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NLNK > SEC Filings for NLNK > Form 8-K on 14-Aug-2013All Recent SEC Filings

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Form 8-K for NEWLINK GENETICS CORP


14-Aug-2013

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) Amendment to Executive Employment Agreements

On August 13, 2013, NewLink Genetics Corporation (the "Company" or "Registrant") entered into amendments to certain employment agreements between the Company and the respective executive officer of the Company (the "Agreements"), as further described below.
The Agreement for Dr. Charles J. Link, Jr. was amended to, among other things,
(i) add a provision to include, in the event of termination without cause or for good reason, a bonus payout equal to the most recent annual bonus paid to Dr. Link, (ii) add a provision to include, in the event of termination in connection with a change in control, a bonus payout equal to two times the most recent annual bonus paid to Dr. Link, and (iii) reduce the term of COBRA coverage from twenty-four (24) to eighteen (18) months in connection with the events described in parts (i) and (ii) of this sentence. The Agreement for Dr. Nicholas N. Vahanian was amended to, among other things,
(i) add a provision to include, in the event of termination without cause or for good reason, a bonus payout equal to the most recent annual bonus paid to Dr. Vahanian, (ii) add a provision to include, in the event of termination in connection with a change in control, a bonus payout equal to one and one-half
(1.5) times the most recent annual bonus paid to Dr. Vahanian, and (iii) increase the term of COBRA coverage and base salary to be received from twelve
(12) to eighteen (18) months in connection with the events described in parts
(i) and (ii) of this sentence. The Agreement for Mr. Gordon H. Link, Jr. was amended to, among other things,
(i) add a provision to include, in the event of termination in connection with a change in control, a bonus payout equal to the most recent annual bonus paid to Mr. Link and (ii) increase the term of COBRA coverage and salary to be received from six (6) to twelve (12) months in connection with the events described in part (i) of this sentence. The Agreement for Dr. W. Jay Ramsey was amended to, among other things, (i) add a provision to include, in the event of termination in connection with a change in control, a bonus payout equal to the most recent annual bonus paid to Dr. Ramsey and (ii) increase the term of COBRA coverage and salary to be received from six (6) to twelve (12) months in connection with the events described in part (i) of this sentence. The foregoing descriptions of the Agreements are qualified in their entirety by reference to the amendments to the Agreements filed as exhibits to this Current Report on Form 8-K.


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