Amicus Therapeutics Retention Bonus Agreement with Jay Barth, MD (March 2016)
Amicus Therapeutics is awarding Jay Barth, MD, its Chief Medical Officer, a $200,000 retention bonus, to be paid on March 25, 2016. Dr. Barth agrees to repay the full bonus if he leaves the company voluntarily or is terminated for cause within 12 months, or repay 50% if this occurs within 12 to 24 months. The company may deduct the repayment from any amounts owed to Dr. Barth, as allowed by law. This agreement is intended to recognize Dr. Barth's contributions and encourage his continued employment.
Exhibit 10.1
DATE: March 10, 2016
TO: Jay Barth, MD
Chief Medical Officer
FROM: John Crowley
Chairman and Chief Executive Officer
SUBJECT: Retention Bonus
Dear Jay,
Thank you for all of your hard work and dedication to Amicus! To recognize your achievements and the important long term role you play with Amicus, you will receive a retention bonus of $200,000. You will receive this bonus in the March 25, 2016 payroll, less applicable state and federal taxes.
In accepting this bonus, you agree that if you voluntarily leave for any reason, or if you are terminated for cause, within 12 months of receiving the payment of this bonus, you will repay Amicus in full, and if you voluntarily leave, or if you are terminated for cause, within 12-24 months of receiving the bonus payment, you will repay 50% of the bonus. In addition, in the event you voluntarily leave or are terminated for cause within 12-24 months of payment of the bonus, Amicus will offset the applicable repayment amount from any amounts owed to you, to the extent permitted by applicable law.
Congratulations and we thank you for your continued contributions to Amicus.
Yours Sincerely,
| /s/ John Crowley |
|
|
|
|
| John Crowley |
|
| Chairman and Chief Executive Officer |
|
Please sign below acknowledging your acceptance of the terms set forth in this letter.
| /s/ Jay Barth | 3/14/16 |
|
| Jay Barth, MD | Date |
|
1 Cedarbrook Drive, Cranbury, NJ 08512 ###-###-####
www.amicusrx.com
