Entitlements and Obligations. Regardless of whether you enter into an agreement with the Company, the Company shall: · pay you salary that accrues to you through the date of termination of your employment; · pay you for all accrued but unused vacation time due to you through the date of termination of your employment; · provide you with the right to continue group medical and dental care coverage after the termination of your employment under the law known as “COBRA,” which will be described in a separate written notice; and · reimburse you for any outstanding, reasonable business expenses that you have incurred on the Company’s behalf through the termination of your employment, after the Company’s timely receipt of appropriate documentation pursuant to the Company’s business expense reimbursement policy. You shall also have the right to exercise any and all vested options that you hold to purchase common stock of the Company and to retain vested restricted stock pursuant to and subject to the terms as set forth in the Incentive Stock Option Agreements dated October 2, 2013 and January 27, 2014; the Non-Qualified Option Agreements dated October 2, 2013 and January 27, 2014; and the Restricted Stock Agreement dated October 2, 2013 (collectively the “Equity Grants”). Consistent with the terms of the Equity Grants, you will not vest further in any Equity Grants beyond the last day of your employment. ▇▇▇▇ ▇. ▇▇▇▇▇▇ ▇▇., Ph.D. October 28, 2014 For your part, you are subject to continuing obligations under your Anika Therapeutics, Inc. Non-Disclosure and Non-Competition Agreement (the “Non-Disclosure and Non-Competition Agreement”), including your obligations to maintain the confidentiality of Company confidential information, return Company documents and other property and, for twelve months after employment ends, refrain from certain competitive activities.
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Entitlements and Obligations. Your employment with the Company is ending effective on January 30, 2018 (“Separation Date”). The Company has paid you for all salary accrued through that date and all accrued but unused vacation time. Regardless of whether you enter into an agreement with the Company, the Company shall: · pay you salary that accrues to you through the date of termination of your employment; · pay you for all accrued but unused vacation time due to you through the date of termination of your employment; · provide you with the right to continue group medical and dental care coverage after the termination of your employment under the law known as “COBRA,” which will be described in a separate written notice; and · • reimburse you for any outstanding, reasonable business expenses that you have incurred on the Company’s behalf through the termination of your employment, after the Company’s timely receipt of appropriate documentation pursuant to the Company’s business expense reimbursement policy. You shall also have the right to exercise any and all vested options that you hold to purchase common stock of the Company and to retain vested restricted stock pursuant to and subject to the terms certain rights as set forth a terminated employee in the Incentive Stock Option Agreements dated October 2Company’s Section 401(k) plan, 2013 and January 27, 2014; the Non-Qualified Option Agreements dated October 2, 2013 and January 27, 2014; and the Restricted Stock Agreement dated October 2, 2013 (collectively the “Equity Grants”). Consistent which shall not be affected by whether or not you enter into an agreement with the terms of the Equity Grants, you will not vest further in any Equity Grants beyond the last day of your employmentCompany. ▇▇▇▇ ▇. ▇▇▇▇▇▇ ▇▇., Ph.D. October 28, 2014 For your part, you are subject to continuing obligations under your Anika Therapeutics, Inc. Non-Disclosure and Competition/Non-Competition Disclosure/Invention Assignment Agreement with the Company dated May 1, 2017 (the “Non-Disclosure and Non-Competition Agreement”), including your obligations to maintain the confidentiality of Company confidential information, return Company documents and other property andand to adhere to certain non-competition and non-solicitation obligations. Please note that your obligation to return Company property under Section 2 of the Non-Competition Agreement includes, for twelve without limitation, your obligation to return all Company equipment that is currently in your possession. Any stock options to purchase shares of the Company’s common stock pursuant to the stock option agreements (“Stock Options”) that have been granted to you prior to the Separation Date that have not vested and become exercisable on or prior to the Separation Date shall, in accordance with the terms of each such grant, be forfeited on the Separation Date and shall not thereafter become vested or exercisable. With respect to any Stock Options that have been granted to you prior to the Separation Date that are vested and exercisable as of the Separation Date, unless exercised prior to the date that is three (3) months following the Separation Date (the “Expiration Date”), all such Stock Options shall expire and may not be exercised after employment ends, refrain from certain competitive activitiesthe Expiration Date.
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