Document

鑑於 2024 年 10 月 24 日，高管通知了公司及其董事會（”板”) 該高管打算 (a) 從其公司總裁兼首席執行官的職位上退休，最早在 (i) 高管繼任首席執行官的聘用開始之日起生效 (”首席執行官過渡”），（ii）公司下次年度股東大會的日期（”年度會議”），以及（iii）2025年5月31日（最早出現在（i）、（ii）和（iii）中，”首席執行官過渡日期”) 和 (b) 不在年會上競選連任董事會成員，在年會結束之前一直擔任董事會主席；

鑑於，高管與公司希望簽訂本協議，明確規定高管將按照以下條款和條件繼續擔任公司總裁兼首席執行官，直至CEO過渡日期；如果CEO過渡日期早於僱傭分離日期，高管將繼續在CEO過渡日期至僱傭分離日期之間作爲非執行高級顧問繼續受僱於公司；繼續擔任董事會主席直至年度股東大會結束；並在僱傭分離日期後直到2025年12月31日爲公司提供諮詢顧問服務。

(a) 公司將繼續僱傭高管，並高管將繼續擔任公司總裁兼首席執行官直至CEO過渡日期，如果CEO過渡日期早於就業分離日期，公司將繼續僱傭高管，並高管將繼續擔任公司資深顧問的非高管角色，從CEO過渡日期至就業分離日期，除非高管的僱傭因公司因故（按照公司的高管離職薪酬計劃中定義的方式）或高管本人而提前終止；但是前提是高管誠信同意不因沒有合理理由（按照公司的高管離職薪酬計劃中定義的方式）而辭職。從本協議簽署日期至就業分離日期，高管繼續受僱於公司的期間在此稱爲“「僱傭期限」是指自2024年6月13日開始，到2026年6月13日結束的期限，根據下述規定可以延長或終止。”.

(c) 在僱傭期間，高管 (i) 將繼續獲得在本協議簽署之日前生效的高管年度基本工資，(ii) 將有資格獲得公司2025年年度激勵計劃下的獎金，該獎金將取決於公司2025年年度激勵計劃中規定的適用績效目標的實現情況，此類獎金（如果有）將根據僱用期的部分按比例分配在 2025 財年期間（即從 2024 年 12 月 29 日到離職）日期），並在公司向其高級管理人員支付2025年年度獎金時以現金支付給高管，但不遲於2026年3月15日，（iii）將不會獲得任何新的股權獎勵，（iv）仍有資格獲得高管在本協議簽訂之日前夕獲得的與高管基本相似的員工福利和津貼，包括醫療、牙科和視力保險（包括梅奧診所的年度高管體格檢查）公司的行政延期計劃和利潤分享以及401（k）計劃（包括相應的公司繳款）、人壽保險以及短期和長期傷殘保險，以及不超過20,000美元的年度財務諮詢補助金，（v）將報銷高管爲加入全國公司董事協會而繳納的個人會費和其他相關費用（”NACD 會費”），以及（vi）在公司收到發票的30天內，公司將直接向該律師事務所支付最高68,000美元的此類律師費，該發票上包含Executive聘請的代表她的退休事務的律師事務所的經過全面編輯的敘述，包括對本協議和本協議所設想的交易進行法律審查。

(d) 所有根據公司2020年股權激勵計劃（經修訂）授予高管的未解除限制限制性股票單位，將按照管理如下的績效調整限制性股票單位授予協議第2.2(c)(iii)款待處理：帶授權的績效調整限制性股票單位，該等單位的處理方式規定爲高管在年滿60週歲且在公司工作滿五年時退休；但公司特此放棄適用於高管在實際退休日期前一年向公司提供書面退休意向通知的要求（爲免疑義，2024年授予的績效調整限制性股票單位的PSU授予協議中規定的三個月通知期間應根據該PSU授予協議和本協議的條款和條件予以滿足）；此外，在生效日期後，股權計劃和PSU授予協議中規定的適用變更控制規定將繼續有效（即使這些規定的適用結果相對於本1.d.條具有更好的高管待遇，將根據授獎基礎確定）。股權計劃將根據完全不設限制限制性股票單位（PSU）授予協議管理這些績效調整限制性股票單位的執行的全部卓越表現調整後的限制性股權單位。PSU獎勵協議將按照PSU獎勵協議中第2.2(c)(iii)款規定處理此類績效調整限制性股票單位，該款規定針對高管在年滿60週歲且在公司服務滿五年時退休的情形；但是，公司特此放棄了對高管在實際退休日期前一年向公司提供書面退休意向通知這一要求（爲避免疑義，2024年授予的績效調整限制性股票單位應在PSU獎勵協議和本協議的條款和條件下得到滿足）；而適用的股權計劃和PSU獎勵協議中規定的變更控制規定將在生效日期後繼續有效（並在應用這些規定會導致對高管相對於本第1.d.款獲得更好待遇的情況下生效，根據授獎一項一項來確定）。

(e) 所有優先授與執行長的限制性股票單位將於就業分離日期完全實現，並將按照管理該等RSU的限制性股票單位獎勵協議的條款進行處理；惟RSU相關股份應在就業分離日期後盡快發行，進一步提供，即使生效日期後，股份發行計劃及RSU獎勵協議中規定的適用變更控制條款將繼續有效（並且即使該條款的應用對執行長相對於本第1條(e)一節的待遇更有利，仍適用，如在限制性股票單位限制性股票單位獎勵協議RSU獎勵協議」；提供股份

(f) 根據 (i) 股票計劃或精選康福利公司修訂及重訂的 2010 年綜合獎勵計劃 (如修訂)，所有根據 (i) 股票計劃授予行政人員的未償還股票期權（」二零一零年股票計劃」) 根據適用的情況下，將按照該等股票期權的非法定股票期權協議（在其範圍內）第 3.2 (c) 條進行處理，而 (ii) 2010 年股票計劃將根據管理該等股票期權的非法定股票期權授予協議 (a) 段（在其中的範圍內）處理（統稱為」股票期權獎勵協議」)，規定如行政人員在 60 歲或以上退休，並在本公司服務五年或以上時，就該等股票期權作出處理，而行政人員可於 2025 年 12 月 31 日後的三年期內行使該等股權（但不超過適用股票期權的到期日）；但是，公司特此豁免執行行政人員在行政人員實際一年前提供書面通知退休日期；另外，只要股票計劃或 2010 年股票計劃（如適用）所載的控制條文的適用變動，以及股票期權獎勵協議即使在生效日期後仍然未償還 (並適用於應用該等條款導致執行人對於本第 1.f 條的更好待遇，按每次獎勵方式決定)。為避免任何疑問，所有授予行政人員的股票期權將於離職日完全授予。

2. 諮詢過渡服務. 妥善辦理若執行官在雇傭分離日期之前仍然在公司工作，自雇傭分離日期的次日開始，並持續至2025年12月31日（此期間稱為「諮詢期」），執行官的雇傭將於雇傭分離日期結束，並且執行官將作為公司的戰略顧問，根據公司的首席執行官或董事會合理的要求，提供諮詢服務，以協助領導權過渡及公司的運營（「服務」）。作為諮詢期內執行官服務的全額報酬，公司同意(i) 在諮詢期內，每月支付執行官150,000美元的現金諮詢費（對於任何服務的部分月份將按比例計算），該費用將按月支付，並在每個月結束後30天內由公司支付，以及(ii) 在諮詢期內報銷執行官的NACD會費。作為戰略顧問，執行官同意她將以獨立承包商的身份執行服務，而不是公司的員工。本協議中的任何內容不得以任何方式解釋為在雇傭分離日期之後執行官是公司的代理、員工或代表。因此，作為戰略顧問，執行官將不適用於任何公司贊助的員工福利計畫，或其他員工補償或福利政策或計畫，與諮詢期內所執行的任何服務相關。執行官同意，作為戰略顧問，承擔與其在諮詢期內執行服務相關的所有稅款。公司同意將向執行官提供IRS 1099表格，作為執行官為執行服務所獲得的支付報告。執行官同意對公司不受任何索賠或負債的影響（包括罰金），該索賠或負債是由於執行官未就公司向執行官支付的補償支付稅款或未能報告公司向執行官支付的補償以及/或提交相關的稅務表格，其中公司向執行官支付的補償必須向相關的政府機構報告（包括，僅就本句而言，協議第1(c)條第(vi)項所列的金額）。在諮詢期內，執行官

will control the performance of the Services and will furnish all tools and materials necessary to the performance of the Services. Notwithstanding the foregoing, the Company will reimburse Executive for certain reasonable expenses in accordance with the Company’s reimbursement policies applicable to independent contractors. Executive acknowledges that she will remain subject to the Company’s Insider Trading Policy in accordance with its terms, including during the Consulting Period. Executive further agrees: (i) that all right, title, and interest in and to any notes, records, designs, inventions, improvements, developments, discoveries, copyrightable material, ideas, and/or trade secrets conceived, discovered, authored, invented, developed, or reduced to practice by Executive, solely or in collaboration with others, arising out of, or in connection with, performing the Services and/or in the scope of her prior employment and any copyrights, patents, trade secrets, mask work rights or other intellectual property rights relating to the foregoing (collectively, “Inventions”) are the sole property of the Company; (ii) to promptly disclose to Company in writing any Inventions; (iii) and that Executive hereby irrevocably assigns and agrees to assign (or cause to be assigned) all Inventions to Company. During the Consulting Period and thereafter, Executive agrees that the terms relating to the protection of Confidential Information as set forth in Executive’s Employee Inventions, Confidentiality and Non-Compete Agreement shall continue to apply.

3. Release of Claims. Executive hereby agrees to execute the release of claims in the form attached to this Agreement as Exhibit A (the “Release”) no earlier than the close of business on the Employment Separation Date (or such other date agreed to by the Company and Executive). Executive’s eligibility to receive the consideration set forth in Sections 1(d), 1(e), 1(f) and 2 of this Agreement is subject to, and contingent upon, Executive executing the Release no earlier than the close of business on the Employment Separation Date (or such other date agreed to by the Company and Executive), and not rescinding the Release.

4. No Good Reason. Executive acknowledges and agrees that Executive’s termination of employment, including her transition from President and Chief Executive Officer to strategic consultant and, if applicable, from President and Chief Executive Officer to a non-executive employment position from the CEO Transition Date to the Employment Separation Date, does not constitute “Good Reason” as defined in the Company’s Executive Severance Pay Plan or any other agreement or policy governing Executive’s employment relationship with the Company. Notwithstanding the foregoing, in the event of a Change in Control (as defined in the Company’s Executive Severance Pay Plan) that occurs prior to the Employment Separation Date, Executive shall remain eligible for the severance compensation and benefits as set forth in the Company’s Executive Severance Pay Plan as a “Tier I” executive.

5. Governing Law; Venue. All issues and questions concerning the application, construction, validity, interpretation and enforcement of this Agreement will be governed by and construed in accordance with the laws of the State of Minnesota, without giving effect to any principles of conflicts of law, whether of the State of Minnesota or any other jurisdiction. Each of the Parties agrees that any legal action or proceeding with respect to this Agreement will be brought exclusively in the state court of Minnesota located in Hennepin County, or the federal courts of the United States of America for the District of Minnesota, unless the Parties to any such action or dispute mutually agree to waive this provision. By execution and delivery of this Agreement, each of the Parties irrevocably consents to service of process out of any of the aforementioned courts in any such action or proceeding by the mailing of copies thereof by registered or certified mail, postage prepaid, or by recognized express carrier or delivery service, to the applicable Party at their address referred to herein. Each of the Parties irrevocably waives any objection which they may now or hereafter have to the laying of venue of any of the aforementioned actions or proceedings arising out of or in connection with this Agreement, or any related agreement, certificate or instrument referred to above, brought in the courts referred to above and hereby

7. Entire Agreement. The terms of this Agreement and the terms of the PSU Award Agreements, the RSU Award Agreements, and the Stock Option Award Agreements, as such agreements are modified by the terms of this Agreement, and the Employee Inventions, Confidentiality and Non-Compete Agreement that Executive signed as a condition of employment and that accompanies such aforementioned award agreements are intended by the Parties hereto to be the final expression of their agreement with respect to Executive’s employment and post-employment transition services, and may not be contradicted by evidence of any prior or contemporaneous agreement. The Parties further intend that this Agreement will constitute the complete and exclusive statement of its terms and that no extrinsic evidence whatsoever may be introduced in any judicial, administrative, or other legal proceeding to vary the terms of this Agreement.

8. Amendments; Waivers. This Agreement may not be modified, amended, or terminated except by an instrument in writing, signed by Executive and a duly authorized officer of the Company and approved by the Board, which expressly identifies the amended provision of this Agreement. By an instrument in writing similarly executed and approved by the Board, Executive or a duly authorized officer of the Company may waive compliance by the other Party hereto with any provision of this Agreement that such other Party was or is obligated to comply with or perform; provided, however, that such waiver will not operate as a waiver of, or estoppel with respect to, any other or subsequent failure to comply or perform. No failure to exercise and no delay in exercising any right, remedy, or power hereunder will preclude any other or further exercise of any other right, remedy, or power provided herein or by law or in equity.

9. Construction. This Agreement will be deemed drafted equally by both of the Parties hereto. Its language will be construed as a whole and according to its fair meaning. Any presumption or principle that the language is to be construed against any Party hereto will not apply. The headings in this Agreement are only for convenience and are not intended to affect construction or interpretation.

10. Enforcement. If any provision of this Agreement is held to be illegal, invalid or unenforceable under present or future laws effective during the term of this Agreement, such provision will be fully severable; this Agreement will be construed and enforced as if such illegal, invalid or unenforceable provision had never comprised a portion of this Agreement; and the remaining provisions of this Agreement will remain in full force and effect and will not be affected by the illegal, invalid or unenforceable provision or by its severance from this Agreement. Furthermore, in lieu of such illegal, invalid or unenforceable provision there will be added automatically as part of this Agreement a provision as similar in terms to such illegal, invalid or unenforceable provision as may be possible and be legal, valid and enforceable.

this Agreement will be interpreted in accordance with, and incorporate the terms and conditions required by, Section 409A. The Company and Executive will work together in good faith to consider either (a) amendments to this Agreement or (b) revisions to this Agreement with respect to the payment of any awards, which are necessary or appropriate to avoid imposition of any additional tax or income recognition prior to the actual payment to Executive under Section 409A.


SLEEP NUMBER CORPORATION By: /s/ Samuel R. Hellfeld Name: Samuel R. Hellfeld Title: Chief Legal and Risk Officer			EXECUTIVE By: /s/ Shelly R. Ibach Name: Shelly R. Ibach Title: Chair, President and Chief Executive Officer