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Gamida Cell Ltd (GMDA) has issued an update.
Gamida Cell Ltd. has revised the employment agreements with its executive officers, including the CEO, COO/CCO, General Counsel and Chief Compliance Officer, and Chief Medical and Scientific Officer, due to financial constraints. These executives agreed to reduce their severance payments and special bonuses linked to company performance or control changes. The new agreements specify terms for termination, notice periods, severance packages, and the treatment of equity awards in case of termination without cause or resignation for good reason. Additionally, special transaction bonus agreements have been terminated, and a retention bonus is introduced, subject to continuous employment through a set period.
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