Company: BLND
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001855747-25-000017
Chunk: 94

Company: Blend Labs, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 9B
Chunk 94
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as defined in the Letter Agreement) and other than by reason of the Executive’s death or Disability (as defined in the Letter Agreement), the Executive will receive a lump sum payment equal to: (i) six months of the Executive’s base salary in effect immediately prior to the Executive’s termination and (ii) an amount representing Company-paid COBRA for Executive and Executive’s covered dependents for a period of six months following the termination (together, the “Severance Benefits”). Receipt of the Severance Benefits is conditioned on the Executive satisfying any conditions to receipt of severance set forth in the Letter Agreement, including the Executive timely signing and not revoking the Company’s then-standard separation agreement and release of claims. In the event that any payments or benefits payable to the Executive (including the Severance Benefits) constitute “parachute payments” under Section 280G of the U.S. tax code and would be subject to the applicable excise tax, then such payments or benefits will be either (i) delivered in full or (ii) delivered to such lesser extent which would result in no portion of such payments or benefits being subject to the excise tax, whichever results in the receipt by the Executive on an after-tax basis of the greatest amount of payments or benefits. The foregoing is a summary of the material terms of the Letter Agreement and is qualified in its entirety by reference to the complete text of the Letter Agreement, a copy of which will be included as an exhibit to the this Annual Report on Form 10-K.