Company: CRL
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001104659-25-030908
Chunk: 91

Company: CHARLES RIVER LABORATORIES INTERNATIONAL, INC.
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 91
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 and (6) job relocations requiring the corporate officer to relocate more than 50 miles from the office where he or she is based. Severance Payments Absent a Change in Control The table below sets forth the amounts payable to each named executive in the event of termination absent a change in control, which is based upon the following assumptions: Cash Severance— • Termination occurs on December 28, 2024 (last day of the fiscal year 2024). • We assumed that the full year’s actual bonus was already earned by the named executive and paid by us; therefore, it was not included as a part of the cash severance payment. However, in actual practice, under the EICP, employees who leave us prior to actual receipt of EICP awards forfeit the total bonus payment (except in instances of retirement, death, or disability). Benefits Continuation— • In accordance with the Executive Separation Plan, the benefits continuation value for each named executive includes continuation of medical and dental coverage for the applicable severance period, with the employer subsidized value being subject to imputed income. Equity— • In accordance with the 2018 Incentive Plan, the named executives are entitled to exercise any vested stock option up to three months after termination of employment (except with respect to retirement eligible executives with respect to stock options granted in 2015 and thereafter). As described in detail on page 53of this Proxy Statement, commencing with our 2015 equity grants, we have generally included a full career retirement provision in equity awards that provide for the continued vesting of 67 unvested equity grants for employees who retire after meeting the following specified criteria. Mr. Foster is retirement eligible, and received awards since that time that would qualify for continued post-retirement vesting. • In accordance with the 2018 Incentive Plan, any unvested options, restricted stock/units, or PSUs after such time are forfeited (except with respect to retirement eligible executives with respect to stock options, restricted stock, or PSUs granted in 2015 and thereafter, as described above), although we note that (1) grant agreements beginning in 2020 allow for accelerated vesting of RSUs and stock options upon the death of the participant and (2) if an employee terminates due to death more than 12 months following the date of grant of a PSU, a pro rata portion of the PSU is deemed to immediately vest. Accordingly, for purposes of this table: • PSUs granted in