Company: PRI
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0000950170-25-048061
Chunk: 89

Company: Primerica, Inc.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 89
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s' employment agreement will terminate upon his retirement on April 1, 2025. |
|:--------------------------------------------------------------------------------------------------------------------|:----|:--------------------------------------------------------------------------------------------------------------|:----|:-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Annual Base Salary                                                                                                  |     | Subject to annual review and may be increased but not decreased as a result of such review                    |     | Subject to annual review and may be increased or decreased as a result of such review                                                                                                                                                                                                                  |
| Target Cash Incentive Award                                                                                         |     | 200% of annual base salary for 2015 and unspecified for future years                                          |     | Specified annually by the Compensation Committee                                                                                                                                                                                                                                                       |
| Severance Benefits for Termination Without Cause or by the Executive for Good Reason                                |     | 200% of the sum of annual base salary and target bonus                                                        |     | 100% of the sum of annual base salary and target bonus                                                                                                                                                                                                                                                 |
| Severance Benefits for Termination Without Cause or by the Executive for Good Reason Following Contract Non-Renewal |     | 200% of the sum of annual base salary and target bonus if terminated within two years of contract non-renewal |     | 100% of the sum of annual base salary and target bonus if terminated within one year of contract non-renewal                                                                                                                                                                                           |
| Severance Benefits for Termination Without Cause or by the Executive for Good Reason Following a Change of Control  |     | No separate change-of-control provision                                                                       |     | 150% of the sum of annual base salary and target bonus                                                                                                                                                                                                                                                 |
| Non-Competition Covenant                                                                                            |     | Expires 24 months after employment termination                                                                |     | Expires 18 months after employment termination                                                                                                                                                                                                                                                         |

| 86 |

| EXECUTIVE COMPENSATION |

Positions and Employment Period Pursuant to his employment agreement, Mr. G. Williams was appointed Chief Executive Officer and he has served on our Board since April 1, 2015. His employment agreement and each employment agreement for the other named executive officers other than Ms. Tan had an initial three-year term, followed by annual automatic one-year renewals unless terminated by either party within 90 days prior to the completion of the term. Ms. Tan's employment agreement has an initial term that expires on January 5, 2027 to match the auto-renewal date of the other named executive officers. Base Salary The Chief Executive Officer’s annual base salary during the period of his employment shall be no less than $750,000,