1033 Skokie Boulevard, Suite 355 Northbrook, IL 60062
Exhibit 10.33
June 21, 2010
Michael Adatto
319 Redwing Drive
Deerfield, IL 60015
Dear Mike:
On behalf of Horizon Therapeutics (the Company), it is my pleasure to offer you the position of Senior Vice President, Commercial Operations & Managed Markets reporting directly to me.
This letter will confirm some of the terms of your employment. Please review it, and if it outlines the terms of your employment as you understand them, sign the enclosed copy and return it to me.
| Start Date. You will commence this new position with the Company on August 2, 2010 (the Start Date). |
| Location. Your position will be based at the Companys headquarters, located at 1033 Skokie Boulevard, Suite 355, Northbrook, IL 60062. |
| Proof of Right to Work. For purposes of federal immigration law, you will be required to provide to the Company documentary evidence of your identity and eligibility for employment in the United States. Such documentation must be provided to us within two business days of your date of hire, or our employment relationship may be terminated. |
| Compensation. This position offers a semi-monthly salary of $11,041.67 which is the equivalent of $265,000 annually. |
| Bonus. You will be eligible for an annual target cash bonus, beginning in the calendar year 2010 (pro-rated for the year 2010) at 30% of your salary, based on successful completion of individual and/or Company milestones, as set by Company management. |
| Benefits. |
¡ | Insurance Benefits. In accordance with Company policy and the terms of the applicable plan documents, you will be eligible to participate under any benefit plan or arrangement which may be in effect from time to time and made available to the Companys employees. |
¡ | Vacation. You will be eligible for four weeks vacation. |
¡ | Holidays. You will be entitled to the Company established holiday schedule, details to be provided via human resources. |
1033 Skokie Boulevard, Suite 355 Northbrook, IL 60062
| Confidential Information, Invention, Assignment and Non-Competition Agreement. Your acceptance of this offer and commencement of employment with the Company is contingent upon the execution, and delivery to an officer of the Company, of the Companys Confidential Information, Invention Assignment and Non-Competition Agreement, a copy of which will be provided to you (the Confidentiality Agreement), prior or on your Start Date. |
| At-Will Employment. Your employment with the Company will be on an at will basis, meaning that either you or the Company may terminate your employment at any time for any reason or no reason, without further obligation or liability. |
| No Conflicting Obligations. You understand and agree that by accepting this offer of employment, you represent to the Company that your performance will not breach any other agreement to which you are a party and that you have not, and will not during the term of your employment with the Company, enter into any oral or written agreement in conflict with any of the provisions of this letter or the Companys policies. You are not to bring with you to the Company, or use or disclose to any person associated with the Company, any confidential or proprietary information belonging to any former employer or other person or entity with respect to which you owe an obligation of confidentiality under any agreement or otherwise. The Company does not need and will not use such information and we will assist you in any way possible to preserve and protect the confidentiality of proprietary information belonging to third parties. Also, we expect you to abide by any obligations to refrain from soliciting any person employed by or otherwise associated with any former employer and suggest that you refrain from having any contact with such persons until such time as any non-solicitation obligation expires. |
| Entire Agreement. This letter, together with the Confidentiality Agreement, sets forth the entire agreement and understanding between you and the Company relating to your employment and supersedes all prior agreements. |
1033 Skokie Boulevard, Suite 355 Northbrook, IL 60062
I am pleased to be able to extend you this offer and we are excited to begin working with you. To indicate your acceptance of the Companys offer, please sign and date this letter in the space provided below and return it to me.
Best Regards,
/s/ Timothy P. Walbert
Timothy P. Walbert
Chairman, President and Chief Executive Officer
Accepted: | ||||
/s/Michael Adatto | 7/28/10 | |||
Michael Adatto | Date |
Cc: | Robert W. Metz |
Doreen Brignoli
Finance
Human resources file
1033 Skokie Boulevard, Suite 355 Northbrook, IL 60062