Summary by Futu AI
On September 5, 2024, 180 Life Sciences Corp. entered into a Separation and Release Agreement with Sir Marc Feldmann, its former Co-Executive Chairman and CEO of its subsidiary Cannbiorex Pharma Ltd., as well as a current director. The agreement includes the issuance of 57,328 shares of common stock and options to purchase 20,000 shares at $1.95 per share to Sir Feldmann. These are to be issued under the company's incentive plan as compensation for past services. Additionally, Sir Feldmann has agreed to confidentiality and non-disparagement covenants. Concurrently, an Indemnification Agreement was made to provide Sir Feldmann with indemnification under Delaware law for his service to the company. Following the stock issuance to Sir Feldmann, 180 Life Sciences will have 1,026,930 shares of common stock issued and outstanding.