Company: NGVT
Filing Date: 2025-03-19
Form Type: PRER14A
Source: 0001308179-25-000166
Chunk: 48

Company: Ingevity Corp
Filing Date: 2025-03-19
Form: PRER14A
Chunk 48
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 performance goals will be deemed achieved at the greater of target or actual performance levels (if actual performance is determinable 
 by the T&C Committee) with no proration.                                                                                               |     | No benefits other than outstanding base salary through the date of termination. |

The agreements also include one-year post-termination restrictive covenants in the form of non-solicitation of customers and employees and non-competition provisions. All severance payable is further subject to the NEO signing an appropriate release of claims. None of the agreements include any tax gross-ups arising from any excise tax imposed by the Code on excess parachute payments. The benefits to be received are further described under “Potential Payments Upon Certain Termination Events or a Change of Control.” Fortson agreement.As disclosed in the Form 8-K filed on October 3, 2024, following his departure from the Company, Mr. Fortson became eligible for severance compensation and benefits under the terms of his Severance Agreement dated February 17, 2022 and as described above. Mr. Fortson must adhere to confidentiality, non-competition, and non-solicitation covenants, and payment was contingent upon his execution and non-revocation of a release of claims against the Company, which was completed. A copy of the Severance Agreement was previously filed with the SEC on February 24, 2022, as Exhibit 10.50 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021. Cozad agreement.As disclosed in the Form 8-K filed on June 26, 2024, the Company entered into a Transition Agreement with Ms. Cozad in recognition of her service and to ensure a smooth handoff of her duties following her resignation. Ms. Cozad received a cash payment of $673,741, less applicable taxes and withholdings, reflecting the estimated cash value of her unvested RSUs, which she forfeited upon her resignation. In addition to the requirement that Ms. Cozad provide certain transition support to the Company, the cash payment was made contingent upon Ms. Cozad’s execution and non-revocation of a release of claims against the Company, which was completed. A copy of the Transition Agreement was previously filed with the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2024. Equity awards – Omnibus Plan The treatment of Ingevity’s equity awards in the event of a change of