Company: AWK
Filing Date: 2025-10-27
Form Type: 425
Source: 0001193125-25-250649
Chunk: 113

Company: American Water Works Company, Inc.
Filing Date: 2025-10-27
Form: 425
Chunk 113
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 other matters of a purely administrative nature and as mutually agreed by Parent and the
Company and (iv) any other matters that are required by applicable Law.

(j) Unless this Agreement has been terminated in accordance
with , the Company’s obligation to call, give notice of and hold the Company Shareholder Meeting in accordance with shall not be limited or otherwise affected by the
commencement, disclosure, announcement or submission of any Company Superior Proposal or Company Competing Proposal, or by any Company Adverse Recommendation Change.

(k) Without the prior written consent of the Company (which consent shall not be unreasonably withheld, conditioned or delayed), the only
matters to be voted upon at the Parent Stockholder Meeting are (i) the Parent Common Stock Issuance, (ii) any adjournment of the Parent Stockholder Meeting, (iii) any other matters of a purely administrative nature as mutually agreed
by the Company and Parent and (iv) any other matters that are required by applicable Law.

72

(l) Unless this Agreement has been terminated in accordance with
, Parent’s obligation to call, give notice of and hold the Parent Stockholder Meeting in accordance with shall not be limited or otherwise affected by the
commencement, disclosure, announcement or submission of any Parent Superior Proposal or Parent Competing Proposal, or by any Parent Adverse Recommendation Change.

Section 5.7 .

(a) From the Effective Time until the end of the calendar year following the calendar year during which the Effective Time occurs, Parent
shall provide, or shall cause to be provided, to each Company Employee who is employed by the Company immediately prior to the Effective Time whose employment with the Company (or Parent or any Parent Subsidiary) continues after the Effective Time
(each, a “”) (other than such employees covered by collective bargaining agreements), while employed (i) base salary or wage rate, target annual cash incentive opportunity and target long-term performance
opportunity that are no less favorable, in the aggregate, than the base salary or wage rate, target annual cash incentive opportunity and target long-term performance opportunity provided to such Continuing Employee as of immediately prior to the
Effective Time; that (A) Parent shall provide, or shall cause to be provided, to each Continuing Employee with at least the same base salary or wage rate as provided to such Continuing Employee as of immediately prior to the
Effective Time and (B) any long-term performance opportunities provided may be cash-based or equity-based as determined by Parent in its sole discretion, and (