Company: SYY
Filing Date: 2025-10-02
Form Type: DEF 14A
Source: 0000096021-25-000147
Chunk: 49

Company: SYSCO CORP
Filing Date: 2025-10-02
Form: DEF 14A
Chunk 49
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 in control of Sysco, that personal concerns do not interfere with strategic decisions that may be in the best interests of our stockholders. The severance benefits described below are contingent upon the NEO: (i) executing a legally enforceable general release and waiver of claims in favor of Sysco; and (ii) complying with the Protective Covenants Agreement, which includes confidentiality, non- disparagement, and restrictions on competition and solicitation of Sysco employees, vendors, and customers for a period of two years following the NEO's departure from Sysco. Mr. Hourican Pursuant to the letter agreement dated January 10, 2020, (the “CEO Offer Letter”), Mr. Hourican is eligible for severance payments and benefits if his employment is terminated without “Cause” or if he resigns for “Good Reason” (as defined in the CEO Offer Letter). Non-Change in Control Termination. If Mr. Hourican’s termination does not occur upon, or within two years following a “Change in Control” (as defined in the 2018 Omnibus Incentive Plan), Mr. Hourican will be entitled to receive: • An amount equal to two times the sum of his annual base salary and his target AIP opportunity; • A pro-rated AIP award calculated based on the actual performance for such performance period, paid at the same time as other Sysco executives; and • Continuation of health, dental, and vision coverage at active employee rates for 24 months. Change in Control Termination. If Mr. Hourican’s termination occurs as a result of, or within two years following, a Change in Control, Mr. Hourican will be entitled to: • An amount equal to three times the sum of his annual base salary and his target AIP opportunity; • A pro-rated AIP award calculated based on the actual performance for such performance period, paid at the same time as other Sysco executives; and • Continuation of health, dental, and vision coverage continuation at active employee rates for 36 months. Messrs. Bertrand, Cheung, Peck, and Phillips Effective July 2020, the CLD Committee implemented standardized forms of severance agreements for executive vice presidents (the “Severance Agreements”) to specify the benefits to which they are entitled to receive upon termination. Non-Change in Control Termination. If an NEO’s employment is terminated without “Cause” or such NEO resigns for “Good Reason” (as defined in the Severance Agreements