Amendment to Employment Agreement between Sucampo Pharmaceuticals, Inc. and Brad Fackler

Summary

This agreement amends the employment terms between Sucampo Pharmaceuticals, Inc. and Brad Fackler. Effective June 2007, Mr. Fackler's base salary increases to $231,000 per year. If his employment is terminated without cause, due to disability, or if he resigns for good reason, he will receive a lump-sum severance equal to six months of his current salary and up to six months of health insurance reimbursement. All other terms of the original employment agreement remain unchanged.

EX-10.3 4 w44671exv10w3.htm EX-10.3 exv10w3

Exhibit 10.3

November 15, 2007

PERSONAL AND CONFIDENTIAL

Mr. Brad Fackler, Executive VP, Commercial Operations
4520 East West Highway, 3^rd Floor
Bethesda, Maryland 20814

Re: Amendment to Employment Agreement

Dear Mr. Fackler:

This letter will reflect the agreement between you and Sucampo Pharmaceuticals, Inc. (the “Company”) upon certain amendments to the terms of the Employment Agreement between you and the Company dated June 16, 2006.

Effective as of the first payroll period in June 2007, your Base Salary has been increased to the annual rate of $231,000. In addition, effective immediately, your Compensation Upon Severance in the event the Company terminates (or elects not to renew) your Employment Agreement “without cause,” or upon disability pursuant to Section 4.2 of the Agreement, or in the event you terminate the Agreement for “good reason” has been altered to increase your lump-sum severance to a payment equal to six (6) months of your then-current base salary. Your Compensation Upon Severance has also been altered to extend the period for which you are entitled to receive reimbursement for the cost of continued health insurance coverage to a maximum of six (6) months after termination.

Consistent with the requirements for modification set forth in Section 6.3 of the Employment Agreement, this letter will document the mutual agreement between you and the Company to amend (1) Section 3.1(a) of your Employment Agreement to reflect the foregoing increase in Base Salary, (2) Section 4.4(a)(iii) of that agreement to reflect the foregoing increase in your Compensation Upon Severance, and (3) Section 4.1(a) of that agreement to alter the definition of “Benefit Period” to mean “six (6) month period” rather than “two (2) month period.”

The foregoing are the only changes to the terms of the Employment Agreement to be made at this time. Please indicate your agreement to these modifications of the Employment Agreement by countersigning the enclosed copy of this letter in the space provided below and returning the same to me for the Company’s files.

Thank you for your cooperation.


	Sincerely,
	/s/ RYUJI UENO
	Ryuji Ueno, M.D., Ph.D
	President

Acknowledged and accepted this 7^th day of December, 2007.



/s/ BRAD FACKLER
Brad Fackler