Windtree Therapeutics Inc (WINT)

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BRIEF-Discovery Laboratories appoints interim CEO

09.07.2010 18:46
http://www.finanznachrichten.de/nachrichten-2010-07/17373283-brief-discovery-laboratories-appoints-interim-ceo-020.htm

July 9 (Reuters) - Discovery Laboratories Inc:

* Amends non-employee executive agreement with amick; extends term of the

agreement to June 30, 2011

* Says appoints Thomas Amick as interim chief executive officer

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http://biz.yahoo.com/e/100709/dsco8-k.html

9-Jul-2010

Change in Directors or Principal Officers


Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On July 2, 2010, Discovery Laboratories, Inc. (the "Company") entered into an amendment (the "Amendment") to the non-employee executive agreement, dated August 13, 2009, between the Company and its director W. Thomas Amick (the "Agreement"), pursuant to which Mr. Amick assumed the responsibilities of the Company's Chief Executive Officer on an interim basis. The Amendment extends the term of the Agreement to June 30, 2011; however, the Agreement, as amended, remains subject to earlier termination at any time upon ten days' written notice to the other party.

In connection with the Amendment, the Compensation Committee of the Company's Board of Directors authorized a grant of an option to Mr. Amick to purchase 30,000 shares of the Company's common stock under the Company's 2007 Long-Term Incentive Plan. The option has an exercise price of $0.18, the closing market price of the Company's common stock on July 7, 2010, the date of grant.

The description of the remaining terms and conditions of the Agreement is incorporated by reference to the Company's current report on Form 8-K filed on September 4, 2009 and the full text of the Agreement attached as Exhibit 10.1 thereto.