Company: GMRE
Filing Date: 2025-03-31
Form Type: DEF 14A
Source: 0001104659-25-029872
Chunk: 69

Company: Global Medical REIT Inc.
Filing Date: 2025-03-31
Form: DEF 14A
Chunk 69
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 or her employment will depend upon the circumstances of the termination. The table below summarizes these rights and the amount of any payments and benefits due under the circumstances specified for the NEO indicated. As noted above, on January 8, 2025, the Company and Mr. Busch reached an agreement regarding Mr. Busch’s transition from service as the Company’s Chief Executive Officer and anticipated continuation as a member of the Board. Pursuant to the Separation Agreement, and in consideration for Mr. Busch (i) assisting with the transition to the new Chief Executive Officer and continuing in employment through the first to occur of (y) the date that a successor to the position of Chief Executive Officer who has been appointed in accordance with the Board’s approved succession process begins employment, or (z) June 30, 2025, (ii) executing, and not revoking, releases of claims in favor of the Company, and (iii) otherwise satisfying the terms of the Separation Agreement, Mr. Busch will receive separation benefits to which he is entitled under his Employment Agreement (as discussed in more detail below) following his cessation of employment. As a result, disclosure herein of the potential payments and benefits to Mr. Busch upon a termination of employment or change in control as of December 31, 2024 is based on Mr. Busch’s Employment Agreement. Severance Provisions of the Employment Agreements The Employment Agreements provide that if Messrs. Busch’s, Kiernan’s, or Leon’s employment is terminated by the Company without “Cause” or by him for “Good Reason” (as those terms are defined in the Employment Agreements), subject to him executing and not revoking a release of claims, he will receive the following severance entitlements:

| (1) | two                                                                                          
 times (in the case of Mr. Busch) and one times (in the case of Messrs. Kiernan               
 and Leon) the sum of, or in the case of a termination within six months preceding, or 12     
 months following, a change of control of the Company, three times (in the case of Mr. Busch) 
 and two times (in the case of Messrs. Kiernan and Leon) the sum of:                          |

a. his base salary; and b. the greater of:

| i. | his                                                                            
 annual bonus earned in the calendar year preceding the year of termination, or |

| ii. | his                                       
 target bonus for the year