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

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
ETRM > SEC Filings for ETRM > Form 8-K on 24-Jan-2013All Recent SEC Filings

Show all filings for ENTEROMEDICS INC | Request a Trial to NEW EDGAR Online Pro

Form 8-K for ENTEROMEDICS INC


24-Jan-2013

Other Events, Financial Statements and Exhibits


Item 8.01 Other Events.

On December 20, 2012, EnteroMedics Inc. (the "Company") entered into an Amendment, effective October 1, 2012 (the "Amendment"), to the Consulting Agreement (the "Consulting Agreement"), effective June 1, 2011, with Anthony P. Jansz, a member of the Company's Board of Directors. Pursuant to the Amendment, during the period from October 1, 2012 until June 30, 2013, Mr. Jansz agreed to commit additional time to performing consulting services for the Company's management pursuant to the Consulting Agreement. In exchange for these additional services, Mr. Jansz is entitled to receive (i) a consulting fee of $12,000 AUD per month from October 1, 2012 until June 30, 2013, and (ii) a non-qualified stock option to purchase 75,000 shares of the Company's common stock, which vests as follows: (A) 16,667 of such 75,000 shares vested on January 22, 2013, the date of grant; (B) 16,667 of such 75,000 shares will vest on January 22, 2014; (C) 16,666 of such 75,000 shares will vest on January 22, 2015; and (D) the remaining 25,000 of such 75,000 shares will vest upon the occurrence of both (i) the Company successfully obtaining full Australian reimbursement approval for both surgeon's fees and hospital fees for the VBLOC® vagal blocking therapy and the Maestro® Rechargeable System from the Australian Medical Services Advisory Committee prior to June 30, 2014 and (ii) the Company successfully obtaining device listing for the Maestro® Rechargeable System on the Australian Prostheses List prior to June 30, 2014. In the event of a change in control of the Company prior to June 30, 2014, 100% of any unvested portion of the 25,000 shares described in (D) above shall vest immediately prior to the consummation of such change in control. In no event shall any unvested portion of the 25,000 shares described in (D) above vest after June 30, 2014. The stock option was granted pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan and has a four-year term and an exercise price equal to $2.65 (the closing price of the Company's stock on the Nasdaq Capital Market on the date the grant was approved by the Board of Directors). The Board of Directors approved the stock option grant on January 22, 2013. The description of the Amendment in this Current Report on Form 8-K is qualified in its entirety by reference to the copy of the Amendment attached hereto as Exhibit 10.1 and incorporated herein by reference.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.     Description

10.1            Amendment to Consulting Agreement, effective October 1, 2012, by
                and between EnteroMedics Inc. and Anthony Jansz.


  Add ETRM to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for ETRM - All Recent SEC Filings
Sign Up for a Free Trial to the NEW EDGAR Online Pro
Detailed SEC, Financial, Ownership and Offering Data on over 12,000 U.S. Public Companies.
Actionable and easy-to-use with searching, alerting, downloading and more.
Request a Trial      Sign Up Now


Copyright © 2013 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.