Company: INGN
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0000950170-25-045737
Chunk: 78

Company: Inogen Inc
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 78
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zer who left the Company during 2024. On April 11, 2024, we mutually determined with Dr. Glezer that he would separate from the Company on May 3, 2024. We executed a severance agreement and release (the “Severance Agreement”) with Dr. Glezer, effective as of May 10, 2024. The Severance Agreement provides that subject to Dr. Glezer executing the Severance Agreement and not revoking it during the revocation period and his fulfillment of all of the terms and conditions of the Severance Agreement, the Company will (a) continue to pay his base salary of $505,000 for a period of 12 months and (b) reimburse him for the premium payments he makes for COBRA coverage in an amount equal to the Company-paid portion for such benefits as of immediately before the date his employment terminates for a period of up to 12 months or taxable monthly payments for the equivalent period in the event the Company determines that the COBRA subsidy could violate applicable law. Under the Severance Agreement, Dr. Glezer agreed that the consideration received represents settlement of all outstanding obligations owed to him, including any severance obligations under his employment agreement, and agreed to release the Company from all claims arising through the date of execution of the Severance Agreement, except for obligations under the Severance Agreement or claims that cannot be released as a matter of law.

Other Compensation

We occasionally provide a new executive a sign-on bonus to attract them to our Company, especially in light of the compensation opportunities that the executive is forfeiting from a prior employer. We agreed to provide each of Mr. Bourque and Mr. K.P. Smith a cash sign-on bonus in the amount of $100,000, subject to each individual’s continued employment with us for two years.

Employment Agreements

In filling each of our executive officer positions, our Board and the Compensation Committee at the time of the executive officer’s appointment recognized the need to develop competitive compensation packages to attract qualified candidates in a dynamic labor market. Our Board and the Compensation Committee at the time of appointment were sensitive to the need to integrate new executive officers into the executive compensation structure that we were seeking to develop, balancing both competitive and internal equity considerations.

On November 10, 2023, we entered into an employment and severance agreement with Mr. K.R.M. Smith, our President and Chief Executive officer. Mr. Smith’s employment under the employment agreement is at will and may be terminated at