Tiffany Meriweather
October 20, 2021
Page 4
(d) Equity Acceleration. The Company shall accelerate the vesting of any then-unvested options and RSUs granted under the 2014 Plan such that one hundred percent (100%) of such options and RSUs shall be deemed vested and the options shall be exercisable as of your Separation from Service date (the “Accelerated Vesting”).
(e) Separate Severance Plan. In the event the Company adopts a formal Severance Plan for which you are eligible to participate, you will be eligible to participate in such formal Severance Plan if the severance benefits offered under such Severance Plan are more favorable to you than the Severance Benefits provided pursuant to this Agreement. For the avoidance of doubt, in the event the severance benefits under a formal Severance Plan for which you are eligible to participate are more beneficial to you than the Severance Benefits provided herein, you will not be eligible for the Severance Benefits set forth herein and will only be eligible for severance benefits pursuant to the formal Severance Plan.
9. Clawback and Recovery. Any and all Severance Benefits and Accelerated Vesting provided under this Agreement will be subject to recoupment in accordance with any clawback policy that the Company is required to adopt pursuant to the listing standards of any national securities exchange or association on which the Company’s securities are listed or as is otherwise required by the Dodd-Frank Wall Street Reform and Consumer Protection Act or other applicable law. In addition, the Board may impose such other clawback, recovery or recoupment provisions as the Board determines necessary or appropriate, including but not limited to a reacquisition right in respect of previously acquired shares of common stock of the Company or other cash or property upon the occurrence of a termination of employment for Cause.
10. Resignation Without Good Reason; Termination for Cause; Death or Disability. If, at any time, you resign your employment without Good Reason, or the Company terminates your employment for Cause, or if either party terminates your employment as a result of your death or Disability, you will receive your base salary accrued through your last day of employment, as well as any unused vacation (if applicable) accrued through your last day of employment. In the event your employment is terminated due to your death or Disability, then in addition to the payments noted in the preceding sentence, subject to the satisfaction of the Conditions (by you or your estate, as applicable), all then-unvested stock options and RSUs granted under the 2014 Plan and the PubCo Equity Incentive Plan will be accelerated and will be fully vested and the options will be exercisable. Further, you (or your designee) will also receive any unpaid bonus from the prior year, if any. You will not be entitled to any other form of compensation from the Company, including any Severance Benefits or Accelerated Vesting, other than your rights to the vested portion of your Company stock options and any other rights to which you are entitled under the Company’s benefit programs.
11. Conditions to Receipt of Severance Benefits and Accelerated Vesting. Prior to and as a condition to your receipt of the Severance Benefits or Accelerated Vesting, you shall execute and deliver to the Company an effective release of claims in favor of and in a form acceptable to the Company (the “Release”) within the timeframe set forth therein, but not later than forty-five (45) days following your Separation from Service date, and allow the Release to become effective according to its terms (by not invoking any legal right to revoke it) within any applicable time period set forth therein (such latest permitted effective date, the “Release Deadline”).
12. Return of Company Property. Upon the termination of your employment for any reason, as a precondition to your receipt of the Severance Benefits or Accelerated Vesting (if applicable), within five (5) business days after your Separation from Service Date (or earlier if requested by the Company), you must return to the Company all Company documents (and all copies thereof) and other Company property in your possession, custody or control, including, but not limited to, Company files, notes, financial and operational information, password and account information, customer lists and contact information, prospect information, product and services information, research and development information, drawings, records, plans, forecasts, pipeline reports, sales reports or other reports, payroll information, spreadsheets, studies, analyses, compilations of data, proposals, agreements, sales and marketing information, personnel information, specifications, code, software, databases, computer-recorded information, tangible property and equipment (including, but not limited to, computers,