Company: FENC
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001558370-25-005563
Chunk: 34

Company: FENNEC PHARMACEUTICALS INC.
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 34
---
 by the Board, provided that he must remain employed through the payment date to be eligible to receive the Target Bonus. In addition, the Company will grant Mr. Sayad 150,000 options to purchase common shares of the Company which (i) have an exercise price per share equal to the “Fair Market Value” (as defined in Company’s 2020 Equity Incentive Plan); (ii) have a term of ten years, with one-third of the options vesting one year after the date of grant and the balance thereof vesting monthly thereafter for two years in equal increments, and (iii) are otherwise subject to the terms and conditions set forth in the Company’s 2020 Equity Incentive Plan. In addition to their employment agreements, Mr. Hackman, Mr. Raykov, Mr. Andrade and Dr. Sayad and are a party to a confidentiality and intellectual property agreement with the Corporation. In the employment agreements for each of Mr. Hackman, Mr. Raykov, Mr. Andrade and Dr. Sayad, “for cause” is generally defined as (1) material breach of the terms of the employment or intellectual property agreements; (2) failure to perform the duties inherent in their position in good faith and in a reasonable and appropriate manner; or (3) acts of fraud or embezzlement or other intentional misconduct which adversely affects our business. Payments on Termination The following table provides details regarding the estimated incremental payments from us to each of the Named Executive Officers assuming termination without cause on December 31, 2024.

| ​                   
 Name                | ​ | ​         
 Severance |       ​ | ​ | ​               
 Estimated Bonus |       ​ | ​ | ​                 
 Value of benefits |       ​ |
|:--------------------|:--|:----------|--------:|:--|:----------------|--------:|:--|:------------------|--------:|
| Jeff Hackman, CEO   | ​ | $         | 550,000 | ​ | $               | 275,000 | ​ | $                 | 825,000 |
| Robert Andrade, CFO | ​ | $         | 347,664 | ​ | $               | 161,113 | ​ | $                 | 508,777 |
| Pierre Sayad, CMO   | ​ | $         | 337,500 | ​ | $               | 135,000 | ​ | $                 | 472,500 |

Page21

Payments on Change of Control The following