Company: ERAS
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001193125-25-103868
Chunk: 45

Company: Erasca, Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 45
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 2 or Tier 3 Covered Employee, respectively. |

28

Pursuant to the Severance Plan, if, at any time within the 12-monthperiod following a change in control, we (or any of our parents or subsidiaries) terminate a Covered Employee’s employment other than for cause (and other than due to death or disability) or the Covered Employee resigns for Good Reason, then the Covered Employee will be entitled to receive the following severance benefits, subject to his or her execution of a release of claims and compliance with certain restrictive covenants, including with respect to non-solicitationand non-disparagement:

| • |     | The following aggregate cash amount paid in installments over the following time period: |

| • |     | In the case of the CEO, the sum of 18 months of annualized base pay and 1.5 times his or her target bonus (as defined in the Severance Plan) paid in a lump sum. |

| • |     | In the case of a Tier 1 and Tier 2 Covered Employee, the sum of 12 months of annualized base pay and 1.0 times his or her target bonus paid in lump sum. |

| • |     | In the case of a Tier 3 Covered Employee, the sum of nine months of annualized base pay and the greater of 0.75 times his or her target bonus or a prorated target bonus based on the period of time he or she was employed for the fiscal year in which termination occurs. |

| • |     | Company-paid COBRA coverage for 18 months, 12 months, 12 months or nine months following termination in the case of the CEO, a Tier 1, Tier 2 or Tier 3 Covered Employee, respectively. |

| • |     | 100% accelerated vesting of the Covered Employee’s equity compensation awards. |

The severance benefits prescribed by the Severance Plan are subject to a Section 280G better-offcutback provision, which provides that, in the event that the benefits provided to the Covered Employee pursuant to the Severance Plan or otherwise constitute parachute payments with the meaning of Section 280G of the Internal Revenue Code, the Covered Employee’s severance benefits under the Severance Plan will either be delivered in full or reduced to the extent necessary to avoid an excise tax under Section 4999 of the Code, whichever would result in the Covered Employee receiving the largest amount of severance benefits on an after-tax