iBio has entered into an amended employment agreement with CEO and CSO Martin Brenner, effective July 1, 2024. The agreement sets Brenner's base salary at $522,365 and increases his bonus target to 50% of base salary for fiscal year 2025, while maintaining the 40% target for fiscal year 2024. The agreement includes standard benefits and participation in the company's executive officer benefit plans.The updated agreement outlines enhanced severance provisions. In case of termination without cause or resignation for good reason, Brenner will receive 12 months of base salary, pro-rated bonus, and 12 months of COBRA coverage. If such termination occurs around a Sale Event, benefits increase to 18 months of salary, target bonus payment, accelerated equity vesting, and 18 months of COBRA coverage.The agreement includes standard intellectual property assignment provisions and non-solicitation terms. All severance payments are contingent upon executing a general release of claims, maintaining Brenner's "at will" employment status.

iBio has entered into an amended employment agreement with CEO and CSO Martin Brenner, effective July 1, 2024. The agreement sets Brenner's base salary at $522,365 and increases his bonus target to 50% of base salary for fiscal year 2025, while maintaining the 40% target for fiscal year 2024. The agreement includes standard benefits and participation in the company's executive officer benefit plans.The updated agreement outlines enhanced severance provisions. In case of termination without cause or resignation for good reason, Brenner will receive 12 months of base salary, pro-rated bonus, and 12 months of COBRA coverage. If such termination occurs around a Sale Event, benefits increase to 18 months of salary, target bonus payment, accelerated equity vesting, and 18 months of COBRA coverage.The agreement includes standard intellectual property assignment provisions and non-solicitation terms. All severance payments are contingent upon executing a general release of claims, maintaining Brenner's "at will" employment status.