Company: PGEN
Filing Date: 2025-05-16
Form Type: DEF 14A
Source: 0001140361-25-019470
Chunk: 70

Company: PRECIGEN, INC.
Filing Date: 2025-05-16
Form: DEF 14A
Chunk 70
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52

TABLE OF CONTENTS POTENTIAL PAYMENTS UPON TERMINATION OR A CHANGE IN CONTROL Employment Agreements with Named Executive Officers Mr. Lehr is a party to a continuing employment agreement with the Company entered into in April 2019 that provides for certain severance rights upon termination without “Cause” (as defined in the employment agreement) or resignation by him for “Good Reason” (as defined in the employment agreement). Pursuant to the terms of the employment agreement, subject to the execution of a release of claims, Mr. Lehr would be entitled to receive (i) payment equivalent to 18 months of his base pay, and (ii) his expected cost of COBRA premiums for continued medical coverage for up to 18 months. In addition, in February 2024, the Company entered into a continuing employment agreement with each of Messrs. Thomasian and Shah that provide for certain severance rights upon termination without “Cause” (as defined in the applicable employment agreement) or resignation by the executive officer for “Good Reason” (as defined in the applicable employment agreement). Pursuant to the terms of these employment agreements, subject to the execution of a release of claims, the named executive officer would be entitled to receive (i) payment equivalent to 12 months of his base pay, and (ii) the named executive officer’s expected cost of COBRA premiums for continued medical coverage for up to 12 months. In connection with his appointment to the position of Chief Commercial Officer in July 2024, the Company entered into an employment agreement with Mr. Tennant, with terms consistent with that of Messrs. Thomasian and Shah noted above. Mr. Perez was also party to an employment agreement with the Company, with the terms consistent with those described above for Mr. Lehr. In connection with his separation from employment in November 2024, Mr. Perez received the severance payments and benefits provided under his employment agreement, as set forth below. Employment Agreement with Dr. Sabzevari In connection with her appointment to the position of President and CEO in January 2020, we entered into an employment agreement with Dr. Sabzevari (the “CEO Employment Agreement”). The term under the CEO Employment Agreement commenced on January 1, 2020 and continues until terminated in accordance with the CEO Employment Agreement. Dr. Sabzevari’s initial annual base salary under the CEO Employment Agreement is $1,000,000. Dr. Sabzevari received sign-on equity grants in connection with her commencement of employment with