Verona Pharma plc has announced amendments to its Employee Change in Control Severance Benefit Plan, which were approved by the company's Remuneration Committee. Effective immediately prior to the closing of its transaction agreement with Merck Sharp & Dohme LLC and Vol Holdings LLC, the changes include an extension of the severance benefit eligibility period following a change in control from twelve to twenty-four months. Additionally, the minimum severance period has been increased from three to six months. The definition of a "Qualifying Resignation" has also been revised to cover resignations after declining long-term employment offers, following reasonable knowledge transfer and administrative support. These adjustments are contingent upon the completion of the transaction and will be void if the agreement is terminated beforehand.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Verona Pharma plc published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001104659-25-088613), on September 09, 2025, and is solely responsible for the information contained therein.
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