Virpax appoints Gerald Bruce as CEO with $500K base salary and severance provisions

Virpax Pharmaceuticals, Inc.

Gerald Bruce appointed CEO of Virpax Pharmaceuticals, employment agreement dated December 6, 2023.
Annual base salary of $500,000; eligible for annual bonus up to 50% of base salary, based on Board-determined metrics.
Severance without cause or for good reason: 12 months base salary, medical premium reimbursement, and option vesting acceleration for 12 months.
Change in control severance: lump sum of 2x base salary plus 2x average bonus, with full equity acceleration.

item 5.02 item 9.01

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Appointed

Gerald Bruce

Chief Executive Officer

Virpax Pharmaceuticals, Inc.

Effective: 2023-12-06
Filed: December 7, 2023, 6:59 PM ET

On December 6, 2023, Virpax Pharmaceuticals, Inc. (the “Company”) entered into an employment agreement with Gerald Bruce (the “Bruce Employment Agreement”).

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Gerald Bruce was appointed as Chief Executive Officer at Virpax Pharmaceuticals, Inc..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

On December 6, 2023, Virpax Pharmaceuticals, Inc. (the “Company”) entered into an employment agreement with Gerald Bruce (the “Bruce Employment Agreement”).

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Source: SEC EDGAR

accession 0001213900-23-093903

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