Signing Incentives. Subject to the approval of Board of Point BioPharma Inc. (the “Parent”), you will be granted a non-qualified option to purchase 50,000 shares of the Common Stock of Parent (the “Option”), subject to the terms and conditions applicable to options granted under the Equity Incentive Plan and the stock option agreement (together with the Equity Incentive Plan, the “Option Agreement”). The exercise price per share of the Option will be equal to the fair market value per share of the Parent’s Common Stock on the date the Option is granted, as determined by the Parent Board.
Signing Incentives. A signing bonus of $60,000 will be paid on the last pay cycle of December 2020, provided that you remain employed by the Company on the date of payment, and will be subject to applicable withholdings and deductions. Subject to the approval of Board of Point BioPharma Inc. (the “Parent”), you will be granted a nonqualified option to purchase 35,000 shares of the Common Stock of Parent (the “Option”), subject to the terms and conditions applicable to options granted under the Equity Incentive Plan and the stock option agreement (together with the Equity Incentive Plan, the “Option Agreement”). The exercise price per share of the Option will be equal to the fair market value per share of the Parent’s Common Stock on the date the Option is granted, as determined by the Parent Board. You will vest in 100% of the Option shares after one month of continuous service, as described in the Option Agreement. Subject to achievement of the Objectives, as determined by the Board (or the Company’s Compensation Committee), you will be eligible to receive your Annual Bonus for the 2020 fiscal year, which, if earned, shall be calculated as if you were employed by the Company as of January 1, 2020. For the 2020 calendar year only, and subject to achievement of the Objectives, as determined by the Board (or the Company’s Compensation Committee), you may be entitled to receive additional grants of stock options for a number of shares of Common Stock of Parent up to a 2020 Base Salary by 25% (i.e. $325,000 X 25% =81,250 shares), which shall be subject to the terms and conditions of the Equity Incentive Plan and the applicable award agreement. Your entitlement to such a grant shall be determined as if you were employed by the Company as of January 1, 2020.
Signing Incentives. Executive will receive a lump-sum signing bonus in the amount of $100,000 (gross), subject to the condition stated below. This bonus will be paid (net of standard payroll deductions and withholdings) as soon as administratively feasible following Executive’s first day of employment (the “Start Date”). The signing bonus is conditioned on Executive remaining employed by the Company for a year. Consequently, Executive will be obligated to repay the bonus in full in the event Executive resigns for any reason or is terminated for Cause within twelve (12) months of the Start Date. The Company reserves the right to recoup the signing bonus by setoff against Executive’s salary or other amounts otherwise owed Executive. In addition, Executive will receive a one-time grant of 20,000 shares of restricted stock, which will vest annually in three (3) equal installments beginning on April 1, 2022. Executive will receive the LTI described above in addition to this one-time grant.
Signing Incentives
