In addition to the existing terms and conditions of your Employment
Agreement and Option Agreements, this Amended and Restated Retention
Agreement confirms that if you resign your employment at any time during the
Retention Period, so long as you provide a minimum of two (2) weeks advance
notice in writing, such resignation shall be treated as a resignation for
Good Reason, pursuant to the Employment Agreement, and any cash payments due
pursuant to Section 4(b)(i) of the Employment Agreement shall be paid in a
lump sum upon the termination of your employment with the Company. In
addition, because of the crucial role you have agreed to take on with respect
to certain critical objectives during the Retention Period, you shall receive
the compensation and benefits noted below, subject to the following
conditions:
CASH BONUSES.......
etc., etc.......
Thursday April 25, 9:06 am Eastern Time
Press Release
SOURCE: VARIAGENICS, INC.
VARIAGENICS Announces Senior Management Changes
CAMBRIDGE, Mass.--(BW HealthWire)--April 25, 2002--VARIAGENICS, INC. (Nasdaq: VGNX - news), a leader in pharmacogenomics, today announced that Taylor J. Crouch, President and Chief Executive Officer and Director, has resigned effective immediately. The Company also announced that Joseph S. (Jay) Mohr, Vice President of Marketing and Business Development, has been promoted to President and Chief Business Officer. Richard P. Shea will remain Chief Financial Officer and will assume the newly created position of Chief Operating Officer.
VARIAGENICS, INC. applies its pharmacogenomic technologies to the discovery, development and commercialization of personalized drugs and companion molecular diagnostic products. Using a drug pathway approach, the Company identifies therapeutically important genetic markers, including SNPs, haplotypes and LOH indicators. This information is then applied to clinical programs to enhance drugs in development, and ultimately to the creation of diagnostics for predicting patient response to drugs.
For more information, please visit the Company's website at www.variagenics.com.
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Contact:
VARIAGENICS, INC.
Rick Shea
Chief Operating Officer
617/588-5354
rshea@variagenics.com |
