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Accelrys Inc. Message Board

  • iambcwd iambcwd Jan 6, 2009 7:48 PM Flag

    Nice Work, Mr. CEO

    Looks like the CEO is moving on with about a $2 million dollar payout. Nice work.

    ================================================

    On January 5, 2009, Mr. Mark Emkjer resigned as the Company's President, Chief Executive Officer and as a member of its Board of Directors (the "Board"). In connection with the resignation, on January 6, 2009, Mr. Emkjer and the Company entered into a Separation Agreement and Release (the "Separation Agreement") as contemplated by the employment agreement between the Company and Mr. Emkjer executed on May 21, 2006. Pursuant to the Separation Agreement: (i) Mr. Emkjer will remain employed by the Company until January 31, 2009 to assist with transitioning his duties; (ii) on February 1, 2009, the Company will pay Mr. Emkjer the amount of $315,000, less applicable withholdings; (iii) each month for a period of 12 months following February 1, 2009, the Company will pay Mr. Emkjer the amount of $140,000, less applicable withholdings; and (iv) the Company will pay Mr. Emkjer's COBRA benefits for a maximum of 24 months following the date of the termination of Mr. Emkjer's employment. The Company's obligations to Mr. Emkjer pursuant to the Separation Agreement are contingent upon Mr. Emkjer's abiding by certain non-competition, non-solicitation and non-disparagement obligations for a period of 24 months following the date of the termination of Mr. Emkjer's employment, all as set forth in the Separation Agreement.

 
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