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.
I agree with the outside China sales. Sinopharm is in several other countries. Zadaxin is approved in very many countries but don't have a meaningful presence. From what I undersatnd, Sinopharm has a huge sales force. It's a reasonable assumption that the market for Zadaxin could expand through their relationship with Sinopharm.
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.