Company: AEHR
Filing Date: 2025-09-10
Form Type: DEF 14A
Source: 0001654954-25-010620
Chunk: 54

Company: AEHR TEST SYSTEMS
Filing Date: 2025-09-10
Form: DEF 14A
Chunk 54
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. Erickson), 18 months (for Mr. Siu) or 12 months (for Mr. Engineer) after a change in control of the Company. Payments and benefits under each Severance Agreement are contingent on the applicable executive timely providing us with (and not revoking) a general release of claims.

If Mr. Erickson, Mr. Siu or Mr. Engineer undergoes a qualifying termination of employment during a change in control period, the executive will be eligible for the following:

| · | a cash payment equal to 24 months (for Mr. Erickson), 18 months (for Mr. Siu) or 12 months (for Mr. Engineer) of the executive’s annual base salary;                                                                                                                         |
| · | a cash payment equal to 200% (for Mr. Erickson), 150% (for Mr. Siu) or 100% (for Mr. Engineer) of the executive’s target annual cash incentive opportunity for the year in which the employment termination occurs;                                                          |
| · | a cash payment equal to the prorated amount of the executive’s target annual cash incentive opportunity for the fiscal year in which the employment termination occurs, determined by the portion of the fiscal year during which the executive was employed by the Company; |

| 40 |

| · | acceleration of vesting of all of the executive’s then unvested outstanding equity awards that vest solely based on continued service over time, and with respect to equity awards that vest based on the attainment of performance-based conditions that remain unsatisfied as of immediately before the employment termination, such performance-based conditions shall be deemed achieved at the greater of target or the expected attainment level based on performance as of the employment termination date, as determined by the Board or the Compensation Committee; and; |
| · | up to 24 months (for Mr. Erickson), 18 months (for Mr. Siu) or 12 months (for Mr. Engineer) of continued healthcare coverage paid by the Company.                                                                                                                                                                                                                                                                                                                                                                                                                                 |

If Mr. Erickson, Mr. Siu or Mr. Engineer undergoes a qualifying termination of employment outside of a change in control period, the executive will be eligible to receive the following:

| · | a cash payment equal to 12 months (for Mr. Erickson), nine months (for Mr. Siu) or six months (for Mr. Engineer) of the executive’s annual base salary;                                                                                                                      |
| · | a cash payment equal to the prorated amount of