Company: PRMB
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0001140361-25-009675
Chunk: 33

Company: Primo Brands Corp
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 33
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 other than: |

| ○ | issuances to Primo Brands or its wholly-owned subsidiaries; |

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TABLE OF CONTENTS

| ○ | issuances of up to 3% of the outstanding equity securities of Primo Brands or any of its subsidiaries; |

| ○ | issuances pursuant to an equity compensation plan that came into effect at the Closing or approved by the Board; or |

| ○ | upon the conversion of convertible securities outstanding at the Closing or approved pursuant to the above requirements; |

| • | enter into or materially amend any joint ventures or similar business alliances with a fair market value of greater than $200 million; |

| • | enter into or materially amend any agreement providing for the acquisition or divestiture of assets or securities providing for aggregate consideration in excess of $200 million; |

| • | declare or pay dividends to stockholders on a non-pro rata basis or in excess of $175 million in the aggregate in any fiscal year; |

| • | redeem or repurchase equity securities, other than (i) from a departing associate, officer, director, or independent contractor as contemplated by the applicable equity plan or award agreement; or (ii) in connection with the clawback of erroneously awarded compensation in compliance with SEC rules; |

| • | incur indebtedness for borrowed money that would cause the total net leverage ratio (as such term or equivalent term is customarily defined) of the Company to exceed 3.5x, other than (i) incurrences under the senior note indentures in existence at Closing; and (ii) incurrences made in the ordinary course of business under the BlueTriton credit agreements in existence at the Closing; |

| • | amend, modify, waive, or repeal any provision of the Stockholders Agreement or the organizational documents of Primo Brands or any of our subsidiaries that adversely affects the powers, preferences, rights, or protections of the ORCP Stockholders or the Sponsor Nominees (as such term is defined in the Stockholders Agreement), increases the liability of a Sponsor Nominee, or adversely affects the Company’s ability to perform its obligations under the Stockholders Agreement; |

| • | designate a director to the Board other than in accordance with our Certificate of Incorporation; and |

| • | enter into an agreement to do any of the foregoing. |

Pursuant to the Stockholders Agreement, approval of 66 2⁄3% of the Board will be required in order for the Company to do any of