“Qualifying Termination”), then, subject to Employee’s compliance with Employee’s obligations
under this Agreement (including, for the avoidance of doubt, any of the Restrictive Covenants (as
defined below) and the Offer Letter and provided that Employee timely executes (and does not
subsequently revoke) a Release, Employee will be entitled to receive a lump sum payment equal to
the sum of (i) eighteen (18) months’ of base salary and annual bonus at target under the AIP, (ii) if
Buyer has not otherwise paid Employee a 2026 annual bonus, an amount equal to Employee’s
2026 annual bonus under the AIP, calculated assuming a full year of service with the Company
Group and based on actual performance as of the Closing (as reflected in Clarivate’s accruals for
the AIP at the time of Closing), and (iii) a lump sum payment equal to the employer portion of the
applicable monthly Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) premium
payment for the group medical plan in which the Employee was enrolled as of the termination of
employment date, multiplied by eighteen (18) months (collectively, the “Severance Amount”).
(b)The Severance Amount shall be paid to Employee by either the Company
Group, Buyer or an affiliate of Buyer within sixty (60) days of the Qualifying Termination,
provided that the signed Release has been returned to the Employee's employer prior to such date.
For the avoidance of doubt and notwithstanding anything herein to the contrary, in the event that
Buyer or an affiliate thereof does not pay the Severance Amount, the Company shall be obligated
to make such applicable payments. If Employee’s employment with the Company Group, Buyer
or an affiliate of Buyer, terminates for any reason other than those set forth in Section 2(a),
including a termination for Cause, Employee shall have no right to, and shall forfeit in its entirety
the right to receive, the Severance Amount (or, for the avoidance of doubt, any portion thereof).
For the avoidance of doubt, following the six (6)-month anniversary of the Closing, Employee
shall have no claim or right to the Severance Amount or any other severance benefits from the
Company Group including, without limitation, under the Offer Letter or the ESP.
(c)Employee acknowledges and agrees that any Severance Amount paid by the
Company Group or Buyer under this Section 2 is inclusive and in lieu of, and not in addition to,
any payments or benefits under the Offer Letter or any contractual or statutory notice or
redundancy pay, or any other payment compensating Employee in a redundancy situation. In the
event Employee receives any termination payments or benefits under the Offer Letter or applicable
law, the Severance Amount shall be reduced by the value of such payments and benefits.
3.Acknowledgments.
(a)The Company and Employee acknowledge that Employee’s employment is
and shall continue to be, except as expressly set forth in this Agreement, governed by the Offer
Letter. Employee acknowledges and agrees that nothing in this Agreement shall confer upon
Employee any right with respect to continuation of employment by or the continued receipt of
benefits from the Company Group, nor shall it interfere in any way with Employee’s right or the
Company’s right to terminate Employee’s employment at any time for any reason.
(b)Employee acknowledges that, in the event of Employee’s termination of
employment with the Company Group as a result of, or in connection with, the Sale, Employee
shall have no rights to any payments or benefits under the ESP (including, for the avoidance of
doubt, the ESP as originally adopted by the Board, effect as of June 30, 2021) and that this
Agreement sets out the entire agreement between the parties regarding Employee’s eligibility for
payments or benefits in connection with the Sale and any termination of employment in connection
therewith.