Severance Policy Sample Contracts

MyoKardia Inc – change in control and SEVERANCE Policy Adopted on october 17, 2015 (Amended on october 24, 2018) (AMENDED ON fEBRUARY 22, 2019) (February 28th, 2019)

In the event a senior management employee of the Company experiences an Involuntary Termination (as defined below), including a Sale Event Termination (as defined below), such senior management employee shall be entitled to receive either the Involuntary Termination Benefits (as defined below) or the Sale Event Termination Benefits (as defined below), as applicable, subject, in either case, to each such employee’s execution and non-revocation of a severance agreement within 60 days following the date of such termination, including a general release of claims acceptable to the Company or its successor or acquirer.

PERRIGO Co Plc – PERRIGO COMPANY PLC CHANGE IN CONTROL SEVERANCE POLICY FOR U.S. EMPLOYEES (February 27th, 2019)

Perrigo Company plc (the “Company”) established the Perrigo Company plc Change in Control Severance Policy for U.S. Employees (the “Policy”) effective June 22, 2015, for the benefit of certain “Eligible Employees” of the Company and certain specified Affiliates, and amended and restated the Policy effective November 12, 2015, June 14, 2106 and February 6, 2017. Effective February 13, 2019, the Policy is being amended and restated in its entirety as set forth herein.

Chemed Corp – CHEMED CORPORATION SENIOR EXECUTIVE SEVERANCE POLICY AS AMENDED AUGUST 3, 2018 (February 27th, 2019)

As of December 1, 2006, Chemed Corporation established the Chemed Corporation Senior Executive Severance Policy (“the Policy”).  As of August 3, 2018 (the "Amendment Date"), the Company amended the Policy to provide that the tax gross-up provisions in Section 3.1 shall apply only to those individuals who were Participants in the Policy on the Amendment Date and not to anyone designated as a Participant following the Amendment Date.

PERRIGO Co Plc – PERRIGO COMPANY PLC EXECUTIVE COMMITTEE SEVERANCE POLICY (February 27th, 2019)

Perrigo Company plc (the “Company”) hereby establishes the Perrigo Company plc Executive Committee Severance Policy (the “Policy”) effective June 14, 2017, for the benefit of certain “Eligible Employees” of the Company and its Affiliates, and as amended on October 8, 2019. The Policy is amended and restated in its entirety effective February 13, 2019. Unless earlier terminated by the Company, the Policy will terminate at the end of the “CEO Transition Period.”

EVERTEC, Inc. – EVERTEC Group, LLC Executive Severance Policy (February 26th, 2019)
Pitney Bowes Inc /De/ – PITNEY BOWES SENIOR EXECUTIVE SEVERANCE POLICY (February 20th, 2019)
GoPro, Inc. – EXECUTIVE SEVERANCE POLICY Effective as of February 13, 2019 (the “Effective Date”) (February 15th, 2019)
Trupanion, Inc. – On-Going Severance Policy for CEO and Key Senior Leaders (February 14th, 2019)

This Severance Policy creates a fair framework for situations when a covered executive leaves the Company involuntarily (termination without cause). The roles that this policy covers are included in the Appendix A and may change from time to time.

Stein Mart Inc – STEIN MART, INC. SEVERANCE POLICY Effective January 22, 2019 (January 28th, 2019)
Welbilt, Inc. – WELBILT, INC. EXECUTIVE SEVERANCE POLICY (December 17th, 2018)
Halozyme Therapeutics Inc – HALOZYME THERAPEUTICS, INC. SEVERANCE POLICY (December 13th, 2018)

Under the Severance Policy of Halozyme Therapeutics, Inc. (the “Company”), the particular amount of cash severance for an employee terminated by the Company without cause will generally be dictated by the employee’s position in the organization as well their completed years of service with the Company. The Severance Policy is applicable to members of senior management in the following respects: (i) the cash severance for the Chief Executive Officer (the “CEO”) will be equal to 18 months of the CEO’s then-current annual base salary and a bonus paid at target and pro-rated based upon the length of employment during the year of separation; (ii) the cash severance for certain other senior officers as designated by the Compensation Committee of the Board of Directors (the “Compensation Committee”) will be equal to the senior officer’s then-current annual base salary and a bonus paid at target and pro-rated based upon the length of employment during the year of separation; and (iii) the cash

Alaska Communications Systems Group Inc – Alaska Communications 2016 Officer Severance Policy P/P 250.0 (November 29th, 2018)
8x8 Inc /De/ – 8X8, INC. 2017 EXECUTIVE CHANGE-IN-CONTROL AND SEVERANCE POLICY (As Amended and Restated effective January 31, 2019) (November 8th, 2018)
Halozyme Therapeutics Inc – HALOZYME THERAPEUTICS, INC. SEVERANCE POLICY (November 6th, 2018)

Under the Severance Policy of Halozyme Therapeutics, Inc. (the “Company”), the particular amount of cash severance for an employee terminated by the Company without cause will generally be dictated by the employee’s position in the organization as well their completed years of service with the Company. The Severance Policy is applicable to members of senior management in the following respects: (i) the cash severance for the Chief Executive Officer (the “CEO”) will be equal to the CEO’s then-current annual base salary; (ii) the cash severance for certain other senior officers as designated by the Compensation Committee of the Board of Directors (the “Compensation Committee”) will be equal to one half of the then-current annual base salary for such officers; and (iii) the cash severance for certain other officers as designated by the Compensation Committee will initially be equal to sixteen weeks of the then-current annual base salary for such employee, provided that the employee will

Humana Inc – HUMANA INC. EXECUTIVE SEVERANCE POLICY (August 20th, 2018)

This Humana Inc. Executive Severance Policy has been adopted by the Organization & Compensation Committee (the “Committee”) of the Board of Directors of the Company to apply to selected executive employees of the Company. Executives will be eligible for coverage under the Policy for the payment of severance benefits upon termination of employment under certain circumstances, subject to the conditions set forth below. This Policy shall be effective as of the Effective Date as provided herein.

Ca, Inc. – CA, INC. CHANGE IN CONTROL SEVERANCE POLICY (AMENDED AND RESTATED EFFECTIVE AUGUST 5, 2015, AND FURTHER AMENDED ON AUGUST 8, 2018) (August 10th, 2018)
Federal Home Loan Bank of Topeka – EXECUTIVE OFFICER SEVERANCE POLICY (August 1st, 2018)

This FHLBank Policy, governed by the board of directors (board), establishes the process for providing severance benefits to Executive Incentive Compensation Plan participants (Executive Officers).

Allakos Inc. – Allakos Inc. Change in Control and Severance Policy (July 9th, 2018)

This Change in Control and Severance Policy (the “Policy”) is designed to provide certain protections to a select group of key employees of Allakos Inc. (“Allakos” or the “Company”) or any of its subsidiaries if their employment is involuntary terminated under the circumstances described in this Policy. The Policy is designed to be an “employee welfare benefit plan” (as defined in Section 3(1) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”)), and this document is both the formal plan document and the required summary plan description for the Policy.

8x8 Inc /De/ – 8X8, INC. EXECUTIVE CHANGE-IN-CONTROL AND SEVERANCE POLICY (Amended and Restated Effective as of October 1, 2017) (May 30th, 2018)
8x8 Inc /De/ – 8X8, INC. 2017 EXECUTIVE CHANGE-IN-CONTROL AND SEVERANCE POLICY (effective as of October 1, 2017) (May 30th, 2018)
ElectroCore, LLC – electroCore, Inc. Executive Severance Policy (May 21st, 2018)

This Policy is intended to be an unfunded employee benefit plan maintained for a select group of management or highly compensated employees for purposes of the Employee Retirement Income Security Act of 1974, as amended. All previous existing pay plans, programs, agreements and practices that provide for the payment of severance benefits, whether formal or informal (each a “Prior Severance Plan”), are hereby revoked and terminated for any Participant (as defined below). This document applies to Participants who incur an Involuntary Termination of Employment on and after of the Effective Date of this Policy. The payment of severance benefits, if any, payable to any executive who incurred a Termination of Employment prior to the Effective Date of this Policy shall be determined in accordance with the terms of the Prior Severance Plan, applicable to such individual at the time of his Termination of Employment.

Ca, Inc. – CA, Inc. Change in Control Severance Policy (Amended and Restated as of August 5, 2015) (Schedule as of May 9, 2018)* Schedule A (May 9th, 2018)

* This Schedule reflects current participation by the Company’s Named Executive Officers of the Company as of the date of filing of this Exhibit.

Owens & Minor Inc/Va/ – Owens & Minor, Inc. Officer Severance Policy (May 9th, 2018)
Nu Skin Enterprises Inc – NU SKIN ENTERPRISES, INC. EXECUTIVE SEVERANCE POLICY (March 14th, 2018)

This Nu Skin Enterprises, Inc. Executive Severance Policy has been adopted by the Executive Compensation Committee ("Committee") of the Board of Directors of the Company to apply to selected Executives of the Company. Eligible Executives will be eligible for coverage under the Policy for the payment of severance benefits upon termination of employment under certain circumstances, subject to the conditions set forth below. This Policy shall be effective as of the Effective Date as provided herein.

Federal Home Loan Bank of Indianapolis – SEVERANCE POLICY (March 9th, 2018)
Federal Home Loan Bank of Pittsburgh – SEVERANCE POLICY The Bank provides payment of severance benefits to eligible employees upon involuntary termination of employment. Eligibility (March 8th, 2018)

Employees involuntarily terminated from employment as described in the definition of Eligibility Employee set forth below.

International Flavors & Fragrances Inc – INTERNATIONAL FLAVORS & FRAGRANCES INC. Amended and Restated Executive Severance Policy (As amended through and including November 1, 2017) (February 27th, 2018)
Aimco Properties L.P. – APARTMENT INVESTMENT AND MANAGEMENT COMPANY EXECUTIVE SEVERANCE POLICY Effective February 22, 2018 (February 26th, 2018)
Andersons, Inc. – Change in Control and Severance Policy Amended and Restated Effective January 1, 2017 (February 26th, 2018)
3d Systems Corp – 3D Systems Corporation Senior Management Change of Control Severance Policy (February 23rd, 2018)

This Policy covers severance benefits payable only in case of a Qualifying Termination. If an Eligible Employee is party to an employment, change of control, severance or other similar agreement with the Company that provides for severance benefits (an “Other Agreement”) or is eligible for certain statutory or other mandatory severance benefits in the jurisdiction where the Eligible Employee is employed (“Statutory Severance”), then (i) any severance benefits under any such Other Agreements or as Statutory Severance that is triggered by a termination of employment that is not a Qualifying Termination shall continue to apply in accordance with the applicable terms, and (ii) if severance benefits are payable under both this Policy and any Other Agreement or as Statutory Severance, in order to avoid duplication of severance benefits, the Eligible Employee shall be eligible to receive severance benefits under whichever arrangement provides the greatest severance benefits, but not both, as

Pitney Bowes Inc /De/ – PITNEY BOWES SENIOR EXECUTIVE SEVERANCE POLICY (February 22nd, 2018)
Zscaler, Inc. – ZSCALER, INC. Change of Control and Severance Policy (February 16th, 2018)

This Change of Control and Severance Policy (the “Policy”) is designed to provide certain protections to a select group of key employees of Zscaler, Inc. (“Zscaler” or the “Company”) or any of its subsidiaries in connection with a change of control of Zscaler or in connection with the involuntary termination of their employment under the circumstances described in this Policy. The Policy is designed to be an “employee welfare benefit plan” (as defined in Section 3(1) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”)), and this document is both the formal plan document and the required summary plan description for the Policy.

SYNAPTICS Inc – SYNAPTICS INCORPORATED SEVERANCE POLICY FOR PRINCIPAL EXECUTIVE OFFICERS (February 8th, 2018)
SYNAPTICS Inc – SYNAPTICS INCORPORATED CHANGE OF CONTROL SEVERANCE POLICY FOR PRINCIPAL EXECUTIVE OFFICERS (February 8th, 2018)
Aecom – AECOM TECHNOLOGY CORPORATION CHANGE IN CONTROL SEVERANCE POLICY FOR KEY EXECUTIVES (February 7th, 2018)