Eagle Pharmaceuticals, Inc. Employment Offer Letter to Dr. Steven L. Krill (Vice President, Pharmaceutical Development)
Eagle Pharmaceuticals, Inc. offers Dr. Steven L. Krill the position of Vice President, Pharmaceutical Development, reporting to the Chief Scientific Officer. The agreement outlines an annual salary of $260,000, eligibility for company benefits, participation in bonus and stock option programs, three weeks of paid vacation, and up to $20,000 in relocation reimbursement. Employment is at-will and contingent on proof of U.S. work eligibility and execution of a confidentiality and restrictive covenant agreement. The offer is formalized upon Dr. Krill's acceptance and signature.
Exhibit 10.8
EAGLE PHARMACEUTICALS, INC.
470 Chestnut Ridge Road
Woodcliff Lake, N J 07677
201 ###-###-####
fax ###-###-####
September 7, 2011
Dr. Steven L. Krill
33215 Sea Bright Drive
Irvine, CA 92618
Dear Steven:
I am pleased to extend this offer to you to become Vice President, Pharmaceutical Development with Eagle Pharmaceuticals, Inc. The following would be the basic terms of your employment with the Company contingent upon proof of eligibility for U.S. employment and the completion of satisfactory references:
Department: Research & Development
Reporting to: Chief Scientific Officer
Start Date: TBD
Initial Salary: $260,000 annually, to be reviewed on an annual basis and adjusted by Eagle to reflect performance and responsibilities. Any salary increases received during the first year of employment will be pro-rated.
Benefits: You will be eligible for the Companys health insurance program for you and your eligible dependents starting on your date of employment.
Additionally, you may participate in the Companys 401(k) plan, life insurance plan, and long-term disability plan upon meeting the Companys specified eligibility requirements for each plan. You will be eligible for any equity or cash bonus programs that may be available.
Vacation: You will be eligible for three (3) weeks of paid vacation annually.
Stock Options: It will be recommended to the Board of Directors that you be granted options to purchase 50,000 shares of Eagle common stock at an exercise price equal to market price on date of approval by the Board of Directors. Upon approval, your options will vest over a four (4)-year period at 25% per year.
Relocation Expenses: In an effort to make your transition to working at Eagle as easy as possible, the Company will reimburse you for moving costs and temporary housing expenses, not to exceed $20,000.
As a condition of your employment with Eagle, you will be required to execute the Companys standard Trade Secret, Non-Disclosure and Restrictive Covenant Agreement.
Your employment with the Company is not for a specified term and may be terminated by you or the Company at any time for any reason, with or without cause. The nature of your employment is as set forth in this paragraph and cannot be modified in any way except by a written agreement signed by you and an officer of the Company.
If you accept this offer of employment, please sign below and return the signed copy to me as soon as convenient. Once signed by you, this letter will constitute the complete agreement between you and the Company regarding employment matters or oral agreements or understandings on these matters.
All new hires are required to prove eligibility to work in the United States in accordance with Federal law. On your first day of employment, please provide us with employment eligibility documentation.
We are extremely excited about the opportunity we have to build Eagle into a leading specialty pharmaceutical company. One of the keys to accomplishing this is through the recruitment and retention of talented people. We are looking forward to having you join us and hope that you will accept our offer.
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| Sincerely, |
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| /s/ Scott Tarriff |
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| Scott Tariff |
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| President and C.E.O |
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Accepted and Agreed this 21 day of September, 2011 |
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/s/ Steven L. Krill |
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Steven L. Krill |
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