Company: BWNB
Filing Date: 2025-04-11
Form Type: PRE 14A
Source: 0001104659-25-034242
Chunk: 60

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-04-11
Form: PRE 14A
Chunk 60
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 for Mr. Young’s employment with the Company as our CEO. The Employment Agreement includes the following compensation and benefits for Mr. Young while he serves the Company in that position: • Mr. Young will be entitled to an annual base salary of $800,000, which may be increased (but not decreased) by the Board (or a committee thereof) from time to time. • Mr. Young will be entitled to an annual incentive bonus opportunity based on the achievement of performance criteria to be established by the Board (or a committee thereof) and other factors deemed relevant to the Board (or a committee thereof). Mr. Young’s annual target bonus opportunity will be 100% of his base salary for the corresponding year. 41

TABLE OF CONTENTS • Any Company equity-based awards for Mr. Young will be determined by the Board (or a committee thereof) in its sole discretion. • Mr. Young will be entitled to participate in the Company’s employee benefit plans and arrangements generally made available to the Company’s other senior executives. Mr. Young will also be reimbursed for reasonable air fare between the state of his principal residence and the Company’s headquarters in Akron, Ohio and for the reasonable cost of hotel stay while working in the Company’s offices. The term of Mr. Young’s employment with the Company under the Employment Agreement wis for an initial five-year term through December 1, 2029, with automatic one-year renewals unless one party has provided the other party with at least 90 days’ advance notice of non-renewal of the term and subject to earlier termination of employment by either the Company or Mr. Young. The Employment Agreement provides that, should Mr. Young’s term of service as a member of the Board end during the term of the Employment Agreement, the Company will nominate Mr. Young for re-election as a member of the Board in connection with the expiring term (provided that Mr. Young is able and willing to continue to serve in such capacity and subject to applicable laws). We were a party to an executive employment agreement with Mr. Salamone dated November 19, 2018. The agreement had an initial term of two years and provided for an automatic extension of the term each year by one additional year unless either party had given at least 90-days advance notice. The agreement provided that Mr. Salamone would serve as the Company’s CFO and would receive an annual base salary of not less than $475,000. Mr. Salamone was also entitled to participate in our annual bonus program