Questcor Pharmaceuticals, Inc. (QCOR)

[elbiatcho1]

That's a nice bonus, sheesh.

ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.

On May 13, 2014, Questcor Pharmaceuticals, Inc. (the “Company”) entered into an amendment (the “Asarpota Amendment”) to the severance agreement with Rajesh Asarpota, the Company’s Senior Vice President, Chief Financial Officer. Under the Asarpota Amendment, if the proposed merger with Mallinckrodt plc and Quincy Merger Sub, Inc. is consummated and an excise tax is imposed on Mr. Asarpota as a result of any compensation or benefits provided to Mr. Asarpota in connection with the consummation of the proposed merger, the Company will pay or reimburse Mr. Asarpota an amount equal to such excise tax plus any taxes resulting from such payment or reimbursement.