Peer REIT

Peer REIT. Means each of the business entities qualified as real estate investment trusts ("REITs") that are part of the constituent companies contained in the FTSE NAREIT Index excluding all REITs classified as "hybrid REITs" and all REITs classified as "mortgage REITs" within that FTSE NAREIT Index. The Committee may in its sole and absolute discretion exclude from the group of Peer REITs any REIT (A) that is in bankruptcy at any point during the Performance Period or (B) that was added to or removed... from the FTSE NAREIT Index during the Performance Period or otherwise was not part of the index for the full Performance Period. In lieu of excluding such Peer REIT altogether, the Committee may adjust the calculation of Total Return to the extent determined by the Committee in its reasonable discretion. View More