Brief: Yield10 Bioscience Exec Officers To Receive Payment Of Amount Of Salaries That Was Retained Pursuant To Amendments

Yield10 Bioscience

06/12/2023 21:17

Dec 6 (Reuters) - Yield10 Bioscience Inc  YTEN.O :
    * YIELD10 BIOSCIENCE INC - ON NOVEMBER 30, APPROVED FULL OR
PARTIAL FURLOUGH OF APPROXIMATELY 65% OF ITS WORKFORCE
    * YIELD10 BIOSCIENCE INC - MOST FURLOUGH WORKFORCE ARE
LOCATED IN
COMPANY'S U.S. FACILITY
    * YIELD10 BIOSCIENCE INC - FURLOUGHS WILL CONTINUE UNTIL
SUCH TIME
AS COMPANY IS ABLE TO RAISE ADDITIONAL FUNDING
    * YIELD10 BIOSCIENCE INC - IN CONNECTION WITH FURLOUGHS,
COMPANY
DOES NOT ESTIMATE THAT IT WILL INCUR SIGNIFICANT RESTRUCTURING
CHARGES
    * YIELD10 BIOSCIENCE INC - DURING FURLOUGHS, FURLOUGHED
EMPLOYEES
TO CONTINUE TO RECEIVE EMPLOYMENT BENEFITS
    * YIELD10 BIOSCIENCE: APPROVED AMENDMENTS TO EMPLOYMENT
AGREEMENTS
OF CEO, PRINCIPAL FINANCIAL, ACCOUNTING OFFICER, TWO OTHER NAMED
EXECUTIVE OFFICERS
    * YIELD10 BIOSCIENCE INC - DURING FURLOUGHS, THOSE EMPLOYEES
WHO
CONTINUE TO WORK WILL RECEIVE REDUCTIONS IN COMPENSATION
    * YIELD10 BIOSCIENCE: AMENDMENTS TEMPORARILY REDUCE SALARY
OF EACH
OFFICER TO $684 PER WEEK UNTIL SUCH TIME AS CO ABLE TO RAISE
EXTRA FUNDING
    * YIELD10 BIOSCIENCE-IF ABLE TO RAISE ADDITIONAL FUNDING,
EXEC
OFFICERS TO RECEIVE PAYMENT OF AMOUNT OF SALARIES THAT WAS
RETAINED PURSUANT TO AMENDMENTS

Source text for Eikon:  ID: 
Further company coverage:  YTEN.O 

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