Dr. Merryweather, EVP of sales and marketing, got tired of twiddling his thumbs after the sale of the hardware business:
>>11-Jan-2007
Change in Directors or Principal Officers, Financial Statements and Exhi
Item 5.02 Departure of Directors or Principal Officers; Election of
Directors; Appointment of Principal Officers.
(b) On January 5, 2007, Ciphergen Biosystems, Inc. (the "Company") received the resignation of James P. Merryweather, the Executive Vice President, Sales & Marketing of the Company whose role principally supported the Company's tools business. Concurrent with Dr. Merryweather's resignation, the Company entered into a consulting agreement (the "Consulting Agreement") with him whereby Dr. Merryweather will continue to provide consulting services to the Company as requested for up to six months following his resignation, agree not to compete with the Company or solicit the services of the Company's employees, and provides a general release of claims in favor of the Company. In consideration, Dr. Merryweather will continue to receive compensation at his current base rate of pay during the term of the consulting period.<<
Cheers, Tuck |
