Company: IPGP
Filing Date: 2025-04-07
Form Type: DEF 14A
Source: 0001111928-25-000054
Chunk: 71

Company: IPG PHOTONICS CORP
Filing Date: 2025-04-07
Form: DEF 14A
Chunk 71
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 terminate all or a portion of any outstanding awards upon a Change in Control, after giving notice to each affected participant. In such case, each affected participant would receive an amount equal to the value of such award on the date of the Change in Control or, with respect to each share of stock subject to a stock option or stock appreciation right, an amount equal to the excess of the fair market value of such share immediately prior to the occurrence of the Change in Control over the exercise price per share of such stock option or stock appreciation right. Such amounts would be payable in cash, other property or a combination thereof, in the Committee’s discretion.

58 NOTICE OF 2025 ANNUAL MEETING AND PROXY STATEMENT

Proposal 3: Approval of the 2025 Incentive Compensation Plan

The Committee may also provide that awards under the 2025 Plan may be assumed by any entity acquiring the Company or substituted for similar awards under an acquiring entity’s compensation plans. Under the 2025 Plan, in the event a successor entity does not assume outstanding awards or replace outstanding awards with economically equivalent awards as of the date of the Change in Control and provide for subsequent payout in accordance with the same (or a more favorable) vesting schedule, (i) all outstanding stock options and stock appreciation rights will become immediately vested and exercisable; (ii) all restrictions on restricted stock and stock unit awards will immediately lapse; (iii) all performance goals other than with respect to performance-based cash awards will be deemed achieved at target levels and all other terms and conditions met; (iv) all performance-based cash awards will be paid out at target levels (or earned levels, if greater) and all other terms and conditions deemed met; and (v) all performance shares will be deemed vested, and all cash awards, performance units and stock units will be paid out as promptly as practicable.

#### Termination of Service
Death or Disability. Unless the terms of an award agreement expressly provide otherwise, if a participant's service with the Company due to death, all non-vested awards will immediately vest on the date of death. In addition, unless the terms of an award agreement expressly provide otherwise, if a participant's service terminates due to death or Disability, all vested portions of stock options and stock appreciation rights remain exercisable until the earlier of the 12-month period following the participant’s death or Disability or the date the stock option or stock appreciation right would otherwise expire.

Cause. Unless the terms of an award agreement expressly provide