exv10w57






Exhibit 10.57









PHARMACEUTICAL COMPANY




March 4, 2008




Lisa Koch-Hulle

[Address]




Re:       Promotion to VP, Regulatory Affairs & Project Management




Dear Lisa:



We are pleased to confirm your promotion to the position of Vice President, Regulatory Affairs &
Project Management, reporting to Michael Tansey, EVP & CMO, Development. The effective date of this
promotion was February 5, 2007. This offer and your employment relationship will be subject to the
terms and conditions of this letter.



In this position, your new salary will be $164,150.00 annualized, less applicable withholdings,
paid in accordance with Company’s normal payroll practices. Future adjustments in compensation, if
any, will be made by Company in its sole and absolute discretion. This position is an exempt
position, which means you are paid for the job and not by the hour. Accordingly, you will not
receive overtime pay if you work more than 8 hours in a work day or 40 hours in a workweek.



You will remain eligible for all fringe benefits available to other “full-time” Company employees,
including medical, dental insurance, 401k plan, in accordance with Company’s benefit plans. Company
reserves the right to change or eliminate these benefits on a prospective basis at any time.



As part of this promotion, the Company’s Board of Directors’ has granted options to purchase 12,500
shares of Company’s common stock in accordance with Company’s 2004 Equity Incentive Plan (the
“Plan”) and related option documents.



You will also continue to be eligible to participate in the management incentive compensation plan
that has been established by Company during your employment, with a target bonus of up to 30% of
your base salary. The bonus will be determined by the achievement of goals tied to your position
and the achievement of overall corporate goals and is subject to approval by the Company’s Board of
Directors.



Your employment with Company continues to be “at-will.” This means your employment is not for any
specific period of time and can be terminated by you at any time for any reason. Likewise, Company
may terminate the employment relationship at any time, with or without cause or advance notice. In
addition, Company reserves the right to modify your position or duties to meet business needs and
to use discretion in deciding on appropriate discipline. Any change to the at-will employment
relationship must be by a specific, written agreement signed by you and Company’s President.




6455 Nancy Ridge Drive • San Diego, California 92121 • Phone 858-452-6600 • Fax 858-554-0234

www.ljpc.com




 









 





Lisa Koch-Hulle

Page 2



If your employment is terminated by Company for other than Cause, you will receive a severance
amount equal to 6 months of your then current base salary, provided you sign a separation
agreement in a form acceptable to Company, including a complete release of claims. For purposes of
this offer letter, “Cause” shall mean your employment is terminated for dishonesty, misconduct,
failure or inability to perform your job duties (with reasonable accommodation, if required by
law), or other conduct that has a material adverse effect on the name or public image of Company.



This letter constitutes the entire agreement between you and Company relating to this subject
matter and supersedes all prior or contemporaneous agreements, understandings, negotiations or
representations, whether oral or written, express or implied, on this subject. This letter may not
be modified or amended except by a specific, written agreement signed by you and Company’s
President.



Lisa, congratulations on your promotion and we wish you continued success in this new opportunity.
If you have any questions, please feel free to call me at 858-646-6605.




Sincerely,




	 	 	 
	/s/ Vickie Motte
 

Vickie Motte

	 	 
	Sr. Director, Human Resources
	 	 
	La Jolla Pharmaceutical Company
	 	 






*       *       *



I have read this offer letter in its entirety and agree to the terms and conditions of employment.
I understand and agree that my employment with Company is at-will.




	 	 	 	 	 
	Dated
4 Mar 08

	 	/s/ Lisa Koch-Hulle
 

Lisa Koch-Hulle
	 	 






6455 Nancy Ridge Drive • San Diego,California 92121 • Phone 858-452-6600 • Fax 858-625-0155

www.ljpc.com