Exhibit 10.1
 | Employment Term Sheet
Richard K. Schoebel
November 17, 2009 |
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| Employee: | Richard K. Schoebel |
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| Title: | Chief Operating Officer |
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| Start Date: | November 30, 2009 |
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| Base Salary: | $275,000.00 |
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| Bonus: | Annual bonus between 0% and 100% of the annual Base Salary |
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| Restricted Stock: | 35,000 share grant – vesting over 5-years |
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| Stock Options: | 35,000 share grant – vesting over 5-years |
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| Automobile Allowance: | $1,500 / per month |
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| Benefits: | Entitled to participate in all of the Company’s employee benefit plans and programs on substantially the same terms and conditions as other senior executives. |
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| Death / Disability: | Substantially consistent with the terms and conditions of the death and disability provisions of John Roche’s employment contract. |
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Termination / Non-Renewal /
Change of Control: | Substantially consistent with the terms and conditions of the termination / non-renewal / change of control provisions of John Roche’s employment contract. |
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| Employment Contract: | Initial term of 3 years.
Terms and conditions of Employment Contract to be substantially consistent with the terms and conditions of the employment contract entered into between John Roche and the Company. |
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| Relocation Expenses: | Six months of living expenses at $5,000/ per month.
$20,000 reimbursement of moving and travel expenses to relocate to New York metro area. In the event Richard Schoebel voluntarily terminates his employment during the initial 24-months of employment he will be obligated to refund to the Company the unamortized portion of the Relocation Expenses. |
Agreed to and accepted this 17 day of November, 2009.
Retail Opportunity Investments Corp.
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| /s/ Stuart A. Tanz | /s/ Richard K. Schoebel |
| By: | Stuart A. Tanz | Richard K. Schoebel |
| Its: | Chief Executive Officer | |
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| Retail Opportunity Investments Corp. |
| Ph: (914) 272-80803 Manhattanville Road, 2ndFloor, Purchase, NY 10577Fax: (914) 272-8088 |
| Ph: (760) 599-7000 1750 La Costa Meadows Drive, San Marcos, CA 92078 Fax: (760) 599-7007 |
