Severance Agreement between Eden Bioscience Corporation and Dr. Zhongmin Wei (August 1, 2006)
This agreement outlines the severance terms for Dr. Zhongmin Wei, an at-will employee of Eden Bioscience Corporation. If the company terminates Dr. Wei's employment for reasons other than fraud, criminal activity, or breach of fiduciary duties, he will receive his current base salary for six months, paid through regular payroll with standard deductions. The agreement is effective until July 31, 2007.
Exhibit 10.2
August 1, 2006
Dr. Zhongmin Wei
VP of Reseach and CSO
Eden Bioscience Corporation
Dear Zhongmin:
You are an “at-will’ employee of Eden Bioscience Corporation and your employment can be terminated with or without cause at any time at the option of Eden Bioscience or yourself. If your employment is terminated at the option of the Company, your current base salary will be continued for a period of six (6) months, provided that the termination is not based upon fraud, criminal activity or breach of fiduciary duties. The six months severance will be paid in the regular course of the company’s payroll and will be subject to your normal deductions. This severance agreement will terminate on July 31, 2007.
Yours truly,
/s/ Rhett Atkins
Rhett Atkins
President
