Company: NXNVW
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0001213900-25-031073
Chunk: 40

Company: NEXTNAV INC.
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 40
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 year in which the termination date occurs. Further, the accelerated vesting outlined in clause (iv) above will occur without regard to the 12-month period. Notwithstanding the foregoing, if Ms. Sorond is terminated without cause during the first two years of her employment, all of her then outstanding unvested performance-based equity awards will vest as of the date immediately prior to her termination. Chris Gates On November 11, 2021, Mr. Gates entered into an employment agreement with the Company (the “Gates Employment Agreement”). The Gates Employment Agreement entitles him to the annual base salary and annual target bonus opportunity, which will equal a percentage of his annual base salary, as described above under “— Annual Base Salaries.”

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The Gates Employment Agreement also contains certain severance terms. In the event Mr. Gates experiences a Qualifying Termination Event, then, subject to his timely execution and non-revocation of a release of claims in our favor, Mr. Gates will be entitled to (i) a lump sum payment equal to the Mr. Gates’s base salary, (ii) Mr. Gates’s earned but unpaid annual bonus with respect to any completed calendar year immediately preceding the termination date, (iii) upon timely election, COBRA premiums for up to 12 months, (iv) all of Mr. Gates’s outstanding unvested equity based compensation awards granted as of the closing date of the Business Combination will fully vest immediately prior to the termination date, (v) all of the Mr. Gates’s outstanding unvested equity-based awards subject to time-based vesting, other than those covered in clause (iv) above and clause (vi) below, that would have become vested (but for such termination) during the 12 month period beginning on the termination date, will vest as of the date immediately prior to the termination date, and (vi) all of Mr. Gates’s then outstanding unvested restricted stock units granted in connection with the Business Combination and unvested performance awards will vest in accordance with the grant agreements. If Mr. Gates experiences a Qualifying Termination Event within the period beginning on the date we enter into a definitive agreement that if consummated would result in a change in control and ending on the 12 month anniversary of such change in control, Mr. Gates will be entitled to all items specified in clauses (i) through (vi) above, except that, in lieu of the amount in clause (i) above, Mr. Gates will be entitled