Company: BLCO
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001140361-25-013244
Chunk: 65

Company: Bausch & Lomb Corp
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 65
---
 pro-rata vesting based on actual performance of 2024 annual PSU awards, pro-rata vesting of OPA PSUs at actual performance through the termination date and full vesting of the 2023 Equity Awards (with the PSUs vesting based on actual performance through his termination date and the Stock Options remaining exercisable for the remainder of their term). |

| (6) | As shown above under “Termination without Cause or for Good Reason” and “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 receive up to 24 months of COBRA continuation coverage. He is also entitled to receive two additional years of age or service credit under Company retirement plans, subject to the terms of such plan or program. |

| (7) | As shown above under “Termination without Cause or for Good Reason,” the severance benefits payable to Mr. Eldessouky and Dr. Hashad provide that, in the event of an involuntary termination of employment by the Company without “cause” or resignation for “good reason” (as defined in their respective employment agreements), then they will be eligible to receive a cash severance payment equal to one times the sum of their annual base salary and annual target incentive award, plus payment of an annual cash bonus award for the year of termination (based on the lesser of actual achievement of applicable performance goals and target bonus, prorated based on the number of days employed during the year). As shown above under “Termination in connection with a Change in Control,” if Mr. Eldessouky and Dr. Hashad are terminated without cause, or for good reason, in contemplation of a change in control or within 12 months following a change in control, they will receive a cash severance payment equal to two times the sum of annual base salary and annual target incentive award, plus payment of an annual cash bonus award for the year of termination (based on target achievement and prorated based on the number of days employed during the year). As shown above under “Termination without Cause or for Good Reason” and “Termination in connection with a Change in Control,” for Mr. Eldessouky, he would also receive a cash payment equal to the remaining 50% of the Company’s separation bonus upon a “qualifying termination.” |

|