Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
As previously reported, on June 1, 2021, David Thomson, Ph.D., notified
Precision BioSciences, Inc. (the "Company") of his resignation as the Company's
Chief Operating Officer ("COO"), effective July 2, 2021.
In connection with Dr. Thomson's resignation, on July 2, 2021, Dr. Thomson and
the Company entered into a consulting agreement (the "Consulting Agreement"),
pursuant to which Dr. Thomson is to provide consulting, advisory and related
services to the Company for an hourly fee of $400 per hour, with the Company to
provide, in any case, a minimum monthly payment equal to 20 hours of service, or
$8,000. The term of the Consulting Agreement is from June 2, 2021 to October 2,
2021 unless earlier terminated by either party. The Consulting Agreement
provides that Dr. Thompson's stock options will continue to vest during the term
of the Consulting Agreement, and Dr. Thomson will be entitled to a
post-termination exercise period through January 2, 2022 to exercise any vested
options.
Item 9.01.Financial Statements and Exhibits.
(d) Exhibits
Exhibit
No. Description
99.1 Consulting Agreement between Precision BioSciences, Inc and Dr. David
Thomson, dated July 2, 2021.
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