Company: VUZI
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001104659-25-040266
Chunk: 36

Company: Vuzix Corp
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 36
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 arrangements are deemed excess parachute payment amounts |     |                                                    |

If Mr. Travers’ employment is terminated for cause or by Mr. Travers voluntarily, he will be entitled to receive only any accrued amounts owing him and will forfeit all unvested equity and unearned incentive payments. Grant Russell If Mr. Russell’s employment is terminated (i) by the Company without cause or (ii) by Mr. Russell for good reason or (iii) as a result of disability, Mr. Russell would be entitled to receive:

| ● | two times his annual base salary, payable in twenty-four (24) equal monthly installments |     | $ | 931,500 |
| ● | his annual incentive bonus, payable within 60 days of termination                        |     |   |       — |
|   | Total cash compensation upon termination                                                 |     | $ | 931,500 |

If Mr. Russell’s employment is terminated within one year of a change-of-control for any reason other than by us for cause, or if he elects to terminate his employment (whether or not for good reason) during the period beginning 121 days after a change of control and ending on the second anniversary thereof, Mr. Russell would be entitled to receive:

| ● | four times his annual base salary, payable in forty-eight (48) equal monthly installments |     | $ | 1,863,000 |
| ● | his annual incentive bonus, then in effect, payable within 60 days of termination         |     |   |         — |
|   | Total cash compensation upon change-of-control                                            |     | $ | 1,863,000 |

31 Additionally, in either case Mr. Russell would also be entitled to:

| ● | continuation of medical benefits throughout the 24- or 48-month period during which severance payments are made or until he becomes eligible to receive medical benefits from subsequent employer                                                                                                                                                                                                                                                            |     | $12,772 (for 24 months) or $25,544 (for 48 months) |
| ● | any accrued amounts owing to him                                                                                                                                                                                                                                                                                                                                                                                                                             |     |                                                    |
| ● | additionally, in the event any severance payments under those existing agreements become subject in the future to IRS Section 280G excise taxes that lower the net amounts after tax those officers would otherwise receive, then the Company shall gross-up such payments to these “disqualified individuals” (IRS definition) for the 20 percent excess tax if their currently existing severance arrangements are deemed excess