Quarterly report pursuant to Section 13 or 15(d)

Separation of David Bupp

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Separation of David Bupp
9 Months Ended
Sep. 30, 2011
Separation of David Bupp
7.
Separation of David Bupp

In March 2011, Neoprobe announced the departure of our then-current President and CEO, David C. Bupp, effective April 15, 2011.  The following table summarizes accrued expenses as of September 30, 2011, including employer payroll tax obligations, related to the provisions of Mr. Bupp’s separation agreement:

   
As of
September 30,
2011
 
Separation
  $ 315,129  
Pro-rated 2011 bonus
    60,870  
Estimated cost of continuing healthcare coverage
    66,158  
    $ 442,157  

Concurrent with Mr. Bupp’s separation, Dr. Mark J. Pykett was named Neoprobe’s new President and CEO, effective April 15, 2011.