Document:

Gilead Sciences, Inc. 2005 Deferred Compensation Plan

 Exhibit 10.26 
 GILEAD SCIENCES, INC. 
 2005 DEFERRED COMPENSATION PLAN 
 AS AMENDED AND RESTATED OCTOBER 22, 2007 
 AND SUBSEQUENTLY AMENDED EFFECTIVE JANUARY 1, 2008 
 AND OCTOBER 23, 2008 

 TABLE OF CONTENTS 
  

			
	 	  	Page
		
	 1.      HISTORY OF THE PLAN
	  	1
	 1.1        Successor Plan
	  	1
	 1.2        Restatement
	  	1
		
	 2.      PURPOSE OF THE PLAN
	  	1
	 2.1        Plan Purpose
	  	1
		
	 3.      EFFECTIVE DATE OF THE PLAN

	  	1
	 3.1        Effective Date
	  	1
		
	 4.      DEFINITIONS
	  	2
	 4.1        Definitions
	  	2
		
	 5.      ELIGIBILITY; PARTICIPATION
	  	7
	 5.1        Eligibility
	  	7
	 5.2        Continuation of Participation
	  	7
	 5.3        Resumption of Participation Following Separation from Service
	  	7
	 5.4        Cessation or Resumption of Participation Following a Change in Status
	  	8
		
	 6.      DEFERRAL AND DISTRIBUTION
ELECTIONS
	  	8
	 6.1        Deferral Elections for Employee Participants
	  	8
	 6.2        Deferral Elections for Eligible Directors
	  	9
	 6.3        Subsequent Elections
	  	10
	 6.4        Additional Provisions
	  	10
	 6.5        Deferral Percentages
	  	10
	 6.6        Special Elections in 2005 regarding Deferrals
	  	10
	 6.7        Phantom Share Program for Directors
	  	11
	 6.8        Distribution Election
	  	11
	 6.9        Special Distribution Election in 2006
	  	11
	 6.10      Special Distribution Election in 2007
	  	11
	 6.11      Special Distribution Election in 2008
	  	12
	 6.12      Election Form
	  	12
	 6.13      Time of Making Employer Contributions
	  	12
		
	 7.      PARTICIPANT ACCOUNTS
	  	13
	 7.1        Individual Accounts
	  	13
		
	 8.      INVESTMENT OF CONTRIBUTIONS
	  	13
	 8.1        Available Investment Funds
	  	13
	 8.2        Investment Directives
	  	13
	 8.3        Changes to Investment Funds
	  	13

  

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	 9.      DISTRIBUTION OF BENEFITS
	  	14
	 9.1        Distribution of Benefits to Participants
	  	14
	 9.2        Determination of Timing and Method of Distribution
	  	14
	 9.3        Default Distribution Election
	  	15
	 9.4        Delayed Distribution to Specified Employees
	  	15
	 9.5        Unforeseeable Emergency
	  	15
	 9.6        Prohibition on Acceleration
	  	15
	 9.7        Adjustment for Investment Experience
	  	16
	 9.8        Notice to Trustee
	  	16
	 9.9        Time of Distribution
	  	16
		
	 10.    EFFECT OF DEATH OF A
PARTICIPANT
	  	16
	 10.1      Distributions
	  	16
	 10.2      Beneficiary Designation
	  	17
		
	 11.    ESTABLISHMENT OF A TRUST
	  	17
	 11.1      Trust
	  	17
	 11.2      General Duties of Trustee
	  	17
		
	 12.    AMENDMENT AND TERMINATION
	  	17
	 12.1      Amendment by Employer
	  	17
	 12.2      Retroactive Amendments
	  	18
	 12.3      Termination
	  	19
		
	 13.    MISCELLANEOUS
	  	19
	 13.1      Withholding Taxes
	  	19
	 13.2      Participant’s Unsecured Rights
	  	20
	 13.3      Limitation of Rights
	  	20
	 13.4      Nonalienability of Benefits
	  	20
	 13.5      Facility of Payment
	  	20
	 13.6      Governing Law
	  	21
	 13.7      Section 409A Compliance
	  	21
		
	 14.    PLAN ADMINISTRATION
	  	21
	 14.1      Powers and Responsibilities of the Administrator
	  	21
	 14.2      Claims and Review Procedure
	  	21
	 14.3      Execution and Signature
	  	24
		
	ATTACHMENT A PLAN INVESTMENT FUNDS AS OF OCTOBER 22, 2007	  	25

  

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	1.	HISTORY OF THE PLAN. 

 1.1 Successor Plan. The Plan is the successor plan to the Gilead Sciences, Inc. Deferred Compensation Plan, effective January 1, 2002, as amended (the “Prior Plan”). Effective as of
December 31, 2004, the Prior Plan was frozen, and no new contributions were permitted to be made to it; provided, however, that any deferrals made under the Prior Plan before January 1, 2005 will continue to be governed by
the terms and conditions of the Prior Plan as in effect on December 31, 2004. Any deferrals made under the Prior Plan after December 31, 2004 will be deemed to have been made under this Plan, and all such deferrals will accordingly be
governed by the terms and conditions of this Plan, as it may be amended from time to time. 
 1.2 Restatement. The purpose of the
October 22, 2007 restatement, as subsequently amended effective January 1, 2008, is to evidence the documentary compliance of the Plan, effective retroactive to January 1, 2005, with the applicable requirements of Section 409A of
the Internal Revenue Code, the Treasury Regulations issued under Section 409A and the interim guidance provided by the Internal Revenue and the Treasury Department prior to the publication of the final Section 409A Regulations. The
Plan as so restated was further amended on October 23, 2008 in order to allow commissions to be deferred and to effect certain clarifications to the distribution provisions. 
  

	2.	PURPOSE OF THE PLAN. 

 2.1 Plan Purpose. The Employer maintains the Plan, a deferred compensation plan, for the benefit of (i) a select group of management and other highly compensated employees of the Employer and (ii) the
non-employee members of the Employer’s Board of Directors. Each other Participating Employer will also maintain the Plan as a deferred compensation plan for the benefit of a select group of its management personnel and other highly compensated
employees. The Participating Employers intend that the existence of the Trust will not alter the characterization of the Plan as “unfunded” for purposes of the Employee Retirement Income Security Act of 1974, as amended
(“ERISA”), and will not be deemed to provide income to Participants under the Plan prior to the actual payment of their vested accrued benefits hereunder. The Participating Employers intend that the Plan comply with the requirements of
Section 409A of the Code and the regulations promulgated thereunder. 
  

	3.	EFFECTIVE DATE OF THE PLAN. 

 3.1 Effective Date. The effective date of the Plan is January 1, 2005, except as otherwise noted herein. 
  

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	4.	DEFINITIONS. 

 4.1
Definitions. 
 (a) Wherever used herein, the following terms have the meanings set forth below, unless a different
meaning is clearly required by the context: 
 (1) “Account” means an account established on the books of the
Employer for the purpose of recording amounts credited on behalf of a Participant pursuant to his or her Deferral Elections under the Plan and any income, expenses, gains or losses attributable to the deemed investment of such account in one or more
of the Investment Funds. 
 (2) “Administrator” means the Employer adopting the Plan, or other person
designated by the Employer. 
 (3) “Affiliated Company” means (i) the Employer and (ii) and
each member of the group of commonly controlled corporations or other businesses that include the Employer, as determined in accordance with Section 414(b) and (c) of the Code and the Treasury Regulations issued thereunder. 
 (4) “Annual Retainer” means the annual retainer fee payable to an Eligible Director. 
 (5) “Beneficiary” means the person or persons entitled under Section 10.1 to receive benefits under the Plan upon
the death of a Participant. 
 (6) “Board” means the Board of Directors of the Employer, as constituted from
time to time. 
 (7) “Bonus” means the bonus payable to an Eligible Employee pursuant to the Employer’s
corporate bonus program. 
 (8) “Change of Control” will be deemed, consistent with Section 409A of the
Code and the Treasury Regulations issued thereunder, to occur on the date that: 
 (A) any one person, or more than
one person acting as a group (as defined in Treasury Regulation Section 1.409A-3(i)(5)(v)(B)), acquires ownership of stock of the Employer, that together with stock held by such person or group, constitutes more than fifty percent (50%) of
the total fair market value or total voting power of the outstanding stock of the Employer; provided, however, that if any one person, or more than one person acting as a group, is considered to own more than fifty percent
(50%) of the total fair market value or total voting power of the outstanding stock of the Employer, the acquisition of additional Employer stock by the same person or persons is not considered a Change of Control; or 
 (B) any one person, or more than one person acting as a group (as defined in Treasury Regulation
Section 1.409A-3(i)(5)(v)(B)), acquires (or has acquired during the twelve-month period ending on the date of the most recent acquisition by such person or group) assets from the Employer that have a total “gross fair market value”
(as defined in 

  

 2 

 
Treasury Regulation Section 1.409A-3(i)(5)(vii)(A)) equal to forty percent (40%) or more of the total gross fair market value of all of the assets
of the Employer immediately prior to such acquisition or acquisitions; or 
 (C) any one person, or more than one
person acting as a group (as defined in Treasury Regulation Section 1.409A-3(i)(5)(v)(B)), acquires (or has acquired during the twelve-month period ending on the date of the most recent acquisition by such person or group) ownership of stock of
the Employer possessing thirty percent (30%) or more of the total voting power of the stock of the Employer; or 
 (D) a majority of the members of the Board is replaced during any twelve-month period by directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of such appointment or
election; provided, however, that for purposes of this subparagraph (D), no Change of Control will be deemed to have occurred if any other corporation is a majority stockholder of the Employer. 
 (9) “Code” means the Internal Revenue Code of 1986, as amended from time to time. 
 (10) “Compensation” means Salary, Bonus, Commissions and Annual Retainer. Compensation will not include, among other
items, employee referral awards or severance payments. In addition, a Participant’s Compensation shall not, for purposes of the Plan, include any item of compensation earned for a period of service rendered prior to the effective date of the
Deferral Election filed by the Participant with respect to that item. 
 (11) “Commissions” mean the
commissions earned by an Eligible Employee for services rendered in connection with the direct sale of products or services of the Company or any Affiliated Entity to unrelated parties, with the amount of such commissions to be determined either as
a percentage of the purchase price of those products or services or by reference to the volume of those sales. 
 (12)
“Deferral Election” means the irrevocable election filed by the Participant under Article V of the Plan pursuant to which a portion of his or her Compensation for the Plan Year is to be deferred in accordance with the provisions of the
Plan. 
 (13) “Eligible Director” means a non-employee member of the Board. 
 (14) “Eligible Employee” means any Employee who is either a highly compensated employee of the Employer or other
Participating Employer or part of its management personnel, as determined pursuant to guidelines established by the Administrator form time to time. 
 (15) “Employee” means any person in the employ of one or more members of the Employer Group, subject to the control and direction of the employer entity as to both the work to be performed and the
manner and method of performance. 
 (16) “Employer” means Gilead Sciences, Inc. 
  

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 (17) “Employer Group” means (i) the Employer and (ii) each of
the other members of the controlled group of corporations that includes the Employer, as determined in accordance with Sections 414(b) and (c) of the Code, except that in applying Sections 1563(1), (2) and (3) for purposes of
determining the controlled group of corporations under Section 414(b), the phrase “at least 50 percent” shall be used instead of “at least 80 percent” each place the latter phrase appears in such sections, and in applying
Section 1.414(c)-2 of the Treasury Regulations for purposes of determining trades or businesses that are under common control for purposes of Section 414(c), the phrase “at least 50 percent” shall be used instead of “at
least 80 percent” each place the latter phrase appears in Section 1.4.14(c)-2 of the Treasury Regulations. 
 (18)
“ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time. 
 (19)
“Extended Deferral Election” means a Participant’s election, made in accordance with the terms and conditions of Section 9.2 of the Plan, to defer the distribution of his or her Account for an additional period of at least
five (5) years measured from the date or event on which that Account was scheduled to first become due and payable under the Plan. 
 (20) “Fee Period” means the applicable period of service over which the Annual Retainer subject to an Eligible Director’s Deferral Election is to be earned and shall be determined in accordance
with Section 6.2 of the Plan. 
 (21) “Identification Date” means each December 31. 
 (22) “Investment Fund” means any actual investment fund which serves as the measure of the notional investment return on
all or any portion of an Account pursuant to the provisions of Section 8. 
 (23) “Investment Fund
Share” means the share, unit, or other evidence of ownership in a designated Investment Fund. 
 (24)
“Participant” means any Eligible Employee or Eligible Director who participates in the Plan through one or more Deferral Elections under Article V. 
 (25) “Participating Employer” means the Employer and any other Affiliated Company which has, with the consent of the
Administrator, adopted this Plan as a deferred compensation program for one or more of its Eligible Employees. 
 (26)
“Phantom Shares” mean an award denominated in shares of the Employer’s common stock pursuant to which the award holder has the right to receive an amount equal to the value of a specified number of shares of the Employer’s
common stock at a designated time or over a designated period and which will be payable in such shares issued under the Gilead Sciences, Inc. 2004 Equity Incentive Plan. Phantom Shares shall be a form of deemed investment under the Plan only with
respect to the Annual Retainers deferred hereunder by Eligible Directors. 
  

 4 

 (27) “Plan” means the Gilead Sciences, Inc. 2005 Deferred Compensation
Plan, as set forth in this document and as subsequently amended from time to time. 
 (28) “Plan Year” means
the calendar year. 
 (29) “Prior Plan” means the Gilead Sciences, Inc. Deferred Compensation Plan, as in
effect as of December 31, 2004. No additional Compensation may be deferred under the Prior Plan after December 31, 2004. 
 (30) “Salary” means an Eligible Employee’s base salary. 
 (31) “Separation from
Service” means, for a Participant who is an Employee, such individual’s cessation of Employee status by reason of his or her death, retirement or termination of employment. Such Participant shall be deemed to have terminated employment at
such time as the level of his or her bona fide services to be performed as an Employee (or non-employee consultant or contractor) permanently decreases to a level that is not more than twenty percent (20%) of the average level of services he or
she rendered as an Employee during the immediately preceding thirty-six (36) months (or such shorter period for which he or she may have rendered such service). For an Eligible Director, a Separation from Service shall be deemed to occur when
such individual ceases to serve as a Board member. Any determination as to Separation from Service, however, shall be made in accordance with the applicable standards of the Treasury Regulations issued under Code Section 409A. In addition to
the foregoing, a Separation from Service will not be deemed to have occurred while an Employee is on military leave, sick leave, or other bona fide leave of absence if the period of such leave does not exceed six (6) months or any longer period
for which such Employee’s right to reemployment with the Employer is provided either by statute or contract; provided, however, that in the event of an Employee’s leave of absence due to any medically determinable physical or
mental impairment that can be expected to result in death or to last for a continuous period of not less than six (6) months and that causes such individual to be unable to perform his or her duties as an Employee, no Separation from Service
shall be deemed to occur during the first twenty-nine (29) months of such leave. If the period of leave exceeds six (6) months (or twenty-nine (29) months in the event of disability as indicated above) and the Employee’s right to
reemployment is not provided either by statute or contract, then such Employee will be deemed to have Separated from Service on the first day immediately following the expiration of such six (6)-month or twenty-nine (29)-month period. 
 (32) “Specified Employee” means an Eligible Employee who, at any time during the twelve (12)-month period ending on the
applicable Identification Date, is: 
 (A) an officer of the Employer or any other Affiliated Company having aggregate
annual compensation from the Employer and/or one or more other Affiliated Companies greater than the compensation limit in effect at the time under Section 416(i)(1)(A)(i) of the Code, provided that no more than fifty such officers shall be
determined to be Key Employees as of any Identification Date; 
  

 5 

 (B) a five percent owner of the Employer or any other Affiliated Company ; or

 (C) a one percent owner of the Employer or any other Affiliated Company who has aggregate annual compensation from
the Company and/or one or more other Affiliated Companies of more than $150,000. 
 The determination of such Specified Employees shall be in accordance with
the applicable standards and requirements of Section 409A of the Code and the Treasury Regulations thereunder. If an Eligible Employee is identified as a Specified Key Employee on a Identification Date, then such Eligible Employee shall be
considered a Specified Employee for purposes of the Plan during the period beginning on the first April 1 following the Identification Date and ending on the next March 31. 
 (33) “Trust” means the trust created by the Employer. 
 (34) “Trust Agreement” means the agreement between the Employer and the Trustee, as set forth in a separate agreement,
under which assets are held, administered, and managed subject to the claims of the Employer’s creditors in the event of the Employer’s insolvency, until paid to the Participants and their Beneficiaries as specified in the Plan.

 (35) “Trust Fund” means the property held in the Trust by the Trustee. 
 (36) “Trustee” means the corporation or individuals appointed by the Employer to administer the Trust in accordance with
the Trust Agreement. 
 (37) “Unforeseeable Emergency” means a severe financial hardship to the Participant
resulting from: 
 (A) An illness or accident of the Participant, the Participant’s spouse or Beneficiary or the
Participant’s dependent (as defined in Section 152(a) of the Code); or 
 (B) Loss of the Participant’s
property due to casualty (including the need to rebuild a home following damage to the home not otherwise covered by insurance); or 
 (C) Other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant. 
 Financial hardship shall not constitute an Unforeseeable Emergency under the Plan to the extent that it is, or may be, relieved by (i) reimbursement or compensation, by insurance or otherwise, (ii) liquidation of the
Participant’s assets to the extent that the liquidation of such assets would not itself cause severe financial hardship, or (iii) cessation of deferrals under the Plan. 
 (b) Pronouns used in the Plan are in the masculine gender but include the feminine gender unless the context clearly indicates
otherwise. 
  

 6 

	5.	ELIGIBILITY; PARTICIPATION. 

 5.1 Eligibility. The Administrator (acting through an authorized committee of one or more officers or other senior executives) shall have absolute discretion in selecting the Eligible Employees who are to participate in the Plan for
each Plan Year. An Eligible Employee selected for participation for any Plan Year must, in order to participate in the Plan for that year, file a timely Deferral Election in accordance with the requirements of Section 6.1. An Eligible Employee
who is first selected for participation in the Plan after the start of a Plan Year and who has not otherwise been eligible for participation in any other non-qualified elective account balance plan subject to Code Section 409A and maintained by
one or more Affiliated Companies may file a Deferral Election for that Plan Year in accordance with the applicable requirements of Section 6.1. Until such time as the Administrator implements a new policy, any selection of new Participants
after the start of the Plan Year will be limited to the first business day of May of that Plan Year. Individuals who are selected for participation in the Plan, whether before or after the start of the Plan Year, shall be promptly notified by their
Participating Employer of their eligibility to participate in the Plan. Eligible Directors shall automatically be eligible to participate in the Plan during their period of service in such capacity, and their Deferral Elections shall be subject to
the same requirements set forth above for Employee Participants. 
 5.2 Continuation of Participation. Every Eligible Employee who
becomes a Participant may continue to file Deferral Elections under the Plan for one or more subsequent Plan Years until the earliest of (i) his or her exclusion from the Plan upon written notice from the Administrator,
(ii) his or her cessation of Eligible Employee status or (iii) the termination of the Plan. The Administrator shall have complete discretion to exclude one or more Eligible Employees from Participant status for one or more Plan Years as
the Administrator deems appropriate, including the entire period the Participant continues in Eligible Employee status following such exclusion. However, no such exclusion authorized by the Administrator shall become effective until the first day of
the first Plan Year coincident with or next following the date of the Administrator’s determination to exclude the individual from such participation. If any Eligible Employee is excluded from Participant status for one or more Plan Years, then
such individual shall not be entitled to defer any part of his or her Compensation for those Plan Years. 
 5.3 Resumption of
Participation Following Separation from Service. If a Participant ceases to be an Eligible Employee or an Eligible Director due to a Separation from Service and thereafter returns to service with the Employer, such individual will again become a
Participant as of the first day of the first Plan Year coincident with or next following the date on which he or she resumes Eligible Employee or Eligible Director status, provided such individual files a timely a Deferral Election pursuant to
Section 6.1 with respect to that Plan Year. However, a Participant who returns to Eligible Employee or Eligible Director status after a Separation from Service of more than twenty-four (24) months during which he or she was not eligible to
defer any Compensation under this Plan or any other any other non-qualified elective account balance plan subject to Code Section 409A and maintained by one or more Affiliated Companies shall, following resumption of such service, be permitted
to make a Deferral Election under Section 6.1 in accordance with the requirements applicable to a newly-selected Participant. Notwithstanding the foregoing provisions of this Section 5.3, no returning Eligible Employee shall be eligible to
participate in the Plan if the Administrator determines to exclude such individual from participation on or before his or her resumption of service. 
  

 7 

 5.4 Cessation or Resumption of Participation Following a Change in Status. If any Participant
continues in the service of the Employer Group but ceases to be an Eligible Employee or Eligible Director, the individual will continue to be a Participant until the entire amount of his or her Account balance is distributed. However, any Deferral
Elections that may otherwise be in effect for such individual shall not apply to Compensation earned for the period that he or she is not an Eligible Employee or Eligible Director. In the event that the individual subsequently resumes Eligible
Employee or Eligible Director status in the same Plan Year, then his or her Deferral Elections for that Plan Year will immediately resume and apply to the Compensation subject to those elections that is earned for the period following such
resumption of Eligible Employee or Eligible Director status. In the event that the individual subsequently resumes Eligible Employee or Eligible Director status in a subsequent Plan Year, then he or she will again become eligible to defer his or her
Compensation under the Plan as of the first day the first Plan Year coincident with or next following the date of such resumption of Eligible Employee or Eligible Director status, provided such individual files a timely a Deferral Election pursuant
to Section 6.1 with respect to that Plan Year. However, an Eligible Employee shall not be eligible to make such a new Deferral Election following his or her resumption of Eligible Employee status in a subsequent Plan Year if the Administrator
determines to exclude such individual from participation on or before resumption of such status.  
  

	6.	DEFERRAL AND DISTRIBUTION ELECTIONS. 

 6.1 Deferral Elections for Employee Participants. Each Eligible Employee selected for participation shall have the right to file a Deferral
Election with respect to the Salary, Commissions and/or Bonus to be earned by such Participant for service as an Eligible Employee during the Plan Year for which the Deferral Election is made. Each Deferral Election must be made by a written or
electronic notice filed with the Administrator or its designate in which the Participant shall indicate the percentage of Salary, Commissions and/or Bonus to be deferred in accordance with the applicable percentage limitations set forth in
Section 6.5. The notice must be filed on or before the expiration date of the enrollment period designated by the Administrator for the Plan Year for which the Deferral Election is to be effective, but in no event shall the Administrator allow
any Deferral Election to be filed later than the last day of the calendar year immediately preceding the start of the Plan Year for which the Salary, Commissions and/or Bonus subject to that election are to be earned. However, the following special
rules shall be in effect for Deferral Elections: 
 (A) Commissions shall be deemed to be earned as a result of the
Participant’s services in the Plan Year in which the sale to which those Commissions relate occurs. Accordingly, such Commissions shall only be deferred under the Plan to the extent the Participant has a Deferral Election covering Commissions
for that Plan Year. 
 (B) The Administrator may allow a Deferral Election with respect to a Bonus which qualifies as
performance-based compensation in accordance with the standards and requirements set forth in Section 1.409A-1(e) of the Treasury Regulations to be made by a Participant after the start of the Plan Year (or other performance period) to which
that Bonus pertains but not later than by a designated date that is at least six (6) months prior to the end of that Plan Year (or any longer performance period in effect for that Bonus). 
  

 8 

 (C) An Eligible Employee who is first selected for participation in the Plan after the
start of a Plan Year and who has not otherwise been eligible for participation in any other non-qualified elective account balance plan subject to Code Section 409A and maintained by one or more Affiliated Companies must file his or her initial
Deferral Election no later than thirty (30) days after the date he or she is so selected. Such Deferral Election shall only be effective as follows: 
  

	 	•	 	 with respect to Salary and Commissions, such election shall be effective only for the portion thereof attributable to Employee service for the period commencing no
earlier than the first day of the first calendar month next following the filing of such Deferral Election and ending with the close of such Plan Year, and 

  

	 	•	 	 with respect to any Bonus, such election shall be effective only for the portion thereof determined by multiplying the dollar amount of such Bonus by a fraction,
the numerator of which is not more than the number of days remaining in the performance period applicable to that Bonus following the close of the calendar month in which the Participant’s Deferral Election as to such Bonus is filed and the
denominator of which is the total number of days in that performance period; provided, however, that in the event any such Bonus qualifies as performance-based compensation and the Participant otherwise satisfies the applicable service
requirements of Section 1.409A-2(a)(8) of the Treasury Regulations, then the provisions of Subsection 6.1(A) shall also be applicable in determining the amount of such Bonus that may be deferred. 

 6.2 Deferral Elections for Eligible Directors. 
 (a) Each Eligible Director shall have the right to file a Deferral Election with respect to the Annual Retainer to be earned by such Participant for service as an Eligible Director for the applicable Fee
Period. Each Deferral Election must be made by a written or electronic notice filed with the Administrator or its designee in which the Participant shall indicate the percentage of the Annual Retainer for the Fee Period to be deferred in accordance
with the percentage limitations set forth in Section 6.5. The notice must be filed on or before the expiration date of the enrollment period designated by the Administrator for the Fee Period for which the Deferral Election is to be effective,
but in no event shall the Administrator allow any Deferral Election to be filed later than the last day of the calendar year immediately preceding the Plan Year in which the Fee Period subject to that election will begin. For each Plan Year prior to
January 1, 2009, the applicable Fee Period covered by the Deferral Election shall be the twelve (12)-month period beginning on the first day of July of that Plan Year and ending on the last day of June in the succeeding Plan Year. However, the
Deferral Election filed for the 2009 Plan Year shall, as determined by the Administrator prior to the start of that Plan Year, cover either the six month Fee Period beginning on July 1, 2009 and ending December 31, 2009 or the twelve
(12)-month Fee Period beginning on July 1, 2009 and ending June 30, 2010. For each Plan Year beginning after December 31, 2009, the Fee Period shall be determined by the Administrator prior to the start of that Plan Year. 

 

 9 

 (b) An individual who first becomes an Eligible Director after the start of a Plan
Year and who has not otherwise been eligible for participation in any other non-qualified elective account balance plan subject to Code Section 409A and maintained by one or more Affiliated Companies must file his or her initial Deferral
Election no later than thirty (30) days after the date he or she is appointed or elected as an Eligible Director. Such Deferral Election shall only be effective with respect to the portion of the Annual Retainer attributable to Eligible
Director service for the period commencing with the first day of the first calendar month following the filing of such Deferral Election and ending on the last day of the Fee Period to which that Annual Retainer pertains. 
 6.3 Subsequent Elections. After an initial Deferral Election is made, a new Deferral Election must be made prior to each subsequent Plan Year in
order for a Participant to continue participation in the Plan for that Plan Year. Each such subsequent Deferral Election shall be effective on the first day of the Plan Year following the Plan Year in which the election is made. 
 6.4 Additional Provisions. The Deferral Election for an upcoming Plan Year shall become irrevocable upon the expiration date of the enrollment
period designated for that Plan Year, but in no event later than the last day of the immediately preceding Plan Year (or the last date on which the Deferral Election for the Plan Year may be filed under Section 6.1 or 6.2 by a newly-eligible
Participant or the last day on which a Deferral Election may be filed under Section 6.1(c) with respect to Bonus amounts qualifying as performance-based compensation), and no subsequent changes may be made to that Deferral Election once it
becomes irrevocable. The Account maintained on behalf of each Participant will be credited with the corresponding amount of Compensation deferred by that Participant, as and when that Compensation would have otherwise become payable in the absence
of his or her Deferral Election. Under no circumstances may a Deferral Election be made retroactively. 
 6.5 Deferral Percentages.

 (a) The minimum deferral per Plan Year will be determined by the Administrator. 
 (b) A Participant who is an Eligible Employee may elect to defer (less any tax withholding requirements) up to 70% of Salary, up to
100% of Commissions and up to 100% of Bonus in any whole multiple of 1%. 
 (c) A Participant who is an Eligible
Director may elect to defer up to 100%, in any whole multiple of 1%, of the Annual Retainer for the Fee Period. 
 (d)
A Participant who is an Eligible Employee must also make satisfactory arrangements with his or her Participating Employer to assure the prompt collection of all withholding taxes applicable to the Compensation he or she elects to defer under the
Plan. 
 6.6 Special Elections in 2005 regarding Deferrals. In accordance with IRS Notice 2005-1, Q&A-20, on or before
March 15, 2005, Eligible Employees were permitted to make a Deferral Election with respect to the Bonus earned for the 2004 Plan Year. Deferral Elections made pursuant to this Section 6.6 are irrevocable and subject to any special
administrative rules imposed by the Administrator consistent with Section 409A of the Code and Notice 2005-1, Q&A-20. No special election under this Section 6.6 will be permitted after March 15, 2005. 
  

 10 

 6.7 Phantom Share Program for Directors. Eligible Directors may, as part of their Deferral
Election, elect to have the Annual Retainer subject to that election deferred in the form of fully vested Phantom Shares issued under the Gilead Sciences, Inc. 2004 Equity Incentive Plan. In the event of such election, the conversion of the deferred
Annual Retainer (or the deferred portion thereof) into such Phantom Shares shall be effected on the first day of the Fee Period to which the deferred Annual Retainer relates. At the time of distribution, the Phantom Shares shall be converted into
actual shares of Gilead Sciences, Inc. common stock issued under the Gilead Sciences, Inc. 2004 Equity Incentive Plan. 
 6.8 Distribution
Election. The initial Deferral Election made by a Participant under this Section 6 must include an election as to the time and form of payment of all Compensation deferred by that Participant under the Plan, including the Compensation
deferred pursuant to that initial election and all Compensation deferred pursuant to one or more subsequent Deferral Elections. The permissible distribution events or triggers are as follow: 
 (a) A Participant may elect to receive a distribution or commence distributions from his or her Account pursuant to Section 9
upon the attainment of one of the following ages: 75, 70, 65, 60, 55 and 50. 
 (b) Alternatively, a Participant may
elect to receive a distribution or commence distributions from his or her Account pursuant to Section 9 either (i) five years following the date of the Participant’s Separation from Service, (ii) two years following the date of
such Separation from Service or (iii) subject to Section 9.4, immediately following the date of such Separation from Service. 
 6.9 Special Distribution Election in 2006. Participants may make a special distribution election to change the time and form of the distribution of their Account, provided that the distribution election is made at least twelve months
in advance of the newly elected distribution date and the previously scheduled distribution date and the election is made no later than December 31, 2006. An election made pursuant to this Section 6.9 shall be treated as an initial
distribution election and shall be subject to any special administrative rules imposed by the Administrator including rules intended to comply with Section 409A of the Code and Notice 2005-1, Q&A-19. No election under this Section 6.9
shall (i) change the payment date of any distribution otherwise scheduled to be paid in 2006 or cause a payment to be made in 2006 that was otherwise scheduled for payment in a later year or (ii) be permitted after December 31, 2006.

 6.10 Special Distribution Election in 2007. Participants may make a special distribution election to change the time and form of
the distribution of their Account, provided that the distribution election is made at least twelve months in advance of the newly elected distribution date and the previously scheduled distribution date and the election is made no later than
December 31, 2007. An election made pursuant to this Section 6.10 shall be treated as an initial distribution election and shall be subject to any special administrative rules imposed by the Administrator, including rules intended to
comply with Section 409A of the Code. No election 

  

 11 

 
under this Section 6.10 shall (i) change the payment date of any distribution otherwise scheduled to be paid in 2007 or cause a payment to be made
in 2007 that was otherwise scheduled for payment in a later year or (ii) be permitted after December 31, 2007. 
 6.11 Special
Distribution Election in 2008. Participants may make a special distribution election to change the time and form of the distribution of their Account, provided that the distribution election is made at least twelve months in advance of the newly
elected distribution date and the previously scheduled distribution date and the election is made no later than December 31, 2008. An election made pursuant to this Section 6.11 shall be treated as an initial distribution election and
shall be subject to any special administrative rules imposed by the Administrator, including rules intended to comply with Section 409A of the Code. No election under this Section 6.11 shall (i) change the payment date of any
distribution otherwise scheduled to be paid in 2008 or cause a payment to be made in 2008 that was otherwise scheduled for payment in a later year or (ii) be permitted after December 31, 2008. 
 6.12 Election Form. All Deferral Elections under this Section 6 will be made in a manner prescribed for these purposes by the Administrator.

 6.13 Time of Making Employer Contributions. The Employer may from time to time make a transfer of assets to the Trustee for a Plan
Year. The Employer will provide the Trustee with information on the amount to be credited to the separate account of each Participant maintained under the Trust. 
  

 12 

	7.	PARTICIPANT ACCOUNTS. 

 7.1 Individual Accounts. An Account shall be established and maintained for each Participant which shall reflect the deferred Compensation credited to the Account on behalf of the Participant and the earnings, expenses, gains and
losses attributable to the deemed investment of that Account pursuant to Section 8. The Employer shall establish and maintain such other accounts and records as it decides in its discretion to be reasonably required or appropriate in order to
discharge its duties under the Plan. Participants will at all times be 100% vested in their Accounts. Participants will be furnished statements of their Account values at least once each Plan Year. 
  

	8.	INVESTMENT OF CONTRIBUTIONS. 

 8.1 Available Investment Funds. The Administrator (acting through an authorized committee of one or more officers or other senior executives) shall have absolute discretion to select the available Investments
Funds which Participants may choose as the measure of the notional investment return on their Accounts in accordance with Section 8.2 The available Investment Funds shall be set forth in Attachment A, as amended from time to time;
provided, however, that Eligible Directors who participate in the Plan may also direct the investment of their Accounts in Phantom Shares. All amounts credited to Participant Accounts shall be treated as though invested and reinvested
only in those available Investment Funds. 
 8.2 Investment Directives Investments in which a Participant’s Account shall be
treated as invested and reinvested as directed by the Participant. All dividends, interest, gains, losses and distributions of any nature earned with respect to the Investment Fund Shares in which the Account is deemed invested shall be credited to
the Account as though reinvested in additional shares of that Investment Fund. Expenses attributable to the acquisition of investments that mirror the deemed investments in a Participant’s Account shall be charged to that Account. 

8.3 Changes to Investment Funds. Except as otherwise provided in this Section 8.3, the available Investment Funds set forth in Attachment
A shall include the same investment funds selected by the Company’s Benefits Committee (the “Benefits Committee”) as available investment choices for participants in the Company’s 401(k) Savings Plan (the “Savings
Plan”). Notwithstanding the forgoing, should any investment fund selected by the Benefits Committee for inclusion as an available investment fund under the Savings Plan not be available for Participants in this Plan, then Administrator (acting
through an authorized committee of one or more officers or other senior executives) shall have the authority to select an alternative investment option that is substantially similar to the unavailable investment fund. In all cases, the available
investment funds under the Plan shall automatically change from time to time to reflect any changes made to the available investment funds under the Savings Plan, with such changes to become effective as of the same date and time as the
corresponding changes are made to the available investment funds under the Saving Plan without the need for formal amendment under this Plan. Attachment A shall be updated from time to time to reflect such changes in investment options, and the
Senior Vice President, Human Resources (or his or her authorized delegate) shall have the authority to execute documents and provide instruction to the Plan’s service providers with respect to the selection or modification of the Investment
Funds made available from time to time under the Plan. The foregoing provisions of this Section 8.3 shall not apply to the Phantom Shares in which Eligible Directors may elect to invest their Accounts. 
  

 13 

	9.	DISTRIBUTION OF BENEFITS. 

 9.1 Distribution of Benefits to Participants. 
 (a) Except as otherwise
provided in Section 9.1(c), distributions under the Plan will be made in a cash lump sum or under a systematic withdrawal plan over a period not exceeding ten years. Such form of distribution shall be determined in accordance with Sections 9.2
and 9.3. However, in the event of the Participant’s death, whether before or after the distribution of his or her Account has commenced, the provisions of Section 10.1 shall apply. 
 (b) Except as otherwise provided in Section 9.1(c), distributions under a systematic withdrawal plan must be made in annual
installments, in cash, over a period certain which does not extend for more than ten years. A systematic withdrawal plan may include a plan whereby one installment is elected. For purposes of the Plan, installment payments shall be treated as a
single aggregate distribution under Section 409A of the Code, and not as a series of individual installment payments. 
 (c) Notwithstanding Sections 9.1(a) and (b), distributions under the Plan to Eligible Directors shall, to extent attributable to Phantom Shares credited to their Accounts, be distributed in shares of the Employer’s common stock
issuable under the Gilead Sciences, Inc. 2004 Equity Incentive Plan. Distributions of such common stock may be in a lump sum or under a systematic withdrawal plan, as determined in accordance with Section 9.2 and 9.3. 
 9.2 Determination of Timing and Method of Distribution. The Participant shall elect the timing and method of distribution for his or her Account.
Such election shall be made at the time the Participant makes his or her initial Deferral Election, or in accordance with Section 6.9, 6.10 or 6.11 (as applicable), and will apply to all amounts credited to the Participant’s Account.
Effective as of January 1, 2009, a Participant may make an Extended Deferral Election by submitting a completed and executed election form approved by the Administrator for such purpose; provided, however, that such Extended
Deferral Election must be made at least twelve (12) months prior to the date the Participant’s Account is otherwise scheduled to become payable pursuant to the applicable provisions of Section 6 and the foregoing provisions of this
Section 9, and such Extended Deferral Election shall in no event become effective or otherwise have any force or applicability until the expiration of the twelve (12)-month period measured from the date such election is filed with the
Administrator. Accordingly, the Extended Deferral Election shall become null and void if the pre-existing specified commencement date or event for the distribution of the Participant’s Account occurs within that twelve (12)-month period. The
Extended Deferral Election must specify a commencement date in a Plan Year that is at least five (5) years later than the date on which the distribution of the Participant’s Account would have otherwise been made or commenced in the
absence of the Extended Deferral Election. As part of the Extended Deferral Election, the Participant may also elect a different method of distribution, provided the selected method complies with one of the methods of distribution permissible for
that Account in accordance with the provisions of the Plan. Once the Extended Deferral Election becomes effective in accordance 

  

 14 

 
with the foregoing provisions of this Section 9.2, such election shall remain in effect, whether or not the Participant continues in Employee status;
provided, however, that in the event of the Participant’s death, the provisions of Section 10.1 shall apply. A Participant may make only one Extended Deferral Election pursuant to this Section 9.2. 
 9.3 Default Distribution Election. If the Participant does not elect the method of distribution, the method of distribution will be a lump sum
cash payment. Subject to Section 9.4 below, if the Participant does not elect the timing of the distribution, the Participant’s Account balance will be distributed upon his or her Separation from Service. 
 9.4 Delayed Distribution to Specified Employees. Notwithstanding any other provision of this Section 9, a distribution made to a Participant
who is a Specified Employee at the time of his or her Separation from Service will be delayed for a minimum period of six months if the Participant’s distribution is triggered by such Separation from Service. Any payment that otherwise would
have been made pursuant to this Section 9 during such period will be made in one lump sum payment not later than the last day of the eight month following the month in which the Participant’s Separation from Service occurs. The
determination of which Participants are Specified Employees will be made by the Administrator in accordance with Section 4.1(a)(21) of the Plan and Sections 416(i) and 409A of the Code and the Treasury Regulations thereunder. 
 9.5 Unforeseeable Emergency. Upon application by a Participant in the event of an Unforeseeable Emergency, the Administrator may its sole
discretion authorize payment of all or part of the Participant’s Account in one lump sum payment no later than the last day of the second month following the month in which the distribution is approved by the Administrator. The Administrator
shall have complete discretion to accept or reject the request and shall in no event authorize a distribution from the Participant’s Account in an amount in excess of that reasonably required to meet such financial hardship and the tax
liability attributable to that distribution. The minimum amount of a distribution due to a Participant’s Unforeseeable Emergency will be $1,000.00. 
 9.6 Prohibition on Acceleration. Notwithstanding any other provision of the Plan to the contrary, no distribution will be made from the Plan that would constitute an impermissible acceleration of payment as
defined in Section 409A(a)(3) of the Code and the Treasury Regulations thereunder. However, the following mandatory distributions shall be made under the Plan: 
 (a) If the aggregate balance of the Participant’s Account is not greater than the applicable dollar amount in effect under
Code Section 402(g)(1)(B) at the time of the Participant’s Separation from Service and the Participant is not otherwise at that time participating in any other non-qualified elective account balance plan subject to Code Section 409A
and maintained by one or more Affiliated Companies, then that balance shall be distributed to the Participant in a lump sum distribution on the date of his or her Separation from Service or as soon as administratively practical thereafter, whether
or not the Participant elected that form of distribution or distribution event, but in no event later than the later of (i) the end of the calendar year in which such Separation from Service occurs or (ii) the fifteenth
(15th) day of the third (3rd) calendar month following the date of such Separation from Service, except to the extent a further deferral is required to comply with the delayed distribution requirements set forth in Section 9.4.

  

 15 

 (b) Should the aggregate present value of all of the remaining unpaid installments
due to a Participant who is receiving an installment distribution of his or her Account under the Plan fall below Twenty Thousand Dollars ($20,000), then those unpaid installments shall be paid to the Participant in a single lump sum within thirty
(30) days thereafter. 
 9.7 Adjustment for Investment Experience. If any distribution under this Section 9 is not made in a
single lump sum payment, the amount remaining in the Account after the first installment payment will be subject to adjustment (until distributed) to reflect the income and gain or loss on the investments in which such Account is deemed invested
pursuant to Section 8 and any expenses properly charged under the Plan and Trust to such Account. 
 9.8 Notice to Trustee. The
Administrator will notify the Trustee in writing whenever any Participant or Beneficiary is entitled to receive benefits under the Plan. The Administrator’s notice will indicate the form, amount and frequency of benefits that such Participant
or Beneficiary will receive. 
 9.9 Time of Distribution. Except as provided in Section 9.4, in no event shall a distribution to
a Participant be made or commence later than: 
  

	 	•	 	 the last day of the second month following the month in which the Participant attains the elected age specified in his or her initial Deferral Election (or any
distribution election under Section 6.8 or 6.9), or 

  

	 	•	 	 the last day of the second month following the month in which occurs the Participant’s Separation from Service or any applicable anniversary of such Separation
from Service (if such event or anniversary is the designated distribution event for the Participant’s Account), or 

  

	 	•	 	 the last day of the second month following the month in which the deferred commencement date designated in the Participant Extended Deferral Election occurs.

  

	10.	EFFECT OF DEATH OF A PARTICIPANT. 

 10.1 Distributions. In the event of a Participant’s death, whether before or after the distribution of his or her Account has commenced, the
entire unpaid balance of that Account shall be distributed to the Participant’s Beneficiary in a single lump sum cash payment. Such distribution shall be made as soon as administratively practicable after the date of the Participant’s
death, but in no event later than the later of (i) the close of the calendar year in which the Participant’s death occurs or (ii) the fifteenth (15th) day of the third (3rd) calendar month following the date of
the Participant’s death. 
  

 16 

 10.2 Beneficiary Designation. 
 (a) Upon enrollment in the Plan, each Participant shall file a prescribed form with the Administrator or its designate naming a
person or persons as the Beneficiary who will receive distributions payable under the Plan in the event of the Participant’s death. If the Participant does not name a Beneficiary, or if none of the named Beneficiaries is living at the time
payment is due, then the Beneficiary shall be the Participant’s spouse, or if none, the Participant’s children in equal shares, or if none, the Participant’s estate. 
 (b) The Participant may change the designation of a Beneficiary at any time in accordance with procedures established by the
Administrator. Designation of a Beneficiary, or an amendment or revocation thereof, shall be effective only if made in the prescribed manner and received by the Administrator prior to the Participant’s death. 
  

	11.	ESTABLISHMENT OF A TRUST. 

 11.1 Trust. The Participating Employers shall be responsible for the payment of benefits under the Plan attributable to their respective Eligible Employees and Eligible Directors. At their discretion, the
Participating Employers may establish one or more grantor trusts for the purpose of providing for the payment of benefits under the Plan; provided, however, that the establishment of such a trust shall not affect the status of the Plan
as an unfunded plan. Such trust or trusts may be irrevocable, but the assets thereof shall be subject to the claims of the Participating Employer’s creditors in the event of its bankruptcy or insolvency. Benefits paid the Participants from any
such trust shall be considered paid by the Participating Employer for purposes of meeting that Participating Employer’s obligations under the Plan. Notwithstanding the establishment of a trust, each Participating Employer reserves the right at
any time and from time to time to pay Plan benefits to Participants or their Beneficiaries in whole or in part from sources other than the Trust, in which case upon the Participating Employer’s request, that Participating Employer shall receive
a distribution from the Trust in an amount equal to the amount paid by that Participating Employer from sources other than the Trust to the Participant or Beneficiary in satisfaction of its obligations under the Plan, provided that such distribution
shall not exceed the amount of Trust assets previously allocated to such Participant or Beneficiary. 
 11.2 General Duties of
Trustee. The Trustee shall manage, invest and reinvest the Trust Fund as provided in the Trust Agreement. The Trustee shall collect the income on the Trust Fund and make distributions therefrom, all as provided in the Plan and in the Trust
Agreement. 
  

	12.	AMENDMENT AND TERMINATION. 

 12.1 Amendment by Employer. The Employer reserves the authority to amend the Plan in its sole discretion. Each such amendment will become effective on the designated effective date of that amendment. Any such
amendment notwithstanding, no Participant’s Account will be reduced by such amendment below the amount to which the Participant would have been entitled had his or her Separation from Service occurred immediately prior to the date of the
amendment. The Employer may from time to time make any amendment to the Plan that may be necessary to satisfy applicable requirements of the Code or ERISA. The Board or other individual(s) designated by the Board may act on behalf of the Employer
for purposes of this 

  

 17 

 
Section 12.1. In no event shall any amendment to the Plan adversely affect the distribution provisions in effect for the Participant Accounts maintained
under the Plan, and all amounts deferred prior to the date of any such Plan amendment shall continue to become due and payable in accordance with the distribution provisions of Sections 6, 9 and 10 as in effect immediately prior to such amendment.
Notwithstanding the foregoing, the Senior Vice President, Human Resources (or his or her authorized delegate) shall have the authority to adopt amendments to the Plan that are required by law or provide administrative practices or clarity
(specifically amendments not materially affecting either the financial obligation of the Company or the level of benefits provided to a Participant or a Beneficiary) through the Plan. Any such amendments made by the Senior Vice President, Human
Resources or his or her authorized delegate) shall be subject to the limitations set forth above. 
 12.2 Retroactive Amendments. An
amendment made by the Employer in accordance with Section 12.1 may be made effective on a date prior to the first day of the Plan Year in which adopted, if such amendment is necessary or appropriate to enable the Plan and Trust to satisfy the
applicable requirements of the Code or ERISA or to conform the Plan to any change in federal law or to any regulations or ruling thereunder. Any retroactive amendment by the Employer will be subject to the provisions of Section 12.1. The Board
or any officer of the Company designated by the Board, including the Senior Vice President, Human Resources, shall have the authority to act on behalf of the Employer for purposes of this Section 12.2 
  

 18 

 12.3 Termination. The Employer has adopted the Plan with the intention and expectation that
contributions will be continued indefinitely. However, the Employer has no obligation or liability whatsoever to maintain the Plan for any length of time and may suspend the Plan by discontinuing contributions under the Plan or terminate the Plan at
any time in its discretion without any liability hereunder for any such suspension or termination. Except as otherwise provided in Sections 12.3(a), (b) or (c) below, the termination of the Plan shall not affect the distribution provisions
in effect for the Participant Accounts maintained hereunder, and all amounts deferred prior to the date of any such Plan termination shall continue to become due and payable in accordance with the distribution provisions of Sections 6, 9 and 10 as
in effect immediately prior to such plan termination. 
 (a) Except as provided in Sections 12.3(b) and (c) below,
in the event of a termination of the Plan during a period in which the Employer has not experienced a financial downturn, the Participant Accounts maintained under the Plan may, in the Employer’s discretion, be distributed within the period
beginning twelve (12) months after the date the Plan is terminated and ending twenty-four (24) months after the date of such plan termination, or pursuant to Section 6, 9 or 10 of the Plan, if earlier. If the Plan is terminated and
Accounts are distributed, the Employer and the other Participating Employers shall also terminate and liquidate all other non-qualified elective account balance deferred compensation plans maintained by them and shall not adopt a new non-qualified
elective account balance deferred compensation plan for at least three (3) years after the date the Plan is terminated. 
 (b) The Employer and the other Participating Employers may terminate the Plan thirty (30) days prior to or within twelve (12) months following a Change of Control and distribute, within the twelve (12)-month period
following the termination of the Plan, the Accounts of the Participants affected by such Change in Control If the Plan is terminated and Accounts are distributed, the Employer and the other Participating Employers shall also terminate all other
non-qualified elective account balance deferred compensation plans sponsored by them in which such Participants participate, and all of the benefits accrued under those terminated plans by such Participants shall be distributed to them within twelve
(12) months following the termination of such plans. 
 (c) The Employer may terminate the Plan upon a corporate
dissolution of the Employer that is taxed under Section 331 of the Code or with the approval of a bankruptcy court pursuant to 11 U.S.C. Section 503(b)(1)(A), provided that the Participant Accounts are distributed and included in the gross
income of the Participants by the later of (i) the Plan Year in which the Plan terminates or (ii) the first Plan Year in which payment of the Accounts is administratively practicable. 
  

	13.	MISCELLANEOUS. 

 13.1 Withholding
Taxes. All distributions under the Plan shall be subject to reduction in order to reflect tax withholding obligations imposed by law. 
  

 19 

 13.2 Participant’s Unsecured Rights. The Account of any Participant, and such
Participant’s right to receive distributions from his or her Account, shall be considered an unsecured claim against the general assets of the Employer; such Accounts are unfunded bookkeeping entries. The Employer considers the Plan to be
unfunded for tax purposes and for purposes of Title I of ERISA. No Participant shall have an interest in, or make claim against, any specific asset of the Employer (or any other Participating Employer) pursuant to the Plan. 
 13.3 Limitation of Rights. Neither the establishment of the Plan and the Trust, nor any amendment thereof, nor the creation of any fund or
account, nor the payment of any benefits, will be construed as giving to any Participant or other person any legal or equitable right against any Participating Employer, the Administrator or the Trustee, except as provided herein. In no event shall
the terms of employment or service of any Participant be modified or in any way affected hereby. 
 13.4 Nonalienability of Benefits.
Except as provided in Sections 13.4(a) and (b) with respect to domestic relations orders, the benefits provided hereunder will not be subject to alienation, assignment, garnishment, attachment, execution or levy of any kind, either voluntarily
or involuntarily, and any attempt to cause such benefits to be so subjected will not be recognized, except to such extent as may be required by law. 
 (a) The procedures established by the Administrator for the determination of the qualified status of domestic relations orders and for making distributions under qualified domestic relations orders, as provided
in Section 206(d) of ERISA, shall apply to the Plan, to the extent applicable. 
 (b) To the extent required to
comply with a qualified domestic relations order, amounts awarded to an alternate payee under a qualified domestic relations order shall be distributed in the form of a lump sum distribution as soon as administratively feasible following the
determination of the qualified status of the domestic relations order. To the extent that the qualified domestic relations order does not require an immediate lump sum distribution, the alternate payee shall have all rights regarding investment
elections and distribution elections and withdrawal rights as if such alternate payee were a Participant. For purposes of determining distributions to an alternate payee, “Separation from Service” shall be the Separation from Service of
the Participant whose Account is the subject of the qualified domestic relations order. 
 13.5 Facility of Payment. In the event the
Administrator determines, on the basis of medical reports or other evidence satisfactory to the Administrator, that the recipient of any benefit payments under the Plan is incapable of handling his or her affairs by reason of minority, illness,
infirmity or other incapacity, the Administrator may direct the Trustee to disburse such payments to a person or institution designated by a court which has jurisdiction over such recipient or a person or institution otherwise having the legal
authority under state law for the care and control of such recipient. The receipt by such person or institution of any such payments will be complete acquittance therefore, and any such payment to the extent thereof, will discharge the liability of
the Participating Employer and the Trust for the payment of benefits hereunder to such recipient. 
  

 20 

 13.6 Governing Law. The validity, interpretation, construction and performance of the Plan shall
be governed by ERISA, and, to the extent that they are not preempted, by the laws of the State of California, excluding California’s choice-of-law provisions. 
 13.7 Section 409A Compliance. To the extent there is any ambiguity as to whether any provision of this Plan would otherwise contravene one or more requirements or limitations of Code Section 409A,
such provision shall be interpreted and applied in a manner that does not result in a violation of the applicable requirements or limitations of Code Section 409A and the Treasury Regulations thereunder. 
  

	14.	PLAN ADMINISTRATION. 

 14.1 Powers and Responsibilities of the Administrator. The Administrator has the full power and the full responsibility to administer the Plan in all of its details. The Administrator’s powers and responsibilities include, but
are not limited to, the following: 
 (a) To make and enforce such rules and regulations as it deems necessary or
proper for the efficient administration of the Plan; 
 (b) To interpret the Plan, with each such interpretation made
in good faith to be final and conclusive on all persons claiming benefits under the Plan; 
 (c) To decide all
questions concerning the Plan, the eligibility of any person to participate in the Plan and the amount of benefits to which such person may be entitled under the Plan; 
 (d) To administer the claims and review procedures specified in Section 14.2; 
 (e) To compute the amount of benefits which will be payable to any Participant or Beneficiary in accordance with the provisions of
the Plan; 
 (f) To determine the person or persons to whom such benefits will be paid; 
 (g) To authorize the payment of benefits; 
 (h) To comply with the reporting and disclosure requirements of Part 1 of Subtitle B of Title I of ERISA; 
 (i) To appoint such agents, counsel, accountants and consultants as may be required to assist in administering the Plan; and

 (j) By written instrument, to allocate and delegate its responsibilities, including the formation of an
Administrative Committee to administer the Plan. 
 14.2 Claims and Review Procedure. 
 (a) Informal Resolution of Questions. Any Participant or Beneficiary who has questions or concerns about his or her benefits under
the Plan may communicate with the Administrator. If this discussion does not give the Participant or Beneficiary satisfactory results, a formal claim for benefits may be made, within one year of the event giving rise to the claim, in accordance with
the procedures of this Section 14.2. 
  

 21 

 (b) Formal Benefits Claim – Review by Administrator. A Participant or
Beneficiary may make a written claim for his or her benefits under the Plan. The claim must be addressed to the Administrator, Deferred Compensation Plan, Gilead Sciences, Inc., 333 Lakeside Drive, Foster City, California 94404. The Administrator
shall decide the action to be taken with respect to any such claim and may require additional information if necessary to process the claim. The Administrator shall review the claim and shall issue its decision, in writing, no later than ninety
(90) days after the date the claim is received, unless the circumstances require an extension of time. If such an extension is required, written notice of the extension shall be furnished to the person making the claim within the initial ninety
(90-day period, and the notice shall state the circumstances requiring the extension and the date by which the Administrator expects to reach a decision on the claim. In no event shall the extension exceed a period of ninety (90) days from the
end of the initial period. 
 (c) Notice of Denied Claim. If the Administrator denies a claim in whole or in part, the
Administrator shall provide the person making the claim with written notice of the denial within the period specified in Section 14.2(b) above. The notice shall set forth the specific reason for the denial, reference to the specific Plan
provisions upon which the denial is based, a description of any additional material or information necessary to perfect the claim, an explanation of why such information is required, and an explanation of the Plan’s appeal procedures and the
time limits applicable to such procedures, including a statement of the claimant’s right to bring a civil action under Section 502(a) of ERISA following an adverse benefit determination on review. 
 (d) Appeal to Administrator. 
 (1) A person whose claim has been denied in whole or in part (or such person’s authorized representative) may file an appeal of the decision in writing with the Administrator within sixty (60) days of
receipt of the notification of denial. The appeal must be addressed to: Administrator, Deferred Compensation Plan, Gilead Sciences, Inc., 333 Lakeside Drive, Foster City, California 94404. The Administrator, for good cause shown, may extend the
period during which the appeal may be filed for another sixty (60) days. The appellant and/or his or her authorized representative shall be permitted to submit written comments, documents, records and other information relating to the claim for
benefits. Upon request and free of charge, the applicant should be provided reasonable access to and copies of, all documents, records or other information relevant to the appellant’s claim. 
 (2) The Administrator’s review shall take into account all comments, documents, records and other information submitted by the
appellant relating to the claim, without regard to whether such information was submitted or considered in the initial benefit determination. The Administrator shall not be restricted in its review to those provisions of the Plan cited in the
original denial of the claim. 
  

 22 

 (3) The Administrator shall issue a written decision within a reasonable period of
time but not later than sixty (60) days after receipt of the appeal, unless special circumstances require an extension of time for processing, in which case the written decision shall be issued as soon as possible, but not later than one
hundred twenty (120) days after receipt of an appeal. If such an extension is required, written notice shall be furnished to the appellant within the initial sixty (60)-day period. This notice shall state the circumstances requiring the
extension and the date by which the Administrator expects to reach a decision on the appeal. 
 (4) If the decision on
the appeal denies the claim in whole or in part written notice shall be furnished to the appellant. Such notice shall state the reason(s) for the denial, including references to specific Plan provisions upon which the denial was based. The notice
shall state that the appellant is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records, and other information relevant to the claim for benefits. The notice shall describe any voluntary
appeal procedures offered by the Plan and the appellant’s right to obtain the information about such procedures. The notice shall also include a statement of the appellant’s right to bring an action under Section 502(a) of ERISA.

 (5) The decision of the Administrator on the appeal shall be final, conclusive and binding upon all persons and
shall be given the maximum possible deference allowed by law. 
 (e) Exhaustion of Remedies. No legal or equitable
action for benefits under the Plan shall be brought unless and until the claimant has submitted a written claim for benefits in accordance with Section 14.2(b) above, has been notified that the claim is denied in accordance with
Section 14.2(c) above, has filed a written request for a review of the claim in accordance with Section 14.2(d) above, and has been notified in writing that the Administrator has affirmed the denial of the claim in accordance with
Section 14.2(d) above; provided, however, that an action for benefits may be brought after the Administrator has failed to act on the claim within the time prescribed in Section 14.2(b) and Section 14.2(d), respectively.

  

 23 

 14.3 Execution and Signature. To record the adoption of the Plan by the Board, the Company has
caused its duly authorized officer to affix the corporate name hereto: 
  

			
	GILEAD SCIENCES, INC.
		
	By:	 	/s/ Kristen M. Metza
		 	Kristen M. Metza
		 	Senior Vice President, Human Resources
	
	Dated: October 23, 2008

  

 24 

 ATTACHMENT A 
 PLAN INVESTMENT FUNDS AS OF OCTOBER 22, 2007 
  

			
	 Fund Name
	  	Fund Number
	 1. Fidelity Retirement Money Market Portfolio
	  	00630
	 2. Fidelity Intermediate Bond Fund
	  	00032
	 3. Fidelity Equity-Income Fund
	  	00023
	 4. Spartan U.S. Equity Index Fund
	  	00650
	 5. Spartan Extended Market Index
	  	00398
	 6. Fidelity Low-Priced Stock Fund*
     *Unavailable to New Participants after July 30, 2004.
	  	00316
	 7. Fidelity Growth Company Fund
	  	00025
	 8. T. Rowe Price Blue Chip Growth Fund
	  	93386
	 9. T. Rowe Price Real Estate Fund
	  	40587
	 10. American Beacon Small Cap Value Fund
	  	47008
	 11. Fidelity Diversified International Fund
	  	00325
	 12. Templeton Smaller Foreign Companies Fund-Class A
	  	93875
	 13. Fidelity Freedom Income Fund
	  	00369
	 14. Fidelity Freedom 2000 Fund
	  	00370
	 15. Fidelity Freedom 2005 Fund
	  	01312
	 16. Fidelity Freedom 2010 Fund
	  	00371
	 17. Fidelity Freedom 2015 Fund
	  	01313
	 18. Fidelity Freedom 2020 Fund
	  	00372
	 19. Fidelity Freedom 2025 Fund
	  	01314
	 20. Fidelity Freedom 2030 Fund
	  	00373
	 21. Fidelity Freedom 2035 Fund
	  	01315
	 22. Fidelity Freedom 2040 Fund
	  	00718

 For Eligible Directors Only 
 Common Stock of Gilead Sciences, Inc. (Phantom Shares) 
  

 25Gilead Sciences, Inc. Severance Plan

 Exhibit 10.27 
 GILEAD SCIENCES, INC. 
 SEVERANCE PLAN 
 Adopted on March 23, 2004, 
 to be effective January 29, 2003 

 Amended and Restated on May 9, 2006, 
 to be effective January 1, 2005 
 Amended and Restated on May 8, 2007 
 to be effective May 8, 2007 
 Amended on February 8, 2008 
 to be effective January 1, 2008 
 Amended on May 7, 2008 
 to be
effective May 7, 2008 
 Amended on December 15, 2008 
 to be effective January 1, 2009 

 TABLE OF CONTENTS 
  

					
	I.	  	INTRODUCTION	  	1
			
	II.	  	COMMENCEMENT OF PARTICIPATION	  	2
			
	III.	  	TERMINATION OF PARTICIPATION	  	2
			
	IV.	  	SEVERANCE PAY BENEFIT	  	2
			
	V.	  	TIME AND FORM OF SEVERANCE PAY BENEFIT	  	5
			
	VI.	  	DEATH OF A PARTICIPANT	  	7
			
	VII.	  	AMENDMENT AND TERMINATION	  	7
			
	VIII.	  	NON-ALIENATION OF BENEFITS	  	9
			
	IX.	  	SUCCESSORS AND ASSIGNS	  	9
			
	X.	  	LEGAL CONSTRUCTION	  	9
			
	XI.	  	ADMINISTRATION AND OPERATION OF THE PLAN	  	10
			
	XII.	  	CLAIMS, INQUIRIES AND APPEALS	  	11
			
	XIII.	  	BASIS OF PAYMENTS TO AND FROM PLAN	  	13
			
	XIV.	  	OTHER PLAN INFORMATION	  	13
			
	XV.	  	STATEMENT OF ERISA RIGHTS	  	14
			
	XVI.	  	AVAILABILITY OF PLAN DOCUMENTS FOR EXAMINATION	  	15
			
	XVII.	  	DEFINITIONS	  	15
			
	XVIII.	  	EXECUTION	  	20
		
	APPENDIX A Chief Executive Officer Severance Benefits	  	21
		
	APPENDIX B Executive Vice President and Senior Vice President Severance Benefits	  	25
		
	APPENDIX C Vice President and Senior Advisor Severance Benefits	  	29
		
	APPENDIX D Severance Benefits for Eligible Employees other than Chief Executive Officer, Executive Vice President, Senior Vice President, Vice President and Senior
Advisor	  	34

  

 i 

 GILEAD SCIENCES, INC. 
 SEVERANCE PLAN 
 AND 
 SUMMARY PLAN DESCRIPTION 
 (As Amended and Restated Effective January 1,
2009) 
  

	I.	INTRODUCTION 

 The
Gilead Sciences, Inc. Severance Plan (the “Plan”) was originally adopted by the Company effective January 29, 2003, and was subsequently amended and restated effective January 1, 2005, on May 9, 2006. The Plan was further
amended and restated on May 8, 2007 and subsequently amended in February and May 2008 in order to effect the following: (i) bring the Plan into documentary compliance with Section 409A of the Code and the final Treasury Regulations
thereunder and (ii) incorporate certain transitional relief in accordance with (A) Treasury Notice 2005-1, Q&A-19, as modified by the preamble to the proposed and the final regulations pursuant to Section 409A of the Code,
published in the Federal Register on October 4, 2005 and April 17, 2007, respectively, and (B) Treasury Notice 2007-86. This Plan and Summary Plan Description as so amended and restated effects such full documentary compliance under
Section 409A of the Code and the applicable Treasury Regulations, effective January 1, 2009, and replaces all severance or similar plans or programs of the Company previously in effect. The Company has no severance or similar plan or
program other than this Plan.1 
 The May 7, 2008
restatement of the Plan also revises the bonus component of the Severance Pay Benefit formulas in Appendix A, Appendix B and Appendix C to comply with Revenue Ruling 2008-13. Such amendment was effective as of May 7, 2008. 
 The Plan was further amended on December 15, 2008 to provide, effective as of January 1, 2009, that (i) the cash severance benefits to which individuals
covered by Appendix D may become entitled under the Plan shall be paid in a lump sum and (ii) the COBRA coverage costs that Participants may incur for the applicable period specified in Appendix A, B, C or D following their termination of
employment shall be paid in the form of a lump sum prepayment, subject to the Company’s collection of the applicable withholding taxes. 
 The purpose
of the Plan is to provide a Severance Pay Benefit to certain Eligible Employees whose employment with the Company terminates under certain prescribed circumstances. The Company is the Plan Administrator for purposes of the Employee Retirement Income
Security Act of 1974, as amended (“ERISA”). The Plan is intended to comply with the requirements of Section 409A of the Code. 
 Capitalized
terms used in this Plan shall have the meaning set forth in Section XVII. 
  

	 1
	 The Triangle Pharmaceuticals, Inc. Severance Plan remained in effect until January 23, 2004 and provided benefits
to employees of Triangle who were involuntarily terminated. 

  

 1 

	II.	COMMENCEMENT OF PARTICIPATION 

 An Eligible Employee shall commence
participation in the Plan upon the later of (i) January 29, 2003 or (ii) his or her date of hire. 
  

	III.	TERMINATION OF PARTICIPATION 

 A Participant’s participation in the
Plan shall terminate upon the occurrence of the earliest of the following: 
  

	(a)	The Participant’s employment terminates without meeting the requirements of Section IV(a)(i)(1). 

  

	(b)	The Participant’s employment terminates with a provision of Section IV(a)(ii) being applicable. 

  

	(c)	The Participant fails to meet the requirements of Section IV(a)(i)(2). 

  

	(d)	The Participant has received a complete distribution of his or her Severance Pay Benefit. 

  

	(e)	The Participant ceases to be an Eligible Employee (other than by reason of termination of his or her employment with the Company). 

  

	(f)	The Plan terminates. 

  

	IV.	SEVERANCE PAY BENEFIT 

  

	(a)	Eligibility for Severance Pay Benefit 

  

	 	(i)	Subject to Section IV(a)(ii), a Participant shall be eligible for a Severance Pay Benefit only if the Participant meets the requirements of Section IV(a)(i)(1) and Section
IV(a)(i)(2). 

  

	 	(1)	The Participant incurs a Separation from Service as a result of an involuntary termination of his or her Employee status by the Company because of a Company-wide or departmental
reorganization or a significant restructuring of the Participant’s job duties; provided, however, that a Participant’s Employee status shall also be deemed to have been involuntarily terminated by the Company if he or she resigns because
of (A) a transfer to a new work location that is more than 50 miles from his or her previous work location, and (B) in the case of a Participant whose Severance Pay Benefit is determined with reference to Appendix A, B or C, a Constructive
Termination (as defined in Section 11(d) of the 2004 Equity Incentive Plan) in conjunction with a Change in Control and within the time specified in Appendix A, B or C, as applicable. 

  

 2 

	 	(2)	The Participant executes the Release within the time frame prescribed therein, but in no event later than the forty-fifth (45th) day following his or her Separation from
Service, and the period (if any such period is prescribed in the Release) for revoking the execution of the Release under the Older Workers’ Benefit Protection Act, 29 U.S.C. § 626(f), expires without the Participant’s revocation of
such Release. 

 Under no circumstances shall a Participant be eligible for a Severance Pay Benefit under the Plan if he or she
terminates Employee status for the purpose of accepting employment with the entity that effectuates a Change in Control, its subsidiaries or affiliates. 
  

	 	(ii)	Notwithstanding Section IV(a)(i), a Participant shall be disqualified from receiving a Severance Pay Benefit upon the occurrence of any of the following: 

 

	 	(1)	The Participant voluntarily terminates Employee status for any reason prior to the termination date set by the Company; 

  

	 	(2)	The Participant’s Employee status is terminated by death or for cause (including, without limitation, gross misconduct or dereliction of duty) or for failure to meet
performance goals or objectives as determined by the Company; 

  

	 	(3)	If the Participant is receiving short-term sick leave benefits on the date his or her Employee status terminates, the Participant fails to execute and deliver to the Company, within
thirty (30) days after his or her Separation from Service, a written waiver of any short-term sick leave benefits that might otherwise be payable after such termination of Employee status; 

  

	 	(4)	The Participant terminates Employee status in order to accept employment with an organization that is wholly or partly owned (directly or indirectly) by the Company or an Affiliate;

  

	 	(5)	The Participant accepts any job with a Buyer or Outsourcing Supplier; 

  

	 	(6)	The Participant is offered full-time employment with a Buyer or Outsourcing Supplier at a new work location 50 miles or less from his or her previous work location with the Company
and taking such position would not result in a reduction in his or her Regular Earnings; 

  

	 	(7)	Except in the case of a Severance Pay Benefit payable on account of a Change in Control of the Company, the Participant received a severance benefit in connection with an
acquisition effected by the Company within 24 months prior to his or her Separation from Service; or 

  

 3 

	 	(8)	Except for a Severance Pay Benefit payable on account of a Change in Control of the Company, the Participant has not completed six months of Continuous Service as of the date of his
or her termination of Employee status; provided, however, that, effective May 8, 2007, such service requirement shall not be applicable to Employees who are Vice Presidents or in Grades 21 through 34. 

 The business decisions that may result in a Participant qualifying for a Severance Pay Benefit are decisions to be made by the Company in its sole
discretion. In making these decisions, similarly situated organizations, locations, functions, classifications, and/or Participants need not be treated in the same manner. Each Participant remains an employee at will, and the date selected by the
Company to terminate the Participant’s Employee status is within its sole discretion. 
  

	(b)	Amount of Severance Pay Benefit 

  

	 	(i)	Subject to Section IV(b)(ii), the Severance Pay Benefit payable to a Participant shall be as set forth in the applicable Appendix: 

  

	 	(1)	Appendix A – Chief Executive Officer. 

  

	 	(2)	Appendix B – Executive Vice Presidents and Senior Vice Presidents. 

  

	 	(3)	Appendix C – Vice Presidents and Senior Advisors 

  

	 	(4)	Appendix D – All Eligible Employees not covered by Appendix A, B, or C. 

 Senior Advisors covered under Appendix C shall only be eligible for a Severance Pay Benefit in connection with a Change in Control. 
  

	 	(ii)	Notwithstanding Section IV(b)(i), the total Severance Pay Benefit otherwise payable to a Participant under the Plan shall be subject to reduction (but not below zero) as follows:

  

	 	(1)	If a Participant is reemployed by the Company or an Affiliate within the number of weeks after his or her Separation from Service that is equal to the number of weeks taken into
consideration in calculating the Severance Pay Benefit, the total Severance Pay Benefit payable to such Participant shall be reduced to the dollar amount that the Participant’s Regular Earnings would have been for the period from the date of
termination to the date of reemployment. In all cases, the reduced benefit will be based on the Participant’s Regular Earnings used to calculate such Participant’s Severance Pay Benefit under the Plan. A Participant will be considered
“reemployed” under the Plan for purposes of the foregoing repayment provision if he or she is rehired as an Employee or if he or she is retained at a Company facility as or through a contractor for more than a full-time equivalent of more
than 45 work days. 

  

 4 

	 	(2)	If a Participant is employed by a Buyer or Outsourcing Vendor within the number of weeks after his or her Separation from Service that is equal to the number of weeks taken into
consideration in calculating the Severance Pay Benefit, the total Severance Pay Benefit payable to such Participant shall be reduced to the dollar amount that the Participant’s Regular Earnings would have been for the period from the date of
termination to the date of employment with the Buyer or Outsourcing Vendor. 

 Section IV(b)(ii)(2) may be waived in writing by
the Company in its sole discretion. 
  

	 	(3)	By severance pay or other similar benefits payable under any other plan or policy of the Company or an Affiliate or government required payment (other than unemployment compensation
under United States law), including, but not limited to, any benefit enhancement program adopted as part of a pension plan, but only to the extent the time and form of such alternative payments do not otherwise result in an impermissible
acceleration or deferral under Code Section 409A of the Severance Pay Benefit payable under this Plan. 

  

	 	(4)	By any amounts payable pursuant to the Worker Adjustment and Retraining Notification Act (“WARN”) or any other similar federal, state or local statute.

  

	 	(5)	By the amount of any indebtedness owed to the Company, but only to the extent such offset would not otherwise contravene any applicable limitations of Code Section 409A.

  

	(c)	Repayment of the Severance Pay Benefit 

 If the Participant
has received payment under the Plan in excess of the Severance Pay Benefit, as reduced in accordance with Section IV(b)(ii), the Participant must agree as a condition of reemployment that such excess will be repaid to the Company within sixty
(60) days after the date his or her reemployment commences. 
  

	V.	TIME AND FORM OF SEVERANCE PAY BENEFIT 

  

	(a)	 The Severance Pay Benefit for each Participant, other than a Participant whose Severance Pay Benefit is determined pursuant to Appendix D, shall be paid in equal
periodic installments over the total number of weeks taken into account in determining the amount of the Severance Pay Benefit to which such Participant is entitled. Except as set forth below, such installments shall be payable over the applicable
period on the regularly scheduled pay dates in effect for the Company’s salaried employees, beginning with the first such pay date within the sixty (60)-day period measured from the date of his or her Separation from Service on which both
(A) the Release delivered by the Participant in accordance with Section IV(a)(i)(2) is effective following the expiration of any applicable revocation period and (B) any waiver required of the Participant pursuant to 

  

 5 

	 	 
Section IV(a)(ii)(3) is delivered to the Company, but in no event shall the first such installment be paid later than the last day of such sixty (60)-day
period, provided such Release and waiver have each been delivered to the Company within the required time period following the Participant’s Separation from Service, as set forth in Section IV, and have not been revoked.

  

	(b)	For purposes of Section 409A of the Code, the Severance Pay Benefit payable pursuant to Section V(a) above shall be deemed to be a series of separate payments, with each
installment of the Severance Pay Benefit to be treated as a separate payment. 

  

	(c)	The Severance Pay Benefit for each Participant whose Severance Pay Benefit is determined pursuant to Appendix D shall be paid in a lump sum on the first regularly scheduled pay date
for the Participant’s former job and location that occurs within the sixty (60)-day period measured from the date of his or her Separation from Service on which both (A) the Release delivered by the Participant in accordance with Section
IV(a)(i)(2) is effective following the expiration of any applicable revocation period and (B) any waiver required of the Participant pursuant to Section IV(a)(ii)(3) is delivered to the Company, but in no event shall such lump sum payment be
made later than the last day of such sixty (60)-day period provided such Release and waiver have each been delivered to the Company within the required time period following the Participant’s Separation from Service, as set forth in Section IV,
and have not been revoked. 

  

	(d)	Notwithstanding any provision to the contrary in this Section V or any other Section of the Plan, other than Section V(e) and (f) below, no Severance Pay Benefit that is deemed
to constitute “nonqualified deferred compensation” within the meaning of and subject to Section 409A of the Code shall commence with respect to a Participant until the earlier of (i) the first day of the seventh (7th) month
following the date of such Participant’s Separation from Service or (ii) the date of his or her death, if the Participant is deemed at the time of such Separation from Service to be a Specified Employee and such delayed
commencement is otherwise required in order to avoid a prohibited distribution under Code Section 409A(a)(2). Upon the expiration of the applicable deferral period, all payments deferred pursuant to this Section V(d) shall be paid in a lump sum
to the Participant, and any remaining Severance Pay Benefit shall be paid in accordance with the schedule described in Section V(a) above or in a lump sum to the extent such Severance Pay Benefit is to be paid pursuant to Section V(c) above.

  

	(e)	 Notwithstanding Section V(d), should a Participant who is a Specified Employee at the time of his or her Separation from Service become entitled to a General
Severance Pay Benefit prior to the occurrence of a Change in Control, then the portion of that Severance Pay Benefit that does not exceed the dollar limit described below and is otherwise scheduled to be paid no later than the last day of the second
calendar year following the calendar year in which his or her Separation from Service occurs will not be subject to any deferred commencement date under Section V(c) and shall be paid to such Participant as it becomes due under Section V(a),
provided and only if such portion 

  

 6 

	 	 
qualifies as an involuntary separation pay plan in accordance with the requirements set forth in Section 1.409A-1(b)(9)(iii) of the Treasury
Regulations. For purposes of this paragraph (iii), the applicable dollar limitation will be equal to two (2) times the lesser of (A) the Participant’s annualized compensation (based on his or her annual rate of pay for the taxable
year preceding the taxable year of his or her Separation from Service, adjusted to reflect any increase during that taxable year which was expected to continue indefinitely had such Separation from Service not occurred) or (B) the compensation
limit under Section 401(a)(17) of the Code as in effect in the year of the Separation from Service. To the extent the portion of the Severance Pay Benefit to which such Participant would otherwise be entitled under Section V(a) during the
deferral period under Section V(c) exceeds the foregoing dollar limitation, such excess shall be paid in a lump sum upon the expiration of that deferral period, in accordance with the payment delay provisions of Section V(c), and the remainder of
the Severance Pay Benefit (if any) shall be paid in accordance with the schedule described in Section V(a). In no event, however, shall this Section V(d) be applicable to any Severance Pay Benefit (or any portion thereof) which does not qualify as
an involuntary separation pay plan under Section 1.409A-(b)(9)(iii) of the Treasury Regulations. 

  

	(f)	Section V(d) shall not apply to the lump sum prepayment of COBRA Coverage Costs under Appendix A through D to the extent the dollar amount of that prepayment does not exceed the
applicable dollar amount in effect under Section 402(g)(1)(B) of the Code for the calendar year in which the Participant’s Separation form Service occurs. 

  

	(g)	Notwithstanding any other provision of the Plan to the contrary, no distribution shall be made from the Plan that would constitute an impermissible acceleration of payment as
defined in Section 409A(3) of the Code and the Treasury Regulations thereunder. 

  

	(h)	No interest shall be paid on a Severance Pay Benefit required to be deferred in accordance with the foregoing. 

  

	VI.	DEATH OF A PARTICIPANT 

 If a Participant dies after
qualifying for a Severance Pay Benefit but before such benefit is completely paid, the balance of the Severance Pay Benefit shall be paid in a lump sum to the Participant’s Beneficiary not later than the later of (i) December 31 of
the year in which the Participant’s death occurred or (ii) the fifteenth (15th) day of the third (3rd) calendar month following the date of the Participant’s death. 
  

	VII.	AMENDMENT AND TERMINATION 

  

	(a)	General Rule. 

 Although the Company expects to continue
the Plan indefinitely, inasmuch as future conditions cannot be foreseen, (subject to Sections VII(b) and (c)) the Company reserves the right to amend or terminate the Plan at any time by action of its board of directors or by action of a committee
or individual(s) acting pursuant to a valid delegation of 

  

 7 

 
authority of the board of directors. However, no amendment or termination shall adversely affect the right of a Participant who incurs a Separation from
Service prior to the date of such amendment or termination to: 
  

	 	(i)	receive the unpaid balance of any Severance Pay Benefit that has become payable in accordance with the foregoing provisions of the Plan, with such balance to be paid in accordance
with the provisions of the Plan in effect immediately prior to such amendment or termination; or 

  

	 	(ii)	qualify for a Severance Pay Benefit upon the timely execution and delivery of the requisite Release after the date of such amendment or termination. 

  

	(b)	Restrictions on Amendments. 

 Notwithstanding Section
VII(a) of the Plan, and except to the extent required to comply with applicable law, no termination of the Plan and no amendment described below shall be effective if adopted within six months before or at any time after the public announcement of
an event or proposed transaction which would constitute a Change in Control (as such term is defined prior to such amendment); provided, however, that such an amendment or termination of the Plan may be effected, even if adopted after such a public
announcement, if (a) the amendment or termination is adopted after any plans have been abandoned to cause the event or effect the transaction which, if effected, would have constituted the Change in Control, and the event which would have
constituted the Change in Control has not occurred, and (b) within a period of six months after such adoption, no other event constituting a Change in Control has occurred, and no public announcement of a proposed transaction which would
constitute a Change in Control has been made, unless thereafter any plans to effect the Change in Control have been abandoned and the event which would have constituted the Change in Control has not occurred. 
 The amendments prohibited by this Section VII(b) include any amendment which is executed (or would otherwise become effective) at the request of a third
party who effectuates a Change in Control or any amendment which, if adopted and given effect would: 
  

	 	(i)	Deprive any individual who is an Eligible Employee as of the Change in Control of coverage under the Plan as in effect at the time of such amendment; 

  

	 	(ii)	Limit eligibility for or reduce the amount of any Severance Pay Benefit; or 

  

	 	(iii)	Amend Section VII, IX, or the definitions of the terms “Change in Control” or “Successors and Assigns” in Section XVII of the Plan. 

 No person shall take any action that would directly or indirectly have the same effect as any of the prohibited amendments or termination described in
this Section VII(b). 
  

 8 

	(c)	No Change in Payment Schedule 

 Under no circumstances
shall any amendment or termination of the Plan affect or modify the payment schedule in effect for a Participant’s Severance Pay Benefit in a manner which would otherwise result in an impermissible acceleration or deferral of that payment
schedule under Code Section 409A. 
  

	(d)	Amendments to Comply with Section 409A of the Code. 

 Notwithstanding any provision of Section VII to the contrary, the Company reserves the right, to the extent the Company deems necessary or advisable in its sole discretion, to unilaterally amend or modify this Plan as may be necessary to
ensure the Severance Pay Benefits provided under this Plan are made in a manner that qualifies for exemption from, or otherwise complies with, Section 409A of the Code; provided, however, that the Company makes no representation that the
Severance Pay Benefit provided under this Plan will be exempt from or comply with Section 409A of the Code and makes no undertaking to preclude Section 409A of the Code from applying to the Severance Pay Benefits provided under this Plan.

 To the extent there is any ambiguity as to whether any provision of this Plan would otherwise contravene one or more requirements or
limitations of Code Section 409A applicable to the Plan, such provision shall be interpreted and applied in a manner that does not result in a violation of the applicable requirements or limitations of Code Section 409A and the Treasury
Regulations thereunder. 
  

	VIII. 	NON-ALIENATION OF BENEFITS 

 To the full extent permitted
by law and except as expressly provided in the Plan, no Severance Pay Benefit shall be subject to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, or charge, and any attempt to do so shall be void. 
  

	IX.	SUCCESSORS AND ASSIGNS 

 The Plan shall be binding upon the
Company, its Successors and Assigns. Notwithstanding that the Plan may be binding upon such Successors and Assigns by operation of law, the Company shall require any Successor or Assign to expressly assume and agree to be bound by the Plan in the
same manner and to the same extent that the Company would be if no succession or assignment had taken place. 
  

	X.	LEGAL CONSTRUCTION 

 This Plan is governed by and shall be
construed in accordance with the Code and ERISA and, to the extent not preempted by ERISA, with the laws of the State of California. 
  

 9 

	XI.	ADMINISTRATION AND OPERATION OF THE PLAN 

  

	(a)	Plan Sponsor and Plan Administrator. 

 The Company is the
“Plan Sponsor” and the “Plan Administrator” of the Plan as such terms are used in ERISA. 
  

	(b)	Administrative Power and Responsibility. 

 The Company in
its capacity as Plan Administrator of the Plan is the named fiduciary that has the authority to control and manage the operation and administration of the Plan. The Company shall make such rules, regulations, interpretations, and computations and
shall take such other action to administer the Plan as it may deem appropriate. The Company shall have the sole discretion to interpret the provisions of the Plan and to determine eligibility for benefits pursuant to the objective criteria set forth
in the Plan. In administering the Plan, the Company shall at all times discharge its duties with respect to the Plan in accordance with the standards set forth in section 404(a)(l) of ERISA. The Company may engage the services of such persons or
organizations to render advice or perform services with respect to its responsibilities under the Plan as it shall determine to be necessary or appropriate. Such persons or organizations may include (without limitation) actuaries, attorneys,
accountants and consultants. 
  

	(c)	Review Panel. 

 Upon receipt of a request for review, the
Company shall appoint a Review Panel that shall consist of three or more individuals. The Review Panel shall be the named fiduciary that shall have authority to act with respect to appeals from denial of benefits under the Plan. 
  

	(d)	Service in More Than One Fiduciary Capacity. 

 Any person
or group of persons may serve in more than one fiduciary capacity with respect to the Plan. 
  

	(e)	Performance of Responsibilities. 

 The responsibilities of
the Company under the Plan shall be carried out on its behalf by its officers, employees, and agents. The Company may delegate any of its fiduciary responsibilities under the Plan to another person or persons pursuant to a written instrument that
specifies the fiduciary responsibilities so delegated to each such person. 
  

	(f)	Employee Communications and Other Plan Activities. 

 In
communications with its employees and in any other activities relating to the Plan, the Company shall comply with the rules, regulations, interpretations, computations, and instructions that were issued to administer the Plan. With respect to
matters relating 

  

 10 

 
to the Plan, directors, officers, and employees of the Company shall act on behalf or in the name of the Company in their capacity as directors, officers,
and employees and not as individual fiduciaries. 
  

	XII. 	CLAIMS, INQUIRIES AND APPEALS 

  

	(a)	Claims for Benefits and Inquiries. 

 All claims for
benefits and all inquiries concerning the Plan or present or future rights to benefits under the Plan, shall be submitted to the Plan Administrator in writing and addressed as follows: “Gilead Sciences, Inc., Plan Administrator under the Gilead
Sciences, Inc. Severance Plan, 333 Lakeside Drive, Foster City, CA 94404 “ or such other location as communicated to the Participant. A claim for benefits shall be signed by the Participant, or if a Participant is deceased, by such
Participant’s spouse or registered domestic partner, designated beneficiary or estate, as the case may be. 
  

	(b)	Denials of Claims. 

 In the event that any claim for
benefits is denied, in whole or in part, the Plan Administrator shall notify the claimant in writing of such denial and of the right to a review thereof. Such written notice shall set forth in a manner calculated to be understood by the claimant,
specific reasons for such denial, specific references to the Plan provision on which such denial is based, a description of any information or material necessary to perfect the claim, an explanation of why such material is necessary, an explanation
of the Plan’s review procedure which includes information on how to appeal the denial and a statement regarding the claimant’s right to bring a civil action under ERISA section 502(a) following an adverse benefit determination on review.
Such written notice shall be given to the claimant within 90 days after the Plan Administrator receives the claim, unless special circumstances require an extension of time of up to an additional 90 days for processing the claim. If such an
extension of time for processing is required, written notice of the extension shall be furnished to the claimant prior to the termination of the initial 90-day period. This notice of extension shall indicate the special circumstances requiring the
extension of time and the date by which the Plan Administrator expects to render its decision on the claim for benefits. The claimant shall be permitted to appeal such denial in accordance with the Review Procedure set forth below. 
  

	(c)	Review Panel. 

 The Plan Administrator shall appoint a
“Review Panel,” consisting of three or more individuals who may (but need not) be employees of the Company. The Review Panel shall be the named fiduciary that has the authority to act with respect to any appeal from a denial of benefits.

  

 11 

	(d)	Requests for a Review. 

 Any person whose claim for
benefits is denied in whole or in part, or such person’s duly authorized representative, may appeal from such denial by submitting a request for a review of the claim to the Review Panel within 60 days after receiving written notice of such
denial from the Plan Administrator. A request for review shall be in writing and shall be addressed as follows: “Review Panel under the Gilead Sciences, Inc. Severance Plan, 333 Lakeside Drive, Foster City, CA 94404” or such other location
as communicated to the Participant. A request for review shall set forth all of the grounds on which it is based, all facts in support of the request and any other matters that the claimant deems pertinent. As part of the review procedure, the
claimant or the claimant’s duly authorized representative may submit written comments, documents, records and other information related to the claim. The Review Panel will consider all comments, documents, records and other information
submitted by the claimant or the claimant’s duly authorized representative relating to the claim, without regard to whether such information was submitted or considered in the initial benefit determination. The claimant will be provided, upon
request and free of charge, reasonable access to and copies of all documents, records or other information (all of which must not be privileged) relevant to the benefit claim. The Review Panel may require the claimant to submit such additional
facts, documents or other material as it may deem necessary or appropriate in making its review. 
  

	(e)	Decision on Review. 

 The Review Panel shall act on each
request for review and notify the claimant within 60 days after receipt thereof unless special circumstances require an extension of time, up to an additional 60 days, for processing the request. If such an extension for review is required, written
notice of the extension shall be furnished to the claimant within the initial 60-day period. The Review Panel shall give prompt, written notice of its decision to the claimant and to the Plan Administrator. In the event that the Review Panel
confirms the denial of the claim for benefits, in whole or in part, such notice shall set forth, in a manner calculated to be understood by the claimant, the specific reasons for such denial, specific references to the Plan provisions on which the
decision is based, a statement that the claimant is entitled to receive, upon request and free of charge, reasonable access to and copies of all documents, records and other information relevant to the benefit claim, a statement describing any
voluntary appeal procedures offered by the Plan and the claimant’s right to obtain information about such procedures, and a statement informing the claimant of his or her right to bring a civil action under ERISA section 502(a). 
  

	(f)	Rules and Procedures. 

 The Review Panel shall establish
such rules and procedures, consistent with the Plan and with ERISA, as it may deem necessary or appropriate in carrying out its responsibilities under this Section XII. The Review Panel may require a claimant who wishes to submit additional
information in connection with an appeal from the denial of benefits to do so at the claimant’s own expense. 
  

 12 

	(g)	Exhaustion of Remedies. 

 No legal action for benefits
under the Plan shall be brought unless and until the claimant: 
  

	 	(i)	has submitted a written claim for benefits in accordance with Section XII(a); 

  

	 	(ii)	has been notified by the Plan Administrator that the claim is denied; 

  

	 	(iii)	has filed a written request for a review of the claim in accordance with Section XII(d); and 

  

	 	(iv)	has been notified in writing that the Review Panel has affirmed the denial of the claim. 

  

	XIII. 	BASIS OF PAYMENTS TO AND FROM PLAN 

 All Severance Pay
Benefits under the Plan shall be paid by the Company. The Plan shall be unfunded and benefits hereunder shall be paid only from the general assets of the Company. 
  

	XIV. 	OTHER PLAN INFORMATION 

  

	(a)	Plan Identification Numbers. 

 The Employer Identification
Number (EIN) assigned to the Plan Sponsor (Gilead Sciences, Inc.) by the Internal Revenue Service is 94-3047598. The Plan Number (PN) assigned to the Plan by the Plan Sponsor pursuant to instructions of the Internal Revenue Service is 508.

  

	(b)	Ending Date of the Plan’s Fiscal Year. 

 The date of
the end of the year for the purpose of maintaining the Plan’s fiscal records is December 31. 
  

	(c)	Agent for the Service of Legal Process. 

 The agent for the
service of legal process with respect to the Plan is the Secretary of Gilead Sciences, Inc., 333 Lakeside Drive, Foster City, CA 94404. The service of legal process may also be made on the Plan by serving the Plan Administrator. 
  

	(d)	Plan Sponsor and Administrator. 

 The “Plan
Sponsor” and the “Plan Administrator” of the Plan is Gilead Sciences, Inc., 333 Lakeside Drive, Foster City, CA 94404; 650-522-5800 or such other location as communicated to the Participant. The Plan Administrator is the named
fiduciary charged with responsibility for administering the Plan. 
  

 13 

	XV. 	STATEMENT OF ERISA RIGHTS 

  

	(a)	As a participant in this Plan (which is a welfare plan sponsored by the Company), you are entitled to the following rights and protection under ERISA: 

  

	(b)	Examine, without charge, at the Plan Administrator’s office and at other specified locations such as work sites, all Plan documents, collective bargaining agreements and copies
of all documents filed by the Plan with the U.S. Department of Labor and available at the Public Disclosure of the Employee Benefits Security Administration. 

  

	(c)	Obtain copies of all Plan documents and other Plan information upon written request to the Plan Administrator. The Plan Administrator may make a reasonable charge for the copies.

  

	(d)	In addition to creating rights for Plan Participants, ERISA imposes duties upon the people responsible for the operation of the employee benefit Plan. The people who operate your
Plan, called “fiduciaries” of the Plan, have a duty to do so prudently and in the interest of you and other Plan Participants and Beneficiaries. 

  

	(e)	No one, including your employer, your union, nor any other person, may fire you or otherwise discriminate against you in any way to prevent you from obtaining a Plan benefit or
exercising your rights under ERISA. If your claim for a Plan benefit is denied in whole or in part, you must receive a written explanation of the reason for the denial. You have the right to have the claim reviewed and reconsidered.

  

	(f)	Under ERISA, there are steps you can take to enforce the above rights. For instance, if you request materials from the Plan and do not receive them within 30 days, you may file suit
in a federal court. In such a case, the court may require the Plan Administrator to provide the materials and pay you up to $110 a day until you receive the materials, unless the materials were not sent because of reasons beyond the control of the
Plan Administrator. If you have a claim for benefits which is denied or ignored, in whole or in part, you may file suit in a state or federal court. If it should happen that the Plan fiduciaries misuse the Plan’s money, or if you are
discriminated against for asserting your rights, you may seek assistance from the U.S. Department of Labor, or you may file suit in a federal court. The court will decide who should pay court costs and legal fees. If you are successful, the court
may order the person you have sued to pay these costs and fees. If you lose, the court may order you to pay these costs and fees, for example, if it finds your claim is frivolous. 

  

	(g)	If you have any questions about your Plan, you should contact the Plan Administrator. If you have any questions about this statement or about your rights under ERISA, you should
contact the nearest office of the Employee Benefits Security Administration, U.S. Labor, listed in your telephone directory or the Division of Technical Assistance and Inquiries, Employee Benefits Security Administration, U.S. Department of Labor,
200 Constitution Avenue N.W., Washington, D.C. 20210. You may also obtain certain publications about your rights and responsibilities under ERISA by calling the publications hotline of the Employee Benefits Security Administration.

  

 14 

	XVI. 	AVAILABILITY OF PLAN DOCUMENTS FOR EXAMINATION 

 ERISA
requires Gilead Sciences, Inc., as the Plan Administrator of a benefit plan sponsored by the Company, to make available for your examination the Plan documents under which the Plan is established and operated. 
 The pertinent Plan documents include official Plan texts and any other documents under which the Plan is established or operated, and applicable
collective bargaining agreements. 
 These Plan documents are available for your examination at the Plan Administrator’s office, 333
Lakeside Drive, Foster City, CA 94404, and at certain other locations such as the Company’s Human Resources offices. 
  

	XVII. 	DEFINITIONS 

  

	(a)	“Affiliate” means a member of the Affiliated Group other than Gilead Sciences, Inc. and any Subsidiary. 

  

	(b)	“Affiliated Group” means the Company and each member of the group of commonly controlled corporations or other businesses that include the Company, as determined in
accordance with Section 414(b) and (c) of the Code and the Treasury Regulations issued thereunder. 

  

	(c)	“Beneficiary” means the person or persons so designated by a Participant. A Participant may change or revoke a designation of a Beneficiary at any time. To be effective,
any designation of a Beneficiary, or any change or revocation thereof, must be made in writing on the prescribed form and must be received by the Company (in a form acceptable to the Company) before the Participant’s death. If a Participant
fails to make a valid designation of a Beneficiary, or if the validly designated Beneficiary is not living when a payment is to be made to such Beneficiary hereunder, the Participant’s Beneficiary shall be the Participant’s spouse or
registered domestic partner if then living or, if not, the Participant’s estate. 

  

	(d)	“Buyer” means an entity that purchases (or has purchased) some or all of the Affiliated Group’s interest applicable to the operation in which the Participant is
employed, or an entity that is a direct or indirect successor in ownership or management of the operation in which the Participant is employed. Notwithstanding the above, Buyer shall not include the entity that effectuates a Change in Control.

  

	(e)	“Change in Control” means an event which constitutes a change in control of the Company as defined in Section 2(i) of the Gilead Sciences, Inc. 2004 Equity Incentive
Plan, as it may be amended from time to time or any successor to such provision. 

  

	(f)	“Code” means the Internal Revenue Code of 1986, as amended from time to time, and the regulations promulgated thereunder. 

  

 15 

	(g)	“Company” means Gilead Sciences, Inc. Where the context requires, “Company” also includes its Subsidiaries, and any of their Successors and Assigns.

  

	(h)	“Continuous Service” means the sum of the following: 

  

	 	(i)	Any period of time during which a person qualifies as an Eligible Employee or, having once so qualified, is on a leave of absence with pay, a paid vacation or holiday or is
receiving benefits under the Company’s short-term disability plan; or; 

  

	 	(ii)	Any other period that constitutes Continuous Service under written rules or procedures adopted from time to time by the Company, subject to such terms and conditions as the Company
may establish; and any period of time while employed by the Company’s Successor or Assigns that that would have constituted Continuous Service if the service had been with the Company prior to the Change in Control. 

 If an Eligible Employee’s Continuous Service is interrupted and the Eligible Employee subsequently returns to a status that constitutes Continuous
Service, such prior Continuous Service shall be disregarded for all purposes of the Plan, except that if an Eligible Employee is reemployed within one year following termination of Continuous Service, all prior Continuous Service and the time period
between the date of termination and reemployment will be considered Continuous Service. 
  

	(i)	“Determination Date” means each December 31. 

  

	(j)	“Eligible Employee” means any common law employee on the U.S. dollar payroll of the Company or any Subsidiary who (i) is not on the payroll of a person other than the
Company or such Subsidiary and is for any reason deemed by the Company or any Subsidiary to be a common law employee of the Company or such Subsidiary; (ii) is not considered by the Company or any Subsidiary in its sole discretion to be an
independent contractor, regardless of whether the individual is in fact a common law employee of the Company or such Subsidiary; and (iii) who at the time of his or her Separation from Service with the Company or such Subsidiary is not on a
Leave of Absence Without Pay. An individual’s status as an Eligible Employee shall be determined by the Company in its sole discretion, and such determination shall be conclusively binding on all persons. Notwithstanding the foregoing,
“Eligible Employee” does not include an employee or former employee of an entity the stock or assets of which are acquired by the Company or any Subsidiary, unless and until the Company’s management determines that the Plan shall be
applicable to such employees or former employees. 

  

	(k)	 “Employer Group” means the Company and each other member of the group of commonly controlled corporations or other businesses that include the Company, as
determined in accordance with Sections 414(b) and (c) of the Code and the Treasury Regulations thereunder, except that in applying Sections 1563(1), (2) and (3) of the Code for purposes of determining the controlled group of
corporations under Section 414(b), the phrase “at least 50 percent” shall be used instead of “at least 80 percent” each place 

  

 16 

	 	 
the latter phrase appears in such sections, and in applying Section 1.414(c)-2 of the Treasury Regulations for purposes of determining trades or
businesses that are under common control for purposes of Section 414(c), the phrase “at least 50 percent” shall be used instead of “at least 80 percent” each place the latter phrase appears in Section 1.4.14(c)-2 of the
Treasury Regulations. 

  

	(l)	“Employee” means an individual for so long as he or she is in the employ of at least one member of the Employer Group, subject to the control and direction of the employer
entity as to both the work to be performed and the manner and method of performance. 

  

	(m)	“ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time-to-time. 

  

	(n)	“Family Leave” means a leave under the Company’s family leave policy. 

  

	(o)	“Leave of Absence Without Pay” means a leave of absence without pay under the Company’s leave of absence policy. 

  

	(p)	“Outsourcing Supplier” means an entity to whom the Company outsources a function performed by Eligible Employees where the Company agrees with such entity in the
outsourcing agreement that it will offer jobs to current Eligible Employees performing that function for the Company. 

  

	(q)	“Participant” means any Eligible Employee who has commenced participation in the Plan pursuant to Section II and whose participation has not terminated pursuant to Section
III. 

  

	(r)	“Plan” means the Gilead Sciences, Inc. Severance Plan. 

  

	(s)	“Plan Administrator” means the Company. 

  

	(t)	“Regular Earnings” means straight-time wages or salary paid to a Participant by any entity within the Employer Group for working a regular work schedule or for a leave of
absence with pay, and shall include any amount that is contributed to any employee benefit plan on behalf of the Participant by any entity within the Employer Group under a salary reduction agreement entered into pursuant to such plan and that is
excluded from the Participant’s gross income under section 125, 132(f), or 402(g) of the Code. 

  

	(u)	“Release” means a Release in the form prescribed by the Company in its sole discretion, pursuant to which the Participant shall waive all employment-related claims in
connection with his or her employment with the Employer Group and the termination of that employment, other than claims for benefits under the actual terms of an employee benefit plan and worker’s compensation. For employees subject to the Age
Discrimination in Employment Act, such Release shall be structured so as to comply with the requirements of the Older Workers’ Benefit Protection Act, 29 U.S.C. § 626(f). The form of Release may vary among categories of employees and from
employee to employee within any category of employees. 

  

 17 

	(v)	“Severance Pay Benefit” means a benefit provided by the Plan, as determined pursuant to Section IV. 

  

	(w)	“Specified Employee” shall mean a “key employee” (within the meaning of that term under Code Section 416(i)). Effective as of January 1, 2005, a
Specified Employee is an Eligible Employee who, at any time during the twelve (12)-month period ending with the applicable Determination Date, is: 

  

	 	(i)	An officer of the Company or any other member of the Affiliated Group having aggregate annual compensation from the Company and/or one or more other members of the Affiliated Group
greater than the compensation limit in effect at the time under Section 416(i)(1)(A)(i) of the Code, provided that no more than fifty officers of the Company shall be determined to be Specified Employees as of any Determination Date;

  

	 	(ii)	A five percent owner of the Company or any other member of the Affiliated Group; or 

  

	 	(iii)	A one percent owner of the Company or any other member of the Affiliated Group who has aggregate annual compensation from the Company and/or one or more other members of the
Affiliated Group of more than $150,000. 

 If an Eligible Employee is determined to be a Specified Employee on a Determination
Date, then such Eligible Employee shall be considered a Specified Employee for purposes of the Plan during the period beginning on the first April 1 following the Determination Date and ending on the next March 31. 
 For purposes of determining an officer’s compensation when identifying Specified Employees, compensation is defined in accordance with Treas. Reg.
§1.415(c)–2(a), without applying any safe harbor, special timing or other special rules described in Treas. Reg. §§ 1.415(c)–2(d), 2(e) and 2(g). 
  

	(x)	“Subsidiary” means any corporation with respect to which Gilead Sciences, Inc., one or more Subsidiaries, or Gilead Sciences, Inc., together with one or more Subsidiaries,
own not less than 80% of the total combined voting power of all classes of stock entitled to vote, or not less than 80% of the total value of all shares of all outstanding classes of stock. 

  

	(y)	“Successors and Assigns” means a corporation or other entity acquiring all or substantially all the assets and business of the Company (including the Plan) whether by
operation of law or otherwise. 

  

	(z)	“Separation from Service” means the Participant’s cessation of Employee status. For purposes of the Plan, a Separation from Service shall be determined in accordance
with the following standards: 

  

 18 

 A Separation from Service will not be deemed to have occurred if the Participant continues to provide
services to one or more members of the Employer Group (whether as a common-law employee or non-employee consultant or contractor) at an annual rate that is 50% or more of the services rendered, on average, during the immediately preceding 36-months
of employment with the Employer Group (or if employed by the Employer Group less than 36 months, such lesser period). 
 A Separation from
Service will be deemed to have occurred if the Participant’s service with the Employer Group (whether as a common-law employee or non-employee consultant or contractor) is permanently reduced to an annual rate that is less than 20% of the
services rendered, on average, during the immediately preceding 36 months of employment with the Employer Group (or if employed by the Employer Group less than 36 months, such lesser period). 
 If such services are permanently reduced by more than 20% but less than 50% of the average over the prior 36 months (or lesser period), a Separation from
Service may be deemed to occur based on the facts and circumstances, including, but not limited to, whether the Participant is treated as an employee for other purposes, such as participation in employee benefit programs, and whether the Participant
is able to perform services for other unrelated entities. 
 In addition to the foregoing, a Separation from Service will not be deemed to
have occurred while the Participant is on military leave, sick leave, or other bona fide leave of absence if the period of such leave does not exceed six months or any longer period for which such Participant’s right to
reemployment with one or more members of the Employer Group is provided either by statute or contract; provided, however, that in the event of a Participant’s leave of absence due to any medically determinable physical or mental
impairment that can be expected to result in death or to last for a continuous period of not less than six (6) months and that causes such individual to be unable to perform his or her duties as an Employee, no Separation from Service shall be
deemed to occur during the first twenty-nine (29) months of such leave. If the period of leave exceeds six (6) months (or twenty-nine (29) months in the event of disability as indicated above) and the Participant’s right to
reemployment is not provided either by statute or contract, then such Participant will be deemed to have a Separation from Service on the first day immediately following the expiration of such six (6)-month or twenty-nine (29)-month period.

 This definition of Separation from Service shall not be interpreted as limiting the right of the Company or any other member of the
Employer Group to terminate the employment of an individual while on military leave, sick leave or other bona fide leave of absence, to the extent permissible under applicable law. 
  

	(aa)	“2004 Equity Incentive Plan” means the Gilead Sciences, Inc. 2004 Equity Incentive Plan, as it may be amended from time to time or any successor to such provision

  

 19 

	(bb)	“Year of Continuous Service” means the number of days (as defined by the Company in written rules adopted by it from time to time) of Continuous Service, divided by 365. A
Participant’s Severance Pay Benefit calculation shall include both full and any partial Years of Continuous Service. 

  

	XVIII. 	EXECUTION 

 The Company has caused its duly-authorized
officer to execute the foregoing Plan as amended and restated effective as of January 1, 2009. 
  

	
	GILEAD SCIENCES, INC.
	
	/s/ Kristen M. Metza
	By: Kristen M. Metza
	Senior Vice President, Human Resources
	
	Date: December 15, 2008

  
  
  
  

 20 

 APPENDIX A 
 Chief Executive Officer 
 Severance Benefits 
  

	A.	Change in Control Severance Pay Benefit. 

 If a Severance
Pay Benefit under Section IV(a)(i) becomes payable either within the 24-month period following a Change in Control or within the applicable period, as specified in the definition thereof in Section 11(d) of the 2004 Equity Incentive Plan, that
precedes such Change in Control (the “Change in Control Period”), the Severance Pay Benefit shall be: 
  

	 	1.	Three times annual Regular Earnings plus three times the average of the annual bonuses paid to the Participant (or otherwise earned but deferred in whole in part) under the
Company’s annual bonus plan applicable to the Participant for the three fiscal years (or such fewer number of complete fiscal years of employment) immediately preceding the fiscal year in which the Participant’s employment terminates.

  

	 	2.	 A lump sum cash payment (the “Lump Sum Health Care Payment”) in an amount equal to thirty-six (36) times the amount by which (i) the
monthly cost that would be payable by the Participant, as measured as of the date of his or her termination of employment, to obtain continued medical care coverage for the Participant and his or her spouse and eligible dependents under the
Company’s employee group health plan, pursuant to their COBRA rights, at the level in effect for each of them on the date of such termination of employment exceeds (ii) the monthly amount payable at such time by a similarly-situated
executive whose employment with the Company has not terminated to obtain group health care coverage at the same level. The Company shall pay the Lump Sum Health Care Payment to the Participant on the earlier of (A) the first
regularly scheduled pay date for the Participant’s former job and location that occurs within the sixty (60)-day period measured from the date of his or her Separation from Service on which both (A) the Release delivered by the Participant
in accordance with Section IV(a)(i)(2) of the Plan is effective following the expiration of any applicable revocation period and (B) any waiver required of the Participant pursuant to Section IV(a)(ii)(3) of the Plan is delivered to the
Company, but in no event shall such payment be made later than the last day of such sixty (60)-day period, provided such Release and waiver have each been delivered to the Company within the required time period following the Participant’s
Separation from Service, as set forth in Section IV, and have not been revoked. Notwithstanding the foregoing, the Lump Sum Health Care Payment shall be subject to the deferred payment provisions of Section V(d) of the Plan, to the extent such
payment exceeds the applicable dollar amount under section 402(g)(1) 

  

 21 

	 	 
of the Code for the year in which the Participant’s Separation from Service occurs. The Lump Sum Health Care Payment shall constitute taxable income to
the Participant and shall be subject to the Company’s collection of all applicable withholding taxes, and the Participant shall receive only the portion of the Lump Sum Health Care Payment remaining after such withholding taxes have been
collected. It shall be the sole responsibility of the Participant and his or her spouse and eligible dependents to obtain actual COBRA coverage under the Company’s group health care plan. 

  

	 	3.	Outplacement services for 12 months following the date of Separation from Service. 

  

	 	4.	 An additional payment in an amount such that after payment by the Participant of all taxes (including, without limitation, any income and employment taxes and any
interest and penalties imposed thereon) and the excise tax imposed on such additional payment pursuant to Section 4999 of the Code, there remains an amount equal to the excise tax imposed pursuant to Section 4999 of the Code on the
Severance Pay Benefit and any other payment in the nature of compensation that constitutes a “parachute payment” under Section 280G of the Code (the “Excise Tax”). All calculations required pursuant to this provision shall
be performed by an independent registered public company accounting firm retained by the Company for such purpose and shall be based on information supplied by the Company and the Participant. For any parachute payments occurring at the time of the
Change in Control, the relevant calculations shall be completed within ten (10) business days after the effective date of such Change in Control, and for any parachute payments attributable to the Participant’s Separation from Service, the
calculations shall be completed within ten (10) business days after the effective date of such Separation from Service. Such calculations shall be conclusive and binding on all interested persons. The additional payment resulting from such
calculations shall be made to the Participant within ten (10) business days following the completion of such calculations or (if later) at the time the related Excise Tax is remitted to the appropriate tax authorities. In the event that the
Participant’s actual Excise Tax liability is determined by a Final Determination to be greater than the Excise Tax liability taken into account for purposes of the additional payment initially made to the Participant pursuant to the preceding
provisions of this section A.4, then within forty-five (45) days following that Final Determination, the Participant shall notify the Company of such determination, and a new Excise Tax calculation based upon that Final Determination shall
be made within the next forty-five (45) days. The Company shall make a supplemental tax gross up payment (as calculated in the same manner as the initial payment hereunder) to the Participant attributable to that excess Excise Tax liability
within ten (10) business days following the completion of the applicable calculations or (if later) at the time such excess tax liability is remitted to the appropriate tax authorities. In the event that the Participant’s actual Excise Tax
liability is determined by a Final Determination to be less than the 

  

 22 

	 	 
Excise Tax liability taken into account for purposes of the additional payment made to him or her pursuant to the preceding provisions of this
section A.4, then the Participant shall refund to the Company, promptly upon receipt, any federal or state tax refund attributable to the Excise Tax overpayment. For purposes of this section A.4, a “Final Determination” means an
audit adjustment by the Internal Revenue Service that is either (i) agreed to by both the Participant and the Company (such agreement by the Company to be not unreasonably withheld) or (ii) sustained by a court of competent jurisdiction in
a decision with which the Participant and the Company concur or with respect to which the period within which an appeal may be filed has lapsed without a notice of appeal being filed. Notwithstanding anything to the contrary in the foregoing, the
additional payment and any supplemental payments under this section A.4 shall be subject to the hold-back provisions of Section V(c) of the Plan, to the extent those payments relate to any amounts and benefits provided hereunder that constitute
parachute payments attributable to the Participant’s Separation from Service. In addition, such additional payment and any supplemental payments shall in no event be made later than the end of the calendar year that follows the calendar year in
which the related taxes are remitted to the appropriate tax authorities, or such other specified time or schedule that may be permitted under Section 409A of the Code. 

  

	B.	Severance Pay Benefit. 

 If a Severance Pay Benefit under
Section IV(a)(i) becomes payable upon completion of six or more months of Continuous Service and at any time other than within the Change in Control Period as defined in paragraph A of the Appendix A, then the Severance Pay Benefit shall be:

  

	 	1.	Two times annual Regular Earnings plus two times the amount determined by multiplying (i) the average of the annual bonuses paid to the Participant (or otherwise earned but
deferred in whole in part) under the Company’s annual bonus plan applicable to the Participant for the three fiscal years (or such fewer number of complete fiscal years of employment) immediately preceding the fiscal year in which the
Participant’s employment terminates by (ii) a fraction the numerator of which is the number of months of employment (rounded to the next whole month) completed by the Participant in the fiscal year in which his or her employment terminates
and the denominator of which is 12. 

  

	 	2.	 A lump sum cash payment (the “Lump Sum Health Care Payment”) in an amount equal to twenty-four (24) times the amount by which (i) the
monthly cost that would be payable by the Participant, as measured as of the date of his or her termination of employment, to obtain continued medical care coverage for the Participant and his or her spouse and eligible dependents under the
Company’s employee group health plan, pursuant to their COBRA rights, at the level in effect for each of them on the date of such termination of employment exceeds (ii) the 

  

 23 

	 	 
monthly amount payable at such time by a similarly-situated executive whose employment with the Company has not terminated to obtain group health care
coverage at the same level. The Company shall pay the Lump Sum Health Care Payment to the Participant on the earlier of (A) the first regularly scheduled pay date for the Participant’s former job and location that occurs
within the sixty (60)-day period measured from the date of his or her Separation from Service on which both (A) the Release delivered by the Participant in accordance with Section IV(a)(i)(2) of the Plan is effective following the expiration of
any applicable revocation period and (B) any waiver required of the Participant pursuant to Section IV(a)(ii)(3) of the Plan is delivered to the Company, but in no event shall such payment be made later than the last day of such sixty (60)-day
period, provided such Release and waiver have each been delivered to the Company within the required time period following the Participant’s Separation from Service, as set forth in Section IV, and have not been revoked. Notwithstanding the
foregoing, the Lump Sum Health Care Payment shall be subject to the deferred payment provisions of Section V(d) of the Plan, to the extent such payment exceeds the applicable dollar amount under section 402(g)(1) of the Code for the year in which
the Participant’s Separation from Service occurs. The Lump Sum Health Care Payment shall constitute taxable income to the Participant and shall be subject to the Company’s collection of all applicable withholding taxes, and the Participant
shall receive only the portion of the Lump Sum Health Care Payment remaining after such withholding taxes have been collected. It shall be the sole responsibility of the Participant and his or her spouse and eligible dependents to obtain actual
COBRA coverage under the Company’s group health care plan. 

  

	 	3.	Outplacement services for 12 months following the date of Separation from Service. 

  

 24 

 APPENDIX B 
 Executive Vice President and 
 Senior Vice President 
 Severance Benefits 
  

	A.	Change in Control Severance Pay Benefit. 

 If a Severance
Pay Benefit under Section IV(a)(i) becomes payable either within the 18- month period following a Change in Control or within the applicable period, as specified in the definition thereof in Section 11(d) of the 2004 Equity Incentive Plan, that
precedes such Change in Control (the “Change in Control Period”), the Severance Pay Benefit shall be: 
  

	 	1.	2.5 times annual Regular Earnings, plus 2.5 times the average of the annual bonuses paid to the Participant (or otherwise earned but deferred in whole in part) under the
Company’s annual bonus plan applicable to the Participant for the three fiscal years (or such fewer number of complete fiscal years of employment) immediately preceding the fiscal year in which the Participant’s employment terminates.

  

	 	2.	 A lump sum cash payment (the “Lump Sum Health Care Payment”) in an amount equal to thirty (30) times the amount by which (i) the monthly
cost that would be payable by the Participant, as measured as of the date of his or her termination of employment, to obtain continued medical care coverage for the Participant and his or her spouse and eligible dependents under the Company’s
employee group health plan, pursuant to their COBRA rights, at the level in effect for each of them on the date of such termination of employment exceeds (ii) the monthly amount payable at such time by a similarly-situated executive whose
employment with the Company has not terminated to obtain group health care coverage at the same level. The Company shall pay the Lump Sum Health Care Payment to the Participant on the earlier of (A) the first regularly scheduled
pay date for the Participant’s former job and location that occurs within the sixty (60)-day period measured from the date of his or her Separation from Service on which both (A) the Release delivered by the Participant in accordance with
Section IV(a)(i)(2) of the Plan is effective following the expiration of any applicable revocation period and (B) any waiver required of the Participant pursuant to Section IV(a)(ii)(3) of the Plan is delivered to the Company, but in no event
shall such payment be made later than the last day of such sixty (60)-day period, provided such Release and waiver have each been delivered to the Company within the required time period following the Participant’s Separation from Service, as
set forth in Section IV, and have not been revoked. Notwithstanding the foregoing, the Lump Sum Health Care Payment shall be subject to the deferred payment provisions of Section V(d) of the Plan, to the extent such payment exceeds the applicable
dollar amount under section 402(g)(1) of the Code for the year in which the Participant’s Separation from Service occurs. The 

  

 25 

 
Lump Sum Health Care Payment shall constitute taxable income to the Participant and shall be subject to the Company’s collection of all applicable
withholding taxes, and the Participant shall receive only the portion of the Lump Sum Health Care Payment remaining after such withholding taxes have been collected. It shall be the sole responsibility of the Participant and his or her spouse and
eligible dependents to obtain actual COBRA coverage under the Company’s group health care plan. 
  

	 	3.	Outplacement services for 6 months following the date of Separation from Service. 

  

	 	4.	 An additional payment in an amount such that after payment by the Participant of all taxes (including, without limitation, any income and employment taxes and any
interest and penalties imposed thereon) and the excise tax imposed on such additional payment pursuant to Section 4999 of the Code, there remains an amount equal to the excise tax imposed pursuant to Section 4999 of the Code on the
Severance Pay Benefit and any other payment in the nature of compensation that constitutes a “parachute payment” under Section 280G of the Code (the “Excise Tax”). All calculations required pursuant to this provision shall
be performed by an independent registered public company accounting firm retained by the Company for such purpose and shall be based on information supplied by the Company and the Participant. For any parachute payments occurring at the time of the
Change in Control, the relevant calculations shall be completed within ten (10) business days after the effective date of such Change in Control, and for any parachute payments attributable to the Participant’s Separation from Service, the
calculations shall be completed within ten (10) business days after the effective date of such Separation from Service. Such calculations shall be conclusive and binding on all interested persons. The additional payment resulting from such
calculations shall be made to the Participant within ten (10) business days following the completion of such calculations or (if later) at the time the related Excise Tax is remitted to the appropriate tax authorities. In the event that the
Participant’s actual Excise Tax liability is determined by a Final Determination to be greater than the Excise Tax liability taken into account for purposes of the additional payment initially made to the Participant pursuant to the preceding
provisions of this section A.4, then within forty-five (45) days following that Final Determination, the Participant shall notify the Company of such determination, and a new Excise Tax calculation based upon that Final Determination shall
be made within the next forty-five (45) days. The Company shall make a supplemental tax gross up payment (as calculated in the same manner as the initial payment hereunder) to the Participant attributable to that excess Excise Tax liability
within ten (10) business days following the completion of the applicable calculations or (if later) at the time such excess tax liability is remitted to the appropriate tax authorities. In the event that the Participant’s actual Excise Tax
liability is determined by a Final Determination to be less than the 

  

 26 

	 	 
Excise Tax liability taken into account for purposes of the additional payment made to him or her pursuant to the preceding provisions of this
section A.4, then the Participant shall refund to the Company, promptly upon receipt, any federal or state tax refund attributable to the Excise Tax overpayment. For purposes of this section A.4, a “Final Determination” means an
audit adjustment by the Internal Revenue Service that is either (i) agreed to by both the Participant and the Company (such agreement by the Company to be not unreasonably withheld) or (ii) sustained by a court of competent jurisdiction in
a decision with which the Participant and the Company concur or with respect to which the period within which an appeal may be filed has lapsed without a notice of appeal being filed. Notwithstanding anything to the contrary in the foregoing, the
additional payment and any supplemental payments under this section A.4 shall be subject to the hold-back provisions of Section V(c) of the Plan, to the extent those payments relate to any amounts and benefits provided hereunder that constitute
parachute payments attributable to the Participant’s Separation from Service. In addition, such additional payment and any supplemental payments shall in no event be made later than the end of the calendar year that follows the calendar year in
which the related taxes are remitted to the appropriate tax authorities, or such other specified time or schedule that may be permitted under Section 409A of the Code. 

  

	B.	Severance Pay Benefit. 

 If a Severance Benefit under
Section IV(a)(i) becomes payable upon completion of six or more months of Continuous Service and at any time other than within the Change in Control Period as defined in paragraph A of this Appendix B, then the Severance Pay Benefit shall be:

  

	 	1.	1.5 times annual Regular Earnings plus 1.0 times the amount determined by multiplying (i) the average of the annual bonuses paid to the Participant (or otherwise earned but
deferred in whole in part) under the Company’s annual bonus plan applicable to the Participant for the three fiscal years (or such fewer number of complete fiscal years of employment) immediately preceding the fiscal year in which the
Participant’s employment terminates by (ii) a fraction the numerator of which is the number of months of employment (rounded to the next whole month) completed by the Participant in the fiscal year in which his or her employment terminates
and the denominator of which is 12. 

  

	 	2.	 A lump sum cash payment (the “Lump Sum Health Care Payment”) in an amount equal to eighteen (18) times the amount by which (i) the
monthly cost that would be payable by the Participant, as measured as of the date of his or her termination of employment, to obtain continued medical care coverage for the Participant and his or her spouse and eligible dependents under the
Company’s employee group health plan, pursuant to their COBRA rights, at the level in effect for each of them on the date of such termination of employment exceeds (ii) the monthly amount payable at such time by a similarly-situated
executive whose employment with the Company has not terminated to obtain group health care 

  

 27 

	 	 
coverage at the same level. The Company shall pay the Lump Sum Health Care Payment to the Participant on the earlier of (A) the first
regularly scheduled pay date for the Participant’s former job and location that occurs within the sixty (60)-day period measured from the date of his or her Separation from Service on which both (A) the Release delivered by the Participant
in accordance with Section IV(a)(i)(2) of the Plan is effective following the expiration of any applicable revocation period and (B) any waiver required of the Participant pursuant to Section IV(a)(ii)(3) of the Plan is delivered to the
Company, but in no event shall such payment be made later than the last day of such sixty (60)-day period, provided such Release and waiver have each been delivered to the Company within the required time period following the Participant’s
Separation from Service, as set forth in Section IV, and have not been revoked. Notwithstanding the foregoing, the Lump Sum Health Care Payment shall be subject to the deferred payment provisions of Section V(d) of the Plan, to the extent such
payment exceeds the applicable dollar amount under section 402(g)(1) of the Code for the year in which the Participant’s Separation from Service occurs. The Lump Sum Health Care Payment shall constitute taxable income to the Participant and
shall be subject to the Company’s collection of all applicable withholding taxes, and the Participant shall receive only the portion of the Lump Sum Health Care Payment remaining after such withholding taxes have been collected. It shall be the
sole responsibility of the Participant and his or her spouse and eligible dependents to obtain actual COBRA coverage under the Company’s group health care plan. 

  

	 	3.	Outplacement services for 6 months following the date of Separation from Service. 

  

 28 

 APPENDIX C 
 Vice President and Senior Advisor 
 Severance Benefits 
  

	A.	Change in Control Severance Pay Benefit – For All Vice Presidents and Senior Advisors. 

 If a Severance Pay Benefit under Section IV(a)(i) becomes payable either within the 12-month period following a Change in Control or within the applicable
period, as specified in the definition thereof in Section 11(d) of the 2004 Equity Incentive Plan, that precedes such Change in Control (the “Change in Control Period”), the Severance Pay Benefit shall be: 
  

	 	1.	1.5 times annual Regular Earnings, plus 1.5 times the average of the annual bonuses paid to the Participant (or otherwise earned but deferred in whole in part) under the
Company’s annual bonus plan applicable to the Participant for the three fiscal years (or such fewer number of complete fiscal years of employment) immediately preceding the fiscal year in which the Participant’s employment terminates.

  

	 	2.	 A lump sum cash payment (the “Lump Sum Health Care Payment”) in an amount equal to eighteen (18) times the amount by which (i) the
monthly cost that would be payable by the Participant, as measured as of the date of his or her termination of employment, to obtain continued medical care coverage for the Participant and his or her spouse and eligible dependents under the
Company’s employee group health plan, pursuant to their COBRA rights, at the level in effect for each of them on the date of such termination of employment exceeds (ii) the monthly amount payable at such time by a similarly-situated
executive whose employment with the Company has not terminated to obtain group health care coverage at the same level. The Company shall pay the Lump Sum Health Care Payment to the Participant on the earlier of (A) the first
regularly scheduled pay date for the Participant’s former job and location that occurs within the sixty (60)-day period measured from the date of his or her Separation from Service on which both (A) the Release delivered by the Participant
in accordance with Section IV(a)(i)(2) of the Plan is effective following the expiration of any applicable revocation period and (B) any waiver required of the Participant pursuant to Section IV(a)(ii)(3) of the Plan is delivered to the
Company, but in no event shall such payment be made later than the last day of such sixty (60)-day period, provided such Release and waiver have each been delivered to the Company within the required time period following the Participant’s
Separation from Service, as set forth in Section IV, and have not been revoked. Notwithstanding the foregoing, the Lump Sum Health Care Payment shall be subject to the deferred payment provisions of Section V(d) of the Plan, to the extent such
payment exceeds the applicable dollar amount under section 402(g)(1) of the Code for the year in which the Participant’s Separation from Service occurs. The Lump Sum Health Care Payment shall constitute taxable income to the Participant 

  

 29 

	 	 
and shall be subject to the Company’s collection of all applicable withholding taxes, and the Participant shall receive only the portion of the Lump Sum
Health Care Payment remaining after such withholding taxes have been collected. It shall be the sole responsibility of the Participant and his or her spouse and eligible dependents to obtain actual COBRA coverage under the Company’s group
health care plan. 

  

	 	3.	Outplacement services for 6 months following the date of Separation from Service. 

  

	 	4.	 An additional payment in an amount such that after payment by the Participant of all taxes (including, without limitation, any income and employment taxes and any
interest and penalties imposed thereon) and the excise tax imposed on such additional payment pursuant to Section 4999 of the Code, there remains an amount equal to the excise tax imposed pursuant to Section 4999 of the Code on the
Severance Pay Benefit and any other payment in the nature of compensation that constitutes a “parachute payment” under Section 280G of the Code (the “Excise Tax”). All calculations required pursuant to this provision shall
be performed by an independent registered public company accounting firm retained by the Company for such purpose and shall be based on information supplied by the Company and the Participant. For any parachute payments occurring at the time of the
Change in Control, the relevant calculations shall be completed within ten (10) business days after the effective date of such Change in Control, and for any parachute payments attributable to the Participant’s Separation from Service, the
calculations shall be completed within ten (10) business days after the effective date of such Separation from Service. Such calculations shall be conclusive and binding on all interested persons. The additional payment resulting from such
calculations shall be made to the Participant within ten (10) business days following the completion of such calculations or (if later) at the time the related Excise Tax is remitted to the appropriate tax authorities. In the event that the
Participant’s actual Excise Tax liability is determined by a Final Determination to be greater than the Excise Tax liability taken into account for purposes of the additional payment initially made to the Participant pursuant to the preceding
provisions of this section A.4, then within forty-five (45) days following that Final Determination, the Participant shall notify the Company of such determination, and a new Excise Tax calculation based upon that Final Determination shall
be made within the next forty-five (45) days. The Company shall make a supplemental tax gross up payment (as calculated in the same manner as the initial payment hereunder) to the Participant attributable to that excess Excise Tax liability
within ten (10) business days following the completion of the applicable calculations or (if later) at the time such excess tax liability is remitted to the appropriate tax authorities. In the event that the Participant’s actual Excise Tax
liability is determined by a Final Determination to be less than the Excise Tax liability taken into account for purposes of the additional payment made to him or her pursuant to the preceding provisions of this section A.4, then 

  

 30 

	 	 
the Participant shall refund to the Company, promptly upon receipt, any federal or state tax refund attributable to the Excise Tax overpayment. For purposes
of this section A.4, a “Final Determination” means an audit adjustment by the Internal Revenue Service that is either (i) agreed to by both the Participant and the Company (such agreement by the Company to be not unreasonably
withheld) or (ii) sustained by a court of competent jurisdiction in a decision with which the Participant and the Company concur or with respect to which the period within which an appeal may be filed has lapsed without a notice of appeal being
filed. Notwithstanding anything to the contrary in the foregoing, the additional payment and any supplemental payments under this section A.4 shall be subject to the hold-back provisions of Section V(c) of the Plan, to the extent those payments
relate to any amounts and benefits provided hereunder that constitute parachute payments attributable to the Participant’s Separation from Service. In addition, such additional payment and any supplemental payments shall in no event be made
later than the end of the calendar year that follows the calendar year in which the related taxes are remitted to the appropriate tax authorities, or such other specified time or schedule that may be permitted under Section 409A of the Code.

  

	B.	Severance Pay Benefit for Vice Presidents with at least Six Months of Continuous Service 

 For Vice Presidents who have completed six or more months of Continuous Service at the time they become eligible for a severance benefit under Section IV(a)(i), if the Severance Pay Benefit becomes payable at any
time other than the Change in Control Period as defined in paragraph A of this Appendix C, then the Severance Pay Benefit shall be: 
  

	 	1.	1.0 times annual Regular Earnings. 

  

	 	2.	 A lump sum cash payment (the “Lump Sum Health Care Payment”) in an amount equal to twelve (12) times the amount by which (i) the monthly
cost that would be payable by the Participant, as measured as of the date of his or her termination of employment, to obtain continued medical care coverage for the Participant and his or her spouse and eligible dependents under the Company’s
employee group health plan, pursuant to their COBRA rights, at the level in effect for each of them on the date of such termination of employment exceeds (ii) the monthly amount payable at such time by a similarly-situated executive whose
employment with the Company has not terminated to obtain group health care coverage at the same level. The Company shall pay the Lump Sum Health Care Payment to the Participant on the earlier of (A) the first regularly scheduled
pay date for the Participant’s former job and location that occurs within the sixty (60)-day period measured from the date of his or her Separation from Service on which both (A) the Release delivered by the Participant in accordance with
Section IV(a)(i)(2) of the Plan is effective following the expiration of any applicable revocation period and (B) any waiver required of the Participant pursuant to Section IV(a)(ii)(3) of the Plan is delivered to the Company, but in no event
shall 

  

 31 

	 	 
such payment be made later than the last day of such sixty (60)-day period, provided such Release and waiver have each been delivered to the Company within
the required time period following the Participant’s Separation from Service, as set forth in Section IV, and have not been revoked. Notwithstanding the foregoing, the Lump Sum Health Care Payment shall be subject to the deferred payment
provisions of Section V(d) of the Plan, to the extent such payment exceeds the applicable dollar amount under section 402(g)(1) of the Code for the year in which the Participant’s Separation from Service occurs. The Lump Sum Health Care Payment
shall constitute taxable income to the Participant and shall be subject to the Company’s collection of all applicable withholding taxes, and the Participant shall receive only the portion of the Lump Sum Health Care Payment remaining after such
withholding taxes have been collected. It shall be the sole responsibility of the Participant and his or her spouse and eligible dependents to obtain actual COBRA coverage under the Company’s group health care plan.

  

	 	3.	Outplacement services for 6 months following the date of Separation from Service. 

  

	C.	Severance Pay Benefit for Vice Presidents with less than Six Months of Continuous Service 

 For Vice Presidents who have not completed six or more months of Continuous Service but are otherwise eligible for a severance benefit under Section IV(a)(i), if the Severance Pay Benefit becomes payable at any
time other than the Change in Control Period as defined in paragraph A of this Appendix C, then the Severance Pay Benefit shall be: 
  

	 	1.	4 months of Regular Earnings. 

  

	 	2.	 A lump sum cash payment (the “Lump Sum Health Care Payment”) in an amount equal to four (4) times the amount by which (i) the monthly
cost that would be payable by the Participant, as measured as of the date of his or her termination of employment, to obtain continued medical care coverage for the Participant and his or her spouse and eligible dependents under the Company’s
employee group health plan, pursuant to their COBRA rights, at the level in effect for each of them on the date of such termination of employment exceeds (ii) the monthly amount payable at such time by a similarly-situated executive whose
employment with the Company has not terminated to obtain group health care coverage at the same level. The Company shall pay the Lump Sum Health Care Payment to the Participant on the earlier of (A) the first regularly scheduled
pay date for the Participant’s former job and location that occurs within the sixty (60)-day period measured from the date of his or her Separation from Service on which both (A) the Release delivered by the Participant in accordance with
Section IV(a)(i)(2) of the Plan is effective following the expiration of any applicable revocation period and (B) any waiver required of the Participant pursuant to Section IV(a)(ii)(3) of the Plan is delivered to the Company, but in no event
shall 

  

 32 

	 	 
such payment be made later than the last day of such sixty (60)-day period, provided such Release and waiver have each been delivered to the Company within
the required time period following the Participant’s Separation from Service, as set forth in Section IV, and have not been revoked. Notwithstanding the foregoing, the Lump Sum Health Care Payment shall be subject to the deferred payment
provisions of Section V(d) of the Plan, to the extent such payment exceeds the applicable dollar amount under section 402(g)(1) of the Code for the year in which the Participant’s Separation from Service occurs. The Lump Sum Health Care Payment
shall constitute taxable income to the Participant and shall be subject to the Company’s collection of all applicable withholding taxes, and the Participant shall receive only the portion of the Lump Sum Health Care Payment remaining after such
withholding taxes have been collected. It shall be the sole responsibility of the Participant and his or her spouse and eligible dependents to obtain actual COBRA coverage under the Company’s group health care plan.

  

	 	3.	Outplacement services for 1 month following the date of Separation from Service. 

 Senior Advisors shall not be entitled to any benefits under Sections B and C of this Appendix C. 
  

 33 

 APPENDIX D 
 Severance Benefits for Eligible Employees 
 other than Chief Executive Officer, 
 Executive Vice President, Senior Vice President, 
 Vice President and Senior Advisor 
 This Appendix is effective for covered individuals who cease Employee status on or after May 8,
2007, unless they have a pre-existing contract providing a different level of severance pay. 
  

	A.	Change in Control Severance Pay Benefit. 

 If a Severance
Pay Benefit under Section IV(a)(i) becomes payable within the 12-month period following a Change in Control (the “Change in Control Period”), then regardless of the period of Continuous Service the Severance Pay Benefit shall be:

  

	 	1.	Eligible Employees in Grades 31 through 34: 

  

	 	a.	Three weeks of Regular Earnings times Years of Continuous Service, with a maximum of 52 weeks of Regular Earnings and a minimum of 22 weeks of Regular Earnings.

  

	 	b.	 A lump sum cash payment (the “Lump Sum Health Care Payment”) in the dollar amount determined by multiplying (A) the number of months (rounded
up to the next whole month) in the applicable severance pay period determined for the Participant in accordance with Paragraph A.1.a above by (B) the amount by which (i) the monthly cost that would be payable by the Participant, as
measured as of the date of his or her termination of employment, to obtain continued medical care coverage for the Participant and his or her spouse and eligible dependents under the Company’s employee group health plan, pursuant to their COBRA
rights, at the level in effect for each of them on the date of the Participant’s termination of employment exceeds (ii) the monthly amount payable at such time by a similarly-situated executive whose employment with the Company has not
terminated to obtain group health care coverage at the same level. The Company shall pay the Lump Sum Health Care Payment to the Participant on the earlier of (A) the first regularly scheduled pay date for the Participant’s
former job and location that occurs within the sixty (60)-day period measured from the date of his or her Separation from Service on which both (A) the Release delivered by the Participant in accordance with Section IV(a)(i)(2) of the Plan is
effective following the expiration of any applicable revocation period and (B) any waiver required of the Participant pursuant to Section IV(a)(ii)(3) of the Plan is delivered to the Company, but in no event shall such payment be made later
than the last day of such sixty (60)-day period, provided such Release and waiver have each been delivered to the Company within the required time period 

  

 34 

	 	 
following the Participant’s Separation from Service, as set forth in Section IV, and have not been revoked. Notwithstanding the foregoing, the Lump Sum
Health Care Payment shall be subject to the deferred payment provisions of Section V(d) of the Plan, to the extent such payment exceeds the applicable dollar amount under section 402(g)(1) of the Code for the year in which the Participant’s
Separation from Service occurs. The Lump Sum Health Care Payment shall constitute taxable income to the Participant and shall be subject to the Company’s collection of all applicable withholding taxes, and the Participant shall receive only the
portion of the Lump Sum Health Care Payment remaining after such withholding taxes have been collected. It shall be the sole responsibility of the Participant and his or her spouse and eligible dependents to obtain actual COBRA coverage under the
Company’s group health care plan. 

  

	 	c.	Outplacement services for 6 months following the date of Separation from Service. 

  

	 	2.	Eligible Employees in Grades 25 through 30: 

  

	 	d.	Three weeks of Regular Earnings times Years of Continuous Service, with a maximum of 39 weeks of Regular Earnings and a minimum of 13 weeks of Regular Earnings.

  

	 	e.	 A lump sum cash payment (the “Lump Sum Health Care Payment”) in the dollar amount determined by multiplying (A) the number of months (rounded
up to the next whole month) in the applicable severance pay period determined for the Participant in accordance with Paragraph A.2.a above by (B) the amount by which (i) the monthly cost that would be payable by the Participant, as
measured as of the date of his or her termination of employment, to obtain continued medical care coverage for the Participant and his or her spouse and eligible dependents under the Company’s employee group health plan, pursuant to their COBRA
rights, at the level in effect for each of them on the date of the Participant’s termination of employment exceeds (ii) the monthly amount payable at such time by a similarly-situated executive whose employment with the Company has not
terminated to obtain group health care coverage at the same level. The Company shall pay the Lump Sum Health Care Payment to the Participant on the earlier of (A) the first regularly scheduled pay date for the Participant’s
former job and location that occurs within the sixty (60)-day period measured from the date of his or her Separation from Service on which both (A) the Release delivered by the Participant in accordance with Section IV(a)(i)(2) of the Plan is
effective following the expiration of any applicable revocation period and (B) any waiver required of the Participant pursuant to Section IV(a)(ii)(3) of the Plan is delivered to the Company, but in no event shall such payment be made later
than the last day of such sixty (60)-day period, provided such Release and waiver have each been delivered to the Company within the required time period 

  

 35 

	 	 
following the Participant’s Separation from Service, as set forth in Section IV, and have not been revoked. Notwithstanding the foregoing, the Lump Sum
Health Care Payment shall be subject to the deferred payment provisions of Section V(d) of the Plan, to the extent such payment exceeds the applicable dollar amount under section 402(g)(1) of the Code for the year in which the Participant’s
Separation from Service occurs. The Lump Sum Health Care Payment shall constitute taxable income to the Participant and shall be subject to the Company’s collection of all applicable withholding taxes, and the Participant shall receive only the
portion of the Lump Sum Health Care Payment remaining after such withholding taxes have been collected. It shall be the sole responsibility of the Participant and his or her spouse and eligible dependents to obtain actual COBRA coverage under the
Company’s group health care plan. 

  

	 	f.	Outplacement services for 3 months following the date of Separation from Service. 

  

	 	3.	Eligible Employees in Grades 21 through 24: 

  

	 	a.	Three weeks of Regular Earnings times Years of Continuous Service, with a maximum of 26 weeks of Regular Earnings and a minimum of 9 weeks of Regular Earnings.

  

	 	b.	 A lump sum cash payment (the “Lump Sum Health Care Payment”) in the dollar amount determined by multiplying (A) the number of months (rounded
up to the next whole month) in the applicable severance pay period determined for the Participant in accordance with Paragraph A.3.a above by (B) the amount by which (i) the monthly cost that would be payable by the Participant, as
measured as of the date of his or her termination of employment, to obtain continued medical care coverage for the Participant and his or her spouse and eligible dependents under the Company’s employee group health plan, pursuant to their COBRA
rights, at the level in effect for each of them on the date of the Participant’s termination of employment exceeds (ii) the monthly amount payable at such time by a similarly-situated executive whose employment with the Company has not
terminated to obtain group health care coverage at the same level. The Company shall pay the Lump Sum Health Care Payment to the Participant on the earlier of (A) the first regularly scheduled pay date for the Participant’s
former job and location that occurs within the sixty (60)-day period measured from the date of his or her Separation from Service on which both (A) the Release delivered by the Participant in accordance with Section IV(a)(i)(2) of the Plan is
effective following the expiration of any applicable revocation period and (B) any waiver required of the Participant pursuant to Section IV(a)(ii)(3) of the Plan is delivered to the Company, but in no event shall such payment be made later
than the last day of such sixty (60)-day period, provided such Release and waiver have each been delivered to the Company within the required time period 

  

 36 

	 	 
following the Participant’s Separation from Service, as set forth in Section IV, and have not been revoked. Notwithstanding the foregoing, the Lump Sum
Health Care Payment shall be subject to the deferred payment provisions of Section V(d) of the Plan, to the extent such payment exceeds the applicable dollar amount under section 402(g)(1) of the Code for the year in which the Participant’s
Separation from Service occurs. The Lump Sum Health Care Payment shall constitute taxable income to the Participant and shall be subject to the Company’s collection of all applicable withholding taxes, and the Participant shall receive only the
portion of the Lump Sum Health Care Payment remaining after such withholding taxes have been collected. It shall be the sole responsibility of the Participant and his or her spouse and eligible dependents to obtain actual COBRA coverage under the
Company’s group health care plan. 

  

	 	c.	Outplacement services for 1week following the date of Separation from Service. 

  

	B.	General Severance Pay Benefit. 

 If a Severance Benefit
under Section IV(a)(i) becomes payable upon completion of six or more months of Continuous Service and at any time other than within the Change in Control Period as defined in paragraph A of this Appendix D, then the Severance Pay Benefit shall be:

  

	 	1.	Eligible Employees in Grades 31 through 34. 

  

	 	a.	Three weeks of Regular Earnings times Years of Continuous Service, with a maximum of 39 weeks of Regular Earnings and a minimum of 13 weeks of Regular Earnings.

  

	 	b.	 A lump sum cash payment (the “Lump Sum Health Care Payment”) in the dollar amount determined by multiplying (A) the number of months (rounded
up to the next whole month) in the applicable severance pay period determined for the Participant in accordance with Paragraph B.1.a above by (B) the amount by which (i) the monthly cost that would be payable by the Participant, as
measured as of the date of his or her termination of employment, to obtain continued medical care coverage for the Participant and his or her spouse and eligible dependents under the Company’s employee group health plan, pursuant to their COBRA
rights, at the level in effect for each of them on the date of the Participant’s termination of employment exceeds (ii) the monthly amount payable at such time by a similarly-situated executive whose employment with the Company has not
terminated to obtain group health care coverage at the same level. The Company shall pay the Lump Sum Health Care Payment to the Participant on the earlier of (A) the first regularly scheduled pay date for the Participant’s
former job and location that occurs within the sixty (60)-day period measured from the date of his or her Separation from 

  

 37 

	 	 
Service on which both (A) the Release delivered by the Participant in accordance with Section IV(a)(i)(2) of the Plan is effective following the
expiration of any applicable revocation period and (B) any waiver required of the Participant pursuant to Section IV(a)(ii)(3) of the Plan is delivered to the Company, but in no event shall such payment be made later than the last day of such
sixty (60)-day period, provided such Release and waiver have each been delivered to the Company within the required time period following the Participant’s Separation from Service, as set forth in Section IV, and have not been revoked.
Notwithstanding the foregoing, the Lump Sum Health Care Payment shall be subject to the deferred payment provisions of Section V(d) of the Plan, to the extent such payment exceeds the applicable dollar amount under section 402(g)(1) of the Code for
the year in which the Participant’s Separation from Service occurs. The Lump Sum Health Care Payment shall constitute taxable income to the Participant and shall be subject to the Company’s collection of all applicable withholding taxes,
and the Participant shall receive only the portion of the Lump Sum Health Care Payment remaining after such withholding taxes have been collected. It shall be the sole responsibility of the Participant and his or her spouse and eligible dependents
to obtain actual COBRA coverage under the Company’s group health care plan. 

  

	 	c.	Outplacement services for 3 months following the date of Separation from Service. 

  

	 	2.	Eligible Employees in Grades 25 through 30: 

  

	 	a.	Three weeks of Regular Earnings times Years of Continuous Service, with a maximum of 39 weeks of Regular Earnings and a minimum of 13 weeks of Regular Earnings.

  

	 	b.	 A lump sum cash payment (the “Lump Sum Health Care Payment”) in the dollar amount determined by multiplying (A) the number of months (rounded
up to the next whole month) in the applicable severance pay period determined for the Participant in accordance with Paragraph B.2.a above by (B) the amount by which (i) the monthly cost that would be payable by the Participant, as
measured as of the date of his or her termination of employment, to obtain continued medical care coverage for the Participant and his or her spouse and eligible dependents under the Company’s employee group health plan, pursuant to their COBRA
rights, at the level in effect for each of them on the date of the Participant’s termination of employment exceeds (ii) the monthly amount payable at such time by a similarly-situated executive whose employment with the Company has not
terminated to obtain group health care coverage at the same level. The Company shall pay the Lump Sum Health Care Payment to the Participant on the earlier of (A) the first regularly scheduled pay date for the Participant’s
former job and location that occurs within the sixty (60)-day period measured from the date of his or her Separation from 

  

 38 

	 	 
Service on which both (A) the Release delivered by the Participant in accordance with Section IV(a)(i)(2) of the Plan is effective following the
expiration of any applicable revocation period and (B) any waiver required of the Participant pursuant to Section IV(a)(ii)(3) of the Plan is delivered to the Company, but in no event shall such payment be made later than the last day of such
sixty (60)-day period, provided such Release and waiver have each been delivered to the Company within the required time period following the Participant’s Separation from Service, as set forth in Section IV, and have not been revoked.
Notwithstanding the foregoing, the Lump Sum Health Care Payment shall be subject to the deferred payment provisions of Section V(d) of the Plan, to the extent such payment exceeds the applicable dollar amount under section 402(g)(1) of the Code for
the year in which the Participant’s Separation from Service occurs. The Lump Sum Health Care Payment shall constitute taxable income to the Participant and shall be subject to the Company’s collection of all applicable withholding taxes,
and the Participant shall receive only the portion of the Lump Sum Health Care Payment remaining after such withholding taxes have been collected. It shall be the sole responsibility of the Participant and his or her spouse and eligible dependents
to obtain actual COBRA coverage under the Company’s group health care plan. 

  

	 	c.	Outplacement services for 3 months following the date of Separation from Service. 

  

	 	3.	Eligible Employees in Grades 21 through 24: 

  

	 	a.	Three weeks of Regular Earnings times Years of Continuous Service, with a maximum of 26 weeks of Regular Earnings and a minimum of 9 weeks of Regular Earnings.

  

	 	b.	 A lump sum cash payment (the “Lump Sum Health Care Payment”) in the dollar amount determined by multiplying (A) the number of months (rounded
up to the next whole month) in the applicable severance pay period determined for the Participant in accordance with Paragraph B.3.a above by (B) the amount by which (i) the monthly cost that would be payable by the Participant, as
measured as of the date of his or her termination of employment, to obtain continued medical care coverage for the Participant and his or her spouse and eligible dependents under the Company’s employee group health plan, pursuant to their COBRA
rights, at the level in effect for each of them on the date of the Participant’s termination of employment exceeds (ii) the monthly amount payable at such time by a similarly-situated executive whose employment with the Company has not
terminated to obtain group health care coverage at the same level. The Company shall pay the Lump Sum Health Care Payment to the Participant on the earlier of (A) the first regularly scheduled pay date for the Participant’s
former job and location that occurs within the sixty (60)-day period measured from the date of his or her Separation from 

  

 39 

	 	 
Service on which both (A) the Release delivered by the Participant in accordance with Section IV(a)(i)(2) of the Plan is effective following the
expiration of any applicable revocation period and (B) any waiver required of the Participant pursuant to Section IV(a)(ii)(3) of the Plan is delivered to the Company, but in no event shall such payment be made later than the last day of such
sixty (60)-day period, provided such Release and waiver have each been delivered to the Company within the required time period following the Participant’s Separation from Service, as set forth in Section IV, and have not been revoked.
Notwithstanding the foregoing, the Lump Sum Health Care Payment shall be subject to the deferred payment provisions of Section V(d) of the Plan, to the extent such payment exceeds the applicable dollar amount under section 402(g)(1) of the Code for
the year in which the Participant’s Separation from Service occurs. The Lump Sum Health Care Payment shall constitute taxable income to the Participant and shall be subject to the Company’s collection of all applicable withholding taxes,
and the Participant shall receive only the portion of the Lump Sum Health Care Payment remaining after such withholding taxes have been collected. It shall be the sole responsibility of the Participant and his or her spouse and eligible dependents
to obtain actual COBRA coverage under the Company’s group health care plan. 

  

	 	c.	Outplacement services for 1 week following the date of Separation from Service. 

  

	C.	General Severance Pay Benefit Without Six Months of Continuous Service. 

 For Eligible Employees in Grades 21 through 34 who have not completed six or more months of Continuous Service but are eligible for a severance benefit under Section IV(a)(i), if the Severance Pay Benefit becomes
payable at any time other than within the Change Control Period as defined in paragraph A of this Appendix D, then the Severance Pay Benefit shall be: 
  

	 	1.	4 weeks of Regular Earnings. 

  

	 	2.	 A lump sum cash payment (the “Lump Sum Health Care Payment”) in the amount equal to one (1) times the amount by which (i) the monthly
cost that would be payable by the Participant, as measured as of the date of his or her termination of employment, to obtain continued medical care coverage for the Participant and his or her spouse and eligible dependents under the Company’s
employee group health plan, pursuant to their COBRA rights, at the level in effect for each of them on the date of the Participant’s termination of employment exceeds (ii) the monthly amount payable at such time by a similarly-situated
executive whose employment with the Company has not terminated to obtain group health care coverage at the same level. The Company shall pay the Lump Sum Health Care Payment to the Participant on the earlier of (A) the first
regularly scheduled pay date for the Participant’s former job and location that occurs within the sixty (60)-day period measured from the date of his or her 

  

 40 

	 	 
Separation from Service on which both (A) the Release delivered by the Participant in accordance with Section IV(a)(i)(2) of the Plan is effective
following the expiration of any applicable revocation period and (B) any waiver required of the Participant pursuant to Section IV(a)(ii)(3) of the Plan is delivered to the Company, but in no event shall such payment be made later than the last
day of such sixty (60)-day period, provided such Release and waiver have each been delivered to the Company within the required time period following the Participant’s Separation from Service, as set forth in Section IV, and have not been
revoked. Notwithstanding the foregoing, the Lump Sum Health Care Payment shall be subject to the deferred payment provisions of Section V(d) of the Plan, to the extent such payment exceeds the applicable dollar amount under section 402(g)(1) of the
Code for the year in which the Participant’s Separation from Service occurs. The Lump Sum Health Care Payment shall constitute taxable income to the Participant and shall be subject to the Company’s collection of all applicable withholding
taxes, and the Participant shall receive only the portion of the Lump Sum Health Care Payment remaining after such withholding taxes have been collected. It shall be the sole responsibility of the Participant and his or her spouse and eligible
dependents to obtain actual COBRA coverage under the Company’s group health care plan. 

  

	 	3.	Outplacement services for 1 week following the date of Separation from Service. 

  

 41

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