Summary
BeiGene, Ltd. (ONC) announced on December 8, 2023, the execution of a 2024 Consulting Agreement with Dr. Xiaodong Wang, a key figure in the company as co-founder, director, and Chairman of the Scientific Advisory Board. This agreement renews his existing consulting arrangement, which is set to expire at the end of 2023, on substantially similar terms. Dr. Wang will continue to offer scientific and strategic advisory services. The agreement provides for an annual fixed consulting fee of $100,000, with the possibility of additional compensation at the company's discretion, subject to stock exchange rules. The new agreement is effective from January 1, 2024, and will run until December 31, 2026. This renewal underscores the company's continued reliance on Dr. Wang's expertise in guiding its scientific direction.
Key Highlights
- 1BeiGene (ONC) has renewed its consulting agreement with Dr. Xiaodong Wang, co-founder and Chairman of the Scientific Advisory Board.
- 2The new agreement, effective January 1, 2024, will run for three years, expiring on December 31, 2026.
- 3Dr. Wang will continue to provide scientific and strategic advisory services.
- 4The annual fixed consulting fee remains $100,000, with potential for additional discretionary compensation.
- 5The terms are substantially similar to the previous consulting agreement.
- 6The company retains the right to terminate the agreement with 30 days' notice.
- 7The full agreement will be filed in a subsequent filing or amendment.