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 10.5

[TEMPLATE USED FOR MEMBERS OF OFFICE OF CHAIR AND CHIEF FINANCIAL OFFICER]

Pennsylvania Real Estate Investment Trust

2009 Incentive Compensation Opportunity Award

for [Insert Name of Executive],

[Insert Executive’s Position]


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


Measure ⁵	Threshold ⁷	Target ⁷	Outperformance ⁷
FFO Per Share ⁶	$	$	$

2009 INCENTIVE OPPORTUNITY:*	$	$	$

*	The amount payable under this award will be paid in cash during the period January 1, 2010 through March 15, 2010.

The Grantee has read and understands this award, including the endnotes which describe the terms of the award, and agrees to be bound by such terms. Further, the Grantee agrees that any amount awarded and paid to the Grantee under this award shall be subject to PREIT’s “Recoupment Policy” as in effect on the date the Committee granted

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