Company: VRCA
Filing Date: 2025-04-22
Form Type: DEF 14A
Source: 0001193125-25-087838
Chunk: 52

Company: Verrica Pharmaceuticals Inc.
Filing Date: 2025-04-22
Form: DEF 14A
Chunk 52
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 Mr. Hayes, our Chief Legal Officer, in August 2020. Under the terms of the agreement, Mr. Hayes was initially entitled to receive an annual base salary of $355,000 and an annual bonus of up to 40% of his annual base salary based upon our Board of Directors’ assessment of Mr. Hayes’s performance and our attainment of targeted goals as set by the Board of Directors in their sole discretion. Mr. Hayes also entered into an employee confidential information, inventions, non-solicitationand non-competitionagreement with us. Pursuant to the terms of his employment agreement, Mr. Hayes’s employment is at will and may be terminated at any time by us or Mr. Hayes. If Mr. Hayes’s employment is terminated by us without cause or by Mr. Hayes for good reason, then Mr. Hayes would be eligible to receive severance benefits. The length of severance benefits that Mr. Hayes would receive depends on whether or not he is terminated in connection with a change in control. If Mr. Hayes is terminated by us without cause or if Mr. Hayes resigns with good reason, then Mr. Hayes would be entitled to 12 months of the following severance benefits, less applicable tax withholding:

| • |     | payment of his then-current base salary in accordance with normal payroll procedures for the applicable severance period; and |

| • |     | payment or reimbursement of continued health coverage for Mr. Hayes and his dependents under COBRA for 12 months. |

If Mr. Hayes’s employment is terminated by us without cause or if Mr. Hayes resigns with good reason, in either case within 12 months following or 1 month prior to the effective date of a change in control, then Mr. Hayes would be entitled to the following severance benefits, less applicable tax withholding:

| • |     | payment of his then-current base salary in accordance with normal payroll procedures for 12 months; |

| • |     | payment of a cash severance benefit equal to Mr. Hayes’s annual bonus at the target percentage for the year in which the termination occurs; |

| • |     | payment or reimbursement of continued health coverage for Mr. Hayes and his dependents under COBRA for 12 months; and |

| • |     | all equity awards held by Mr. Hayes will automatically vest. |

**Dr. Goldenberg In connection with his resignation from employment as our Chief Medical Officer, on February 27, 2025, we entered into a Release Agreement