Company: PRMB
Filing Date: 2025-03-07
Form Type: 424B3
Source: 0001193125-25-049851
Chunk: 83

Company: Primo Brands Corp
Filing Date: 2025-03-07
Form: 424B3
Chunk 83
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 by the
participant, or the gross negligence or willful misconduct by the participant, involving the property, business, or affairs of the Corporation or a subsidiary, including, without limitation, any breach by the participant of the representations,
warranties, and covenants contained in the participant’s employment or service agreement, if applicable, or Section 7 of the Severance Plan;

(iii) the participant’s commission or conviction of, or plea of guilty to, a criminal offense that involves fraud,
dishonesty, theft, violence, or other moral turpitude;

(iv) the participant’s breach of a fiduciary duty owed
to the Company or a subsidiary; or

(v) the participant’s refusal to follow the lawful, reasonable, and good
faith direction of the Board or the participant’s supervisor.

The Severance Plan defines “Good Reason” to include any of
the following:

(i) a material diminution in the participant’s title or duties or assignment to the participant
of materially inconsistent duties;

(ii) a reduction in the participant’s then current annual base salary or
target bonus opportunity as a percentage of annual base salary, unless such reduction in target bonus opportunity is made applicable to all participants serving in substantially the same capacity as the participant;

(iii) relocation of the participant’s principal place of employment to a location that is more than 50 miles away
from the participant’s principal place of employment on the date upon which the participant became a participant, unless such relocation is effected at the request of the participant or with the participant’s approval;

(iv) a material breach by Primo Brands of any provisions of the Severance Plan, or any employment agreement to which the
participant and Primo Brands are parties, after written notice by the participant of the breach and such failure remaining uncorrected following an opportunity for Primo Brands to correct such failure within ten days of the receipt of such notice;
or

(v) the failure of Primo Brands to obtain the assumption in writing of its obligation to perform the Severance
Plan by any successor to all or substantially all of the business or assets of Primo Brands within fifteen days after a merger, consolidation, sale or similar transaction.

If a participant’s employment is terminated by us without Cause or by the participant for Good Reason, he or she will receive a cash
payment of an amount equal to the participant’s total annual base salary and target bonus multiplied by his or her severance multiple. The terminated participant would also be paid accrued salary and vacation through the date of