boardwalk real estate investment trust ... - Boardwalk REIT

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At the request of Mr. Sam Kolias, the Chief Executive Officer of the Trust, and Mr. Van Kolias,
a senior vice-president of the Partnership, the total compensation paid for each of them will be based on
the same model with the exception that both individuals have continued to elect to forgo the bonus and
employee unit purchase components of the plan and will be compensated solely by the predetermined
base salary. Mr. Sam Kolias and Mr. Van Kolias have elected to contribute their salaries to a scholarship
Trust Unit Ownership Guidelines
To align the interests of management with those of stakeholders, the Trust encourages Trust Unit
Management
Equity Plan
purchase of
of the Trust, as well as selected management level employees, will be encouraged to invest in the Trust
on a go forward basis.
The table below shows the number of Trust Units held by the Named Executive Officers and the
other officers of the Trust as at March 31, 2005:
Name
Number of Trust Units held
Sam Kolias 4,337,500 (1)
Roberto Geremia 190,465
Kevin Screpnechuk 321,531
William Chidley 61,051
Michael Guyette
Jean Denis
Nil
Nil
Other senior management employees (9 persons) 4,423,300
(1) Mr. Kolias also owns, indirectly, 2,237,500 LP Class B Units. For more information on the LP Class B
tion Concerning the Partnership LP
its entirety on SEDAR at www.sedar.com.
(2) Mr. Van Kolias also owns, indirectly, 2,237,500 LP Class B Units.
The Named Executive Officers, as well as some of the other officers of the Trust, currently have equity
ownership in excess of the above noted guidelines.
Long Term Incentive Plan
Effective February 16, 2005, subject to compliance with applicable tax laws, the Trust has
implemented a non-dilutive long-term incentive program to compensate management.
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