Company: PRMB
Filing Date: 2025-02-27
Form Type: S-1/A
Source: 0001193125-25-039341
Chunk: 80

Company: Primo Brands Corp
Filing Date: 2025-02-27
Form: S-1/A
Chunk 80
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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 named executive officer 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 named executive officers 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  |     |             |  6,130,984 |
| Hih Song Kim      |     |             |  1,398,035 |

Notes:

| (1) | Includes the value, based on the closing price of our common shares on the NYSE as of December 31, 2024                                                                                                     
 ($30.77), the last business day of our 2024 fiscal year, of common shares issuable pursuant