Company: NOTV
Filing Date: 2025-01-23
Form Type: DEF 14A
Source: 0001628280-25-002250
Chunk: 37

Company: Inotiv, Inc.
Filing Date: 2025-01-23
Form: DEF 14A
Chunk 37
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 the satisfaction of one or more performance conditions shall become fully vested and exercisable at the target level of performance for such period of time prior to the effective time of the Change in Control as is deemed fair and equitable by the Committee. The Committee may elect to cancel such outstanding stock options or SARs and pay the participant an amount of cash equal to the excess of (i) the value, as determined by the Committee, of the consideration received by the holder of a common share as a result of the Change in Control over (ii) the exercise price of such options or such SARs, multiplied by the number of common shares subject to each such award; however, no payment shall be made for any stock option or SAR if its exercise price exceeds the value, as determined by the Committee, of the consideration (including cash) received by the holder of a common share as a result of the Change in Control.

Effect of Termination of Service . Unless otherwise set forth in an award agreement, if a participant’s employment or other service relationship with the Company and its subsidiaries is terminated other than due to death or disability, all unvested portions of awards held by the participant shall immediately be forfeited. All unvested portions of awards held by the

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participant on the date of death or separation from service due to disability shall vest immediately as of such date. All vested portions of awards (other than vested portions of stock options and SARs) held by the participant on the date of the participant's death or separation from service (for reasons other than cause) shall be paid in accordance with the payout schedule applicable to vested awards.

All vested portions of stock options and SARs held by a participant on the date of the participant's separation from service for reasons other than cause shall remain exercisable for three months following the date of such separation from service (but in any case not beyond the expiration of the term of the stock option or SAR), except: (a) in the case of the participant’s retirement or in the case of a separation from service due to disability, the participant may exercise all vested stock options and SARs within the period of 12 months immediately succeeding the effective date of such separation from service (but not beyond the expiration of the term of the stock option or SAR); and (b) in the case of the participant's death, the participant's beneficiary or estate may exercise vested stock options and SARs until the date which is 12 months from the date of the participant's death (but