SciClone gets nothing for signing away exclusive rights to Zadaxin for China - worth several millions of $s. Good-bye to buyout prospects - who wants a company whose only profitable product must be sold to only one (very powerful) buyer? Another self-inflicted fiasco. I guess that's why Titus is being shown the door - rightly or wrongly.
usualsuspect - my read of this agreement is inline with yours, it is a good agreement. The good point is the agreement specifies a minimum amount of Zadaxain is to be purchased by the re-exporter. A floor for Zadaxain sales will be good for the Company. Overbuying must have occured but, the sale of Zadaxain at a minimum amount will get the parties to work at selling to other non-regular customers. Sales stand a chance to stabilize and to grow with renewed efforts. A channel for other company products is likely from this deal. The channel for more sales could extend outside China. More management guidance is to be expected.
Gary's comp package for staying through May equates to what SciClone is obligated to pay him for "termination without cause" in the severance agreement he's had since about 2009. The dates and portions of the money were moved around to make it look better for Gary's new job search.