Company: QLYS
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001107843-25-000038
Chunk: 143

Company: QUALYS, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part II, Item 5
Chunk 143
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. an involuntary termination of employment without “cause”), the named executive officer will receive the following benefits:

•cash severance pay equal to (i) in the case of Sumedh Thakar, 12 months of his annual base salary and 100% of his annual target bonus, or (ii) in the case of each of the other named executive officers, (A) 3 months of the named executive officer’s annual base salary, if he or she has been employed by us for less than 1 year, (B) 6 months of the named executive officer’s annual base salary, if he or she has been employed by us for at least 1 year but not more than 5 years, or (C) 9 months of the named executive officer’s annual base salary and 50% of his or her annual target bonus, if he or she has been employed by us for more than 5 years; 

•payment or reimbursement of premiums for coverage under COBRA for the named executive officer and his or her eligible dependents, if any, for up to the number of months of annual base salary that the named executive officer is entitled to receive under the previous bullet; and

•acceleration of equity awards equal to (i) in the case of Mr. Thakar, 12 months for time-based equity and performance-based equity pro-rated based on both actual achievement (capped at 100%) and time served during the year, or (ii) in the case of each of the other named executive officers, 6 months for time-based equity and performance-based equity pro-rated based on both actual achievement (capped at 100%) and time served during the year if he or she has been employed by us for more than 5 years.

In the event of a qualifying termination of the employment of a named executive officer in connection with a change in control of the Company (i.e. a termination without “cause,” for death or disability, or a resignation for “good reason,” in each case, during the period 3 months before and (i) in the case of Mr. Thakar, 18 months following a change in control, and (ii) in the case of each of the other named executive officers, 12 months following a change in control), the named executive officer will receive the following benefits:

•severance pay equal to 100% (or in Mr. Thakar’s case, 150%) of the named executive officer’s annual base salary