Company: CLH
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0000822818-25-000011
Chunk: 39

Company: CLEAN HARBORS INC
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 39
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 MIP Bonus, the C&HC Committee establishes Company-wide performance metrics in the first quarter of each fiscal year and approves the achievement levels of these metrics in the first quarter of the following fiscal year. On January 23, 2024, the C&HC Committee selected revenue, Adjusted EBITDA, Adjusted FCF and TRIR, as those terms are defined in Definitions for 2024 Incentive Compensation section of Appendix B, as the Company-wide performance metrics for purposes of potential Annual MIP Bonuses. These Company-wide goals were established based on the 2024 budget, which was approved by the Board in December 2023, and therefore are linked with the strategic initiatives of the year. Additionally, these key financial targets measure strategic annual growth, overall operating performance, and cash flow generation which align with measures of the Company’s performance and shareholder value. Finally, safety is a core value throughout Clean Harbors. Employees at all levels of our organization share this belief and are committed to keeping our teams, customers and communities safe. The C&HC Committee has selected TRIR to reflect our continued commitment to safety.

The following table summarizes the C&HC Committee’s determination of the weighting, threshold, target and maximum values for each of the metrics for the 2024 Annual MIP Bonus (in thousands, except percentages and TRIR):

| Metric                      |     | Weighting |     | Threshold |     | Target |     | Maximum |
| Revenue ($)                 |     | 20%       |     |     5,117 |     |  5,685 |     |   6,524 |
| Adjusted EBITDA ($)         |     | 40%       |     |     1,045 |     |  1,100 |     |   1,155 |
| Adjusted Free Cash Flow ($) |     | 20%       |     |       347 |     |    385 |     |     424 |
| TRIR                        |     | 20%       |     |       N/A |     |   0.62 |     |    0.61 |

The achievement of the metrics is determined in the first quarter of the following year. The payout is calculated using the NEO’s base salary paid within the year, other than for Mr. Diderich whose 2024 Annual MIP Bonus is based on his annualized salary, the Annual MIP % shown above and then a performance factor based on the achievement of the