Company: ABUS
Filing Date: 2025-04-04
Form Type: DEF 14A
Source: 0001140361-25-012305
Chunk: 51

Company: Arbutus Biopharma Corp
Filing Date: 2025-04-04
Form: DEF 14A
Chunk 51
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 any, made to Dr. Sims over the previous three years prior to termination, pro-rated for the portion of the year during which she was employed. In the event Dr. Sims’ employment is terminated by us without Cause or by Dr. Sims due to Good Reason, in each case within twelve months following a “Change of Control” (as defined in the Sims Employment Agreement), she will receive (i) a lump sum severance payment equal to two times her annual base salary and (ii) a bonus payment equal to Dr. Sims’ target bonus pro-rated for the portion of the year during which she was employed. In addition, Dr. Sims will 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, all of Dr. Sims’ outstanding stock options and other stock-based awards granted on or after July 11, 2015 will immediately accelerate, vest, and become fully exercisable or nonforfeitable. All severance payments will be made 60 days following such termination, provided Dr. Sims has executed and delivered to us a general release following her termination of employment. If Dr. Sims’ employment with us terminates for any reason, she 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. Dr. Sims’s employment agreement contains typical restrictive covenant provisions, including non-competition restrictions, which apply during the term of her employment and for a period of eighteen months thereafter, and non-solicitation restrictions, which apply during the term of her employment and for a period of twelve months thereafter. Dr. Sims was terminated without Cause, effective as of March 25, 2025. Pursuant to the Sims Separation Agreement, Dr. Sims will receive the amounts indicated above. 31 TABLE OF CONTENTS Dr. Michael J. Sofia Pursuant to the Sofia Employment Agreement, if Dr. Sofia’s employment is terminated by us without “Cause” or by Dr. Sofia due to “Good Reason” (as each such term is defined in the Sofia Employment Agreement), he will receive a lump sum severance payment equal to one and one-half times his then current base salary. Dr. Sofia will also be entitled to reimbursement for any COBRA premiums paid by Dr. Sofia until