Red Robin adopts Executive Severance Plan with enhanced CIC severance multiples

RED ROBIN GOURMET BURGERS INC

CEO receives 3x base salary + target bonus on change-in-control termination; 2x base on non-CIC termination.
Other C-suite executives get 2x (CIC) and 1x (non-CIC) severance multipliers; other participants get 1x (CIC).
Time-based equity awards fully vest upon CIC qualifying termination; performance awards vest per actual results.
Plan replaces prior Executive Change in Control Severance Plan effective August 25, 2023.
Severance subject to signed release and restrictive covenants; benefits continuation period up to 36 months for CEO.

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