Company: NAVN
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001628280-25-044812
Chunk: 235

Company: Navan, Inc.
Filing Date: 2025-10-10
Form: S-1/A
Chunk 235
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 monthly installments over the following three years, subject to continued service through each applicable vesting date. (13) The RSUs vest on the first date upon which both a service-based condition and a performance-based condition are satisfied. See the section titled “—Equity-Based Incentive Awards—RSUs Granted in Fiscal 2025.” Change in Control and Severance Agreements Before the completion of this offering, we intend to enter into change in control and severance agreements with each of our named executive officers. Under each named executive officer’s change in control and severance agreement, if, outside of the applicable Change in Control Period (as defined below), a named executive officer’s employment is terminated by us without cause (excluding by reason of the named executive officer’s death or disability) or by the named executive officer for good reason, the named executive officer would be entitled to receive the following severance benefits: • a lump sum cash severance payment equal to (i) six months (or in Mr. Cohen’s case, 12 months) of the named executive officer’s annual base salary, (ii) a prorated portion of the annual bonus that the named executive officer otherwise would have received for the year in which such termination occurs had the named executive officer remained employed through the date required to earn such bonus or as in effect immediately prior to the change in control, whichever is greater, and (iii) the amount of any cash performance incentive or bonus that the named executive officer otherwise would have received for any performance period that had ended before such termination had the named executive officer remained employed through the date required to earn such incentive or bonus; • payment of premiums for coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, or COBRA, for the named executive officer and the named executive officer’s eligible dependents, if any, for up to 12 months (or in Mr. Cohen’s case, 18 months) following the date of such termination or taxable monthly payments for the equivalent period in the event payment of the COBRA premiums would violate or be subject to an excise tax under applicable law; • accelerated vesting of any unvested time-based service equity awards that would have vested during the 12 months following the termination date; and • extension of the period that each of the named executive officer’s vested options will remain exercisable until the earlier of (i) 24 months following the date of the named executive officer’s termination of employment (or if the termination occurs