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Document Preview Severance Agreement |
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Title: |
Severance Agreement |
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Entities: |
Curis, Inc.; Andrew C.G. Uprichard |
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Date: |
2001 |
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Size: |
Preview shows 3KB of 7KB total |
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Price: |
$36 |
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ID: |
#288392 |
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CURIS, INC.
Severance Agreement
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THIS SEVERANCE AGREEMENT by and between Curis, Inc., a Delaware corporation
(the "Company"), and Andrew C.G. Uprichard (the "Executive") is made as of
November 20, 2000 (the "Effective Date").
WHEREAS, the Board of Directors of the Company (the "Board") has determined
that appropriate steps should be taken to reinforce and encourage the continued
employment and dedication of certain of the Company's key personnel; and
WHEREAS, the Company wishes to provide the Executive with severance pay in
the event of the Executive's separation from the Company under the circumstances
provided for herein;
NOW, THEREFORE, in consideration of the Executive's continued employment by
the Company and other good and valuable consideration, the sufficiency of which
is hereby acknowledged, the parties agree as follows:
1. Term of Agreement. This Agreement, and all rights and obligations of
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the parties hereunder, shall take effect upon the Effective Date and shall
expire at midnight on November 20, 2001 (the "Expiration Date").
2. Not an Employment Contract. The Executive acknowledges that this
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Agreement does not constitute a contract of employment or impose on the Company
any obligation to retain the Executive as an executive or employee of the
Company and that this Agreement does not prevent the Executive from terminating
his employment with the Company at any time.
3. Termination For Cause or Voluntary Departure Prior to the Expiration
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Date. In the event that prior to the Expiration Date (a) the employment of the
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Executive is terminated by the Company for Cause (defined below) or (b) the
Executive voluntarily terminates his employment with the Company, the Company
shall pay to the Executive the compensation and benefits otherwise payable to
him through the last day of his or her actual employment by the Company. For
the purposes of Sections 3 and 4, the term "Cause" shall mean (a) a good faith
finding by the Company that the Executive has engaged in dishonesty, gross
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