Company: INGN
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0000950170-25-045737
Chunk: 80

Company: Inogen Inc
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 80
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’s similarly situated executives. We believed that providing these NEOs with equity award commitments was important in order to recruit them to our business.

Mr. Ramade entered into an addendum to his existing employment contract on January 2, 2024. The employment agreement provides for a base salary of €364,000 and a target annual cash incentive opportunity of 60% of his base salary. His employment agreement also provides that the achievement of the quarterly target at 50% of his gross annual base salary remains guaranteed for the first two quarters following his original hire date in November 2023.

We also had an employment agreement with Dr. Glezer and a written offer letter with Mr. Sergesketter. Each of these agreements included, among other things, base salary, annual bonus eligibility and potential equity awards, and was approved by our Board or the Compensation Committee.

Post-Employment Compensation

Having reasonable and competitive post-employment compensation arrangements in place is essential to attracting and retaining highly qualified executive officers. Our post-employment compensation arrangements are designed to provide reasonable compensation to executive officers who leave us under certain circumstances to facilitate their transition to new employment as well as to encourage such employees to ease any transition that may be required in the context of a change in control. Further, we seek to mitigate any potential employer liability and avoid future disputes or litigation by requiring a departing executive officer to sign a separation and release agreement acceptable to us as a condition to receiving post-employment compensation payments or benefits.

We do not consider specific amounts payable under these post-employment compensation arrangements when establishing annual compensation. However, we believe these arrangements are necessary to offer compensation packages that are competitive.

These arrangements align the interests of management and stockholders when considering the long-term future for the Company. The primary purpose of these arrangements is to keep our most senior executive officers focused on pursuing corporate transaction activity in the best interests of stockholders regardless of whether those transactions may cause their own job loss.

Under their employment agreements, Mr. K.R.M. Smith, Mr. K.P. Smith, and Mr. Ramade are eligible for severance and change of control benefits upon certain qualifying terminations of their employment. Dr. Glezer was eligible for severance and change of control benefits upon certain qualifying terminations of his employment.

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In addition, the 2023 Plan provide all employees, including our NEOs with the certain vesting acceleration benefits: in the event of an “involuntary termination” (as defined in the 202