On August 21, 2026, the Board of Directors (the “Board”) of Rocket Pharmaceuticals, Inc. (the “Company” or “Rocket”) adopted the Rocket Pharmaceuticals, Inc. Severance and Change in Control Program (the “Program”). The Program provides severance benefits to eligible employees of the Company, including its executive officers, in connection with certain qualifying terminations of employment, including terminations occurring in connection with a change in control of the Company. All Rocket employees in the United States who are not covered by another agreement or arrangement with the Company that provides for severance benefits are eligible for severance under the Program, provided that to be eligible for severance benefits not associated with a Change in Control (as defined in the Program), employees must have been employed at Rocket for at least one year.
Under the Program, upon a qualifying termination without “Cause” or resignation for “Good Reason” (each as defined in the Program) that does not occur in connection with a Change in Control, eligible employees are entitled to receive:
| • | For the CEO, fifteen months base salary and health care allowance continuation; |
| • | For the Section 16 Executive Leadership Team (“ELT”) members, twelve months base salary and health care allowance continuation; |
| • | For the non-Section 16 ELT members and Senior Vice Presidents, nine months base salary and health care allowance continuation; |
| • | For Vice Presidents, six months base salary and health care allowance continuation; |
| • | For Directors, three months base salary and health care allowance continuation in the event of a termination without Cause and no severance benefits in the event of a resignation for Good Reason; and |
| • | For Senior Managers and below, two months base salary and health care allowance continuation in the event of a termination without Cause and no severance benefits in the event of a resignation for Good Reason. |
Under the Program, upon a qualifying termination without Cause or resignation for Good Reason occurring within twelve months following a Change in Control (or, for the Company’s Chief Executive Officer and Section 16 officers, within three months prior to and twelve months following a Change in control), eligible employees are entitled to receive:
| • | For the CEO, eighteen months base salary and health care allowance continuation, 100% of target bonus for the year of termination and a prorated target bonus for the year of termination; |
| • | For the Section 16 ELT members, twelve months base salary and health care allowance continuation, 100% of target bonus for the year of termination and a prorated target bonus for the year of termination; |
| • | For the non-Section 16 ELT members and Senior Vice Presidents, twelve months base salary and health care allowance continuation and 100% of target bonus for the year of termination; |
| • | For Vice Presidents, nine months base salary and health care allowance continuation and 100% of target bonus for the year of termination; |
| • | For Directors, six months base salary and health care allowance continuation; and |
| • | For Senior Managers and below, three months base salary and health care allowance continuation. |
Severance benefits under the Program are contingent on the eligible employee’s execution and non-revocation of a release of claims in favor of the Company. The Program supersedes prior severance arrangements for eligible employees, except that the Board or senior management may approve individual arrangements providing for different levels of severance benefits, which would supersede the Program for the applicable individual.
The foregoing description of the Program is only a summary and is qualified in its entirety by reference to the full text of the Program, a copy of which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2026.
