​Ambrx (AMAM) Announces COO Resignation

On March 8, 2024, Andrew Aromando, the Company's Chief Operating Officer, resigned and ceased to be an officer of ​Ambrx (NASDAQ: AMAM). In connection with such cessation of employment, Mr. Aromando is entitled to the severance payments and benefits provided in connection with a Change of Control Termination (as defined in, and subject to the terms and conditions of, Section 7(b) of the Amended and Restated Executive Employment Agreement, dated as of October 11, 2023, between Mr. Aromando and the Company, a copy of which is attached as Exhibit 10.3 to the Company’s Quarterly Report on Form 10‑Q filed with the SEC on November 13, 2023 and the terms of which are incorporated herein by reference). In addition, and on account of such termination of employment, Mr. Aromando will be entitled to the accelerated vesting and payment of his restricted cash award from the Company, in the gross amount of $2,100,000.

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