Company: SION
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001193125-25-101830
Chunk: 48

Company: Sionna Therapeutics, Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 48
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 paid in substantially equal installments in accordance with our payroll practice over 12 months for our chief executive officer and nine months for each of our Executives and each of our senior vice presidents, and the payments under (B) are payable upon the first installment of such payments in accordance with our payroll practice. A “change in control” period means the period commencing upon a change in control (as defined in the New Severance and CIC Plan) and ending 12 months after such change in control.**

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The New Severance and CIC Plan also provides that, at any time during a change in control period, upon a (i) termination by us for any reason other than due to cause, death or disability or (ii) for Executives, resignation for good reason, an Eligible Employee will be entitled to receive, in lieu of the payments and benefits above and subject to the execution and delivery of an effective and irrevocable release of claims in favor of us and continued compliance with all applicable restrictive covenants, (A) for our chief executive officer, a lump sum cash amount equal to (x) 1.5x the sum of his base salary and target bonus, (y) for each of our Executives and senior vice presidents, 1x the sum of the base salary and target bonus for such individual and (z) for each of our vice presidents, 0.75x the sum of the base salary and the target bonus, (B) if the Eligible Employee elects to continue health and dental insurance coverage following such termination, an amount equal to the monthly employer contribution, based on the premiums as of the date of termination, that we would have made to provide health insurance for the applicable executive if he or she had remained employed by us for (x) 18 months for our chief executive officer, (y) 12 months for each of our Executives and senior vice presidents and (z) nine months for each of our vice presidents, and (C) for all outstanding and unvested equity awards of Sionna that are subject to time-based vesting held by an Eligible Employee, full accelerated vesting of such awards; provided, that any equity awards with performance-based vesting will be treated as specified in the applicable award agreement.

The payments and benefits provided under the New Severance and CIC Plan in connection with a change in control may not be eligible for a federal income tax deduction by us