Company: ZURA
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001104659-25-038042
Chunk: 48

Company: Zura Bio Ltd
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 48
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 a target of 40% of his annual salary. • Participation in Zura UK’s benefit plans, subject the terms and conditions of those benefit plans as may be amended from time to time. Effective as of January 1, 2025, Dr. Nistala’s annual salary was increased to $453,000 with a target bonus opportunity of 40% of his annual base salary. The Nistala Agreement is terminable by either Dr. Nistala or Zura UK on not less than three (3) months’ written notice. Zura UK may, in its sole discretion, terminate employment with immediate effect and make a payment in lieu of this notice period or may place Dr. Nistala on garden leave for the whole or part of this notice period. The Nistala Agreement provides for additional payments in connection with a termination of employment, as described below under the heading “Potential Payments Upon Termination or Change in Control.” Potential Payments Upon Termination or Change in Control Regardless of the manner in which a named executive officer’s service terminates, each named executive officer is entitled to receive amounts earned during his or her term of service, including unpaid salary and unused vacation. 28 TABLE OF CONTENTS Someit Sidhu While the Sidhu Agreement was in effect, it could be terminated by either party giving the other not less than three (3) months’ prior notice, subject to the Company’s right to buy out the three month notice period in its discretion by providing garden leave and its right to terminate the Sidhu Agreement immediately for cause (as defined under the Sidhu Agreement) without further payment of compensation except as required by law or for reimbursement of eligible incurred expenses. If Dr. Sidhu’s employment were terminated by the Company without cause, Dr. Sidhu would have been entitled to receive severance payments equal to six (6) months’ salary, subject to signing a release and complying with the obligations under his agreement. The Sidhu Agreement also contained certain customary obligations, including confidentiality and cooperation. As previously disclosed, Dr. Sidhu transitioned from his role as the Company’s Chief Executive Officer, effective April 8, 2024. In connection with the CEO Transition, the parties entered into a settlement agreement (the “Settlement Agreement”) pursuant to which the Company agreed, so long as Dr. Sidhu did not revoke the Settlement Agreement and met his obligations thereunder, to pay Dr. Sidhu his accrued salary as of April 8, 2024, $140,760 in lieu of