Extension and Amendment of Employment Agreement between DOV Pharmaceutical, Inc. and Paul Schiffrin
DOV Pharmaceutical, Inc. and Paul Schiffrin have agreed to extend Schiffrin's employment agreement, originally dated July 12, 1999, through July 12, 2002. All previous terms remain unchanged except for an increase in Schiffrin's base salary to $180,000 per year and the grant of 5,000 additional stock options. The letter confirms the company's appreciation for Schiffrin's contributions.
Exhibit 10. 34
May 15, 2002
Mr. Paul Schiffrin
34 Robert Drive
Warwick, NY 10990
Dear Mr. Schiffrin
This will confirm the extension of your July 12, 1999, Employee Agreement with DOV Pharmaceutical, Inc. through July 12, 2002. All terms and conditions therein shall remain in full force and effect, except for the increase of your base compensation to $180,000.00 per year. Also you will be granted 5,000 more options.
Again, DOV Pharmaceutical, Inc. as a whole would like to thank you for your efforts and we await with much anticipation your accomplishments in the future.
Sincerely,
/s/ BERNARD BEER
