"Dr. Diwan will be eligible to receive severance if he is terminated by the Company other than for cause in which event the Company shall pay to Dr. Diwan an amount equal to six (6) months salary as severance compensation (without regard to compensation or benefits Dr. Diwan receives from any other source). Dr. Diwan shall be eligible for all benefits during this six (6) month period including bonuses, vesting of previously awarded stock options, health care insurance and other fringe benefits that have been ongoing. The Company may elect to pay such severance compensation in a lump sum or in equal payments over a period of not more than six (6) months."https://www.sec.gov/Archives/edgar/data/1379006/000114420418038907/tv498747_8k.htm
Good grief. The senior management at these "development stage" companies are typically "at will" employees.
It looks like Diwan was a tough negotiator when he was negotiating his employment agreement with himself.
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