---
schema_version: "secwatch.filing_event.v1"
accession: "0001185185-23-000448"
form_type: "8-K"
ticker: "IGC"
cik: "0001326205"
company_name: "IGC Pharma, Inc."
filed_at: "2023-05-08T23:59:59+00:00"
generated_at: "2026-06-15T12:29:20.126584+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# IGC Pharma enters 5-year employment agreement with PFO Claudia Grimaldi; $200k base salary

## Summary
- Five-year initial term with auto-renew; $200,000 annual base salary, subject to annual Board review.
- Eligible for annual bonus and equity grants under 2018 Omnibus Incentive Plan.
- Severance: if terminated without cause or for good reason, receives either base pay for remainder of term or 1.5x avg total compensation of prior 2 years; plus health and D&O coverage.
- In change-of-control scenario within 12 months, severance multiplier rises to 2.99x and all unvested equity vests immediately.
- Executive receives auto allowance ($95/month personal use), 20 days vacation, 8 days sick leave, and indemnification.

## SEC filing metadata
- accession: 0001185185-23-000448
- form_type: 8-K
- ticker: IGC
- cik: 0001326205
- company_name: IGC Pharma, Inc.
- filed_at: 2023-05-08T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1326205/000118518523000448/0001185185-23-000448-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1326205/000118518523000448/igcpharma20230505_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001185185-23-000448
- JSON: https://secwatch.observer/filing/0001185185-23-000448.json
- Plain text: https://secwatch.observer/filing/0001185185-23-000448.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.