Instil Bio (TIL) has released an update.
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Instil Bio, Inc. has signed retention bonus agreements with its CEO, Bronson Crouch, and CFO/Chief Business Officer, Sandeep Laumas, promising them bonuses of $462,825 and $254,300 respectively, if they stay with the company until February 12, 2025. If either executive is terminated without cause or resigns with valid reason before this date, they won’t have to repay the bonus. However, if they leave without a valid reason or are fired for cause before the retention date, they must repay a prorated portion of the bonus.
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