Company: NPWR-WT
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001140361-25-015450
Chunk: 23

Company: NET Power Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 23
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 A Common Stock on April 2, 2027, as compared to the VWAP of a share of Class A common stock on April 2, 2024, is less than 10%. Additional Narrative Disclosure Retirement Benefits We do not have a defined benefit pension plan or nonqualified deferred compensation plan. We currently maintain a retirement plan intended to provide benefits under Section 401(k) of the Internal Revenue Code of 1986, as amended, pursuant to which employees, including the NEOs, can make voluntary pre-tax contributions. We contribute 3% of base salary for all eligible employees up to the IRS maximum permitted. These contributions are immediately vested. All contributions under the plan are subject to certain annual dollar limitations, which are periodically adjusted for changes in the cost of living. Life Insurance For the fiscal year ended December 31, 2024, Net Power provided enhanced life insurance benefits to Messrs. Allen and Patel for which Net Power paid $660 and $720, respectively. Disability Insurance For the fiscal year ended December 31, 2024, Net Power provided additional disability insurance benefits to Messrs. Allen and Patel for which Net Power paid $1,150 and $923, respectively. 23

Potential Payments Upon Termination or Change of Control Amended and Restated Executive Severance Plan On March 7, 2024, the Board adopted the NET Power Inc. Amended and Restated Severance Plan (the “Executive Severance Plan”). The Executive Severance Plan provides severance payments to eligible officers and management employees who are designated as Eligible Executives, including Messrs. Allen and Patel, and whose employment is terminated on or after March 7, 2024. Upon the termination of an eligible executive’s employment due to a Qualifying Termination (as defined below) that occurs outside of a Change in Control Protection Period (as defined below), and so long as the eligible executive satisfies the conditions to payment described below, the eligible executive will be entitled to receive a cash severance payment equal to the sum of the following amounts, payable in a lump sum generally within 30 days after satisfaction of the Release Requirement (as defined below): (i) an amount equal to the sum of the eligible executive’s (A) base salary and (B) average annual bonus paid in respect of the preceding two years (the “Base Cash Severance Amount”), (ii) a pro-rated portion of the eligible executive’s target annual bonus (the “Pro-Rata Bonus Amount”), and (iii)