Company: CRVO
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001437749-25-013543
Chunk: 71

Company: CervoMed Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 71
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 such options being made partially or fully exercisable for purposes of this clause) less the aggregate exercise price thereof. With respect to outstanding incentive awards other than options, the Board or the Compensation Committee or the Successor Board, shall make appropriate provision for the continuation of such incentive awards on the same terms and conditions by substituting on an equitable basis for the shares then subject to such incentive awards either the consideration payable with respect to the outstanding shares of Common Stock in connection with the Corporate Transaction or securities of any successor or acquiring entity. In lieu of the foregoing, in connection with any Corporate Transaction, the Board or the Compensation Committee may provide that, each outstanding incentive award shall be terminated in exchange for payment of an amount equal to the consideration payable upon consummation of such Corporate Transaction to a holder of the number of shares of Common Stock comprising such incentive award.

Notwithstanding the foregoing, however, no incentive award that provides for a deferral of compensation within the meaning of Section 409A of the Code will be cashed out upon the occurrence of a change in control unless payment was specified in the incentive award agreement at the time of grant and the event or circumstances constituting the change in control also constitute a “change in the ownership” of our Company, a “change in the effective control” of our Company or a “change in the ownership of a substantial portion of the assets” of our Company, in each case as determined under Section 409A of the Code. In taking any of the actions described above, the Board or the Compensation Committee will not be obligated by the 2025 Plan to treat all incentive awards held by a participant, or all incentive awards of the same type, identically.

Effect of Termination of Employment or Other Services. If a participant ceases to be employed by, or perform other services for, us, all incentive awards held by the participant will be treated as set forth below unless provided otherwise in the agreement evidencing the incentive award or modified by the committee in its discretion as set forth below. Upon termination due to death, disability or retirement, all outstanding, exercisable options and stock appreciation rights then held by the participant will remain exercisable for a period of one year thereafter (but in no event after the expiration date of any such option or stock appreciation rights), all unvested restricted stock awards, all outstanding stock unit awards or RSUs, performance awards or units and stock bonuses then held by the participant will be terminated and forfeited; provided, however, that with respect to any such incentive awards the vest