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Separation Agreements
12 Months Ended
Jun. 30, 2012
Separation Agreements  
Separation Agreements

Note 12 – Separation Agreements

 

In May 2011, we entered into a separation agreement with Ahmed Hamdy, our Chief Medical Officer.  Under the agreement, Dr. Hamdy received a severance payment of approximately two months of salary.

 

In October 2009, we entered into a separation agreement with Glenn Rice, our President and Chief Operating Officer.  Under the agreement, Dr. Rice continued to provide services through February 2010 and vesting was accelerated on certain outstanding options.  We recorded approximately $200,000 in additional share-based compensation expense related to this agreement in fiscal 2010.