Company: TMCWW
Filing Date: 2025-07-18
Form Type: DEF 14A
Source: 0001104659-25-068870
Chunk: 29

Company: TMC the metals Co Inc.
Filing Date: 2025-07-18
Form: DEF 14A
Chunk 29
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 months from the termination date of options that vest based on the achievement of certain company-based milestones; (d) pro-rata payment of the Shesky Employment Bonus; and (e) continued payment of the premiums required to maintain Mr. Shesky’s participation in the benefits plans in which he participates for the minimum period required by applicable law. In the event that, within 24 months following a “Change of Control” as defined in the Shesky Employment Agreement, Mr. Shesky’s employment is terminated without “Cause” or if Mr. Shesky resigns for “Good Reason”, Mr. Shesky will receive (a) a payment equal to 12 months of his then annual base salary; (b) 1.5 times the Shesky Employment Bonus paid for the previous year; and (c) immediate vesting of all unvested equity awards, subject to Mr. Shesky agreeing that the non-competition period described above be extended to 12 months from the date of termination. Employee Benefits Our NEOs participate in employee benefit programs available to our employees generally. Stock Compensation Plans and Awards DeepGreen Plan As a consequence of the going-public business combination in September 2021, each option to purchase DeepGreen common shares outstanding under the DeepGreen Metals Inc. Stock Option Plan, as amended (the “DeepGreen Plan”), whether vested or unvested, that was outstanding immediately prior to the closing of the business combination (the “Effective Time”) became an option (vested or unvested, as applicable) to purchase a number of our common shares equal to the number of DeepGreen common shares subject to such option immediately prior to the Effective Time as adjusted for the per share consideration in the business combination, rounded down to the nearest whole number of shares, at an exercise price per share equal to the exercise price per share of such option immediately prior to the Effective Time as adjusted for the per share consideration in the business combination, rounded up to the nearest whole cent, as well as a certain number of Class A through H special shares. The board of directors is authorized to administer the DeepGreen Plan. No further awards will be granted pursuant to the DeepGreen Plan. Upon any time when an option granted under the DeepGreen Plan remains unexercised with respect to any common shares (and any applicable special shares) and a transaction is proposed that the majority of the board of directors determines is reasonably likely to be considered a Change of Control Event, as defined by the DeepGreen Plan (