Valion Bio, Inc. (VBIO): Other Melinda Lackey mutual agreement

Events in this filing

Item 5.02 as filed

Item 5.02(e)
On October 31, 2026, the Company entered into
a Separation Agreement and General Release (the “Separation Agreement”) with Melinda Lackey.
Under the Separation Agreement, subject to Ms.
Lackey’s compliance with its terms and the satisfaction of the conditions set forth therein, the Company agreed to pay Ms. Lackey
a gross cash severance payment of $26,750, less applicable taxes and withholdings, in a single lump-sum payment no later than 30 days
following the effective date of the Separation Agreement.
In addition, if Ms. Lackey is eligible for and
properly elects continued medical or dental coverage under COBRA, the Company agreed to pay the applicable COBRA premiums for Ms. Lackey
and her covered dependents until the earlier of November 30, 2026 or the date on which she becomes eligible for healthcare coverage under
a subsequent employer’s health plan.
The Separation Agreement also provides for a general
release of claims by Ms. Lackey in favor of the Company and certain related parties and includes customary confidentiality, non-disparagement,
cooperation, return-of-property and other continuing obligations. Ms. Lackey agreed to forfeit any unvested equity awards and may exercise
any vested stock options only in accordance with the applicable equity plan documents.
The foregoing description of the Separation Agreement does not purport
to be complete and is qualified in its entirety by reference to the full text of the Separation Agreement, which is filed as Exhibit 10.1
to this Current Report on Form 8-K and incorporated herein by reference.
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