Company: ATRA
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0000950170-25-059322
Chunk: 62

Company: Atara Biotherapeutics, Inc.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 62
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 month for up to 12 months following his termination of employment;

Lump sum amount equal to 100% of his target annual bonus for the year in which the termination date occurs; and

Full acceleration and immediate exercisability, if applicable, of all outstanding equity awards subject to time-based vesting conditions.

The receipt of any termination-based payments or benefits by Dr. Nguyen is subject to his execution and the effectiveness of a release of claims against the Company.

Pursuant to the Nguyen Employment Agreement, if any payments or benefits provided to Dr. Nguyen in connection with a change in control are subject to excise taxes as a result of the application of Sections 280G and 4999 of the Internal Revenue Code, such payments and benefits will be reduced so that no excise tax is payable, but only if this reduction results in a more favorable after-tax position for him.

Eric Hyllengren

We entered into an executive employment agreement with Mr. Hyllengren in April 2023 in connection with his promotion to Senior Vice President, Chief Financial Officer (the “Hyllengren Employment Agreement”). Mr. Hyllengren was promoted to Executive Vice President, Chief Financial Officer in December 2023, and then to Executive Vice President, Chief Financial Officer and Chief Operating Officer in September 2024. In March 2025, Mr. Hyllengren left the Company and we entered into a Separation and Consulting Agreement (the “Hyllengren Separation Agreement”) which superseded and replaced the Hyllengren Employment Agreement, and pursuant to which he will provide consulting services to the Company from March 31, 2025 through July 31, 2025 at an hourly rate and receive severance payments and benefits consistent with a termination of employment without cause under the Hyllengren Employment Agreement. The Hyllengren Separation Agreement also provided for (i) Mr. Hyllengren to relinquish to the Company all of Mr. Hyllengren’s vested and unvested stock option awards and (ii) continued vesting during the consulting term of Mr. Hyllengren’s outstanding RSU awards.

As a result of his departure, Mr. Hyllengren will receive the following benefits, based on a termination without cause under the Hyllengren Employment Agreement:

Severance pay in the form of the continuation of his final annual base salary for 12 months following termination; and

Either (a) subject to Mr. Hyllengren’s