WASHINGTON (dpa-AFX) - BXP, Inc. (BXP) announced that it has amended its employment agreement with Owen Thomas, the company's Chief Executive Officer and Chairman of the Board. The new agreement is fundamentally consistent with his previous contract but is designed to better align the term of his employment with BXP's multi-year strategic action plan introduced at the Investor Day on September 8, 2025. While Thomas' prior agreement was set to expire in December 2026, the amended agreement extends his term through December 31, 2029.
Alongside the new employment agreement, BXP's Board of Directors approved the 2025 Outperformance Plan (OPP). Under this plan, equity awards have been granted to Thomas and other members of the senior leadership team. The purpose of both the amended agreement and the OPP awards is to retain and incentivize key executives while ensuring their interests remain closely aligned with those of BXP's shareholders throughout the duration of the strategic plan.
Importantly, the terms of the OPP awards specify that no accelerated or continued vesting will be provided to any recipient, including Thomas, in the event of a qualified retirement.
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