Company: MDXG
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001376339-25-000048
Chunk: 49

Company: MIMEDX GROUP, INC.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 49
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 three years.

Ms. Whitlow’s RSU Agreement provides that her RSUs will vest over a three-year period following the grant date, one third each year of the vesting period, subject to Ms. Whitlow’s continued employment except in the case of Ms. Whitlow’s death or disability. Vesting of RSUs will accelerate upon a termination of employment without Cause or a termination of employment by Ms. Whitlow for Good Reason within two years following a Change in Control of the Company occurring prior to the end of the vesting period and while Ms. Whitlow is in continuous service.

The Company also entered into a Key Employee Retention Agreement with Ms. Whitlow, pursuant to which certain lump sum separation benefits and continuing benefits would be payable in the event (i) of a change in control of the Company and within 12 months of such event Ms. Whitlow’s employment being involuntarily terminated without Cause or being voluntary terminated by Ms. Whitlow for Good Reason, (ii) Ms. Whitlow’s employment is involuntarily terminated without Cause, or (iii) of a voluntary termination of employment by Ms. Whitlow for Good Reason. In any such event, the lump sum benefits are 1.25 times Ms. Whitlow’s base salary and target bonus for a no Cause or Good Reason termination and 1.5 times Ms. Whitlow’s base salary and target bonus for a no Cause or Good Reason termination within one year following a change in control. In addition, Ms. Whitlow would receive either benefit continuation for a period equal to the amount of the separation payment, i.e. 15 months or 18 months, or a cash payment equal to the cost of such benefit continuation.

Agreements with Ms. Maersk-Moller

In connection with her promotion, the Company entered into an Employment Offer Letter with Ms. Maersk-Moller, effective June 24, 2024, providing Ms. Maersk-Moller with the following compensation in for her service as Chief Commercial Officer:

1. a base annual salary of $540,000;

2. eligibility to participate in the Company's Management Incentive Plan with an annual target cash bonus amount equal to sixty percent (60%) of her annual base salary;

3. a grant of 125,581 RSUs representing a value equal to 150% of Ms. Maersk-Moller's annual base salary on the date of grant

4. a grant of 125,581 PSUs representing a value equal to