Luminex Corp. has agreed to pay its former CEO more than $58,000 per month for consulting services.
The Austin-based company (Nasdaq: LMNX) disclosed Monday that it will pay Patrick Balthrop the fee one week after he resigned from his position, according to a filing with the U.S. Securities and Exchange Commission.
Balthrop, who has been the head of the biotechnology company for 10 years, will stay on as a consultant to the Luminex board through April 14, 2015.
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