Company: GANX
Filing Date: 2025-04-17
Form Type: PRE 14A
Source: 0001558370-25-004958
Chunk: 47

Company: Gain Therapeutics, Inc.
Filing Date: 2025-04-17
Form: PRE 14A
Chunk 47
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 that Mr. Alder would have been eligible for equity incentive grants as determined by the Board in its sole discretion from time to time, and his existing equity awards will continue to vest in accordance with their terms.

Separation Agreement

Mr. Alder’s service as our Chief Executive Officer ended effective June 25, 2024 and we entered into separation and general release agreement with Mr. Alder on June 27, 2024 (the “Separation Agreement”). Pursuant to the Separation Agreement, subject to Mr. Alder’s compliance with its terms Mr. Alder would (i) receive the amount of $525,000, which was equal to twelve (12) months of his base salary in effect immediately prior to the separation date, (ii) receive payment of Mr. Alder’s COBRA premiums for COBRA coverage for a period of twelve (12) months following the separation date (the “Severance Period”) if he timely elected COBRA coverage, (iii) be provided all of his outstanding, unvested equity awards vested to the extent that such awards would have vested over the twelve (12) month period following the separation date if he had remained continuously employed by the Company, (iv) be provided 180 days after the separation date to exercise vested options; and (v) during the Severance Period, we would continue to pay the amount of any life insurance and long-term disability insurance premiums that we were paying on the behalf of Mr. Alder prior to the separation date.

On September 18, 2024, Mr. Alder filed suit against us in the Circuit Court of Maryland for Montgomery County (the “Litigation”). On October 10, 2024, Mr. Alder amended the complaint in the Litigation to add Jeffrey Riley, a member of our Board, and Khalid Islam, Chairman of the Board, as defendants. In his suit, Mr. Alder alleges, among other things, that we breached the Separation Agreement and employment agreement with Mr. Alder by failing to pay certain severance amounts as well as violated non-disparagement obligations to Mr. Alder. We engaged in a mediation session on March 31, 2025, and we are currently negotiating a settlement agreement with Mr. Alder.

#### C. Evan Ballantyne
We entered into an employment agreement with Mr. Ballantyne effective as of April 10, 2023, in connection with his appointment as our Chief Financial Officer. Purs