Letter Agreement Between Edward M. Hurwitz and ACLARA BioSciences, Inc. Regarding Post-Board Advisory Services
This agreement between Edward M. Hurwitz and ACLARA BioSciences, Inc. states that if Mr. Hurwitz's service on the board of directors ends after the current term (ending at the 2003 annual shareholders meeting), he will continue to provide advice and consultation to the company for two years. During this period, his stock options will stop vesting but remain exercisable, and he will not receive cash compensation. His advisory services are limited to a maximum of four hours per month.
EXHIBIT 10.38
[GRAPHIC REMOVED HERE]
November 27, 2002
Ed Hurwitz
177 Watkins Ave
Atherton, CA 94027
Dear Ed,
This letter supplements your employment letter dated October 29, 2002. It is agreed that in the event that your service on the board of directors does not extend beyond the current term (which ends at the 2003 annual shareholders meeting) you will continue to provide advice and consultation in an employment capacity to ACLARA BioSciences, Inc. for a period of two years (which period is referred to herein as the “Additional Period”). Your options will cease to vest but will continue to be exercisable during the Additional Period. No cash compensation will accrue during the Additional Period, and your services will be limited to being available for advice and consultation up to a maximum of four hours per month.
Sincerely,
/s/ Thomas Baruch
Thomas Baruch
Chairman
| Accepted: /s/ Edward Hurwitz | Date: 12/12/02 |
