Company: ST
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001477294-25-000059
Chunk: 48

Company: Sensata Technologies Holding plc
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 48
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5 PROXY STATEMENT - PAGE 49 |

Termination without cause or resignation for good reason

Pursuant to the terms of the Severance and Change in Control Plan, if any of our current NEOs is terminated by the Company without "cause" (other than as a result of death or Disability) or resigns from the Company for "good reason" (as those terms are defined in the Severance and Change in Control Plan or the respective employment agreement), the NEO will be entitled to (i) a lump sum cash payment equal to base salary for 24 months for the CEO and 12 months for the other NEOs, (ii) a lump sum equal to 200% for the CEO and 100% for the other NEOs of the average annual bonus for the NEO for the two years preceding their termination, and (iii) continued participation in their health and dental benefit plans (24 months for the CEO and 12 months for the other NEOs).

Mr. Cote's employment agreement included severance provisions of (i) a severance payment equal to two years of his then current base salary, (ii) an amount equal to the sum of the annual incentive bonus payments received in the two years preceding his termination, and (iii) continuation of his health and welfare benefits to run concurrent with his COBRA period.

Mr. Roberts is not a participant of the Severance and Change in Control Plan, and therefore, upon termination without "cause" (other than as a result of death or disability) or resigns from the Company for "good reason", he will be entitled to (i) base salary through the date of termination, (ii) any annual bonus amounts to which he is entitled for years that ended on or prior to the date of termination, (iii) an amount equal to one year of Mr. Roberts' then current Base Salary plus an amount equal to the average of the annual bonuses paid to Mr. Roberts for the two completed fiscal years immediately preceding the date of the termination of employment, and (iv) continuation of his health and welfare benefits to run concurrent with his COBRA period.

Pursuant to our award agreements under the 2021 Equity Incentive Plan and any preceding plan, if any of our current NEOs are terminated by us without "cause" (as that term is defined in the respective award agreement), the NEO will be entitled to (i) unvested PRSUs that otherwise would have vested within six months (or twelve in the case of