Juno 2015 Annual Report Download - page 24

Table of Contents
Other Benefits
We provide eligible employees with a 401(k) plan and various health and welfare and paid time-off benefits designed to enable us to attract and
retain our workforce in a competitive marketplace. Our 401(k) plan helps employees save and prepare financially for retirement. Our health and welfare and
paid time-off benefits help ensure that we have a productive and focused workforce. Except as noted below, our executive officers are eligible to participate
in these plans and programs on the same basis as our other employees.
 Our tax-qualified 401(k) plan allows eligible employees to contribute up to 40% of their pre-tax earnings, up to the annual dollar limit
set by law. We provide matching contributions equal to 25% of the employee’s contribution, to the extent such contribution does not exceed 6% of the
employee’s bi-weekly gross compensation.
 In addition to the regular health and welfare benefits generally offered to our U.S. employees, certain of our vice
presidents and our more senior executives, including our executive officers, were previously eligible to participate in the Exec-U-Care plan. Under this plan,
the participant’s health insurance premiums were paid by us, and certain other medical and dental expenses were reimbursed, up to certain maximum limits.
Effective December 31, 2014, the Company discontinued its participation in the Exec-U-Care plan and this benefit is no longer offered to company
employees. In October 2014, the Compensation Committee approved a payment of $5,000 to each executive officer affected by the termination of the Exec-
U-Care benefit, which was paid in even increments throughout 2015 provided such employees remained in the Company’s employ.
 We do not provide significant perquisites or other personal benefits to our executive officers.
Severance and Change-in-Control Benefits
The Compensation Committee believes that we should provide fair and reasonable severance and change-in-control benefits to our executives. The
severance and change-in-control benefits are intended to promote stability and continuity of senior management, attract and retain superior talent, and reflect
the potential difficulty for them to find comparable employment within a short period of time following their termination of employment with us.
Furthermore, the Compensation Committee believes such benefits align the interests of our executive officers with those of our stockholders with regard to
any potential sale of the Company by mitigating any personal disincentive to pursue transactions that may result in loss of employment.
Our amended and restated severance benefit plan applies to all eligible full-time U.S. employees. However, our offer letters and employment
agreements with the named executive officers, and the Change in Control Policy for Executives described below, often set forth severance and change-in-
control benefits that exceed those provided under our amended and restated severance benefit plan. The change-in-control benefits provided under the offer
letters and employment agreements and the Change in Control Policy for Executives are “double trigger”, meaning a qualifying termination of employment
is required for the named executive officer to become eligible for the benefits.
In February 2015, the Compensation Committee adopted and approved a Change in Control Policy for Executives (the “Policy”). The Policy
provides certain benefits if an eligible participant experiences a separation from service as a result of a termination of employment without cause, or a
termination of employment for good reason, in either case within 24 months following a Change in Control (as defined in the Policy) of the Company. If such
events occur and a participant has signed a general release of claims in favor of the Company, the Policy provides the following benefits to such participant:
· for the Chief Executive Officer, an amount equal to: two times (2X) annual salary as of the termination date, two times (2X) target bonus as of
the termination date, any earned but unpaid annual bonus with respect to the preceding fiscal year, a pro-rated annual bonus for the fiscal year
in which the termination date occurs, and up to 18 months of COBRA premiums (if such coverage is elected by the Chief Executive Officer);
· for any Tier I participant in the Policy, an amount equal to: one and one-half times (1.5X) annual salary as of the termination date, one and one-
half times (1.5X) target bonus as of the termination date, any earned but unpaid annual bonus with respect to the preceding fiscal year, a pro-
rated annual bonus for the fiscal year in which the termination date occurs, and up to 18 months of COBRA premiums (if such coverage is
elected by the participant);
· for any Tier II participant in the Policy, an amount equal to: one times (1X) annual salary as of the termination date, one times (1X) target bonus
as of the termination date, any earned but unpaid annual bonus with respect to the preceding fiscal year, a pro-rated annual bonus for the fiscal
year in which the termination date occurs, and up to 12 months of COBRA premiums (if such coverage is elected by the participant); and
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