Cleveland BioLabs, Inc. (NASDAQ:CBLI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Cleveland BioLabs, Inc. (NASDAQ:CBLI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02.Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

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On October 11, 2020, Cleveland BioLabs, Inc. (the “Company”) entered into a Consulting Agreement (the “Consulting Agreement”)with Dr. Andrei Gudkov, Ph.D., D. Sci., the Company’s Chief Scientific Officer. The Consulting Agreement replaces Dr. Gudkov’s previous employment agreement, which expired in accordance with its terms in July 2020. Under the Consulting Agreement, Dr. Gudkov will continue to serve the Company as Chief Scientific Officer as an independent contractor, and not an employee, for the term of six months, unless extended by mutual agreement of the Company and Dr. Gudkov, or earlier terminated. The Company has agreed to pay Dr. Gudkov, through his consultancy, the rate of $225 per hour for his services, which will be focused on clinical development responsibilities associated with the development of the Company’s principal drug candidate, entolimod, as a medical radiation countermeasure, and such other duties and responsibilities associated with his continued services as Chief Scientific Officer. Both Dr. Gudkov and the Company may terminate the Consulting Agreement for convenience upon 14 days’ prior written notice. Upon termination, the Company will pay all fees owed to Dr. Gudkov for services rendered prior to the termination date, but he will not be entitled to any severance or other post-termination payments.

The Consulting Agreement is filed as Exhibit 10.1 to this Current Report on Form 8-K. The foregoing summary of the terms of the Consulting Agreement is subject to, and qualified in its entirety by, the Consulting Agreement, which is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d)     Exhibits

* to Item 601(a)(5) of Regulation S-K, certain schedules have been omitted. A copy of any omitted schedule will be furnished supplementally to the Securities and Exchange Commission upon request.

 
 

CLEVELAND BIOLABS INC Exhibit
EX-10.1 2 ex_206652.htm EXHIBIT 10.1 ex_206652.htm Exhibit 10.1   CONSULTING AGREEMENT   THIS CONSULTING AGREEMENT (the “Agreement”),…
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About Cleveland BioLabs, Inc. (NASDAQ:CBLI)

Cleveland BioLabs, Inc. (CBLI) is a biopharmaceutical company. The Company’s programs are focused developing approaches to activate the immune system and address serious medical needs. Its platform of Toll-like immune receptor activators has applications in mitigation of radiation injury and immuno-oncology. Its advanced product candidate is entolimod, an immuno-stimulatory agent, which the Company is developing as a radiation countermeasure and an immunotherapy for oncology and other indications. It also has an additional clinical-stage program and multiple projects in different stages of preclinical drug development. Its products include Entolimod, CBLB612, CBL0137 and Mobilan. Entolimod is a toll-like receptor 5 (TLR5). CBLB612 is a compound-based upon a natural activator of another tissue-specific component of the immune system. Mobilan is a recombinant non-replicating adenovirus that directs expression of TLR5.

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