ACACIA RESEARCH CORPORATION AMENDED AND RESTATED EXECUTIVE SEVERANCE POLICY

Exhibit 10.26

ACACIA RESEARCH CORPORATION

AMENDED AND RESTATED

EXECUTIVE SEVERANCE POLICY

Full time employees with the title of Senior Vice President and higher of Acacia Research Corporation or any successor thereto (“Acacia”) shall receive the benefits set forth below. This Executive Severance Policy may not be amended or modified in a manner that adversely effects an employee who is a duly appointed Senior Vice President or higher executive officer of Acacia at the time of such proposed amendment or modification.

1. Severance Benefits .  If Acacia terminates the employment of an employee who is a Senior Vice President or higher (“Officer”) for other than Cause (as defined below) or other than on account of death or disability, Acacia shall (i) within thirty (30) days of such termination pay to the Officer a lump sum amount equal to the aggregate of   (a) Accrued Obligations (i.e., the Officer’s annual base salary through the date of termination to the extent not theretofore paid and any compensation previously deferred by the Officer (together with any accrued interest or earnings thereon) and any accrued vacation pay, and reimbursable expenses, in each case to the extent not theretofore paid) and (b) three (3) months of the Officer’s base salary for each full year that the Officer was employed by Acacia (the “Severance Period”), up to a maximum of twelve (12) months of the Officer's base salary and (ii) provide to the Officer, Acacia paid COBRA coverage for the medical and dental benefits selected by the Officer in the year in which the termination occurs, for the duration of the Severance Period.

2.  Definition of Cause .  For purposes of this Severance Policy, “Cause” shall mean that Acacia, acting in good faith based upon the information then known to Acacia, determines that the applicable employee has engaged in any act of fraud, embezzlement or dishonesty, any unauthorized use or disclosure by such employee of confidential information or trade secrets of Acacia (or any subsidiary), or any other intentional misconduct by such employee that adversely affects the business or affairs of Acacia (or any subsidiary) in a material manner, after reasonable written notice and reasonable time to cure such misconduct if such misconduct is subject to cure.

3.   Section 409A .  Notwithstanding anything herein to the contrary, to the extent any payments to Officer  pursuant to Section 1 are treated