Addendum to Employment Agreement Between Christopher K. McLeod and CuraGen Corporation
This addendum updates the employment agreement between Christopher K. McLeod and CuraGen Corporation. Effective January 31, 2005, McLeod’s base salary is increased to $322,000 per year, payable in bi-weekly installments, due to his appointment as Interim CEO & President of 454 Life Sciences Corporation. All other terms of the original agreement, unless previously amended, remain unchanged.
Exhibit 10.2
Confidential
Interoffice Memorandum
To: | Personnel File | |
From: | Christopher K. McLeod, Interim CEO & President of 454 Life Sciences Corporation | |
Date: | February 1, 2005 | |
Re: | Amendment to Employment Agreement dated April 1, 2002 |
I, Christopher K. McLeod, (the Executive) signed an Employment Agreement (the Agreement) with my employer, CuraGen Corporation (the Company), on or about April 1, 2002, and subsequently signed an Addendum to the Agreement on October 31, 2003. Exhibit A, Item 1) of the original Agreement provides that the Executives initial base salary shall be subject to increases by the Board of Directors, which shall review the salary periodically. Therefore, pursuant to the minutes of the January 25, 2005, Meeting of the Compensation Committee of the Board of Directors, the Executives 2005 base salary was adjusted to $286,000 per year, payable in bi-weekly installments. However, effective January 31, 2005, as a result of being named Interim CEO & President of 454 Life Sciences Corporation the Executives base salary was increased to $322,000, which is payable in bi-weekly installments.
Unless explicitly changed in the Addendum dated October 31, 2003, all other terms of the original Agreement shall remain in full force and effect.
/s/ Christopher K. McLeod |
Christopher K. McLeod |
/s/ Jonathan M. Rothberg |
Jonathan M. Rothberg |