Amendment to Offer Letter Regarding Relocation Expense Repayment – Cubist Pharmaceuticals and Santosh J. Vetticaden
This letter agreement between Cubist Pharmaceuticals and Santosh J. Vetticaden amends Dr. Vetticaden's prior offer letter. It states that if there is a change in control of Cubist, Dr. Vetticaden will not have to repay any relocation expenses, including a specific payment of $87,250 and related tax gross-up, previously covered by Cubist. All other terms of the original offer letter remain unchanged.
June 23, 2009
Santosh J. Vetticaden, Ph.D., M.D.
Dear Santosh,
As discussed, this letter amends your November 12, 2008 offer letter, as amended by the April 13, 2009 amendment (collectively, the “offer letter”), as follows: In the event of a change in control of Cubist, you will not be required to repay any of the relocation expenses covered by Cubist, including the relocation payment of $87,250 (and the gross-up on taxes that arise from this payment) made to you in connection with the April 13, 2009 amendment to your offer letter. All of the other terms and provisions of your offer letter remain in full force and effect.
| Sincerely, |
|
|
|
|
| /s/ Michael W. Bonney |
|
|
|
|
| Michael W. Bonney |
|
| President and Chief Executive Officer |
|
I acknowledge and agree to the terms and conditions of this letter.
| Signed: | /s/ Santosh J. Vetticaden |
|
|
| Santosh J. Vetticaden, Ph.D., M.D. |
|
