Employment Agreement - Sequenom Inc. and Charles Cantor
Supplemental Schedule A
to
Form of Employment Agreement
Charles Cantor, Ph.D. (S) 1 (Title): Chief Scientific Officer
(Date): August 1, 1998
(S) 2 (Title): Chief Executive Officer
Department Responsibilities): Research and
Development
(Specific Responsibilities): Research and
Development activities at the Company,
including at the Company's San Diego
headquarters and those at the Company's
subsidiary, Sequenom GmbH, in Hamburg,
Germany and serving as Chairman of the
Company's Scientific Advisory Board.
(Superior): Chief Executive Officer
(S) 3 (a) (Title): Chief Scientific Officer
(Amount 1): $180,000
(Amount 2): n/a
(b) (Amount 3): $21,000
(insert sentence) In addition for as Chairman
of the Company's Scientific Advisory Board.
Employee will receive additional compensation
of $30,000. This Compensation shall be paid
pro-rata throughout each year of Employee's
employment with Company or until Employee no
longer serves as the Chairman of the
Company's Scientific Advisory Board.
(c) (replace paragraph): The Company has granted
to Employee stock options to purchase up to
180,000 shares of the common stock of the
Company, $0.001 par value per share. The
exercise price for the stock options of $0.50
per share. The stock options shall vest
accordingly, 50,000 shares immediately vest,
an additional 65,000 shares on each of the
first and second anniversaries of the
Effective date of this agreement and
conditioned on Employee's continued
employment. Provided, however, in the event
all, or substantially all, of the assets of
Sequenom, or a majority of the corporate
shares of Sequenom, are acquired by another
business or by an individual, then all
remaining unexercised stock options
previously granted to Employee shall become
100% vested as of the effective date of the
acquisition.
(d) (replace paragraph): Additionally, Company
has granted to Employee stock options to
purchase up to 100,000 shares of the common
stock of the Company, $0.001 par value per
share. The exercise price for the stock
options of $3.00 per share. The stock options
shall vest accordingly, in equal portions
over 48 months, the first vest date being
February 29, 1999 and conditioned on
Employee's continued employment. Provided,
however, that in the event all, or
substantially all, of the assets of Sequenom,
or a majority of the corporate shares of
Sequenom, are acquired by another business or
by an individual, then all remaining
unexercised stock options previously granted
to Employee shall become 100% vested as of
the effective date of the acquisition.
(e) (Amount 6): n/a
(Milestone Description 2): n/a
(f) (replace paragraph) Employee has obtained a
leave of absence from his positions at Boston
University for a period of at least two
years, and will relocate his main residence
to the San Diego, California area. While
continuing to be affiliated with Boston
University, Employee will be required to
visit Boston University up to twelve times
per year. The Company will reimburse Employee
for air travel to and from Boston for up to
twelve such visits per year at the rate of
$200 per day for up to twenty-four days per
year. Such payments shall cover expenses for
meals, lodging and local transportation in
the Boson area and shall be made monthly in
arrears. Any
<PAGE>
consulting activities in the Boston area will
be combined with Employee's scheduled visits
to Boston University whenever possible. The
Company will pay Employee other reasonable
out-of-pocket expenses approved in advance by
the Company in furtherance of or in
connection with his employment hereunder.
(g) (Amount 8): n/a
Signature
Block:
(Date): November 16, 1999
(Employee Name): Charles Cantor, Ph.D.
(Employee Address):
(Date): [blank]
(By): [blank]
(Title): [blank]
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