Amendment to Employment Terms for Sven Dethlefs as Executive Vice President, North America Commercial – Teva Pharmaceutical Industries Ltd.
This letter outlines the amended employment terms for Sven Dethlefs, who has been appointed Executive Vice President, North America Commercial at Teva Pharmaceutical Industries Ltd., effective August 15, 2021. He will receive an annual base salary of $816,000 and is eligible for an annual bonus targeted at 100% of his base salary, with the 2021 bonus based on this new salary. He may also be considered for equity-based awards at the company's discretion. All other employment terms remain as previously agreed.
Exhibit 10.26
Private and Confidential
July 27, 2021
To: Sven Dethlefs
Teva Global ID: 75279
Dear Sven,
Congratulations on your appointment as Executive Vice President, North America Commercial.
The following are the terms of your employment which shall be amended in light of your new position. The terms of your employment are subject to Teva Pharmaceutical Industries’ Compensation Policy applicable to executive officers.
Effective Date: August 15, 2021
Annual Base Salary: $816,000
Annual Bonus: Executive officer bonus plan with target of 100% Annual Base Salary. For the year 2021 your annual bonus calculation shall be made on the basis of an annual base salary of $816,000
Annual Equity Award: You will be considered for equity-based compensation awards as part of annual compensation cycle at the sole discretion of the CEO, the Compensation Committee and the Board of Directors
All other terms are subject to your current employment agreement.
We strongly believe in the company and in your contribution to its success. We look forward to your continued commitment towards Teva’s short and long-term strategic goals.
Sincerely,
Kåre Schultz
President and Chief Executive Officer
Teva Pharmaceutical Industries Ltd.
124 Dvora HaNevi’a St., Tel Aviv ###-###-#### Israel | www.tevapharm.com
