Cerus Corporation adopted a new severance plan on April 17, 2026, covering four named executive officers with enhanced termination benefits tied to change of control scenarios.
Key takeaways
Board adopted a new Severance Plan effective April 17, 2026, superseding all prior severance arrangements for Plan Participants.
Plan Participants include CFO Kevin D. Green, COO Vivek Jayaraman, CMO Richard Benjamin, and CLO Chrystal N. Jensen.
Change of control termination benefits include 18-24 months salary, 1.5x-2x target bonus, and full equity acceleration.
Non-change of control terminations provide 12 months salary continuation and COBRA coverage for Messrs. Green and Jayaraman and Ms. Jensen.
Vivek Jayaraman receives elevated Tier 1 benefits (24 months salary, 2x bonus) if serving as CEO during a qualifying termination.