Company: REX
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0000930413-25-001442
Chunk: 25

Company: REX AMERICAN RESOURCES Corp
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 25
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| o |     | “Change in control” includes any person acquiring 25% or more of the outstanding common stock of the Company, incumbent directors or their Board approved successors ceasing to                                                                                     |

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| constitute a majority of our board of directors, or a merger or other reorganization resulting in less than 50% of the outstanding voting shares of the surviving or resulting company being owned by our shareholders determined immediately prior to the event. |

| • |     | In the event of termination due to death, total disability or voluntary termination, the executive or his estate is entitled to (i) his salary computed pro rata to the date of termination, (ii) bonus payment computed pro rata based on the date of termination and (iii) the right to exercise any awards under any 
 incentive plan whether exercisable or unexercisable or vested or unvested, assuming in the case of voluntary termination the executive has 20 years of service and attained age 55.                                                                                                                                     |
| • |     | In the event of termination by us for cause, the executive is entitled to his salary and bonus payment computed pro rata to and based upon the date of termination.                                                                                                                                                     |

The 2022 TSR Awards granted to Mr. Rizvi and Mr. Bruggeman provided that, in the event that, during the three year performance period (but prior to any change in control), the employment of Mr. Rizvi or Mr. Bruggeman was terminated by the Company without cause or by him for good reason, the performance goals on which the achievement of the RSU’s subject to the awards were based would be deemed satisfied at the greater of the 100% level of performance or the Company’s actual TSR performance as of the date of the occurrence of such event relative to the index group, and would be paid within 30 days after the occurrence of such event. If, during such period, Mr. Rizvi or Mr. Bruggeman died or became totally disabled, the performance goals on which the achievement of the RSU’s subject to the awards were based would be deemed satisfied at the 100% level of performance and would be paid within 30 days after the occurrence of such event.

In the event of a change in control (as defined in the 2015 Incentive Plan) of the Company during the performance period for the 2022 TSR Awards, the performance goals on which the achievement of the RSU’s subject to