RPT Realty (KIM+N) 10-K 2019 FY Annual report

Exhibit 10.4

SUMMARY OF COMPENSATION FOR
THE BOARD OF TRUSTEES OF
RPT REALTY
The following table sets forth the compensation program for non-employee Trustees:
Annual cash retainer (1)			$	60,000
Additional cash retainer:
	Chairman	100,000
	Audit Committee chair	25,000
	Compensation Committee chair	15,000
	Nominating and Governance Committee chair	15,000
Annual equity retainer (value of restricted shares) (2)			100,000

⁽¹⁾The annual cash retainer is equal to $160,000 less the grant date fair value, which approximates $100,000, of the restricted shares granted in the applicable year.

⁽²⁾Grants are made under the Trust's 2019 LTIP. The restricted shares vest over one year. The grant is made on July 1st or, if not a business day, the business day prior to July 1st. During 2019, 7,693 shares were granted to each Trustee that was in service as of the July 1st date.

The Trust also reimburses all Trustees for all expenses incurred in connection with attending any meetings or performing their duties as Trustees.