Anavex Life Sciences Corp (AVXL)

[Doktornolittle]

Another miss in the article is the compensation for Vamvakides for the patents. He wasn't paid $200K/year as chief science officer, that was the entire R&D budget promised to him to work with. He was paid $72K/yr with a one time bonus of $72K. That apparently only lasted 2 years, so his total pay was apparently $216K + the future 6% of net. But this was 2007, and he was already 64 or 65 years old. Future net was at least 10 years away.

So why did Vamvakides leave after two years? Were the senior officers getting paid ten times what he was getting? It would be nice to know.

I am getting my numbers from WWayne's DD below:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=115490618

So there is a US rule that says they don't need Vamvakides signature if there is no other agreement that says they do need it. But they haven't said that there is no other agreement. There probably isn't, but I would sure like to hear somebody say that.

And just because you can get away with screwing the old man doesn't mean you should. Do another small offering if necessary, nobody gvs a fk. Just get the aging genius a million dollars or three and let him enjoy his twilight years. Quit the pssng contest and do the right thing.