Company: INDP
Filing Date: 2025-02-12
Form Type: S-1
Source: 0001493152-25-006068
Chunk: 130

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-02-12
Form: S-1
Chunk 130
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 in an annual executive bonus plan, pursuant to which he may earn an annual target bonus of up to 40% of his base salary, based on the achievement of certain individual and company-wide objectives, which shall be established by the Company’s Board of Directors on an annual basis. The Board may, in its discretion, grant Dr. Waltzman a bonus in excess of the target bonus if the performance criteria are exceeded or for such additional contributions that the Board may choose to recognize.

Upon termination of Dr. Waltzman’s employment by us without cause or Dr. Waltzman’s resignation for good reason, Dr. Waltzman will be entitled to a severance benefit equal to (i) twelve months of his base salary as in effect prior to the termination date, payable in bi-monthly installments and (ii) an amount equal to Dr. Waltzman’s cost of continued health insurance coverage for twelve months. In addition, if Dr. Waltzman is entitled to receive a bonus for the year of termination based on the achievement of pre-determined performance goals (and ignoring any continuation of employment requirements), Dr. Waltzman (or his representatives) shall be entitled to receive such bonus on the same basis as the other participants in the bonus plan, except that the bonus amount shall be prorated based on the percentage of days Dr. Waltzman was employed relative to the total number of days in the bonus earning period.

If Dr. Waltzman’s employment is terminated by us without cause or by Dr. Waltzman for good reason during the one year period immediately following a change in control or six months before a change in control, then Dr. Waltzman will be entitled to receive, (i) twelve months of his base salary as in effect prior to the termination date, payable in bi-monthly installments, (ii) an amount equal to Dr. Waltzman’s cost of continued health insurance coverage for eighteen months, (iii) his target annual bonus for the year of termination, which shall be paid within 30 days of termination, and (iv) full accelerated vesting of all of outstanding equity incentive awards upon the later of the change in control or Dr. Waltzman’s termination of employment.

In the event that Dr. Waltzman’s employment terminates by reason of his death or disability, and Dr. Waltzman is entitled to receive a bonus for the year of termination based on the achievement of pre-determined performance goals (and ignoring any continuation of employment requirements), Dr. Waltzman (or his representatives) shall be entitled to receive such bonus