EXECUTIVE SEVERANCE AND CHANGE OF CONTROL PLAN THIS EXECUTIVE SEVERANCE AND CHANGE OF CONTROL PLAN (this “Agreement”) is made and entered into as of October 11, 2011 (the “Effective Date”) by and between Mitek Systems, Inc., a Delaware corporation...Executive Severance and Change of Control Plan • October 13th, 2011 • Mitek Systems Inc • Computer peripheral equipment, nec • California
WHEREAS, the Board of Directors of the Company has determined that appropriate steps should be taken to incentivize Executive’s attention and dedication to his assigned duties and to provide Executive with enhanced financial security and sufficient encouragement to remain employed by the Company in order to maximize stockholder value presently and at any time in which the Company may consider a change of control or other strategic transaction for the benefit of the Company’s stockholders; and
