Simulations Plus, Inc. (NASDAQ:SLP) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

ME Staff 8-k
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Simulations Plus, Inc. (NASDAQ:SLP) 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

Effective September 3, 2020, Simulations Plus, Inc., a California corporation (the “Company”) entered into an employment agreement with its Chief Executive Officer (CEO) Shawn O’Connor (the “Employment Agreement”). The Employment Agreement extends Mr. O’Connor’s term as CEO to August 31, 2023 and supersedes and replaces his prior employment agreement. to the Employment Agreement, Mr. O’Connor’s annual base salary increased to $450,000 and he received a one-time sign-on bonus of $100,000. In addition, Mr. O’Connor’s eligibility to receive annual equity grants increased from 25,000 to 30,000 options to purchase the Company’s common stock under the 2017 Simulations Plus, Inc. Equity Incentive Plan, as determined by the Company’s Board of Directors, his eligibility to receive an annual performance bonus increased to an amount not to exceed $225,000 to be determined by the Compensation Committee of the Company’s Board of Directors, and he became eligible to receive an additional annual discretionary bonus of up to $75,000 and an additional grant of 7,500 stock options. Mr. O’Connor’s early termination compensation also increased from six to twelve months of annual base salary and COBRA coverage.

The foregoing summary of the Employment Agreement, does not purport to be complete and is subject to, and qualified in its entirety by, a copy of the Employment Agreement attached as Exhibit 10.1 to this Current Report on Form 8-K, which is incorporated herein by reference.

(d)  Exhibits.


SIMULATIONS PLUS INC Exhibit
EX-10.1 2 simulations_ex1001.htm EMPLOYMENT AGREEMENT Exhibit 10.1   EMPLOYMENT AGREEMENT   This Employment Agreement (the “Agreement”) is made as of this 3rd day of September,…
To view the full exhibit click here

About Simulations Plus, Inc. (NASDAQ:SLP)

Simulations Plus, Inc. (Simulations Plus) develops and produces software for use in pharmaceutical research and for education, and provides consulting and contract research services to the pharmaceutical industry. The Company offers five software products for pharmaceutical research. ADMET (Absorption, Distribution, Metabolism, Excretion and Toxicity) Predictor is a computer program that takes molecular structures as inputs and predicts over 140 different properties for them at the rate of about 200,000 compounds per hour. MedChem Designer includes a small set of ADMET Predictor property predictions, allowing the chemist to modify molecular structures. MedChem Studio is a tool for medicinal and computational chemists for both data mining and for designing new drug-like molecules. DDDPlus simulates in-vitro laboratory experiments used to measure the rate of dissolution of the drug. GastroPlus simulates the absorption, pharmacokinetics, and pharmacodynamics of drugs.