ADEP » Topics » Termination / Change in Control Payments

This excerpt taken from the ADEP DEF 14A filed Sep 24, 2008.

Termination / Change in Control Payments

We have entered into an employment offer letter with our former CEO, Robert H. Bucher, which contains provisions that may be activated upon a change in control of Adept. Below is a summary of the change in control terms included in Mr. Bucher’s employment offer letter. The employment agreement with Mr. Bucher provides that he can be terminated at will by either Adept or Mr. Bucher, at any time, with or without notice, and for any reason, with or without cause.

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