UNITED STATES
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CURRENT REPORT
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Item 8.01. Other.
On April 11, 2022, James O’Leary, M.D. tendered his resignation as Chief Medical Officer of Fusion Pharmaceuticals Inc. (the “Company”) effective June 30, 2022 (“Exit Date”). In connection with Dr. O’Leary’s resignation, the Company plans to enter into a separation agreement (the “Separation Agreement”) and consulting agreement (the “Consulting Agreement”) with Dr. O’Leary.
Pursuant to the Separation Agreement, Dr. O’Leary will receive a one-time payment of $75,000 and insurance benefits pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985 through December 31, 2022. Pursuant to the Consulting Agreement, Dr. O’Leary is expected to provide consulting services for the Company through December 31, 2022 at an agreed upon hourly rate. In further consideration for Dr. O’Leary’s services as a consultant, (i) all his options shall continue to vest through December 31, 2022 and (ii) the vesting of his initial option grant shall be accelerated through March 31, 2023. Dr. O’Leary’s options shall be exercisable for 90 days following the termination of his consultancy. Dr. O’Leary will not receive any severance benefits upon his termination under his existing employment agreement with the Company.
Effective immediately, Dr. Joanne Schindler, who currently serves as Vice President, Medical Director, has been promoted to Executive Vice President, Medical Director & Clinical Development. Dr. O’Leary is expected to transition to Dr. Schindler full responsibility for all of the Company’s clinical trials and for the day-to-day operations of the clinical and regulatory functions prior to his Exit Date.
The Company has engaged a global executive search firm to aid the Company in its search for a new chief medical officer.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Fusion Pharmaceuticals Inc. | ||||||
| Date: April 13, 2022 | By: | /s/ Maria Stahl | ||||
| Maria Stahl | ||||||
| Chief Legal Officer | ||||||