Employment Offer Letter Agreement between Biogen, Inc. and James C. Mullen (President and CEO Appointment)

Summary

This letter confirms the appointment of James C. Mullen as President and Chief Executive Officer of Biogen, Inc., effective June 16, 2000. Mr. Mullen will receive an annual base salary of $700,000, a target cash bonus equal to 90% of his base salary for the year 2000, and an option to purchase 250,000 shares of Biogen common stock with a seven-year, straight-line vesting schedule. The agreement outlines the key terms of his compensation and role as approved by the Board of Directors.

EX-10.58 5 b38146bgex10-58.txt LETTER AGREEMENT-JAMES C. MULLEN 1 Exhibit 10.58 PERSONAL AND CONFIDENTIAL May 3, 2000 Mr. James C. Mullen 138 Richardson Drive Needham, MA 02492 Dear Jim: As a follow-up to our conversation last Friday, I am pleased to confirm that the Board of Directors has approved your appointment as President and Chief Executive Officer of Biogen, Inc., effective June 16, 2000. Concurrent with the effective date of your appointment, the Board of Directors has also approved an adjustment in your annual base salary to $700,000, and has established a target of 90% of your base salary for your cash bonus in 2000. In addition, you will be granted an option to purchase 250,000 shares of Biogen Common Stock, effective June 16, 2000, with a seven-year, straight-line vesting schedule. Jim, on behalf of the other members of the Board, I wish you the best of success as you take over the leadership of Biogen next month. In the interim, please let me know how I can assist you in the transition to your new role. Sincerely, /s/ James L. Vincent James L. Vincent Chairman and Chief Executive Officer JLV:bk