Special One-Time Bonus Memorandum for Deborah Burke – Exelixis, Inc.

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

Exelixis, Inc. is offering Deborah Burke a special one-time bonus of $30,000 for serving as Interim Chief Financial Officer during the search for a permanent CFO. The bonus is split into two $15,000 payments, contingent on her active employment at the time of each payment, unless she is involuntarily terminated without cause. This bonus is in addition to any other corporate bonuses she may receive.

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EX-10.9 9 exel20140630exhibit109.htm SPECIAL ONE-TIME BONUS MEMORANDUM FOR DEBORAH BURKE DATED MAY 15, 2014 EXEL 2014.06.30 Exhibit 10.9


Exhibit 10.9



MEMORANDUM



To:    Debbie Burke
From:    Laura Dillard
Vice President, Human Resources
Date:    5/16/2014

RE:    Special One-Time Bonus


In recognition of your anticipated service as Interim Chief Financial Officer while we conduct a search and hire a permanent replacement for the position of Chief Financial Officer, you are eligible to receive a special one-time bonus award in the amount of $30,000 (the “Special Bonus”) under the following terms and conditions:

1.
The Special Bonus is payable as follows:

a.
$15,000, less applicable taxes, earned on or about June 2, 2014 (the date at which it is anticipated that you will assume the role of Interim Chief Financial Officer), and if possible included on your June 6, 2014 regular paycheck paid by direct deposit; and

b.
$15,000, less applicable taxes, earned on or about the date a permanent replacement for the position of Chief Financial Officer starts employment at Exelixis, and if possible included on your first regular paycheck paid by direct deposit immediately following such date.

2.
You will only receive such Special Bonus payments if you are an active employee at Exelixis as of the actual dates the two Special Bonus payments are to be made, unless your employment is involuntarily terminated by Exelixis other than for cause.

3.
This Special Bonus is offered to you in addition to any bonus you may be eligible to receive under Exelixis’ corporate bonus program.


Debbie, we thank you for your willingness to serve as Interim Chief Financial Officer. Please contact me with any questions.