UNIVERSAL HEALTH REALTY INCOME TRUST
1997 INCENTIVE PLAN
1. Purposes. The Universal Health Realty Income Trust 1997 Incentive Plan (the "Plan") is intended to provide a
method whereby employees of Universal Health Realty Income Trust (the "Trust"), including officers, directors,
consultants and other people who are responsible for the management and growth of the business and who are
presently making and are expected to continue making substantial contributions to the successful management and
growth of the Trust, may be offered incentives in addition to those presently available and may be stimulated to
personal involvement in the fortunes of the Trust to continue in the service of the Trust, thereby advancing the
interests of the Trust and its shareholders. Accordingly, the Trust may, from time to time, grant to such
employees, as may be selected in the manner hereinafter provided, on the terms and conditions hereinafter
established, (i) options (each, an "Option") to purchase shares of the beneficial interest, par value $.01 per share,
of the Trust (the "Shares"), including incentive stock options (each, an "ISO") within the meaning of Section 422
of the Internal Revenue Code of 1986, as amended from time to time, and any successor statute (the "Code"), (ii)
dividend equivalent rights with respect to Shares (each, a "DER") or (iii) any combination thereof. Each such
grant shall hereinafter be referred to as an "Award."
2. Administration of the Plan. The Plan shall be administered by the Board of Trustees of the Trust (the "Board").
Subject to the provisions of the Plan, the Board is authorized to make all determinations and to take all actions
necessary or advisable for the administration of the Plan, including determining the persons to whom Awards are
to be granted and the types and combinations of Awards to be granted.
The interpretation and construction by the Board of any provisions of the Plan or of any agreement or of other
matters related to the Plan shall be fina