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ATHX > SEC Filings for ATHX > Form 8-K on 21-Jan-2014All Recent SEC Filings

Show all filings for ATHERSYS, INC / NEW

Form 8-K for ATHERSYS, INC / NEW


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

On January 17, 2014, the Board of Directors of Athersys, Inc. (the "Company"), upon the recommendation of the Compensation Committee (the "Committee") of the Board of Directors of the Company (the "Board"), approved the following cash bonuses to the named executive officers of the Company, based on individual performance and achievement of corporate goals in 2013:

Name                                                Title                    Award
Dr. Gil Van Bokkelen                   Chief Executive Officer             $ 118,800
William Lehmann, Jr.                   President and Chief Operating
                                       Officer                             $  84,000
Dr. John Harrington                    Executive Vice President and
                                       Chief Scientific Officer            $  83,500
Dr. Robert Deans                       Executive Vice President,
                                       Regenerative Medicine               $  65,000
Laura Campbell                         Vice President of Finance           $  42,000

Further, on January 17, 2014, the Board, upon the recommendation of the Committee, authorized the Company to enter into an amendment to that certain employment agreement, made as of January 1, 2004, as amended (the "Employment Agreement"), between the Company and William (B.J.) Lehmann to increase the length of time that Mr. Lehmann would be entitled to receive compensation from the Company in connection with the termination of Mr. Lehmann's employment
(i) by the Company in breach of the Employment Agreement, or (ii) by Mr. Lehmann for Good Reason (as defined) in the Employment Agreement from six months to twelve months.

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