TPTX » Topics » Craig Johnson Employee Offer Letter

This excerpt taken from the TPTX 8-K filed Oct 10, 2006.

Craig Johnson Employee Offer Letter


        TPTX entered into an offer letter with Craig Johnson, its Vice President, Finance, Chief Financial Officer and Secretary, dated November 17, 2003  Mr. Johnson’s offer letter provides for an annual salary of $181,500 and a stock option grant of 150,000 shares of TPTX’s common stock. Mr. Johnson’s offer letter also provides that if his employment is terminated by TPTX without cause or should Mr. Johnson’s position be eliminated or adversely effected by change of control of TPTX, Mr. Johnson will be eligible for payment of his full salary for a period of nine months.


The foregoing description of the terms and conditions of the Offer Letters set forth herein does not purport to be complete and is qualified in its entirety by reference to the full text of each such document attached hereto as Exhibits 10.11 and 10.12 and is incorporated by reference herein.


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