|
|
|
|
Document Preview Executive Employment Agreement |
||||
|
|
||||
|
Click "Add to Cart" button to purchase document. |
||||
|
|
||||
|
Title: |
Executive Employment Agreement |
|||
|
Entities: |
||||
|
Date: |
2002 |
|||
|
Size: |
Preview shows 5KB of 21KB total |
|||
|
Price: |
$31 |
|||
|
ID: |
#326439 |
|||
|
|
||||
|
||||
|
|
||||
|
Start of Preview |
||||
EXECUTIVE EMPLOYMENT AGREEMENT
THIS EXECUTIVE EMPLOYMENT AGREEMENT ("Agreement") is made and entered into as of the 26th day of October, 2001, by and between SEATTLE GENETICS, INC., a Delaware corporation ("Company") and CLAY B. SIEGALL ("Executive").
A. The Company desires that Executive continue his services as the President and Chief Scientific Officer of the Company, having been duly appointed to such position by the Board of Directors of the Company.
B. Executive desires to continue in such engagement.
C. This Agreement contains other provisions applicable to the employment of Executive by the Company.
In consideration of the above Recitals and the provisions of this Agreement, the Company and Executive agree as follows:
I. DUTIES
1.1 Title and Responsibilities. Executive shall serve as President and Chief Scientific Officer of the Company. Executive's responsibilities and duties shall include those inherent in Executive's position with the Company and shall further include such other managerial responsibilities and executive duties consistent with such position as may be assigned to him from time to time by the Chairman of the Board or the Board of Directors of the Company. Executive shall devote his best efforts and full business time to the business and interests of the Company. During the term of his employment with the Company, Executive may serve on the board of directors of other companies, manage personal investments, and engage in civic and charitable activities, provided that such activities shall not represent a conflict of interest with the Company and do not materially detract from fulfilling Executive's responsibilities and duties to the Company.
1.2 Board of Directors. The Board of Directors of the Company shall take whatever steps are necessary to continue to nominate Executive for election to the Board of Directors of the Company in every election of Executive's class of directors presented to stockholders following execution of this Agreement.
II. COMPENSATION
2.1 Base Salary. Executive shall be paid a base salary ("Base Salary") by the Company during the term of Executive's employment with the Company at the rate of Two Hundred Ten Thousand and 00/100 Dollars ($210,000.00) per year. Executive's Base Salary shall be reviewed annually by the Board of Directors and evaluated based on performance and salary levels of other executives of comparable position within the industry and geographic location of the Company. Based upon such evaluation and review, Executive's Base Salary may be increased from time to time as determined by the Board of Directors of the Company in its sole discretion.
2.2 Bonus. In addition to Base Salary, Executive may receive an annual bonus ("Bonus") based upon performance criteria and financial and operational results of the Company as determined by the Board of Directors of the Company.
|
End of Preview |
Home Intelligence Services Subscriptions News About Us