Company: ABUS
Filing Date: 2025-04-04
Form Type: DEF 14A
Source: 0001140361-25-012305
Chunk: 45

Company: Arbutus Biopharma Corp
Filing Date: 2025-04-04
Form: DEF 14A
Chunk 45
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 to compliance with, the McElhaugh Separation Agreement, the post-termination exercise period of any vested options to purchase Common Shares held by Mr. McElhaugh as of the date of his termination as an employee will be extended for up to a year (February 23, 2026) from the date of such termination. David C. Hastings On June 11, 2018, the Subsidiary entered into an Executive Employment Agreement with Mr. Hastings (the “Hastings Employment Agreement”), which provides that Mr. Hastings will be employed, and that his employment will continue until either party terminates his employment in accordance with the terms of the Hastings Employment 27 TABLE OF CONTENTS Agreement. The Hastings Employment Agreement provides that Dr. Hastings will receive an annual base salary, subject to annual increases as determined by the Chief Financial Officer, and an annual target bonus equal to 40% of Mr. Hasting’s base salary. In addition, the Hastings Employment Agreement provides that Dr. Hastings will be entitled to participate in or receive benefits under Arbutus’ employee benefit plans as they may be adopted and amended from time to time, subject to the terms and conditions of those employee benefit plans. Mr. Hastings’s employment was terminated without cause, effective as of the end of the day on March 27, 2025. In connection with Mr. Hastings’s termination, Mr. Hastings and the Subsidiary entered into a Separation Agreement and General Release, dated April 2, 2025 (the “Hastings Separation Agreement”), which sets forth the terms of Mr. Hasting’s separation from the Company, which are materially consistent with the terms of the Hastings Employment Agreement as described below under “Additional Narrative Disclosure - Termination and Change of Control Benefits.” 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 On July 10, 2023, the Subsidiary entered into an Executive Employment Agreement with Dr. Sims (the “Sims Employment Agreement”), which provides that Dr. Sims will be employed, and that her employment will continue until either party terminates her employment