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

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
POZN > SEC Filings for POZN > Form 8-K on 9-Jan-2014All Recent SEC Filings

Show all filings for POZEN INC /NC

Form 8-K for POZEN INC /NC


Entry into a Material Definitive Agreement, Financial Statements and Exhibits

Item 1.01 Entry into a Material Definitive Agreement.

On January 6, 2014, POZEN, Inc., a Delaware corporation ("POZEN" or "the Company") and Elizabeth A. Cermak, formerly Executive Vice President, Chief Commercial Officer of the Company, entered into a Severance Agreement (the "Severance Agreement") in connection with Ms. Cermak's previously announced departure from POZEN, effective on January 1, 2014. The Severance Agreement terminates the existing Executive Employment Agreement, dated as of September 14, 2009, between Ms. Cermak and the Company (the "Existing Agreement"). The material terms of the Severance Agreement are as follows:

The Company will pay Ms. Cermak severance as contemplated in the Existing Agreement.

In addition, Ms. Cermak will receive her 2013 cash bonus as determined by the Compensation Committee of the Board of Directors in the ordinary course.

Ms. Cermak shall also be entitled to receive all Company nontaxable employee benefits to which she was entitled immediately prior to her date of separation, subject to the terms of all applicable Company benefits plans and to the extent such benefits can be provided to non-employees for the shorter of (i) one (1) year following separation; and (ii) until such time as Ms. Cermak obtains comparable coverage.

Ms. Cermak has waived and released any and all claims against the Company.

Item 9.01. Financial Statements and Exhibits.

(c) Exhibits

Exhibit No.                         Description

        10.1   Severance Agreement by and between the Company and
               Elizabeth A. Cermak, dated January 6, 2014.

  Add POZN to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for POZN - All Recent SEC Filings
Copyright © 2015 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.