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AVEO > SEC Filings for AVEO > Form 8-K on 26-Jun-2013All Recent SEC Filings




Change in Directors or Principal Officers

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

(e) On June 26, 2013, the compensation committee (the "Compensation Committee") of AVEO Pharmaceuticals, Inc. (the "Company"), in light of the recent restructuring of the Company, approved the grant of retention cash incentive and equity awards to its employees as a retention incentive (the "2013 Retention Grant"). The equity awards were made under the Company's Amended and Restated 2010 Stock Incentive Plan (the "2010 Incentive Plan"). Included in the 2013 Retention Grant were retention cash incentive and equity awards to certain of the Company's named executive officers, other than the Company's Chief Executive Officer, Tuan Ha-Ngoc, as set forth below:

                                                                     Number of
                                                                      Shares                        Number of
                                                                    of  Common                       Shares
                                                                       Stock                      of Milestone-
                                                                    Underlying                        Based
                                                                    Time-Based                     Restricted
                                Cash Incentive Award                  Options                         Stock
                                Granted in the 2013             Granted in the 2013            Granted in the 2013
Name                            Retention Grant (1)             Retention Grant (2)            Retention Grant (3)
David Johnston                 $               70,179                        120,000                         40,000
William Slichenmyer            $               77,971                        120,000                         40,000
Michael Bailey                 $               70,216                        120,000                         40,000

(1) These cash payments are to be made on October 1, 2014, provided that the applicable executive officer continues to be employed by the Company on such date.

(2) These options vest and become exercisable over a period of two years, with 40% becoming exercisable on July 1, 2014 and the remaining 60% becoming exercisable on July 1, 2015, provided that the applicable executive officer continues to be employed by the Company as of the applicable vesting date.

(3) The shares underlying such awards are subject to a right of repurchase by the Company under specified circumstances, including upon the cessation of employment, which repurchase right lapses based upon the achievement of certain strategic performance objectives, as determined by the Compensation Committee.

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