Offer Letter between Steven Bosacki and the Company, effective as of July 16, 2019
July 16, 2019
Mr. Steven Bosacki
On behalf of BioPharmX, Inc. (the “Company”), I am very pleased to confirm our offer to you of employment with the Company. Subject to your acceptance of this offer and the conditions set forth below, your employment with the Company shall be governed by the following terms and conditions (this “Agreement”).
Subject to the terms of this Agreement and the payment obligations set forth herein, this Agreement will remain in effect until terminated in accordance with the terms of the Agreement. Upon a termination of employment, and to the extent requested in writing by the Company, you agree to resign from all positions you may hold with the Company and any of its subsidiaries or affiliated entities at such time.
[SIGNATURE PAGE TO AGREEMENT FOLLOWS]
/s/ David S. Tierney
David S. Tierney
President and Chief Executive Officer
I, the undersigned, hereby accept and agree to the terms and conditions of my employment with the Company as set forth in this Agreement.
Accepted and agreed July 16, 2019:
/s/ Steven Bosacki
[SIGNATURE PAGE TO AGREEMENT]
In consideration of the termination benefits (the “Benefits”) provided and to be provided to me by BioPharmX Corporation, or any successor thereof (the “Company”) pursuant to my Agreement with the Company dated , 2019 (the “Agreement”) and in connection with the termination of my employment, I agree to the following general release (the “Release”).
[SIGNATURE PAGE TO GENERAL RELEASE AGREEMENT FOLLOWS]
EMPLOYEE’S ACCEPTANCE OF RELEASE
BEFORE SIGNING MY NAME TO THE RELEASE, I STATE THE FOLLOWING: I HAVE READ THE RELEASE, I UNDERSTAND IT AND I KNOW THAT I AM GIVING UP IMPORTANT RIGHTS. I HAVE OBTAINED SUFFICIENT INFORMATION TO INTELLIGENTLY EXERCISE MY OWN JUDGMENT. I HAVE BEEN ADVISED THAT I SHOULD CONSULT WITH AN ATTORNEY BEFORE SIGNING IT, AND I HAVE SIGNED THE RELEASE KNOWINGLY AND VOLUNTARILY.
EFFECTIVE UPON EXECUTION BY EMPLOYEE AND THE COMPANY.
Date delivered to employee ___________, ______.
Executed this ___________ day of ___________, ______.
Your Name (Please Print)
Agreed and Accepted:
[Signature Page to General Release Agreement]