Company: LBRX
Filing Date: 2025-08-22
Form Type: S-1
Source: 0001193125-25-186467
Chunk: 277

Company: LB PHARMACEUTICALS INC
Filing Date: 2025-08-22
Form: S-1
Chunk 277
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 (26) weeks
after the date of such termination; (B) in the event of his disability, the date he became eligible to receive healthcare coverage from a subsequent employer, or (C) the date he was no longer eligible to receive COBRA continuation
coverage.

In May 2025, we entered into a separation agreement with Mr. Sawhney, or the Sawhney Separation Agreement, pursuant to
which his employment with us terminated effective May 7, 2025. Pursuant to the Sawhney Separation Agreement, Mr. Sawhney is receiving the following benefits: (i) the equivalent of nine (9) months of base salary, (ii) up to
nine (9) months of COBRA premiums, (iii) acceleration of his then-outstanding and unvested stock option under the 2023 Plan, such that 25% of the shares subject to the option will be treated as vested and exercisable as of May 7,
2025, and (iv) retention of our company-issued laptop computer provided to him during his employment.

Anna Eramo, M.D.

If we terminate Dr. Eramo’s employment without cause or she resigns for good reason (each of “cause” and “good
reason” as defined in the Eramo Employment Agreement), then Dr. Eramo will be entitled to receive the following benefits pursuant to the Eramo Employment Agreement: (i) a severance payment equal to eighteen (18) months of her
then-current base salary, (ii) a pro rata portion of the annual bonus for the fiscal year in which the termination occurs, to the extent earned based on actual performance, and (iii) if Dr. Eramo is eligible for and elects group
health plan continuation coverage under COBRA, we will reimburse Dr. Eramo for eighteen (18) months of the monthly COBRA premium paid by her for herself and her spouse/dependents, and (iv) an additional six (6) monthly
installments of the option to purchase 750,000 shares of our common stock that Dr. Eramo received in August 2023 will automatically vest.

If, in the alternative, we terminate Dr. Eramo’s employment in the event of a change in control (as defined in the Eramo Employment
Agreement), Dr. Eramo will be entitled to receive the following benefits in lieu of the regular severance benefits