BriaCell Therapeutics CEO Compensation Adjustment Letter (Dr. William V. Williams, June 2022)
BriaCell Therapeutics Corporation, through its Compensation Committee, informs Dr. William V. Williams, its Chief Executive Officer, of an increase in his annual compensation package effective July 1, 2022. The new package includes a $650,000 annual salary, a $150,000 cash bonus, and a $250,000 option award, totaling up to $1,050,000. The letter acknowledges Dr. Williams' leadership and contributions over the past year and expresses confidence in his continued performance. No additional conditions or time limits are specified beyond the effective date.
Exhibit 10.23
June 21, 2022
Dr. William V. Williams
Chief Executive Officer
BriaCell Therapeutics Corporation
2929 Arch Street, 3rd Fl.
Philadelphia, PA 19104
RE: Compensation
Dear Bill,
This past year you have performed your duties admirably and demonstrated exceptional executive leadership over BriaCell. Most notably, you have assembled an excellent senior management team, effectively managed our on-going clinical development efforts, and efficiently managed our general and administrative functions including strong fiscal oversight of our budget. We greatly appreciate all your efforts and thank you for a job well done!
The Compensation Committee of the Board of Directors, in its continuing effort to bring your compensation package up to industry standard comparable levels, has approved the following increase to your annual compensation package effective as of July 1, 2022:
New Compensation Package –
| ● | Annual Salary - $650,000 | |
| ● | Cash Bonus - $150,000 | |
| ● | Option Award (PSO) – $250,000. | |
| ● | Total Cash, Bonus and Option Award – Up to $1,050,000. |
As we look forward to the upcoming year and the challenges that will define our success, we are faced with the extraordinary requirement of everyone putting forth their very best efforts. We have high confidence in you, your team, and the outcomes we will achieve. Keep up the great work and we sincerely appreciate all your efforts,
Thank you,
Jamieson Bondarenko
Chairman
BriaCell Therapeutics Corporation
Suite 300 – Bellevue Centre, 235 – 15th Street
West Vancouver, BC V7T 2X1
