Company: MIRA
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001183
Chunk: 331

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 2
Chunk 331
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 reason. Under the agreement, Ms. Yanez will receive an
initial base salary of $0.17 million per year. In the event that her employment is terminated by our company without
“Cause” or is terminated by Ms. Yanez for “Good Reason”, Ms. Yanez will be entitled to severance
compensation in the form of salary continuation for a period of three months (subject to Ms. Yanez executing and delivering a
customary general release in favor of the company). “Cause” is defined in the agreement to include dishonesty,
misappropriation, willful misconduct, breach of the agreement, and other customary matters. “Good Reason” is defined to
include a material adverse change in Ms. Yanez’s compensation or duties and level of responsibility. The employment agreement
also contains customary confidentiality and invention-assignment covenants to which Ms. Yanez is subject.

On
August 17, 2023, Ms. Yanez received a $0.05 million cash bonus net of federal, state, local and income taxes related to the successful
completion of the IPO. On March 25, 2024, the Compensation Committee of the Board of Directors approved an increase in Ms. Yanez’s
base salary of $0.06 million, bringing her annual base salary to $0.23 million.

On
June 26, 2024, MIRA Pharmaceuticals, Inc. (the “Company”) entered into an Amended and Restated Employment Agreement (the
“Amended and Restated Employment Agreement”) that amends and restates the Employment Agreement, dated April 28, 2023, by
and among the Company and Michelle Yanez, the Company’s Chief Financial Officer. Pursuant to the Amended and Restated Employment
Agreement, Ms. Yanez will continue to serve as the Company’s Chief Financial Officer part-time at a reduced annual base salary
of $0.14 million.

73

Grants
of Plan-Based Awards in 2024

    Estimated
                                            Future Payouts
                                                                                Under
                                            Non-Equity Incentive
                                                                                Plan
                                            Awards  
    Estimated
                                            Future Payouts
                                                                                                                               Under
                                            Equity Incentive
                                                                                Plan
                                            Awards  
    All
                                            Other
                                                                                         Stock
                                            Awards:
                                                                                         Number of
                                                                                         Shares
                                            of
                                                                                         Stocks
                                            or