Company: SNPS
Filing Date: 2025-02-14
Form Type: DEF 14A
Source: 0000883241-25-000008
Chunk: 104

Company: SYNOPSYS INC
Filing Date: 2025-02-14
Form: DEF 14A
Chunk 104
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 assignment and arbitration agreements with Synopsys.

Messrs. Mahoney and Runkel and Ms. Glaser participate in the Executive Change of Control Severance Benefit Plan, which provides for benefits if the executive’s employment with us is terminated without cause within 30 days before or 12 months after a change of control or there is a constructive termination of the executive’s employment within 12 months after a change of control. The benefits consist of: (1) a cash severance payment equal to one times salary, payable in four equal quarterly payments; (2) one to two times the executive’s target cash incentive payment, depending upon the timing of the termination within our fiscal year, payable in four equal quarterly payments; (3) a lump-sum cash payment equal to the estimated cost of health care premiums for 12 months; and (4) full acceleration of all unvested equity awards held by the executive at the time of termination (with any such awards subject to performance conditions vesting at target levels). An executive must sign a severance agreement and a release and, upon the written request of Synopsys or the surviving corporation in the change of control, enter into an 18-month non-competition agreement to receive such benefits. The plan does not provide any benefits if the executive’s employment termination is on account of death or disability, for cause or is a voluntary termination without good reason.

The table below outlines the potential payments and benefits payable to each NEO in the event of the NEO’s involuntary termination (including a resignation for good reason or a constructive termination, as applicable) in connection with a change in control of Synopsys, as if the involuntary termination in connection with a change of control had occurred as of November 2, 2024, the last day of fiscal 2024. The payments set forth below are payable to: (1) Dr. de Geus and Mr. Ghazi pursuant to their respective 2024 Employment Agreements; and (2) Ms. Glaser, Mr. Mahoney and Mr. Runkel, in their capacity as executive officers, pursuant to the Executive Change of Control Severance Benefit Plan.

| Name                |     |           | Salary-Based Severance ($) |              |   | Cash-Based          
 Incentive Award ($) |     |        | Health and  
 Welfare     
 Benefit ($) | Intrinsic Value of 
 Unvested RSU       
 Awards ($)(1)      |            |     | Intrinsic Value of 
 Unvested Option    
 Awards ($)(1)