StockWatch
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Pharmaceutical Preparations
Corporate GovernanceJul 23, 2026, 04:57 PM

Serina Therapeutics Updates CEO Steve Ledger's Employment Terms

AI Summary

Serina Therapeutics, Inc. entered into an Amended and Restated Employment Agreement with its CEO, Steve Ledger, on July 19, 2026. The agreement sets his annual base salary at $500,000 and a target annual bonus of 50% of his base salary. It outlines severance provisions, including 12 months' base salary and pro-rated bonus for termination without cause, and enhanced benefits (1.5x base salary and bonus, accelerated equity vesting) in case of a change in control. The agreement also contains confidentiality, non-competition, non-solicitation, and non-disparagement covenants.

Key Highlights

  • CEO Steve Ledger's annual base salary set at $500,000.
  • Eligible for a target annual bonus of 50% of base salary.
  • Termination without cause: 12 months' base salary, pro-rated bonus, 12 months COBRA.
  • Change in Control termination: 1.5x base salary, 1.5x target bonus, pro-rated bonus, 18 months COBRA, full equity vesting.
  • Agreement includes 2-year non-competition and 18-month non-solicitation clauses.