Company: DRH-PA
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0001298946-25-000038
Chunk: 70

Company: DiamondRock Hospitality Co
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 70
---
 a lump sum payment equal to two times, with respect to Mr. Donnelly, Mr. Leonard and Ms. Quinn, or one and half times, with respect to Ms. Fischer, the sum of (x) their then current base salary and (y) their target bonus under our annual cash incentive compensation program. If Mr. Donnelly, Mr. Leonard and Ms. Quinn experience a qualifying termination following a change of control. they will receive a lump sum payment equal to three times the sum of (x) their then current base salary and (y) their target bonus under our annual cash incentive compensation program.

In addition, if we terminate such executive’s employment without cause or such executive resigns with good reason, or if the executive dies or becomes disabled, the executive (or their family) will be entitled to (i) a pro-rated bonus for the year of termination under our cash incentive program at target, (ii) continued life, health and disability insurance coverage for himself, their spouse and dependents for eighteen months and (iii) in the cases of death or disability, the immediate vesting of any unvested portion of any time-based restricted stock or LTIP unit award previously issued to the executive,provided that if any such award was issued within the 12 month period prior to a termination without cause or a resignation for good reason such acceleration will be prorated. If we terminate the executive’s employment without cause or such executive resigns with good reason, each PSU award previously issued to the executive will vest and the number of shares issued to the executive will equal the target amount. Upon a change in control, the Company will determine the number of PSUs earned based on the performance as of the date immediately prior to the change in control, but such awards shall remain subject to service vesting for the remainder of the performance period, which vesting will be accelerated if either the successor entity does not assume and continue the awards or if there is a subsequent involuntary termination.

In the event that the executive retires and has been designated as an eligible retiree by our Board of Directors, the executive will be eligible to continue to vest in any outstanding unvested restricted stock, LTIP unit and PSU awards, but the executive will not receive any cash severance or any continued life, health, or disability coverage for himself or his spouse or dependents.

The following table sets forth a summary of our payment obligations pursuant to the severance agreements as of December 31, 2024:

|                                                      |     | Terminated