Company: LGN
Filing Date: 2025-02-14
Form Type: DRS
Source: 0000950123-25-002471
Chunk: 173

Company: Legence Corp.
Filing Date: 2025-02-14
Form: DRS
Chunk 173
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 and other continuing obligations in a form provided by the Company, Mr. Sprau is entitled to receive (i) 18 months of salary continuation, and (ii) up to 18 months of continued
health care coverage subsidies under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”).

Under
Mr. Sprau’s employment agreement, “Cause” generally means Mr. Sprau’s (a) substantial and material failure to perform (other than by reason of disability), or substantial and material negligence in the performance
of, his duties to the Company or any of its affiliates; (b) material breach of his employment agreement or any other agreement between Mr. Sprau and the Company or any of its affiliates; (c) commission of, or plea of nolo contendere
to, a felony or other crime involving moral turpitude; or (d) other conduct that is materially harmful to the business interests or reputation of the Company or any of its affiliates, in each case of clauses (a), (b) and (d), which failure, if
capable of being cured, remains uncured for 10 business days after receipt of written notice from the Company.

Under
Mr. Sprau’s employment agreement, “Good Reason” generally means any of the following without Mr. Sprau’s prior written consent: (x) a material reduction in his role and/or duties with the Company; (y) a
reduction in his annual base salary (unless all executives of the Company are subject to a proportionally comparable base salary decrease due to business needs) and/or target bonus opportunity; or (z) a material breach by the Company of the
employment agreement, subject to customary notice and cure provisions.

In November 2021, July 2021 and October 2021, Therma entered into
an employment agreement with each of Messrs. Butz, Barnes and Seki, respectively. Each such employment agreement has an initial two-year term that automatically renews in
one-year increments unless either party provides written notice of nonrenewal not less than 60 days prior to the expiration of the then-current term, or unless otherwise terminated in accordance with the terms
of the applicable employment agreement. The agreements provides Messrs. Butz, Barnes and Seki

119

Confidential Treatment Requested by Legence Corp.

Pursuant to 17 C.F.R. Section 200.83

with an annual base salary ($475,