Company: SVV
Filing Date: 2025-04-21
Form Type: DEF 14A
Source: 0001883313-25-000019
Chunk: 51

Company: Savers Value Village, Inc.
Filing Date: 2025-04-21
Form: DEF 14A
Chunk 51
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BRA (18 months for Mr. Walsh),

• performance-based options that were granted prior to January 1, 2022 remained available for performance-based vesting until December 31, 2024, and

#### •

#### for some NEOs, outplacement services.
In the event of death or disability, performance-based options that were granted prior to January 1, 2022 will remain available for performance-based vesting until the first anniversary of the date of death or disability, or, for Mr. Walsh in the event of death, will be eligible for immediate vesting based on stock price calculations at the time of his death.

For purposes of each employment agreement, “good reason” generally includes one of the following occurring without the executive’s consent: (i) material diminution of authority, duties or responsibilities; (ii) a change of principal employment location by more than 50 miles (or 35 miles for Mr. Walsh); (iii) material diminution in base salary (or target bonus for Mr. Walsh); or (iv) material breach by the company of the employment agreement.

For purposes of each employment agreement, “without cause” generally is defined as involuntary termination for reasons other than death, disability, voluntary resignation, material breach of employment agreement or any other agreement, breach of written policy or code of conduct, commission of act of gross negligence, willful misconduct, breach of fiduciary duty, fraud, theft or embezzlement, the commission or conviction of any felony or crime involving moral turpitude, willful failure or refusal to perform obligations pursuant to the employment agreement or to follow any lawful and reasonable directive from the Board.

Each of the employment agreements (other than Walsh’s) provides for a Section 280G “better-of provision” such that payments or benefits that each individual receives in connection with a change in control will be reduced to the extent necessary to avoid the imposition of any excise tax under Sections 280G and 4999 of the Code if a reduction would result in greater after-tax payment amount for the individual. There are no tax gross-up provisions related to Section 280G or 4999 of the Code in the employment agreements or other agreements.

Restrictive Covenants. Each named executive officer’s employment agreement subjects the executive to a non-competition covenant for up to 18 months (or 12 months for Mr. Walsh) following termination of employment. Each named executive officer is also subject to confidentiality and proprietary information covenants, non-dispar