Company: KRO
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001257640-25-000009
Chunk: 32

Company: KRONOS WORLDWIDE INC
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 32
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 if any, for specific matters) for the year, using as a reasonable approximation for such bonus the actual bonus that Contran paid or accrued for such employee in the prior year; and |

| ● | Contran’s portion of the social security and medicare taxes on such base salary and an estimated overhead amount applied to the base salary for the cost of medical and life insurance benefits, unemployment taxes, disability insurance, defined benefit and defined contribution plan benefits, professional education and licensing and costs of providing an office, equipment and supplies related to providing such services. The estimated overhead amount for each employee is determined using a headcount-based methodology and is the same amount for each individual providing services under the ISA. |

Contran’s senior management subsequently makes such adjustments to the details of the proposed ISA charge as they deem necessary for accuracy, overall reasonableness and fairness to us. In the first quarter of each year reported in the 2024 Summary Compensation Table, the proposed charge for that year under our ISA with Contran was presented to our management development and compensation committee, and the committee considered whether to recommend that our board of directors approve the ISA charge. Among other things during such presentation, the committee was informed of:

| ● | the quality of the services Contran provides to us, including the quality of the services certain of our executive officers provide to us; |

| ● | the comparison of the ISA charge and number of full-time equivalent employees reflected in the charge by department for the prior year and proposed for the current year; |

| ● | the comparison of the prior year and proposed current year charges by department and in total and such amounts as a percentage of Contran’s similarly calculated costs for its departments and in total for those years; |

| ● | the comparison of the prior year and proposed current year average hourly rate; and |

| ● | the concurrence of our chief financial officer as to the reasonableness of the proposed charge. |

In determining whether to recommend that the board of directors approve the proposed ISA fee to be charged to us, the management development and compensation committee considers the three elements of Contran’s cost of employing the personnel who provide services to us, as discussed above, including the cost of employing our named executive officers, in the aggregate and not individually. After considering the information contained in such presentations, and following further discussion and review, our management development and compensation committee recommended that our board of directors approve the proposed ISA fee after concluding, based on their collective business judgment and experience without performing any independent market research, that: