Company: ABM
Filing Date: 2025-02-14
Form Type: DEF 14A
Source: 0000950170-25-020776
Chunk: 64

Company: ABM INDUSTRIES INC /DE/
Filing Date: 2025-02-14
Form: DEF 14A
Chunk 64
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 sum of his base salary and target cash incentive compensation, 18 months medical benefits coverage, his prorated cash bonus for the year of termination based on the Committee’s determination of actual performance following the end of the performance period, and any earned but unpaid cash bonus in respect of any completed fiscal year that has ended prior to the date of such termination if he is terminated without “cause”. Under the terms of their respective employment agreements in effect during fiscal year 2024, and in connection with a termination of employment by the Company without cause, Messrs. Ellis, Jacobsen, and Valentín would each receive 2.0 times the sum of base salary plus target cash incentive compensation, 18 months medical benefits coverage, prorated cash bonus for the year of termination based on the Committee’s determination of actual performance following the end of the performance period, and any earned but unpaid cash bonus in respect of any completed fiscal year that has ended prior to the date of such termination.

Performance awards granted under the 2021 Equity and Incentive Compensation Plan generally vest pro rata (based on the number of months of services of the vesting period) in the event of a termination without cause at least one year after the grant date.

<div align='center'>Potential Payments upon Death or Disability</div>

The following table estimates potential payments for our NEOs if the NEO had been terminated due to death or disability on October 31, 2024. All amounts shown are lump-sum payments, unless otherwise noted.

| Name          |    Unpaid 
 Bonus for 
   2024(1) 
       ($) |   Health 
  Benefit 
 Payments 
      ($) | Equity Grants 
    Vesting(2) 
           ($) | Total(3)(4) 
         ($) |
| Scott Salmirs | 1,500,000 |        0 |    18,478,891 |  19,978,891 |
| Earl R. Ellis |   787,500 |        0 |     4,812,885 |   5,600,385 |
| Rene Jacobsen |   875,000 |        0 |     8,747,530 |   9,622,530 |
| Raύl Valentín |   350,000 |        0 |     2,231,600 |   2,581,600 |

Amount assumes target bonus at fiscal year-end 2024.

ABM Industries Incorporated 2025 Proxy