IGC enters 5-year CEO employment agreement with Ram Mukunda; salary $360K

IGC Pharma, Inc.

Employment agreement effective November 18, 2021; initial 5-year term with automatic 12-month renewals.
Annual base salary of $360,000; eligible for annual bonus and equity grants under 2018 Omnibus Incentive Plan.
Severance: 1.5x avg total comp (non-CIC) paid over 18 months; 2.99x lump sum upon change-in-control.
Post-termination non-compete for 12 months; must retain 35% of equity received during tenure.
Perquisites include car allowance ($1,500/month lease), D&O insurance for 10 years post-termination.

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