Lisata Therapeutics Inc. has announced an amendment to the employment agreement of its Chief Executive Officer, David J. Mazzo, Ph.D. Effective June 10, 2025, the amended agreement increases Dr. Mazzo's base salary from $633,032 to $717,229, while removing the previous non-accountable expense allowance of $12,000 annually. The updated agreement also includes changes to the definition of "Change in Control" and clarifies severance payment terms to ensure compliance with Section 409A of the Internal Revenue Code. These adjustments are part of the company's ongoing efforts to refine executive compensation structures.
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