0000921114
false
0000921114
2023-07-10
2023-07-10
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
July 10, 2023
ARMATA PHARMACEUTICALS, INC.
(Exact name of Registrant as specified in
its charter)
| Washington |
|
001-37544 |
|
91-1549568 |
(State or other jurisdiction
of incorporation or organization) |
|
(Commission File Number) |
|
(IRS Employer Identification No.) |
4503 Glencoe Avenue
Marina del Rey, California |
|
90292 |
| (Address of principal executive offices) |
|
(Zip Code) |
(310) 655-2928
(Registrant’s Telephone number)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the
registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or
Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act. ¨
Securities registered pursuant to Section 12(b) of
the Act:
| Title
of Each Class |
|
Trading
Symbol(s) |
|
Name
of Each Exchange on Which Registered |
| Common
Stock |
|
ARMP |
|
NYSE American |
| Item 5.02 |
Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On July 14, 2023, Armata Pharmaceuticals, Inc. (the “Company”)
and Dr. Brian Varnum, the Company’s former Chief Executive Officer, entered into a separation and release agreement (the “Separation
Agreement”).
Pursuant to the Separation Agreement, Dr. Varnum
is entitled to (i) continued payment of his base salary for twelve (12) months following the date on which his employment with
the Company terminated (which occurred on July 10, 2023) (the “Separation Date”) and (ii) subject to his timely election
of COBRA coverage and continued enrollment in the Company’s health plan, payment of his and his covered dependents’ monthly
COBRA premium cost for up to twelve (12) months following the Separation Date. Additionally, all unvested options held by Dr. Varnum
that would have vested had his employment continued through the first anniversary of the Separation Date will vest and become exercisable
on the first anniversary of the Separation Date and Dr. Varnum will have until September 30, 2024 (or the expiration date of the
applicable option if earlier) to exercise any vested options. Dr. Varnum’s receipt of the foregoing payments and benefits is
subject to his compliance with the Separation Agreement, including, without limitation, continued compliance with his existing restrictive
covenants and the non-disparagement covenant set forth in the Separation Agreement.
The foregoing description of the Separation Agreement is qualified
in its entirety by reference to the complete text of the Separation Agreement, which is filed as Exhibit 10.1 to this Current Report
on Form 8-K and incorporated by reference herein.
| Item 9.01 |
Financial Statements and Exhibits. |
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.
| Date: July 19, 2023 |
Armata Pharmaceuticals, Inc. |
| |
|
| |
By: |
/s/ Julianne Averill |
| |
Name: |
Julianne Averill |
| |
Title: |
Chief Financial Officer |
Exhibit 10.1
Execution Version
SEPARATION AND RELEASE AGREEMENT
This Separation and Release
Agreement (this “Agreement”), delivered July 10, 2023, confirms the following understandings and agreements
between Armata Pharmaceuticals, Inc. (the “Company”) and Brian Varnum (hereinafter referred to as “you”
or “your”).
In consideration of the promises
set forth herein, you and the Company agree as follows:
1.
Opportunity for Review; Acceptance.
(a)
You have until July 31, 2023 (the “Review Period”), to review and consider this Agreement. To accept
this Agreement, and the terms and conditions contained herein, prior to the expiration of the Review Period, you must execute and date
this Agreement where indicated below and return the executed copy of this Agreement to Kelly B. Holloway (the “Company
Representative”), by email (kholloway@willkie.com). You acknowledge that, to the extent there are changes made to the terms
of this Agreement, whether they are material or immaterial, the Review Period is not recommenced.
(b)
Notwithstanding anything contained herein to the contrary, this Agreement will not become effective or enforceable for a period
of seven (7) calendar days following the date of your execution of this Agreement (the “Revocation Period”),
during which time you may revoke your acceptance of this Agreement by notifying the Company Representative, in writing, as specified above.
To be effective, such revocation must be received by the Company Representative no later than 5:00 p.m. Pacific Time on the seventh (7th)
calendar day following your execution of this Agreement. Provided that this Agreement is executed during the Review Period, and you do
not revoke it during the Revocation Period, the eighth (8th) day following the date on which this Agreement is executed and
delivered to the Company shall be its effective date (the “Effective Date”). In the event that you fail
to execute and deliver this Agreement prior to the expiration of the Review Period, this Agreement will be null and void and of no effect,
and neither the Company nor any other member of the Company Group (as defined below) will have any obligations hereunder. In the event
that you revoke this Agreement during the Revocation Period, this Agreement will be null and void and of no effect, and the Company will
have no obligations hereunder.
2.
Employment Status; Accrued Benefits; Separation Benefits.
(a)
Employment Status. You acknowledge and agree that your employment with the Company and its direct and indirect parent(s),
subsidiaries, and affiliates (collectively, with the Company, the “Company Group”) terminated effective
as of the close of business on July 10, 2023 (the “Separation Date”), and after the Separation Date, you
will not represent yourself as being an employee, officer, agent, or representative of the Company or any other member of the Company
Group. You hereby confirm your resignations from all offices, directorships, trusteeships, committee memberships and fiduciary and other
capacities held with, or on behalf of, the Company Group (including, without limitation, as a member of the Company’s board of directors)
effective as of the Separation Date and your execution of this Agreement will be deemed the grant by you to the officers of the Company
of a limited power of attorney to sign in your name and on your behalf any such documentation as may be required to be executed solely
for the limited purposes of effectuating such resignations. You agree that within five (5) business days following the Separation Date,
you will update your accounts or profiles on any social media platform (including, but not limited to, Facebook, Twitter or LinkedIn)
to reflect that you are no longer actively employed by or affiliated with the Company.
(b)
Accrued Benefits. The Separation Date shall be the termination date of your employment for purposes of participation in
and coverage under all employee benefit plans and programs or arrangements sponsored by or through the Company and any other member of
the Company Group, except as otherwise provided herein. You will be paid for (i) all of your earned but unpaid salary through the
Separation Date on or prior to the Company’s next regularly scheduled payroll date on or following the Separation Date, or earlier
to the extent otherwise required by applicable law, (ii) your accrued but unused vacation as of the Separation Date to the extent
required by the Company’s policies, and (iii) any business expenses incurred prior to the Separation Date and properly submitted
in accordance with the Company’s policies and procedures within ten (10) days following the Separation Date. In addition, thereafter
you will be entitled to continued medical and health benefits under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”),
and additional information concerning such benefits will be provided to you under separate cover following the Separation Date.
(c)
Separation Benefits. In consideration of your release and waiver of claims set forth in paragraph 3
below, and subject to your execution, delivery and non-revocation of this Agreement and continued compliance with this Agreement, including
but not limited to paragraph 10 hereof, the Company will provide you with the following separation payments and
benefits (collectively, the “Consideration”):
(1)
Salary Continuation. Continued payment of your annual base salary for a period of twelve (12) months following the Separation
Date (the “Severance Period”) in accordance with the Company’s regular payroll practices, except that
no payments will be made prior to the thirtieth (30th) day following the Separation Date and, on the first regularly scheduled
payroll date of the Company that is at least thirty (30) days following the Separation Date, the Company will pay you in a lump sum the
amount of the Severance Pay that you would have received on or prior to such date under the original payment schedule but for the delay
while waiting for the thirtieth (30th) day, with the balance of the Severance Pay being paid as originally scheduled;
(2)
COBRA Premiums. Subject to your timely election of COBRA continuation coverage and continuation of your enrollment under
the Company’s group health insurance plan, on the first regularly scheduled payroll date of each month of the Severance Period,
the Company will pay, directly to or on your behalf, an amount equal to the monthly COBRA premium cost for you and your covered dependents
under such plan; provided, that the payments pursuant to this clause (2) shall cease earlier than the expiration of the Severance
Term in the event that Executive becomes eligible to receive any health benefits, including through a spouse’s employer, during
the Severance Period (which such eligibility shall be promptly reported by you to the Company); and
(3)
Equity Awards. Notwithstanding anything in the Company’s 2016 Equity Incentive Plan (the “Equity Plan”)
or any applicable Award Agreement (as defined in the Equity Plan) to the contrary, (x) all unvested Options (as defined in the Equity
Plan) held by you that would have vested had your employment continued through the first anniversary of the Separation Date (the “Unvested
Options”) will remain outstanding and will vest and become exercisable on the first anniversary of the Separation Date subject
to your continued compliance with this Agreement, including but not limited to paragraph 10 hereof through such
date, and (y) the expiration date of any vested Options held by you as of the Separation Date and the Unvested Options will be extended
until the earliest to occur of (i) September 30, 2024, (ii) the expiration date as set forth in the applicable Award Agreement
governing such Options (without taking into account a termination of employment), and (iii) the date on which you breach any of your
obligations pursuant to this Agreement, including but not limited to paragraph 10 hereof,
(d)
Deferral of Payments. Notwithstanding the foregoing, in the event that any amount would otherwise have been payable as a
result of subparagraph (c) above prior to the Effective Date, such amount shall not be paid until the first regular payroll
date following the Effective Date.
(e)
Full Discharge. You acknowledge and agree that the payment(s) and other benefits provided pursuant to this paragraph 2
are in full discharge of any and all liabilities and obligations of the Company or any other member of the Company Group to you, monetarily
or with respect to employee benefits or otherwise, including but not limited to any and all obligations arising under that
certain employment agreement by and between you and the Company dated as of August 1, 2021, any other alleged written or oral employment
agreement, policy, plan or procedure of the Company or any other member of the Company Group and/or any alleged understanding or arrangement
between you and the Company or any other member of the Company Group (other than claims for accrued and vested benefits under an employee
benefit, insurance, or pension plan of the Company or any other member of the Company Group (excluding any severance or similar plan or
policy), subject to the terms and conditions of such plan(s)).
(f)
Taxes. Amounts provided hereunder, including without limitation the Consideration, are subject to withholding for all applicable
taxes, including but not limited to income, employment, and social insurance taxes, as shall be required by law.
3.
Release and Waiver of Claims.
(a)
As used in this Agreement, the term “claims” will include all claims, covenants, warranties, promises, undertakings,
actions, suits, causes of action, obligations, debts, accounts, attorneys’ fees, judgments, losses and liabilities, of whatsoever
kind or nature, in law, equity or otherwise.
(b)
For and in consideration of the payments and benefits described in paragraph 2 above, and other good and
valuable consideration, you, for and on behalf of yourself and your heirs, administrators, executors and assigns, as of the date hereof,
do fully and forever release, remise and discharge each member of the Company Group and their successors and assigns, together with their
respective officers, directors, partners, members, stockholders (including any management company of a stockholder), employees and agents
(collectively, and with the Company, the “Company Parties”) from any and all claims whatsoever up to the
date hereof which you had, may have had, or now have against the Company Parties, whether known or unknown, for or by reason of any matter,
cause or thing whatsoever, including any claim arising out of or attributable to your employment or the termination of your employment
with the Company or any member of the Company Group, whether for tort, breach of express or implied employment contract, intentional infliction
of emotional distress, wrongful termination, unjust dismissal, defamation, libel or slander, or under any federal, state or local law
dealing with discrimination based on age, race, sex, national origin, handicap, religion, disability or sexual orientation. This release
of claims includes, but is not limited to, all claims arising under the Age Discrimination in Employment Act (the “ADEA”),
Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act, the Civil Rights Act of 1991, the Family and Medical Leave
Act, the Equal Pay Act, the Worker Adjustment and Retraining Notification Act, the Employee Retirement Income Security Act (excluding
claims for accrued, vested benefits under an employee pension benefit plan of the Company Parties), the California Fair Employment and
Housing Act, and the California Family Rights Act, each as may be amended from time to time, and all other federal, state and local laws,
the common law and any other purported restriction on an employer’s right to terminate the employment of employees. You intend the
release contained herein to be a general release of any and all claims to the fullest extent permissible by law and for the provisions
regarding the release of claims against the Company Parties to be construed as broadly as possible, and hereby incorporate in this release
similar federal, state or other laws, all of which you also hereby expressly waive.
(c)
You understand and agree that claims or facts in addition to or different from those which are now known or believed by you to
exist may hereafter be discovered, but it is your intention to fully and forever release, remise and discharge all claims which you had,
may have had, or now have against the Company Parties, whether known or unknown, suspected or unsuspected, asserted or unasserted, contingent
or noncontingent, without regard to the subsequent discovery or existence of such additional or different facts. Without limiting the
foregoing, by signing this Agreement, you expressly waive and release any provision of law that purports to limit the scope of a general
release, including any and all rights and benefits under Section 1542 of the Civil Code of the State of California (or any analogous
law of any other state, to the extent applicable), which provides as follows:
“A GENERAL RELEASE DOES NOT EXTEND TO
CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE,
AND THAT IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.”
(d)
You acknowledge and agree that as of the date you execute this Agreement, you have no knowledge of any facts or circumstances that
give rise or could give rise to any claims under any of the laws listed in the preceding paragraphs.
(e)
Notwithstanding any provision of this Agreement to the contrary, by executing this Agreement, you are not releasing any claims
relating to: (i) your rights with respect to payment of amounts under this Agreement, (ii) your right to accrued, vested benefits
due to terminated employees under any employee benefit plan of the Company or any other member of the Company Group in which you participated
(excluding any severance or similar plan or policy), in accordance with the terms thereof (including your right to elect COBRA continuation
coverage), (iii) any claims that cannot be waived by law or that arise after the date on which you execute this Agreement; (iv) your
right to indemnification, advancement and reimbursement of legal fees and expenses, and directors and officers liability insurance, as
provided by, and in accordance with the terms of, applicable law, the Company’s by-laws or otherwise; or (v) any rights or
claims under the ADEA that may arise after the date that you execute this Agreement.
(f)
You acknowledge and agree that, by virtue of the foregoing, you have waived any relief available to you (including without limitation,
monetary damages, equitable relief and reinstatement) under any of the claims and/or causes of action waived in this paragraph 3.
Therefore you agree that you will not accept any award or settlement from any source or proceeding (including but not limited to any proceeding
brought by any other person or by any government agency) with respect to any claim or right waived in this Agreement.
(g)
You acknowledge and agree that as of the date of this Agreement, you have reported all accidents, injuries or illnesses relating
to or arising from your employment with the Company or the Company Group and that you have not suffered any on-the-job injury or illness
for which you have not yet filed a claim.
4.
Knowing and Voluntary Waiver. You expressly acknowledge and agree that you:
(a)
are able to read the language, and understand the meaning and effect, of this Agreement;
(b) have no physical or mental impairment of any kind that has interfered with your ability to read and understand the meaning of this
Agreement or its terms, and that you are not acting under the influence of any medication, drug or chemical of any type in entering into
this Agreement;
(c)
are specifically agreeing to the terms of the release contained in this Agreement because the Company has agreed to provide you
the Consideration, which the Company has agreed to provide because of your agreement to accept it in full settlement of all possible claims
you might have or ever had, and because of your execution of this Agreement;
(d)
acknowledge that but for your execution of this Agreement, you would not be entitled to the Consideration;
(e)
had or could have the entire Review Period in which to review and consider this Agreement and that if you execute this Agreement
prior to the expiration of the Review Period, you have voluntarily and knowingly waived the remainder of the Review Period;
(f)
understand that, by entering into this Agreement, you do not waive rights or claims under the ADEA that may arise after the date
you execute this Agreement;
(g)
have not relied upon any representation or statement not set forth in this Agreement made by the Company Group or any of its representatives;
(h)
were advised to consult with your attorney regarding the terms and effect of this Agreement; and
(i)
have signed this Agreement knowingly and voluntarily.
5.
No Suit. You represent and warrant that you have not previously filed, and to the maximum extent permitted by law agree that you
will not file, a complaint, charge or lawsuit against any of the Company Parties regarding any of the claims released herein. If, notwithstanding
this representation and warranty, you have filed or file such a complaint, charge or lawsuit, you agree that you shall cause such complaint,
charge or lawsuit to be dismissed with prejudice and shall pay any and all costs required in obtaining dismissal of such complaint, charge
or lawsuit, including without limitation the attorneys’ fees of any of the Company Parties against whom you have filed such a complaint,
charge, or lawsuit. This paragraph 5 shall not apply, however, to any non-waivable right to file a charge with
the U.S. Equal Employment Opportunity Commission (the “EEOC”) or similar state agency; provided,
however, that if the EEOC or similar state agency pursues any claims relating to your employment with the Company or any member
of the Company Group, you agree that you shall not be entitled to recover any monetary damages or any other remedies or benefits as a
result and that this Agreement and the Consideration will control as the exclusive remedy and full settlement of all such claims by you.
6.
Successors and Assigns. The provisions hereof shall inure to the benefit of your heirs, executors, administrators, legal
personal representatives and assigns and shall be binding upon your heirs, executors, administrators, legal personal representatives and
assigns.
7.
Severability; Third-Party Beneficiaries. If any provision of this Agreement shall be held by any court of competent jurisdiction
to be illegal, void or unenforceable, such provision shall be of no force and effect. The illegality or unenforceability of such provision,
however, shall have no effect upon and shall not impair the enforceability of any other provision of this Agreement. You acknowledge and
agree that each of the Company Parties shall be a third-party beneficiary of the releases set forth in paragraph 3 above,
with full rights to enforce this Agreement and the matters documented herein.
8.
Non-Disparagement. You agree that you will make no disparaging or defamatory comments regarding any member of the Company
Group or their respective current or former directors, officers, employees, members, stockholders (including any management company of
a stockholder), or affiliates in any respect or make any comments concerning any aspect of your relationship with any member of the Company
Group or the conduct or events which precipitated your termination of employment from any member of the Company Group. Your obligations
under this paragraph 8 extend to, but are not limited to, text messages, e-mail communications, and comments or postings
on blogs, comment boards or social media websites including, but not limited to, Facebook, Twitter or LinkedIn. Further, nothing in this
Agreement prohibits you from speaking with law enforcement, the Equal Employment Opportunity Commission, any state or local division of
human rights or fair employment agency, or your attorney. This paragraph 8 shall not prevent the truthful testimony by
any individual or entity in a legal proceeding or pursuant to a governmental, administrative or regulatory investigation.
9.
Cooperation.
(a)
You agree that you will provide reasonable cooperation to the Company and/or any other member of the Company Group and its or their
respective counsel in connection with any investigation, administrative proceeding or litigation relating to any matter that occurred
during your employment in which you were involved or of which you have knowledge. The Company agrees to reimburse you for reasonable out-of-pocket
expenses incurred at the request of the Company with respect to your compliance with this paragraph 9(a).
(b)
You agree that, in the event you are subpoenaed by any person or entity (including, but not limited to, any government agency)
to give testimony or provide documents (in a deposition, court proceeding or otherwise) which in any way relates to your employment by
the Company and/or any other member of the Company Group, you will give prompt written notice of such request to the Chief Executive Officer
of the Company, in writing and will make no disclosure until the Company and/or the other member of the Company Group has had a reasonable
opportunity to contest the right of the requesting person or entity to such disclosure. The Company agrees to reimburse you for reasonable
out-of-pocket expenses incurred at the request of the Company with respect to your compliance with this paragraph 9(b).
10. Affirmation of Continuing Obligations. You hereby acknowledge and agree that the execution of this Agreement does not alter your
obligations to any member of the Company Group under any confidentiality, non-solicit, invention assignment, or similar agreement or arrangement
to which you are a party with any member of the Company Group (the “Continuing Obligations”), which obligations
are hereby incorporated into this Agreement and shall survive the termination of your employment with the Company, and you hereby acknowledge,
reaffirm and ratify your continuing obligations to the Company Group pursuant to such agreements or arrangements. You further hereby acknowledge
that your continued compliance with these obligations is a condition of your receiving the Consideration described in paragraph 2
above and upon any breach of the Continuing Obligations, the Company shall be entitled to an immediate refund of any Consideration already
received by you.
11. Confidentiality. The terms and conditions of this Agreement are and shall be deemed to be confidential, and shall not be
disclosed by you to any person or entity without the prior written consent of the Company, except if required by law, and to your accountants,
attorneys and/or immediate family, provided that, to the maximum extent permitted by applicable law, rule, code or regulation, they agree
to maintain the confidentiality of this Agreement.
12. Return of Property. You agree that you will promptly return to the Company, and you will retain no copies of, all property
belonging to the Company and/or any other member of the Company Group, including but not limited to all proprietary and/or confidential
information and documents (including any copies thereof) in any form belonging to the Company, cell phone, Blackberry, iPhone or other
mobile device, keys, credit card, identification card or badge, access card, employee handbook, laptop, computer or other office equipment,
computer user name and password, disks, data files, thumb drives, and/or voicemail code. If you discover after the Separation Date that
you have retained any proprietary and/or confidential information (including, without limitation, proprietary and/or confidential information
contained in any electronic documents or email systems in your possession or control), you agree immediately upon discovery to send an
email to the Chief Executive Officer of the Company to inform the Company of the nature and location of the proprietary and/or confidential
information that you have retained so that the Company may arrange to remove, recover, and/or collect such information. You further acknowledge
and agree that the Company shall have no obligation to provide the Consideration described in paragraph 2 above unless
and until you have satisfied all your obligations pursuant to this paragraph 12.
13.
Non-Admission. Nothing contained in this Agreement will be deemed or construed as an admission of wrongdoing or liability
on the part of you or any member of the Company Group. Accordingly, this Agreement may not be admissible in any forum as an admission,
but only in an action to enforce it.
14.
Entire Agreement. This Agreement and the Continuing Obligations constitute the entire understanding and agreement of the
parties hereto regarding the termination of your employment. This Agreement and the Continuing Obligations supersede all prior negotiations,
discussions, correspondence, communications, understandings and agreements between the parties relating to the subject matter of this
Agreement and the Continuing Obligations .
15.
Attorneys’ Fees and Costs. You hereby acknowledge and agree that the Company Parties are entitled to recover from you all
reasonable attorneys’ fees and costs associated with their efforts to enforce this Agreement or the Continuing Obligations and/or
to recover damages for a breach of this Agreement or the Continuing Obligations by you, and/or which are incurred by the Company Parties
as a result of a breach of this Agreement or the Continuing Obligations by you.
16.
Governing Law; Jurisdiction; Arbitration. THIS AGREEMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH FEDERAL LAW AND THE LAWS OF THE STATE OF CALIFORNIA, APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED IN
THAT STATE, WITHOUT REGARD TO CONFLICT OF LAWS RULES. BY EXECUTION OF THIS AGREEMENT, EACH PARTY TO THIS AGREEMENT HEREBY CONSENTS TO
THE EXCLUSIVE JURISDICTION OF THE STATE AND FEDERAL COURTS LOCATED IN THE STATE OF CALIFORNIA AND HEREBY WAIVES ANY RIGHT TO TRIAL BY
JURY IN CONNECTION WITH ANY DISPUTE ARISING UNDER OR CONCERNING THIS AGREEMENT. ALL DISPUTES ARISING UNDER OR CONCERNING THIS AGREEMENT,
AS WELL AS ALL CLAIMS ARISING OUT OF YOUR EMPLOYMENT OR TERMINATION THEREOF, INCLUDING WITHOUT LIMITATION ALL CLAIMS FOR PAYMENT OF WAGES,
DISCRIMINATION, RETALIATION, AND ALL OTHER CLAIMS BASED ON ANY STATE, FEDERAL OR COMMON LAW WILL BE RESOLVED THROUGH BINDING ARBITRATION
BEFORE A SINGLE ARBITRATOR. THE ARBITRATION SHALL BE ADMINISTERED BY JAMS, UNDER ITS THEN APPLICABLE RULES FOR EMPLOYMENT DISPUTES. IF
JAMS CANNOT SERVE AS THE ARBITRATION ADMINISTRATOR, THEN THE ARBITRATION WILL BE THROUGH THE AMERICAN ARBITRATION ASSOCIATION, UNDER ITS
THEN APPLICABLE RULES FOR EMPLOYMENT DISPUTES. THE EXCLUSIVE VENUE OF ANY SUCH ARBITRATION WILL BE Los angeles, california. THE NON-PREVAILING
PARTY WILL PAY THE REASONABLE ATTORNEYS’ FEES AND COSTS OF THE PREVAILING PARTY. THE ARBITRATOR SHALL HAVE AUTHORITY TO ISSUE EQUITABLE
AND LEGAL RELIEF, INCLUDING WITHOUT LIMITATION INJUNCTIVE RELIEF AND MONETARY DAMAGES. ALL ARBITRATION PROCEEDINGS SHALL BE CONFIDENTIAL.
17.
Construction. The section or paragraph headings or titles herein are for convenience of reference only and shall not be
deemed a part of this Agreement. The parties hereto acknowledge and agree that each party has reviewed and negotiated the terms and provisions
of this Agreement and has had the opportunity to contribute to its revision. Accordingly, the rule of construction to the effect that
ambiguities are resolved against the drafting party, including, but not limited to Section 1654 of the California Civil Code, shall
not be employed in the interpretation of this Agreement. Rather, the terms of this Agreement shall be construed in a reasonable manner
to effect the intentions of both parties hereto and not in favor or against either party.
18.
Section 409A. Payments under this Agreement are intended to be exempt from, or comply with, Section 409A of the Internal
Revenue Code of 1986, as amended (“Section 409A”), and this Agreement will be interpreted to achieve this
result. For purposes of this Agreement, each payment in a series of payments hereunder shall be deemed to be a separate payment for purposes
of Section 409A. In no event is the Company responsible for any tax or penalty owed by you (other than for withholding obligations
or other obligations applicable to employers, if any, under Section 409A) with respect to payments under this Agreement.
19.
Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which shall
constitute one and the same instrument, and electronically delivered copies of executed counterparts shall be deemed to be originals for
all purposes.
* * *
IN WITNESS WHEREOF, the parties
hereto have executed this Agreement as of the date set forth below.
| |
ARMATA PHARMACEUTICALS, INC. |
| |
|
|
| |
By: |
/s/ Robin C. Kramer |
| |
|
Robin C. Kramer |
| |
|
Chair, Board of Directors |
| |
|
| |
EMPLOYEE |
| |
|
| |
/s/ Brian Varnum |
| |
BRIAN VARNUM, Ph.D |
| |
|
| |
Dated: July 14, 2023 |
[Signature Page to Brian Varnum Separation
Agreement]
v3.23.2
| X |
- DefinitionBoolean flag that is true when the XBRL content amends previously-filed or accepted submission.
| Name: |
dei_AmendmentFlag |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionFor the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
| Name: |
dei_DocumentPeriodEndDate |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:dateItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
| Name: |
dei_DocumentType |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:submissionTypeItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionAddress Line 1 such as Attn, Building Name, Street Name
| Name: |
dei_EntityAddressAddressLine1 |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:normalizedStringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- Definition
+ References
+ Details
| Name: |
dei_EntityAddressCityOrTown |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:normalizedStringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionCode for the postal or zip code
| Name: |
dei_EntityAddressPostalZipCode |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:normalizedStringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionName of the state or province.
| Name: |
dei_EntityAddressStateOrProvince |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:stateOrProvinceItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionA unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
| Name: |
dei_EntityCentralIndexKey |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:centralIndexKeyItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionIndicate if registrant meets the emerging growth company criteria. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
| Name: |
dei_EntityEmergingGrowthCompany |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionCommission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
| Name: |
dei_EntityFileNumber |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:fileNumberItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionTwo-character EDGAR code representing the state or country of incorporation.
| Name: |
dei_EntityIncorporationStateCountryCode |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:edgarStateCountryItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
| Name: |
dei_EntityRegistrantName |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:normalizedStringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionThe Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
| Name: |
dei_EntityTaxIdentificationNumber |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:employerIdItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionLocal phone number for entity.
| Name: |
dei_LocalPhoneNumber |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:normalizedStringItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 13e
-Subsection 4c
| Name: |
dei_PreCommencementIssuerTenderOffer |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14d
-Subsection 2b
| Name: |
dei_PreCommencementTenderOffer |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionTitle of a 12(b) registered security. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b
| Name: |
dei_Security12bTitle |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:securityTitleItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionName of the Exchange on which a security is registered. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection d1-1
| Name: |
dei_SecurityExchangeName |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:edgarExchangeCodeItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Section 14a
-Number 240
-Subsection 12
| Name: |
dei_SolicitingMaterial |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionTrading symbol of an instrument as listed on an exchange.
| Name: |
dei_TradingSymbol |
| Namespace Prefix: |
dei_ |
| Data Type: |
dei:tradingSymbolItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
| X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act. Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Securities Act
-Number 230
-Section 425
| Name: |
dei_WrittenCommunications |
| Namespace Prefix: |
dei_ |
| Data Type: |
xbrli:booleanItemType |
| Balance Type: |
na |
| Period Type: |
duration |
|
Armata Pharmaceuticals (AMEX:ARMP)
Historical Stock Chart
From Mar 2024 to Apr 2024
Armata Pharmaceuticals (AMEX:ARMP)
Historical Stock Chart
From Apr 2023 to Apr 2024
