Employment Offer Letter between Ribozyme Pharmaceuticals, Inc. and Dr. Larry Blatt (Vice President of Research)

Summary

Ribozyme Pharmaceuticals, Inc. offered Dr. Larry Blatt the position of Vice President of Research and Corporate Officer, effective August 1, 2000, with a base salary of $174,000 per year and a potential cash bonus of up to 20% based on agreed goals. Dr. Blatt will receive stock options for 35,000 shares, with vesting based on time and performance. The offer expires July 15, 2000, and all other employment terms follow the company's existing benefits programs.

EX-10.2 3 0003.txt ACCCEPTANCE OF EMPLOYMENT EXHIBIT 10.2 July 6, 2000 Dr. Larry Blatt RPI 2950 Wilderness Place Boulder, CO 80301 Dear Larry: 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 Corporate Officer Effective date: August 1, 2000 Base Salary: $174,000/year Cash Bonus: Up to 20% of base salary; based on achievement of mutually agreed goals Reporting to: Vice President Research and Development Equity Participation: Additional grant of options on 35,000 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/ Ralph E. Christoffersen Ralph E. Christoffersen, PhD CEO and President RECa Agreed and accepted: Date: July 6, 2000 Signature: /s/ Dr. Lawrence Blatt Name: Larry Blatt, Dr. P. H. 19