Search the web
Welcome, Guest
[Sign Out, My Account]
EDGAR_Online

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
POZN > SEC Filings for POZN > Form 8-K on 1-Nov-2012All Recent SEC Filings

Show all filings for POZEN INC /NC

Form 8-K for POZEN INC /NC


1-Nov-2012

Entry into a Material Definitive Agreement


Item 5.02 Entry into a Material Definitive Agreement.

On November 1, 2012, POZEN, Inc., a Delaware corporation ("POZEN" or "the Company") and Dr. Tomas Bocanegra, Executive Vice President, Development of the Company, entered into a Severance Agreement (the "Agreement") in connection with Dr. Bocanegra's retirement from POZEN on October 31, 2012. In connection with entering into the Agreement, effective November 1, 2012, the Executive Employment Agreement, dated as of July 5, 2011, by and between the Company and Dr. Bocanegra, has been terminated. The material terms of the Agreement are as follows:

The Company will pay Dr. Bocanegra a total of $147,412 (less applicable withholdings), payable in nine (9) bimonthly installments of $16,379.16 (less applicable withholdings) each, beginning on November 15, 2012 and ending on March 15, 2013.

The Company shall pay Dr. Bocanegra a total of $219,829.24 (less applicable withholdings) as a 2012 bonus payment, payable in a lump sum on the first regularly scheduled payroll date in March 2013.

Dr. Bocanegra has waived and released any and all claims against the Company.

POZEN anticipates an orderly transition of Dr. Bocanegra's responsibilities to other key POZEN employees in the near term.


  Add POZN to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for POZN - All Recent SEC Filings
Copyright © 2014 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.