Company: CSCIF
Filing Date: 2025-04-09
Form Type: 20-F
Source: 0001641172-25-003456
Chunk: 97

Company: COSCIENS Biopharma Inc.
Filing Date: 2025-04-09
Form: 20-F
Item: Item 6
Chunk 97
---
 2022, is serving as                                                                
  Senior Vice President, Chief Financial Officer of COSCIENS Biopharma Inc. (formerly Aeterna Zentaris Inc.); and                   
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Gilles Gagnon, who, since 2008, is serving as President and Chief Executive                                                       
  Mitch Reigner, who serves as Chief Technology Officer; Dr. Matthias                                                               

Compensation Discussion & Analysis

Compensation Philosophy and Objectives

Our Board, through the NGCC, establishes our executive
compensation program that is market-based and at a competitive percentile grouping for both total cash and total direct compensation.
The NGCC has established a compensation program that is designed to attract, motivate and retain high-performing senior executives, encourage
and reward superior performance and align the executives’ interests with those of our shareholders by:

  providing the opportunity for an executive to earn compensation that                                                               
  providing the opportunity for executives to participate in equity-based                                                            
  aligning executive compensation with our corporate objectives; and                                                                 
  attracting and retaining highly qualified individuals in key positions.                                                            

Compensation
Elements

Our executive compensation is targeted at the 50th
percentile for small cap biopharmaceutical companies within both the local and national markets and is comprised of both fixed and variable
components. The variable components include equity and non-equity incentive plans. Each compensation component is intended to serve a
different function, but all elements are intended to work in concert to maximize both corporate and individual performance by establishing
specific, competitive operational and corporate goals and by providing financial incentives to employees based on their level of attainment
of these goals.

Our current executive compensation program is comprised
of the following four basic components: (i) base salary; (ii) an annual bonus linked to both individual and corporate performance; (iii)
equity incentives, including stock options, previously granted under our second amended and restated stock option plan adopted by the
Board on March 29, 2016 and ratified by the shareholders of Aeterna Zentaris on May 10, 2016 (the “ Stock Option Plan”),
and presently granted under the Corporation’s long-term incentive plan adopted by the Board on March 27, 2018 and ratified by the
shareholders of Aeterna Zentaris on May 8, 2018 (the “Long-Term Incentive Plan”), established for the benefit of