Sun Communities, Inc. disclosed an amended and restated employment agreement with Aaron Weiss, its Chief Investment Officer and Executive Vice President. The new agreement secures his employment for a five-year term, outlining his compensation, severance terms, and equity award provisions.
Key Details
- Agreement Term: The new five-year employment agreement becomes effective on October 19, 2026, and is automatically renewable for successive one-year terms.
- Compensation: Mr. Weiss will receive an annual base salary of $600,000 and is eligible for an annual cash bonus with a target amount of 100% of his base salary.
- Severance & Termination: If terminated without cause or for good reason, Mr. Weiss is entitled to severance equal to 1.5 times the sum of his base salary and target bonus. In the event of a termination following a change in control, this increases to 2.0 times.
- Equity Vesting: The agreement provides for the accelerated vesting of time-based and certain performance-based equity awards upon qualifying terminations, including termination without cause, for good reason, death, or disability.