EX-10.3
from 10-Q
4 pages
Re: Severance Agreement Dear Peter: Effective as of Your Commencement of Employment With Melinta Therapeutics, Inc. (The “Company”), You Will Be a Key Member of the Senior Management Team of the Company. as a Result, the Company Is Providing You With the Following Benefits in Consideration of Your Employment With the Company. I. Definitions. for the Purposes of This Severance Agreement (This “Agreement”), Capitalized Terms Shall Have the Following Meanings: 1. “Cause” Shall Mean: (A) Your Conviction of or Your Plea of Guilty to or Confession of an Act of Fraud, Misappropriation or Embezzlement or Any Felony; (B) Your Willful Refusal or Failure to Follow a Lawful Directive or Instruction of the Company’s Board of Directors or the Individual(s) to Whom You Report; (C) in Carrying Out Your Duties, You Commit Material Dishonesty or You Breach a Fiduciary Duty to the Company; (D) You Engage in Conduct Which Causes Material Injury to the Company, Monetarily or Otherwise; (E) You Use Illegal Substances at Any Time; or (F) You Materially Breach Any Company Policies Regarding Confidentiality, Insider Trading, Any Employment Agreement With the Company Then in Effect or Your Employee Noncompetition, Nondisclosure and Developments Agreement. 2. “Change in Control” Shall Mean the Date: (A) Any “Person” or “Group” (As Such Terms Are Used in Section 13(d) and 14(d) of the Securities Exchange Act of 1934, as Amended) Is or Becomes the Beneficial Owner of Our Securities Representing 50% or More of the Total Voting Power of the Company’s Then-Outstanding
12/34/56