December 30, 2025
David-Alexandre Gros
Re: Voluntary Cancellation of Certain Option Grants
Dear David-Alexandre Gros,
Eledon Pharmaceuticals, Inc. (the “Company”) has granted you an award or multiple awards of stock options under one of the Company’s long-term equity incentive plans. You have volunteered to forfeit for no consideration the stock option awards listed in the table below (the “Forfeited Options”):
Option Grant Number |
Option Grant Date |
Option Expiration Date |
Option Exercise Price |
Option Vested or Unvested |
Performance or Time-Based Option |
Total Number of Options Being Forfeited |
374 |
9/9/2020 |
9/8/2030 |
$9.00 |
1,015,452 |
Time-Based |
1,015,452 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
You hereby agree that you are voluntary forfeiting the Forfeited Options in exchange for your continued employment or service with the Company, and that the Forfeited Options are not (1) being canceled, exchanged, or surrendered in exchange for cash or other awards for the purpose of repricing the Forfeited Options, or (2) being canceled, exchanged, or surrendered for a new option or SAR award with an exercise or base price that is less than the exercise or base price of the Forfeited Options.
Except for the Forfeited Options, all of your other outstanding stock options granted by the Company shall remain outstanding in accordance with their terms
This agreement may be executed in several counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument. This agreement shall become binding when one or more counterparts hereof, individually or taken together, shall bear the signatures of all of the parties reflected hereon as the signatories. Photographic copies of such signed counterparts may be used in lieu of the originals for any purpose.
***