Company: CSCIF
Filing Date: 2025-04-09
Form Type: 20-F
Source: 0001641172-25-003456
Chunk: 100

Company: COSCIENS Biopharma Inc.
Filing Date: 2025-04-09
Form: 20-F
Item: Item 6
Chunk 100
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 from time to time.

  69  

In 2022, the NGCC retained a compensation consultant
to benchmark our director compensation plan in an effort to determine whether we were achieving our objective of providing market competitive
compensation opportunities. The compensation consultant gathered compensation data from companies that it concluded were of comparable
size and/or stage of development as us and from other companies with which we compete. Based, in part, on the recommendations of the
compensation consultant, the NGCC recommended, and the Board approved, certain changes to the board member retainer and committee chair
compensation.

Risk Assessment of Executive Compensation Program

The Board, through the NGCC, oversees the implementation
of compensation methods that tie a portion of executive compensation to our short-term and long-term performance and that of each executive
officer and that take into account the advantages and risks associated with such compensation methods. In addition, the Board oversees
the creation of compensation policies that are intended to reward the creation of shareholder value while reflecting a balance between
our short-term and long-term performance and that of each executive officer. The NGCC has considered in general terms the concept of
risk as it relates to our executive compensation program.

Base salaries are fixed in amount to provide a steady
income to the executive officers regardless of share price and thus do not encourage or reward risk-taking to the detriment of other
important business, operational, commercial or clinical metrics or milestones. The variable compensation elements (annual bonuses and
equity-based awards) are designed to reward each of short-term, mid-term and long-term performance. For short-term performance, a discretionary
annual bonus may be awarded based on the timing and level of attainment of specific operational and corporate goals that the NGCC believes
to be challenging yet does not encourage unnecessary or excessive risk-taking. While our bonus payments are generally based on annual
performance, a maximum bonus payment is pre-fixed for each senior executive officer and represents only a portion of each individual’s
overall total compensation opportunities. In exceptional circumstances, a particular executive officer may be awarded a bonus that exceeds
his or her maximum pre-fixed or target bonus amount. Finally, a significant portion of executive compensation is provided in the form
of equity-based awards, which is intended to further align the interests of executives with those of shareholders. The NGCC believes
that these awards do not encourage unnecessary or excessive risk-taking since the ultimate value of the awards is tied to our share price,
and in the case of grants under the long-term incentive compensation plan, are