Company: INV
Filing Date: 2025-04-29
Form Type: PRE 14A
Source: 0001628280-25-020657
Chunk: 69

Company: Innventure, Inc.
Filing Date: 2025-04-29
Form: PRE 14A
Chunk 69
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 or by the NEO for “good reason,” the replacement

award will vest in full.

Accelsius SARs. The Accelsius SARs granted in December 2024 were fully vested upon grant and will be

automatically exercised upon the earliest to occur of: (i) the 24-month anniversary of the Date of Grant (as defined in the

applicable award agreement), (ii) the participant’s death, or (iii) the participant’s disability (as defined in the applicable

award agreement).

Treatment of Incentive Units Upon a Termination of Employment or Engagement

With respect to Innventure Incentive Units (when they were outstanding) and Accelsius Incentive Units, if an

NEO’s employment or engagement is (or was) terminated, then Innventure or Accelsius, as applicable, may repurchase (or

could have repurchased) such NEO’s vested Incentive Units for the greater of the book value or fair market value (each as

defined in the applicable award agreements pursuant to which Incentive Units were granted), except that if the termination

is (or was) voluntary on the part of the NEO or by Innventure or Accelsius, as applicable, for cause (as defined in the

applicable award agreements pursuant to which Incentive Units were granted), such vested Incentive Units may be

repurchased (or could have been repurchased) for their fair market value.

As described above, Innventure Incentive Units held by the NEOs vested (to the extent unvested) at the time of the

Business Combination and were cancelled in exchange for shares of Common Stock.

With respect to Refinity Incentive Units, if an NEO’s employment or service is terminated, then Refinity Holdings

may redeem such NEO’s vested Refinity Incentive Units for their fair market value (as defined in the applicable award

agreements pursuant to which Refinity Incentive Units are granted), except that if the termination is by Refinity Holdings

for cause (as defined in the Refinity Holdings, LLC PI Unit Incentive Plan), such vested and unvested Refinity Incentive

Units may be redeemed by Refinity Holdings for $0.

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Treatment of Accelsius Incentive Units and Refinity Incentive Units upon a Change in Control

With respect to Accelsius Incentive Units and Refinity Incentive Units if Accelsius or Refinity Holdings,

respectively, experiences a change in control (as defined