Part-Time Employment Arrangement Letter between Hansen Medical, Inc. and Christopher P. Lowe
Hansen Medical, Inc. confirms that, effective November 3, 2014, Christopher P. Lowe's employment will change to a part-time basis while he continues as Interim Chief Financial Officer. His salary will be adjusted proportionally to reflect his part-time status. By signing, Mr. Lowe agrees to this change and acknowledges that it does not constitute "Good Reason" or a "Good Reason Condition" under his existing employment agreement. The arrangement is on an at-will basis, meaning either party can end the employment at any time.
Exhibit 10.42
Hansen Medical, Inc.
800 East Middlefield Road
Mountain View, CA 94043
October 28, 2014
Christopher P. Lowe
Interim Chief Financial Officer
Dear Chris:
This letter serves to confirm that effective November 3, 2014, your employment with Hansen Medical, Inc. (the “Company”) shall be converted to part-time basis and you shall retain your position as Interim Chief Financial Officer of the Company employed on an “at will” basis. Your base salary shall be pro-rated in an amount proportionate to your part-time status. Please sign below to acknowledge and agree to this arrangement and confirm that this arrangement will not constitute “Good Reason,” nor will it be considered to be a “Good Reason Condition,” under your employment arrangement with the Company.
| Sincerely, |
| /s/ Cary G. Vance |
| Cary G. Vance |
| President and CEO |
| Acknowledged and Agreed: | ||
| By: | /s/ Christopher P. Lowe | |
| Name: | Christopher P. Lowe | |
| Title: | Interim Chief Financial Officer | |
