Company: STAA
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0000950170-25-058174
Chunk: 46

Company: STAAR SURGICAL CO
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 46
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| 2025 Proxy Statement | – 34 – |

#### –Compensation Discussion and Analysis–
Executive Severance Agreements

STAAR has entered into executive severance agreements with certain executive officers and other key employees, including Messrs. Williams, Foust, Sisitsky and Dr. Michna, that provide cash and other severance benefits if the executive’s employment is terminated without cause or the executive resigns for good reason (except in connection with a change in control of STAAR). The Executive Severance Agreements provide for different levels of benefits depending on whether the executive is a Vice President, Senior Vice President, or C-level executive. During 2024, each of Messrs. Williams and Foust and Dr. Michna were C-level employees and were eligible to receive 12 months of benefits. During 2024, Mr. Sisitsky was a Senior Vice President and eligible to receive nine months of benefits. The Executive Severance Agreements provide that our named executive officers will be eligible to receive the following, subject to the execution of a release of claims:

a payment equal to such named executive officer’s base salary for 12 months (Messrs. Williams, Foust and Dr. Michna) or nine months (Mr. Sisitsky) at the rate applicable at the time of termination, payable in a lump sum;

continuation of group health and dental benefits for 12 months (Messrs. Foust and Wiliams and Dr. Michna) or nine months (Mr. Sisitsky) at no greater cost to the executive than the cost in effect prior to the termination date.

In the context of the Executive Change in Control Agreements and Executive Severance Agreements, resignation “for good reason” generally means that an employer has adversely changed the officer’s salary, location or other terms and conditions of employment to such a degree that the executive is entitled to voluntarily resign and to receive severance benefits.

As noted above, in March 2025, Deborah Andrews was appointed to the role of Interim Chief Financial Officer to succeed Mr. Williams, and STAAR announced that it would be initiating a search for a permanent Chief Financial Officer. In March 2025, Mr. Williams agreed to step down at the request of the Board from his position as Chief Financial Officer. We entered into a separation agreement and general release with Mr. Williams pursuant to which he will receive the severance benefits provided in the his Executive Severance Agreement. In addition, Mr. Williams