Company: TMCWW
Filing Date: 2025-07-18
Form Type: DEF 14A
Source: 0001104659-25-068870
Chunk: 46

Company: TMC the metals Co Inc.
Filing Date: 2025-07-18
Form: DEF 14A
Chunk 46
---
 to the 2021 Incentive Equity Plan, as to some or all outstanding options and awards: • provide that all outstanding options will be assumed or substituted by the successor corporation; 28 TABLE OF CONTENTS • upon written notice to a participant, provide that the participant’s unexercised options must be exercised within a specified number of days of the date of such notice, at the end of which period such unexercised options will terminate; • in the event of a merger pursuant to which holders of common shares will receive a cash payment for each share surrendered in the merger, make or provide for a cash payment to option holder participants equal to the difference between the merger price times the number of common shares subject to such outstanding options, and the aggregate exercise price of all such outstanding options, in exchange for the termination of such options; • with respect to other stock awards, provide that outstanding awards will be assumed or substituted by the successor corporation; • with respect to stock awards, and in lieu of any of the foregoing, provide that, upon consummation of the transaction, each outstanding stock award will be terminated in exchange for payment of an amount equal to the consideration payable upon consummation of such transaction to a holder of the number of common shares comprising such award (to the extent such stock grant or award is no longer subject to any forfeiture or repurchase rights then in effect or, at the discretion of the board of directors or an authorized committee, all forfeiture and repurchase rights being waived upon such transaction); and • upon consummation of a Corporate Transaction, to the extent not assumed or substituted by the successor or cashed out, the outstanding awards will terminate. Amendment and Termination The 2021 Incentive Equity Plan may be amended by our shareholders. It may also be amended by the board of directors or the compensation committee, provided that any amendment which is of a scope that requires shareholder approval as required by (i) the rules of Nasdaq or (ii) for any other reason, is subject to obtaining such shareholder approval. However, no such action may adversely affect any rights under any outstanding award without the holder’s consent unless such amendment is required by applicable law or necessary to preserve the economic value of such award. Duration of Plan The 2021 Incentive Equity Plan will expire by its terms in April 2031. Tax Considerations The tax consequences of participating in the 2021 Incentive Equity Plan vary depending on the award recipient’s tax jurisdiction. U.S. federal income tax considerations are