Company: CTLPP
Filing Date: 2025-07-24
Form Type: DEFM14A
Source: 0001140361-25-027048
Chunk: 115

Company: CANTALOUPE, INC.
Filing Date: 2025-07-24
Form: DEFM14A
Chunk 115
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 but not limited to, engaging an accounting or valuation firm (i) to perform calculations regarding Sections 280G and 4999 of the Code including, in consultation with 365, assigning value for reasonable post-closing compensation to restrictive covenants that continue following the closing of the Merger and accelerating the timing of payment of annual incentive plan awards that are earned in 2025 but may otherwise be payable in 2026, and (ii) to recommend 280G mitigation actions to reduce the amount of any potential “excess parachute payments” for “disqualified individuals” (each as defined in Section 280G of the Code), including the acceleration of vesting and/or payment of compensation or equity-based awards (which we refer to as, collectively, “280G Mitigation”), with the implementation of any 280G Mitigation strategies to be subject to the prior consent of 365 (not to be unreasonably withheld, conditioned or delayed). Cantaloupe may also amend existing employee benefit plans to incorporate “best after-tax cutback” provisions. For clarity, Cantaloupe will not provide for the gross-up or reimbursement of excise taxes payable under Section 4999 of the Code.

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Indemnification of our Directors and Officers 365 has agreed to cause the surviving corporation, and the surviving corporation has agreed to, provide certain indemnification and insurance to our directors and officers. For more information, see the section of this proxy statement titled “ The Merger Agreement—Directors’ and Officers’ Indemnification and Insurance”. Quantification of Potential Payments and Benefits to Our Named Executive Officers In accordance with Item 402(t) of Regulation S-K promulgated under the Securities Act of 1933, as amended, the table below sets forth the amount of payments and benefits that each of our named executive officers would or may receive in connection with the Merger. The amounts reported below are based on various assumptions that may or may not actually occur or be accurate on the relevant date, including assumptions described in the footnotes to the table and the below:

| • | The employment of each of our named executive officers is terminated other than for “cause” or by the named executive officer for “good reason”, in either case, immediately following the assumed effective time of the Merger; |

| • | No named executive officer enters into a rollover agreement; |

| • | Each named executive officer’s base salary remains unchanged from that