Company: MRCY
Filing Date: 2025-09-10
Form Type: DEF 14A
Source: 0001049521-25-000029
Chunk: 40

Company: MERCURY SYSTEMS INC
Filing Date: 2025-09-10
Form: DEF 14A
Chunk 40
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 vested and distributed, as applicable.

Exercise or Purchase Price Tax Withholding. Participants in the 2025 Plan are responsible for the payment of any exercise or purchase price or tax withholding obligations associated with their participation in the 2025 Plan. The Committee may permit or require a participant to satisfy such obligations, in whole or in part, by (i) delivering to the Company unrestricted shares held by the participant, (ii) withholding from shares of stock otherwise issuable to the participant under an award, or (iii) authorizing an irrevocable election to a broker-dealer acceptable to the Company to make cash payments in respect of such obligations using proceeds from the prompt sale of shares to be issued under an award.

Change of Control Provisions. Upon a change-in-control of the Company, participants will be granted replacement awards by the acquiring or surviving company that are of the same type held prior to the change-in-control, except that performance awards will be converted into replacement time-based awards for the remainder of the performance period (or a shorter period as determined by the Committee), with the number of underlying shares determined based on the greater of target performance or actual performance through the latest practicable date prior to the change-in-control. Replacement awards will generally continue to vest on the same schedule as the original awards but will vest in full if, within the 12 months following the change-in-control, the Company terminates the participant's employment (other than for cause) or the participant terminates for "good reason," subject to the participant's execution of an effective release of claims at the time of such termination if the value of the benefits received as a result such accelerated vesting exceeds $25,000. In the event an acquiring or surviving company refuses to issue replacement awards on the terms described above, then all awards will become vested in full, with performance awards vesting at the greater of target performance or actual performance through the latest practicable date prior to the change-in-control. Notwithstanding the foregoing, all awards held by non-employee directors will immediately become fully vested upon a change-in-control. The terms "cause," "good reason" and "change-in-control" are defined in the 2025 Plan.

Amendments and Termination. The Committee may amend, alter or discontinue the 2025 Plan at any time, subject to two limitations. First, no amendment, alteration, or discontinuance may materially impair the rights of a participant with respect to a previously granted award without the participant's consent (unless the amendment is required to comply with