Avalanche Biotechnologies, Inc. Base Salary Increase Letter to Mehdi Gasmi
Avalanche Biotechnologies, Inc. informs Mehdi Gasmi, serving as interim Chief Scientific Officer, that his annual base salary will be increased to $330,000 effective August 15, 2015. This follows a previously awarded special bonus of $100,000. The letter expresses the company's appreciation for his contributions during a transitional period.
Exhibit 10.5
[Avalanche Biotechnologies, Inc. letterhead]
August 11, 2015
Mehdi Gasmi
1035 O’Brien Drive
Suite A
Menlo Park, California 94025
Re: Base Salary Increase
Dear Mehdi:
Pursuant to your Special Bonus Letter, dated July 23, 2015, you were notified of the Special Bonus of $100,000 for your services as interim Chief Scientific Officer.
In addition to the Special Bonus, effective August 15, 2015, the Board of Directors of Avalanche Biotechnologies, Inc. has determined to increase your annual base salary to $330,000 per year.
We greatly appreciate your services to the Company during this transition time.
| Sincerely, |
| /s/ Mark S. Blumenkranz
Mark S. Blumenkranz, M.D. Chairman of the Board |
