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Replies to #64021 on Biotech Values
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DewDiligence

07/07/08 4:25 PM

#64022 RE: zipjet #64021

Disclaimers in APPX’s SEC filings essentially state that Patrick Soon-Shiong, as the owner of 80% of the equity, can do pretty much anything he pleases.
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rkrw

07/07/08 4:29 PM

#64023 RE: zipjet #64021

They may skate near an ethical line if egregious but they happen all the time. I don't recall one ever being challenged as illegal.
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rkrw

07/07/08 4:44 PM

#64024 RE: zipjet #64021

Nothing in here seems unreasonable. I just pointed it out, thought it was a strong clue they were in play. Of course I only found it after todays deal :)


In addition on June 27, 2008, the compensation committee approved retention agreements with each of Thomas Silberg, Frank Harmon and Richard Maroun. Under the terms of these retention agreements, such persons would receive a severance payment in event that his employment is terminated for certain reasons within two (2) years following a change of control of the Company, and (i) his base salary is reduced other than as applied to other similarly situated employees, or (ii) he is required to be based outside of 50 miles from Schaumburg, Illinois or Los Angeles, California without his consent, or (iii) his employment is terminated by the Company other than for cause, disability or death.