CERUS CORPORATION
Severance Plan
Participation AGREEMENT
Name of Covered Employee:
On behalf of Cerus Corporation I am pleased to inform you that you have been designated as a Covered Employee in Cerus Corporation Severance Plan (the “Plan”), a copy of which is attached as Exhibit A to this Participation Agreement (this “Agreement”). Capitalized terms used but not defined in this Agreement have the meanings provided in the Plan.
Eligibility and Benefits. In accordance with the Plan, you have been designated a “Tier 2 Covered Employee.” The benefits you may become entitled to receive on an Involuntary Termination in connection with a Change in Control are set forth in Section 4 of the Plan.
If your employment with the Company is terminated for any reason other than an Involuntary Termination during the Change in Control Period, or for any reason at any time other than during the Change in Control Period, you will not be eligible for severance benefits under the Plan or this Agreement.
Acknowledgements. By signing this Agreement, you hereby acknowledge each of the following:
Entire Agreement; Other Terms. The Plan and this Agreement form the complete and exclusive statement of your agreement with the Company regarding your rights to any severance payments or benefits, and they supersede and replace all other or prior agreements, whether oral or written, on that subject, as noted above. The terms and conditions of this Agreement inure to the benefit of and are binding upon the respective successors and permitted assignees of the parties hereto.
This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.
