Company: RRGB
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001104659-25-038610
Chunk: 50

Company: RED ROBIN GOURMET BURGERS INC
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 50
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 will be entitled to receive any accrued obligations (as defined above). Upon Mr. Mayer’s termination of employment by the Company without Cause or due to his resignation for Good Reason, he will be entitled to receive as severance benefits, in addition to any accrued obligations: (i) installment payments equivalent to one times his base salary in effect immediately prior to the termination; (ii) payment of a pro rata share of his annual bonus that would otherwise have been earned based on actual performance, had he continued to be employed by the Company for the fiscal year in which his employment was terminated; and (iii) subject to his timely election of continued healthcare coverage under COBRA, a lump sum cash payment within 30 days after such election of an amount equal to the product of (x) the portion of monthly premiums of Mr. Mayer’s group health insurance, including coverage for Mr. Mayer’s eligible dependents, that the Company paid immediately prior to the date of separation, and (y) 12. Mr. Mayer’s receipt of the severance benefits mentioned in this paragraph is subject to his execution and non-revocation of a waiver and release of claims in favor of the Company and its affiliates. The Company entered into a severance agreement with Mr. Mayer in connection with the termination of his employment, which was filed as Exhibit 10.1 to the Company’s Current Report on Form 8-K/A filed with the SEC on March 6, 2025. Meghan Spuler Employment Agreement. In connection with Ms. Spuler’s appointment as Chief People Officer of the Company, Ms. Spuler and the Company entered into an employment agreement, dated November 25, 2023 (the “Spuler Employment Agreement”). The Spuler Employment Agreement provides for the following initial compensation: (i) an annual base salary of $375,000; (ii) eligibility to receive an annual cash incentive award under the STI with a target of 60% of Ms. Spuler’s base salary (beginning in 2024); (iii) eligibility to participate in the Company’s LTI plan with a target annual award value equal to 70% of Ms. Spuler’s initial base salary (beginning in 2024); a (iv) a sign-on cash bonus of $50,000 paid in 2023; and (v) a one-time grant of RSUs having a target value of $50,000, subject to all of the terms and conditions of, the 2017 Plan, and