SEC Filings

S-1/A
AVEXIS, INC. filed this Form S-1/A on 02/09/2016
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his employment with us. Pursuant to his agreement, Dr. L'Italien also entered into a confidentiality, inventions assignment, non-competition and non-solicitation agreement with us.

Mr. Knudten

          We entered into an employment agreement with Mr. Knudten, our Senior Vice President, Manufacturing and Supply Chain, in August 2015. Pursuant to the terms of his employment agreement, Mr. Knudten's employment is at will and may be terminated at any time by us or Mr. Knudten. Under the terms of the agreement, Mr. Knudten is entitled to receive an annual base salary of $350,000 and an annual target bonus of 40% of his annual base salary based upon our board of directors' assessment of Mr. Knudten's performance and our attainment of targeted goals as set by the board of directors in their sole discretion. In accordance with the agreement, Mr. Knudten was also granted an option to purchase 151,800 shares of our common stock. 25% of the shares subject to the option vest on September 4, 2016 (the first anniversary of Mr. Knudten's commencement of employment) and the remaining shares vest in 36 equal monthly installments thereafter, subject to Mr. Knudten's continued service and subject to full acceleration upon the occurrence of a sale event, as defined in Mr. Knudten's agreement. Additionally, Mr. Knudten's agreement provides that we will reimburse him if Hospira, Inc., his former employer, enforces a clawback provision regarding the relocation payment of $80,000 paid to him upon his relocation to Chicago in connection with his employment there. Pursuant to his agreement, Mr. Knudten also entered into a confidentiality, inventions assignment, non-competition and non-solicitation agreement with us.

Dr. Kaspar

          We entered into an employment agreement with Dr. Kaspar, our Chief Scientific Officer, in January 2016. Pursuant to the terms of his employment agreement, Dr. Kaspar's employment is at will and may be terminated at any time by us or Dr. Kaspar. The agreement acknowledges that Dr. Kaspar remains an employee of, and devotes a significant amount of his business time and attention to, NCH. Pursuant to the terms of his employment agreement, Dr. Kaspar is also prohibited from engaging in any research activities on behalf of our Company unless and to the extent we enter into written agreements with NCH to sponsor such research activities. Moreover, under the terms of his employment agreement, NCH owns all inventions and discoveries, whether patentable or not, that Dr. Kaspar makes, conceives or reduces to practice, unless otherwise specifically provided for by the terms of a sponsored research agreement between us and NCH. Under the terms of the agreement, Dr. Kaspar is entitled to receive an annual base salary of $325,000 and an annual target bonus of 40% of his annual base salary based upon our board of directors' assessment of Dr. Kaspar's performance and our attainment of targeted goals as set by the board of directors in their sole discretion. The employment agreement also contains confidentiality, non-competition and non-solicitation provisions.

Payments upon Termination or Change in Control

Mr. Carbona

          Mr. Carbona's employment agreement provided for severance payments upon certain termination events. If Mr. Carbona was terminated by us without cause or if Mr. Carbona resigned under certain circumstances constituting good reason, the agreement provided for severance in the amount of $500,000. As of April 22, 2015, Mr. Carbona's employment with the company terminated. In connection with the termination of his employment, we entered into a Severance Benefits Agreement, or severance agreement, with Mr. Carbona. Pursuant to the severance agreement, we agreed to pay Mr. Carbona $535,000, consisting of a $500,000 severance benefit and an additional $35,000 representing the value of accrued and unused vacation and 30 days of base salary. This additional $35,000 payment was paid to Mr. Carbona as a lump sum on May 6, 2015, in

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