Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On January 24, 2022, Harvard Bioscience, Inc. (the "Company") accepted the
resignation of Ken Olson for personal reasons from his position as Chief
Operating Officer of the Company effective January 31, 2022. Mr. Olson will
assist on various projects and in the transition of the Chief Operating Officer
role until his departure from the Company on December 31, 2022. Mr. Olson's
resignation was not the result of any disagreement related to any matter
involving the Company's operations, policies or practices.
In connection with Mr. Olson's departure, on January 26, 2022, the Company and
Mr. Olson entered into a Separation Agreement and Release (the "Separation
Agreement") attached hereto as Exhibit 10.1. Under the terms of the Separation
Agreement, the Company will, among other things, continue to employ Mr. Olson
and pay him his current salary until December 31, 2022 in exchange for his
remote assistance on projects and the transition of duties, unless earlier
terminated.
The foregoing description of the Separation Agreement does not purport to be
complete and is qualified in its entirety by reference to the Separation
Agreement, which is attached as Exhibit 10.1 to this Current Report on Form 8-K
and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit Number Description
10.1 Separation Agreement and Release between Harvard Bioscience,
Inc. and Ken Olson, dated as of January 26, 2022.
104 Cover Page Interactive Data File (embedded within the XBRL
document).
© Edgar Online, source Glimpses