Endocyte, Inc. Executive Change in Control and Severance Agreement Schedule (February 2018)

Summary

This agreement outlines the severance and change in control benefits for executive officers of Endocyte, Inc. If an executive is terminated without cause or resigns for good reason, they are entitled to specific severance payments, COBRA health coverage continuation, and accelerated vesting of equity awards. The benefits increase if the termination occurs within 12 months following a change in control. The agreement specifies the percentage of base salary and target bonus paid, the duration of COBRA coverage, and the percentage of unvested equity awards that will vest for each named executive officer.

EX-10.26 6 ecyt-20171231ex1026018b1.htm EX-10.26 ecyt_Ex10_26

Exhibit 10.26

 

ENDOCYTE, INC.

 

SCHEDULE OF TERMS FOR

CHANGE IN CONTROL AND SEVERANCE AGREEMENTS

WITH EXECUTIVE OFFICERS

 

February 2018

 

 

 

 

Termination without Cause or Resignation for Good Reason, prior to a Change in Control or after 12 months following a Change in Control

Termination without Cause or Resignation for Good Reason, within 12 months following a Change in Control

Name of Executive Officer

Date of Agreement

Severance Payment – Percentage of Base Salary

140% COBRA Continuation

Accelerated vesting for equity awards that would have vested over the following

Severance Payment – Percentage of Base Salary

Severance Payment – Percentage of Target Bonus

140% COBRA Continuation

Percentage of unvested equity awards that will immediately vest

Michael A. Sherman

6/17/16

100%

12 months

12 months

200%

200%

24 months

100%

Michael A. Andriole

2/20/17

75%

9 months

9 months

150%

150%

18 months

100%

Alison A. Armour

8/10/15

75%

9 months

9 months

150%

150%

18 months

100%

Beth A. Taylor

5/15/15

75%

9 months

9 months

100%

100%

12 months

100%

Erik Chelius

2/21/18

75%

9 months

9 months

100%

100%

12 months

100%

Christopher P. Leamon

5/15/15

75%

9 months

9 months

150%

150%

18 months

100%

Katherine K. Parker

5/15/15

75%

9 months

9 months

100%

100%

12 months

100%