On January 12, 2018, BioDelivery Sciences International, Inc. and Niraj Vasisht, the company's Senior Vice President and Chief Technology Officer, executed a Retirement Agreement memorializing the terms of Vasisht's voluntary retirement from the company, which will be effective February 4, 2018. Pursuant to the Retirement Agreement, Vasisht will continue to serve as the Company’s Senior Vice President and Chief Technology Officer during the Transition Period.