Company: DARE
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001401914-25-000014
Chunk: 37

Company: Dare Bioscience, Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 37
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 Aon prepared for the Compensation Committee regarding our employee compensation framework, trends in compensation matters in the life sciences and medical device industries, macro economic trends, and our employee compensation philosophy, and after taking into account our cash resources, the Compensation Committee determined to recommend to our Board that the total amount of the base salaries of all our employees be increased by an amount equal to 6% of the total amount of the base salaries of all our employees in 2024. Our Board, after taking into account such recommendation, approved such an increase and requested management provide a recommendation

2025 Proxy Statement | Page 25

to the Board as to the allocation of such aggregate amount among the Company’s employees. In February 2025, our Board and Compensation Committee met to consider management’s recommendation. As part of management's recommendation, Ms. Johnson recommended that her percentage increase be less than the percentage increase for Company employees below the vice president level to allow a greater amount of the total pool of funds to be allocated to employees below the vice president level. After careful review, our Board determined, consistent with the recommendation of our Compensation Committee, to increase Ms. Johnson's and Ms. Haring-Layton's 2025 base salaries by 4.79% and 7%, respectively, from their 2024 base salaries.

Employment Agreements and Termination of Employment & Change in Control Arrangements

We have a written employment agreement with Ms. Johnson pursuant to which she is eligible to receive an annual base salary, which may be adjusted at the discretion of our Board, has the right to participate in any bonus plan or other incentive plans that we may develop or implement, and is entitled to (1) participate in all equity, pension, savings and retirement plans, welfare and insurance plans, practices, policies, programs and perquisites of employment applicable generally to our senior executives, (2) receive reimbursement for reasonably incurred business expenses and (3) receive paid vacation and holiday time in accordance with policies generally applicable to our senior executives.

Subject to earlier termination, including in the event of death, our employment agreement with Ms. Johnson provides for a two-year term (which lapsed in August 2019) that automatically renews for successive one-year terms unless either party provides notice of intent not to renew at least 60 days prior to the applicable expiration date. Ms. Johnson may terminate her employment for good reason after giving us 14 days to correct or “cure” the circumstances giving rise to a termination for good reason, or for any