Item 1.01. Entry into a Material Definitive Agreement.
On January 20, 2021, SIGA Technologies, Inc., a Delaware corporation (the
"Company"), entered into a Third Amended and Restated Employment Agreement (the
"Third Amended and Restated Abrams Employment Agreement") with its General
Counsel and Chief Administrative Officer, Robin E. Abrams. The Third Amended and
Restated Abrams Employment Agreement amends and restates the Company's Second
Amended and Restated Employment Agreement, dated August 1, 2018, with Ms. Abrams
(the "Prior Abrams Agreement"). A copy of the Prior Abrams Agreement was filed
with the Securities and Exchange Commission as an exhibit to the Company's
Current Report on Form 8-K dated August 2, 2018.
The Third Amended and Restated Abrams Employment Agreement amends the Prior
Abrams Agreement to provide for the term continuing through December 31, 2022,
subject to automatic annual renewals unless either party terminates on thirty
(30) days' notice in advance of such a renewal, increase Ms. Abrams' commitment
of her working time to the Company from 70% to at least 80%, provide for an
increase in her base salary to $619,544 per year to compensate for her
additional time, and make certain other technical and clarifying changes.
Otherwise, the material terms of the Third Amended and Restated Abrams
Employment Agreement are substantially unchanged from those of the Prior Abrams
Agreement. Ms. Abrams increased time commitment to the Company is currently
expected to provide additional support for the Company's U.S. and international
legal, regulatory and compliance efforts and is enabled by her transitioning
from serving as Vice President and General Counsel of vTv Therapeutics, Inc.
("vTv") to joining vTv's Board and serving as vTv's Executive Chairperson.
The foregoing description is qualified in its entirety by reference to the Third
Amended and Restated Abrams Employment Agreement, a copy of which is attached as
Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by
reference.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
The disclosure contained in Item 1.01 of this Current Report on Form 8-K is
hereby incorporated by reference into this Item 5.02.
Item 9.01. Financial Statements and Exhibits
(d) The following exhibits are included in this report:
Exhibit
No. Description
10.1 Third Amended and Restated Employment Agreement, dated January 20, 2021,
between SIGA Technologies, Inc. and Robin E. Abrams.
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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