Board Observer Rights Agreement between Anacor Pharmaceuticals, Inc. and Stephen Benkovic, Ph.D.
Anacor Pharmaceuticals, Inc. grants Stephen Benkovic, Ph.D. the right to attend its Board of Directors meetings as a nonvoting observer. Anacor may exclude him from meetings or parts of meetings to protect attorney-client privilege or avoid conflicts of interest. Dr. Benkovic agrees to keep all non-public information from these meetings confidential and not to share it without Anacor's written consent. This agreement confirms his ongoing involvement with the company while outlining confidentiality and participation terms.
Exhibit 10.14
May 24, 2009
Stephen Benkovic, Ph.D.
Board Observation Rights
Dear Steve:
Anacor Pharmaceuticals, Inc. ("Anacor") hereby confirms that you are invited to participate in a nonvoting observer capacity meetings of its Board of Directors. Of course, Anacor reserves the right to exclude you from any meeting or portion thereof if Anacor believes that such exclusion is necessary (i) to preserve the attorney-client privilege, or (ii) to avoid a potential conflict of interest. Please confirm that you agree that any non-public information received from Anacor at its Board of Directors meetings will be treated as confidential and will not be disclosed by you or made available to any third party without Anacor's prior written approval and without safeguards for protecting such information. The Board of Directors appreciates your service as a director and looks forward to your continued involvement with Anacor.
| Very truly yours, | ||||||
ANACOR PHARMACEUTICALS, INC. | ||||||
By: | /s/ DAVID PERRY | |||||
| Name: David Perry Title: Chief Executive Officer | ||||||
AGREED AND ACCEPTED: | ||||||
STEPHEN BENKOVIC | ||||||
By: | /s/ STEPHEN BENKOVIC | |||||
