SEC Filings

S-1
AVEXIS, INC. filed this Form S-1 on 01/15/2016
Entire Document
 

 

7.5                               LEGAL AND EQUITABLE REMEDIES.

 

(a)                                 Executive agrees that it may be impossible to assess the damages caused by his violation of this Agreement or any of its terms.  Executive agrees that any threatened or actual violation of this Agreement or any of its terms will constitute immediate and irreparable injury to the Company and the Company shall have the right to enforce this Agreement and any of its provisions by injunction, specific performance or other equitable relief, without bond and without prejudice to any other rights and remedies that the Company may have for a breach or threatened breach of this Agreement.

 

(b)                                 Executive agrees that if the Company is successful in whole or in part in any legal or equitable action against Executive under this Agreement, the Company shall be entitled to payment of all costs, including reasonable attorney’s fees, from Executive.

 

(c)                                  In the event the Company enforces this Agreement through a court order, Executive agrees that the restrictions of Sections 7.1 and 7.2 shall remain in effect for a period of twelve (12) months from the effective date of the Order enforcing the Agreement.

 

8.                                      TERMINATION OF EMPLOYMENT.

 

8.1                               Termination at Expiration of the Employment Term, For Cause or Resignation Without Good Reason.  If the Executive’s employment is terminated for failure to renew the Initial Term or any Renewal Term or is terminated by the Company for Cause (defined below), or Executive resigns for any reason other than Good Reason (defined below), the Company shall pay Executive any base salary earned, expenses incurred and unused vacation benefits accrued through the date of termination, at the rates then in effect, less standard deductions and withholdings.  The Company shall thereafter have no further obligations to Executive, except as may otherwise be required by law.

 

8.2                               Termination Without Cause or Resignation For Good Reason. If at any time Executive’s employment is terminated without Cause or Executive resigns for Good Reason (as both are defined below), then the Company shall pay Executive any earned but unpaid base salary and unused vacation benefits accrued through the date of termination, at the rates then in effect, less standard deductions and withholdings.  In addition, if Executive furnishes to the Company an executed waiver and release of claims in a form to be provided by the Company (the “Release”) within the time period specified therein, but in no event later than forty-five days following Executive’s termination, and if Executive allows such Release to become effective in accordance with its terms, then the Company shall continue payment of Executive’s Base Salary as in effect immediately preceding the last day of the Employment Term (ignoring any decrease in Base Salary that forms the basis for Good Reason), for a period of twelve (12) months following the termination date on the Company’s regular payroll dates (the “Severance Payments”); provided, however, that any payments otherwise scheduled to be made prior to the effective date of the Release (namely, the date it can no longer be revoked) shall accrue and be paid in the first payroll date that follows such effective date with subsequent payments occurring on each subsequent Company payroll date. In addition, in the event that Executive elects COBRA continuation coverage, the Company shall pay Executive’s COBRA premiums until the earlier of twelve months following the termination of employment or the date

 



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