COMPENSATION
Services, LLC, he participates in the Severance Plan, however, the amounts that
Mr. Aristone would receive under that plan have been amended by a separate letter agreement entered into on May 8, 2013. The letter agreement relates specifically to severance benefits upon termination following a change of control and is
discussed in Compensation2021 Executive CompensationTermination or Change of Control Arrangements, beginning on page 46.
Heather Crowell
Heather Crowell does not have a separate employment agreement with PREIT,
though she generally participates in PREITs cash and equity incentive programs as determined by the Compensation Committee. As an officer of PREIT Services, LLC, she participates in the Severance Plan, however, the amounts that
Ms. Crowell would receive under that plan have been amended by a separate letter agreement entered into on February 24, 2014. The letter agreement relates specifically to severance benefits upon termination following a change of control
and is discussed in Compensation2021 Executive CompensationTermination or Change of Control Arrangements, beginning on page 46.
Andrew M. Ioannou
Andrew M. Ioannou does not have a separate employment agreement with
PREIT, though he generally participates in PREITs cash and equity incentive programs as determined by the Compensation Committee. As an officer of PREIT Services, LLC, he participates in the Severance Plan, however, the amounts that
Mr. Ioannou would receive under that plan have been amended by a separate letter agreement entered into on May 8, 2013. The letter agreement relates specifically to severance benefits upon termination following a change of control and is
discussed in Compensation2021 Executive CompensationTermination or Change of Control Arrangements, beginning on page 46.
Lisa M. Most
Lisa M. Most does not have a separate employment agreement with PREIT,
though she generally participates in PREITs cash and equity incentive programs as determined by the Compensation Committee. As an officer of PREIT Services, LLC, she participates in the Severance Plan, however, the amounts that Ms. Most
would receive under that plan have been amended by a separate letter agreement entered into on December 21, 2017. The letter agreement relates specifically to severance benefits upon termination following a change of control and is discussed in
Compensation2021 Executive CompensationTermination or Change of Control Arrangements, beginning on page
46.
Named Executive Officers Generally
The employment agreements for Joseph F. Coradino and Mario C. Ventresca, Jr. also provide for certain severance and other benefits upon certain
terminations of employment, as well as certain non-competition/non-solicitation obligations of the executive. The Severance Plan and related letter agreements for
Messrs. Aristone and Ioannou and Mses. Crowell and Most similarly provide for certain severance and other benefits upon termination of employment. See Compensation2021 Executive CompensationTermination or Change of Control
Arrangements, beginning on page 46, for a description of all such benefits and obligations.
Termination
or Change of Control Arrangements
Following is a summary of the arrangements that provide for payment to our named executive officers at, following or in connection with any termination,
including resignation, severance, retirement or constructive termination, or in connection with a change of control or a change in the named executive officers responsibilities.
In connection with any actual termination of employment or change of control transaction, however, we may decide to enter into an agreement or establish
an arrangement providing different or additional amounts, or altering the terms of the benefits described below.
Termination by Us Without Cause, Termination by a Senior Executive for Good Reason or Our Election Not to Renew the
Employment Agreement Not Associated with a Change in Control.
If we terminate Joseph F. Coradinos employment for a reason other
than for cause, which is generally defined to include fraud in connection with his employment, theft of PREIT funds, acts which are grounds for termination under our Code of Business Conduct and Ethics, indictment for a crime of moral
turpitude, breach of confidentiality or
46 2022 Proxy Statement