Company: SPR
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001140361-25-015209
Chunk: 57

Company: Spirit AeroSystems Holdings, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 57
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 Mr. Shanahan is only entitled to his compensation through the date of termination. For Mr. Shanahan, a “for cause” termination is defined as a termination resulting from the following:

| • | commission of a material breach of the employment agreement, acts involving fraud, material and intentional dishonesty, material and intentional unauthorized disclosure of confidential information, a felony or other crime involving moral turpitude, or a material violation of Company policies; direct and deliberate acts constituting a material breach of the duty of loyalty; |

| • | refusal or material failure, other than by reason of disability, to perform duties and responsibilities, if such refusal or failure is not remedied within 30 days after receipt of written notice thereof from the Board; |

| • | inability to obtain and maintain the appropriate level of U.S. security clearance. |

Upon a termination by the Company without cause, or upon his resignation for good reason, Mr. Shanahan is entitled to be treated as 100% vested in all time-based LTIP awards granted on September 30, 2023. Upon a termination by the Company without cause or by Mr. Shanahan for good reason within 12 months following a “change in control,” Mr. Shanahan is entitled to one year of his base salary in effect prior to termination, payable in a single lump-sum cash payment. Pursuant to the terms of Mr. Shanahan’s employment agreement, a termination for “good reason” is defined as a termination resulting from the following, subject to a notice and cure period:

| • | a material diminution in Mr. Shanahan’s base salary, other than a general reduction that does not exceed 20% and that affects similarly situated executives in substantially the same proportions; |

| • | a material diminution in Mr. Shanahan’s title, authority, duties, reporting relationships or responsibilities; |

| • | a requirement that Mr. Shanahan report to anyone other than the Board; or |

| • | any other action or inaction with respect to the terms and conditions of Mr. Shanahan’s employment that constitutes a material breach of Mr. Shanahan’s employment agreement. |

Pursuant to the terms of Mr. Shanahan’s employment agreement, a “change in control” is defined as:

| • | a transaction pursuant to which a person, or more than one person acting as a group, acquires more than 50% of the Common Stock; or |

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| • | a merger or consolidation involving the