Company: NPWR-WT
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001140361-25-015450
Chunk: 24

Company: NET Power Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 24
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 an amount equal to the product of (x) 12 and (y) the monthly premium amount for the eligible executive’s group health plan coverage (including coverage for the eligible executive’s eligible dependents) under Net Power’s group health plans as in effect immediately prior to the eligible executive’s date of termination (the “Group Health Plan Amount”). Upon the termination of an eligible executive’s employment due to a Qualifying Termination that occurs during a Change of Control Protection Period, and so long as such eligible executive satisfies the conditions to payment described below, such eligible executive will be entitled to receive a cash severance payment equal to the sum of the following amounts, payable in a lump sum within 30 days after satisfaction of the Release Requirement: (i) an amount equal to the product of (A) 1.5 and (B) the Base Cash Severance Amount, (ii) the Pro-Rata Bonus Amount, and (iii) an amount equal to the product of (x) 1.5 and (y) the Group Health Plan Amount. Severance payments under the Executive Severance Plan to an Eligible Executive are conditioned on the eligible executive’s execution and non-revocation of a general release of claims (the “Release Requirement”) and the eligible executive’s continued compliance with the terms of the Executive Severance Plan, including the restrictive covenant obligations under the Executive Severance Plan. The Executive Severance Plan supersedes all prior agreements, practices, policies, procedures and plans relating to severance benefits, including but not limited to the Allen Employment Agreement and the Patel Employment Agreement. The definitions applicable to the Executive Severance Plan are included below. “Change in Control Period” means the period beginning three months prior to a Change in Control (as defined in the Omnibus Plan) and ending on the second anniversary of such Change in Control. “Good Reason” means, with respect to an eligible executive, the occurrence, subject to certain notice and cure rights, of any of the following without the eligible executive’s written consent: (i) a greater than 20% reduction in base salary or annual target bonus, other than a general reduction that affects all similarly situated executives or service providers in substantially the same proportions; (ii) a relocation of such eligible executive’s principal place of employment by more than 50 miles; (iii) any material breach by the Company of any material provision of the Executive Severance Plan; or (iv) a material and adverse change in such eligible executive’s authority, duties or responsibilities (other than