SEC Contract Filing

Filing Date: 2024-12-06

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d867835dex101.htm
<DESCRIPTION>EX-10.1
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>IONQ, INC. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXECUTIVE
SEVERANCE PLAN </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AND </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SUMMARY PLAN DESCRIPTION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>APPROVED BY THE BOARD OF DIRECTORS: July&nbsp;22, 2021 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AS AMENDED: December 3, 2024 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">1. <U>Introduction</U>. The purpose of this IonQ, Inc. Executive Severance Plan (the &#147;<U>Plan</U>&#148;) is to provide
assurances of specified severance benefits to eligible executives of the Company whose employment is terminated by the Company or a successor under certain circumstances. This Plan is an &#147;employee welfare benefit plan,&#148; as defined in
Section&nbsp;3(1) of ERISA (as defined below). With the exception of certain definitions set forth below, this Plan shall supersede any individual agreement between the Company and any Covered Employee (as defined below) and any other plan, policy
or practice, whether written or unwritten, maintained by the Company with respect to a Covered Employee, in each case to the extent that such agreement, plan, policy or practice provides for equity acceleration or severance benefits upon the Covered
Employee&#146;s separation from the Company. This document constitutes both the written instrument under which the Plan is maintained and the required summary plan description for the Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">2. <U>Definitions</U>. For purposes of the Plan, the terms below are defined as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">2.1. &#147;<U>Administrator</U>&#148; means the Board or Compensation Committee prior to a Change in Control; or, after a
Change in Control, one or more members of the successor Board or Compensation Committee or other persons designated by the Company&#146;s Board or Compensation Committee prior to such Change in Control. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">2.2. &#147;<U>Board</U>&#148; means the Board of Directors of the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">2.3. &#147;<U>Cause</U>&#148; means with respect to such Covered Employee, the occurrence of any of the following events:
(i)&nbsp;such Covered Employee&#146;s material failure to follow any proper and lawful directive of the Board that remains uncured more than thirty (30)&nbsp;days after a written demand is delivered to such Covered Employee that specifically
identifies the manner in which the Board believes that such Covered Employee has failed to follow such instructions, provided, that failure to meet performance targets shall not, in and of itself, be deemed a failure to follow any such instructions;
(ii)&nbsp;such Covered Employee&#146;s commission of an act of: (a)&nbsp;fraud, embezzlement, or theft; or (b)&nbsp;dishonesty that injures the business, business reputation or business relationships of the Company; (iii)&nbsp;such Covered
Employee&#146;s commission or conviction of, or pleading guilty or nolo contendere to, a felony; and (iv)&nbsp;such Covered Employee&#146;s material violation of any agreement between such Covered Employee and Company or of any material Company
policy that remains uncured (if curable) more than thirty (30)&nbsp;days after written notice thereof is delivered to such Covered Employee that specifically identities such violation. The determination of whether a termination is for Cause shall be
made by the Administrator in its sole and exclusive judgment and discretion. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">2.4. &#147;<U>Change in Control</U>&#148;
has the meaning ascribed to such term in the Stock Plan, excluding, for the avoidance of doubt, the transactions contemplated by the Agreement and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>

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Plan of Merger by and among the Company, dMY Technology Group, Inc. III and Ion Trap Acquisition Inc., closing as of the Effective Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">2.5. &#147;<U>Change in Control Period</U>&#148; means the time period beginning on the d