ACELYRIN(US:SLRN)2024-05-09 12:13Severance and Compensation - Employee will receive a severance payment equivalent to twelve months of base salary, totaling $424,350, commencing thirty days after the Termination Date[7] - A pro-rated lump sum cash payment of $119,283.04 will be made to the Employee as a targeted annual discretionary bonus for 2024, based on the length of employment in that year[9] - The Company will pay up to $5,000 for reasonable attorney's fees related to the negotiation and execution of the Separation Agreement[27] - The Employee acknowledges compliance with the Separation Agreement and confirms receipt of all compensation owed through the Termination Date[44] Benefits and Options - The Company will cover the full monthly COBRA premiums for the Employee and covered dependents for up to twelve months post-termination[8] - The vesting of Employee Options and Employee RSUs will be accelerated, allowing the Employee to be deemed vested in options and units that would have vested within twelve months post-termination[10] - The exercise period for the vested Employee Options will be extended through December 31, 2024[10] Legal and Release Clauses - Employee must execute a supplemental release of claims within five days of the Termination Date to receive severance payments and benefits[11] - The Company releases the Employee from any claims arising from omissions, acts, or damages up until the date of signing the Agreement[18] - Employee represents that there are no pending lawsuits or claims against the Company or any of the Employee Releasees[23] - The Agreement does not limit the Employee's ability to file a charge with government agencies regarding unlawful acts in the workplace[21] - The Employee releases the Company from any claims related to employment, including salary, bonuses, and benefits[45] - The Company releases the Employee from any claims known or unknown up to the date of signing the Release[46] - The Employee waives rights under the ADEA and acknowledges the consideration for the waiver is additional to what was already entitled[50] - The Release will not be effective until the revocation period of seven days has expired[50] - The entire agreement regarding the subject matter is set forth in the Release and the Separation Agreement[51] - The governing law for the agreement is the State of California[36] - The Employee has been advised to consult with legal counsel before signing the Release[50] Employment Termination - The Company ended employment with Ron Oyston on August 15, 2024[43] - Employee acknowledges that no portion of the performance-based restricted stock unit award granted on August 16, 2023, has met the associated Success Factor, resulting in its forfeiture[10]