Consulting Agreement between BioCardia, Inc. and Dr. Eric Duckers (February 2021)
BioCardia, Inc. entered into a consulting agreement with Dr. Eric Duckers, its former Chief Medical Officer, effective February 15, 2021. Dr. Duckers will advise the executive steering committee for the CardiAMP Heart Failure clinical study as needed and will be paid $400 per hour. Either party can end the agreement with thirty days' written notice. Upon termination, Dr. Duckers will be paid only for services provided. His equity awards stopped vesting on the agreement's start date, and he has 90 days to exercise any outstanding awards.
Exhibit 10.11
SUMMARY OF CONSULTING AGREEMENT
On Feb 15, 2021 (the “Effective Date”), BioCardia, Inc. (the “Company”) entered into a consulting agreement (the “Consulting Agreement”) with Dr. Eric Duckers, former Chief Medical Officer of the Company. Dr. Duckers resigned as Chief Medical Officer of the Company, effective as of February 15th, 2021.
Pursuant to the terms of the Consulting Agreement, Dr. Duckers will serve as an advisor to the executive steering committee of the CardiAMP Heart Failure clinical study on an as-needed and ongoing basis and will be paid $400 per hour.
Either Dr. Duckers or the Company may terminate the Consulting Agreement at any time and for any reason upon thirty days advance written notice. Upon such termination, Dr. Duckers will be paid for services actually rendered and will not be entitled to any additional compensation.
Dr. Ducker’s outstanding equity awards ceased vesting as of the Effective Date, and he will be able to exercise any outstanding equity awards for a period of ninety (90) days following the Effective Date.
