AGREEMENT REGARDING PHILLIPS EDISON LIMITED PARTNERSHIP RESTRICTED MANAGEMENT UNITS AND PHILLIPS EDISON GROCERY CENTER OPERATING PARTNERSHIP I, L.P. PHANTOM UNITSRestricted Management Units and Phantom Units Agreement • November 9th, 2017 • Phillips Edison Grocery Center Reit I, Inc. • Real estate investment trusts • Ohio
Phillips Edison Limited Partnership (the “Company”) has granted [NAME] (“Employee”) restricted management units of the Company (the “RMUs”) pursuant to the Phillips Edison Limited Partnership Restricted Unit Award Plan. Upon the closing of the transactions contemplated by that certain Contribution Agreement by and among Phillips Edison Grocery Center REIT I, Inc. (“NTR1”), Phillips Edison Grocery Center Operating Partnership I, L.P. (the “Operating Partnership”) and the other parties thereto dated as of May 18, 2017 (the “Closing”), the Operating Partnership has agreed to grant Employee three Phantom Units (as defined below) in exchange for each RMU the Employee agrees to cancel pursuant to this Agreement. Employee, the Company and the Operating Partnership agree as follows:
