Avalanche Biotechnologies, Inc. Special Interim CEO Bonus Agreement with Hans P. Hull
Avalanche Biotechnologies, Inc. has agreed to pay Hans P. Hull a one-time cash bonus of $120,000 for his service as interim Chief Executive Officer and President. This bonus is contingent on his continued employment until a permanent CEO begins work. The payment will be made in a lump sum within ten business days after the new CEO starts. This bonus is separate from his regular salary and annual bonus.
Exhibit 10.2
[Avalanche Biotechnologies, Inc. letterhead]
July 23, 2015
Hans P. Hull, Esq.
1035 O’Brien Drive
Suite A
Menlo Park, California 94025
Re: Special Interim CEO Bonus
Dear Hans:
The Board of Directors of the Avalanche Biotechnologies, Inc. (the “Company”) has determined to grant you a special bonus for your services as interim Chief Executive Officer and President of the Company (the “Special Bonus”). Subject to your continued employment with the Company through the date of commencement of employment of a permanent Chief Executive Officer of the Company, you will be entitled to receive a one-time cash bonus of One Hundred Twenty Thousand Dollars ($120,000), less applicable withholdings, payable in a lump sum within ten (10) business days of such commencement date. This Special Bonus is in addition to your base salary and annual bonus otherwise payable to you.
We greatly appreciate your services to the Company during this transition time.
Sincerely,
/s/ Mark S. Blumenkranz, M.D.
Mark S. Blumenkranz, M.D.
Chairman of the Board
