Company: NXNVW
Filing Date: 2025-09-22
Form Type: 8-K
Source: 0001554855-25-001716
Chunk: 2

Company: NEXTNAV INC.
Filing Date: 2025-09-22
Form: 8-K
Item: Item 5.02
Chunk 2
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 or vested through the termination date and any expense reimbursements due and owing to him that were incurred prior to the termination date (“ Accrued Compensation”). In the event of death or disability, the Company shall pay Mr. Gray or his heirs the Accrued Compensation.

In the event Mr. Gray is terminated by the Company without“ cause” during the Initial Term (other than on account of his death or“ disability” (as defined in the Employment Agreement)) or Mr. Gray resign s for“ good reason” during the Initial Term, then the Company shall provide Mr. Gray with the following benefits, contingent upon his execution of a n irrevocable general release in favor of the Company: (i) a lump sum payment, less applicable withholdings and deductions, equal to twelve (12) months of his then- current base salary; (ii) his earned but unpaid annual bonus with respect to any completed calendar year immediately preceding the termination date (such earned amount determined without regard to the requirement of him being employed on the date of payment); (iii) upon timely election, COBRA premiums for up to twelve (12) months for Mr. Gray and his covered dependents; and(iv) all of Mr. Gray’s then outstanding, unvested time-based equity awards subject solely to time-based vesting that would have become vested (but for such termination) during the twelve (12)-month period beginning on the termination date will vest as of the date immediately prior to the termination date (“ Equity Acceleration”); provided, however, if the termination without“ cause” or resignation for“ good reason” occurs prior to January 1, 2026, Mr. Gray will be entitled to 50% of his Equity Acceleration. In addition, Mr. Gray will be entitled to his Accrued Compensation.

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If Mr. Gray’s employment is terminated by the Company without“ cause”(other than on account of death or“ disability”), due to his resignation for“ good reason”, or on account of non-renewal by the Company as described above, in each case within the period beginning on the date the Company enters into a definitive agreement that if consummated would result in a“ change in control” (as defined in the Plan) and ending on the twelve (12) month anniversary of such“ change in control”, then Mr. Gray is entitled to the benefits described in the immediately preceding paragraph except that, instead of a lump sum payment equal to twelve (12) months of this