Amendment to Executive Employment Agreement between Quintiles Transnational Corp. and Ron Wooten
This letter agreement between Quintiles Transnational Corp. and executive Ron Wooten amends the calculation of his severance payments. Instead of the previous method, each of the 36 monthly severance payments will now be equal to his monthly base salary at the time of termination, multiplied by 1.55. All other terms and conditions of the original Executive Employment Agreement, as previously amended, remain unchanged. The agreement is effective upon signature by both parties.
(Quintiles Transnational Corp. Logo) Quintiles Transnational Corp,
Post Office Box 13979
Research Triangle Park, NC ###-###-####
919 ###-###-#### / Fax ###-###-#### EXHIBIT 10.19 http://www.quintiles.com
November 13, 2003
Ron Wooten
c/o Quintiles Transnational Corp.
4709 Creekstone Drive
Riverbirch Building, Suite 300
Durham, NC 27703
Re: Amendment to Executive Employment Agreement
Dear Ron:
Reference is made to the amendment to your Executive Employment Agreement dated as of November 12, 2003 (the “Amendment”). This will confirm our agreement that in lieu of the calculation of the 36 monthly severance payments in the manner specified in paragraph 4 of the Amendment, each such monthly payment will instead equal your monthly rate of base salary in effect at the time of your termination of employment, multiplied by 1.55.
All other terms of the Executive Employment Agreement, as amended by the Amendment, are unaffected by this letter, including the conditions that must be met to receive or retain severance benefits.
Please confirm that this conforms to your understanding of our agreement by signing below.
Sincerely yours,
Michael Mortimer
Executive Vice President, Global Human Resources
Agreed to and Accepted by:
11/14/03 Ron Wooten Date
