This is a great post. Thanks. It fits that he
Post# of 30028
It fits that he would resign if his consulting gig is up. And we obviously have no money to renew.
Quote:
Perhaps Dr. Lowe's consulting expertise had simply reached it's logical conclusion.
From the original consulting agreement with Dr. Lowe:
Quote:
Effective November 16, 2014, Amarantus BioScience Holdings, Inc. (the “Company”) entered into a Consulting Agreement (the “Consulting Agreement”) with NeuroAssets SARL (“NeuroAssets”), a company registered in Vevey, Switzerland, pursuant to which the Company has engaged NeuroAssets, on a non-exclusive basis, to provide the Company with certain consulting services, including services related to: gathering and processing of scientific literature and information, sourcing and due diligence regarding potential acquisitions and/or licensing, development of clinical and preclinical programs, performance of research, assistance with intellectual property and fundraising, and other strategic initiatives (the “Services”).
The Consulting Agreement shall have a term which commences on November 1, 2014 and terminates on October 31, 2015 , which may be earlier terminated or extended by mutual agreement of the parties (the “Term”). Either party may terminate the Consulting Agreement for any reason upon sixty (60) days written notice to the other party. Pursuant to the terms of the Consulting Agreement, Dr. David Lowe, a member of the Company’s Board of Directors, will devote 60% of his time to performing the Services and will assume the role of President of Amarantus Europe, which will be formed as a wholly owned subsidiary of the Company.
As consideration for the Services, NeuroAssets shall receive from the Company: (i) seventeen thousand two hundred and fifty ($17,250) dollars per month for the duration of the Term, and (ii) a bonus of sixty thousand ($60,000) dollars if and when the Company obtains listing to either the New York Stock Exchange or the NASDAQ Stock Market. The Company shall reimburse NeuroAssets for all pre-approved expenses entailed by NeuroAssets throughout the Term.
Pursuant to the Consulting Agreement, NeuroAssets has agreed that (i) certain proprietary information obtained during the term shall be kept confidential, and (ii) all such proprietary information and all work product produced by either the Company or NeuroAssets pursuant to the Consulting Agreement shall remain the property of the Company.
The foregoing description of the Consulting Agreement does not purport to be complete and is qualified in its entirety by reference to the complete text of the Consulting Agreement, which is filed as Exhibit 10.1 hereto, and which is incorporated herein by reference.
www.sec.gov/Archives/edgar/data/142481...055_8k.htm
According to the agreement, Dr. Lowe would have been required to inform the company 2 months ago of his intended departure. And it looks like the original plan was for a 1-year consultation with the option of extending the term or early termination. There could be any number of reasons for his departure. Perhaps Gerald's upcoming blog will shed some light, and there's more to this than a director jumping off a sinking ship, as some are claiming.