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GNVC > SEC Filings for GNVC > Form 8-K on 30-Jul-2013All Recent SEC Filings

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Form 8-K for GENVEC INC


30-Jul-2013

Termination of a Material Definitive Agreement


Item 1.02 Termination of a Material Definitive Agreement.

On July 29, 2013, GenVec, Inc. (the "Company") and the U.S. Naval Medical Logistics Command entered into a modification (the "Modification") to their existing contract dated September 29, 2012 related to the support of malaria vaccine development efforts at the U.S. Naval Medical Research Center (the "NMRC Contract"). The modification terminates the NMRC Contract pursuant to the Navy's right of termination for convenience effective July 30, 2013, and was the result of a request by the Company in light of the Company's efforts to reduce its ongoing business operations. Of the originally anticipated $3.5 million over a three year period, through the date of termination the Company has received approximately $1.4 million under the NMRC Contract.

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