Science 37 Holdings, Inc. appointed new CEO

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


As previously disclosed in the Current Report on Form 8-K of Science 37 Holdings, Inc. (the "Company") filed with the Securities and Exchange Commission on September 12, 2022, Michael Shipton was appointed as the Company's Chief Commercial Officer, succeeding Steve Geffon. In connection with the termination of Mr. Geffon's employment as Chief Commercial Officer, effective as of September 9, 2022 (the "Termination Date") and his transition to a role as a strategic advisor to the Company's Chief Executive Officer, Mr. Geffon entered into a Severance Agreement and General Release, dated September 26, 2022 (the "Severance Agreement"), with a subsidiary of the Company.


Pursuant to the terms of the Severance Agreement, Mr. Geffon is entitled to (i) continued payment of his base salary as severance pay for a period of six months following the Termination Date (the "Severance Period") payable in accordance with normal payroll practices, (ii) in exchange for Mr. Geffon's provision of consulting services to the Company until the first anniversary of the Termination Date, continued payment of base salary for a period of six months following the end of the Severance Period payable in six equal payments on the last day of each month, and (iii) Company-paid COBRA coverage for the Severance Period, and, contingent upon the fulfillment of certain initiatives by Mr. Geffon, Company-paid COBRA coverage for an additional six months following the Severance Period. Additionally, Mr. Geffon's previously awarded unvested equity awards shall continue to vest for a period of twelve months following the Termination Date. The Severance Agreement also provides for a customary general release of claims by Mr. Geffon. The Severance Agreement is subject to revocation on the part of Mr. Geffon no later than October 3, 2022.