Resignation Acknowledgement Letter between CDT and Dr. SB Cha (March 26, 2007)
This letter from CDT acknowledges Dr. SB Cha's resignation as VP, Commercial, effective June 30, 2007. CDT agrees to pay all outstanding salary and holiday pay, and confirms that Dr. Cha's company benefits will end on his last day. Shares granted under the Special Bonus Plan will vest on June 30, 2007, and arrangements will be made for the transfer of additional vested shares. Dr. Cha is reminded to return all company property and uphold confidentiality obligations. The letter expresses appreciation for his service and wishes him well in his future career.
PRIVATE & CONFIDENTIAL
SB Cha
Azabu Terrace AP7 #501
5-16-35 Roppongi.
Minatu-Ku, Tokyo
Japan 106-0032
26 March 2007
Dear SB,
It is with regret that I acknowledge your resignation from your position as VP, Commercial within the Commercial Department at CDT.
We acknowledge that your employment with CDT will terminate on 30 June 2007 and we will ensure that you are paid all monies and outstanding holiday pay due to you.
You should also ensure that any outstanding expenses have been claimed in the usual way before your leaving date. Your membership of all company benefit plans, including medical, will cease with effect from 30 June 2007.
All shares granted to you by way of a letter dated 16 December 2004 pursuant to the Special Bonus Plan will vest upon 30 June 2007. These shares may subsequently become liquid and saleable as outlined in the rules of the Special Bonus Plan.
In addition, you have 5,407 shares vested under the Company's Inc 2004 Stock Incentive Plan. We will contact you in advance of the stock acquisition and liquidity dates of these vested shares to make arrangements for the shares to be transferred to you and in order to ensure that any tax liabilities are met.
I would like to remind you that all documents relating to your employment with CDT should be returned to your line manager before you leave. In addition, you should make arrangements to return all company equipment to head office.
I would also like to remind you of your obligations relating to confidential and proprietary information, details of which were included in your contract of employment which you signed when you joined the company.
I would like to take this opportunity to thank you for the significant commitment you have given to CDT during your employment with us and to send you my very best wishes for your future career.
Yours sincerely
/s/ David Fyfe
David Fyfe
Chief Executive Officer
