Document:

American Tower Corporation Severance Program

 Exhibit 10.2 
 AMERICAN TOWER CORPORATION 
 SEVERANCE PROGRAM 
  
  
 Effective as of March 2, 2009 
  
  
 ARTICLE 1 
 PURPOSE 
 1.1 Establishment:
American Tower Corporation (the “Company”) hereby adopts effective as of March 2, 2009 and as part of the American Tower Corporation Benefits Plan (the “Benefits Plan”), a severance program for the benefit of its employees
eligible hereunder, which shall be known as the American Tower Corporation Severance Program (the “Severance Program” or the “Program”). The Severance Program is a Contract under the Benefits Plan. This document describes the
features of the Benefits Plan that are unique to the Severance Program. Other features of the Severance Program are located in the policies, documents and rules governing the Benefits Plan. 
 1.2 Purpose: The purpose of the Severance Program is to provide transition assistance in the form of severance benefits for Eligible Employees in
the event of a Qualifying Termination. 
 1.3 Effect of Prior Severance Pay Programs, Plans or Arrangements: The Program supersedes
and replaces any prior severance pay programs, plans and arrangements (whether written or oral) for any Participant. 
 ARTICLE 2

 DEFINITIONS 
 Whenever used in this Program, the following words and phrases have the meanings set forth below unless the context plainly requires a different meaning, and when the defined meaning is intended, the term is capitalized. Capitalized terms
not defined below have the meanings set forth in the Benefits Plan. 
 2.1 Acquirer(s): the person(s) or entity(ies) that acquire(s)
the stock or assets of the Company in a Change of Control, and includes persons or entities (a) that directly or indirectly control such person(s) or entity(ies) and (b) that are controlled by or are under direct or indirect common control
with such person(s) or entity(ies). 
 2.2 Base Earnings: means a Participant’s weekly rate of pay as of the date of the
Qualifying Termination, exclusive of overtime, bonuses, commissions or other forms of premium, equity and/or incentive pay; provided that, if specifically provided for in the Severance Policy applicable to the Participant, Base Earnings shall also
include, for a Participant who is a 

  

 Page 1 of 8 

 
sales manager or account manager and who participates in an Employer plan or arrangement that provides for quota-based commissions, the weekly amount that
would be payable to such Participant with respect to his or her annualized Commission Target related thereto, calculated as if such Commission Target was paid on a weekly basis. 
 2.3 Benefits Plan: has the meaning set forth in Section 1.1. 
 2.4 Cause: (a) gross negligence or material willful misconduct in the performance of a Participant’s duties and responsibilities; (b) insubordination; (c) conviction of a crime involving
moral turpitude or imprisonment for any crime; (d) material violation of any agreement with an Employer to which the Participant is a party; or (e) any act or omission by the Participant resulting or intended to result in personal gain at
an Employer’s expense or harm to an Employer, its interests or its reputation. 
 2.5 Change of Control: a transaction designated
by the Board prior to the Closing Date as a Change of Control for purposes of this Severance Program, such as a sale of stock, a merger or other reorganization, or a sale of all or substantially all of the assets of the Company, that has the result
that the majority ownership of the Company or its assets is thereafter held by persons not shareholders of the Company immediately prior to such transaction. 
 2.6 Closing Date: the date on which the Change of Control occurs. 
 2.7 Commission Target:
means, for a Participant who is a sales manager or account manager under an Employer plan or arrangement that provides for quota-based commissions, the amount of commission that would have been paid to such Participant had the Participant not
experienced a Qualifying Termination prior to the payment thereof, assuming 100% achievement of applicable targets or quotas by the Participant under such plan or arrangement. 
 2.8 Confidentiality and Restrictive Covenants Agreement: an agreement, in a form satisfactory to the Company, that restricts the Participant from
using confidential information of the Company and any affiliate, from competing with the Company or any affiliate, from soliciting any employees of the Company or any affiliate, and disparaging the Company or any affiliate. 
 2.9 Company: has the meaning set forth in Section 1.1. 
 2.10 Employer: the Company and any affiliate that is designated by the Company as a participating company. As of the Effective Date, the following affiliates are participating companies: American Towers, Inc.
and ATC Tower Services Inc. 
 2.11 Effective Date: means March 2, 2009. 
 2.12 Eligible Employee: an individual who is a common law employee of an Employer working in the United States; provided, however, that the term
shall not include: (a) temporary or irregular employees or contractors; (b) independent contractors; (c) leased employees within the meaning of Section 414(n) of the Code; (d) except to the extent specifically bargained for,
members of a collective bargaining unit; and (e) employees of any foreign affiliates (other than individuals designated as “expatriate employees” by the Plan Administrator); and provided, further, that any individual described in
subparagraph (b) of this Section shall remain ineligible to participate in the Program, notwithstanding any re-characterization of the individual as an employee for any federal, state or local law purpose. 
  

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 An employee who is not regularly scheduled to work at least 20 hours per week and who has not been
employed by an Employer for a continuous period of at least 90 days shall not be treated as an Eligible Employee for purposes of this Program. 
 2.13 Good Reason: means, without the written consent of a Participant, (i) a material diminution of a Participant’s annual Base Earnings; (ii) a material diminution of a Participant’s authority, duties or
responsibilities; or (iii) a relocation of a Participant’s worksite of more than 50 miles from his or her existing worksite; provided, that the Participant has provided Employer written notice of the existence of the condition(s) within 60
days of its initial existence, and the Employer has failed to remedy the condition(s) after 30 days of receiving such notice from the Participant. 
 2.14 Participant: every Eligible Employee other than an employee who, at the time of the Qualifying Termination, is subject to an individual agreement with an Employer that provides for severance benefits that are different from
those provided hereunder. 
 2.15 Performance Reasons: a substantive violation by a Participant of an applicable Employer policy or
procedure or the performance by a Participant of his or her job or position in a manner deemed by an Employer to be unsatisfactory. 
 2.16
Program or Severance Program: this American Tower Corporation Severance Program, as set forth herein, with any and all supplements and amendments hereto that may be in effect. 
 2.17 Pro-Rated Bonus Payment: the portion of Severance Benefits that are payable based on a pro rata share of a cash bonus and/or
commission payment that would have been made to a Participant under an Employer bonus or commission plan or arrangement (but with no double counting of any bonus or commission arrangement in the calculation of the Severance Benefits hereunder) had
the Participant not experienced a Qualifying Termination. The amount paid will be pro rated based on the number of days of service in the relevant period completed as of the date of the Qualifying Termination to the total number of days of service
in the relevant bonus or commission period, and shall be determined assuming all goals and objectives for such bonus or commission plan or arrangement had been 100% achieved. 
 2.18 Qualifying Termination: means the termination of a Participant’s employment by an Employer solely as a result of the Employer’s
elimination of his or her job or position; provided that, if specifically provided for in the Severance Policy applicable to the Participant, a Qualifying Termination shall also include the termination of such Participant’s employment by the
Participant for Good Reason. Termination of a Participant’s employment for any other reason, including, by way of illustration and not limitation, (i) voluntary termination by the Participant (other than for Good Reason, if applicable),
(ii) the termination by an Employer of a Participant for Cause, or (iii) the termination by an Employer of a Participant for Performance Reasons, shall not constitute a Qualifying Termination. 
  

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 2.19 Separation and Release Agreement: an agreement and general release, in a form satisfactory to
the Company, that releases and forever discharges the Company and its affiliates, officers and directors from all claims and damages that the Participant may have in connection with or arising out of his or her employment or the termination of
employment with the Company or any affiliate. 
 2.20 Severance Benefits: the benefits provided hereunder, as determined pursuant to
Article 3. 
 2.21 Severance Pay: the portion of Severance Benefits that are payable based on a Participant’s Base Earnings.

 2.22 Severance Period: the period equal to the total number of weeks of Base Earnings to be paid as Severance Pay hereunder.

 2.23 Severance Policies: the policies listed on Exhibit A, as amended and in effect from time to time, that provide the specific
benefit entitlement available under this Program to a Participant based on his or her job category at the time of the Qualifying Termination. The terms of each such Severance Policy shall be incorporated herein and made a part hereof. No Participant
shall be entitled to Severance Benefits under more than one Severance Policy and the Plan Administrator shall have sole discretion to determine which Severance Policy shall apply to a Participant. 
 2.24 Year of Service: each 12-month period of continuous service as an employee, commencing on a Participant’s most recent date of hire with
an Employer. A Participant shall not be given credit for a Year of Service unless he or she completes a full 12-month period of continuous service as an employee. 
 ARTICLE 3 
 BENEFITS 
 3.1 Eligibility for Severance Benefits: A Participant shall become entitled to Severance Benefits under this Program in the event he or she
experiences a Qualifying Termination, subject to the following: 
 (a) For purposes of this Program and all Severance Policies
hereunder, the determination of whether a Participant has experienced a Qualifying Termination, including, by way of illustration and not limitation, whether a termination is for (i) Cause, (ii) Performance Reasons or (iii) Good
Reason, will be made by the Plan Administrator, in its sole and absolute discretion, and such determination will be conclusive and binding on the Participant. 
 (b) A Participant shall not be eligible for Severance Benefits hereunder unless the Participant shall have experienced a Qualifying
Termination. 
 (c) No amount will be payable hereunder if the Participant dies prior to a proposed date of a Qualifying
Termination. 
  

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 (d) A Participant shall not be eligible for Severance Benefits hereunder if the
Participant is terminated by an Employer for Cause or for Performance Reasons or if the Participant quits (unless the Participant quits for Good Reason and the Severance Policy applicable to the Participant permits Severance Benefits under such
circumstances). 
 (e) A Participant shall not be eligible for Severance Benefits hereunder if the Participant has been
offered other employment by an Employer or by a successor entity (as hereinafter defined) in the same or a similar position as Participant’s position and that is at the same location or within 50 miles of Participant’s worksite, as of the
date he or she was notified of his or her proposed Qualifying Termination. For this purpose, a successor entity to an Employer shall mean a corporation or organization resulting from (i) the merger, consolidation or share exchange involving the
Employer in which the Employer is not the surviving corporation, or (ii) any corporation or organization succeeding to substantially all of the assets and business of the Employer. 
 (f) A Participant must satisfy each of the following conditions in order to receive Severance Benefits hereunder: 
  

	 	(i)	The Participant must not have notified an Employer (whether orally or in writing) of his or her intention to terminate employment with the Employer for any reason (including, by way
of illustration and not limitation, voluntary resignation, normal retirement or early retirement) prior to the Employer’s announcement of the proposed Qualifying Termination (other than a notice provided by a Participant in the case of a
termination for Good Reason, if applicable under the Severance Policy for the Participant); and 

  

	 	(ii)	The Participant must not be on a leave of absence as of the date of the Qualifying Termination; and 

  

	 	(iii)	The Participant must sign, and not revoke, if applicable, within the period specified therein, a Separation and Release Agreement, and if provided for under the applicable Severance
Policy, a Confidentiality and Restrictive Covenants Agreement and any other agreement(s), in each case in a form satisfactory to the Company. 

 3.2 Severance Benefits: A Participant’s Severance Benefits, including Severance Pay and Pro-Rated Bonus Payment, will be the amount determined under the applicable Severance Policy for the
Participant’s position in effect as of the date of the Qualifying Termination. 
 3.3 Time and Manner of Payment: Payments
hereunder will be made as follows: 
 (a) The Employer shall make payments of Severance Pay and any Pro-Rated Bonus Payment in
a lump sum on the first scheduled payroll date following execution of the agreements required by Section 3.1(f)(iii) hereof and the applicable Severance Policy or, if later, the first scheduled payroll date following the expiration of any
applicable revocation period under such agreements; provided, however, that to the extent any such agreements required by Section 3.1(f)(iii) hereof have been executed and not revoked, and payments have not been made as of the date 60 days
following the date of the 

  

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Qualifying Termination, all payments shall be made on such date. Notwithstanding the foregoing, all payments hereunder shall be subject to the provisions set
forth in Section 4.4 hereof related to compliance with Code Section 409A. 
 (b) The Company shall withhold from any
payments all federal, state, local or other taxes that are legally required to be withheld. 
 (c) Any payments due hereunder
for Severance Pay and Pro-Rated Bonus Payment shall be reduced by any other severance or termination payment due to a Participant, including, by way of illustration and not limitation, any amounts paid pursuant to federal, state or local government
worker notification (e.g., Worker Adjustment and Retraining Notification (W.A.R.N.) Act) or office closing requirements, any amounts owed a Participant pursuant to a contract with an Employer and amounts paid to a Participant placed in a
temporary layoff status (often referred to as a furlough), which immediately precedes the commencement of Severance Benefits hereunder. In addition, to the extent any federal, state or local government regulation provides for payments related to
accrued wages, bonuses, commissions, reimbursements, flextime or other benefits in an amount or manner different from the Employer’s policies and programs, including this Program, any payments hereunder for Severance Pay and Pro-Rated Bonus
Payment shall be offset by such amounts. 
 3.4 Rehire: If a Participant who receives payments hereunder for Severance Pay and
Pro-Rated Bonus Payment is reinstated, he or she will not be required to reimburse the Employer for any payments received prior to being rehired. Any unpaid Severance Pay and Pro-Rated Bonus Payment will be forfeited upon a Participant’s rehire
by an Employer. 
 3.5 Subsequent Employment: A Participant who receives payments hereunder for Severance Pay and Pro-Rated Bonus
Payment shall not be required to mitigate the amount of any such payments by seeking other employment or otherwise, and subject to Section 3.4 hereof, no such payment shall be offset or reduced by the amount of any compensation provided to the
Participant in any subsequent employment. 
 3.6 Accrued Wages and Expense Reimbursements: In addition to the Severance Benefits under
this Program, a Participant that experiences a Qualifying Termination shall be entitled to: (1) accrued wages due through the date of the Qualifying Termination in accordance with the Employer’s normal payroll practices;
(2) reimbursement for any unreimbursed business expenses properly incurred by the Participant prior to the date of the Qualifying Termination in accordance with the Employer’s policy (and for which the Participant has submitted proper
documentation as may be required by the Employer); and (3) any accrued but unused flextime pay. In addition, a Participant that is subject to an Employer commission plan or arrangement shall receive all commissions properly earned, but not yet
paid, in accordance with the terms of such plan or arrangement. All payments shall be subject to proper tax withholding. 
 3.7 Settlement
of Accounts: The Company may deduct (after all applicable tax withholdings have been deducted) from payments hereunder any indebtedness, obligation or liability owed by the Participant to an Employer as of his or her date of termination, as
permitted under applicable law. 
  

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 ARTICLE 4 
 MISCELLANEOUS 
 4.1 Employment Status: This Severance Program does not constitute a contract
of employment or impose on an Employer any obligation to retain any Eligible Employee as an employee or to change any employment policies of an Employer. Upon a Qualifying Termination hereunder, an Eligible Employee will thereafter cease to be an
employee for any purpose. 
 4.2 Right to Amend or Terminate: The Company, by action of the Board or its duly authorized delegee,
reserves the right at any time and from time to time to amend or terminate this Severance Program; provided, however, that subsequent to any Closing Date, the Program and each of the Severance Policies, all as in effect at the Closing Date, shall be
maintained in substance and effect for at least 24 months following any Closing Date, subject only to administrative, process or other amendments or changes that do not materially affect the rights of Eligible Employees hereunder. In the event a
Change of Control is structured as a sale of all or substantially all of the assets of the Company, the Company will negotiate for the Acquirer to assume and perform the obligations of the Company hereunder. 
 4.3 Large Scale Reduction in Force: In the event of a large scale reduction in force and except as otherwise limited by Section 4.2, the
Company reserves the right, on its behalf and on behalf of all Employers, to reduce, due to economic factors, the benefits set forth in Article 3 of the Severance Program. 
 4.4 Code Section 409A: It is the intention of the parties that no payment or entitlement pursuant to this Program will give rise to any
adverse tax consequences to any person pursuant to Code Section 409A. The Administrator shall interpret and apply the Program to that end, and shall not give effect to any provision herein in a manner that reasonably could be expected to give
rise to adverse tax consequences under Code Section 409A; provided, however, that nothing herein shall require an Employer to provide a Participant with any gross-up for any tax, interest or penalty that may be incurred under Code
Section 409A or otherwise. Any reimbursement due or expenses to be paid under any provision of this Severance Program shall be paid not later than March 15 of the year following the year in which the expense is incurred. In the case of any
payment on termination (other than in compliance with the requirements of Treas. Reg. §1.409A-1(b)(9)(iii) or (v) or of any successor thereto or any other provision that exempts a payment from Code Section 409A and other than any
payment that is a “short-term deferral” within the meaning of Treas. Reg. §1.409A-1(b)(4)(i)) while a Participant is a specified employee within the meaning of Code Section 409A(a)(2)(B)(i), in no event will such payment be made
earlier than six months after the Participant’s “separation from service” within the meaning of Treas. Reg. §1.409A-1(h). In the event that, due to Code Section 409A, a Participant does not receive one or more cash payments
that would otherwise be due during that six-month period, all such delayed payments will be made on the first day after the six-month anniversary of his or her “separation from service” within the meaning of Treas. Reg. §1.409A-1(h),
and thereafter any remaining payments shall be made in accordance with any existing schedule. 
  

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 EXHIBIT A 
  

			
	 Policy No.
	  	 Title

	COR-POL-230	  	Severance Policy - Executive Vice Presidents and Chief Executive Officer
	COR-POL-220	  	Severance Policy - Vice Presidents and Senior Vice Presidents
	COR-POL-210	  	Severance Policy - Managers and Directors
	COR-POL-200	  	Severance Policy - Employees and Supervisors

  

 Page 8 of 8Severance Policy for Executive Vice Presidents and the Chief Executive Officer

 Exhibit 10.3 
  

							
	 

  
	  	 Corporate Policy Manual
 American Tower Corporation
	  	  
 Document #:                            
  
 COR-POL-230
	  	  
 Rev.:                
  
 0

	    Title:	  	 Severance Policy – Executive Vice Presidents

 and Chief Executive Officer
  
	  	 Page #:
 
 1
 of 4
  

  

							
	  
 REVISION HISTORY
  

	  
     REV    
	  	  
 Description of Change

	  	  
 Author
	  	  
     Effective    
 Date

	 0
  
	  	 Initial Release
  
	  	         Human Resources        
  
	  	 3/2/2009

  

  

			
	 REFERENCE DOCUMENTS
  

	  
 Document Number
  
	  	 Document Title
  

	 	  	  
 American Tower Corporation Severance Program
  

  

	1.	Purpose 

 The purpose of this Policy is to specify the benefits
available to certain employees of American Tower Corporation and its affiliates in the event their job or position is eliminated. 
 This document is a part
of the American Tower Corporation Severance Program, which itself is part of the American Tower Corporation Benefits Plan, and is part of the summary plan description for the Benefits Plan. This document provides an overview of the benefits
available and must be read in conjunction with the Severance Program where, for example, certain terms are fully defined. In the event of an inconsistency between this document and the Severance Program and the Benefits Plan, the Severance Program
and Benefits Plan will govern. 
  

	2.	Scope 

 This Policy applies to “Eligible Employees” who
are “Participants” (each as defined in the Severance Program, but basically consisting of U.S. employees regularly scheduled to work at least 20 hours a week other than temporary or irregular employees or contractors) who hold the position
of “Executive Vice President” or “Chief Executive Officer” at the time of their termination, as determined by the Administrator of the Benefits Plan. For purposes of employees covered by this Policy, however, the requirement that
an individual be employed for at least 90 continuous days in order to be an “Eligible Employee” shall not apply. Employees meeting these requirements are referred to below as “Covered Employees.” 
 A Covered Employee is eligible for Severance Benefits under the Severance Program if he or she experiences a Qualifying Termination (defined in the Severance Program but
basically limited to our termination of an individual’s employment due to the elimination of that person’s job or position). A Qualifying Termination also includes a termination by the Covered Employee of his or her employment for
“Good Reason.” Good Reason is defined in the Severance Program, but generally means that we have, without the Covered Employee’s written consent (and after notice and 

  

  
 Confidential 

							
	 

  
	  	 Corporate Policy Manual
 American Tower Corporation
	  	  
 Document #:                            
  
 COR-POL-230
	  	  
 Rev.:                
  
 0

	    Title:	  	 Severance Policy – Executive Vice Presidents

 and Chief Executive Officer
  
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 of 4
  

  

 
opportunity for correction), materially diminished his or her annual Base Earnings (as defined below) or authority, duties or responsibilities or relocated
his or her worksite more than 50 miles from his or her existing worksite. Note that if a Covered Employee voluntarily quits (or than for Good Reason) or is terminated for “Cause” or “Performance Reasons” (each as defined in the
Severance Program) or leaves for any other reason, Severance Benefits are not available under the Severance Program. 
  

	3.	Severance Benefits 

  

	 	3.1	Severance Pay 

 The amount of Severance Pay is based
on “Base Earnings”. “Base Earnings” are generally defined in the Severance Program as a Covered Employee’s weekly rate of pay as of the date of termination without regard to other forms of compensation, such as overtime,
bonuses or equity compensation. 
 A Covered Employee who experiences a Qualifying Termination will receive Severance Pay equal to the number
of weeks of his or her Base Earnings as set forth in the table below. 
  

			
	 Covered Employee
	  	 Severance Pay

	Executive Vice President	  	78 weeks of Base Earnings
		
	Chief Executive Officer	  	104 weeks of Base Earnings

 The total number of weeks for which you will receive Severance Pay is referred to as the Severance
Period. 
  

	 	3.2	Pro-Rated Bonus Payment 

 A Covered Employee who
experiences a Qualifying Termination will receive a Pro-Rated Bonus Payment equal to the amount of bonus that would have been paid had he or she remained employed for the applicable bonus period (e.g. annual or quarterly), in effect on the date of
termination, and assuming all goals and objectives for such bonus had been 100% achieved, multiplied by the number of completed days of service prior to termination divided by the number of days in the bonus period. 
 Example: Stuart is eligible for an annual bonus for 2009 equal to 60% of Stuart’s annual salary, which is currently $300,000. Stuart, a Covered
Employee, is terminated November 4, 2009. Stuart is entitled to a bonus of $151,890 ($300,000 [salary] times 60% [bonus amount] times 308 [completed days prior to termination] divided by 365 [total days in bonus period]). 
  

	 	3.3	Health and Welfare Benefits 

 As long as a Covered
Employee has not breached any agreement referred to in Section 3.5(a), the following additional health, welfare and fringe benefits will be available. 
  

	 	a)	 If a Covered Employee who experiences a Qualifying Termination elects to continue group medical and/or dental coverage under the federal law known as
“COBRA,” we will continue to pay the employer share of the cost of coverage in accordance with 

  

  
 Confidential 

							
	 

  
	  	 Corporate Policy Manual
 American Tower Corporation
	  	  
 Document #:                            
  
 COR-POL-230
	  	  
 Rev.:                
  
 0

	    Title:	  	 Severance Policy – Executive Vice Presidents

 and Chief Executive Officer
  
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standard payment practices until the earlier of (i) the end of the applicable Severance Period and (ii) the date on which COBRA coverage ends. A
Covered Employee must continue to pay the employee share of the cost of coverage during this period, and, if he or she remains COBRA-eligible, must pay for the entire cost of COBRA coverage for the remainder of the COBRA period.

  

	 	b)	The Employee Assistance Plan will remain available to Covered Employees who experience a Qualifying Termination or who quit for Good Reason (and their family members) during the
applicable Severance Period. 

  

	 	c)	A Covered Employee who experiences a Qualifying Termination is eligible to submit reimbursement for any eligible expenses under the Wellness Reimbursement Program provided that the
expenses were incurred prior to termination. All reimbursements must be received by the Benefits Department within 30 days of the termination date and are subject to the guidelines of the Wellness Reimbursement Program. Requests for reimbursement
received beyond the 30-day timeframe will not be processed. 

  

	 	d)	A Covered Employee who experiences a Qualifying Termination will be reimbursed for any pre-approved courses under the Educational Assistance Policy prior to termination as long as
he or she satisfies the conditions for reimbursement under that Policy (such as the satisfactory grade requirement). To be eligible for reimbursement, the former employee must submit for reimbursement within 60 days of receipt of the final grade.

  

	 	e)	A Covered Employee who experiences a Qualifying Termination is eligible for outplacement services through a provider selected by us for a period of nine months following
termination. 

  

	 	3.4	Accelerated Vesting of Certain Equity Compensation. 

 Notwithstanding anything to the contrary in any equity compensation plan or agreement, if within 14 days before or two years following a “Change of Control,” as defined in the Severance Program, a Covered Employee experiences a
Qualifying Termination, all outstanding equity-based awards then held by the Covered Employee, including but not limited to all stock options and restricted stock units, shall be accelerated so that they vest in full as follows: (a) if the
Covered Employee experiences a Qualifying Termination prior to a Change of Control, all of his or her outstanding equity-based awards shall vest in full effective as of the date of the Change of Control and (b) if the Covered Employee
experiences a Qualifying Termination following a Change of Control, all of his or her outstanding equity-based awards shall vest in full effective as of the date of termination. In the event the Covered Employee quits for Good Reason, this
Section 3.4 shall only apply if the Good Reason condition occurs within 14 days before or two years following the Change of Control (and the notice and remedy provisions relating to the Good Reason set forth in the Severance Plan are (or are
not, as applicable) satisfied). 
  

	 	3.5	Time and manner of Benefits 

  

	 	a)	 No Severance Benefits will be made or provided under the Severance Program unless the Covered Employee has signed and timely returned, and not revoked, if
applicable, a “Separation and Release Agreement” and a “Confidentiality and Restrictive Covenants Agreement,” each as defined in the Severance Program and 

  

  
 Confidential 

							
	 

  
	  	 Corporate Policy Manual
 American Tower Corporation
	  	  
 Document #:                            
  
 COR-POL-230
	  	  
 Rev.:                
  
 0

	    Title:	  	 Severance Policy – Executive Vice Presidents

 and Chief Executive Officer
  
	  	 Page #:
 
 4
 of 4
  

  

	 	 
each in a form satisfactory to us. These agreements will, among other things, provide us with a release for all claims and damages that the Covered Employee
may have in connection with or arising out of his or her employment or the termination of employment with us. 

  

	 	b)	Severance Pay and any Pro-Rated Bonus Payment will be made in a lump sum with the first scheduled payroll after the Covered Employee executes and returns the agreements referred to
above (or with the first scheduled payroll after the revocation period has expired), and all payments are subject to applicable tax withholding. We may also deduct any amounts a Covered Employee owes us to the extent permitted by applicable law.

  

	 	c)	Severance Pay and any Pro-Rated Bonus Payment will be reduced by any other severance or termination payments due to a Covered Employee (such as a payment required pursuant to
W.A.R.N.), any amounts owed a Covered Employee pursuant to a contract with us, and amounts paid to a Covered Employee placed in a temporary layoff status (often referred to as a furlough). Severance Pay and any Pro-Rated Bonus Payment will also be
reduced to the extent any law provides for payments related to accrued wages, bonuses, commissions, reimbursements, flextime or other benefits in an amount or manner different from our policies and programs, including the Severance Program.

  

	 	d)	If applicable under the agreements referred to in Section 3.5(a) above, a portion of the after-tax payments made under this Policy shall be deposited and maintained in a
restricted account to serve as security for the Covered Employee’s compliance with the ongoing covenants, restrictions and obligations contained in the agreements, with restrictions on distribution up to and including forfeiture in the event on
non-compliance. 

  

	 	e)	If a Covered Employee is later rehired by us, he or she may keep whatever Severance Pay and Pro-Rated Bonus Payment has been paid prior to being rehired, but will lose any right to
unpaid Severance Pay and Pro-Rated Bonus Payment. 

  

	4.	Additional Information 

 Although not part of the
Severance Program, the following is a summary (not necessarily inclusive) of additional benefits that may be available to Covered Employees: 
  

	 	a)	Covered Employees are entitled to: (1) accrued wages due through the date of their termination in accordance with our normal payroll practices; (2) reimbursement for any
unreimbursed business expenses properly incurred prior to termination in accordance with our policies (and for which proper documentation has been submitted); and (3) any accrued but unused flextime pay. 

  

	 	b)	Vesting of outstanding stock options and restricted stock units will stop on the date of termination, and all unvested stock options and restricted stock units will be cancelled.

  

	 	c)	In general, employees have 90 days to exercise vested stock options granted under the American Tower Systems Corporation 1997 Stock Option Plan and three months to exercise vested
stock options granted under the American Tower Corporation 2007 Equity Incentive Plan, but an employee should refer to his or her own option agreement(s) to confirm the exact post-termination exercise period of each option. 

 

  
 Confidential

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