Pennsylvania Real Estate Investment Trust 2009 Incentive Compensation Opportunity Award

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PENNSYLVANIA REAL ESTATE INVESTMENT TRUST

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Title: Pennsylvania Real Estate Investment Trust 2009 Incentive Compensation Opportunity Award
Date: 5/11/2009
Industry: Real Estate Operations Sector: Services

Pennsylvania Real Estate Investment Trust

2009 Incentive Compensation Opportunity Award, Parties: pennsylvania real estate investment trust

Exhibit 10.4

[TEMPLATE USED FOR EXECUTIVE VICE PRESIDENTS OTHER THAN CHIEF FINANCIAL OFFICER]

Pennsylvania Real Estate Investment Trust

2009 Incentive Compensation Opportunity Award

for [Insert Name of Executive],

Executive Vice President


		2009 Incentive Opportunity ²
		2009 Incentive Range ³ - % of Salary
		Threshold ⁴	Target ⁴	Outperformance ⁴
2009 Base Salary ¹	$	%	%	%



						Performance Measurement Allocation ⁵
						Corporate				Individual
						%				%



	CORPORATE – %
Measure ⁶	Threshold ⁸	Target ⁸	Outperformance ⁸
FFO Per Share ⁷	$	$	$

TOTAL 2009 CORPORATE OPPORTUNITY:	$	$	$



	INDIVIDUAL – %
Measure	Threshold	Target	Outperformance
Compensation Committee Discretion ¹	Committee Discretion	Committee Discretion	Committee Discretion

TOTAL

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