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Document Preview Letter Agreement Re: Severance Agreement |
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Title: |
Letter Agreement Re: Severance Agreement |
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Date: |
2001 |
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Preview shows 2KB of 7KB total |
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Price: |
$33 |
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ID: |
#281477 |
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Theodora Reilly
La Jolla Pharmaceutical Company
6455 Nancy Ridge Drive
San Diego, CA 92121
Re: Severance Agreement
Dear Theodora,
As a supplement to the offer letter and agreement dated August 13, 1998
between La Jolla Pharmaceutical Company ("LJP") and Theodora Reilly ("Reilly")
related to Reilly's employment by LJP, Reilly and LJP hereby agree as follows:
In connection with her employment with LJP, Reilly's new title will be
Vice President of Human Resources.
If Reilly's employment is terminated by LJP without cause (as defined
below), or if a Change in Control of LJP (as defined below) occurs and Reilly's
employment with LJP or its successor "terminates in connection with" (as defined
below) that Change in Control and in the absence of any event or circumstance
constituting Cause, then:
(i) Reilly will be entitled to receive from LJP a severance
payment equal to her then-current base salary for a period
of six full calendar months from the date of termination and
an additional three full calendar months if and when after
the first six months she has not found suitable employment,
payable consistent with LJP's normal payroll practices,
provided that such payment will be contingent upon execution
and delivery by Reilly and LJP of a mutual release, in form
satisfactory to LJP, of all claims arising in connection
with Reilly's employment with LJP and termination thereof,
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