Company: ATRA
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0000950170-25-059322
Chunk: 63

Company: Atara Biotherapeutics, Inc.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 63
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 timely election for continued coverage under COBRA, payment by us of his COBRA premiums for up to 12 months following his termination of employment or (b) if Mr. Hyllengren is not entitled to COBRA continuation coverage or if we determine that we cannot pay his COBRA premiums without potentially incurring financial costs or penalties under applicable law, payment by us to Mr. Hyllengren of a fully taxable cash payment equal to the applicable COBRA premiums on the first of each month for up to 12 months following his termination of employment.

In the event Mr. Hyllengren’s employment had been terminated by us without cause (other than as a result of his death or disability) or as a result of a resignation for good reason, in either case, during the change in control period, he would have been entitled to receive the following payments and benefits:

Severance pay in the form of a lump sum payment equal to 12 months of his final annual base salary following termination;

Either (a) subject to Mr. Hyllengren’s timely election for continued coverage under COBRA, payment by us of his COBRA premiums for up to 12 months following his termination of employment or (b) if Mr. Hyllengren is not entitled to COBRA continuation coverage or if we determine that we cannot pay his COBRA premiums without potentially incurring financial costs or penalties under applicable law, payment by us to Mr. Hyllengren of a fully taxable cash payment equal to the applicable COBRA premiums on the first of each month for up to 12 months following his termination of employment;

Lump sum amount equal to 100% of his target annual bonus for the year in which the termination date occurs; and

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Full acceleration and immediate exercisability, if applicable, of all outstanding equity awards subject to time-based vesting conditions.

The receipt of any termination-based payments or benefits by Mr. Hyllengren was subject to his execution and the effectiveness of a release of claims against the Company.

Pursuant to the Hyllengren Employment Agreement, if any payments or benefits provided to Mr. Hyllengren in connection with a change in control are subject to excise taxes as a result of the application of Sections 280G and 4999 of the Internal Revenue Code, such payments and benefits will be reduced so that no excise tax is payable, but only if this reduction results in