Biogen Letter Agreement with Sylvie Gregoire Regarding Executive Vice President Appointment and Compensation

Summary

This letter agreement from Biogen to Sylvie Gregoire confirms her appointment as Executive Vice President, Technical Operations, effective July 19, 2001. It outlines her new annual base salary of $325,000, a target bonus of 50% of her salary, and the grant of an option to purchase 150,000 shares of Biogen common stock with a four-year vesting schedule. The agreement also notes her eligibility for future salary and stock option reviews at the end of 2002. The letter is signed by Biogen's President and CEO, James C. Mullen.

EX-10.49 14 b45372biexv10w49.txt EX-10.49 LETTER AGREEMENT DATED AUGUST 8, 2001 [BIOGEN LETTERHEAD] EXHIBIT 10.49 August 8, 2001 Ms. Sylvie Gregoire 9 Prospect Street Winchester, MA 01890 Dear Sylvie: I am pleased to advise you that the Compensation and Management Resources Committee has approved your appointment as Executive Vice President, Technical Operations, reporting to me. Effective July 19, 2001, your annual base salary is increased to $325,000 and your target bonus is increased to 50% of base salary under Biogen's management incentive plan. Effective August 8, 2001, the Stock and Option Plan Administration Committee has granted you an option to purchase up to 150,000 shares of Biogen's common stock, with a four year, straight-line vesting schedule. You will next be eligible for both a salary adjustment and merit stock option grant at year-end 2002. On behalf of the Board of Directors, please accept our congratulations and best wishes for success in this important new role. I look forward to your significant leadership and contributions as we continue to build Biogen. Best personal regards. Sincerely, /s/ James C. Mullen ---------------------------------------- James C. Mullen President and Chief Executive Officer JCM:bk cc: Personnel File