Company: UIS
Filing Date: 2025-03-24
Form Type: DEF 14A
Source: 0001104659-25-027313
Chunk: 50

Company: UNISYS CORP
Filing Date: 2025-03-24
Form: DEF 14A
Chunk 50
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tabef with good reason and at the time of termination the Company has reached a written agreement with a successor to Mr. Altabef to serve as CEO of the Company, then, subject to Mr. Altabef having executed and not revoked a general release of claims in favor of the Company, any then outstanding time-based RSUs will vest as of the date his employment terminates and any then outstanding rTSR-based RSUs and performance-based cash awards will remain outstanding and eligible to vest based on actual performance through the end of the applicable performance periods. Given Mr. Altabef’s age and the circumstances of the termination of his employment, these provisions will apply. As a result, Mr. Altabef will vest in 194,637 time-based RSUs as of the date his employment terminates and remain eligible to vest in 114,637 unearned rTSR-based RSUs (assuming target performance) and $1,456,747 in unearned performance-based cash awards (assuming target performance). Mr. Thomson’s New Letter Agreement On December 5, 2024, the Company entered into a letter agreement (the “Offer Letter”) with Mr. Thomson, as amended on January 3, 2025, regarding his service as President and CEO. The Offer Letter takes effect on April 1, 2025, and supersedes his prior executive severance and change in control employment agreements. Pursuant to the Offer Letter, Mr. Thomson will receive an annual base salary of $800,000 and an annual target bonus of 120% of earned base salary under the Company’s Executive Variable Compensation Plan. Mr. Thomson is also eligible to receive an equity award at the next annual grant cycle in 2025 and subsequent years with a target grant date fair value of $3,881,250 under the same terms and conditions as all other grant recipients. Mr. Thomson is eligible for severance benefits upon a termination without cause equal to two times the sum of his annual base salary and annual target bonus and subsidized healthcare coverage for up to 24 months following the date of termination. Mr. Thomson is also eligible for change in control payments and benefits such that if, following a change of control, the Company terminates his employment without “cause” or Mr. Thomson terminates employment for “good reason” (as defined in the Offer Letter), Mr. Thomson shall be entitled to receive termination benefits as follows: a pro-rated bonus for the year in which the termination occurs (based on the higher of Mr. Thomson’s target bonus