Company: NNN
Filing Date: 2025-08-01
Form Type: 8-K
Source: 0000950170-25-101402
Chunk: 1

Company: NNN REIT, INC.
Filing Date: 2025-08-01
Form: 8-K
Item: Item 5.02
Chunk 1
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. Mr. Lewis has been designated as a participant in the Executive Severance Plan effective as of the Effective Date, with a “termination payment multiple” of one and a half and a “change of control termination payment multiple” (as such terms are defined in the Executive Severance Plan) of two.

The “termination payment multiple” applies on a termination of a participant’s employment by the Company without “cause” or by the participant for “good reason” (as such terms are defined in the Executive Severance Plan) and the “change of control termination payment multiple” applies on a termination of a participant’s employment by the Company without “cause” or by the participant for “good reason”, in each case during the period beginning on the date that is three months prior to the consummation of a “change of control” of the Company and ending on the date that is 12 months after the consummation of such “change of control” of the Company (such period, the “ Change of Control Protection Period”).

Death or Disability Severance Benefits. If a participant’s employment is terminated due to such participant’s death or disability, such participant will be eligible to receive: (a) a lump sum cash payment equal to a prorated portion of such participant’s annual bonus at the “target” level for the year of termination; (b) in the event of such participant’s death, (i) a lump sum cash payment equal to two months of such participant’s annual base salary, and (ii) one-year of continued Company-paid health coverage for participant’s spouse and dependents; (c) vesting of any unvested time-based equity awards; and (d) vesting of any unvested performance-based equity awards at the “target” level of performance.