Company: CRVO
Filing Date: 2025-04-18
Form Type: 8-K
Source: 0001437749-25-012337
Chunk: 3

Company: CervoMed Inc.
Filing Date: 2025-04-18
Form: 8-K
Item: Item 1.01
Chunk 3
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uzzi’s employment with the Company will conclude effective July 1, 2025. In addition, Dr. Cobuzzi will not stand for re-election to the Board and his current term will end at the Company’s 2025 Annual Meeting of Stockholders. In connection with his departure, the Company and Dr. Cobuzzi intend to enter the Separation Agreement, the form of which is attached hereto as Exhibit 10.3, which provides, among other things, that Dr. Cobuzzi shall be eligible to receive: (i) a lump-sum payment of $479,723, subject to lawful deductions, equal to twelve months gross base salary, (ii) a lump-sum payment of $119,602, subject to lawful deductions, equal to Dr. Cobuzzi’s pro-rated target annual bonus for the year ending December 31, 2025, and (iii) a lump-sum payment subject to lawful deductions, equal to the aggregate premium for 12 months of COBRA continuation coverage for Dr. Cobuzzi and his eligible dependents. Additionally, notwithstanding any terms of the Company’s 2015 Equity Incentive Plan, as amended, or any stock option award agreements to the contrary, all Company stock options previously granted to Dr. Cobuzzi will remain exercisable and continue to vest in accordance with their respective vesting schedules through September 30, 2026. The Separation Agreement also includes a standard release and waiver by Dr. Cobuzzi and other customary provisions.

The foregoing descriptions of each of the Blackburn Employment Agreement, the De Rosch Employment Agreement and the Separation Agreement do not purport to be complete and, in each case, are subject to and qualified in their entirety by the full terms thereof, which are filed as Exhibits 10.1, 10.2 and 10.3 hereto, respectively, and incorporated by reference herein.

  Item 1.02      Termination of a Material Definitive Agreement  

To the extent required by Item 1.02 of Form 8-K, the disclosures set forth in Item 1.01 above are incorporated herein by reference.

  Item 5.02      Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers  

To the extent required by Item 5.02 of Form 8-K, the disclosures set forth in Item 1.01 above are incorporated herein by reference.

  Item 9.01      Financial Statements and Exhibits  

(d