Company: TWO-PC
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001465740-25-000090
Chunk: 52

Company: TWO HARBORS INVESTMENT CORP.
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 52
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 their beneficiary) other than pursuant our 2021 Plan and the equity award agreements governing grants thereunder. If there is a termination of service as a result of the executive officer’s death:

• Under the 2021 Plan, all outstanding RSUs that have not vested will fully vest as of the date of such executive officer’s death; and

• Under the 2021 Plan, the executive officer will fully vest on the date of such officer’s death in a number of PSUs equal to the amount of the target award for the applicable performance period, without regard to the achievement of any applicable performance goals.

#### Disability
In the event of a named executive officer ’ s disability, we would not be obligated to pay or provide any additional payments or benefits to the executive officer unless they meet the definition of “disability” as set forth under our 2021 Plan and the equity award agreements governing grants thereunder. “Disability” is generally defined as the occurrence of an event which would entitle the grantee to the payment of disability income under an approved long-term disability income plan or a long-term disability plan of the company or a participating company as determined by the Compensation Committee in its absolute discretion or pursuant to any other standard as may be adopted by the Committee. If the definition of disability is met, then on the executive’s termination date due to disability:

• Under the 2021 Plan, all outstanding RSUs that have not vested will fully vest as of the date of such executive officer’s termination; and

• Under the 2021 Plan, the executive officer will fully vest on the date of such officer’s termination in a

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number of PSUs equal to the amount of the target award for the applicable performance period, without regard to the achievement of any applicable performance goals.

#### Involuntary Termination without Cause
In the event a named executive officer (other than Mr. Dellal) is terminated by the company for any reason other than “cause,” the executive officer is entitled to receive certain cash payments under our Severance Benefits Plan and accelerated vesting of equity awards granted under our 2021 Plan. In the event that Mr. Dellal is terminated by the company for any reason other than "cause" prior to August 1, 2025, Mr. Dellal would be entitled to a payment of $286,885 per the terms of his appointment as Vice President and Interim Chief Financial Officer in August, 2024.

Under our Severance Benefits Plan