Company: IIPR
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001104659-25-041241
Chunk: 57

Company: INNOVATIVE INDUSTRIAL PROPERTIES INC
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 57
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 change of control agreements also provide that severance payments are subject to recoupment as required by any recoupment policy approved by the Board. If an executive’s employment is terminated by the Company for cause or by the executive without good reason (and other than for death, disability or a qualifying retirement), the executive will not be entitled to any severance payment or benefits under the severance and change of control agreement. None of the severance and change of control agreements provide for tax gross-up payments to the executive if any amounts paid or payable to the executive would be subject to the excise tax imposed on certain so-called “excess parachute payments” under Section 4999 of the Internal Revenue Code of 1986, as amended. Termination and Change of Control Scenario Table The table below reflects the amount of compensation that each of our named executive officers would be entitled to receive under his or her existing severance and change of control agreement with the Company upon termination of such executive’s employment in certain circumstances. The amounts shown assume that such termination was effective as of December 31, 2024, and are only estimates of the amounts that would be paid out to such executives upon termination of their employment. The actual amounts to be paid out can only be determined at the time of such executive’s separation from the Company. In the event of a termination by the Company for cause or by the executive without good reason, including in connection with a change of control, such executive would not be entitled to any of the amounts reflected in the table. We have not included Mr. Wolfe in the table below because he resigned effective January 9, 2025 and did not receive any enhanced benefits or payments in connection with this resignation. 36

TABLE OF CONTENTS

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 ​ | Named Executive Officer and Trigger                                           
 Alan Gold                                                                     | ​ 
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 ​ | SeverancePayments(1) 
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 ​ | MedicalBenefits(2) 
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 ​ | Value ofAccelerated orContinuedVesting ofRestricted Stockor RSUs(3) 
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 ​ | Value ofAccelerated orContinuedVesting ofPSUs(4) 
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 ​ | Total 
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