Sagimet Biosciences Inc. announced on June 6, 2025, the implementation of amended and restated executive employment agreements for its key executives, including CEO David Happel, CFO Thierry Chauche, and Dr. Eduardo Bruno Martins. The revised agreements introduce updated severance provisions to better align with market practices. Under the new terms, if Mr. Happel's employment is terminated without cause or if he resigns for good reason within 12 months following a change in control, he will be entitled to 24 months of his base salary, 24 months' worth of his target bonus, and a prorated target bonus for the current year. Additionally, if Mr. Happel opts for continued health coverage under COBRA, the company will cover both the employee and employer contributions for up to 24 months post-termination or until alternative group medical coverage is obtained. Furthermore, his stock options and other stock-based awards will fully vest immediately upon such termination. Similar terms apply to Mr. Chauche, with nuances in the duration and conditions of the severance benefits.
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