Company: IIIV
Filing Date: 2025-01-10
Form Type: DEF 14A
Source: 0001728688-25-000006
Chunk: 45

Company: i3 Verticals, Inc.
Filing Date: 2025-01-10
Form: DEF 14A
Chunk 45
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 performance objectives, paid in a lump sum within 60 days of Mr. Whitson’s termination, and (3) twelve months of his base salary. If Mr. Whitson’s employment is terminated within six months of a Change in Control (as defined in the agreement), Mr. Whitson is entitled to a lump sum payment equal to (1) one year of his annual base salary at

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the time of the Change in Control, (2) his annual bonus for the previous year (or if higher, the highest annual bonus awarded to Mr. Whitson in the past three fiscal years), and (3) one year of benefits which he was receiving at time of the termination.

Under Mr. Whitson’s employment agreement, in the event of Mr. Whitson’s death or disability, in addition to any accrued amounts of base salary and bonuses earned but not yet paid, he would be entitled to a lump sum payment equal to 50% of his annual base salary.

Change in Control Agreement

The Company is party to a Change in Control Agreement with Mr. Maple. Pursuant to the Change in Control Agreement, in the event Mr. Maple’s employment is terminated following a change in control either without Cause or by Mr. Maple for Good Reason (each as defined in the Change in Control Agreement), then Mr. Maple will be entitled to a lump sum equal to twelve months base salary, plus Mr. Maple’s target annual bonus at the time of the change in control. Mr. Maple would also be entitled to continuation of Company provided health benefits for a period of one year following the termination of his employment.

No other named executive officers are party to change in control agreements with the Company.

Treatment of Equity Awards upon a Termination of Employment or Change of Control

In the event of a change in control of the Company and/or a termination of a named executive officer’s employment, equity awards held by named executive officers would be treated as follows:

Options

In the event of a termination of a named executive officer’s employment other than by reason of such named executive officer’s death or disability, in accordance with the applicable award agreements, any unvested options held by such named executive officer would be forfeited, and in the event such termination was without “cause,” any options that have previously vested would remain exercisable for 3 months following the termination date. If such termination was for “cause,” any vested options would expire on the date of termination. In the event of a named executive officer’s