ViewRay, Inc. (NASDAQ:VRAY) 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.
Jim Alecxih ceased serving as Chief Commercial Officer of the Company effective January 17, 2020 (the “Separation Date”). As previously announced, Mr. Alecxih’s departure from the Company is not the result of any issue, concern or disagreement regarding the Company’s operations, policies or practices of the Company.
In connection with Mr. Alecxih’s resignation and in consideration of his release of claims against the Company, on January 14, 2020, the Company entered into a severance agreement with Mr. Alecxih (the “Agreement”). Under the Agreement, Mr. Alecxih will receive, among other benefits, cash payments equal to $564,452 and continued medical insurance coverage to COBRA for the twelve-month period following the separation date.
Mr. Alecxih will remain subject to the Company’s Confidentiality, Inventions and Non-Interference Agreement and will be subject to a confidentiality obligation, non-disparagement and non-solicitation of employees, agents or consultants of the Company for twelve months after the Separation Date.
About ViewRay, Inc. (NASDAQ:VRAY)
ViewRay, Inc. designs, manufactures and markets MRIdian, the magnetic resonance imaging (MRI)-guided radiation therapy system to image and treat cancer patients simultaneously. The Company offers radiation therapy technology combined with magnetic resonance imaging. MRIdian integrates MRI technology, radiation delivery and the Company’s software to locate, target and track the position and shape of soft-tissue tumors while radiation is delivered. MRIdian delivers radiation to the tumor accurately while delivering less radiation to healthy tissue. MRIdian provides real-time imaging that defines the targeted tumor from the surrounding soft tissue and other critical organs during radiation treatment. MRIdian allows physicians to record the level of radiation exposure that the tumor has received and adapt the prescription between fractions as needed.
