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THIRD AMENDMENT
TO
AMENDED AND RESTATED EMPLOYMENT AGREEMENT
This THIRD
AMENDMENT TO AMENDED AND RESTATED EMPLOYMENT AGREEMENT, is made
effective as of January 1, 2008, among MEDICAL PROPERTIES TRUST,
INC., a Maryland corporation (the “REIT”), MPT
OPERATING PARTNERSHIP, L.P., a Delaware limited partnership (the
“Operating Partnership”, and together with the REIT,
the “Company”), and William G. McKenzie (the
“Executive”).
WHEREAS, the
Executive and the Company entered into an Amended and Restated
Employment Agreement dated as of September 10, 2003, as
amended on September 29, 2006 and as further amended as of
August 1, 2008 (the “Employment Agreement”);
and
WHEREAS, the
parties desire to amend the Employment Agreement as provided
herein; and
WHEREAS, the
Compensation Committee of the Board of Directors of the Company
approved the form and substance of this Amendment at a meeting duly
held on January 1, 2008.
NOW, THEREFORE,
in consideration of the premises and for other good and valuable
consideration, the parties hereby agree as follows:
1. The
following Section 8(e) shall be inserted immediately following
Section 8(d) of the Employment Agreement:
(e) SECTION 409A. Anything in this
Agreement to the contrary notwithstanding, if at the time of the
Executive’s separation from service within the meaning of
Section&nbs
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