Company: KVHI
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001104659-25-040173
Chunk: 30

Company: KVH INDUSTRIES INC \DE\
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 30
---
 the valuation date.

KVH Industries, Inc. 2025 Proxy Statement 20

TABLE OF CONTENTS COMPENSATION OF DIRECTORS AND EXECUTIVE OFFICERS Pay for Performance Charts The following charts show, for the periods presented in the foregoing table, the relationship between, on the one hand, the compensation actually paid to each person who served as our chief executive officer during those periods and the average compensation actually paid to our other named executive officers and, on the other hand, each of: • Our cumulative total shareholder return since December 31, 2021, the last trading day before fiscal year 2022; and • Our net income (loss) over the last three years. 21 KVH Industries, Inc. 2025 Proxy Statement TABLE OF CONTENTS COMPENSATION OF DIRECTORS AND EXECUTIVE OFFICERS Executive Agreements Employment Agreements In May 2022, we entered into executive employment agreements with each of Brent C. Bruun, Felise B. Feingold and certain other persons serving as executive officers at that time in order to retain their services and provide them with certain benefits in the event that we terminate the executive’s employment without cause (as defined in the agreement) or the executive terminates his or her employment for good reason (as defined in the agreement) (either such termination, a “Qualifying Termination”), including following a change of control. The terms of the agreements are substantially identical except as to title, salary, target bonus and reporting responsibilities. The agreements generally confirmed the executives’ then-current compensation arrangements with respect to base salary, target bonus opportunity for 2022, expense reimbursement and participation in employee benefit plans. The agreements contain customary provisions regarding the performance of duties, assignment of inventions, confidentiality and use of information, return of company property, and cooperation in litigation and regulatory matters. The agreements include customary non-competition and non-solicitation covenants. These covenants have a term of twelve months or, if the executive becomes entitled to receive the change in control severance payments and benefits described below, eighteen months. The agreements provided that, if the executive continued to serve as an employee through December 31, 2022 (the “Retention Date”), we would pay the executive a retention bonus equal to 75% of the executive’s current base salary, and we would accelerate the vesting of the executive’s equity awards that would otherwise have vested in the twelve months after the Retention Date. In October 2022, Mr. Bruun agreed to