Company: EME
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001140361-25-015031
Chunk: 39

Company: EMCOR Group, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 39
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, even if such decisions lead to their departure. In addition, such agreements provide these individuals with an incentive to stay with the Company during the transition to new ownership. These change of control agreements provide for enhanced severance benefits if, within two years of the date we experience a change of control, the executive terminates his/her employment for good reason or the executive’s employment is terminated involuntarily, other than for cause, death or permanent disability. The enhanced severance benefits payable in the event of a termination of employment after a change of control are described under “Potential Post Employment Payments — Change of Control Arrangements” commencing on page 45. If severance benefits are paid to a named executive officer under a change of control agreement, no payments are to be made to him/her under his/her severance agreement. The terms and provisions of the change of control agreements reflected competitive market practices and advice provided by Mercer and outside counsel to the Company and were not derived primarily from a negotiation process with our executives. The term “change of control” as used in the change of control agreements is defined on page 46. Excise Tax Gross-Ups The severance payments and other payments and benefits our named executive officers would receive in connection with a change of control could trigger an excise tax, payable by our named executive officers. Ms. Mauricio and Mr. Nalbandian are not entitled to any gross-up payment with respect to such excise tax under the terms of their change of control agreements executed in 2016 and 2024, respectively. Mr. Guzzi’s change of control agreement, executed in 2004, before we changed our policy on such payments, provides that the Company make a gross-up payment so that he receives the same economic benefit he would have received if the excise tax were not imposed. Such gross-up payment would be provided even though we cannot deduct it from our own taxable income.

28

COMPENSATION COMMITTEE REPORT The following Compensation Committee Report does not constitute soliciting material and should not be deemed filed or incorporated by reference into any other Company filing under the Securities Act or the Exchange Act, except to the extent the Company specifically incorporates this report. The following is the report of the Compensation and Personnel Committee for the year ended December 31, 2024. We have reviewed and discussed the Compensation Discussion and Analysis contained in this Proxy Statement with EMCOR’s management. Based on the review and discussions referred to in the immediately preceding paragraph, we recommended to EMCOR’s Board of Directors that the