Amendment to Consulting Agreement Between Pharmacopeia, Inc. and Paul A. Bartlett (March 1993, Amended February 2004)
Pharmacopeia, Inc. and Dr. Paul A. Bartlett have agreed to renew their consulting agreement for another year, extending it until March 31, 2005. The amendment reduces Dr. Bartlett's annual compensation from $75,000 to $36,000, effective April 1, 2004, and will apply to future renewals unless changed in writing. Both parties have signed to confirm these changes.
Exhibit 10.30
|
|
|
|
|
|
|
|
| February 25, 2004 |
| Stephen A. Spearman, Ph.D., MBA Executive Vice President Chief Operating Officer, Pharmacopeia Drug Discovery, Inc. |
VIA FEDERAL EXPRESS
Paul A. Bartlett, Ph.D.
Department of Chemistry
University of California
Berkeley, CA ###-###-####
Re: Amendment to Consulting Agreement dated March 1993
Between Pharmacopeia, Inc. and Paul A. Bartlett
Dear Paul:
As we discussed during our recent telephone conversation, Pharmacopeia is pleased to acknowledge the automatic renewal of your above-referenced Consulting Agreement (“Consulting Agreement”) for another one-year term, which runs until March 31, 2005. We also discussed and agreed to a reduction in your yearly cash compensation. Therefore, by this letter, it is agreed that Section 2 of the Consulting Agreement shall be amended to reflect that your annual fee shall be reduced from $75,000 per annum to $36,000 per annum. This Amendment shall take effect upon renewal of the Consulting Agreement on April 1, 2004 and shall remain in effect for any and all subsequent renewals unless further amended in writing by both parties.
For your convenience, I have enclosed two copies of this letter that have been signed by me. Please countersign and date one of the letters and return it to me at your earliest convenience, retaining the other for your files. Please do not hesitate to contact me should you have any questions or concerns. I look forward to our upcoming SAB meeting and appreciate all of your support and guidance.
|
| Sincerely yours, | |
|
|
| |
|
|
| |
|
| /s/ Stephen A. Spearman |
|
|
| Stephen A. Spearman, Ph.D. | |
| Accepted and Agreed to: |
|
|
|
|
|
|
|
|
|
|
|
|
|
| /s/ Paul A. Bartlett |
| 3/1/04 |
|
| Paul Bartlett |
| Date |
|
Pharmacopeia, Inc. • P.O. Box 5350 • Princeton, New Jersey ###-###-####
609 ###-###-#### • ***@*** • 609 ###-###-#### (Fax)
