Company: PRI
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0000950170-25-048061
Chunk: 90

Company: Primerica, Inc.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 90
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 subject to annual review by the Compensation Committee for increase but not decrease pursuant to its normal performance review policies for executive officers. Notwithstanding the foregoing, at Mr. G. Williams’ request the Compensation Committee reduced his salary by 20% from September 1, 2022 through December 31, 2024. The employment agreements provide that the annual base salary for Mr. Schneider is $550,000 and for each of Ms. Tan and Mr. Pitts is $500,000, subject to increase or decrease as a result of annual review by the Compensation Committee pursuant to its normal performance review policies for executive officers. Annual Cash Bonus The Chief Executive Officer will be eligible to receive an annual cash bonus upon achieving certain performance targets that shall be established in good faith by the Compensation Committee, with the threshold and target annual cash bonus amounts being set by the Compensation Committee annually. Each other named executive officer will be eligible to receive an annual cash bonus upon achieving certain performance targets that shall be established by the Compensation Committee, with such executive officer’s target annual cash bonus opportunity to be determined by the Compensation Committee based upon the recommendations of the Chief Executive Officer. Long-Term Incentive Awards Each named executive officer is eligible to receive, in the good faith discretion of the Compensation Committee, annual equity compensation awards granted pursuant to the Company’s long-term incentive compensation arrangements. Any outstanding long-term incentive awards will vest upon the termination of the executive’s employment: (i) by the Company without cause or due to the executive’s disability or death; or (ii) by the executive officer for good reason. Post-Termination Payments The material terms and conditions of the severance provisions of the employment agreements are set forth below.

| Primerica 2025 Proxy Statement | 87 |

| EXECUTIVE COMPENSATION |

For Cause or By the Executive Without Good Reason If an executive terminates his or her employment without good reason, then the Company shall pay the executive any accrued but unpaid annual base salary, any accrued but unused vacation pay, any accrued but unpaid annual bonus for the fiscal year prior to the year of termination and any amounts or benefits due to the executive as of the date of his or her termination under the Company’s plans or programs (together, “Accrued Compensation”). If an executive is terminated by the Company for cause, then the executive shall be entitled to receive from the Company the Accrued Compensation, except that he or she will not be entitled to his or her annual bonus for the previous fiscal year of the Company. Death or