Company: USPH
Filing Date: 2025-03-28
Form Type: 8-K
Source: 0001140361-25-010807
Chunk: 2

Company: U S PHYSICAL THERAPY INC /NV
Filing Date: 2025-03-28
Form: 8-K
Item: Item 5.02
Chunk 2
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 have an opportunity to receive either a “ Cash Bonus” Award or RSAs having a value at the time of the Award of up to 100%
of the CEO’s annual base salary for 2025 and up to 75% of the annual base salary for 2025 for the President, COO West, CFO and EVP as Performance Awards under the 2003 Plan. The Committee will, in its sole discretion, determine the amount and
type of award to be made in the first quarter of 2026. No Executive will be entitled to any type of award or have a legally binding right to an award until the Committee, in its sole discretion, determines an award will be made, the amount and
the type of award to be made. No Executive will be entitled to elect between the Cash Bonus and RSA. Before any Cash Bonus is made or an RSA is awarded under this Objective Bonus Plan, the Committee shall certify in writing that the performance
goals (which in this case is the achievement of certain level of Adjusted EBITDA) have been obtained. Any Cash Bonus award made hereunder shall be paid in a lump-sum amount, and any RSA granted, in each case no later than March 15, 2026. The
Executive must be continuously employed by USPH or its affiliates from the Effective Date through December 31, 2025 to receive the Cash Bonus or an RSA.

Discretionary Cash/RSA Bonus Plan for Senior Management for 2025 ("Discretionary Bonus
Plan"); In addition to awards under any other plan or program at USPH for which such Executives are eligible and not in lieu thereof, each Participant in this Discretionary Bonus Plan has the potential
to be awarded of up to 50% of the Participant's annual base salary for 2025 (“ Subjective Bonus”) subject to the achievement of individual goals established by the Committee. The Subjective Bonus shall be made as either a Cash Bonus Award or RSAs,
as determined in the sole discretion of the Committee. The Committee shall have the sole discretion to determine the amount and type of award (whether a Cash Bonus Award or an RSA) will be made. No Participant shall be entitled to a Subjective
Bonus and shall have no legally binding right to a Subjective Bonus until the Committee determines the amount and type of award to be made. No Participant will be entitled to elect any type of award to be made.

The foregoing descriptions are qualified in its entirety by reference to the full text of each