SEC Contract Filing

Filing Date: 2021-06-23

Document Content:
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<TYPE>EX-10.9
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<FILENAME>d136958dex109.htm
<DESCRIPTION>EX-10.9
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<TITLE>EX-10.9</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.9 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TALKSPACE, 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:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Talkspace, Inc., a Delaware corporation (the &#147;<U>Company</U>&#148;), has adopted this Talkspace, Inc. Executive Severance Plan, including
the attached Exhibits&nbsp;(the &#147;<U>Plan</U>&#148;), for the benefit of Participants (as defined below) on the terms and conditions hereinafter stated. The Plan, as set forth herein, is intended to provide severance protections to a select
group of management or highly compensated employees (within the meaning of ERISA (as defined below)) in connection with qualifying terminations of employment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.&nbsp;&nbsp;&nbsp;&nbsp;<B>Defined Terms</B>. Capitalized terms used but not otherwise defined herein shall have the meanings indicated
below: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.1&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Base Compensation</U>&#148; means the Participant&#146;s annual base salary rate in effect
immediately prior to a Qualifying Termination, disregarding any reduction which gives rise to Good Reason. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.2&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Board</U>&#148; means the Board of Directors of the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.3&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Cash Salary Severance</U>&#148; means the portion of a Participant&#146;s Cash Severance that is based on
the Participant&#146;s Base Compensation determined in accordance with <U>Exhibit</U><U></U><U>&nbsp;A</U> or <U>Exhibit B</U> attached hereto, as applicable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.4&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Cash Severance Period</U>&#148; means the number of months during which the Participant is entitled to
Cash Salary Severance or Cash Severance, as applicable, beginning on the Date of Termination and determined in accordance with <U>Exhibit A</U> or <U>Exhibit B</U> attached hereto, as applicable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.5&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Cash Severance</U>&#148; means the Cash Salary Severance and, with respect to a CIC Termination, the
Incentive Compensation Severance, determined in accordance with <U>Exhibit</U><U></U><U>&nbsp;A</U> or <U>Exhibit B</U> attached hereto, as applicable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.6&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Cause</U>&#148; means, except as may otherwise be provided in a Participant&#146;s employment agreement to
the extent such agreement is in effect at the relevant time, any of the following events: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;the
Participant&#146;s willful failure substantially to perform his or her duties and responsibilities to the Company (other than any such failure resulting from the Participant&#146;s incapacity due to physical or mental illness or any such actual or
anticipated failure after his or her issuance of a notice of termination for Good Reason) or carry out or comply with a lawful and reasonable directive of the Company, in each case, after a written demand for performance is delivered to the
Participant by the Committee, which demand specifically identifies the manner in which the Committee believes that the Participant has not performed his or her duties; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;the Participant&#146;s deliberate violation of a Company policy; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;the Participant&#146;s commission of, including any entry by the Participant of a guilty or no contest plea to, any
felony under any state, federal or foreign law or any crime involving moral turpitude, or the Participant&#146;s commission of unlawful harassment or discrimination; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;the Participant&#146;s commission of any act of fraud, embezzlement, dishonesty or any other willful misconduct
that has caused or is reasonably expected to result in material reputational, economic or financial injury to the Company; </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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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;