Company: PIII
Filing Date: 2025-04-18
Form Type: PRE 14A
Source: 0001140361-25-014596
Chunk: 44

Company: P3 Health Partners Inc.
Filing Date: 2025-04-18
Form: PRE 14A
Chunk 44
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27 In connection with entering into the Employment Agreement, Dr. Coffman was granted awards under the Company’s 2024 Employment Inducement Incentive Award Plan (the “Inducement Plan”), covering an aggregate of 16,500,000 shares of the Company’s Common Stock (which amount does not reflect the Reverse Stock Split). Of this amount, (i) 12,100,000 shares (not reflecting the Reverse Stock Split) are subject to a non-qualified stock option (the “Option”), which vest and become exercisable based solely on the passage of time and (ii) 4,400,000 shares (not reflecting the Reverse Stock Split) will be subject to an RSU award (together with the option, the “Coffman Awards”), which will vest upon the attainment of both service-vesting and performance-vesting conditions. Under the terms of the CEO Employment Agreement, if Dr. Coffman’s employment is terminated by the Company without “cause” or by Dr. Coffman for “cause” (each, as defined in the CEO Employment Agreement), then in addition to the accrued benefits through the date of termination, he will be entitled to receive the following severance payments and benefits:

| • | continued Company-subsidized health care coverage for up to 12 months following the termination date; and |

| • | if such termination occurs within one year following certain qualifying corporate transactions, full accelerated vesting of the Coffman Awards. |

The severance payments and benefits described above are subject to Dr. Coffman’s execution and non-revocation of a general release of claims in favor of the Company and are in addition to any accrued amounts through the date of termination. In addition, if Dr. Coffman’s employment is terminated due to his death, then, in addition to any accrued benefits through the date of termination, Dr. Coffman’s estate will be entitled to receive a pro-rated portion of his target bonus for the year of termination. The CEO Employment Agreement includes customary confidentiality and mutual non-disparagement provisions, as well as a standard non-compete restriction effective during employment and for 18 months thereafter and service provider/customer non-solicitation restrictions effective during employment and for 24 months thereafter. Sherif Abdou, M.D. Consulting Agreement In connection with Dr. Abdou’s resignation as Chief Executive Officer and President of the Company on May 8, 2024, we entered into a Consulting Agreement (the “Abdou Consulting Agreement”) with him