Company: CRVO
Filing Date: 2025-04-18
Form Type: 8-K
Source: 0001437749-25-012337
Chunk: 2

Company: CervoMed Inc.
Filing Date: 2025-04-18
Form: 8-K
Item: Item 1.01
Chunk 2
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), and confidentiality and non-disparagement provisions (each applicable during employment and at all times thereafter). Under the De Rosch Employment Agreement, in the event that his employment is terminated by the Company other than for “cause”, death or “disability” or upon the executive’s resignation for “good reason” (as such terms are defined in the De Rosch Employment Agreement), Dr. De Rosch will be entitled to any unpaid bonus earned in the year prior to the termination, a pro-rata portion of the bonus earned during the year of termination, continuation of base salary for 9 months, plus 12 months of COBRA premium reimbursement, provided that if such termination occurs within 60 days before or within 24 months following a “change of control” (as defined in the De Rosch Employment Agreement), then he will be entitled to receive the same severance benefits as described above, except that he will receive (a) a payment equal to 1.5 times the sum of his base salary and the higher of his target annual bonus opportunity and the bonus payment received for the year immediately preceding the year in which the termination occurred instead of 9 months of base salary continuation and (b) a payment equal to 18 times the monthly COBRA premium for his and his eligible dependents instead of 12 months of COBRA reimbursements (the payments in clauses (a) and (b) are paid in a lump-sum in some cases and in installments over 9 or 12 months in other cases). In addition, if Dr. De Rosch’s employment is terminated by the Company without cause or by Dr. De Rosch for good reason, in either case, upon or within 24 months following a change of control, then he will be entitled to full vesting of all equity awards received from us (with any equity awards that are subject to the satisfaction of performance goals deemed earned at not less than target performance, and with any equity award that is in the form of a stock option or stock appreciation right to remain outstanding and exercisable for 24 months following the termination date (but in no event beyond the expiration date of the applicable option or stock appreciation right)). The De Rosch Employment Agreement has an indefinite term.

Chief Operating Officer

On April 14, 2025, the Board approved the terms of a Separation Agreement (the “ Separation Agreement”), with Robert J. Cobuzzi, Jr., Ph. D., the Company’s Chief Operating Officer, pursuant to which Dr. Cob