Company: PACB
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001299130-25-000090
Chunk: 99

Company: PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 99
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4) for each of the NEOs, the Company’s failure to obtain the assumption of the change in control and severance agreement by a successor; except that, in order for an event to qualify as good reason, he or she must not terminate employment without first providing the Company with written notice of the acts or omissions constituting the grounds for good reason within 90 days of the initial existence of the grounds for good reason and a reasonable cure period of not less than 30 days following the date of such notice.

Mr. Eidel received severance benefits in connection with his separation of employment in November 2024 as disclosed in a current report on Form 8-K dated December 13, 2024. Pursuant to a separation agreement entered into with the Company, which became effective on December 13, 2024, Mr. Eidel became entitled to: (1) a lump of sum of $485,000 (less applicable withholding), which is equivalent to 12 months of his then-current base salary, and (2) Company-paid or Company-reimbursed premiums for continuation coverage as applicable, pursuant to COBRA for Mr. Eidel and his dependents (as applicable), for up to 12 months following the separation.

Ms. Kim did not receive any severance in connection with her voluntary resignation in December 2024.

#### Equity Incentive Plans
As of December 31, 2024, each of our NEOs held equity awards granted under the Company’s 2020 Plan, and each of Mr. Van Oene and Mr. Eidel held equity awards granted under the Company’s Inducement Plan. Such plans provide that, in the event of a merger or change in control (as defined in such plan) of the Company, if the successor corporation does not assume or substitute for outstanding awards under such plan, the awards will fully vest (and with respect to options and stock appreciation rights, become exercisable) and with respect to awards with performance-based vesting, all performance goals or other vesting criteria will be deemed achieved at 100 percent of the target levels and all other terms and conditions met. In addition, if options and stock appreciation rights are not assumed or substituted in the event of the Company’s change in control, the administrator of such plan will notify the award holders that such awards will be exercisable for a period of time determined by such plan’s administrator and terminate upon expiration of such period. The following table describes the potential payments and benefits to each of our NEO