SEC Filings

S-1
AVEXIS, INC. filed this Form S-1 on 01/15/2016
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accordance with the severance agreement. The $500,000 severance benefit was to be paid in cash over a twelve month period in equal installments, subject to potential acceleration if Mr. Carbona resigned or was removed from his service on the board of directors. In addition, we agreed to fully accelerate the vesting of the unvested stock option granted in June 2014 that was held by Mr. Carbona at the time of the termination of his employment. Mr. Carbona executed a general release of claims against us as a condition to receipt of the benefits under the severance agreement.

          As of June 16, 2015, Mr. Carbona ceased to be a member of the board of directors. Pursuant to the terms of the severance agreement, 50% of the then unpaid portion of the $500,000 severance due to Mr. Carbona was paid to Mr. Carbona in a lump sum within 30 days from the termination of his service on the board of directors and the other 50% was due and payable to Mr. Carbona in equal installments over six months from such date. Of the $535,000 due under the severance agreement, $381,154 was paid as of December 31, 2015.

          Further, in connection with the termination of Mr. Carbona's employment, Mr. Carbona, JDH Investment and West Summit entered into the Mutual Termination Agreement to terminate the cross option under the Stock Purchase and Option Agreement. Pursuant to the Mutual Termination agreement, Mr. Carbona transferred to each of JDH Investment and West Summit a fully vested option to purchase 50,000 shares of our common stock, which represented two-thirds of the June 2014 stock option that Mr. Carbona held as of his termination that had fully vested pursuant to his severance agreement.

Mr. Nolan

          Pursuant to his employment agreement, Mr. Nolan is entitled to severance benefits if his employment is terminated without cause or if he resigns for good reason, subject to his execution of a release. If Mr. Nolan is terminated without cause or resigns for good reason, he is eligible to receive 12 months of continued base salary and premiums for continued health coverage or, if such termination or resignation occurs within the 12 months following a sale event, as defined in Mr. Nolan's employment agreement, 18 months.

Mr. Dee

          Pursuant to his employment agreement, Mr. Dee is entitled to severance benefits if his employment is terminated without cause or if he resigns for good reason, subject to his execution of a release. If Mr. Dee is terminated without cause or resigns for good reason, he is eligible to receive 12 months of continued base salary and premiums for continued health coverage or, if such termination or resignation occurs within the 12 months following a sale event, as defined in Mr. Dee's employment agreement, 18 months.

Dr. Nagendran

          Pursuant to his employment agreement, Dr. Nagendran is entitled to severance benefits if his employment is terminated without cause or if he resigns for good reason, subject to his execution of a release. If Dr. Nagendran is terminated without cause or resigns for good reason, he is eligible to receive 12 months of continued base salary and premiums for continued health coverage or, if such termination or resignation occurs within the 12 months following a sale event, as defined in Dr. Nagendran's employment agreement, 18 months.

Dr. L'Italien

          Pursuant to his employment agreement, Dr. L'Italien is entitled to severance benefits if his employment is terminated without cause or if he resigns for good reason, subject to his execution of a release. If Dr. L'Italien is terminated without cause or resigns for good reason, he is eligible to

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