Company: KITTW
Filing Date: 2025-04-18
Form Type: PRE 14A
Source: 0001849820-25-000115
Chunk: 50

Company: Nauticus Robotics, Inc.
Filing Date: 2025-04-18
Form: PRE 14A
Chunk 50
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 cause or by Mr. Radford for good reason within three months prior to a change in control or within 12 months following a change in control, he was eligible to receive (i) 18 months of continued salary payments and COBRA premiums, (ii) a lump-sum payment equal to the higher of Mr. Radford’s annual bonus target in the year of the change in control or the year of his termination of employment, and (iii) acceleration of outstanding equity, with any performance criteria assumed to have been achieved at target, unless the award agreement provides otherwise. Severance benefits as summarized above were contingent upon Mr. Radford’s execution and non-revocation of a separation agreement and general release of claims in favor of the Company. Mr. Radford departed the Company on January 4, 2024.

Mr. Bigney . Mr. Bigney was party to an offer letter, dated October 16, 2023, for his services as General Counsel. The offer letter provides for (i) an initial annual base salary of $250,000, (ii) a target annual cash bonus opportunity of no less than 50% of Mr. Bigney’s annual base salary, (iii) a sign-on incentive equity award equal to 3x Mr. Bigney’s base salary, vesting over five years and (iv) annual equity incentive grants. If (i) Mr. Bigney is terminated by the Company for any reason other than for cause or other than his breach of the terms and conditions of the offer letter, or (ii) Mr. Bigney terminates his employment for good reason, then to the extent Mr. Bigney executes and does not revoke a general release of claims in favor of the Company, Mr. Bigney will be entitled to 12 months of continued base salary plus COBRA premiums. In addition, if Mr. Bigney is terminated within 12 months of a change of control, Mr. Bigney will receive a pro-rata portion of the current year bonus at target performance and vesting of his equity awards will accelerate. Mr. Bigney’s annual base salary was subsequently increased to $300,000 by the Board effective January 1, 2024.

Mr. Symington . Mr. Symington is party to an offer letter, dated August 9, 2012, for his services as General Counsel. The offer letter provides for (i) an initial annual base salary of $300,