Company: CHEF
Filing Date: 2025-03-26
Form Type: DEF 14A
Source: 0001517175-25-000003
Chunk: 50

Company: Chefs' Warehouse, Inc.
Filing Date: 2025-03-26
Form: DEF 14A
Chunk 50
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 Other Welfare Benefits

We believe that an important aspect of attracting and retaining qualified individuals to serve as executive officers involves providing health and welfare benefits as well as methods for those individuals to save for retirement. Accordingly, we provide our named executive officers with the following benefits:

• Health Insurance . We provide each of our named executive officers and their spouses and children the same health, dental, and vision insurance coverage we make available to our other eligible employees. For our named executive officers, we pay both our portion and the executive’s portion of the premiums for these benefits.

• Disability Insurance . We provide each of our named executive officers with short-term disability insurance.

• Life Insurance . For each of our named executive officers, we pay the premiums for life insurance in an amount equal to their annual base salary, up to $300,000.

• Retirement Benefits . We do not provide pension arrangements or post-retirement health coverage for our named executive officers or employees; however, our named executive officers and other eligible employees are eligible to participate in our 401(k) defined contribution plan. We make matching contributions for each of our employees, including our named executive officers, in an amount equal to 50% of any e mployee contributions up to 6% of the employee’s salary.

• Nonqualified Deferred Compensation . We do not currently provide any nonqualified defined contribution or other deferred compensation plans to any of our employees.

Termination Protection Benefits

We believe that an important aspect of attracting and retaining qualified individuals to serve as executive officers involves providing market termination protection benefits. We have entered into employment agreements with our named executive officers pursuant to which they are entitled to certain benefits upon qualifying terminations of employment and have implemented a change in control severance program in which they participate. Further, our named executive officers are party to severance agreements discussed in further detail in “ Compensation Discussion and Analysis - Employment Agreements, Offer Letters and Severance Benefits. ”

Our executive officers generally have long tenure with the Company and have provided the vision and leadership that have built the Company into the successful enterprise that it is today. The Compensation Committee believes that the interests of stockholders are best served by ensuring that the interests of our senior management are aligned with those of our stockholders. Change in control benefits are intended to eliminate, or at least reduce, the reluctance of senior management to pursue potential change in control transactions that may be in stockholders’ best interests. The security of competitive change in control arrangements serves to eliminate distraction caused by uncertainty about personal financial circumstances during a period in which the Company requires