Document:

May 31, 2002 – Amended offer
			Mr. John R. Sluis

				20 Old Orchard Lane

				Tonka Bay, Minnesota  55331

			 

			Dear John,

			I am pleased to extend to you an offer
letter to become the Vice President of Finance/Chief Financial
Officer of Cepheid (the “Company” or “Cepheid”).
We are assuming that you will commence employment on August 1, 2002.
Our offer consists of the following benefits, terms and
conditions:

				Position:  
					Upon
commencement of your employment with the Company, you will become the
Chief Financial Officer of the Company, responsible for leading and
managing all financial aspects of the Company.  You will report
directly to me.
					
	During the term
of your employment, you will devote your full business efforts and
time to the Company.  During the term of your employment, without the
prior written approval of the Company (which will not be unreasonably
withheld), you will not render services in any capacity to any other
person or entity and will not act as a sole proprietor, partner or
managing member of any other person or entity or as a shareholder
owning more than one percent of the stock of any other corporation.
The foregoing, however, will not preclude you from engaging in
reasonable community, school or charitable activities, or act as a
director of any private company which does not compete with the
Company.
				

				
	Salary:  You will
receive a base salary of  $8,653.85 per pay period (equivalent to
$225,000.00 per year), which will be reviewed annually.  You will be
paid bi-weekly, less payroll deductions and required withholdings, in
accordance with the Company’s regular payroll practices.
				
	Vacation and Employee
Benefits:  In addition to the company’s ten paid holidays,
your paid personal time off (PTO) begins to accrue as of the first
day of your employment. Initially you will accrue PTO at a rate of
three weeks per year of employment.  Your PTO accrual rate will
increase by an additional five days per year after the completion of
your fourth and tenth years, respectively. Your PTO, including
maximum accrual, will otherwise be governed by current company policy.
				
	Business
Expenses:  During the term of your employment, you will be
authorized to incur necessary and reasonable travel including
entertainment and other business expenses in connection with your
duties to Cepheid.  The Company will reimburse you for such expenses
upon presentation of an itemized account and appropriate supporting
documentation, all in accordance with the Company’s generally
applicable policies.
				
	Temporary
Housing/Moving Expenses:  Through May 31, 2003, the Company will
reimburse you for all reasonable commuting expenses between your
family residence in Minnesota and Cepheid locations in conjunction
with Company business and provide you with a reasonable rental
supplement for temporary living arrangements near Cepheid.  Should
you decide to relocate your family to the vicinity of Cepheid, the
Company will reimburse you for all reasonable and customary moving
expenses incurred prior to August 31, 2003.
				
	Stock Options:
Subject to approval by the Board of Directors, upon commencement of
your employment with Cepheid, you will be granted an option to
purchase 265,000 shares of the Company’s Common Stock at an
option price equal to the closing price of the Company’s common
stock on the date your employment commences.  The option will be
immediately exercisable subject to a right of repurchase and will be
an incentive stock option to the maximum extent permitted by the
Internal Revenue Code of 1986, as amended (the “Code”).
The right of repurchase shall expire with respect to 25% of the total
number of shares one year after the vesting base date, and with
respectto an additional 1/48th of the total number of shares at the
end of each month thereafter; so that the right of repurchase shall
have expired with respect to all of the shares on and after four
years after the vesting base date.
				
	No Conflicting
Obligations:  You represent and warrant to the Company that you
are under no obligations or commitments, whether contractual or
otherwise, that are inconsistent with your obligations under this
Agreement other than those obligations and commitments set forth in
the Vysis Confidentiality and Noncompetition Agreement to be attached
hereto as Exhibit A.
				
	Termination Benefits:
					For the purposes
of this Offer, a termination for “Cause” will mean a
termination initiated by the Company or a successor for any of the
following reasons:  (i) failure to perform any reasonable and lawful
duty of your position after being given written notice of such
failure and fifteen days in which to cure your performance, provided
that such notice will be required only with respect to the first
failure; (ii) an act committed by you which constitutes misconduct
and which is injurious to the Company or any subsidiary or a
successor; (iii) your being convicted of, or pleading
“guilty” or “no contest” to, a felony under the
laws of the United States or any state thereof; (iv) your committing
an act of fraud against, or the misappropriation of property
belonging to, the Company or any subsidiary or a successor; (v) an
act of dishonesty committed by you in connection with your
responsibilities as an employee and affecting the business or affairs
of the Company; (vi) a breach of any confidentiality or proprietary
information or other agreement between you and the Company or any
subsidiary or any successor; or (vii) the failure or refusal by you
to carry out the reasonable directives of the Company, if such
failure continues for fifteen days or more after the Company has
given written notice describing such failure, provided that such
notice shall be required only with respect to the first failure.
					
	If your
employment is terminated by the Company or a successor for
“Cause” or if you leave voluntarily, you will be paid your
base salary and all unused and unpaid PTO earned through your date of
termination, but no other benefits.  In such event, all stock vesting
and benefits will cease on your date of termination and you will be
provided with access to continued health care pursuant to COBRA for
you and your eligible dependents for a period of eighteen (18) months
after such termination.
					
	If you are
involuntarily terminated by the Company without “Cause” or
“Good Reason” within (12) twelve months of your date of
hire, the Company will provide you with (i) any accrued base salary,
reimbursements, unused and unpaid PTO and other benefits earned
through your date of termination of employment; (ii) a single lump
sum severance payment equal to twelve (12) months of your current
annual base salary; and (iii) access to continued health care
pursuant to COBRA for you and your eligible dependents for a period
of eighteen (18) months after such termination.  In such event, all
stock vesting will cease on your date of termination.
					
	If you are
involuntarily terminated by the Company without “Cause” or
you terminate your employment upon written notice to the Chief
Executive Officer for “Good Reason,” with either such
termination occurring within one year of a Change of Control, the
Company will provide you with (i) any accrued base salary,
reimbursements, unused and unpaid PTO and other benefits earned
through your date of termination of employment; (ii) a single lump
sum severance payment equal to twelve (12) months of your current
annual base salary; (iii) full immediate acceleration of the vesting
and exercisability of your outstanding stock options, and  (iv)
access to continued health care pursuant to COBRA for you and your
eligible dependents paid for by the Company for a period of eighteen
(18) months after such termination.
					
	“Change of
Control” means  (i) any “person” of the Securities
Exchange Act of 1934, as amended, “the Exchange Act”, other
than a trustee or other fiduciary holding securities of the Company
under an employee benefit plan of the Company, becomes the
“beneficial owner” (as defined in Rule 13d-3 promulgated
under the Exchange Act), directly or indirectly, of securities of the
Company representing 50% or more of (A) the outstanding shares of
common stock of the Company or (B) the combined voting power of the
Company’s then outstanding securities, (ii) the Company is party
to a merger or consolidation which results in the holders of voting
securities of the Company outstanding immediately prior thereto
failing to continue to represent (either by remaining outstanding or
by being converted into voting securities of the surviving entity) at
least 50% of the combined voting power of the voting securities of
the Company or such surviving entity outstanding immediately after
such merger or consolidation, (iii) the sale or disposition of all or
substantially all of the Company’s assets (or consummation of
any transaction having similar effect, (iv) the dissolution or
liquidation of the Company.
					
	“Good
Reason” means the occurrence of any of the following conditions,
without your written consent: (i) a significant diminution in the
nature or scope of your authority, title, function or duties; (ii) a
10 % reduction in your base annual salary (unless such reduction is
part of an officer-wide program to reduce expenses); (iii) any
material breach of this letter agreement by the Company; (iv) the
Company’s requiring you to be based at any office or location
more than 50 miles from the Company’s current headquarters in
Sunnyvale, California; or (v) failure of any successor to assume this
agreement.
					
	If your
employment is terminated due to your death or disability, you will be
paid your base salary and all unused and unpaid PTO earned through
your date of termination, but no other benefits except benefits
pursuant to relevant insurance coverage. In such event, all stock
vesting and benefits will cease on your date of termination.  (Under
the Company’s stock option plan you have six months to exercise
vested options after termination due to disability, and your
representative, heir or devisee will have 12 months after termination
due to death.)
				

				
	Miscellaneous:
					Benefits:  You
will be entitled to participate in the Company’s standard
benefit plans as a full-time employee to the extent set forth in such
plans.
					
	Proprietary
Information:  You will be required to sign Cepheid’s standard
proprietary information and inventions agreement (attached hereto as
Exhibit B).
					
	Final Agreement:
The employment terms in this letter and the proprietary information
and inventions agreement constitute the complete, final and exclusive
embodiment of the entire agreement between you and Cepheid with
respect to the terms and conditions of your employment.  These terms
supersede any other agreements or promises made to you by anyone,
whether oral or written.  This agreement is governed by California
law and, except, as set forth herein, shall be binding on the
Company’s successors and assigns.
					
	At-will
Employment:  California is an “at-will” employment state,
and Cepheid is an at-will employer.  This means that either you or
the Company or any successor has the right to terminate the
employment relationship at any time with or without cause.  This is
the full and final agreement between you and the Company or any
successor on these terms.  Although your job duties, title,
compensation and benefits, and the personnel policies and procedures
may change from time-to-time, the at-will nature of your employment
may only be changed in a document signed by you and myself.
					
	Authorization to
Work:  As required by law, this offer is subject to satisfactory
proof of your identification and right to work in the United States
of America.
				

			

			John, we are very excited about the
prospect of you joining the Cepheid team and look forward to a
mutually rewarding relationship.  We are convinced that your
experience and capability is an excellent match for both you and
Cepheid.  This offer will remain open to you until June 10, 2002.  If
you wish to accept employment at Cepheid under the terms described
above, please sign, date and return a copy of this letter to signify
your approval.

				I look forward to your favorable
reply and to a productive and enjoyable working relationship with
you.

			Sincerely,

			John Bishop

				CEO 

				Cepheid

				

				Accepted:

			 

			___________________________________
	Date:  ____________________

				John R. SluisEXHIBIT 4.1

                  AMERICAN CONSOLIDATED MANAGEMENT GROUP, INC.

                                PLAN INFORMATION

                                     FOR THE

       AMERICAN CONSOLIDATED MANAGEMENT GROUP EMPLOYEE DEBT REPAYMENT PLAN

       This document constitutes part of a prospectus covering securities
           that have been registered under the Securities Act of 1933.

                                  July 30, 2002

<PAGE>

              AMERICAN CONSOLIDATED MANAGEMENT GROUP, INC. EMPLOYEE
                        DEBT REPAYMENT PLAN (THE "PLAN")

General Plan Information

From inception through 1994, American Consolidated Management Group, Inc. (the
"Company") was engaged in the mining business. The Company's efforts in the
mining business were unsuccessful and from 1994 to date the Company has had no
mining or other current business operations. The Company has not had sufficient
funding to meet its cash needs. As a result, the Company has accrued salary
obligations to its officers and other amounts owing to its directors,
consultants and advisors (the "Accrued Obligations"). At June 30, 2002, the
amount of the Accrued Obligations, including accrued interest, was $2,019,549.
The Company has also agreed to issue 10,000 shares of stock to each of six
members of its board of directors in consideration for services rendered (the
"Director Obligations").

The purpose of the Plan is to settle the Accrued Obligations and Director
Obligations in full by issuing to up to an aggregate of 662,894 shares of the
Company's common stock to these individuals (the "Shares"). On July 26, 2002 the
closing price of our shares was $2.10. As a result, if the obligations are
settled under the terms of the Plan the settlement amounts will be at a
substantial discount to the amount of the Accrued Obligations. The officers,
directors, consultants and advisors who may elect to receive the Shares (the
"Plan Participants") under the Plan are (i) natural persons, (ii) they have
provided bona fide services to the Company and (iii) the services were not in
connection with the offer or sale of securities in a capital-raising transaction
and such persons do not directly or indirectly promote or maintain a market for
the Company's securities.

The Plan became effective on July 30, 2002 and it will terminate when the last
of the Accrued Obligations and Director Obligations has been settled or such
sooner time as the Board of Directors may determine. The Plan is administered by
the Company's officers who have the authority to issue Shares to the Plan
Participants in the amounts set forth below and in exchange for a release of the
specified Accrued Obligations.

The Plan is not subject to the provisions of the Employee Retirement Income
Security Act of 1974 ("ERISA").

For additional information about the Plan or its administrators you may contact
Scott Moeller at 70 West Canyon Crest Rd., Suite D, Alpine, Utah 84004,
telephone (801) 756-1414.

Securities to be Offered

The Plan authorizes the issuance of up to an aggregate of 662,894 shares to the
Plan Participants in exchange for a release of the Accrued Obligations and
Director Obligations. The release to be executed by the Plan Participants will
be in substantially the same form as attached hereto as Exhibit A. The
approximate amount of the Accrued Obligations owing to each Plan Participant and
the number of Shares to be issued to each Plan Participant in satisfaction of
the Accrued Obligations are as follows:

                                                   Number of Shares to be Issued
                                                  in Satisfaction of the Accrued
 Name of Plan Participant    Accrued Obligations               Obligation
 ------------------------   -------------------               ----------
William D. Moeller              $1,003,608                      290,124
Steven J. Haslam                    91,691                       26,506
Scott S. Moeller                   422,851                      122,238
Leah Chandler                      208,849                       60,375
Keith W. Moeller                   285,399                       82,504
Lyndon Ricks                        73,151                       21,147

The number of Shares to be issued to each Plan Participant in satisfaction of
the Director Obligations are as follows:

                                             Number of Shares to be Issued in
         Name of Plan Participant       Satisfaction of the Director Obligations
         ------------------------       ----------------------------------------
         William D. Moeller                                10,000
         Steven J. Haslam                                  10,000
         Robert J. Holladay                                10,000
         John DeNiro                                       10,000
         Keith W. Moeller                                  10,000
         Scott S. Moeller                                  10,000

Employees Who May Participate in the Plan

Shares may only be issued under the Plan to Plan Participants.

Purchase of Securities Pursuant to the Plan and Payment of Securities Offered

Plan Participants may elect to participate in the Plan at any time after the
Plan's effective date (July 30, 2002) and prior to the Plan's termination. The
Plan will terminate when the last of the Accrued Obligations and Director
Obligations has been settled or such sooner time as the Board of Directors may
determine.

Plan participants may elect to receive the number of Shares set forth above and
participate in the Plan be executing a release in the form attached hereto as
Exhibit A. Plan participants must elect to release ACMG from all outstanding
obligations in order to participate in the Plan.

The Shares given to Plan Participant will be issued by the Company and will not
be purchased in the market.

Information regarding the amount or status of the Accrued Obligations and
Director Obligations or the Shares issued in cancellation of the same will be
distributed to participants upon request. Other than the releases, the Company
does not anticipate providing reports or otherwise periodically disseminating
information about the amount and status of potential Plan Participant's
accounts.

Resale Restrictions

Unless a registration statement under the Securities Act of 1933, as amended,
(the "1933 Act") is in effect registering the sale of the Shares, then the
Shares are not freely tradeable and must be held indefinitely unless and until
such Shares are either registered under the 1933 Act or an exemption from such
registration is available. The Company intends to file a Registration Statement
on Form S-8 prior to the offer or sale of the Shares.

Except for the Registration Statement on Form S-8, the Company will not be
required to register or qualify any Shares hereafter with the Securities and
Exchange Commission or any State agency.

Any Plan Participants that are also "control persons" are also subject to
additional restrictions relating to the resale of their Shares. Control persons
include any person directly or indirectly controlling or controlled by the
issuer, or any person under direct or indirect common control with the issuer.
Control persons may only resell the Shares pursuant to a registration statement
filed under the 1933 Act, in compliance with the applicable conditions of Rule
144 as promulgated under the 1933 Act or where another exemption from such
registration are available.

Tax Effects of Plan Participants

The following is a brief summary of the principal federal income tax
consequences under current federal income tax laws relating to Shares issued
under the Plan. This summary is not intended to be exhaustive and, among other
things, does not describe state, local or foreign income tax consequences.

         Employees

In cases where the Plan Participant is an employee, at the time the Shares are
issued to the employee the employee will realize ordinary income for federal tax
purposes in an amount equal to the fair market value of the Shares. In addition,
fair market value of the Shares issued to the employee will also be subject to
employment taxes (e.g., FICA and FUTA), including applicable withholding
requirements. The Company will generally be entitled to a tax deduction at such
time in the same amount that the employee realized as ordinary income. If stock
so acquired is later sold or exchanged, then the difference between the sales
price and the fair market value of Shares on the date of issuance is generally
taxable as capital gain or loss.

         Independent Contractors

In cases where the Plan Participant is an independent contractor, at the time
the Shares are issued to the independent contractor the independent contractor
will realize ordinary income for federal tax purposes in an amount equal to the
fair market value of the Shares. In addition, fair market value of the Shares
issued to the independent contractor will also be subject to self-employment
taxes (e.g., FICA and FUTA), including applicable estimated tax payment
requirements. The Company will generally be entitled to a tax deduction at such
time in the same amount that the independent contractor realized as ordinary
income. If stock so acquired is later sold or exchanged, then the difference
between the sales price and the fair market value of Shares on the date of
issuance is generally taxable as capital gain or loss.

Other Registrant Information and Employee Plan Information

Plan Participants are entitled to obtain, without charge, upon written or oral
request, copies of the documents incorporated by reference in Item 3 of Part II
of the registration statement to which this prospectus relates, which documents
are incorporated by reference in this Section 10(a) prospectus. Participants are
also entitled to obtain, without charge, upon written or oral request, copies of
other documents required to be delivered pursuant to Rule 428(b). Requests
should be directed to Scott Moeller at 70 West Canyon Crest Rd., Suite D,
Alpine, Utah 84004, telephone (801) 756-1414.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00041-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00041-of-00352.parquet"}]]