Company: FFWM
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001104659-25-036041
Chunk: 94

Company: First Foundation Inc.
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 94
---
 two year period. “Good Reason” generally means the occurrence of any of the following actions taken by us with respect to the NEO and without his or her consent: • The scope of NEO’s authority or responsibilities is significantly reduced or diminished or there is a change in his or her position or title as an officer of the Company or subsidiary, or both, that constitutes or would generally be considered to constitute a demotion; • a reduction in base salary, unless such reduction is made as part of an across-the-board cost-cutting measure that is applied equally or proportionately to all senior executives; • a significant reduction or discontinuation in the NEO’s bonus and/or incentive compensation award opportunity unless it is applied equally or proportionately to all senior executives participating in the incentive plan or program; • a significant reduction or discontinuation in the NEO’s participation in any other benefit plan subject to certain exceptions; • a relocation of the NEO’s principal place of employment to an office (other than our headquarters offices) located more than thirty (30) miles from his or her then principal place of employment; or • a breach of our material obligations to the NEO under either the employment agreement or CC Agreement which breach continues uncured for a period of thirty (30) days following written notice from the NEO. In order to resign his or her employment for Good Reason under the CC Agreement, the NEO must provide the Company with written notice within 90 days of the Good Reason Event, and if the Company does not cure within 30 days, the NEO must give written notice of termination for Good Reason within 45 days of the end of the cure period. Potential Payments upon Termination or Change in Control The following table sets forth the potential payments that would have been payable to our NEOs upon a termination of employment in certain circumstances, including in connection with a Change in Control (“CIC”). The actual amounts payable can only be determined when an executive is terminated and can be more or less than the amounts shown below, depending on the facts and circumstances actually prevailing at the time of the executive’s termination of employment. The payments calculated below are based on the executive’s salary as of December 31, 2024, and assume a qualifying termination on December 31, 2024. 61

TABLE OF CONTENTS

| ​                                                         
 Thomas C. Shafer                                          | ​ 
 ​ | ​ 
 ​ | Base Salary 
 ​           | ​ |         ​ | ​ | ​ 
 ​ | ​ 
 ​ | Bonus 
 ​     | ​ |       ​ |