EX-10.20
from 10-K
~10
pages
January 5, 2024 Peter M. Moglia Address on File With the Corporation Dear Peter: This Letter Confirms Our Recent Discussions Regarding Our Modification of Your Third Amended and Restated Executive Employment Agreement, Effective as of May 22, 2018 (Your “Employment Agreement”). Long-Term Incentive Grants Pursuant to Section 2.3(a) of Your Employment Agreement, You ARE Currently Eligible to Receive an Annual Long-Term Incentive Compensation Award in the Form of Restricted Shares of the Common Stock of Alexandria Real Estate Equities, Inc. (The “Corporation”) (An “Lti Grant”) With Respect to Each Fiscal Year of the Corporation During the Term of Your Employment Agreement Which Ends Prior to the Fiscal Year During Which Your Employment Agreement Is Terminated. This Letter Amends Section 2.3(a) of Your Employment Agreement and Exhibit B Thereto (Such Section 2.3(a) and Exhibit B as in Effect Prior to the Date of This Letter, the “Prior Provisions”), Such That for Any Lti Grants Granted After the Date of This Letter: (I)the Value of Each Target Lti Grant Will Be $5,500,000 (Instead of $4,500,000 Under the Prior Provisions); (Ii)50% of the Shares Subject to the Target Lti Grant (The “Time-Based Stock”) Will Vest Monthly in Equal Installments Over the 48-Month Period (Instead of the 36-Month Period Under the Prior Provisions) Following the Applicable Date of Grant Based Solely on Your Continued Service With the Corporation; (Iii)the Remaining 50% of the Shares Subject to the Target Lti Grant (The “Target Performance-Based Stock”) Will Vest Based on Certain Corporate Performance Criteria, Provided That Such Number Is to Be Increased by 50% (Instead of 56.4% Under the Prior Provisions), Such That the Number of Shares Subject to the Lti Grant That Is Subject to Performance-Based Vesting Is to Be 150% (Instead of 156.4% Under the Prior Provisions) of the Target Performance-Based Stock (The “Maximum Performance-Based Stock”); And
12/34/56
