Company: ABBV
Filing Date: 2025-03-24
Form Type: DEF 14A
Source: 0001558370-25-003537
Chunk: 41

Company: AbbVie Inc.
Filing Date: 2025-03-24
Form: DEF 14A
Chunk 41
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 grantor trusts, net of tax withholdings. These amounts are credited annually with earnings. Amounts deposited in the individual trusts are not tax-deferred and the NEOs personally pay the taxes on those amounts without gross-ups. NEOs elect the manner in which the assets held in their grantor trusts will be distributed to them upon retirement or other separation from the company. These arrangements are described in greater detail in this proxy statement beginning with the section captioned “Summary Compensation Table.” Financial Planning NEOs are paid an annual stipend of $10,000 for estate planning advice, tax preparation and general financial planning fees. The stipend is income to the NEO, who is responsible for payment of all resulting taxes without gross-ups. Company-Provided Transportation NEOs are eligible for transportation perquisites that are designed to improve the effectiveness and efficiency of their work, including the use of a company-leased vehicle and access to company-provided air travel, as appropriate. In some circumstances, these benefits may be used for personal travel, which would then be considered part of the NEO’s total compensation and treated as taxable income to them under applicable tax laws. The NEOs pay the taxes on such income without gross-ups. Disability Benefits In addition to AbbVie’s standard disability benefits, NEOs are eligible for a monthly long-term disability benefit, which is described in the “Potential Payments upon Termination or Change in Control” section of this proxy statement. EMPLOYMENT AGREEMENTS AbbVie does not have employment agreements with any of its NEOs. CHANGE IN CONTROL AGREEMENTS AbbVie has entered into change in control agreements with its NEOs to aid in retention and recruitment, encourage continued attention and dedication to assigned duties during periods involving a possible change in control of the company, and to protect the earned benefits of the NEOs against potential adverse changes resulting from a change in control. The change in control agreements contain a double-trigger feature, meaning that if the NEO’s employment is terminated other than for cause or permanent disability, or if the NEO elects to terminate employment for good reason, within two years following a change in control, they are entitled to receive certain pay and benefits as described in the section of this proxy statement captioned “Potential Payments upon Termination or Change in Control.” 48 | 2025 Proxy Statement

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EXCISE TAX GROSS-UPS AbbVie does not provide excise tax gross-ups on NEO severance or other payments