Notes to Combined Financial Statements   (In thousands of dollars, except unit and per unit amounts)  Years ended December 31, 2010 and 2009  H&R REAL ESTATE INVESTMENT TRUST  H&R FINANCE TRUST  11.  Unitholders’ equity (continued):  (b) Distributions: 24  Pursuant to Finance Trust’s Declaration of Trust, unitholders of Finance Trust are entitled to receive all of the  Distributable Cash of Finance Trust, as defined in the Declaration of Trust. Distributable Cash means, subject to certain  exceptions, all amounts received by Finance Trust less certain costs, expenses or other amounts payable by Finance  Trust, and less any amounts which, in the opinion of the trustees, may reasonably be considered to be necessary to  provide for the payment of any costs or expenditures that have been or will be incurred in the activities and operations of  Finance Trust and to provide for payment of any tax liability of Finance Trust. Finance Trust paid per unit distributions of  $0.11 for the year ended December 31, 2010 (2009 - $0.11).  Under the REIT’s Declaration of Trust, the total amount of income of the REIT to be distributed to unitholders, due and  payable on or before December 31 of any calendar year, shall not be less than the amount necessary to ensure that the  REIT will not be liable to pay income tax under Part I of the Income Tax Act (Canada) for that year, after all permitted  deductions under such act have been taken (or authorized to be taken by the trustees), and any such payment shall be  considered to have been declared by the trustees and to have been payable no later than December 31 of that year. Notwithstanding the foregoing, the total amount of income of the REIT to be distributed to unitholders for each calendar  year shall be subject to the absolute discretion of the trustees. For the year ended December 31, 2010, the REIT  declared per unit distributions of $0.68 (2009 - $0.61).  The options outstanding at December 31, 2010 are exercisable at varying prices ranging from $9.30 to $16.56 (2009 -  $9.30 to $16.56) with a weighted average remaining life of 8.4 years (2009 - 6.3 years). The vested options are  exercisable at varying prices ranging from $9.30 to $16.56 (2009 - $13.12 to $16.56) with a weighted average remaining  life of 7.7 years (2009 - 3.7 years).  Weighted Weighted average av erage exercise ex ercise Units price Units price Outstanding, beginning of y ear 2,086,434 13.05 $  2,454,666 13.73 $  Granted 600,000 15.42 600,000 9.30 Exercised (1,126,101) 13.06 (968,232) 12.46 Outstanding, end of y ear 1,560,333 13.95 $  2,086,434 13.05 $  Options ex ercisable, end of y ear 410,333 15.00 $  1,086,434 13.82 $  2010 2009 A summary of the status of the unit option plan as at December 31, 2010 and 2009 and the changes during the year  ended on those dates are as follows: 