Company: EME
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001140361-25-015031
Chunk: 67

Company: EMCOR Group, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 67
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 average of his or her annual incentive awards for the three years prior to the change of control. Other severance benefits include outplacement assistance and a continuation of healthcare coverage and life insurance benefits for three years. Each such named executive officer agreed that he or she would retain in confidence all of our confidential information. If the severance benefits provided for under the Change of Control Agreements are paid to such named executive officers and/or if, in connection with a change of control, other payments or distributions are made by us to, or for the benefit of, such named executive officers, or other benefits are conferred upon them, pursuant to the terms of any other agreement, policy, plan or program, they might constitute an “excess parachute payment” within the meaning of Section 280G of the Code, on which an excise tax would be due. In that case, under the Change of Control Agreement for Mr. Guzzi, which was signed on December 25, 2004 (and, prior to the termination of their employment, those of Messrs. Pompa and Matz, which were signed on June 22, 1998), such named executive officer would also be entitled to such additional payments as may be necessary to ensure that the net after-tax benefit of all such amounts shall be equal to his respective net after-tax benefits as if no excise tax had been imposed. Ms. Mauricio’s and Mr. Nalbandian’s Change of Control Agreements do not provide for such additional payments but instead reduce the amount payable to such named executive officer so that such benefits will not be deemed an “excess parachute payment.” As described above under “Potential Post Employment Payments — Long Term Incentive Plan” commencing on page 41, “Potential Post Employment Payments — Voluntary Deferral Plan” on page 42and “Potential Post Employment Payments — Special Equity Awards” on page 43, performance-based cash incentive awards under the LTIP and the LTIP restricted stock units, as well as the special equity awards to Ms. Mauricio and Mr. Nalbandian described above, will also vest upon, and be payable following, a change of control, and account balances under the Voluntary Deferral Plan will be payable upon a change of control.

45

Definition of Change of Control, Cause and Good Reason For purposes of the Change of Control Agreements, a “change of control” means, in general, the occurrence of:

| • | a person or group of persons acquiring 25% or more