Innoviva enters new CEO employment agreement with Pavel Raifeld through April 2024

Innoviva, Inc.

Base salary $455k in year one, $500k in year two; bonus target 70% then 80% of salary.
Option grant of 150,000 shares; 25% vesting immediately, rest quarterly over three years with acceleration on change-in-control involuntary termination.
Severance without cause: continued salary for longer of 6 months or through April 30, 2024, plus pro-rata bonus subject to release.
Initial term May 1, 2022 to April 30, 2024; automatic renewal for one-year periods unless 60-day non-extension notice given.

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