Company: BWMN
Filing Date: 2025-04-21
Form Type: DEF 14A
Source: 0001193125-25-087211
Chunk: 30

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-04-21
Form: DEF 14A
Chunk 30
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 given on October 1, 2024, constituted a notice of nonrenewal by Mr. Bruen of the Employment Agreement, and his retirement was consented to by the Compensation Committee for purposes of Mr. Bruen’s right to continued vesting of certain restricted stock awards and performance based restricted stock units previously granted to Mr. Bruen. In connection with Mr. Bruen’s retirement and resignation, Mr. Bruen and the Company entered in to a Letter Agreement that provided, in addition to the applicability of the terms and conditions of the equity awards applicable to retirement, that Mr. Bruen would be eligible to receive his short-term incentive plan award for 2024, in an amount determined by the Compensation Committee based on the Company’s achievement of performance objectives for the year in accordance with the terms of the Employment Agreement, and would be engaged as an independent contractor to provide consulting services to the Company for a period of 13 weeks following his retirement for a fee of $9,447.87 per week. Severance Payments and Benefits Each of the Executive Employment Agreements contains provisions whereby if the Executive’s employment is terminated due to his death or permanent disability he will be entitled to payments of base salary, health and other fringe benefits, and accelerated vesting of outstanding equity awards, all as specified in their respective employment agreements. Each of the Executive Employment Agreements contain provisions whereby if the Executive’s employment is terminated by the Company through non-renewal,by the Company without Cause or by the Executive for Good Reason, he will be entitled to payments of base salary, health and fringe and other benefits, and accelerated vesting of outstanding equity awards, all as specified in their respective employment agreements. Except for Mr. Labovitz, each of the Executive Employment Agreements contain provisions whereby following a Change in Control the Executive is entitled to certain payments in the event of a termination of employment by the Company without Cause or by the Executive with Good Reason, all as specified in the respective employment agreement. Mr. Labovitz’s Employment Agreement specifies that if he terminates his employment (i) during the period July 1, 2026 through June 30, 2028 without Good Reason and with 180 days prior written notice, he would be entitled to payments of base salary, health and fringe and other benefits, and accelerated vesting of 50,000 shares of the time-based restricted stock granted on July 1, 2024 or (ii) as a result of a Change in Control but without Good Reason and with