Cerner Corporation Severance Matrix Effective August 25, 2016

Contract Categories: Human Resources › Severance Agreements
Summary

This document outlines Cerner Corporation's severance pay policy for employees terminated as of August 25, 2016. The severance benefits are based on the employee's role level and years of service, with higher-level positions and longer service periods receiving more weeks of severance pay. The matrix applies to various roles, from executive officers to lower-level employees, and specifies the number of severance weeks each category is entitled to. The definition of "executive officer" follows SEC rules and Cerner's Board designations.

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EX-10.1 2 ex101severancematrix.htm EXHIBIT 10.1 Exhibit

Exhibit 10.1

Exhibit A
Severance Matrix Effective August 25, 2016

Years of Service
Role Level
Less than 2 years
Severance Weeks
>2, less than 5 years
Severance Weeks
>5, less than 10 years
Severance Weeks
>10 years
Severance Weeks
Executive Committee / Executive Officersi / EVP
16
24
36
52
Senior Vice President
13
20
30
42
Vice President
10
16
24
32
Senior Director
8
14
21
28
Director
6
12
18
24
Levels 2 and 3
4
8
12
16
Levels 4 and 5
3
6
9
12
Levels 6, 7 and 8
2
4
6
8



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i "Executive officer" shall have the meaning ascribed to such term in Rule 3b-7 promulgated under the Securities Exchange Act of 1934, as amended, and shall include those persons designated as "executive officers" by the Cerner Corporation Board of Directors from time to time.