Company: CHMI-PB
Filing Date: 2025-03-12
Form Type: 8-K
Source: 0001140361-25-008429
Chunk: 1

Company: Cherry Hill Mortgage Investment Corp
Filing Date: 2025-03-12
Form: 8-K
Item: Item 5.02
Chunk 1
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 to timely sign and not revoke a waiver and release of claims against the Company and its affiliates, the
Company will pay in cash a “severance payment” (as defined below) to such participant within the 60-day period following such participant’s separation date. Any other rights and benefits of a participant which may be available pursuant to any
employee benefits plans, policies, and practices of the Company will be determined in accordance with the applicable terms and provisions of such plans, policies, and practices as in effect on such participant’s separation date.

For purposes of the Executive Severance Plan, a “severance payment” means a lump-sum cash payment equal the total of (A) and (B) where (A) is an
amount equal to a participant’s “severance multiple” multiplied by such participant's annual compensation (total of salary plus target bonus) plus (B) to the extent such participant participates in the Company’s health and/or dental plans as of
such participant’s separation date, an amount equal to 12 months of health and/or dental premium payments as determined under Section 4980B of the Internal Revenue Code of 1986, as amended (the “ Code”), and Sections 601-609 of the Employee
Retirement Income Security Act of 1974, as amended (“ ERISA”), and determined for such participant based on such participant’s elections as in effect on such participant’s separation date. The term “severance multiple” is defined in the Executive
Severance Plan as a number equal to two and one-half (2.5) for the Company’s Chief Executive Officer and one and one-half (1.5) for all other participants.

Under the terms of the Executive Severance Plan, a participant is subject to certain customary restrictive covenants, including a one-year non-compete
that would apply from such participant’s separation date. The Company has reserved the right to amend, modify, terminate or discontinue the Executive Severance Plan subject to certain limitations.

The foregoing description of the Executive Severance Plan in this Item 5.02 is qualified in its entirety by reference to the full text of the Executive
Severance Plan, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference.

  Item 9.01      Financial Statements and Exhibits.