Employment Agreement [Amended and Restated] (2015)Full Document 

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AMENDED AND RESTATED

EMPLOYMENT AGREEMENT

THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT (the "Agreement"), by and between PHYSICIANS REALTY TRUST, a Maryland trust, (the "Company"), and JOHN SWEET (the "Executive") is entered into this 19th day of February, 2015 but effective as of the 1st day of January, 2015 (the "Effective Date").

WHEREAS, the Company and the Executive entered into an Employment Agreement (the "Original Agreement") dated July 24, 2013, which Original Agreement was amended and restated by agreement entered into on May 6, 2014, and the Company and the Executive now desire to further amend and restate the Original Agreement to provide for certain changes to the terms and conditions of the Executive’s employment by the Company, as reflected in this Agreement.

NOW THEREFORE, in consideration of the mutual covenants herein contained, the parties, intending to be legally bound, hereby agree as follows:

1.                                      EMPLOYMENT

(a)                                 As Chief Investment Officer.  During the Officer Term (as defined below), the Company hereby agrees to employ the Executive as its Executive Vice President and Chief Investment Officer (the "CIO") upon the terms and conditions herein contained, and the Executive hereby agrees to accept such employment and to serve in such position. As CIO, the Executive will have those duties which can reasonably be expected to be performed by a person in such position and shall undertake such other responsibilities as may be assigned to the Executive by the Company’s Chief Executive Officer ("CEO") and/or Board of Trustees from time to time. For purposes of this Agreement, all references to the "Board" shall mean the Board of Trustees. In such capacity, the Executive shall report to the CEO and shall have such powers and responsibilities consistent with his position as may be assigned. Throughout the Officer Term, the Executive shall devote his best efforts and all of his business time and services to the business and affairs of the Company.

(b)                                 As Consultant.  During the Consulting Term (as defined below), the Company agrees to employ the Executive as a consultant upon the terms and conditions herein contained, and the Executive hereby agrees to accept such employment, to resign his officer and director positions with the Company, if any, and to serve as a consultant.  As a consultant, the Executive will have those duties which can reasonably be expected to be performed by a person in such position and shall undertake such other responsibilities as may be assigned to the Executive by the CEO.  In such capacity, the Executive shall report to the CEO and shall have such powers and responsibilities consistent with his position as may be assigned.  Throughout the Consulting Term, the Executive shall devote his best efforts and a minimum of 500 hours of consulting services to the business and affairs of the Company.



2.                                      TERM OF AGREEMENT

Subject to earlier termination as herein provided, the Executive’s employment under this Agreement shall begin on the Effective Date and shall continue in effect until the third anniversary of the Effective Date (the "Employment Term"). The period commencing on the Effective Date and ending on the second anniversary of the Effective Date shall be referred to herein as the "Officer Term," and the remainder of the Employment Term shall be referred to as the "Consulting Term."

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