On October 1, 2019, Paul S. Weiner, Chief Financial Officer of Conformis, Inc. (the “Company”), announced his resignation from the Company. In connection with his departure, Mr. Weiner will cease to serve as an executive officer (as such term is defined in Rule 3b-7 of the Securities Exchange Act of 1934, as amended) of the Company, effective October 18, 2019.
In connection with Mr. Weiner’s resignation as Chief Financial Officer, the Company and Mr. Weiner entered into a Consulting Agreement (the “Consulting Agreement”), effective on October 19, 2019. Under the terms of the Consulting Agreement, Mr. Weiner has agreed to provide certain consulting services to the Company for a period commencing on October 19, 2019 and concluding on December 31, 2019. For his services, Mr. Weiner will be compensated with a cash payment of $15,017.76 for the period from October 19, 2019 through November 2, 2019 and at a fixed rate of $450 per hour for the period starting November 3, 2019 through December 31, 2019. Mr. Weiner will also be paid a one-time bonus of $65,000 upon the expiration of the Consulting Agreement and so long as certain conditions are satisfied.
As part of the Consulting Agreement, Mr. Weiner has agreed to abide by the terms and conditions set forth in the Employee Confidential Information, Inventions and Non-Competition Agreement, dated as of May 21, 2015, by and between the Company and Mr. Weiner. Mr. Weiner and the Company have also agreed to customary covenants relating to confidential information and intellectual property of the Company.
The foregoing description of the Consulting Agreement does not purport to be complete and is qualified in its entirety by reference to the complete text of the Consulting Agreement, which is attached as Exhibit 10.1 to this report and is incorporated herein by reference.
On October 4, 2019, the Company issued a press release announcing Mr. Weiner’s resignation. A copy of the press release is attached as Exhibit 99.1 to this report and is incorporated herein by reference.
*Furnished herewith
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Conformis Inc ExhibitEX-10.1 2 ex_101xconsultingagreement.htm EXHIBIT 10.1 Exhibit CONFORMIS,…
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About Conformis, Inc. (NASDAQ:CFMS)
ConforMIS, Inc. is a medical technology company that uses its iFit Image-to-Implant technology platform to develop, manufacture and sell joint replacement implants. The Company’s products include iTotal CR, which is the cruciate-retaining, customized total knee replacement system to restore the natural shape of a patient’s knee; iTotal PS, which is the posterior cruciate ligament substituting, or posterior-stabilized, customized total knee replacement product to restore the natural shape of a patient’s knee; iDuo, which is the customized bicompartmental knee replacement system, and iUni, which is the customized unicompartmental knee replacement product for treatment of the medial or lateral compartment of the knee. Its iFit technology platform comprises three elements: iFit Design, iFit Printing and iFit Just-in-Time Delivery. The Company markets and sells its products in the United States, Germany, the United Kingdom, Austria, Ireland, Switzerland, Singapore and Hong Kong.
