Company: TVRD
Filing Date: 2025-05-30
Form Type: S-1
Source: 0001104659-25-054853
Chunk: 449

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-05-30
Form: S-1
Chunk 449
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 by reference to the certificates of amendment, copies of which were filed as Exhibit 3.1, Exhibit 3.2 and Exhibit 3.3, respectively, to the Current Report on Form 8-K filed by the Company on April 15, 2025.

Departure of Officers

On April 15, 2025, effective upon the closing of the Merger, the employment of each of the Company’s President and Chief Executive Officer, Chief Financial Officer, and General Counsel, Secretary and Chief Compliance Officer, respectively, was terminated. In connection with their termination of employment, each entered into side letters with the Company which provided for (i) in the case of the Chief Executive Officer, a lump sum payment equal to of his current base salary, a lump sum payment equal to one and a halftimes his 2025 target annual bonus and payment of applicable COBRA premiums for up to following termination, (ii) in the case of the Chief Financial Officer, a lump sum payment equal to of his current base salary, a lump sum payment equal to his 2025 target annual bonus and payment of applicable COBRA premiums for up to following termination, and (iii) in the case of the Chief Compliance Officer, a lump sum payment equal to of his current base salary, a lump sum payment equal to his 2025 target annual bonus and payment of applicable COBRA premiums for up to following termination. Each executed a release of claims in favor of the Company as a condition to receiving their respective severance benefits. As a result of the closing of the Merger on April 15, 2025, the Company paid approximately $ in aggregate for severance payments to all remaining employees of the Company that were terminated at closing, including the Chief Executive

F-101

<div align='center'>CARA THERAPEUTICS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(amounts in thousands, except share and per share data)</div>

Officer, Chief Financial Officer and Chief Compliance Officer above. The Combined Company expects to pay these tenformer Company employees approximately $ 300in aggregate for estimated COBRA premiums. The terms of the side letters are pursuant to, and consistent with, the terms of the Cara Therapeutics, Inc. Severance Plan and Form of Participation Agreement, which was filed as Exhibit 10.14 to the Annual Report on Form 10-K filed by the Company on March 1, 2022, and the Chief Executive Officer Employment Agreement