Employee Relocation Repayment Agreement between Nektar Therapeutics and Ajay Bansal
This agreement between Nektar Therapeutics and employee Ajay Bansal outlines the terms for reimbursing relocation expenses. If Ajay leaves the company within 12 months of incurring a relocation expense, except in cases of death, disability, or company-initiated termination, he must repay all or part of the expenses based on how long he remained employed. The repayment amount decreases the longer he stays, from 100% if he leaves within 9 months to 25% if he leaves between 11 and 12 months.
Exhibit 10.49
EMPLOYEE RELOCATION REPAYMENT AGREEMENT
According to NEKTAR THERAPEUTICS policy, I am eligible to receive reimbursement for specified relocation expenses. Before receiving any reimbursements and/or advances, I agree to and understand the following:
In the event that I cease to be employed by NEKTAR THERAPEUTICS, or any of its affiliated companies, within twelve (12) months of the date a relocation expense was incurred on my behalf, for reasons other than death, disability or a decision by NEKTAR THERAPEUTICS that my services are no longer required, I agree to reimburse NEKTAR THERAPEUTICS, or any of its affiliated companies, all relocation expenses paid by NEKTAR THERAPEUTICS on the effective date of my termination according to the following scale:
Length of Service from Date Relocation Expense Was Incurred
| Length of Services |
| Amount |
|
|
|
|
|
|
| 9 months or less |
| 100 | % |
| 9-10 months |
| 75 | % |
| 10-11 months |
| 50 | % |
| 11-12 months |
| 25 | % |
| /s/ Ajay Bansal | 4/2/03 |
| Signed | Date |
|
|
|
| Ajay Bansal | |
| Print Name |
|
