The filing states that the affair is a "developing personal relationship." If it's ongoing and on good terms, why does the Board need to pay Burris not to sue? Smells like a shakedown to me.
"If Ms. Burris agrees to release all claims against the Company, the Company has agreed to engage Ms. Burris as a consultant for a period of one year, beginning on the date she agrees to release all claims ... . Following the end of the consultancy, if Ms. Burris agrees to release all claims against the Company, the Company will pay Ms. Burris a lump sum payment of approximately $410,000, which is consistent with the severance payment in her prior employment contract ..."
Why couldn't Cormack be like other CEOs and just bang his secretary? Biotech investing is risky enough.
BTW, anyone seen her picture (Google it)? What a waste of money!