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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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$33 |
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ID: |
#281478 |
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LA JOLLA PHARMACEUTICAL COMPANY
EXHIBIT 10.43
February 9, 2001
Paul Jenn, Ph.D.
La Jolla Pharmaceutical Company
6455 Nancy Ridge Drive
San Diego, CA 92121
Re: Severance Agreement
Dear Paul,
As a supplement to the offer letter and agreement dated September 8,
1994 between La Jolla Pharmaceutical Company ("LJP") and Paul Jenn, Ph.D.
("Jenn") related to Jenn's employment by LJP, Jenn and LJP hereby agree as
follows:
In connection with his employment with LJP, Jenn's new title will be
Vice President of Operations.
If Jenn's employment is terminated by LJP without cause (as defined
below), or if a Change in Control of LJP (as defined below) occurs and Jenn'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) Jenn will be entitled to receive from LJP a severance
payment equal to his 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 he 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 Jenn and LJP of a mutual release, in form
satisfactory to LJP, of all claims arising in connection
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