Company: GANX
Filing Date: 2025-04-17
Form Type: PRE 14A
Source: 0001558370-25-004958
Chunk: 48

Company: Gain Therapeutics, Inc.
Filing Date: 2025-04-17
Form: PRE 14A
Chunk 48
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uant to his employment agreement, Mr. Ballantyne was entitled to receive an annual base salary of $350,000 and eligible to receive, as determined by the Board in its sole discretion, an annual incentive cash bonus which the Board initially set at a target of 40% of his annual base salary.

Also pursuant to Mr. Ballantyne’s employment agreement, as a material inducement to Mr. Ballantyne to enter into employment with us, the Board also approved the grant to Mr. Ballantyne of the following inducement equity awards granted pursuant to the Inducement Plan, on the date of commencement of Mr. Ballantyne’s employment: (i) an option award to purchase up to 100,000 shares of our common stock at an exercise price per share equal to fair market value on the date of grant (the “Inducement Option”), vesting over a four year period from the CFO Transition, with 25% vesting on the first anniversary thereof and the balance vesting in equal monthly installments over the remainder of the vesting period, in each case subject to Mr. Ballantyne’s continuous employment with us through the applicable vesting date, and (ii) 100,000 restricted stock units (the “Inducement RSUs”) vesting, subject to Mr. Ballantyne’s continuous employment with the Company through the applicable vesting date, upon the Board’s certification that one or both of the following performance conditions have been achieved: (a) 50,000 Inducement RSUs vesting in connection with the closing of a transaction extending the cash runway by twenty-four (24) months, and/or (b) 50,000 Inducement RSUs vesting in connection with our stock price reaching a price of $10.00 per share based on the 10 day volume weighted average share price.

Mr. Ballantyne’s service as our Chief Financial Officer ended effective March 1, 2024.

**Potential Payments Upon Termination or Change in Control**

Our named executive officers are entitled to certain severance benefits upon certain qualified terminations of employment and upon certain qualified changes in control of the Company, each as summarized below.

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#### Gene MackIn the event of termination of Mr. Mack’s employment by the Company without “Cause”, by Mr. Mack for “Good Reason” or Mr. Mack’s employment terminates upon his death or “Disability” (as each such capitalized term is defined in the Amendment), in all cases