Company: CRVO
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001437749-25-013543
Chunk: 110

Company: CervoMed Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 110
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 consideration other than cash shall be valued at the fair value thereof as determined in good faith by the Board. For the avoidance of doubt, if the per share exercise price of an Option or portion thereof is equal to or greater than the Fair Market Value of one share of Common Stock, such Option may be cancelled with no payment due hereunder or otherwise in respect thereof. Where a Corporate Transaction involves a tender offer that is reasonably expected to be followed by a merger (as determined by the Board or the Committee), the Corporate Transaction will be deemed to have occurred upon consummation of the tender offer.

With respect to outstanding Incentive Awards other than Options, the Board or the Committee or the Successor Board, shall make appropriate provision for the continuation of such Incentive Awards on the same terms and conditions by substituting on an equitable basis for the shares then subject to such Incentive Awards either the consideration payable with respect to the outstanding shares of Common Stock in connection with the Corporate Transaction or securities of any successor or acquiring entity. In lieu of the foregoing, in connection with any Corporate Transaction, the Board or the Committee may provide that, each outstanding Incentive Award shall be terminated in exchange for payment of an amount equal to the consideration payable upon consummation of such Corporate Transaction to a holder of the number of shares of Common Stock comprising such Incentive Award (to the extent such Incentive Award no longer subject to any forfeiture or repurchase rights then in effect or, at the discretion of the Board or the Committee, all forfeiture and repurchase rights being waived). For purposes of determining such payments, in the case of a Corporate Transaction the consideration for which, in whole or in part, is other than cash, the consideration other than cash shall be valued at the fair value thereof as determined in good faith by the Board. For the avoidance of doubt, if the purchase or base price of an Incentive Award or portion thereof is equal to or greater than the Fair Market Value of one share of Common Stock, such Incentive Award may be cancelled with no payment due hereunder or otherwise in respect thereof.

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In taking any of the actions permitted under this Section 15.2, the Board or the Committee shall not be obligated by the Plan to treat all Incentive Awards held by a Participant, or all Incentive Awards of the same type, identically.

15.3 Limitation on Change in Control Payments. Notwithstanding anything in Section 15.2