Company: ADAMM
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001273685-25-000038
Chunk: 102

Company: ADAMAS TRUST, INC.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 102
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 Employment Agreement, Mr. Mah’s ability to correct his performance pursuant to clause (iii) above is limited to situations where such failure to perform is capable of correction.

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• “Good Reason” means, unless otherwise consented to by the NEO: (i) the Company’s failure to comply with any material provision of an NEO’s respective NEO Employment Agreement which has not been cured within 30 days after the NEO notifies the Company of such failure, (ii) the assignment to the NEO of duties inconsistent with the NEO’s position with the Company or a substantial adverse alteration in the nature or status of the NEO’s responsibilities (except that, (A) a determination by the Nominating & Corporate Governance Committee not to nominate the NEO for re-election as a director of the Company, if such NEO serves as a director, or (B) a failure by the Company’s stockholders to elect the NEO as a director of the Company will not be deemed to be Good Reason), (ii) a material reduction in employee benefits other than a reduction generally applicable to similarly situated executives of the Company, (iv) relocation of the Company’s principal place of business outside of the Borough of Manhattan in New York City, or (v) the Company’s failure to pay the NEO’s annual base salary or any incentive bonus to which they are entitled under the Company’s bonus plans. With respect to the Mah Employment Agreement, Good Reason does not arise when Mr. Mah is assigned inconsistent duties under clause (ii) above. Additionally, under the Mah Employment Agreement, the Company has 30 days following receipt of notice from Mr. Mah of any condition that may give rise to Good Reason to correct such condition.

Potential Payments Upon Change in Control, Death or Disability, Termination Without Cause or Resignation for Good Reason

The following tables represent the payments due to each of Messrs. Serrano and Mah and Ms. Nario-Eng in the event of termination due to death or disability, termination without Cause or resignation for Good Reason, or a change in control, assuming such event occurred on December 31, 2024, that would have been triggered under the 2017 Stock Plan (or any predecessor or successor plan thereto), and the respective restricted stock award, RSU Agreements, PSU Agreements and employment agreements for those NEOs.

Payments Due Upon Termination Without Cause or Resignation With Good Reason (1)

| Name                  |     | Salary |   |     | Bonus |   |     | Stock     
 Awards