Company: NET
Filing Date: 2025-04-21
Form Type: DEF 14A
Source: 0001477333-25-000065
Chunk: 71

Company: Cloudflare, Inc.
Filing Date: 2025-04-21
Form: DEF 14A
Chunk 71
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 than due to death or disability, the named executive officer will receive:

• a lump sum payment equal to six months of base salary; and

• a lump sum payment equal to 12 months of COBRA continuation coverage premiums.

The following table describes the potential payments that would have been provided to each of our named executive officers pursuant to the Severance Policy in the event that they were involuntarily terminated as described above outside of a change in control period, assuming such termination occurred on December 31, 2024.

| Named Executive Officer |     | Cash Compensation ($) |         |     | Health Benefits ($) |        |     | Total ($) |         |
| Matthew Prince          |     |                       | 200,000 |     |                     | 25,662 |     |           | 225,662 |
| Michelle Zatlyn         |     |                       | 200,000 |     |                     | 25,578 |     |           | 225,578 |
| Thomas Seifert          |     |                       | 375,000 |     |                     | 18,448 |     |           | 393,448 |
| Douglas Kramer          |     |                       | 325,000 |     |                     | 26,443 |     |           | 351,443 |

The Severance Policy also provides that if a named executive officer’s employment is terminated during the change in control period either by us other than for cause, and other than due to death or disability, or by the named executive officer due to a “constructive termination” (as generally defined within the executive officer’s participation agreement), the named executive officer will receive:

• a lump sum payment equal to 12 months of base salary;

• a lump sum equal to a prorated target annual bonus for the year of termination;

• 100% acceleration of unvested time-based equity awards granted on or after the effective date of the Severance Policy (the terms of the Performance Options specify that such grants will not be considered time-based equity awards for purposes of the Severance Policy and therefore will not be subject to the acceleration of vesting provisions of the Severance Policy); and

• a lump sum payment equal to 12 months of COBRA continuation coverage premiums.

In addition, our equity incentive plans contain certain provisions related to a change in control that could impact awards held by our named executive officers. Our 2019 Plan provides that in the event of a merger or “change in control,” as defined under the