Company: CRAI
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001104659-25-039429
Chunk: 44

Company: CRA INTERNATIONAL, INC.
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 44
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, prior to those agreements, the applicable award agreement. A change in control may also trigger payments to our executive officers under our cash incentive plan. Our executive officers are also subject to certain confidentiality, non-competition and non-solicitation agreements. 401(k) savings plan Under our 401(k) savings plan, a tax-qualified retirement savings plan, participating employees, including our executive officers, may contribute up to 80% of regular and bonus earnings on a before-tax basis, up to the applicable calendar year limit, which was $23,000 in calendar year 2024, into their 401(k) plan accounts. Participants aged 50 and over may also make catch-up contributions of up to $7,500 for calendar year 2024. In addition, under the 401(k) plan, we match an amount equal to fifty cents for each dollar contributed by participating employees on the first 6% of their regular and bonus earnings up to a maximum amount. This maximum matching amount was $10,350 in calendar year 2024. Amounts held in 401(k) plan accounts on behalf of an employee may not be withdrawn prior to the employee’s termination of employment with us, total and permanent disability, or such earlier time as the employee reaches the age of 59 1 ∕ 2 , subject to certain exceptions set forth in the regulations of the Internal Revenue Service. We maintain our 401(k) plan because we wish to encourage our employees to save some percentage of their cash compensation for their retirement. Our 401(k) plan permits employees to make such savings in a manner that is relatively tax efficient. Policy on deductibility of compensation In general, Section 162(m) of the Internal Revenue Code prevents us from deducting compensation paid in excess of $1 million to certain of our executive officers, called our “covered officers,” in any fiscal year. In fiscal 2024, our covered officers were our president and chief executive officer, Mr. Maleh, our former executive vice president, chief financial officer and treasurer, Mr. Mahoney, our executive vice president, chief corporate development officer and interim chief financial officer and treasurer, Mr. Holmes, and our executive vice president and general counsel, Mr. Yellin. Once a person becomes a covered person, he or she stays a covered person for all subsequent fiscal years, even if not employed by us. We do not make compensation decisions based on the tax treatment of any particular form of compensation. Compensation committee report The compensation committee has reviewed and