SEPARATION OF EMPLOYMENT AGREEMENT



         THIS SEPARATION OF EMPLOYMENT AGREEMENT (the "Agreement") is made as of

May 18, 2001 between Neose Technologies, Inc., a Delaware corporation (the

"Company"), and Eric Sichel ("Employee").



                                   Background



         By mutual consent, Employee's employment with the Company as Vice

President, Corporate Communications and Business Strategy, will terminate as of

5:00 p.m., Philadelphia time, on June 30, 2001 (the "Effective Date"). The

parties are entering into this Agreement to set forth the terms and conditions

of the termination.



                                      Terms



         NOW, THEREFORE, in consideration of the covenants and conditions set

forth in this Agreement, the parties, intending to be legally bound, agree as

follows:



1. Termination of Employment. Employee's employment with the Company will

terminate as of the Effective Date. Employee hereby confirms that he voluntarily

and irrevocably has resigned, as of the Effective Date, any and all positions he

holds with the Company. Except as expressly provided in this Agreement, all

rights and obligations of the Company and Employee with respect to such

employment will be effectively terminated on the Effective Date.



2. Period Through Termination. From the date hereof through the Effective Date,

Employee will remain employed by the Company, but will not be required to be

present at the offices of the Company, or to perform his regular duties and

responsibilities. During such time, Employee will be available by telephone as

reasonably necessary during normal business hours to consult with the Company.



3. Rights to Severance. Employee understands and acknowledges that, in

consideration for signing this Agreement, Employee is receiving rights which he

is not otherwise entitled to receive, and that payments made or to be made and

benefits provided or to be provided hereunder are in lieu of any and all

compensation and benefits due to Employee under the terms of any agreement,

arrangement or understanding (whether written or oral) binding upon the Company

and Employee.



4. Payments.



         4.1 Lump Sum. On the Effective Date, Neose will pay to Employee as

severance a lump sum payment of $82,500, an amount equal to his current base

salary for the period from July 1, 2001 through November 15, 2001, less

applicable withholding.

Home        Intelligence        Services        Subscriptions        News        About Us

Contact Us       Terms of Use       Resend Documents       Shopping Cart

Copyright © 2008 The Consus Group LLC