The company said Jeff Sharritts, former Executive Vice President and Chief Customer and Partner Officer, entered into a Separation Agreement and General Release on July 15, 2024. The agreement relates to the end of his employment as an executive advisor, and his termination was effective on July 15, 2024.

1. 01

   The company said Jeff Sharritts, former Executive Vice President and Chief Customer and Partner Officer, entered into a Separation Agreement and General Release on July 15, 2024. The agreement relates to the end of his employment as an executive advisor, and his termination was effective on July 15, 2024.

2. 02

   The company said that under the Separation Agreement, Sharritts's time-based restricted stock unit awards scheduled to vest through December 10, 2025 will vest on an accelerated basis, and some of his performance-based restricted stock units will be treated as eligible for retirement vesting.

3. 03

   The company said Sharritts is entitled to a cash payment of $2,585,710.91. It said the amount equals 18 months of his annual base salary, his annual target bonus, and 17 months of COBRA premiums.

4. 04

   The company said that in exchange for these benefits, Sharritts signed a release of claims related to his employment and agreed to comply with the terms of the Separation Agreement, Cisco's Code of Business Conduct and related policies, and the Proprietary Information and Inventions Agreement.

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