Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 20, 2018, following the previously disclosed resignation of Mary Kay Fenton as executive vice president and chief financial officer of Achillion Pharmaceuticals, Inc. (the “Company”), which resignation is effective on December 28, 2018, the Company entered into a letter agreement with Ms. Fenton which confirms the terms of her transition and separation. Pursuant to the letter agreement, Ms. Fenton will be entitled to receive benefits in connection with her transition and separation that are substantially comparable to the benefits she would have received had she been terminated without cause or resigned her employment for good reason, as described in her amended and restated employment agreement, dated August 4, 2017, the terms of which were previously disclosed in the Company’s Form10-Q for the quarterly period ended June 30, 2017, filed with the Securities Exchange Commission on August 8, 2017, and are incorporated by reference herein. In addition, pursuant to the letter agreement, following the effective date of her resignation, Ms. Fenton will have 180 days to exercise any vested options to purchase shares of the Company’s common stock. Ms. Fenton also agreed to execute a release of all claims in favor of the Company. If, following her resignation, Ms. Fenton does not execute such release of claims or revokes such release of claims, she will forfeit the right to receive all transition and separation benefits in accordance with the terms of the letter agreement.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
