SQNM » Topics » Dr. Cantors Contract

This excerpt taken from the SQNM DEF 14A filed May 11, 2007.

Dr. Cantor’s Contract

Effective September 15, 2005, Dr. Cantor’s amended employment agreement provides for employment on an at-will basis. Dr. Cantor is entitled to certain payments in the event of the termination of his employment with us; these payments are discussed in more detail in the “Post-Employment Payments” section below. Dr. Cantor’s employment agreement requires that he provide us with consulting services, if we request, during the period that he receives termination payments. Dr. Cantor’s agreement also provides that all of Dr. Cantor’s stock options will become fully vested if and upon a majority of the outstanding shares of our common stock or all or substantially all of our assets are acquired by another business or by an individual. He is a participant in the Change in Control Severance Benefit Plan, also discussed in the “Post-Employment Payments” section below.

 

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This excerpt taken from the SQNM 10-K filed Apr 23, 2007.

Dr. Cantor’s Contract

 

Effective September 15, 2005, Dr. Cantor’s amended employment agreement provides for employment on an at-will basis. Dr. Cantor is entitled to certain payments in the event of the termination of his employment with us; these payments are discussed in more detail in the “Post-Employment Payments” section below. Dr. Cantor’s employment agreement requires that he provide us with consulting services, if we request, during the period that he receives termination payments. Dr. Cantor’s agreement also provides that all of Dr. Cantor’s stock options will become fully vested if and upon a majority of the outstanding shares of our common stock or all or substantially all of our assets are acquired by another business or by an individual. He is a participant in the Change in Control Severance Benefit Plan, also discussed in the “Post-Employment Payments” section below.

 

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