Common use of Termination of Service; Change in Control Clause in Contracts

Termination of Service; Change in Control. (a) If the Recipient’s service as a Trustee terminates due to the Recipient’s death, then the Time-Based LTIP Units shall become vested as of the date of the termination of the Recipient’s service on a pro rata basis, determined based on (x) the number of days that have elapsed from the Grant Date through the date the Recipient ceases to be a Trustee of the Company, compared to (y) the total number of days during the period commencing on the Grant Date and ending on the fourth anniversary of the Grant Date. Notwithstanding the foregoing, if, within twelve (12) months after a Change in Control in which the Time-Based LTIP Units are assumed by the acquirer or surviving entity in the Change in Control transaction, the Recipient dies or is no longer Chairman of the Board, then the Time-Based LTIP Units shall become fully vested as of the date of the Recipient’s death or the date the Recipient is no longer Chairman of the Board, as applicable.

Termination of Service; Change in Control. (a) If the Recipient’s service as a Trustee terminates due to the Recipient’s death, then the Time-Based LTIP Units shares of Restricted Stock shall become vested as of the date of the termination of the Recipient’s service with the Company on a pro rata basis, determined based on (x) the number of days that have elapsed from the Grant Date through the date the Recipient ceases to be a Trustee of the Company, compared to (y) the total number of days during the period commencing on the Grant Date and ending on the fourth anniversary of the Grant Date. Notwithstanding the foregoing, if, within twelve (12) months after a Change in Control in which the Time-Based LTIP Units shares of Restricted Stock are assumed by the acquirer or surviving entity in the Change in Control transaction, the Recipient dies or is no longer Chairman of the Board, then the Time-Based LTIP Units shares of Restricted Stock shall become fully vested as of the date of the Recipient’s death or the date the Recipient is no longer Chairman of the Board, as applicable.