Company: JACK
Filing Date: 2025-01-27
Form Type: DEF 14A
Source: 0000807882-25-000004
Chunk: 66

Company: JACK IN THE BOX INC
Filing Date: 2025-01-27
Form: DEF 14A
Chunk 66
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 event of an involuntary termination other than for cause (which includes acting deliberately and in bad faith or committing fraud) and other than upon death, disability or voluntary resignation, and in any case that does not occur during the twenty-four months following a CIC (a Non-CIC Qualifying Termination). The Executive Severance Plan provides the benefits below, expressly contingent on the executive timely executing an effective general release of claims against the Company. Messrs. Scott and Gordon ceased to be eligible for benefits under the Severance Plan upon their separation of employment with the Company.

| Severance Payment        |     | Lump sum cash payment equivalent to 2.0x Base Salary for the CEO and 1.0x Base Salary for executive officers.                                                                                                                                                                                                                                             |
| COBRA Benefits           |     | To the extent an NEO or executive officer elects COBRA benefits, a lump sum cash payment equivalent to the aggregate amount of the executive’s monthly COBRA premium payment in excess of the monthly premium the executive would pay as an active employee of the Company.  Payment equal to 24 months for the CEO and 12 months for executive officers. |
| Annual Incentive Payment |     | A prorated annual incentive payment for the year in which the termination occurs, based on actual achievement of performance goals under the Company's Performance Incentive Program for the fiscal year.                                                                                                                                                 |
| Equity Awards            |     | Subject to the terms and provisions under the stock plan and award agreements.                                                                                                                                                                                                                                                                            |

Compensation & Benefits Assurance Agreements (CIC Agreements). The Company provides CIC Agreements for our executive officers because it considers it to be in the best interest of our shareholders to encourage continued employment of key management in the event of a CIC transaction. These agreements help facilitate successful performance by key executives during an impending CIC, by protecting them against the loss of their positions following a change in the ownership or control of the Company and ensuring that his or her expectations for long-term incentive compensation arrangements will be fulfilled. Generally, under the agreements, a Company CIC is defined to include:

| (i) |     | the acquisition by any person or group of 50% or more of the outstanding stock or combined voting power of the Company (excluding acquisitions by the fiduciary of the Company benefit plans or certain affiliates); |

| (ii) |     | circumstances in which individuals constituting our board of directors generally cease to constitute a majority of the board; and |

| (iii) |