ImmuCell VP of Manufacturing to retire July 2025; enters separation agreement

IMMUCELL CORP /DE/

Elizabeth L. Williams moves to part-time effective Dec 7, 2024; retires July 1, 2025.
She will work ≤10 hrs/week transitioning tasks; all prior employment agreements terminated.
Eligible for $100,000 transition incentive if she works through June 30, 2025 and signs affirmation.
Outstanding stock options continue to vest per plan terms until separation date.
During transition she accrues no PTO and loses group health coverage (COBRA available at own cost).

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