Exhibit 10.32
AMENDMENT TO STOCK OPTION
AGREEMENTS
This Amendment to
Stock Option Agreements (“Amendment”) is made and
entered into as of the 17 th day of February, 2009, by and
between FEDERAL REALTY INVESTMENT TRUST, a Maryland real estate
investment trust (“Trust”), and ANDREW P. BLOCHER
(“Executive”).
WHEREAS, Executive and the Trust
have entered into the following stock option agreements:
(a) Combined Incentive and Non-Qualified Stock Option
Agreement dated February 16, 2006; (b) Combined Incentive
and Non-Qualified Stock Option Agreement dated February 12,
2007; and (c) Combined Incentive and Non-Qualified Stock
Option Agreement dated February 10, 2008 (collectively
referred to hereinafter as the “Stock Option
Agreements”); and
WHEREAS, since the execution of the
Option Agreements, Executive has been promoted and is now an
executive officer of the Trust, and Executive and the Trust wish to
amend the Stock Option Agreements.
NOW THEREFORE, in consideration of
the foregoing, of the mutual promises herein contained and of other
good and valuable consideration, the receipt and sufficiency of
which is her
