Company: LEU
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001104659-25-039220
Chunk: 43

Company: CENTRUS ENERGY CORP
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 43
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 2% of a participant’s eligible pay. The Company maintains an Executive Deferred Compensation Plan pursuant to which the Company’s executives may elect to defer 5% to 90% of the executive’s base salary, subject to the terms and conditions of the plan. During 2024, none of the Company’s named executive officers participated in the Executive Deferred Compensation Plan. Severance and Change in Control Agreements Severance Agreements A description of the Centrus Energy Corp. Executive Severance Plan that was in effect during 2024 is described below under “Potential Payments Made Upon Termination.” 34 TABLE OF CONTENTS On March 5, 2025, the Board approved certain revisions to the Centrus Energy Corp. Executive Severance Plan. Under the revised Executive Severance Plan, if a covered executive is terminated by the Company without cause, he or she is eligible to receive (a) a lump sum cash severance amount described below; and (b) medical and dental coverage for one year after termination (or until he or she receives similar coverage from a subsequent employer, whichever occurs first) and outplacement assistance services. With respect to the named executive officers, cash severance payments under the revised Executive Severance Plan upon an involuntary termination outside of a change in control consist of one times the executive’s base salary and, at the discretion of the CEO and CN&G Committee, a pro rata performance bonus. Mr. Vexler does not participate in the Executive Severance Plan because his employment agreement includes severance provisions, as described under the “Executive Compensation — CEO Employment Agreement” below. Change in Control Agreements The Company has entered into change in control agreements with each of its named executive officers. The change in control agreements provide each executive with the following benefits (in lieu of any severance benefits under the Executive Severance Plan previously described) if there is a change in control of the Company and within a protected period beginning three months before and ending three years after that change in control (the “protected period”), the Company terminates the executive’s employment without cause or the executive terminates his or her employment for “good reason” (as defined in the agreement): • a cash lump sum payment equal to two times the sum of his or her annual base salary and bonus (with the executive’s “bonus” for these purposes generally being the greater of the executive’s target bonus and the average of the three most recent annual incentive bonuses paid to the executive prior to the date of termination); and • continuation of life and health insurance benefits for