EXHIBIT 10.18A
AMENDMENT TO MARCH 24, 2005
RESTRICTED SHARE AGREEMENT
THIS AMENDMENT
TO MARCH 24, 2005 RESTRICTED SHARE AGREEMENT (the
“Amendment”) is entered into and made effective as of
February 20, 2007 between TANGER FACTORY OUTLET CENTERS,
INC. , a corporation organized under the laws of the State of
North Carolina (the “Company”), TANGER PROPERTIES
LIMITED PARTNERSHIP , a Limited Partnership organized under the
laws of the State of North Carolina (the “Employer”)
and «Restricted_Share_Holder_Name» , (the
“Restricted Shareholder”).
WHEREAS, the
Company and the Restricted Shareholder entered into Restricted
Share Agreement dated March 24, 2005 ( the “Original
Restricted Share Agreement”)
WHEREAS, the
Share and Unit Option Committee of the Company’s Board of
Directors has authority for administrative matters with respect to
the Company’s Incentive Award Plan (the
“Plan”);
WHEREAS, the
Committee has authorized the amendment to the Original Restricted
Share Agreement to make it clear that Restricted Shares will vest
upon a Restricted Shareholder’s Termination of Employment by
reason of the Restricted Shareholder’s death.
NOW THEREFORE,
in consideration of the foregoing recitals, the mutual covenants
contained herein and other good and valuable consideration, the
Company and the Restricted Shareholder agree as follows:
1. Section
2.1 of the Original Restricted Share Agreement shall be amended to
read as follows:
“Section
2.1 – Forfeiture of Restricted Shares
Immediately
upon the Restricted Shareholder’s Termination of Employment,
the Restricted Shareholder shall forfeit any and all Restricted
Shares then subject to Restrictions and the Restricted
Shareholder’s rights in any Restricted Shares then subject to
Restrictions shall lapse; provided , however , no
such forfeiture shall exist in the event of Restricted
Shareholder’s Termination of Employment:
(a) by
Employer other than for Cause;
(b)
by the Restricted Shareholder for Good Reason; or
