Company: ABUS
Filing Date: 2025-04-04
Form Type: DEF 14A
Source: 0001140361-25-012305
Chunk: 50

Company: Arbutus Biopharma Corp
Filing Date: 2025-04-04
Form: DEF 14A
Chunk 50
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, Mr. Hastings will be entitled to reimbursement for any COBRA premiums paid by Mr. Hastings until the earlier of (a) twenty-four months following termination or (b) until Mr. Hastings becomes eligible to receive health insurance benefits under any other employer’s group health plan. In addition, all of Mr. Hastings’s outstanding stock options will immediately accelerate, vest, and become fully exercisable or nonforfeitable. All severance payments will be made 60 days following such termination, provided Mr. Hastings has executed and delivered to us a general release following his termination of employment. If Mr. Hastings’ employment with us terminates for any reason, he will receive any base salary and bonus earned but unpaid through the termination date in accordance with our normal payroll practices and any benefits accrued and due under applicable benefit plans and programs of ours and our affiliates. Mr. Hastings’ employment agreement contains typical restrictive covenant provisions, including non-competition restrictions, which apply during the term of his employment and for a period of eighteen months thereafter, and non-solicitation restrictions, which apply during the term of his employment and for a period of twelve months thereafter. Mr. Hastings was terminated without Cause, effective as of the end of the day on March 27, 2025. Pursuant to the Hastings Separation Agreement, he will receive the amounts indicated above. In addition to what Mr. Hastings is entitled to pursuant to the terms of the Hastings Employment Agreement, pursuant to the terms of, and subject to compliance with, the Hastings Separation Agreement, the post-termination exercise period of any vested options to purchase Common Shares held by Mr. Hastings as of the date of his termination as an employee will be extended for up to a year (March 26, 2026) from the date of such termination. Dr. Karen Sims Pursuant to the Sims Employment Agreement, if Dr. Sims’ employment is terminated by us without “Cause” or by Dr. Sims due to “Good Reason” (as each such term is defined in the Sims Employment Agreement), she will receive a lump sum severance payment equal to one and one-half times her then current base salary. Dr. Sims will also be entitled to reimbursement for any COBRA premiums paid by Dr. Sims until the earlier of (a) twenty-four months following termination or (b) until Dr. Sims becomes eligible to receive health insurance benefits under any other employer’s group health plan. In addition, Dr. Sims will receive a bonus payment equal to the average of the bonus payments, if