Ayala Pharmaceuticals Inc (ADXS)

[tx_farmer]

"In connection with Mr. O’Connor’s departure, the Company and Mr. O’Connor have entered into a separation agreement (“Separation Agreement”), pursuant to which Mr. O’Connor will receive: (i) cash payments in a total gross amount of $560,000, payable over a 12 month period, (ii) a one-time gross cash payment of $280,000, payable on or about July 13, 2017, and (iii) continued vesting on his equity in the Company. The Separation Agreement also contains a continuation of certain medical insurance benefits and other customary provisions. The foregoing description of the Separation Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of this document, which is filed hereto as Exhibit 10.1, and is incorporated herein by reference."

He still is going to receive 1 year's pay of $560,00 and $280,000 "bonus" which is paid in cash. This reads like a huge pat on the back and job well done. Who has ever heard of a cash payment so large for "resigning." With the inclusion of his shares, DO will be set for life. Now the next transition of ADXS, to be continued...