Company: AFRM
Filing Date: 2025-10-24
Form Type: DEF 14A
Source: 0001628280-25-046264
Chunk: 46

Company: Affirm Holdings, Inc.
Filing Date: 2025-10-24
Form: DEF 14A
Chunk 46
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 in the event of the death of the named executive officer, his or her designated beneficiary or the legal representative of his or her estate) to receive:

• a pro-rata cash incentive plan award under our annual cash incentive plan determined based on the target or actual performance level, whichever is higher, in accordance with the terms of that plan;

• payment or reimbursement of the cost of post-termination continued health benefits for the named executive officer and his or her dependents (or, in the event of the death of the named executive officer, only for his or her dependents) for a period of up to 12 months; and

• twelve months of acceleration of vesting of all of the then-unvested shares subject to each of the named executive officer’s then-outstanding equity awards, with the vesting acceleration of performance-based equity awards determined assuming a target level of performance during the performance period.

Summary of Terms of Officer Severance Plan

In order to receive severance payments and benefits under the officer severance plan, a participant must timely execute and not revoke a release of claims in favor of the Company. In addition, the officer severance plan provides that, if any payment or benefits to a participant, including the payments and benefits under the officer severance plan, would constitute an “excess parachute payment” within the meaning of Section 280G of the Code and would therefore be subject to an excise tax under Section 4999 of the Code, then such payments and benefits (1) will be reduced to the extent necessary so that no amount is subject to the excise tax, or (2) not reduced, whichever, after taking into account all applicable federal, state, and local employment and income taxes and the excise tax, results in the participant’s receipt, on an after-tax basis, of the greater payments and benefits.

Under the officer severance plan, “cause” means any of the following reasons (with any references to us interpreted to include any subsidiary or affiliate of ours):

• willful conduct by the participant constituting a material act of misconduct in connection with the performance of the participant’s duties, including, without limitation, misappropriation of funds or property of us or any of its subsidiaries or affiliates other than the occasional, customary, and de minimis use of our property for personal purposes;

• the conviction of, or plea of guilty or no contest to, any felony or any crime involving moral turpitude, deceit, dishonesty, or fraud, or any conduct by the participant that would