Company: CRD-A
Filing Date: 2025-04-07
Form Type: DEF 14A
Source: 0001558370-25-004509
Chunk: 80

Company: CRAWFORD & CO
Filing Date: 2025-04-07
Form: DEF 14A
Chunk 80
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 discretion determines should be treated as a total and permanent disability under Section 22(e)(3) of the Code.

(l)“Effective Date” shall have the meaning set forth in Section 1(a).

(m)“Eligible Employee” shall mean each individual who performs services for, and who is classified as an employee on the payroll records of the Company or a Subsidiary except:

(i)An individual who has not completed at least forty-five (45) days of full and continuous employment as an employee of the Company or such Subsidiary;

(ii)An individual who customarily is employed 20 hours or less per week by the Company or such Subsidiary;

(iii)An individual who customarily is employed for not more than five (5) months in any calendar year by the Company or such Subsidiary; and

(iv)An individual who would own (immediately after the grant of Purchase Rights under this Plan) stock possessing 5% or more of the total combined voting power or value of all classes of stock of the Company based on the rules set forth in Sections 423(b)(3) and 424(d) of the Code.

Notwithstanding the foregoing, the Committee may, on a prospective basis, impose an eligibility service requirement of up to two (2) years of employment with the Company or a Subsidiary. The Committee may also determine that a designated group of highly compensated employees (within the meaning of Section 414(q) of the Code) are ineligible to participate in the Plan.

An individual’s continuous employment by the Company or by a Subsidiary shall not be treated as interrupted by a transfer directly between the Company and any Subsidiary or between one Subsidiary and another Subsidiary.

(n)“Exercise Date” shall mean for each Purchase Period the last day of such Purchase Period.

(o)“Fair Market Value” shall mean, with respect to any date, the closing price of the Common Stock on the New York Stock Exchange on that date or, in the event that the Common Stock is not traded on that date, the closing price on the immediately preceding trading date. If the Common Stock is no longer traded on the New York Stock Exchange, then “Fair Market Value” shall mean, with respect to any date, the fair market value of the Common Stock as determined by the Committee in good faith.

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(p)“Participant” shall mean for each Purchase Period an Eligible Employee