Company: TVRD
Filing Date: 2025-02-14
Form Type: 424B3
Source: 0001104659-25-014310
Chunk: 644

Company: Tvardi Therapeutics, Inc.
Filing Date: 2025-02-14
Form: 424B3
Chunk 644
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 expenses in accordance with Cara’s standard expense reimbursement policy. Ryan Maynard Under Ryan Maynard’s offer letter entered into in August 2022, Mr. Maynard serves as Cara’s Chief Financial Officer. Mr. Maynard’s salary and target bonus for 2024 are discussed above. Mr. Maynard is also eligible to participate in Cara’s employee benefit plans and programs, and to receive reimbursement for reasonable business expenses in accordance with Cara’s standard expense reimbursement policy. Scott Terrillion Under an offer letter entered into in October 2016, Mr. Terrillion serves as Cara’s General Counsel. Mr. Terrillion’s salary and target bonus for 2024 are discussed above. In addition to the salary and bonus, Mr. Terrillion is also eligible to participate in Cara’s employee benefits plans and programs, and to receive reimbursement for reasonable business expenses in accordance with Cara’s standard expense reimbursement policy. Severance and Change in Control Benefits Cara has entered into participation agreements with each of Mr. Maynard and Mr. Terrillion with respect to the Severance Plan that Cara’s Board approved in October 2021 upon the recommendation of the Compensation Committee (Severance Plan). The Severance Plan provides for certain severance benefits for each employee of Cara who (i) is the Chief Executive Officer or has been designated by the Cara Board or Compensation Committee to participate in the Severance Plan, (ii) has executed Cara’s standard confidentially and inventions assignment agreement, and (iii) has timely and properly executed and delivered a participation agreement to Cara (each, a Covered Employee) in the event the Covered Employee’s employment is terminated by Cara without Cause or the Covered Employee resigns for Good Reason (each such term as defined in the Severance Plan), so long as, in either case, such termination is not due to the Covered Employee’s death or disability (any such termination, a Covered Termination). Mr. Maynard and Mr. Terrillion are both Covered Employees under

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the Severance Plan. In the event of a Covered Termination outside of the Change in Control Period (as defined below), each such individual will be eligible to receive:

(a) cash severance in an amount equal to the Covered Employee’s base salary for nine months;

(b) a prorated portion of the Covered Employee’s target annual bonus (if any), for the year in which the Covered Termination occurs; and

(c) payment of the applicable premiums for the Covered Employee and the Covered Employee’s eligible dependents to continue