KALA BIO Inc. filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 10, 2025, KALA BIO, Inc. (the “Company”) entered into retention agreements (each, a “Retention Agreement”) with a number of its employees, including Todd Bazemore, the Company’s Interim Chief Executive Officer, President and Chief Operating Officer, Mary Reumuth, the Company’s Chief Financial Officer, and Kim Brazzell, Ph.D., the Company’s Head of Research and Development and Chief Medical Officer. Pursuant to the terms of their respective Retention Agreements, Mr. Bazemore, Ms. Reumuth and Dr. Brazzell are entitled to receive retention bonuses (each, a “Retention Bonus”) of $281,190, $234,000, and $260,000, respectively. Each of the Retention Agreements provides that if, prior to the earlier of (1) September 30, 2025 or (2) the public announcement of topline data from the Company’s CHASE clinical trial of KPI-012, such executive’s employment is terminated voluntarily by such executive or by the Company for cause (as defined in the applicable executive’s employment agreement), then, pursuant to the terms of the Retention Agreement, such executive shall, upon request, repay the gross amount of the Retention Bonus to the Company.
The foregoing description of the Retention Agreements is not complete and is qualified in its entirety to the full text of the Form of Retention Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| 10.1 | Form of Retention Agreement |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| KALA BIO, INC. | ||
| Date: April 11, 2025 | By: | /s/ Mary Reumuth |
| Mary Reumuth | ||
| Chief Financial Officer and Corporate Secretary | ||