Amended and Restated Change in Control and Severance Participation Agreement between PMV Pharmaceuticals, Inc. and Rob Ticktin
This agreement between PMV Pharmaceuticals, Inc. and Rob Ticktin outlines the severance benefits Rob Ticktin will receive if his employment ends under certain conditions. If his termination follows a change in control of the company, he will receive full vesting of equity awards, a year’s base salary, his target bonus, and up to 12 months of COBRA health coverage. If terminated without a change in control, he receives partial equity vesting, nine months’ salary, and up to nine months of COBRA coverage. The agreement supersedes any prior severance or change in control arrangements.
Exhibit 10.3
Change in Control and Severance Policy (the "Policy") Amended and Restated Participation Agreement
This Amended and Restated Participation Agreement ("Agreement") is made and entered into by and between Rob Ticktin, on the one hand, and PMV Pharmaceuticals, Inc. (the "Company") on the other.
In connection with your appointment as a Company officer, you are entitled to receive certain severance benefits upon a Qualified Termination, subject to the terms and conditions of the Policy, as set forth herein.
CIC Qualified Termination. Upon your CIC Qualified Termination, you will be entitled to the following benefits, subject to the terms and conditions of the Policy:
Non-CIC Qualified Termination. Upon your Non-CIC Qualified Termination, you will be entitled to the following benefits, subject to the terms and conditions of the Policy:
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"IPO Date" means the effective date of the first registration statement that is filed by the Company and declared effective pursuant to Section 12(b) of the Exchange Act of 1934, with respect to the Company's common stock.
Other Provisions
You agree that the Policy and the Agreement constitute the entire agreement of the parties hereto and supersede in their entirety all prior representations, understandings, undertakings or agreements (whether oral or written and whether expressed or implied) of the parties, and will specifically supersede any severance and/or change of control provisions of any offer letter, employment agreement, or equity award agreement entered into between you and the Company and/or any of its subsidiaries.
This Agreement may be executed in counterparts, each of which will be deemed an original, but all of which together will constitute one and the same instrument.
By signing below, each of the parties signifies his, her, or its acceptance of the terms of this Agreement, in the case of the Company by its duly authorized officer, effective as of the last date set forth below.
[Signature Page Follows]
By signing below, each of the parties signifies his, her, or its acceptance of the terms of this Agreement, in the case of the Company by its duly authorized officer, effective as of the last date set forth below.
PMV PHARMACEUTICALS, INC.
By: David Mack
Date: 11/5/2024
ELIGIBLE EMPLOYEE
By: Robert Ticktin
Date: 11/5/2024
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