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QLTI > SEC Filings for QLTI > Form 8-K on 5-Jun-2014All Recent SEC Filings

Show all filings for QLT INC/BC

Form 8-K for QLT INC/BC


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.

As previously disclosed, on December 18, 2013, QLT Inc. (the "Company") entered into a letter agreement with Alexander R. Lussow, the Company's Senior Vice President, Business Development and Commercial Operations, in which the Company, among other things, agreed that it would terminate Mr. Lussow on either, in the Company's discretion, March 31, 2014, April 30, 2014 or May 31, 2014. Mr. Lussow was terminated effective May 31, 2014. As a result of the termination of his employment, Mr. Lussow will receive certain severance benefits in accordance with the Change of Control Agreement, dated June 30, 2006, between the Company and Mr. Lussow, and the letter agreement, dated December 16, 2013, between the Company and Mr. Lussow. As a condition to his receipt of benefits under the Change of Control Agreement and letter agreement, Mr. Lussow executed a release of all claims against the Company.

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