Company: SION
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001193125-25-101830
Chunk: 47

Company: Sionna Therapeutics, Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 47
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ises taxes had been paid (also known as a 280G modified cutback).

Severance and Change in Control Plan

On December 12, 2024, our board of directors adopted the New Severance and CIC Plan. Employees with the job title of vice president and above at the time of termination (or, if applicable, “change in control” (as defined in the New Severance and CIC Plan)) and who have executed a participation agreement (each, an “Eligible Employee”), is eligible to participate in the New Severance and CIC Plan.

The New Severance and CIC Plan provides that, at any time outside of a change in control period (as defined below), upon a (i) termination by us for any reason other than due to “cause,” death or “disability” (as such terms are defined in the New Severance and CIC Plan) or (ii) for an Eligible Employee with a C-level position and who reports directly to our chief executive officer and/or has a job title of Executive Vice President or above (each, an “Executive”), resignation for “good reason” (as defined in the New Severance and CIC Plan), an Eligible Employee or Executive will be entitled to receive, subject to the execution and delivery of an effective and irrevocable release of claims in favor of us and continued compliance with all applicable restrictive covenants, (A) (x) 12 months of continued base salary for our chief executive officer and (y) nine months of continued base salary for each of our Executives and for each of our senior vice presidents, (B) a prorated “target bonus” (i.e., the higher of the target annual performance bonus for the year in which the termination occurs or the target annual performance bonus in effect as of immediately prior to a change in control, as applicable) for each of our Executives and senior vice presidents and (C) if the Eligible Employee elects to continue health and dental insurance coverage following such termination, an amount equal to the monthly employer contribution, based on the premiums as of the date of termination, that we would have made to provide health insurance for the applicable executive if he or she had remained employed by us for up to (x) 12 months for our chief executive officer and (y) nine months for each of our Executives and for each of our senior vice presidents. The payments under (A) and (C), as applicable, will be