Company: TH
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0001104659-25-032818
Chunk: 52

Company: Target Hospitality Corp.
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 52
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 prorated bonus based on actual Company performance; (iii) a payment equal to the costs that would be incurred by him for continued health insurance coverage for 18 months; and (iv) vesting of any unvested time-based equity awards. HEIDI D. LEWIS, EXECUTIVE VICE PRESIDENT, GENERAL COUNSEL AND SECRETARY On February 29, 2024, Target entered into an amended and restated employment agreement with Heidi D. Lewis, providing, among other things, (i) an initial term through December 31, 2027, with automatic successive one-year extensions after the end of the initial term, unless either party provides a non-renewal notice to the other party at least 120 days before the expiration of the initial term or the renewal term, as applicable, (ii) an annual base salary of $375,000, subject to increases approved by the board, which she may elect to receive in whole in the form of RSUs under the Incentive Plan, (iii) an annual target cash bonus performance target of 75% of her annual salary and (iv) an annual long-term incentive opportunity with a target grant value of $350,000, but the actual value of any grant may be higher or lower based on Committee discretion. If Ms. Lewis’s employment with the Company is terminated other than for Cause or with Good Reason (as each such term is defined in her employment agreement), she will be entitled to receive: (i) 100% of the sum of her annual base salary and target annual bonus for the year of termination; (ii) a prorated bonus based on actual Company performance; (iii) a payment equal to the costs that would be incurred for continued health insurance coverage for 12 months; and (iv) any unvested awards granted to Ms. Lewis under the Incentive Plan will continue to vest during the severance in accordance with their terms. In the event of a Change in Control (as defined in the Incentive Plan), if Ms. Lewis’s employment with the Company is terminated other than for Cause or by Ms. Lewis with Good Reason within 12 months following such Change in Control (or if Ms. Lewis’s employment with the Company is terminated other than for Cause or as a result of disability prior to a Change in Control at the request of a third party or otherwise in anticipation of a Change in Control), she will be entitled to receive: (i) 200% of the sum of