Company: ACTG
Filing Date: 2025-03-28
Form Type: PRE 14A
Source: 0000934549-25-000010
Chunk: 53

Company: ACACIA RESEARCH CORP
Filing Date: 2025-03-28
Form: PRE 14A
Chunk 53
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Us will be earned and (e) at the maximum level or above, 200% of the target PSUs will be earned.  Such number of PSUs that are earned and eligible to vest will become vested on the third anniversary of the grant date subject to the executive’s continued employment through such date. |

#### Employment Agreements
Certain of our named executive officers are party to employment agreements that entitle them to certain elements of compensation and govern the terms of their employment with the Company, as described in more detail below. Pursuant to their employment agreements, the applicable named executive officers are eligible to participate in the employee benefits programs we provide to all of our employees, including medical, dental, vision, life, and disability insurance, to the same extent made available to other employees, subject to applicable law. There are no additional benefits or perquisites applicable exclusively to any of the named executive officers.

Pursuant to the employment agreements, the applicable named executive officer is subject to perpetual confidentiality restrictions and non-disparagement provisions, and non-solicitation restrictions with respect to the Company’s employees and customers and non-competition restrictions, in each case, for the duration of their employment and specified times thereafter.

Mr. McNulty

Mr. McNulty was party to an employment agreement with the Company, which was amended and restated in February 2024 (the “McNulty Employment Agreement”). The McNulty Employment Agreement provides that Mr. McNulty is entitled to receive an annual salary of $500,000 and is eligible to receive an annual bonus in an amount ranging from 100-150% of his annual salary, to be determined by the Board or the Compensation Committee (all or a portion of which Mr. McNulty may elect to receive in shares of our common stock). Additionally, the McNulty Employment

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Agreement provides that Mr. McNulty is eligible to participate in the Company’s long-term incentive program, is eligible to receive a payment in connection with the vesting of PSUs that were granted to Mr. McNulty on June 7, 2023 depending upon the level of achievement of the applicable performance goals (which payment will be settled in shares of the Company’s common stock if Mr. McNulty is an employee of the Company on the date of settlement and is referred to herein as the “Potential 2023 PSU Payment”) and provides for the separation payments and benefits described below.

Mr. McNulty’s employment may be terminated by the Company or Mr. McNulty