content: <HTML>
  <HEAD>
     <TITLE>employmentagreementamendm.htm - Generated by SEC Publisher for SEC Filing</TITLE>
  </HEAD>
  
  <BODY bgcolor="#ffffff">
  <a name="page_1"></a><a name="_bclPageBorder1"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face=arial,sans-serif style="display:none;"><font color=windowtext face=arial,sans-serif lang=EN-US style="font-size:10.0pt;text-decoration:none;">_</font></font><font color=windowtext face=arial,sans-serif style="display:none;"><font color=windowtext face=arial,sans-serif lang=EN-US style="font-size:10.0pt;text-decoration:none;">_</font></font></p>
  
  <p align=center style="margin:0in;margin-bottom:.0001pt;margin-top:.5in;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:18.0pt;">United States</font></b></p>
  
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:18.0pt;">Securities and Exchange Commission<br>
  </font></b><b><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Washington, D.C. 20549</font></b><b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></p>
  
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:18.0pt;">Form 8-K</font></b></p>
  
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:18.0pt;">Current Report</font></b></p>
  
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Pursuant to Section 13 or 15(d) of the<br>
  Securities Exchange Act of 1934 </font></b></p>
  
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Date of report (Date of earliest event reported):</font></b><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font><b><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;"> December 15, 2015</font></b></p>
  
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:18.0pt;">REALTY INCOME CORPORATION <br>
  </font></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(Exact name of registrant as specified in its charter) </font></p>
  
  <div align=center>
  
  <table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:503.950012pt;">
   <tr>
    <td valign=top width=33% style="background:white;padding:0in 0in 0in 0in;">
    <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:12.0pt;">Maryland</font></b></p>
    </td>
   <td valign=top width=33% style="background:white;padding:0in 0in 0in 0in;">
    <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:12.0pt;">1-13374</font></b></p>
    </td>
   <td valign=top width=34% style="background:white;padding:0in 0in 0in 0in;">
    <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" style="font-size:12.0pt;">33-0580106</font></b></p>
    </td>
   </tr>
  <tr>
    <td valign=top width=33% style="background:white;padding:0in 0in 0in 0in;">
    <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:10.0pt;">(State or Other
    Jurisdiction of Incorporation or Organization)</font></p>
    </td>
   <td valign=top width=33% style="background:white;padding:0in 0in 0in 0in;">
    <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:10.0pt;">(Commission File
    Number)</font></p>
    </td>
   <td valign=top width=34% style="background:white;padding:0in 0in 0in 0in;">
    <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman" style="font-size:10.0pt;">(IRS Employer
    Identification No.)</font></p>
    </td>
   </tr>
  </table>
  
  </div>
  
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">11995 El Camino Real, San Diego, California 92130<br>
  </font></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(Address of principal executive offices)</font></p>
  
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">(858) 284-5000<br>
  </font></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(Registrant's telephone number, including area code) </font></p>
  
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">N/A<br>
  </font></b><font face="Times New Roman" lang=EN-US style="font-size:10.0pt;">(former name or former address, if changed since last report) </font></p>
  
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">Check the appropriate box
  below if the Form 8-K filing is intended to simultaneously satisfy the filing
  obligation of the registrant under any of the following provisions:</font></p>
  
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">[ ] Written communications
  pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p>
  
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">[ ] Soliciting material
  pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>
  
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">[ ] Pre-commencement
  communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
  240.14d-2(b))</font></p>
  
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:9.0pt;">[ ] Pre-commencement
  communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
  240.13e-4(c))</font></p>
  
  <p style="margin:0in;margin-bottom:.0001pt;">
  
  </p><div align=left><table cellpadding=0 cellspacing=0 border=0>
   <tr>
    <td colspan=2 height=7>&nbsp;</td>
   </tr>
  <tr>
    <td>&nbsp;</td>
   <td><img height=2 src="x15121718151900.jpg" width=674></td>
   </tr>
  </table></div>
  
  <font face=arial,sans-serif lang=EN-US>&nbsp;
  
  
  </font><font lang=EN-US><br clear=ALL>
  
  </font>
  </DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_2"></a><a name="_bclPageBorder2"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>
  
  <div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td valign=top width=17% style="padding:0in 0in 0in 0in;">
    <p style="margin:0in;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;text-justify:inter-ideograph;"><b><font face="Times New Roman" style="font-size:12.0pt;">Item 5.02</font></b></p>
    </td>
   <td valign=top width=83% style="padding:0in 0in 0in 0in;">
    <p style="margin:0in;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;text-justify:inter-ideograph;"><b><font face="Times New Roman" style="font-size:12.0pt;">Departure of
    Directors or Certain Officers; Election of Directors; Appointment of Certain
    Officers; Compensatory Arrangements of Certain Officers.</font></b></p>
    <p style="margin:0in;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;text-justify:inter-ideograph;"><b><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></b></p>
    </td>
   </tr>
  </table></div>
  
  <p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; On December 15, 2015, the Compensation Committee
  (the &#8220;Committee&#8221;) of the Board of Directors of Realty Income Corporation (the
  &#8220;Company&#8221;) eliminated single trigger acceleration for future grants of time-vesting
  restricted stock and restricted stock unit awards to its named executive
  officers, and approved amendments to the employment agreements of certain of
  its named executive officers (other than John P. Case, its Chief Executive
  Officer), increasing the severance amounts payable in the event of qualifying
  termination. </font></p>
  
  <p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Specifically, the Committee approved new form of
  award agreements (the &#8220;New Award Agreements&#8221;) pursuant to which the Company may
  grant discretionary time-vesting restricted stock and restricted stock unit
  awards under its 2012 Incentive Award Plan to its named executive officers
  (including its Chief Executive Officer).&#160; The New Award Agreements provide for
  &#8220;double-trigger&#8221; accelerated vesting of the award in the context of a change in
  control of the Company, such that restricted stock and restricted stock units
  will vest in full upon a termination of employment by the Company without
  &#8220;cause&#8221; or due to the grantee&#8217;s &#8220;constructive termination&#8221;, in either case, on
  or within 18 months following a &#8220;change in control&#8221; (each, as defined in the
  New Award Agreements).&#160; </font></p>
  
  <p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; In addition, the Committee approved an amendment
  (the &#8220;Amendment&#8221;) to the employment agreements (the &#8220;Employment Agreements&#8221;)
  between the Company and each of the following named executive officers of the
  Company: Sumit Roy, President and Chief Operating Officer; Paul M. Meurer,
  Executive Vice President, Chief Financial Officer and Treasurer; and Michael R.
  Pfeiffer, Executive Vice President, General Counsel and Secretary
  (collectively, the &#8220;Executives&#8221;). The Amendment increases the cash severance
  payable to the Executives upon a termination of employment by the Company
  without &#8220;cause&#8221; or by the Executive due to a &#8220;constructive termination&#8221;, in
  either case, on or within twelve months following a &#8220;change in control&#8221; (each,
  as defined in the Employment Agreements) (the &#8220;change in control payment&#8221;) to
  two times the sum of the Executive&#8217;s annual base salary and the average of the
  Executive&#8217;s cash bonus for the prior three years.&#160; Absent the Amendment, the
  Employment Agreements provide for change in control payment equal to the sum of
  the Executive&#8217;s average cash bonus for the prior three years and 1.5 times the
  executive&#8217;s annual base salary.&#160; </font></p>
  
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p>
  
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=windowtext face=arial,sans-serif style="display:none;"><font color=windowtext face=arial,sans-serif lang=EN-US style="font-size:10.0pt;text-decoration:none;">_</font></font><font color=windowtext face=arial,sans-serif style="display:none;"><font color=windowtext face=arial,sans-serif lang=EN-US style="font-size:10.0pt;text-decoration:none;">_</font></font><font color=windowtext face=arial,sans-serif style="display:none;"><font color=windowtext face=arial,sans-serif lang=EN-US style="font-size:10.0pt;text-decoration:none;">_</font></font><font color=windowtext face=arial,sans-serif style="display:none;"><font color=windowtext face=arial,sans-serif lang=EN-US style="font-size:10.0pt;text-decoration:none;">_</font></font></p>
  
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:49.7pt;text-indent:-31.7pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in;margin-bottom:.0001pt;margin-left:49.7pt;text-indent:-31.7pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>
  
  
  
  
  
  </DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_3"></a><a name="_bclPageBorder3"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=windowtext face=arial,sans-serif style="display:none;"><font color=windowtext face=arial,sans-serif lang=EN-US style="font-size:10.0pt;text-decoration:none;">_</font></font><font color=windowtext face=arial,sans-serif style="display:none;"><font color=windowtext face=arial,sans-serif lang=EN-US style="font-size:10.0pt;text-decoration:none;">_</font></font><b><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">SIGNATURE</font></b></p>
  
  <p style="margin:0in;margin-bottom:.0001pt;text-indent:.25in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Pursuant
  to the requirements of the Securities Exchange Act of 1934, the registrant has
  duly caused this report to be signed on its behalf by the undersigned hereunto
  duly authorized. </font></p>
  
  <div align=left><table cellpadding=0 cellspacing=0 border=0 style="border-collapse:collapse;width:504.000000pt;">
   <tr>
    <td valign=top width=40% style="background:white;padding:0in 0in 0in 0in;">
    <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:12.0pt;">Dated: December 18, 2015</font></p>
    </td>
   <td valign=top width=3% style="background:white;padding:0in 0in 0in 0in;">
    <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
    </td>
   <td colspan=3 valign=top width=57% style="background:white;padding:0in 0in 0in 0in;">
    <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:12.0pt;">REALTY INCOME CORPORATION</font></p>
    </td>
   </tr>
  <tr>
    <td valign=top width=40% style="background:white;padding:0in 0in 0in 0in;">
    <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   <td valign=top width=3% style="background:white;padding:0in 0in 0in 0in;">
    <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   <td valign=top width=5% style="background:white;padding:0in 0in 0in 0in;">
    <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:12.0pt;"><br>
    By:</font></p>
    </td>
   <td valign=top width=3% style="background:white;padding:0in 0in 0in 0in;">
    <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   <td valign=top width=49% style="background:white;padding:0in 0in 0in 0in;">
    <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:12.0pt;"><br>
    </font><u><font face="Times New Roman" style="font-size:12.0pt;">/s/ MICHAEL R. PFEIFFER&#160;&#160;&#160;&#160;&#160;&#160; </font></u></p>
    <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
  <tr>
    <td valign=top width=40% style="background:white;padding:0in 0in 0in 0in;">
    <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
    </td>
   <td valign=top width=3% style="background:white;padding:0in 0in 0in 0in;">
    <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
    </td>
   <td valign=top width=5% style="background:white;padding:0in 0in 0in 0in;">
    <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
    </td>
   <td valign=top width=3% style="background:white;padding:0in 0in 0in 0in;">
    <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
    </td>
   <td valign=top width=49% style="background:white;padding:0in 0in 0in 0in;">
    <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:12.0pt;">Michael R. Pfeiffer</font></p>
    </td>
   </tr>
  <tr>
    <td valign=top width=40% style="background:white;padding:0in 0in 0in 0in;">
    <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
    </td>
   <td valign=top width=3% style="background:white;padding:0in 0in 0in 0in;">
    <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
    </td>
   <td valign=top width=5% style="background:white;padding:0in 0in 0in 0in;">
    <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
    </td>
   <td valign=top width=3% style="background:white;padding:0in 0in 0in 0in;">
    <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
    </td>
   <td valign=top width=49% style="background:white;padding:0in 0in 0in 0in;">
    <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" style="font-size:12.0pt;">Executive Vice President,
    General Counsel and Secretary</font></p>
    </td>
   </tr>
  </table></div>
  
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in;margin-bottom:.0001pt;"><font face=arial,sans-serif lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>
  
  
  
  
  </DIV>
  </BODY>
  
  </HTML>
metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "employmentagreementamendm.htm", "description": "8-K", "secsgml_size_bytes": 19175}]
metadata_filer: {"company-data": {"conformed-name": "REALTY INCOME CORP", "cik": "0000726728", "assigned-sic": "6798", "irs-number": "330580106", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-13374", "film-number": "151295132"}, "business-address": {"street1": "11995 EL CAMINO REAL", "city": "SAN DIEGO", "state": "CA", "zip": "92130", "phone": "8582845000"}, "mail-address": {"street1": "11995 EL CAMINO REAL", "city": "SAN DIEGO", "state": "CA", "zip": "92130"}}
text: employmentagreementamendm.htm - Generated by SEC Publisher for SEC Filing
  United States
  Securities and Exchange Commission
  Washington, D.C. 20549
  Form 8-K
  Current Report
  Pursuant to Section 13 or 15(d) of the
  Securities Exchange Act of 1934
  Date of report (Date of earliest event reported):
  December 15, 2015
  REALTY INCOME CORPORATION
  (Exact name of registrant as specified in its charter)
  Maryland
  1-13374
  33-0580106
  (State or Other
    Jurisdiction of Incorporation or Organization)
  (Commission File
    Number)
  (IRS Employer
    Identification No.)
  11995 El Camino Real, San Diego, California 92130
  (Address of principal executive offices)
  (858) 284-5000
  (Registrant's telephone number, including area code)
  N/A
  (former name or former address, if changed since last report)
  Check the appropriate box
  below if the Form 8-K filing is intended to simultaneously satisfy the filing
  obligation of the registrant under any of the following provisions:
  [ ] Written communications
  pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [ ] Soliciting material
  pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [ ] Pre-commencement
  communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
  240.14d-2(b))
  [ ] Pre-commencement
  communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
  240.13e-4(c))
  Item 5.02
  Departure of
    Directors or Certain Officers; Election of Directors; Appointment of Certain
    Officers; Compensatory Arrangements of Certain Officers.
  On December 15, 2015, the Compensation Committee
  (the "Committee") of the Board of Directors of Realty Income Corporation (the
  "Company") eliminated single trigger acceleration for future grants of time-vesting
  restricted stock and restricted stock unit awards to its named executive
  officers, and approved amendments to the employment agreements of certain of
  its named executive officers (other than John P. Case, its Chief Executive
  Officer), increasing the severance amounts payable in the event of qualifying
  termination.
  Specifically, the Committee approved new form of
  award agreements (the "New Award Agreements") pursuant to which the Company may
  grant discretionary time-vesting restricted stock and restricted stock unit
  awards under its 2012 Incentive Award Plan to its named executive officers
  (including its Chief Executive Officer).  The New Award Agreements provide for
  "double-trigger" accelerated vesting of the award in the context of a change in
  control of the Company, such that restricted stock and restricted stock units
  will vest in full upon a termination of employment by the Company without
  "cause" or due to the grantee's "constructive termination", in either case, on
  or within 18 months following a "change in control" (each, as defined in the
  New Award Agreements).
  In addition, the Committee approved an amendment
  (the "Amendment") to the employment agreements (the "Employment Agreements")
  between the Company and each of the following named executive officers of the
  Company: Sumit Roy, President and Chief Operating Officer; Paul M. Meurer,
  Executive Vice President, Chief Financial Officer and Treasurer; and Michael R.
  Pfeiffer, Executive Vice President, General Counsel and Secretary
  (collectively, the "Executives"). The Amendment increases the cash severance
  payable to the Executives upon a termination of employment by the Company
  without "cause" or by the Executive due to a "constructive termination", in
  either case, on or within twelve months following a "change in control" (each,
  as defined in the Employment Agreements) (the "change in control payment") to
  two times the sum of the Executive's annual base salary and the average of the
  Executive's cash bonus for the prior three years.  Absent the Amendment, the
  Employment Agreements provide for change in control payment equal to the sum of
  the Executive's average cash bonus for the prior three years and 1.5 times the
  executive's annual base salary.
  SIGNATURE
  Pursuant
  to the requirements of the Securities Exchange Act of 1934, the registrant has
  duly caused this report to be signed on its behalf by the undersigned hereunto
  duly authorized.
  Dated: December 18, 2015
  REALTY INCOME CORPORATION
  By:
  /s/ MICHAEL R. PFEIFFER
  Michael R. Pfeiffer
  Executive Vice President,
    General Counsel and Secretary