Company: CDT
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001246
Chunk: 799

Company: CDT Equity Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 9B
Chunk 799
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, and (ii) a target annual
bonus opportunity equal to 50% of his base salary, payable based on the achievement of performance objectives as determined by our
board of directors. In addition, the Tapolczay Employment Agreement provides that Dr. Tapolczay is entitled to receive a sign-on
stock option award to purchase 0.40% of the shares of our Common Stock pursuant to the terms of the 2023 Stock Incentive Plan, which
shall vest in equal annual installments on the first four anniversaries of the Business Combination. The Tapolczay Employment
Agreement provides that if we terminate Dr. Tapolczay’s employment other than for cause or disability, or if he terminates his
employment for good reason, in either case other than the change in control protection period (described below), he would be
entitled to receive (i) continued payment of his annual base salary for 12 months following the date of termination, (ii) a lump sum
payment of his annual cash performance bonus that had been earned by him for a completed fiscal year or other measuring period but
that had not yet been paid to him as of the date of termination, (iii) a lump sum payment equal to his then target annual bonus
opportunity, pro-rated based on the total number of days elapsed in the calendar year through the date of termination, (iv) payment
or reimbursement of the COBRA premiums for him and his eligible dependents, or if COBRA is not available under our group health
plan, a cash amount equal to such payments or reimbursements (in either case, less the premiums he was paying for such coverage
while employed), until the earliest of (x) the last day of the applicable salary continuation period specified above, or (y) the
date he becomes eligible for comparable health insurance coverage under a subsequent employer’s group health plan; and (v)
accelerated vesting of such number of his unvested equity awards as would have vested had he remained employed during the 12-month
period following his date of termination (provided, however, that, any equity awards that vest in whole or in part based on the
attainment of performance-vesting conditions shall be governed by the terms of the applicable award agreement).

The
Tapolczay Employment Agreement provides that if we terminate Dr. Tapolczay’s employment other than for cause or disability, or
if he terminates his employment for good reason, in