Board Service Payments Clause Samples

Board Service Payments. If during the period beginning on the Separation Date and ending on the earlier of (i) November 5, 2021 and (ii) the date on which Executive no longer serves on the board of directors of NorthStar Realty Europe Corp. (the “NRE Board”), Executive does not receive compensation from NorthStar Realty Europe Corp. for Executive’s service on the NRE Board that is at least equal to that provided to other non-employee members of the NRE Board, then Colony shall provide cash payments to Executive that Colony determines in good faith to be substantially equivalent to both (x) the amount of compensation (including both cash and equity compensation) that the other non-employee members of the NRE Board receive in connection with such service for such period and (y) the time in which such compensation is received and/or vests.