Company: LCTX
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0000950170-25-060090
Chunk: 33

Company: Lineage Cell Therapeutics, Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 33
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 increases.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |     | Same as above except the number of months are 18 for Mr. Culley and 12 for each of Ms. Howe and Mr. Samuel.Accelerated vesting of all then unexpired, unvested equity awards granted to the executive (with such acceleration occurring on the later of the change of control or the termination of employment) other than any awards that include both a performance-based vesting condition and a time-based vesting condition or that vest solely upon the achievement of a performance-based vesting condition (unless such performance-based vesting condition has been satisfied as of the date of termination). |

(1) Payment and benefits are conditioned on the executive executing and delivering a release of claims in our favor. (2) 12 months for Mr. Culley and 9 months for each of Ms. Howe and Mr. Samuel. (3) 100% for Mr. Culley and a pro rata portion for each of Ms. Howe and Mr. Samuel. (4) 18 months for Mr. Culley and 12 months for each of Ms. Howe and Mr. Samuel. (5) 150% for Mr. Culley and 100% for each of Ms. Howe and Mr. Samuel.

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In addition, under Ms. Howe’s employment agreement, she was granted a stock option to purchase 1,000,000 common shares with an exercise price equal to the closing price of our common shares on the grant date and that vests as to 25% of the shares subject to the option on the first anniversary of her start date with us, and the remainder of the shares will vest in a series of 36 successive substantially equal monthly installments thereafter, in each case, subject to her continued service with Lineage.

All payments made and benefits to each executive under their employment agreement are intended to comply with Section 409A of the Internal Revenue Code of 1986, and, to the extent practicable, the employment agreements will be interpreted and administered in a manner so that any amount or benefit payable thereunder will be paid or provided in a manner that is either exempt from or compliant with the requirements of Section 409A and applicable Internal Revenue Service guidance and Treasury Regulations issued thereunder.

Elements of Compensation

Base Salary

Our Compensation Committee or Board reviews the base salaries of our executive officers, including our named executive officers, from time to time and makes adjustments as it determines to be reasonable and necessary