PREFERRED APARTMENT COMMUNITIES, INC. EXECUTIVE SEVERANCE AND CHANGE-IN-CONTROL PLAN PARTICIPATION AGREEMENTExecutive Severance and Change-in-Control Participation Agreement • August 6th, 2020 • Preferred Apartment Communities Inc • Real estate investment trusts • Georgia
This Participation Agreement (the “Participation Agreement” or this “Agreement”) is entered into effective as of __________________________, 2020 (the “Participation Date”), by and between Preferred Apartment Advisors, LLC. (the “Employer”) and you (the “Participant”), pursuant to the Preferred Apartment Communities, Inc. Executive Severance and Change in Control Plan (the “Plan”). The Participant agrees that the terms and conditions of this Agreement and the Plan will govern the Participant’s rights with respect to the severance and change-in-control benefits provided under Sections 5(b) and 5(c) of the Plan (the “Benefits”). The Employer agrees to be bound by all the terms of the Plan that apply to it as the employing Affiliate of the Company. The Participant and the Employer agree to execute such further instruments and to take such further action as may reasonably be necessary to carry out the intent of this Participation Agreement. Except as defined in this Participation Agreement
