Do you believe that Dr. Missling will prove that he truly deserves his new salary beginning on Sunday and Wednesday next week?
Compensatory Arrangements of Certain Officers.
Effective July 5, 2016 (the “Effective Date”), Anavex Life Sciences Corp., a Nevada corporation (the “Company”), entered into the First Amendment to Employment Agreement (the “Amendment”) with Christopher Missling, PhD (“Dr. Missling”), in his continuing capacity as Chief Executive Officer of the Company. The Amendment amends the Employment Agreement by and between the Company and Dr. Missling, effective July 5, 2013 (the “Employment Agreement”), and extends the term of Dr. Missling’s employment with the Company through July 5, 2019, unless earlier terminated as provided in the Amendment. Pursuant to the terms of the Amendment, Dr. Missling shall receive an annual salary of $500,000 and is eligible to earn an annual cash bonus for each whole or partial calendar year of up to $100,000. Subject to the terms of the Amendment, Dr. Missling will also receive Two Million Dollars ($2,000,000) of options for shares of the Company’s common stock on each of July 5, 2016, July 5, 2017 and July 5, 2018. For the options granted on July 5, 2016, one-third shall vest on each of July 5, 2017, July 5, 2018 and July 5, 2019. With respect to the options granted on July 5, 2017, one-half shall vest on July 5, 2018 and the other half shall vest on July 5, 2019. All options granted on July 5, 2018 shall vest on July 5, 2019. Such options shall have an exercise price equal to the closing price of the Company’s common stock on each grant date.
Alzheimer’s Association International Conference® 2016 (AAIC®) to be held from 24-28 July, 2016 in Toronto, Canada.
The poster presentations will feature data from the Company’s ongoing Phase 2a clinical study in patients with mild-to-moderate Alzheimer’s disease, highlighting ANAVEX 2-73 dose-response effect, Maximum Tolerated Dose (MTD) determination, as well as, 31 week safety, tolerability and exploratory efficacy assessment.
Presentation Details (#11011 and #12349):
Title: New Exploratory Alzheimer’s Drug ANAVEX 2-73: Dose Dependent Clinical Cognitive Improvement Observed in Mini Mental State Examination (MMSE) and Other Cognitive Markers in a Phase 2a Study in Mild-to-Moderate Alzheimer’s Patients
Date/Time: Sunday, July 24, 2016: 09:30 AM – 10:30 AM EDT
Location: Metro Toronto Convention Centre, Hall D/E
Title: Safety and Efficacy 31 Week Data of ANAVEX 2-73 in a Phase 2a Study in Mild-Moderate Alzheimer’s Disease Patients
Date/Time: Wednesday, July 27, 2016: 1:00 PM – 2:00 PM EDT
Location: Metro Toronto Convention Centre, Hall D/E
Good luck and GOD bless,
George
