Company: GMRE
Filing Date: 2025-03-31
Form Type: DEF 14A
Source: 0001104659-25-029872
Chunk: 70

Company: Global Medical REIT Inc.
Filing Date: 2025-03-31
Form: DEF 14A
Chunk 70
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 of termination; |

| (2) | a prorated annual bonus for the year of termination 
 (the “Termination Bonus Payment”);                  |

| (3) | all                                                                                            
 outstanding time-based equity-based awards vest (“Accelerated Vesting”),                       
 and performance-based equity awards will remain outstanding and eligible to vest if and to     
 the extent the applicable performance-based vesting conditions are satisfied, subject to       
 any pro-ration that is consistent with the terms of other equity-based awards subject to       
 performance-based vesting which were granted to him under the 2016 Plan prior to the effective 
 date of his Employment Agreement (“Ongoing Vesting”); and (i) in                               
 the case of Mr. Busch, continuation of subsidized health care coverage for up to 18            
 months or monthly payments equal to the Company cost of providing such coverage; and (ii),     
 in the case of Messrs. Kiernan and Leon, continuation of subsidized health care coverage       
 for up to 12 months (or 18 months in the case of a termination within six months preceding,    
 or 12 months following, a change of control of the Company) or monthly payments equal to       
 the Company cost of providing such coverage (each, a “COBRA Subsidy”).                         |

54 Subject to certain restrictions in each Employment Agreement, the severance described in (1) above is paid in installments over 24 months (in the case of Mr. Busch) or 12 months (in the case of Messrs. Kiernan and Leon) following the 60 thday after the termination date unless the termination occurs within six months preceding, or 12 months following a change-in-control of the Company, in which case the severance is paid in a lump sum within 60 days after the date of termination. Each of Mr. Busch, Kiernan and Leon would also be entitled to the severance payments and benefits described above if their employment is terminated by the Company due to the Company’s election not to renew the term of the Employment Agreement. For purposes of the Employment Agreements:

| (1) | “Good                                                                                     
 Reason” means, in summary, (i) a material diminution in the executive’s                   
 title, authority, responsibilities or base salary (including, in the case of Mr. Busch,   
 the failure of the Board to appoint him as Chairman of the Board within 10 days after the 
 effective date of his Employment Agreement), (ii) after a