Company: WRBY
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001104659-25-040245
Chunk: 42

Company: Warby Parker Inc.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 42
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the “DAF Grants”). The DAFs are organized exclusively for charitable purposes under Section 501(c)(3) of the Code, and neither Mr. Blumenthal nor Mr. Gilboa has a pecuniary interest in the DAFs. While neither Mr. Blumenthal nor Mr. Gilboa requested the DAF Grants, the Compensation Committee recommended, and the Board approved, the DAF Grants in order to provide additional incentive to the Co-CEOs in their efforts to lead the Company. The grant 29 TABLE OF CONTENTS date fair value of the DAF Grants is included under “Stock Awards” for Messrs. Blumenthal and Gilboa, although neither Co-CEO actually personally received, nor ever had an opportunity to receive, the grants or has a pecuniary interest in the DAFs. Perquisites and Other Employee Benefits We currently do not provide any of our NEOs perquisites beyond those provided to our employees generally. Our Compensation Committee may from time to time approve perquisites for our NEOs when our Compensation Committee determines that such perquisites are necessary or advisable to fairly compensate or incentivize them. We do not make gross-up payments to cover our NEOs’ personal income taxes that may pertain to any of the compensation or perquisites paid or provided by the Company. Employment Agreements Messrs. Blumenthal and Gilboa have not entered into employment agreements or offer letters with us. In 2011, we entered into an offer letter with Mr. Miller. The offer letter sets forth the title, base salary, target bonus opportunity, and initial equity award for Mr. Miller and summarizes the other terms and conditions applicable to Mr. Miller’s employment with the company. Under Mr. Miller’s offer letter, in the event we terminate Mr. Miller’s employment for other than cause or Mr. Miller resigns for good reason, each as defined below, then subject to Mr. Miller returning all company property in his possession and providing a general release in our favor, he is entitled to continued payment of his base salary for a period of six months and a lump sum payment in an amount equal to six months’ of the Company’s contribution under our health insurance plans in which Mr. Miller participates on the date of termination. For the purposes of Mr. Miller’s offer letter, “cause” means (a) his unauthorized use or disclosure of our confidential information or trade secrets, which use or disclosure causes material harm to us, (b) his material breach of any agreement between Mr. Miller