Company: BLCO
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001140361-25-013244
Chunk: 64

Company: Bausch & Lomb Corp
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 64
---
, two times the sum of his base salary and the greater of his average annual bonus for the two performance years prior to the year of his termination date and his target bonus). These severance benefits are subject to his execution and non-revocation of a release of claims against the Company. |

| (2) | If Mr. Saunders experiences a termination of employment due to his death or disability, he will be entitled to receive his earned but unpaid annual bonus for the year prior to his termination date. |

| 58 |

TABLE OF CONTENTS

| (3) | As shown above under “Termination without Cause or for Good Reason” if Mr. Saunders’ employment is terminated by the Company without Cause, due to the Company’s non-renewal of the employment term, or if he resigns for Good Reason, Mr. Saunders will be entitled to pro-rata vesting of 2024 RSU and Stock Option awards and pro-rata vesting based on actual performance of 2024 annual PSU awards (with an additional 12 months of vesting credit for any time-vesting equity awards held that have also met applicable minimum service requirements) and full vesting of the 2023 Equity Awards (with the PSUs vesting based on actual performance through the termination date and the Stock Options remaining exercisable for the remainder of their term). |

| (4) | As shown above under “Termination in connection with a Change in Control,” if Mr. Saunders’ employment is terminated by the Company without Cause, due to the Company’s non-renewal of the employment term, or if he resigns for Good Reason, Mr. Saunders will be entitled to full vesting of 2024 RSU and Stock Option awards, pro-rata vesting at target of 2024 annual PSU awards, and full vesting of OPA PSUs at the higher of target and actual revenue performance and actual rTSR performance through the termination date (and Stock Options remaining exercisable for the remainder of their applicable term) and full vesting of the 2023 Equity Awards (with the PSUs vesting based on the greater of actual performance through the termination date and target, and the Stock Options remaining exercisable for the remainder of their term). |

| (5) | As shown above under “Termination due to Death or Disability,” if Mr. Saunders experiences a termination of employment due to his death or disability, he will be entitled to full vesting of 2024 RSU and Stock Option awards,