Eagle Pharmaceuticals,Inc. (NASDAQ:EGRX) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 24, 2018, Eagle Pharmaceuticals, Inc., or the Company, and David E. Riggs entered into a separation agreement, or the Agreement. to the Agreement, the Company and Mr. Riggs have mutually agreed to the terms of Mr. Riggs’ separation from the Company, such date of separation referred to as the Separation Date.
to the Agreement, in exchange for Mr.Riggs’ full general release of claims, the Company has agreed: (i)to extend the exercise period of certain Company stock options previously granted and (ii)to pay the COBRA premiums necessary to continue Mr.Riggs’ health insurance coverage (including coverage for covered dependents, if any) until the earliest of (A)six (6)months after the Separation Date, (B)the expiration of Mr.Riggs’ eligibility for the continuation coverage under COBRA, or (C)the date when Mr.Riggs becomes eligible for substantially equivalent health insurance coverage in connection with new employment or self-employment.
Under the terms of the Agreement, Mr.Riggs will be entitled to exercise any vested equity awards, to the extent they were vested and exercisable as of the Separation Date, until November30, 2019, but in no event later than the original expiration date of each such equity award (or the day before the tenth anniversary of the applicable date of grant of an equity award, if earlier).
The foregoing benefits are in full satisfaction, and in lieu of, any severance Mr.Riggs may have been previously eligible for, including under his offer letter, the Eagle Pharmaceuticals,Inc. Officer Severance Benefit Plan, as amended, or otherwise. The Agreement will become effective on the eighth day following Mr.Riggs’ execution thereof, unless revoked by Mr.Riggs prior to such day.
The foregoing summary of the Agreement is not intended to be complete and is qualified in its entirety by reference to the full text of the Agreement, which is filed as Exhibit10.1 to this Current Report on Form8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
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ExhibitNo. |
Description |
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10.1 |
Separation Agreement dated January24, 2018 |