Company: IR
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001628280-25-037049
Chunk: 120

Company: Ingersoll Rand Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part II, Item 5
Chunk 120
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 year prior to the year of termination, (iii) a pro-rata bonus for the year in which termination occurs, measured based on actual achievement, and (iv) a payment equal to the aggregate amount of the employer portion of premiums for continued group health plan coverage on a tax grossed-up basis for the length of the 12 month period. If any NEO experiences a qualifying termination during the period beginning six months before and ending two years after a change in control of the Company, the participant is eligible to receive (i) a lump sum payment equal to the product of the participant’s monthly base salary multiplied by 18 months, (ii) any earned but unpaid bonus for the fiscal year prior to the year of termination, (iii) a pro-rata target annual bonus for the year in which termination occurs, and (iv) a payment equal to the aggregate amount of the employer portion of premiums for continued group health plan coverage on a tax grossed-up basis for the length of the 18 month period. 

Participants are required to execute a general release of claims as a condition to receiving severance payments and benefits under the Plan and to comply with any non-competition or other restrictive covenant agreements with the Company. 

The above description does not purport to be complete and is qualified in its entirety by reference to the Executive Change in Control & Severance Plan which is filed as Exhibit 10.1 hereto and is incorporated herein by reference.

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