CeriBell, Inc. Change in Control and Severance Agreement with Executive
This agreement is between CeriBell, Inc. and an executive employee. It provides severance benefits if the executive is terminated without cause or resigns for good reason, either outside or during a change in control of the company. Key benefits include continued salary payments and healthcare coverage for a specified period, provided the executive signs a release of claims. The agreement aims to ensure the executive’s continued commitment and financial security in the event of job loss, especially during company transitions such as mergers or acquisitions.
Exhibit 10.23
CERIBELL, INC.
CHANGE IN CONTROL AND SEVERANCE AGREEMENT
This Change in Control and Severance Agreement (the “Agreement”) is made and entered into by and between [____________] (“Executive”) and CeriBell, Inc. (the “Company”), effective as of [the latest date set forth by the signatures of the parties hereto below]/[the date Executive commences employment with the Company]/[the date immediately prior to the Company’s registration statement relating to its initial public offering becomes effective] (the “Effective Date”).
Background
Agreement
The parties hereto agree as follows:
1 To equal 18 months for the CEO, for other executives the bracketed section shall be replaced with: “six months following the Termination Date in the event Executive has been employed by the Company for less than one year and otherwise shall be 12 months following the Termination Date”.
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2 To equal 18 months for the CEO, 12 months for other executives.
3 To equal 18 months for the CEO, 12 months for other executives.
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4 To not be included for CEO, CFO and GC.
5 To not be included for CEO, CFO and GC.
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(Signature page follows)
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The parties have executed this Agreement, in the case of the Company by its duly authorized member, as of the dates set forth below.
CERIBELL, INC. | |
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By: |
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Title: |
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EXECUTIVE | |
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[Name] |
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Date: |
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