Mosaic ImmunoEngineering is a nanotechnology-based immunotherapy company developing therapeutics and vaccines to positively impact the lives of patients and their families.

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Message: Current Attitude

Turleys departure has been a source of confusion for me. Was he asked to leave or did he resign? He was paid 3 months salary which points to him being asked to leave based on the wording of his employment contract. The 10Q states that he resigned. Or he may have been asked to stay until a replacement was found and the company amended his contract and paid him 3 months salary.

9. Compensation Upon Termination.
a. For Other Than Good Cause. In the event Employee receives notice from Employer that his employment is terminated for other than “good cause,” he shall receive his then current salary level for the remaining term of the Agreement provided that Employee signs a release of all claims against PTSC on a release form provided by PTSC to him at that time.
b. For Good Cause. In the event Employee is terminated for good cause as defined in Section 8(e) above, he shall receive notice that his employment is terminated and shall receive two weeks’ pay at his then current wage level, even though the employment terminated at the time notice was provided to Employee. Employee is entitled to no other severance compensation when he is terminated for good cause as defined in Section 8(e) above.
c. Death or Permanent Disability. In the event Employee dies or becomes permanently disabled as defined in this Agreement, PTSC’s obligations hereunder shall terminate after paying Employee any compensation owed through the last day he worked.
d. Resignation. In the event Employer receives notification that Employee is resigning, Employee shall be paid for the remainder of the time he continues to be employed at PTSC, up to a maximum of thirty (30) days.

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