Employment Offer Letter between Ribozyme Pharmaceuticals, Inc. and Dr. Nassim Usman (July 6, 2000)

Summary

Ribozyme Pharmaceuticals, Inc. (RPI) offers Dr. Nassim Usman the position of Vice President of Research and Development and Corporate Officer, effective August 1, 2000, with a base salary of $230,000 per year and eligibility for a cash bonus up to 20% of the base salary based on agreed goals. Dr. Usman will report to the CEO and President and receive options for 20,000 shares of RPI common stock, with vesting based on time and performance. The offer expires July 15, 2000, and other benefits remain as per company policy.

EX-10.1 2 0002.txt ACCEPTANCE OF EMPLOYMENT EXHIBIT 10.1 July 6, 2000 Dr. Nassim Usman RPI 2950 Wilderness Place Boulder, CO 80301 Dear Nassim: This letter is intended to confirm the modified terms of employment offered to you by Ribozyme Pharmaceuticals, Inc. ("RPI"), and acknowledge your acceptance of employment on the terms detailed below. Position: Vice President of Research and Development and Corporate Officer Effective date: August 1, 2000 Base Salary: $230,000/year Cash Bonus: Up to 20% of base salary; based on achievement of mutually agreed goals Reporting to: CEO and President Equity Participation: Additional grant of options on 20,000 shares of RPI common stock from the shares reserved under a stock option pool; exercise price at market closing price on August 1, 2000; (half will vest over 5 years; half vest on achievement of mutually agreed performance goals) Offer Expiration: This offer will expire on July 15, 2000, if not accepted. All other terms and benefits will continue per RPI's existing benefits programs. Congratulations on your significant accomplishments and promotion, and we are very excited about the prospect of many important contributions to RPI in the years to come. Sincerely, /s/ Dr. Ralph E. Christoffersen Ralph E. Christoffersen, PhD CEO and President REC/a Agreed and accepted: Date: July 6, 2000 Signature: /s/ Dr. Nassim Usman Name: Nassim Usman, Ph.D. 18