FORM OF AGREEMENT REGARDING SEVERANCE ARRANGEMENTSSeverance Agreement • May 14th, 2009 • Northfield Laboratories Inc /De/ • Biological products, (no disgnostic substances)
As we have discussed, due to recent regulatory developments adversely affecting Northfield’s business and the company’s limited financial resources, Northfield’s board of directors has authorized management to pursue an orderly winding up of the company’s business. Northfield is accordingly terminating the current employment relationship of each of our executive officers. As a result, your employment as an officer and employee of Northfield will terminate as of May 8, 2009.
