Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officer.
Separation Agreement
On April 25, 2023, Bellerophon Therapeutics, Inc. (the "Company") filed a
Current Report on Form 8-K to report Nicholas Laccona's notice of resignation as
Principal Financial and Accounting Officer and Secretary. On May 4, 2023, the
Company entered into a Separation Agreement (the "Separation Agreement") with
Mr. Laccona, pursuant to which Mr. Laccona and the Company agreed that Mr.
Laccona's employment with the Company will terminate on May 15, 2023 (the
"Separation Date"). The Separation Agreement provides, among other things, that
(i) the Company will pay Mr. Laccona a lump-sum payment in the amount of
$30,000, such amount representing the accrued amount of Mr. Laccona's 2022
bonus, and (ii) Mr. Laccona's option to purchase 50,000 shares of the Company's
common stock, par value $0.01 ("Common Stock"), pursuant to an option grant on
February 10, 2023, shall remain outstanding in accordance with the terms of the
Company's Amended and Restated 2015 Equity Incentive Plan until February 10,
2033 and will become exercisable for 12,500 shares of Common Stock on February
10, 2024, and the remaining 37,500 shares will be forfeited. The Separation
Agreement also includes a release and waiver by Mr. Laccona and other customary
provisions. In accordance with the Separation Agreement, Mr. Laccona was removed
as the Company's Principal Financial and Accounting Officer and Secretary as of
May 5, 2023.
The foregoing description of the Separation Agreement is not complete and is
qualified in its entirety by reference to the full text of the Separation
Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on
Form 8-K..
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits:
Exhibit No. Description
Separation Agreement, dated as of May 4, 2023, by and between
10.1+ Bellerophon Therapeutics, Inc. and Nicholas Laccona
104 Cover Page Interactive Data File (Formatted as Inline XBRL)
+ Management contract or compensatory plan or arrangement.
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BELLEROPHON THERAPEUTICS, INC. 
