Company: ZURA
Filing Date: 2025-09-30
Form Type: 8-K
Source: 0001104659-25-095024
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Company: Zura Bio Ltd
Filing Date: 2025-09-30
Form: 8-K
Item: Item 5.02
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Item 5.02 Departure of Directors or Certain
Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On September 24, 2025, the
Board of Directors of (the “ Board”) of Zura Bio Limited (the “ Company”) adopted an Executive Severance Benefit
Plan (the “ Severance Plan”) pursuant to which certain employees, including the Company’s current named executive officers,
are eligible to participate. Pursuant to the Severance Plan, if an Eligible Employee’s (as defined in the Severance Plan) employment
terminates (a) without Cause (as defined in the Severance Plan) and other than as a result of death or Disability (as defined in the Severance
Plan) or (b) due to resignation for Good Reason (as defined in the Severance Plan), in either case, at least 91 days following the commencement
of such Eligible Employee’s employment with the Company, then, subject to execution of a separation agreement containing a customary
general waiver and release of all claims in favor of the Company and its Affiliates (as defined in the Severance Plan) and certain other
conditions set forth in the Severance Plan, such Eligible Employee is entitled to a lump sum payment equal to (x) 12 months of such Eligible
Employee’s base salary, in the case of the Company’s Chief Executive Officer (the “ Chief Executive Officer”),
or (y) nine months of such Eligible Employee’s base salary, in the case of the Company’s other named executive officers and
certain other executives. If an Eligible Employee’s employment terminates within the time period beginning on the date of the closing
of a Change in Control (as defined in the Severance Plan) and ending 12 months following the closing of the Change in Control (a) without
Cause and other than as a result of death or Disability or (b) due to resignation for Good Reason, in either case, at least 91 days following
the commencement of such Eligible Employee’s employment with the Company, then, subject to execution of a separation agreement containing
a customary general waiver and release of all claims in favor of the Company and its Affiliates and certain other conditions set forth
in the Severance Plan, such Eligible Employee is entitled to (i) a lump sum payment equal to (x) 18 months of such Eligible Employee’s
base salary, in the case of the