Company: ADAMM
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001273685-25-000038
Chunk: 99

Company: ADAMAS TRUST, INC.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 99
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 to such Bonus Plan or as determined by the Compensation Committee, as applicable, and subject to ratification by the Board of Directors, if required. Additionally, Mr. Mah and Ms. Nario-Eng are eligible to participate in our 2017 Stock Plan to receive annual long-term incentive awards with respect to shares of our common stock. The Compensation Committee will approve any such awards made to Mr. Mah or Ms. Nario-Eng pursuant to the 2017 Stock Plan and each award will be governed by the terms and conditions of the 2017 Stock Plan and the applicable award agreement.

If we terminate Mr. Mah’s or Ms. Nario-Eng’s employment without Cause or due to Non-Renewal or if Mr. Mah or Ms. Nario-Eng terminate their respective employment with us for Good Reason (as each such term is defined under the caption "— Certain Compensation Arrangements Definitions" below), Mr. Mah or Ms. Nario-Eng, as applicable, would be entitled to the following (subject to satisfaction of the release requirements set forth in their applicable employment agreement): (a) an amount equal to the product of (i) one and one-half, in the case of Mr. Mah, or one, in the case of Ms. Nario-Eng, multiplied by (ii) the sum of (A) the applicable individual’s annual base salary at the time of such termination, plus (B) the average annual incentive bonus earned by the applicable individual during the two most recently completed fiscal years prior to the year in which the termination occurs, such payments to be paid in lump sum; (b) COBRA reimbursements (or substitute payments) for the applicable individual and their eligible dependents for up to 18 months; and (c) acceleration of any outstanding unvested equity awards; provided, however, that with respect to each award that is subject to a performance-based vesting condition, the extent to which such award shall vest and become earned shall remain subject to the applicable performance metrics calculated through the end of the applicable performance period.

If Mr. Mah’s or Ms. Nario-Eng’s employment is terminated due to their death, each of their designated beneficiaries would be entitled (subject to satisfaction of the release requirements set forth in their applicable employment agreement) to the following: (a) an amount equal to the sum of the applicable individual’s (i) annual base salary for the year in which the termination took place and (ii) their target bonus for the year in