Document:

Amended and Restated Plan

 Exhibit 10.1 
 AMGEN INC. 
 CHANGE OF CONTROL SEVERANCE PLAN 

AMGEN INC., a Delaware corporation, has established this Change of Control Severance Plan, as amended and restated, effective as of December 9, 2010
(the “Plan”) for the benefit of certain key employees of Amgen Inc. and Covered Subsidiaries (as defined below). 

The purposes of the Plan are as follows: 
  

	 	(1)	To reinforce and encourage the continued attention and dedication of members of the Company’s management to their assigned duties without the distraction arising
from the possibility of a change of control of the Company; 

  

	 	(2)	To enable and encourage the Company’s management to focus their attention on obtaining the best possible deal for the Company’s stockholders and to make an
independent evaluation of all possible transactions, without being influenced by their personal concerns regarding the possible impact of various transactions on the security of their jobs and benefits; and 

 

	 	(3)	To provide severance benefits to any Participant (as defined below) who incurs a termination of employment under the circumstances described herein within a certain
period following a Change of Control (as defined below). 

  

	 	1.	Defined Terms. For purposes of the Plan, the following terms shall have the meanings indicated below: 

 

	 	(A)	“Accountants” shall mean the Company’s independent registered public accountants serving immediately prior to the Change of Control; provided,
however, that in the event that the Accountants are also serving as accountant or auditor for the individual, entity or group effecting the Change of Control, the Administration Committee shall appoint another nationally recognized public
accounting firm to make the calculations required hereunder (which accounting firm shall then be referred to as the Accountants hereunder). 

  

	 	(B)	“Administration Committee” shall mean the committee which is responsible for administering the Plan, as described in Section 3(A) hereof.

  

	 	(C)	“Amgen Retirement Savings Plan” shall mean the Amgen Retirement and Savings Plan, As Amended and Restated Effective January 1, 2010, or any
successor plan. 

  

	 	(D)	“Amgen Supplemental Retirement Plan” shall mean the Amgen Inc. Supplemental Retirement Plan, Amended and Restated Effective January 1, 2009, or
any successor plan. 

  

	 	(E)	 “Benefits Continuation Period” shall mean the earlier to occur of (i) the expiration of a Participant’s eligibility for
coverage under COBRA, and (ii) the 

  
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expiration of the eighteen (18) month period immediately following the Participant’s Date of Termination. 

 

	 	(F)	“Benefits Multiple” shall mean (i) with respect to each Group I Participant, two (2), (ii) with respect to each Group II Participant, two
(2), and (iii) with respect to each Group III Participant, one (1). 

  

	 	(G)	“Board” shall mean the Board of Directors of the Company. 

 

	 	(H)	“Cash Severance Payment” shall mean a lump sum cash payment in an amount equal to the product of (x) the Participant’s Benefits Multiple, and
(y) the sum of (i) the Participant’s annual base salary as in effect immediately prior to the Date of Termination or, if higher, as in effect immediately prior to the Change of Control, plus (ii) the Participant’s targeted
annual bonus for the year in which such Date of Termination occurs (determined as the product of the Participant’s annual base salary and the Participant’s target annual bonus percentage, each as in effect immediately prior to the Date of
Termination or, if higher, as in effect immediately prior to the Change of Control). 

  

	 	(I)	“Cause,” with respect to any Participant, shall mean (i) the Participant’s conviction of a felony, or (ii) the engaging by the
Participant in conduct that constitutes willful gross neglect or willful gross misconduct in carrying out the Participant’s duties, resulting, in either case, in material economic harm to the Company, unless the Participant believed in good
faith that such conduct was in, or not contrary to, the best interests of the Company. For purposes of clause (ii) above, no act, or failure to act, on the Participant’s part shall be deemed “willful” unless done, or omitted to
be done, by the Participant not in good faith. 

  

	 	(J)	A “Change of Control” of the Company shall be deemed to have occurred at any of the following times: 

 

	 	(i)	upon the acquisition (other than from the Company) by any person, entity or “group,” within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange
Act (excluding, for this purpose, the Company or its affiliates, or any employee benefit plan of the Company or its affiliates which acquires beneficial ownership of voting securities of the Company), of beneficial ownership (within the meaning of
Rule 13d-3 promulgated under the Exchange Act) of fifty percent (50%) or more of either the then outstanding shares of Common Stock or the combined voting power of the Company’s then outstanding voting securities entitled to vote generally
in the election of directors; or 

  

	 	(ii)	 at the time individuals who, as of December 9, 2010, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at
least a majority of the Board, provided, that any person becoming a director subsequent to December 9, 2010, whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at

  
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least a majority of the directors then comprising the Incumbent Board (other than an election or nomination of an individual whose initial assumption of office is in connection with an actual or
threatened election contest relating to the election of the directors of the Company) shall be, for purposes of the Plan, considered as though such person were a member of the Incumbent Board; or 

 

	 	(iii)	immediately prior to the consummation by the Company of a reorganization, merger, consolidation, (in each case, with respect to which persons who were the stockholders
of the Company immediately prior to such reorganization, merger or consolidation do not, immediately thereafter, own more than fifty percent (50%) of the combined voting power entitled to vote generally in the election of directors of the
reorganized, merged or consolidated company’s then outstanding voting securities) or a liquidation or dissolution of the Company or the sale of all or substantially all of the assets of the Company; or 

 

	 	(iv)	The occurrence of any other event which the Incumbent Board in its sole discretion determines constitutes a Change of Control. 

 

	 	(K)	“Change of Control Period” shall mean the period beginning on the date of a Change of Control and ending on the second anniversary of such Change of
Control. 

  

	 	(L)	“COBRA” shall mean the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended. 

 

	 	(M)	“Code” shall mean the Internal Revenue Code of 1986, as amended from time to time. 

 

	 	(N)	“Common Stock” shall mean the common stock of the Company, par value $0.0001 per share. 

 

	 	(O)	“Company” shall mean Amgen Inc., a Delaware corporation, and, except in determining under Section 1(J) hereof whether or not any Change of Control
of the Company has occurred, shall include any successor to its business and/or assets. “Company” shall exclude any disregarded entity pursuant Treasury Regulations section 301.7701-3, unless the Plan is amended to designate the
disregarded entity’s employees as Participants. 

  

	 	(P)	“Compensation Committee” shall mean the Compensation and Management Development Committee of the Board. 

 

	 	(Q)	 “Confidential Information” shall mean information disclosed to the Participant or known by the Participant as a consequence of or
through his or her relationship with the Company, about the customers, employees, business methods, public relations methods, organization, procedures or finances, including, without

  
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limitation, information of or relating to customer lists, of the Company and its affiliates. 

  

	 	(R)	“Covered Subsidiaries” shall mean Amgen USA Inc., Amgen Worldwide Services, Inc., Immunex Corporation, Immunex Manufacturing Corporation, Immunex Rhode
Island Corporation, Amgen SF, LLC, Amgen Fremont Inc. and Amgen Mountain View Inc. 

  

	 	(S)	“Date of Termination” shall mean with respect to any purported termination of a Participant’s employment (other than by reason of the
Participant’s death), (i) if the Participant’s employment is terminated for Disability, the date upon which a Notice of Termination is given, and (ii) if the Participant’s employment is terminated for any other reason,
whether voluntarily or involuntarily, the date that the Participant’s employment terminates, as specified in the Notice of Termination (which shall be within sixty (60) days from the date such Notice of Termination is given).

  

	 	(T)	“Disability” shall be determined in accordance with the Company’s long-term disability plan as in effect immediately prior to a Change of Control.

  

	 	(U)	“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended from time to time. 

 

	 	(V)	“Good Reason,” with respect to any Participant, shall mean the occurrence (without the Participant’s express written consent) of any of the
following conditions, but only if (1) the Participant provides written notice to the Company of the existence of the condition within thirty (30) days of the initial existence of the condition; (2) the Company fails to remedy the
condition within the thirty (30)-day period following the Company’s receipt of the notice delivered pursuant to clause (1); and (3) the Participant actually terminates employment within thirty (30) days following the expiration of the
thirty (30)-day period described above in clause (2): 

  

	 	(i)	any adverse and material diminution in the Participant’s authority, duties or responsibilities as they existed immediately prior to the Change of Control or as the
same may be increased from time to time thereafter; 

  

	 	(ii)	the Company’s material reduction of the Participant’s annual base salary as in effect immediately prior to the Change of Control; 

 

	 	(iii)	relocation of the Company’s offices at which the Participant is employed immediately prior to the Change of Control which increases the Participant’s daily
commute by more than one-hundred (100) miles on a round trip basis; or 

  
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	 	(iv)	any other action or inaction by the Company that constitutes a material breach of the agreement under which the Participant provides services. 

 

	 	    	A Participant’s right to terminate his or her employment for Good Reason shall not be affected by the Participant’s incapacity due to physical or mental
illness. 

  

	 	(W)	“Group I Participants” shall mean those staff members of the Company, who hold the title of senior vice president or equivalent and above, and any
other senior executive-level staff members of the Company and the Covered Subsidiaries whom the Administration Committee has designated as Group I Participants, as such group shall be constituted immediately prior to a Change of Control. At or
before the occurrence of a Change of Control, the Company shall notify the Group I Participants in writing of their status as Participants in the Plan. 

  

	 	(X)	“Group II Participants” shall mean those management-level staff members of the Company and the Covered Subsidiaries at Level 8 or equivalent and above
and who are not Group I Participants, as such group shall be constituted immediately prior to a Change of Control. At or before the occurrence of a Change of Control, the Company shall notify the Group II Participants in writing of their status as
Participants in the Plan. 

  

	 	(Y)	“Group III Participants” shall mean those management-level staff members of the Company and the Covered Subsidiaries at Level 7 or equivalent, as such
group shall be constituted immediately prior to a Change of Control. At or before the occurrence of a Change of Control, the Company shall notify the Group III Participants in writing of their status as Participants in the Plan.

  

	 	(Z)	“Notice of Termination” shall mean a notice which shall indicate the specific termination provision in the Plan relied upon and shall set forth in
reasonable detail the facts and circumstances claimed to provide a basis for termination of the Participant’s employment under the provision so indicated. 

 

	 	(AA)	“Participants” shall mean, collectively, the Group I Participants, the Group II Participants and the Group III Participants. 

 

	 	(BB)	“Proprietary Information Agreement” shall mean the Company’s form of Proprietary Information and Inventions Agreement in the form in effect
immediately prior to a Change of Control. 

  

	 	2.	 Effective Date and Term of Plan. The Plan, as amended and restated, shall be effective as of December 9, 2010 and shall continue in
effect through December 31, 2014; provided, however, that commencing on December 31, 2014 and on each December 31 thereafter, the Plan shall automatically be extended for one additional year by adding one year to the last day
of the term as then in effect unless, not later than November 30 of such year, the Company shall have given 

  
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notice to the Participants that the term of the Plan will not be extended; provided, further, that if a Change of Control occurs during the original or any extended term of the Plan, the
term of the Plan shall continue in effect for a period of not less than twenty-four (24) months beyond the month in which such Change of Control occurred. 

 

	 	3.	Administration. 

  

	 	(A)	The Plan shall be interpreted, administered and operated by the Compensation Committee, except that if the Compensation Committee determines that a Change of Control is
likely to occur, the Compensation Committee shall appoint a person or group of persons who shall constitute the Administration Committee after the occurrence of the Change of Control, which Administration Committee shall have the power to interpret,
administer and operate the Plan after the occurrence of the Change of Control. The Administration Committee shall have complete authority, in its sole discretion subject to the express provisions of the Plan, to determine who shall be a Participant,
to interpret the Plan, to prescribe, amend and rescind rules and regulations relating to it, and to make all other determinations necessary or advisable for the administration of the Plan. The Administration Committee may delegate any of its duties
hereunder to such person or persons from time to time as it may designate. 

  

	 	(B)	All expenses and liabilities which members of the Administration Committee incur in connection with the administration of the Plan shall be borne by the Company. The
Administration Committee may employ attorneys, consultants, accountants, appraisers, brokers, or other persons in connection with such administration, and the Administration Committee, the Company and the Company’s officers and directors shall
be entitled to rely upon the advice, opinions or valuations of any such persons. No member of the Compensation Committee, the Administration Committee or the Board shall be personally liable for any action, determination or interpretation made in
good faith with respect to the Plan, and all members of the Compensation Committee, the Administration Committee and the Board shall be fully protected by the Company in respect of any such action, determination or interpretation.

  

	 	4.	Benefits Provided. 

  

	 	4.1	Termination After Change of Control. If a Participant’s employment is terminated during a Change of Control Period (a) by the Company other than for
Cause or Disability, or (b) by the Participant for Good Reason, the Company shall pay the Participant the amounts, and provide the Participant with the benefits, described in this Section 4.1. 

 

	 	(A)	 Cash Severance Payment. In lieu of any further salary payments to the Participant for periods subsequent to the Date of Termination and in lieu
of any severance benefit otherwise payable to the Participant (other than accrued vacation and similar benefits otherwise payable upon termination of employment 

  
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pursuant to Company policies and programs), the Company shall pay to the Participant the Cash Severance Payment. 

 

	 	(B)	Benefits. Subject to subsection (B) of Section 11.6 hereof, if, as a result of the Participant’s termination of employment, the Participant
becomes entitled to, and timely elects to continue, health care (including any applicable vision benefits) and/or dental coverage under COBRA, the Company shall provide the Participant and his or her dependents with Company-paid group health and
dental insurance continuation coverage under COBRA during the Benefits Continuation Period. 

  

	 	(C)	The Company shall pay to the Participant any earned but unpaid portion of the Participant’s base salary as of the Date of Termination at the rate in effect at the
time Notice of Termination is given, plus all other amounts to which the Participant is entitled under any compensation plan or practice of the Company at the time such payments are due. 

 

	 	(D)	The Participant shall be fully vested in his or her accrued benefits under the Amgen Retirement Savings Plan and the Amgen Supplemental Retirement Plan, as applicable.
The Company shall provide the Participant with either, in the Company’s sole discretion, a lump-sum cash payment or a contribution to the Amgen Supplemental Retirement Plan, in an amount equal to the sum of (1) the product of $2,500 and
the Benefits Multiple and (2) the product of (x) 0.10, (y) the sum of (i) the Participant’s annual base salary as in effect immediately prior to the Date of Termination or, if higher, as in effect immediately prior to the
Change of Control, plus (ii) the Participant’s targeted annual bonus for the year in which such Date of Termination occurs (determined as the product of the Participant’s annual base salary and the Participant’s target annual
bonus percentage, each as in effect immediately prior to the Date of Termination or, if higher, as in effect immediately prior to the Change of Control) and (z) the Benefits Multiple. Subject to subsection (B) of Section 11.6 hereof,
payment under this Section 4.1(D) will be made within 45 days (or as soon thereafter as is administratively practicable) after the Date of Termination, but in no event more than two and one-half months after the end of the calendar year in
which the Date of Termination occurs. 

  

	 	(E)	In any situation where under applicable law the Company has the power to indemnify (or advance expenses to) the Participant in respect of any judgments, fines,
settlements, loss, cost or expense (including attorneys’ fees) of any nature related to or arising out of the Participant’s activities as an agent, employee, officer or director of the Company or in any other capacity on behalf of or at
the request of the Company, the Company shall promptly on written request, indemnify (and advance expenses to) the Participant to the fullest extent permitted by applicable law. Such agreement by the Company shall not be deemed to impair any other
obligation of the Company respecting the Participant’s indemnification otherwise arising out of this or any other agreement or promise of the Company or under any statute. 

  
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	 	(F)	For the four (4) year period immediately following the Date of Termination, the Company shall furnish each Participant who was a director and/or officer of the
Company at any time prior to the Date of Termination with directors’ and/or officers’ liability insurance, as applicable, insuring the Participant against insurable events which occur or have occurred while the Participant was a director
or officer of the Company, such insurance to have policy limits aggregating not less than the amount in effect immediately prior to the Change of Control, and otherwise to be in substantially the same form and to contain substantially the same
terms, conditions and exceptions as the liability insurance policies provided for officers and directors of the Company in force from time to time, provided, however, that if the aggregate annual premiums for such insurance at any time during
such period exceed one hundred and fifty percent (150%) of the per annum rate of premium currently paid by the Company for such insurance, then the Company shall provide the maximum coverage that will then be available at an annual premium
equal to one hundred and fifty percent (150%) of such rate. 

  

	 	4.2	             

  

	 	(A)	All calculations required to be made under Section 4.1 hereof, including the amount of the Cash Severance Payment and the assumptions to be utilized in arriving at
such calculations shall be made by the Accountants. The Accountants shall provide the Participant and the Company with detailed supporting calculations with respect to such calculations at least fifteen (15) business days prior to the date of
the Change of Control (or as soon as practicable in the event that the Accountants have less than fifteen (15) business days advance notice of the potential occurrence of the Change of Control) with respect to the impact of any payment which
will be made to the Participant before, at or immediately after the Change of Control and from time to time thereafter to the extent that the Participant may become entitled to receive any additional payments or benefits which would affect the
amount of any “excess parachute payments” within the meaning of Section 280G(b)(1) of the Code payable to the Participant in order that the Participant may determine whether it is in the best interest of the Participant to waive the
receipt of any or all amounts which may constitute “excess parachute payments.” Any calculation by the Accountants shall be binding upon the Company and the Participant. All fees and expenses of the Accountants under this Section 4.2
shall be borne solely by the Company. 

  

	 	(B)	 Notwithstanding any other provision of this Plan, in the event that any payment or benefit received or to be received by the Participant, including any
payment or benefit received in connection with a termination of the Participant’s employment, whether pursuant to the terms of this Plan or any other plan, arrangement or agreement, (all such payments and benefits, including the payments and
benefits under Section 4 hereof, being hereinafter referred to as the “Total Payments”) would be subject (in whole or part), to the excise tax imposed under Section 4999 of the Code (the “Excise Tax”),
then, after taking into account any reduction in the Total Payments provided by reason of Section 280G of the Code in such other plan, arrangement or agreement, the payments under this Plan shall be reduced in the order specified below, to the
extent necessary so that no 

  
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portion of the Total Payments is subject to the Excise Tax but only if (i) the net amount of such Total Payments, as so reduced (and after subtracting the net amount of federal, state and
local income taxes on such reduced Total Payments and after taking into account the phase out of itemized deductions and personal exemptions attributable to such reduced Total Payments) is greater than or equal to (ii) the net amount of such
Total Payments without such reduction (but after subtracting the net amount of federal, state and local income taxes on such Total Payments and the amount of Excise Tax to which the Participant would be subject in respect of such unreduced Total
Payments and after taking into account the phase out of itemized deductions and personal exemptions attributable to such unreduced Total Payments). The payments and benefits under this Plan shall be reduced in the following order: (A) reduction
of any cash severance payments otherwise payable to the Participant that are exempt from Section 409A of the Code; (B) reduction of any other cash payments or benefits otherwise payable to the Participant that are exempt from
Section 409A of the Code, but excluding any payments attributable to any acceleration of vesting or payments with respect to any equity award that are exempt from Section 409A of the Code; (C) reduction of any other payments or
benefits otherwise payable to the Participant on a pro-rata basis or such other manner that complies with Section 409A of the Code, but excluding any payments attributable to any acceleration of vesting and payments with respect to any equity
award that are exempt from Section 409A of the Code; and (D) reduction of any payments attributable to any acceleration of vesting or payments with respect to any equity award that are exempt from Section 409A of the Code, in each
case beginning with payments that would otherwise be made last in time. 

  

	 	(C)	For purposes of determining whether and the extent to which the Total Payments will be subject to the Excise Tax, (i) no portion of the Total Payments the receipt
or enjoyment of which the Executive shall have waived at such time and in such manner as not to constitute a “payment” within the meaning of Section 280G(b) of the Code shall be taken into account; (ii) no portion of the Total
Payments shall be taken into account which, in the written opinion of the Accountants, does not constitute a “parachute payment” within the meaning of Section 280G(b)(2) of the Code (including by reason of Section 280G(b)(4)(A)
of the Code) and, in calculating the Excise Tax, no portion of such Total Payments shall be taken into account which, in the opinion of the Accountants, constitutes reasonable compensation for services actually rendered, within the meaning of
Section 280G(b)(4)(B) of the Code, in excess of the Base Amount (as defined in Section 280G(b)(3) of the Code) allocable to such reasonable compensation; and (iii) the value of any non-cash benefit or any deferred payment or benefit
included in the Total Payments shall be determined by the Accountants in accordance with the principles of Sections 280G(d)(3) and (4) of the Code. 

  

	 	4.3	 Subject to subsection (B) of Section 11.6 hereof, the cash payments provided in subsections (A), (C) and (D) of Section 4.1
hereof shall be made by the fifth (5th) day following the receipt by the Participant of the Accountants’ calculation, but in no event later than March 15 of the calendar year following the calendar year in

  
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which the Participant’s employment is terminated. As a result of uncertainty in the application of Section 280G and Section 4999 of the Code at the time of the initial calculation
by the Accountants hereunder, it is possible that the Cash Severance Payment made by the Company will have been less than the Company should have paid pursuant to Section 4.1(A) hereof, as the case may be (the amount of any such deficiency, the
“Underpayment”) or more than the Company should have paid pursuant to Section 4.1(A) hereof, as the case may be (the amount of any such overage, the “Overpayment”). In the event of an Underpayment, the Company shall pay the
Participant the amount of such Underpayment (together with interest at 120% of the rate provided in Section 1274(b)(2)(B) of the Code) not later than five (5) business days after the amount of such Underpayment is subsequently determined,
provided, however, such Underpayment shall not be paid later than the end of the calendar year following the calendar year in which the Participant remitted the related taxes. In the event of an Overpayment, the amount of such Overpayment
shall constitute a loan by the Company to the Participant, payable not later than five (5) business days after the amount of such Overpayment is subsequently determined (together with interest at 120% of the rate provided in
Section 1274(b)(2)(B) of the Code). 

  

	 	4.4	At the time that any payments are made under the Plan, the Company shall provide the Participant with a written statement setting forth the manner in which such
payments were calculated and the basis for such calculations including, without limitation, any opinions or other advice the Company has received from its counsel, the Accountants or other advisors or consultants (and any such opinions or advice
which are in writing shall be attached to the statement). 

  

	 	5.	Termination Procedures. 

  

	 	5.1	Notice of Termination. Any purported termination of a Participant’s employment following a Change of Control (other than by reason of death) shall be
communicated by written Notice of Termination from one party to the other party in accordance with Section 8 hereof. Further, no termination for Cause shall be effective without (a) reasonable notice to the Participant setting forth the
reasons for the Company’s intention to terminate which specifies the particulars thereof in detail, and (b) in the case of clause (ii) of the definition of Cause above, an opportunity for the Participant to cure such Cause within
twenty (20) days after receipt of such notice. With respect to the Group I Participants, the Notice of Termination must include a written statement that a majority of the entire membership of the Board has determined that the Participant was
guilty of the conduct constituting Cause. With respect to Group II Participants and Group III Participants, the Notice of Termination must include a written statement by one of the Participant’s direct or indirect supervisors that the
supervisor has determined that the Participant was guilty of conduct constituting Cause. 

  

	 	6.	 No Mitigation. The Company agrees that, in order for a Participant to be eligible to receive the payments and other benefits described
herein, the Participant is not required to seek other employment or to attempt in any way to reduce any 

  
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amounts payable to the Participant by the Company pursuant to Section 4 hereof. Further, the amount of any payment or benefit provided for in the Plan shall not be reduced by any
compensation earned by the Participant as the result of employment by another employer, by retirement benefits, by offset against any amount claimed to be owed by the Participant to the Company, or otherwise. 

 

	 	7.	Successors; Binding Agreement. 

  

	 	7.1	             

  

	 	(A)	The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or
assets of the Company to expressly assume the Plan and all obligations of the Company hereunder in the same manner and to the same extent that the Company would be so obligated if no such succession had taken place. 

 

	 	(B)	This Plan shall inure to the benefit of and shall be binding upon the Company, its successors and assigns, but without the prior written consent of the Participants the
Plan may not be assigned other than in connection with the merger or sale of any part of the business and/or assets of the Company or similar transaction in which the successor or assignee assumes (whether by operation of law or express assumption)
all obligations of the Company hereunder. 

  

	 	7.2	This Plan shall inure to the benefit of and be enforceable by the Participant’s personal or legal representatives, executors, administrators, successors, heirs,
distributees, devisees, legatees or other beneficiaries. If a Participant shall die while any amount would still be payable to such Participant hereunder (other than amounts which, by their terms, terminate upon the death of the Participant) if such
Participant had continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of the Plan to the executors, personal representatives or administrators of such Participant’s estate.

  

	 	8.	Notices. For the purpose of the Plan, notices and all other communications provided for in the Plan shall be in writing and shall be deemed to have been
duly given when delivered or mailed by United States registered mail, return receipt requested, postage prepaid, addressed, if to a Participant, to the address on file with the Company and, if to the Company, to the address set forth below, or to
such other address as either party may have furnished to the other in writing in accordance herewith, except that notice of change of address shall be effective only upon actual receipt: 

 

	 	    	One Amgen Center Drive 

	 	    	Thousand Oaks, California 91320-1789 

	 	    	Attention: Corporate Secretary 

  
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	 	9.	Claims Procedures; Expenses. 

  

	 	9.1	The Participant’s assertion of a right to benefits under, in connection with, or in any way related to the Plan constitutes Participant’s agreement to resolve
covered disputes against any person or entity pursuant to this Section 9. 

  

	 	9.2	Claim for Benefits. A Participant may file with the Administration Committee a written claim for benefits under the Plan. The Administration Committee shall,
within a reasonable time not to exceed ninety (90) days, unless special circumstances require an extension of time of not more than an additional ninety (90) days (in which event a Participant will be notified of the delay during the first
ninety (90) day period), provide adequate notice in writing to any Participant whose claim for benefits shall have been denied, setting forth the following in a manner calculated to be understood by the Participant: (i) the specific reason
or reasons for the denial; (ii) specific reference to the provision or provisions of the Plan on which the denial is based; (iii) a description of any additional material or information required to perfect the claim, and an explanation of
why such material or information is necessary; and (iv) information as to the steps to be taken in order that the denial of the claim may be reviewed, including a statement of the Participant’s right to bring an action under
Section 502(a) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) following an adverse determination of the claim. 

 

	 	9.3	Review of Claims. If a Participant’s claim has been denied and the Participant wishes to submit a request for a review of such claim, the Participant must
follow the claims review procedure below: 

  

	 	(A)	Upon the denial of a claim for benefits, a Participant may file a request for review of the claim, in writing, with the Administration Committee or any person or
persons to whom the Administration Committee has delegated its duties hereunder, including a claims processor; 

  

	 	(B)	The Participant must file the claim for review not later than 60 days after the Participant has received written notification of the denial of the claim;

  

	 	(C)	The Participant has the right to review and obtain copies of all relevant documents relating to the denial of the claim and to submit any issues and comments, in
writing, to the Administration Committee; 

  

	 	(D)	If the claim is denied, the Administration Committee must provide the Participant with written notice of this denial within 60 days after the Administration
Committee’s receipt of the Participant’s written claim for review. There may be times when this 60-day period may be extended. This extension may only be made, however, when there are special circumstances that are communicated to the
Participant in writing within the 60-day period. If there is an extension, a decision will be made as soon as possible, but not later than 120 days after receipt by the Administration Committee of the claim for review; and 

  
 12 

  

	 	(E)	The Administration Committee’s decision on the claim for review will be communicated to the Participant in writing, and if the claim for review is denied in whole
or part, the decision will include: (i) the specific reason or reasons for the denial; (ii) specific reference to the provision or provisions of the Plan on which the denial is based; (iii) a statement that the Participant may
receive, upon request and free of charge, reasonable access to and copies of, all documents, records and other information relevant to the claim; and (iv) a statement of the Participant’s right to bring an action under Section 502(a)
of ERISA. 

  

	 	9.4	Expenses, Legal Fees. The Company shall pay to the Participant all reasonable expenses (including reasonable attorneys’ fees and legal expenses) incurred by
the Participant with respect to any dispute or controversy arising under or in connection with the Plan (including, without limitation, all such fees and expenses, if any, incurred in contesting or disputing any termination of the Participant’s
employment or in seeking to obtain or enforce any right or benefit provided by the Plan, or in connection with any tax audit or proceeding to the extent attributable to the application of Section 4999 of the Code to any payment or benefit
provided hereunder) if the Participant prevails on any material issue which is in dispute with respect to such dispute or controversy. The Company shall make such payments no later than the last day of the Participant’s taxable year immediately
following the taxable year in which the expenses are incurred. 

  

	 	10.	Confidentiality; Non-Solicitation. 

  

	 	10.1	Confidentiality. With respect to each Participant, during the Participant’s Benefits Continuation Period, the Participant shall not directly or indirectly
disclose or make available to any person, firm, corporation, association or other entity for any reason or purpose whatsoever, any Confidential Information. Upon termination of a Participant’s employment with the Company, all Confidential
Information in the Participant’s possession that is in written or other tangible form (together with all copies or duplicates thereof, including computer files) shall be returned to the Company and shall not be retained by the Participant or
furnished to any third party, in any form except as provided herein; provided, however, that the Participant shall not be obligated to treat as confidential, or return to the Company copies of any Confidential Information that (i) was
publicly known at the time of disclosure to the Participant, (ii) becomes publicly known or available thereafter other than by any means in violation of the Plan or any other duty owed to the Company by any person or entity, or (iii) is
lawfully disclosed to the Participant by a third party. In addition, each Participant shall be subject to the Company’s policies regarding proprietary information and inventions, as set forth in the Proprietary Information Agreement.

  

	 	10.2	 Non-Solicitation. In addition to each Participant’s obligations under the Proprietary Information Agreement, during a Participant’s
Benefits Continuation Period, the Participant shall not, either on the Participant’s own account or jointly with or as a manager, agent, officer, employee, consultant, partner, joint venturer, owner or stockholder or otherwise on behalf of any
other person, firm or 

  
 13 

	 	 
corporation, directly or indirectly solicit or attempt to solicit away from the Company any of its officers or employees or offer employment to any person who is an officer or employee of the
Company; provided, however, that a general advertisement to which an employee of the Company responds shall in no event be deemed to result in a breach of this Section 10.2. 

 

	 	10.3	Breach; Violation. In the event that a Participant breaches or violates any provision of Section 10.1 or 10.2 hereof, the Participant shall thereupon
forfeit any right and interest of the Participant to receive payments or benefits hereunder, and the Company shall thereupon have no further obligation to provide such payments or benefits to the Participant hereunder. 

 

	 	10.4	Survival of Provisions. The provisions of this Section 10 shall survive the termination or expiration of the applicable Participant’s employment with
the Company and shall be fully enforceable thereafter. If it is determined by a court of competent jurisdiction in any state that any restriction in this Section 10 is excessive in duration or scope or is unreasonable or unenforceable under the
laws of that state, it is the intention of the parties that such restriction may be modified or amended by the court to render it enforceable to the maximum extent permitted by the law of that state. 

 

	 	11.	Miscellaneous. 

  

	 	11.1	No Waiver. No waiver by the Company or any Participant, as the case may be, at any time of any breach by the other party of, or of any lack of compliance with,
any condition or provision of the Plan to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. All other plans, policies and arrangements of the
Company in which the Participant participates during the term of the Plan shall be interpreted so as to avoid the duplication of benefits paid hereunder. 

  

	 	11.2	No Right to Employment. Nothing contained in the Plan or any documents relating to the Plan shall (i) confer upon any Participant any right to continue as a
Participant or in the employ of the Company or a subsidiary, (ii) constitute any contract or agreement of employment, or (iii) interfere in any way with the at-will nature of the Participant’s employment with the Company.

  
 14 

	 	11.3	Termination and Amendment of Plan. The Company shall have the right to amend (and to amend or cancel any amendments), or, subject to Section 2 hereof,
terminate the Plan at any time by resolution of the Board; provided, however, that after a Change of Control, the Company may not terminate the Plan and no amendment to the Plan shall be made which removes any Participant from participation
in the Plan, which amends subsection (W), (X) or (Y) of Section 1 hereof or which adversely affects a Participant’s interests without the express written consent of the Participant(s) so affected. Subject to Section 10.3
hereof, notwithstanding anything contained herein to the contrary, all obligations accrued by Participants prior to any termination of the Plan must be satisfied in full in accordance with the terms hereof. 

 

	 	11.4	Benefits not Assignable. Except as otherwise provided herein or by law, no right or interest of any Participant under the Plan shall be assignable or
transferable, in whole or in part, either directly or by operation of law or otherwise, including, without limitation, by execution, levy, garnishment, attachment, pledge or in any manner; no attempted assignment or transfer thereof shall be
effective; and no right or interest of any Participant under the Plan shall be liable for, or subject to, any obligation or liability of such Participant. When a payment is due under the Plan to a Participant who is unable to care for his or her
affairs, payment may be made directly to his or her legal guardian or personal representative. 

  

	 	11.5	Tax Withholding. The Company shall withhold from any payments made to a Participant under this Plan all federal, state and local income, employment and other
taxes that the Company reasonably determines to be required to be withheld by the Company in connection with such payments, in amounts and in a manner to be determined in the sole discretion of the Company. Except to the extent specifically provided
within this Plan or any separate written agreement between a Participant and the Company, a Participant shall be solely responsible for the satisfaction of any taxes with respect to the benefits payable to the Participant under this Plan (including,
but not limited to, employment taxes imposed on employees and additional taxes on nonqualified deferred compensation). 

  

	 	11.6	Code Section 409A. 

  

	 	(A)	Generally. Although the Company intends and expects that the Plan and its payments and benefits will not give rise to taxes imposed under Section 409A of
the Code, neither the Company, nor its employees, directors, or agents shall have any obligation to mitigate or to hold any Participant harmless from any or all of such taxes. 

 

	 	(B)	 Section 409A Six-Month Delayed Payment Rule. If any payments or benefits that become payable under this Plan on account of the
Participant’s termination of employment constitute a deferral of compensation under Code Section 409A, such payments or benefits will be provided when the Participant incurs a “separation from service” within the meaning of
Treasury Regulation § 1.409A-1(h) or successor provision (“Separation from Service”). If, at the time of the Participant’s Separation from Service, the Participant is a “specified employee” (within the meaning of
Section 409A of the Code and Treasury Regulation Section 1.409A-1(i) or successor provision), the Company will not pay or provide any “Specified Benefits” (as defined herein) during the six-month period beginning with the date of
the Participant’s Separation from Service (the “409A Suspension Period”). In the event of a Participant’s death, however, the Specified Benefits shall be paid to the Participant’s Beneficiary without regard to the 409A
Suspension Period. For purposes of this Plan, “Specified Benefits” are any payments or benefits that would be subject to Section 409A additional taxes if the

  
 15 

	 	 
Company were to pay them, pursuant to this Plan, on account of the Participant’s “separation from service.” Within 14 calendar days after the end of the 409A Suspension Period, the
Participant shall be paid a lump-sum payment in cash equal to any Specified Benefits delayed during the 409A Suspension Period. 

  

	 	11.7	California Law. This Plan shall be construed, interpreted and the rights of the parties determined in accordance with the laws of the State of California, to the
extent not preempted by federal law, which shall otherwise control. 

  

	 	11.8	Validity. The invalidity or unenforceability of any provision of the Plan shall not affect the validity or enforceability of any other provision of the Plan,
which shall remain in full force and effect. If the Plan shall for any reason be or become unenforceable by either party, the Plan shall thereupon terminate and become unenforceable by the other party as well. 

  
 16Form of Change of Control Agreement

 Exhibit 10.1 
 CHANGE OF CONTROL AGREEMENT 
 This Change of Control Agreement (the
“Agreement”) is entered into effective as of <<DATE>> by and between STANCORP FINANCIAL GROUP, INC., an Oregon corporation (the “Company”), having its principal place of business at 1100 SW Sixth Avenue,
Portland, Oregon 97204, and <<NAME>> (“Executive”), whose address is <<ADDRESS>>. 

RECITALS 

A. The Company is a public company. The Company recognizes that, as is the case with many publicly held corporations, the possibility of
a change of control may exist, and that such possibility, and the uncertainty and questions it may raise among management, may result in the departure or distraction of key management personnel to the detriment of the Company. 

B. It is in the best interests of the Company that key management personnel, including Executive, continue to be employed by the Company
or a subsidiary of the Company, perform the responsibilities of their positions without undue distraction and exercise their judgment without bias or concern due to their personal circumstances. 

C. Accordingly, the Company has determined that appropriate steps should be taken to reinforce and encourage the continued attention and
dedication of key members of the Company’s management to their assigned duties without distraction resulting from the possibility of a change of control of the Company. 
 D. To induce Executive to remain employed by the Company or a subsidiary of the Company in the face of uncertainties and a possible change of control, this Agreement, which has been approved by the Board
of Directors of the Company (the “Board”), sets forth the severance benefits that the Company will provide to Executive in the event that Executive’s employment is terminated subsequent to a “Change of Control” under the
circumstances described below. Capitalized terms not otherwise defined in this Agreement have the meanings given to such terms in Section 10. 
 AGREEMENT 
 THEREFORE, in consideration of the foregoing recitals
and the mutual covenants and agreements set forth below, the parties agree as follows: 
 1. Employment Relationship.
Executive is currently employed by the Company or by a subsidiary of the Company, as <<TITLE>>. Executive and the Company acknowledge that the Company or the subsidiary of the Company employing Executive (the “Employing
Subsidiary”) may terminate Executive’s employment for any or no reason at any time, subject to the obligation (if any) of the Company to provide the severance benefits specified in this Agreement in accordance with the terms hereof.

 2. Release of Claims. In consideration for the severance benefits outlined in this
Agreement, Executive agrees to execute a Release in the form attached as Exhibit A (the “Release”). Executive promises, as a condition precedent to receiving severance benefits under this Agreement other than those specified in
Section 5.2, to execute and deliver the Release to the Company by the later of (a) 45 days after the date Executive receives the Release, (b) the Termination Date, as defined in Section 10.7, or (c) the Change in Control, as
defined in Section 10.2. Any payments required under this Agreement other than those specified in Section 5.2 will be payable only after timely receipt by the Company of a signed Release from Executive and expiration of the applicable
revocation period. 
 3. Term and Termination of Agreement. This Agreement shall commence effective as of
<<EFFECTIVE DATE>> (the “Effective Date”) and shall continue in effect through December 31, <<YEAR>> (the “Expiration Date”); provided, however, that commencing on January 1, <<NEXT
YEAR>>, and each January 1 thereafter, the term of this Agreement shall automatically be extended for one additional year unless, not later than September 30 of the preceding year, the Company shall have given notice that it does not
wish to extend this Agreement; further provided, that no such notice may be given during the pendency of a Potential Change of Control, as defined in Section 10.5; further provided, that if a Change of Control shall have occurred
during the original or extended term of this Agreement, this Agreement shall continue in effect for a period of 24 months beyond the month in which such Change of Control occurred. 

3.1 Notwithstanding the foregoing, this Agreement shall terminate immediately if: 

3.1.1 Executive voluntarily terminates employment with the Company or the Employing Subsidiary other than for Good Reason, as defined in
Section 10.4; 
 3.1.2 the Company or the Employing Subsidiary terminates Executive’s employment for Cause, as
defined in Section 10.1; 
 3.1.3 Executive’s employment by the Company or the Employing Subsidiary is terminated by
reason of Executive’s death or Disability, as defined in Section 10.3; or 
 3.1.4 Executive’s employment is
terminated for any reason prior to the earlier of Shareholder Approval, as defined in Section 10.6, if applicable, or a Change of Control. 
 3.2 The Company may terminate this Agreement during Executive’s employment, if, prior to the earlier of Shareholder Approval, if applicable, or a Change of Control, Executive ceases to hold
Executive’s current position with the Company or the Employing Subsidiary (other than as a result of a promotion). 
 4.
Duties. The Executive shall cooperate with the Company and the Employing Subsidiary and shall promptly and fully perform such duties and discharge such responsibilities on a full-time basis as may reasonably be assigned by the Company or the
Employing Subsidiary to Executive from time to time. 

 5. Termination Following Change of Control. If a Change of Control occurs, and after
the earlier of Shareholder Approval, if applicable, or the Change of Control and no later than twenty-four (24) months after the Change of Control, Executive’s employment is or was terminated by the Company or the Employing Subsidiary
other than for Cause or Disability or by Executive for Good Reason, Executive shall be entitled to the benefits provided for in this Section 5. 
 5.1 As severance pay and in lieu of any other compensation for periods subsequent to the Termination Date, the Company shall pay Executive an amount in cash equal to two times the sum of
(a) Executive’s annual base salary in effect immediately prior to the earlier of Shareholder Approval, if applicable, or the Change of Control and (b) the incentive compensation payable to Executive under the Company’s Short Term
Incentive Plan at the target bonus for the year in which the earlier of Shareholder Approval, if applicable, or the Change of Control occurs. 
 5.2 For the eighteen-month period commencing with the Termination Date (specifically including a Termination Date that occurs after Shareholder Approval and prior to a Change in Control), the Company
shall arrange to provide Executive with group health, dental and life insurance benefits substantially similar to those which Executive was receiving immediately prior to the earlier of Shareholder Approval, if applicable, or the Change of Control,
and paid for by the Company or the Employing Subsidiary and the Executive in the same manner as immediately prior to the earlier of Shareholder Approval, if applicable, or the Change of Control. For purposes of Section 409A of the Internal
Revenue Code of 1986, as amended (the “Code”), the right to a series of monthly installment payments under this Section 5.2 shall be treated as a right to a series of separate payments. Notwithstanding the foregoing, the Company or
the Employing Subsidiary shall not provide any benefit otherwise receivable by Executive pursuant to this Section 5.2 to the extent that a similar benefit is actually received by Executive from a subsequent employer during such eighteen-month
period, and any such benefit actually received by Executive shall be promptly reported by Executive to the Company. 
 5.3 All
benefits to which Executive is entitled under the Company’s Retirement Plan for Home Office Personnel, Supplemental Retirement Plan for the Senior Management Group, 401(k) Plan, Deferred Compensation Plan for Senior Officers, and any other
retirement or deferred compensation plan shall immediately vest. 
 5.4 All outstanding stock options held by Executive on the
Termination Date under all stock option and stock incentive plans of the Company shall become immediately vested and exercisable in full and all outstanding stock options shall remain exercisable until the earlier of (a) the first anniversary
of the later of the Termination Date or the Change in Control (or, with respect to any incentive stock option, the date that is three months after the later of the Termination Date or the Change in Control) or (b) the option expiration date as
set forth in the applicable option agreement. 

 5.5 Notwithstanding anything in this Agreement to the contrary, whether or not Executive
becomes entitled to any benefits under this Section 5, if any of the benefits under this Section 5 or any other payment or benefit received or to be received by Executive in connection with a Change of Control of the Company (collectively,
“Severance Payments”) will be subject to the tax (the “Excise Tax”) imposed by Section 4999 of the Code (or any similar tax that may hereafter be imposed), and if the after-tax benefits Executive would receive from the total
Severance Payments are less than or equal to 115% of the after-tax benefits Executive would receive from the Capped Benefit (as defined below), the benefits payable under this Section 5 shall be reduced by an amount equal to the difference
between the Capped Benefit and the total Severance Payments. The “Capped Benefit” shall equal the total Severance Payments, reduced by the amount necessary to prevent any portion of the Severance Payments from being a “parachute
payment” as defined in Section 280G(b)(2) of the Code. The Capped Benefit would therefore equal 2.99 multiplied by Executive’s applicable “base amount” as defined in Section 280G(b)(3) of the Code. For purposes of
determining whether the after-tax benefits Executive would receive from the total Severance Payments are less than or equal to 115% of the after-tax benefits Executive would receive from the Capped Benefit, there shall be taken into account any
Excise Tax that would be imposed and all federal, state and local taxes required to be paid by Executive in respect of the receipt of such payments. If the Capped Benefit applies, the Company shall provide Executive with a reasonable opportunity to
request which of the benefits payable under this Section 5 shall be reduced. 
 For purposes of determining whether any
amounts will be subject to the Excise Tax and the amount of such Excise Tax, (a) all amounts representing the Severance Payments shall be treated as “parachute payments” within the meaning of Section 280G(b)(2) of the Code, and
all “excess parachute payments” within the meaning of Section 280G(b)(1) of the Code shall be treated as subject to the Excise Tax, unless in the opinion of tax counsel selected by the Company’s independent auditors and
acceptable to Executive, the Severance Payments (in whole or in part) do not constitute parachute payments, or such excess parachute payments (in whole or in part) represent reasonable compensation for services actually rendered within the meaning
of Section 280G(b)(4) of the Code in excess of the base amount within the meaning of Section 280G(b)(3) of the Code, or are otherwise not subject to the Excise Tax, (b) the amount of the Severance Payments which shall be treated as
subject to the Excise Tax shall be equal to the lesser of (1) the total amount of the Severance Payments or (2) the amount of excess parachute payments within the meaning of Section 280G(b)(1) of the Code (after applying clause (a),
above), and (c) the value of any non-cash benefits or any deferred payment or benefit shall be determined by the Company’s independent auditors in accordance with the principles of Sections 280G(d)(3) and (4) of the Code. For purposes
of determining whether the Capped Benefit applies, any non-cash benefits or deferred payments or benefits included in the total Severance Payments shall be given the same values as provided for in the immediately preceding sentence. 

6. Conditions on Eligibility for Severance Benefits. Executive shall not be eligible to receive the benefits provided for in
Section 5 if any of the following applies: 
 6.1 Executive fails to execute and deliver the Release in the time period set
forth in Section 2, or, if applicable, Executive executes and later revokes the Release within the revocation period; or 

 6.2 Executive fails to comply with Section 12 hereof. 

7. Tax Withholding; Subsequent Employment. 
 7.1 All compensation, benefits and payments provided for in this Agreement shall be paid after any withholding for taxes or other charges and authorized deductions required (or permitted) to be withheld
by the Company or the Employing Subsidiary, including but not limited to any federal income taxes, any applicable state taxes, FICA, Medicare and any similar state or federal taxes or required state or federal withholdings. 

7.2 Except as provided in Section 5.2, the amount of any payment or benefit provided for in this Agreement shall not be reduced,
offset or subject to recovery by the Company by reason of any compensation earned by Executive as the result of employment by another employer after termination. 
 8. Payments. All amounts to be paid by the Company to Executive pursuant to Section 5.1 shall be paid not later than thirty days following the later of the Termination Date, the Change in
Control or delivery of the executed Release to the Company; provided, however, that if the amounts of such payments cannot be fully determined on or before such date, the Company shall pay to Executive on such day an estimate, as determined
in good faith by the Company, of the minimum amount of such payments and shall pay the remainder of such payments (together with interest at the rate provided in Section 1274(b)(2)(B) of the Code) as soon as reasonably practicable after the
amount thereof can be determined, but in no event later than the ninetieth day after the later of the Termination Date or the Change in Control. If the amount of the estimated payment exceeds the amount subsequently determined to have been due, such
excess shall constitute a loan by the Company to the Executive payable on the fifth business day after demand therefore by the Company (together with interest at the rate provided in Section 1274(b)(2)(B) of the Code). 

9. Other Agreements. This Agreement shall supersede any prior change of control agreement or employment continuation agreement
between Company or any subsidiary of the Company and Executive. 
 10. Definitions. 

10.1 “Cause” shall mean termination of Executive’s employment in any of the following circumstances: 

10.1.1 In the reasonable judgment of the Board, Executive has neglected or willfully failed or refused to perform substantially
Executive’s reasonably assigned duties with the Company or the Employing Subsidiary (other than any such failure resulting from Executive’s Disability) and such failure continues for thirty days after a demand for substantial performance
is delivered to Executive by the Board, the Chief Executive Officer or the President of the Company which specifically identifies the manner in which the Board believes that Executive has neglected or willfully failed or refused to perform
substantially Executive’s duties; 

 10.1.2 In the reasonable judgment of the Board, Executive has engaged in dishonesty in
connection with or related to the performance of Executive’s material duties with the Company or the Employing Subsidiary; 
 10.1.3 Executive is found guilty by a court or regulatory body of having committed fraud or theft against the Company, the Employing Subsidiary or any governmental entity or of having committed a felony;

 10.1.4 Executive breaches in any material respect or voluntarily terminates this Agreement; or 

10.1.5 In the reasonable judgment of the Board, Executive engaged in gross negligence or willful misconduct that causes or may
reasonably be expected to cause material harm to the business, operations or reputation of the Company or any of its subsidiaries or affiliates. 
 10.2 “Change of Control” shall mean that one of the following events has taken place: 
 10.2.1 Any “Person,” as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (other than the Company, any trustee or
other fiduciary holding securities under an employee benefit plan of the Company, or any company owned, directly or indirectly, by the shareholders of the Company in substantially the same proportions as their ownership of stock of the Company ), is
or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 30% or more of the combined voting power of the Company’s then outstanding
securities; 
 10.2.2 The Company completes a merger or other consolidation of the Company with any other company, other than
(a) a merger or consolidation which results in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving
entity) 51% or more of the combined voting power of the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation or (b) a merger or consolidation effected to implement a
recapitalization of the Company (or similar transaction) in which no Person acquires more than 30% of the combined voting power of the Company’s then outstanding securities; 

10.2.3 The Company completes a sale or disposition of all or substantially all of its assets; or 

10.2.4 During any period of twelve months or less, individuals who at the beginning of such period constituted a majority of the Board
cease for any reason to constitute a majority of the Board unless the nomination or election of such new directors was approved by a vote of at least two-thirds of the directors then still in office who were directors at the beginning of such
period. 

 Notwithstanding anything set forth in this Section 10.2, no Change of Control shall be deemed to have
occurred for purposes of this Agreement by virtue of any transaction which results in Executive, or a group of Persons which includes Executive, acquiring, directly or indirectly, 25% or more of the combined voting power of the Company’s voting
securities. 
 10.3 “Disability” shall mean disability as determined under the Company’s long term
disability plan under which Executive is covered. 
 10.4 “Good Reason” shall mean and include the occurrence
after the earlier of Shareholder Approval, if applicable, or a Change of Control of any of the following circumstances unless such circumstances are fully corrected within 30 days after Executive gives notice of termination for Good Reason;
provided, however, that Executive must give such notice of termination for Good Reason no later than 90 days after the later of (a) notice to Executive of the applicable circumstance or (b) the Change of Control: 

10.4.1 The assignment of Executive to a different title, job or responsibilities that results in a material decrease in the level of
responsibility of Executive or in the nature or status of Executive’s position with respect to the surviving company after the earlier of Shareholder Approval, if applicable, or the Change of Control when compared to Executive’s level of
responsibility for the Company’s or the Employing Subsidiary’s operations or the nature or status of Executive’s position prior to the earlier of Shareholder Approval, if applicable, or the Change of Control; provided, that
Good Reason shall not exist if Executive continues to have the same or a greater general level of responsibility with respect to the former Company or Employing Subsidiary operations or a position of the same or greater nature or status after the
earlier of Shareholder Approval, if applicable, or the Change of Control as Executive had prior to the earlier of Shareholder Approval, if applicable, or the Change of Control even if the former Company or Employing Subsidiary operations are a
subsidiary or division of the surviving company. 
 10.4.2 A reduction by the Company, the Employing Subsidiary or the
surviving company in Executive’s annual base salary as in effect immediately prior to the earlier of Shareholder Approval, if applicable, or the Change of Control. 
 10.4.3 A material reduction by the Company, the Employing Subsidiary or the surviving company in total benefits available to Executive under cash incentive, stock incentive and other employee benefit
plans after the earlier of Shareholder Approval, if applicable, or the Change of Control compared to the total package of such benefits as in effect prior to the earlier of Shareholder Approval, if applicable, or the Change of Control. 

10.4.4 The failure by the Company to obtain from any successor (whether direct or indirect, by purchase, merger, consolidation or
otherwise) to all or substantially all of the business or assets of the Company the assent to this Agreement contemplated by Section 11 hereof. 
 10.4.5 The Company, Employing Subsidiary or the surviving company requires Executive to be based more than fifty miles from where Executive’s office is located immediately prior to the earlier of
Shareholder Approval, if applicable, or the Change of Control, 

 
except for required travel on company business to an extent substantially consistent with the business travel obligations which Executive undertook on behalf of the Company or Employing
Subsidiary prior to the earlier of Shareholder Approval, if applicable, or the Change of Control. 
 10.5 “Potential
Change in Control” shall be deemed to have occurred if (a) the Company enters into an agreement, the consummation of which would result in the occurrence of a Change in Control, or (b) any Person (including the Company) publicly
announces an intention to take or to consider taking actions which if consummated would constitute a Change in Control. 
 10.6
“Shareholder Approval” shall be deemed to have occurred if the shareholders of the Company approve an agreement entered into by the Company, the consummation of which would result in the occurrence of a Change in Control.

 10.7 “Termination Date” shall mean the final day of Executive’s active employment by the Company or the
Employing Subsidiary or the surviving company. Executive shall not be obligated to perform any services after the Termination Date that would prevent the termination of employment on such Termination Date from qualifying as a “separation from
service” as defined in Treasury Regulations §1.409A-1(h). 
 11. Successors; Binding Agreement.

 11.1 The Company will require any successor (whether direct or indirect, by purchase, merger, reorganization,
consolidation or otherwise to all or substantially all of the business or assets of the Company (“Successor”) expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be
required to perform it if no such succession had taken place. As used in this Agreement, “Company” shall mean the Company as herein before defined and any Successor which assumes and agrees to perform this Agreement by operation of law, or
otherwise. 
 11.2 This Agreement is personal to Executive and may not be transferred or assigned by Executive other than by
will or the laws of descent and distribution without the prior written consent of the Company. This Agreement shall inure to the benefit of and be enforceable by Executive and Executive’s personal or legal representatives, executors,
administrators, successors, heirs, distributees, devisees and legatees. If Executive should die while any amount would still be payable to Executive hereunder had Executive continued to live, all such amounts, unless otherwise provided herein, shall
be paid in accordance with the terms of this Agreement to Executive’s devisee, legatee or other designee or, if there is no such designee, to Executive’s estate. 
 12. Resignation of Corporate Offices. Executive will resign Executive’s office, if any, as a director, officer or trustee of the Company, its subsidiaries or affiliates and of any other
corporation or trust of which Executive serves as such at the request of the Company, effective as of the Termination Date. Executive agrees to provide the Company such written resignation(s) upon request and that no severance will be paid until
after such resignation(s) are provided. 

 13. Legal Fees and Expenses. If Executive asserts any claim in any contest (whether
initiated by Executive or by the Company) as to the validity, enforceability or interpretation of any provision of this Agreement, the Company shall pay Executive’s legal expenses (or cause such expenses to be paid) including, without
limitation, reasonable attorney’s fees, on a quarterly basis, upon presentation of proof of such expenses; provided, that Executive shall reimburse the Company for such amounts, plus simple interest thereon at the 90-day United States
Treasury Bill rate as in effect at the relevant time, compounded annually, if Executive shall not prevail, in whole or in part, as to any material issue as to the validity, enforceability or interpretation of any provision of this Agreement.

 14. Governing Law, Arbitration. This Agreement shall be construed in accordance with and governed by the laws of the
State of Oregon applied without reference to conflicts of laws principles. Any dispute or controversy arising under or in connection with this Agreement or the Release or the breach thereof, shall be settled exclusively by binding arbitration. The
arbitration shall be held at a site selected by the arbitrator(s) and shall be conducted in accordance with the Expedited Employment Arbitration Rules of the American Arbitration Association then in effect. The arbitrator shall be selected by the
mutual consent of the Company and Executive. If the parties cannot agree on an arbitrator, the dispute shall be heard by a panel of three arbitrators, one appointed by each of the parties and the third appointed by the other two arbitrators.
Judgment may be entered on the award of the arbitrator(s) in any court having jurisdiction. 
 15. Miscellaneous.
No provision of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing and signed by Executive and the Company. No waiver by either party hereto at any time of any breach by the
other party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. No
agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either party which are not expressly set forth in this Agreement. 

16. Severability. If any of the provisions or terms of this Agreement shall for any reason be held invalid or unenforceable, such
invalidity or unenforceability shall not affect any other terms of this Agreement, and this Agreement shall be construed as if such unenforceable term had never been contained in this Agreement. 

17. Entire Agreement. This Agreement sets forth the entire agreement of the parties hereto in respect of the subject matter
contained herein and during the term of the Agreement supersedes the provisions of all prior agreements, promises, covenants, arrangements, communications, representations or warranties, whether oral or written, by any officer, employee or
representative of any party hereto with respect to the subject matter hereof. Executive acknowledges that Executive is entering into this Agreement of his or her own free will and accord and with no duress. Executive has read the Agreement and the
Release, and Executive understands the legal consequences of the Agreement and the Release. 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first
above written. 
  

			
	STANCORP FINANCIAL GROUP, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	President and Chief Executive Officer
		
	Attest:	 	  

	Name:	 	
	Title:	 	Corporate Secretary
	
	Executive
	
	  

	<<Name>>

 EXHIBIT A 
 RELEASE 
 1. Parties. The parties to this Release (hereinafter
“Release”) are <<NAME>> and StanCorp Financial Group, Inc., an Oregon corporation. 
 1.1
Executive. For the purposes of this Release, “Executive” means <<NAME>>, and <<HIS/HER>> attorneys, heirs, executors, administrators, assigns, and spouse. 

1.2 The Company. For purposes of this Release, the “Company” means StanCorp Financial Group, Inc., an Oregon
corporation, its predecessors and successors, corporate affiliates, and all of each corporation’s officers, directors, employees, insurers, agents, or assigns, in their individual and representative capacities. 

2. Background and Purpose. Executive was employed by the Company or subsidiary of the Company (“Employing Subsidiary”).
Executive’s employment ended effective                              and a Change of Control, as
defined in Section 10.2 (“Change of Control”) of the Change of Control Agreement (“Agreement”), has occurred. 
 The purpose of this Release is to settle, and the parties hereby settle, fully and finally, any and all claims Executive may have against the Company or Employing Subsidiary, whether asserted or not,
known or unknown, including, but not limited to, claims arising out of or related to Executive’s employment, any claim for reemployment, or any other claims whether asserted or not, known or unknown, past or future, that relate to
Executive’s employment, reemployment, or application for reemployment. 
 3. Release. Except as reserved in
paragraphs 3 or 3.1, Executive waives, acquits and forever discharges the Company and the Employing Subsidiary from any obligations the Company has and all claims Executive may have including but not limited to obligations and/or claims arising from
the Agreement or any other document or oral agreement relating to employment compensation, benefits severance or post-employment issues. Except as reserved in Paragraph 3.1 or where expressly prohibited by law, Executive hereby releases the Company
and the Employing Subsidiary from any and all claims, demands, actions, or causes of action, whether known or unknown, arising from or related in any way to any employment of or past or future failure or refusal to employ Executive by the Company or
the Employing Subsidiary, or any other past or future claim that relates in any way to Executive’s employment, compensation, benefits, reemployment, or application for employment, with the exception of any claim Executive may have against the
Company or the Employing Subsidiary for enforcement of this Release. This Release includes any and all claims, direct or indirect, which might otherwise be made under any applicable local, state or federal authority, including but not limited to any
claim arising under the Oregon statutes dealing with employment, discrimination in employment, Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Americans With Disabilities Act, the Family and Medical Leave Act of 1993,
the Equal Pay Act of 1963, Executive Order 11246, the Rehabilitation Act of 1973, the Uniformed Services Employment and Reemployment Rights Act of 1994, the Age Discrimination in Employment Act, the Fair Labor Standards Act and Oregon wage and hour
statutes, all as amended, any regulations under such authorities, and any applicable contract, tort, or common law theories. 

 3.1 Reservations of Rights. This Release shall not affect any rights which Executive
may have under any medical insurance, disability plan, workers’ compensation, unemployment compensation, applicable Company stock incentive plan(s), indemnifications, or the 401(k) plan maintained by the Company. 

3.2 No Admission of Liability. It is understood and agreed that the acts done and evidenced hereby and the release granted
hereunder is not an admission of liability on the part of Executive, the Company or the Employing Subsidiary. 
 4.
Consideration to Executive. The consideration to Executive for execution and delivery of this Release to the Company is the obligations of the Company to provide severance benefits to Executive on the terms specified in the Agreement.

 5. No Disparagement. Executive agrees that, after the date of this Release, Executive will not disparage or make false
or adverse statements about the Company or the Employing Subsidiary. The Company shall report to Executive any actions or statements that are attributed to Executive that the Company believes are disparaging. The Company may take actions consistent
with breach of this Release should it determine that Executive has disparaged or made false or adverse statements about the Company or the Employing Subsidiary. 
 6. Confidentiality, Proprietary, Trade Secret and Related Information. In addition to Executive’s obligations under any other confidentiality agreements with respect to information about the
Company or the Employing Subsidiary, Executive agrees not to make unauthorized use or disclosure of any confidential, proprietary or trade secret information learned as an employee about the Company or the Employing Subsidiary, its products,
customers and suppliers, and covenants not to breach that duty. Should Executive, Executive’s attorney or agents be requested in any judicial, administrative, or other proceeding to disclose confidential, proprietary or trade secret information
Executive learned as an employee of the Company or the Employing Subsidiary, Executive shall promptly notify the Company of such request by the most expeditious means in order to enable the Company to take any reasonable and appropriate action to
limit such disclosure. 
 7. Scope of Release. The provisions of this Release shall be deemed to obligate, extend to, and
inure to the benefit of the parties; the Company’s parents, subsidiaries, affiliates, successors, predecessors, assigns, directors, officers, and employees; and each parties insurers, transferees, grantees, legatees, agents and heirs, including
those who may assume any and all of the above-described capacities subsequent to the execution and effective date of this Release. 
 8. Opportunity for Advice of Counsel. Executive acknowledges that Executive has been encouraged to seek advice of counsel with respect to this Release and has had the opportunity to do so.

 9. Entire Release. This Release and the Agreement signed by Executive contain the
entire agreement and understanding between the parties and, except as reserved in paragraph 3 and 3.1, supersede and replace all prior agreements written or oral. Executive and the Company acknowledge that no other party, nor agent nor attorney of
any other party, has made any promise, representation, or warranty, express or implied, not contained in this Release concerning the subject matter of this Release to induce this Release, and Executive and the Company acknowledge that they have not
executed this Release in reliance upon any such promise, representation, or warranty not contained in this Release. 
 10.
Severability. Every provision of this Release is intended to be severable. In the event any term or provision of this Release is declared to be illegal or invalid for any reason whatsoever by a court of competent jurisdiction or by final and
unappealed order of an administrative agency of competent jurisdiction, such illegality or invalidity should not affect the balance of the terms and provisions of this Release, which terms and provisions shall remain binding and enforceable.

 11. Parties May Enforce Release. Nothing in this Release shall operate to release or discharge any parties to this
Release or their successors, assigns, legatees, heirs, or personal representatives from any rights, claims, or causes of action arising out of, relating to, or connected with a breach of any obligation of any party contained in this Release.

 12. Costs and Attorney’s Fees. If Executive asserts any claim in any contest (whether initiated by Executive or
by the Company) as to the validity, enforceability or interpretation of any provision of this Release, the Company shall pay Executive’s legal expenses (or cause such expenses to be paid) including, without limitation, reasonable
attorney’s fees, on a quarterly basis, upon presentation of proof of such expenses; provided, that Executive shall reimburse the Company for such amounts, plus simple interest thereon at the 90-day United States Treasury Bill rate as in
effect at the relevant time, compounded annually, if Executive shall not prevail, in whole or in part, as to any material issue as to the validity, enforceability or interpretation of any provision of this Release. 

13. Acknowledgments. Executive acknowledges that the Agreement provides severance pay and benefits which the Company would
otherwise have no obligation to provide. 
 Executive acknowledges that the Company has provided the following information:
(a) the class or group of employees offered the opportunity to obtain severance benefits similar to those in the Release, (b) the eligibility factors required to obtain severance benefits similar to those in the Release, (c) the time
limits required to obtain severance benefits similar to those in the Release, (d) the job titles and ages of employees eligible or selected for severance benefits similar to those in the Release, and (e) the ages of employees in the same
classification either not eligible or not selected. 
 14. Revocation. As provided by the Older Workers Benefit
Protection Act, Executive’s is entitled to have forty-five days to consider this Release. For a period of seven days from execution of this Release, Executive may revoke this Release. Upon receipt of

 
Executive’s signed Release and the end of the revocation period, the Company will provide the severance benefits specified in the Agreement. 

 

			
	 Dated:
	 	            , 201  
		
		 	  

		 	<<NAME>>

  

							
	STATE OF OREGON	  	)	  		  	
		  		  	) ss.	  	
	County of                     	  	)	  		  	

 Personally appeared the above named
                             and acknowledged the foregoing instrument to be his or her
voluntary act and deed. 
 Before
me                                        
             
 Notary Public for 

My commission expires: 
 Dated
                     
  

					
		 	 StanCorp Financial Group, Inc.

			
		 	By:	 	  

		 	Name:	 	  

		 	Title:

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