February 26, 2021Interim Ceo Agreement • March 2nd, 2021 • Athersys, Inc / New • Pharmaceutical preparations • Delaware
Interim CEO. While you are serving as Interim CEO, you will receive a supplemental base salary payment at a rate of $10,000/month. For 2021, your annual bonus target will be 60% of the actual base salary earned during 2021 (inclusive of supplemental base salary actually paid pursuant to the preceding sentence) and your annual bonus determination will be based 100% upon Company performance. You acknowledge that the Company may remove you from the Interim CEO position at any time, and that neither such removal nor the cessation of the supplemental base salary described above shall constitute a basis for a Good Reason termination under the Employment Agreement between you and the Company, dated as of January 1, 2004, as amended, or otherwise result in any entitlement to severance.
