other material
confidence high
sentiment negative
materiality 0.60
GRI Bio CMO Albert Agro reduced to 70 hrs/month, salary cut to $100k
GRI Bio, Inc.
- CMO Albert Agro's base salary reduced from $325,000 to $100,000 annually.
- Agro now required to work at least 70 hours per month, may take other consulting work.
- Annual cash performance bonus and severance upon termination without cause eliminated.
- Employment now terminable by either party with 30 days' notice; no severance benefits.
- Effective June 17, 2024; amendment filed as Exhibit 10.1.