Company: CLH
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0000822818-25-000011
Chunk: 28

Company: CLEAN HARBORS INC
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 28
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 of compensation program designs, practices, and amounts awarded to the Company’s executive officers. In connection with management compensation for the 2024 fiscal year, the C&HC Committee engaged and received advice from Meridian Compensation Partners, an independent compensation consulting firm specializing in development and implementation of executive compensation systems, to perform market surveys (including, in particular, preparing an updated list of peer group companies) and prepare reports on compensation for executive officers for the fiscal year ended December 31, 2024 and potentially future years.

• The C&HC Committee has established an executive compensation program that attracts and retains talented executives and aligns executive performance with the creation of shareholder value.

• All equity incentives and substantially all cash bonuses granted to the Company’s executive officers and other senior management for the past ten years have been made exclusively in accordance with the terms of plans approved by the Company’s shareholders.

• The C&HC Committee believes in pay-for-performance. Cash bonuses and a majority of long-term equity incentives are linked directly to key performance metrics. Performance-based restricted shares awarded to the Named Executive Officers are earned and become eligible to vest only if performance is achieved and such shares will not become vested simply with the passage of time.

• The C&HC Committee's actions reflect its pay-for-performance philosophy. In March 2025, in light of the Company’s performance in 2024, the C&HC Committee awarded Company-wide performance based cash bonuses for 2024 equal to 74% of the maximum total potential cash bonus target opportunity for the Co-CEOs and CTO and 77% of the total maximum potential cash bonus target opportunity for the other Named Executive Officers, as described below, under the Company’s cash incentive plan. Additionally, 50% of the performance shares which the C&HC Committee awarded to the Named Executive Officers in 2024 and 29% of the performance shares which the C&HC Committee awarded to the Named Executive Officers in 2023 were earned in 2024, as the 2024 performance met certain of the performance criteria set forth for those awards..

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• A substantial portion of the Named Executive Officers’ total compensation is provided through restricted shares, creating a strong correlation between their compensation and shareholder return.

• Other than the Key Employee Retention Plan and related severance agreements referenced below, the Company has not entered into term employment agreements with its Named Executive Officers.

• Tax gross-ups are not provided to any executive officers.

• Alan S. McKim, who served