Date of Report (Date of earliest event reported): December 15, 2009
1301 Harbor Bay Parkway
Registrants telephone number, including area code: (510) 748-7150
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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On December 15, 2009, the Compensation Committee of the Board of Directors of Avigen, Inc. approved 2009 bonuses for each of its two executive officers, Andrew Sauter, Avigens Chief Executive Officer and Chief Financial Officer, and Kirk Johnson, Avigens V.P. Research & Development and Secretary. The bonuses were based on the services rendered in 2009, including the negotiation of the acquisition of Avigen by MediciNova, Inc. The amount of each bonus is $60,000, and the payment of the bonuses is contingent on the closing of the transaction with MediciNova, Inc. In addition, Mr. Sauter will receive $15,000 as the stockholder representative for services rendered following the transaction with MediciNova, Inc.
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.