Company: LBTYK
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0001193125-25-076819
Chunk: 65

Company: Liberty Global Ltd.
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 65
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 for the current and preceding year, multiplied by the applicable number of months in the Severance Period (as defined below), paid equally over the course of the Severance Period; and (4) an amount equal to one-twelfth (1/12) of his average annual performance bonus award paid for the immediately preceding two calendar years (regardless of when paid), multiplied by the number of months in the Severance Period, paid over the course of the Severance Period. Mr. Fries would also receive continued payment of the expatriate benefits for the lesser of 12 months and Mr. Fries’ repatriation to the United States. In addition, any options, SARs and other non-performance-based awards will fully vest, with options and SARs remaining exercisable until the earlier of four years from Mr. Fries’ termination or the original expiration of such award, and other non-performance based awards shall be settled in accordance with the terms of the applicable award agreement. Mr. Fries and his family may elect to continue to receive coverage under our company’s group health benefits plan, subject to the terms of such plan or receive COBRA continuation of the group health benefits previously provided to Mr. Fries and his family with premiums paid or reimbursed by our company. The company has agreed to a “Severance Period” of 30 months following on the termination of Mr. Fries’ employment. Mr. Fries will also continue to earn performance-based awards that were granted as part of an annual equity award if and to the extent the performance metrics are satisfied, as certified by the compensation committee, as if Mr. Fries’ employment had not terminated.

The acceleration of Mr. Fries’ equity awards in a change in control scenario is subject to a ‘double trigger’ requirement. If Mr. Fries’ employment is terminated by the company without cause, or if Mr. Fries voluntarily terminates his employment for good reason within 13 months following a change in control of the company (as

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defined in the Fries Agreement), then Mr. Fries will be treated as if his employment was terminated without cause or for good reason, except that the Severance Period will be 36 months, and any outstanding performance-based awards will immediately vest at the greater of (1) maximum performance (not to exceed 150%) and (2) expected performance based on accruals immediately prior the change in control.

To protect the company in the event of a termination of Mr