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CDXS > SEC Filings for CDXS > Form 8-K on 26-Jul-2013All Recent SEC Filings

Show all filings for CODEXIS INC

Form 8-K for CODEXIS INC


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 July 24, 2013, Codexis, Inc. (the "Company") entered into a Transition and Separation Agreement (the "Transition and Separation Agreement") with David L. Anton, the Company's former Senior Vice President, BioIndustrials. Pursuant to the Transition and Separation Agreement, Dr. Anton will be employed by the Company in the position of Advisor to CEO between June 1, 2013 and August 31, 2013 (the "Transition Period"). During the Transition Period, Dr. Anton will receive his current base salary ($27,895.84 per month), and the options to purchase Common Stock of the Company previously granted to Dr. Anton under the Company's equity incentive plans will continue to vest in accordance with their existing terms. Dr. Anton provided a release of claims in connection with the execution of the Transition and Separation Agreement. After the Transition Period, in exchange for a full general release of claims and compliance with the terms of the Transition and Separation Agreement, including the terms of the Confidential Information, Secrecy, and Invention Agreement entered into between Dr. Anton and the Company, as of March 24, 2008, Dr. Anton will receive: six bi-monthly severance payments of $13,948 per payment, less required withholding taxes; a lump sum payment of $61,800, which represents Dr. Anton's pro rata bonus for fiscal year 2013, less required withholding taxes; and payment for COBRA premiums necessary to continue medical, dental and vision coverage for Dr. Anton and his covered dependents until the earlier of November 30, 2013 or the date Dr. Anton becomes eligible for comparable coverage under another employer's plans. The foregoing is only a summary of the material terms of the Transition and Separation Agreement, does not purport to be a complete description of the rights and obligations of the parties thereunder and is qualified in its entirety by reference to the Transition and Separation Agreement, which will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2013.

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