Millennium Pharmaceuticals, Inc. (MLNM) Message Board

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Biotech / Medical : Millennium Pharmaceuticals, Inc. (MLNM)

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From: Icebrg	12/14/2006 8:16:09 AM
	of 3044

Form 8-K for MILLENNIUM PHARMACEUTICALS INC 14-Dec-2006 [Judging from the amendments it was not Dr Tepper's idea that he should leave the company] Change in Directors or Principal Officers Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On December 14, 2006, the Company announced that Robert I. Tepper, President of Research and Development, will be leaving the Company during the first quarter of 2007. In connection with Dr. Tepper's departure, the Company has amended Dr. Tepper's employment offer letter. The amendment provides that Dr. Tepper will receive a severance payment equal to twelve (12) months of his current base salary and an incentive payment of $225,000. The amendment also provides that that Dr. Tepper will remain eligible for a payment under the Company's 2006 success sharing bonus program and will receive health-care premium payment reimbursement for a period of up to twelve (12) months.

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