Document:

Employment Offer Letter for Ramesh Acharya

 Exhibit 10.9 
 

 
 Jon W. McGarity 
 President & CEO 
 July 31, 2007 
 Ramesh
Acharya, Ph.D. 
 3716 Carrigan Canyon 
 Salt Lake City, Utah
84109 
 Dear Ramesh: 
 I am pleased to offer you the position
of Chief Scientific Officer (CSO) at Insys Therapeutics, Inc. The salary offered for this position, at this time, is $100,000.00 per year. You are also eligible to receive a bonus potential of up to 30% of your base salary based on performance. As a
full-time employee you will be eligible for health benefits and a 401K retirement plan. The attached “employment statement” summarizes your employment benefits. 
 On the first day of your employment you will be requested to sign a Confidentiality Agreement. If you are in agreement, please signify your acceptance of this offer of employment by signing and returning this letter
and the “offer statement” no later than August 3, 2007. It is understood that the job requires travel from time to time or as needed to meet business needs. 
 Ramesh, you are being offered a key position at Insys and we look forward to your active contribution to the success of our company. It is my hope that you will find your employment at Insys a truly rewarding
experience. 
 I look forward to welcoming you to Insys. Should you have any questions or concerns please do not hesitate to contact me at (602) 910
2617 Ext# 9018. 
  

	
	Sincerely,
	
	/s/ Jon W. McGarity
	Jon W. McGarity
	President and CEO

 I hereby accept Insys Therapeutics Inc.’s offer as described in this letter. 
  

					
	/s/ Ramesh Acharya	 		 	Aug. 1, 2007
	Signature of Ramesh Acharya, Ph.D.	 		 	Date

 

 

 INSYS THERAPEUTICS, INC. (“COMPANY”) 
 EMPLOYMENT OFFER STATEMENT (“OFFER STATEMENT”) 
 TO: Ramesh Acharya, Ph.D. 
 DATE: July 31, 2007 
 POSITION: Chief Scientific Officer (CSO) 
 START DATE: August 6, 2007 
 COMPENSATION: 
  

			
	SALARY	  	$100,000.00 per annum
		
	BONUS	  	Up to 30% bonus potential.
		
	EQUITY	  	 You shall receive 200,000 options. On an ongoing basis, you will participate in the annual employee stock option award program, to the extent such
awards are granted by the Board of Directors.
  
 50% of the options will be vested
immediately upon your joining the company; the remaining 50% will vest per the following schedule:

		
		  	 25% - September 1, 2008
 25% - September 1, 2009

		
		  	 In order for any unvested options to vest, you must be an employee of the Company in good standing or reach terms that would complete the vesting.

  
 The options shall be subject to all the terms and conditions of the Employee Stock
Option Program adopted by the Company. Any Shares issued pursuant to these paragraphs shall be subject to a prohibition on transferability until such time as an initial public offering of the Company’s stock is implemented by the
Company.

		
	PAID TIME OFF:	  	Your annual vacation time will be three weeks. You will have eight paid holidays and five personal/sick days. Please note that vacation time unused for the calendar year cannot be carried over.
After two years of complete service, four weeks will be approved.
		
	HEALTH INSURANCE:	  	Effective on the first day following the first full month of employment but subject to any pre-existing condition clauses that may be applicable to you or your family, Company Sponsored group
medical and dental health coverage will be provided to you consistent with the Company health insurance benefits plan in place.

			
		
	BENEFITS:	  	Effective on the first day of the first full month following the Start Date, long term disability and life insurance at one and one-half (1 1/2) times annual salary to a maximum of $100,000.00, consistent with the Company benefits plan, shall be provided to you. These benefits are to be paid in
full by the Company.
		
	RETIREMENT:	  	Subject to all eligibility and waiting period requirements, you shall be entitled to participate in the 401(k) Plan.
		
	TERMINATION:	  	Either you or the Company may terminate the “At-Will” employment upon thirty (30) days written notice to the other.
		
	 EMPLOYMENT
 STATUS:
	  	

“At Will” Employment; Nothing herein shall be construed to alter your status as an “At-Will” employee.
		
	TECHNOLOGY & INTELLECTUAL PROPERTY:	  	

All intellectual property and technology developed as a result of projects pursued by Insys, whether directly or indirectly, while employed at Insys Therapeutics,
Inc. shall belong to the Company.

  

									
					
	Accepted:	 	/s/ Ramesh Acharya	 		 	Approved:	 	/s/ Jon W. McGarity
		 	Ramesh Acharya, Ph.D.	 		 	Date:	 	President & CEOEmployment Offer Letter for Troy Ignelzi

 Exhibit 10.10 
 January 26, 2007 
 Mr. Troy Ignelzi 
 14542
North 100th Place 
 Scottsdale, AZ 85260 
 Dear Troy:

 I am pleased to offer you the position of Vice President of Business Development and Strategic Planning at Insys Therapeutics, Inc. The salary offered for
this position is $123,000.00 per year. You are also eligible to receive a bonus potential of up to 35% of your base salary. A 20% bonus is guaranteed. 10% of this years bonus will be paid upfront, however if for any reason your employment is less
than 12 months, you will be required to pay this bonus back plus interest. As a full-time employee you will be eligible for health benefits and a 401K retirement plan. The attached “employment statement” summarizes your employment
benefits. 
 On the first day of your employment you will be requested to sign a Confidentiality Agreement. If you are in agreement, please signify your
acceptance of this offer of employment by signing and returning this letter and the “offer statement” no later than February 2, 2007. 
 Troy,
you have been offered a key position at Insys and we look forward to your active contribution to the success of our company. It is my hope that you will find your employment at Insys a truly rewarding experience. 
 I look forward to welcoming you to Insys. Should you have any questions or concerns please do not hesitate to contact me. 
 Sincerely, 
  

	
	
	/s/ John Kapoor
	Dr. John N. Kapoor
	Chairman

 I hereby accept Insys Therapeutics Inc.’s offer as described in this letter. 
  

					
	/s/ Troy Ignelzi	 		 	1/31/07
	Signature of Troy Ignelzi	 		 	Date

 cc: Kay Armstrong 

 INSYS THERAPEUTICS, INC. (“COMPANY”) 
 EMPLOYMENT OFFER STATEMENT (“OFFER STATEMENT”) 
 TO: Troy Ignelzi 
 DATE: January 26, 2007 
 POSITION: Vice President of Business Development and Strategic Planning 
 START
DATE: February 14th, 2007 
 COMPENSATION:

  

			
	 SALARY
	  	$123,000.00 per annum, Performance review to be conducted at the end of every calendar year.
		
	 BONUS
	  	Up to 35% bonus potential. 20% bonus is guaranteed. 10% of the 20% guaranteed to be paid on start date.
		
	 EQUITY
	  	You shall receive 85,000 options. On an ongoing basis, you will participate in the annual employee stock option award program, to the extent such awards are granted by the Board of Directors.

		
		  	34% of the options will be vested immediately upon your joining the company; the remaining 66% will vest per the following schedule:
		
		  	33% - March 1, 2008
		
		  	33% - March 1, 2009
		
		  	In order for any invested options to vest, you must be an employee of the Company in good standing or reach terms that would complete the vesting.
		
		  	The options shall be subject to all the terms and conditions of the Employee Stock Option Program adopted by the Company. Any Shares issued pursuant to these paragraphs shall be subject to a
prohibition on transferability until such time as an initial public offering of the Company’s stock is implemented by the Company.
		
	 PAID TIME OFF:
	  	After completion of six months of employment, you are entitled to one week vacation. Your annual vacation time will be two weeks. You will have eight paid holidays and five personal sick days,
Please note that vacation time unused for the calendar year cannot be carried over.

			
		
	 HEALTH INSURANCE:
	  	Effective on the first day of the first full month following the Start Date but subject to any pre-existing condition clauses that may be applicable to you or your family, Company Sponsored
group medical and dental health coverage will be provided to you consistent with the Company health insurance benefits plan in place.
		
	 BENEFITS:
	  	Effective on the first day of the first full month following the Start Date, long term disability and life insurance at one and one-half (1 1/2) times annual salary to a maximum of $100,000,00, consistent with the Company benefits plan, shall be provided to you. These benefits are to be paid in
full by the Company.
		
	 RETIREMENT:
	  	Subject to all eligibility and waiting period, requirements, you shall be entitled to participate in the 401(k) Plan.
		
	 TERMINATION:
	  	Either you or the Company may terminate the “At-Will” employment upon thirty (30) days written notice to the other.
		
	 EMPLOYMENT
 STATUS:
	  	

“At Will” Employment; Nothing herein shall be construed to alter your status as an “At-Will” employee.
	TECHNOLOGY & INTELLECTUAL PROPERTY:	  	

All intellectual property and technology developed as a result of projects pursued by Insys, whether directly or indirectly, while
employed at Insys Therapeutics, Inc. shall belong to the Company.

  

									
					
	Accepted:	 	/s/ Troy Ignelzi	 		 	Approved:	 	/s/ John Kapoor

									
		 		 		 	Its:	 	ChairmanEmployment Offer Letter for Kelly Tate

 Exhibit 10.11 
 May 17th, 2007 
 Kelly D. Tate, MBA, MS 
 3548 N.
Reynolds Circle 
 Mesa, AZ 85215 
 Dear Kelly: 
 I am pleased to offer you the position of Director, Regulatory Affairs at Insys Therapeutics, Inc. The salary offered for this position is $130,000.00 per year. You are
also eligible to receive a bonus potential of up to 10% of your base salary based on performance. As a full-time employee you will be eligible for health benefits and a 401K retirement plan. The attached “employment statement” summarizes
your employment benefits. 
 On the first day of your employment you will be requested to sign a Confidentiality Agreement. If you are in agreement, please
signify your acceptance of this offer of employment by signing and returning this letter and the “offer statement” no later than May 21st, 2007. It is understood that the job requires travel from time to time or as needed. 

Kelly, you are being offered a key position at Insys and we look forward to your active contribution to the success of our company. It is my hope that you will find
your employment at Insys a truly rewarding experience. 
 I look forward to welcoming you to Insys. Should you have any questions or concerns please do not
hesitate to contact me at (602) 910-2617 extension 9018. 
 Sincerely, 
  

	
	
	/s/ Jon W. McGarity
	Jon W. McGarity
	President and CEO

 I hereby accept Insys Therapeutics Inc.’s offer as described in this letter. 
  

					
			
	/s/ Kelly Tate	 		 	May 19, 2007
	Signature of Kelly D. Tate	 		 	Date

 INSYS THERAPEUTICS, INC. (“COMPANY”) 
 EMPLOYMENT OFFER STATEMENT (“OFFER STATEMENT”) 
 TO: Kelly D. Tate, MBA, MS 
 DATE: May 17th, 2007 
 POSITION: Director, Regulatory Affairs 
 START DATE:
June 11th, 2007 
 COMPENSATION:

  

			
		
	 SALARY
	  	$130,000.00 per annum
		
	 BONUS
	  	Up to 10% bonus potential.
		
	 EQUITY
	  	You shall receive 10,000 options. On an ongoing basis, you will participate in the annual employee stock option award program, to the extent such awards are granted by the Board of Directors.

		
		  	50% of the options will be vested immediately upon your joining the company; the remaining 50% will vest per the following schedule:
		
		  	25% - June 1, 2008
		  	25% - June 1, 2009
		
		  	In order for any unvested options to vest, you must be an employee of the Company in good standing or reach terms that would complete the vesting.
		
		  	The options shall be subject to all the terms and conditions of the Employee Stock Option Program adopted by the Company. Any Shares issued pursuant to these paragraphs shall be subject to a
prohibition on transferability until such time as an initial public offering of the Company’s stock is implemented by the Company.
		
	PAID TIME OFF:	  	Your annual vacation time will be three weeks. You will have eight paid holidays and five personal/sick days. Please note that vacation time unused for the calendar year cannot be carried over.
After two years of complete service, four weeks will be approved.
		
	HEALTH INSURANCE:	  	Effective on the first day following the first full month of employment but subject to any pre-existing condition clauses that may be applicable to you or your family, Company Sponsored group
medical and dental health coverage will be provided to you consistent with the Company health insurance benefits plan in place.

			
		
	BENEFITS:	  	Effective on the first day of the first full month following the Start Date, long term disability and life insurance at one and one-half (1 1/2) times annual salary to a maximum of $100,000.00, consistent with the Company benefits plan, shall be provided to you. These benefits are to be paid in
full by the Company.
		
	RETIREMENT:	  	Subject to all eligibility and waiting period requirements, you shall be entitled to participate in the 401(k) Plan.
		
	TERMINATION:	  	Either you or the Company may terminate the “At-Will” employment upon thirty (30) days written notice to the other.
		
	 EMPLOYMENT
 STATUS:
	  	“At Will” Employment; Nothing herein shall be construed to alter your status as an “At-Will” employee.
		
	 TECHNOLOGY &
 INTELLECTUAL
 PROPERTY:
	  	All intellectual property and technology developed as a result of projects pursued by Insys, whether directly or indirectly, while employed at Insys Therapeutics, Inc. shall belong to the
Company.

  

									
					
	Accepted:	 	/s/ Kelly Tate	 		 	Approved:	 	/s/ Jon W. McGarity

									
		 		 		 	Its:	 	President & CEO

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