Company: GRCE
Filing Date: 2025-07-28
Form Type: DEF 14A
Source: 0001140361-25-027456
Chunk: 40

Company: Grace Therapeutics, Inc.
Filing Date: 2025-07-28
Form: DEF 14A
Chunk 40
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 Benefits and Perquisites Our executive employee benefit program also includes life, medical, dental and disability insurance. These benefits and perquisites are designed to be competitive overall with equivalent positions in comparable organizations. Employment Agreements with Named Executive Officers Prashant Kohli, Chief Executive Officer On August 12, 2024, we entered into an employment agreement with Mr. Kohli, (the “CEO Letter Agreement”). Pursuant to the CEO Letter Agreement, Mr. Kohli is entitled to receive an annual base salary of $500,000 and an annual discretionary bonus of up to 50% of his annual base salary as determined by our Board. In order to earn the bonus, Mr. Kohli must remain employed with the Company throughout the year for which the bonus is paid, and must be actively employed in good standing on the date in which the bonus is paid. In addition, the CEO Letter Agreement provides that, subject to approval by our Board, Mr. Kohli may be granted from time to time an option to purchase shares of common stock with a price per share equal to the fair market value of the common stock, as determined by our Board at the time of the grant, which will be conditioned upon (a) Mr. Kohli’s continued employment with the Company at the time of the grant, (b) entering into an option agreement with the Company and (c) any other terms and conditions set forth in the Company’s equity incentive plan, the applicable option agreement and as may be determined by our Board in its sole discretion at the time of grant. The term of the CEO Letter Agreement commenced on August 12, 2024 and continues until terminated in accordance therewith. Either the Company or Mr. Kohli may terminate the CEO Letter Agreement at any time, upon advanced written notice. The CEO Letter Agreement also imposes certain confidentiality, non-competition and non-solicitation obligations on Mr. Kohli during the term of the Letter CEO Agreement and for a specified time thereafter. The CEO Letter Agreement provides for standard Company benefits, such as paid vacation and participation in the Company’s employee benefit plans and programs. In the event that Mr. Kohli’s employment is terminated by the Company without Cause (as defined in the CEO Letter Agreement), including after a change of control, and subject to his delivery to the Company of a general release of claims in a form acceptable to the Company, the Company will pay Mr. Kohli a continuation of his base salary then in effect for twelve (12) months after termination.

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