Company: LEU
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001104659-25-039220
Chunk: 49

Company: CENTRUS ENERGY CORP
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 49
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2024 Annual Awards.” (2) Based on fair value price per share of $38.67 in 2024 for the recipients. 40

TABLE OF CONTENTS

CEO Employment Agreement In connection Mr. Vexler’s appointment as our CEO, the Company and Mr. Vexler entered into an employment agreement, effective November 16, 2023. The employment agreement provides Mr. Vexler with an initial base salary of $810,000 per year which will be reviewed annually by the CN&G Committee. Mr. Vexler also received a monthly commuting stipend of $1,500 for twelve months. Mr. Vexler was granted an award of 20,000 restricted stock units. The award vests in five equal annual installments beginning on December 4, 2024, subject to his continued employment given that the condition relating to his obtaining Department of Energy Q security clearance was satisfied. Mr. Vexler participates in the Company’s EIP, with an annual target bonus equal to 100% of his base salary, which may be as much as 125% or as little as 0% of his base salary, based on attainment of certain Company goals. The Company may elect to pay up to 10% of any annual bonus awarded to Mr. Vexler in fully vested shares of our Class A common stock. Mr. Vexler is also eligible to receive a long-term incentive award with a target award of 33% of his base salary, in accordance with the terms and conditions of the EIP. Mr. Vexler’s employment agreement continues until terminated by either party, including the right of the Company to terminate Mr. Vexler without cause, as defined in the employment agreement, upon the payment in cash of severance in the amount of Mr. Vexler’s base salary plus target bonus in effect immediately preceding the date of termination of his employment (the “Severance Payment”). The Company also agreed to pay for his continued coverage under the Company’s group medical, dental, and vision insurance plans for 12 months, or until he is no longer eligible for COBRA or becomes eligible for coverage from another employer. The Severance Payment is also due to Mr. Vexler if he terminates the employment agreement for good reason, as defined in the employment agreement. Mr. Vexler may terminate the employment agreement for any reason upon 30 days’ notice and the Company may terminate the employment agreement for cause or upon Mr. Vexler