Paramount Group finalizes CFO Wilbur Paes separation; $2.05M lump sum payment

Paramount Group, Inc.

Executed Separation Agreement with former COO/CFO Paes; lump sum of $2,050,000 plus pro-rata bonus of $371,712.
Health care payment of $73,011; vesting of 817,187 LTIP units and 227,825 AOLTIP units.
Remains eligible for pro-rata portion of 450,282 performance-based LTIP units and 1,621,973 AOLTIP units subject to performance vesting.
Paes subject to non-solicitation, non-competition covenants and general release of claims.

item 5.02item 9.01

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