Company: SLG-PI
Filing Date: 2025-04-22
Form Type: DEF 14A
Source: 0001104659-25-037534
Chunk: 81

Company: SL GREEN REALTY CORP
Filing Date: 2025-04-22
Form: DEF 14A
Chunk 81
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 any payment or benefit constitutes an excess “parachute payment” under Section 280G of the IRC subject to an excise tax, the executive will not be entitled to a tax gross-up payment; however, the executive’s payments and benefits would be reduced to the extent necessary to avoid such excise taxes, but only if such a reduction of pay or benefits would result in a greater after-tax benefit to the executive. (7) 2.0x the sum of base salary, maximum formulaic bonus and the target value of the annual time-based equity award under prior contract. (8) 1.0x the sum of base salary, maximum formulaic bonus and the target value of the annual time-based equity award under prior contract. The terms Cause, Good Reason and Change-in-Control, as used above, are specifically defined in each executive’s employment agreement. For Mr. Holliday, the term Cause is defined to include a non-renewal of the term of the employment agreement, provided that the cash severance multiple in such instance would be 1.0x instead of 3.0x for Mr. Holliday. The summary above is qualified in its entirety by reference to the copies of the employment agreements with our named executive officers, which have been previously filed by us with the SEC, and are incorporated herein by reference.

TABLE OF CONTENTS

| ​ | 74 | ​ | ​ | SL GREEN REALTY CORP. 2025 PROXY STATEMENT | ​ |

| ​ | Stockholder feedback has always informed the Committee’s design of executive employee agreements—Mr. Holliday’s new employment agreement is no different.In redesigning this contract, the Committee considered both current market norms and stockholder feedback to ensure that negotiations were centered around the most critical aspects.                                                                                                             | ​ |
| ​ | TheCommittee’s primary focus was to eliminate the short-term performance goals in long-term performance equity awardsin alignment with our commitment to stockholders. Even though the majority of stockholders did not raise concerns regarding our severance provisions, through negotiations theCommittee eliminated the maximum bonus from severance calculations, while retaining other legacy provisions that have been in place for over ten years. | ​ |

Performance-Based Equity Awards The table below summarizes the treatment of our annual performance-based equity awards, including those granted in 2023 and 2024 that were outstanding at December 31, 2024 (the “Annual Performance-Based Awards”), in connection with a change-in-control and various hypothetical termination scenarios for our named