Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Separation Agreement
On June 21, 2022, Mr. Murphy signed a mutual separation agreement with the
Company (the "Separation Agreement") pursuant to which Mr. Murphy will receive a
cash payment of $141,667 less applicable taxes, Consolidated Omnibus Budget
Reconciliation Act (COBRA) benefits for up to one year from his separation date
and an extension of the post-termination exercise period for his vested stock
options for one year from his separation date. The agreement also includes a
release of claims.
The above summary is not complete and is qualified in its entirety by the
Separation Agreement, a copy of which is expected to be filed as an exhibit to
our next Quarterly Report on Form 10-Q.
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