Company: AWK
Filing Date: 2025-12-17
Form Type: S-4
Source: 0001193125-25-321389
Chunk: 166

Company: American Water Works Company, Inc.
Filing Date: 2025-12-17
Form: S-4
Chunk 166
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 for Mr. Franklin, the bonus shall in all cases be determined based on the target bonus opportunity). The executive officer is also entitled to receive a pro-ratashare of the executive officer’s target annual cash incentive compensation based on the portion of the calendar year that has elapsed at the time of the executive officer’s termination, a lump sum payment in lieu of the continuation of certain health benefits for a specified period of years, outplacement services, and accelerated vesting of unvested equity awards. The table below shows the applicable multiple and continuation period for each Essential executive officer. Mr. Rhodes is not included in the table below as he is no longer an executive officer of Essential and therefore is no longer entitled to any such benefits in connection with the merger. Essential and American Water have agreed that, in connection with the merger, Mr. Luning will have “good reason” to terminate employment.

| Name     |     | Multiple of Base 
     Compensation |     | Years of Health 
         Benefit 
    Continuation 
          Period |     | Outplacement 
 Services     |
| Franklin |     |                3 |     |               3 |     | 36 Months    |
| Schuller |     |                2 |     |               2 |     | 6 Months     |
| Luning   |     |                2 |     |               2 |     | 6 Months     |
| Arnold   |     |                2 |     |               2 |     | 6 Months     |
| Huwar    |     |                2 |     |               2 |     | 6 Months     |
| Palmer   |     |                1 |     |               1 |     | 6 Months     |

See “ Quantification of Potential Payments and Benefits to Essential’s Named Executive Officers in Connection with the Merger” beginning on page 109 for the estimated cash severance amounts that each of Essential’s named executive officers would receive under their change in control or employment agreement upon a qualifying termination. Based on the assumptions described above under “ —Certain Assumptions,” the estimated aggregate amount of the cash severance payments that Essential’s executive officer who is not a named executive officer would receive under such executive’s change in control agreement upon a qualifying termination is $387,771, and the amounts of the health benefit continuation and outplacement services that Essential’s executive officer who is not a named executive officer would receive under such executive’s change in control agreement upon a qualifying termination are $33,