EXHIBIT 10.45

 

July 6, 2004

 

Dear Greg:

 

This letter is to confirm that, in consideration for your continued employment
with Exelixis, Inc. (the “Company”), the Company offers you the following
termination benefits:

 

In the event, within the twelve (12) month period commencing on the date hereof,
your employment with the Company is terminated without cause, then you will
receive a lump-sum payment equal to eighteen (18) month’s base salary.  In
addition, you will be entitled to receive the amount of any declared but unpaid
bonus as of the date of such termination and the Company shall continue to make
available to you such fringe benefits as required by law.

 

Sincerely,

 

/s/ George Scangos

 

 

 

 

George Scangos

 

President and Chief Executive Officer

 

 

 

 

 

ACCEPTED BY:

 

 

 

 

 

/s/ Gregory Plowman

 

July 6, 2004

 

Gregory Plowman

Date

 

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