Company: MYGN
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0000899923-25-000028
Chunk: 61

Company: MYRIAD GENETICS INC
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 61
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 Executive Officer is excused from all meetings, and is not present, where decisions pertaining to his compensation are discussed, determined and approved by the CHCC.

Termination and Change-of-Control-Based Compensation

To address the possibility of a change of control of the Company, or an abrupt termination for business necessity, and the potential that the uncertainty and questions such possibility may raise among key personnel could result in the departure or distraction of key personnel to the detriment of us and our stockholders, we entered into a Severance and Change of Control Agreement with each of our executive officers, other than Mr. Diaz, our Chief Executive Officer until April 30, 2025, whose arrangements with respect to severance and change of control of the Company are addressed in his employment agreement with us. The terms of the Severance and Change of Control Agreements include:

• The change in ownership threshold required to constitute a change of control is 50%;

• Double-trigger vesting ( i.e. , change of control and termination required for accelerated vesting and cash severance benefits);

• Change of control severance payments of 1X salary and bonus (except, in the case of Mr. Raha, 1.5X salary and bonus);

• Benefit (COBRA) payments for a maximum of 12 months (except, in the case of Mr. Raha, 18 months); and

• Severance payments (1X salary and bonus) (except, in the case of Mr. Raha, 1.5X salary and bonus) and equity acceleration (two years of vesting) upon a termination without "Cause" or for "Good Reason" not in connection with a change of control.

In connection with Mr. Raha's appointment as our Chief Executive Officer, effective April 30, 2025, we entered into a new Severance and Change of Control Agreement with Mr. Raha containing the terms noted above, except that Mr. Raha would be entitled to a severance payment of 2.0X salary and bonus and a change of control severance payment of 2.0X salary and bonus. Mr. Raha's new Severance and Change of Control Agreement becomes effective upon his appointment as our Chief Executive Officer on April 30, 2025.

We believe that the terms of our Severance and Change of Control Agreements are consistent with those maintained by others in our industry and therefore are important for attracting and retaining key executive officers who are critical to our long-term success. The