Company: PRMB
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0001140361-25-009675
Chunk: 97

Company: Primo Brands Corp
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 97
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’s policies; |

| (ii) | theft, fraud, dishonesty or misappropriation by the participant, or the gross negligence or willful misconduct by the participant, involving the property, business or affairs of Primo Water or a subsidiary, or in the carrying out of the participant’s duties, including, without limitation, any breach by the participant of the representations, warranties and covenants contained in the participant’s employment agreement; |

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

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

| (v) | any other action that constitutes cause for termination of the Grantee’s employment with Primo Water or a subsidiary under any other agreement to which the participant is a party or under applicable law. |

The definition of “ Good Reason” in the Legacy Equity Plans is substantially similar to the definition of “ Good Reason” in the Severance Plan, as described below, except that the Legacy Equity Plans provide that individual employment agreement definitions control, if applicable. The definitions of “ Cause” and “ Good Reason” in the Primo Brands Equity Plan and corresponding award agreements are substantially similar to the definitions of “ Cause” and “ Good Reason” in the Severance Plan, as described below. If a Change of Control had occurred on December 31, 2024 and either (1) the surviving or successor entity continued, assumed or replaced awards and within two years after the Change of Control, a NEO was involuntarily terminated for reasons other than Cause, or terminated his or her employment for Good Reason, or (2) the surviving or successor entity did not continue, assume or replace awards outstanding as of such date, and the Compensation Committee had not in either case elected to terminate some or all of such outstanding awards in exchange for payments to the holders as provided in the Equity Plans, the unvested awards granted to our NEOs who were employed by us as of such date would have vested on an accelerated basis as set forth below:

| Equity Plans      |     | Accelerated 
     Vesting 
      ($)(1) |
| Robbert Rietbroek |     |  24,192,851 |
| David Hass        |     |   8,080,971 |
| Robert Austin     |     |   1,080,304 |
| Marni Morgan Poe  |