Company: VRT
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001193125-25-094674
Chunk: 58

Company: Vertiv Holdings Co
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 58
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 Plan (“ CIC Plan”) provides “double-trigger” severance benefits to senior employees, including the named executive officers, upon specified terminations of employment from Vertiv in connection with a change of control of Vertiv (as defined in the CIC Plan). In the event of a change of control, the executive must also either (i) be involuntarily terminated other than for cause (as defined in the CIC Plan) or (ii) initiate the termination of his or her own employment for good reason (as defined in the CIC Plan). Additionally, either qualifying termination event must occur during the period that starts 90 days immediately prior to the change of control and ends 24 months following such change of control (“ Change of Control Period”). If such termination occurs during the Change of Control Period, the executive would be entitled to:

| (i) | lump-sum cash payments equal to a multiplier of two (or, in the case of the CEO at the time of a change in control, three) times the sum of (x) then current base salary and (y) annual target bonus; |

| (ii) | a lump-sum cash payment equal to the executive’s annual target bonus during the fiscal year of termination, pro-rated based on the number of days worked by the executive during such fiscal year; |

| (iii) | a lump-sum cash payment equal to the executive’s actual bonus accrued in the fiscal year prior to the year of termination, but not yet paid; |

| (iv) | full vesting on an accelerated basis of any of the executive’s unvested long-term incentive awards; and |

| (v) | COBRA continuation coverage for 18 months. |

With respect to the Strategic Performance Awards, in the event of the foregoing qualifying termination, or if the awards are not assumed or replaced by the acquiror, (i) the earned portion of any Strategic Performance Award for completed years and (ii) the target amount of any Strategic Performance Award for incomplete years, will immediately vest. The CIC Plan does not provide executives with an excise tax gross-up. Instead,to the extent that the payment and benefits to be provided under the CIC Plan or other Company plan or agreement would be subject to the excise tax imposed under Section 4999 of the Internal Revenue Code on excess parachute payments within the meaning of Section 280G of the Internal Revenue Code, the payments will be reduced to the extent necessary so that no portion will be subject to the excise tax if, with