Termination Agreement for Consulting Services between Cephalon, Inc. and Martyn D. Greenacre

Contract Categories: Business Operations › Termination Agreements
Summary

Cephalon, Inc. and Martyn D. Greenacre have mutually agreed to end their consulting agreement, originally dated October 1, 2001, and amended twice. The termination is effective as of March 31, 2003. While the consulting relationship ends, Mr. Greenacre will continue to serve on Cephalon's Board of Directors. Both parties acknowledge the conclusion of the agreement and express appreciation for past contributions.

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EX-10.3 5 a03-2396_1ex10d3.htm EX-10.3

EXHIBIT 10.3

 

March 31, 2003

 

 

Martyn D. Greenacre

327 South Valley Road

Paoli, PA 19301

 

 

Re:

 

Termination of Consulting Agreement dated October 1, 2001, as amended April 1, 2002 and December 10, 2002, between Martyn D. Greenacre and Cephalon, Inc. (collectively, the “Agreement”)

 

 

Dear Martyn:

 

Please allow this letter to evidence our mutual agreement to terminate the Agreement effective as of the date hereof.

 

I appreciate the many valuable contributions you have made to Cephalon during the term of this Agreement, and look forward to your continued service as a member of the Board of Directors.

 

 

Very truly yours,

 

 

/s/ Frank Baldino, Jr.

 

Frank Baldino, Jr., Ph.D.

Chairman and Chief Executive Officer

 

 

AGREED AND ACCEPTED:

 

 

/s/ Martyn D. Greenacre

 

Martyn D. Greenacre