Document:

Exhibit 4.1(h)

 

ChemGenex
Therapeutics, Inc.

 

May
6, 2001

 

 

Harry
Pedersen

3833
La Donna Avenue

Palo
Alto, CA 94306

 

Dear
Harry:

 

ChemGenex
Therapeutics, Inc. (“ChemGenex” or the “Company”) is pleased to offer you the
position of Executive Vice President of Corporate Development, on the following
terms:

 

In
this full-time, exempt level position, you will report to the Chief Executive
Officer, and will initially work at our corporate headquarters in Menlo Park,
California.

 

Other
details regarding the offer are as follows:

 

Start
Date. If you accept our
offer, we would like your effective start date to be May  6, 2001.

 

Base Salary.
Your base salary will be $16,666.67 monthly, less standard payroll deductions
and withholdings. You will be paid on a semi-monthly basis and you will be
eligible for the following standard Company benefits: medical insurance,
vacation, sick leave, holidays. Information regarding ChemGenex’s benefit plans
will be provided to you at your new hire orientation. The Company may modify compensation
and benefits from time to time as it deems necessary. Information regarding
ChemGenex’s benefit plans will be provided to you at your new hire orientation.

 

Bonus
Plan. You will also be
eligible to participate in ChemGenex’s performance bonus plan, under which you
would be eligible to receive an annual bonus of up to 15% of your base salary.
Payout of any performance bonus is contingent on your achievement of
performance objectives set mutually by you and ChemGenex management as well as
the Company’s overall financial performance. Please note that at the discretion
of management, the bonus plan may be terminated or modified at any time.

 

Stock
Options. Upon your hire
by ChemGenex and upon approval of the ChemGenex’s Board of Directors (“the Board”),
you will be granted an incentive stock option to purchase 500,000 shares of
common stock of ChemGenex with an exercise price equal to the fair market value
of the stock, determined by the Board at its next regular meeting after
your start date (the “Option”). The Option shall be subject to the following
vesting schedule: 1/4th vesting after one year of your continuous service with
ChemGenex and

 

34700
Campus Drive, Fremont, CA 94555 (510) 494-7732 Fax (510) 742-8510

 

 

then
1/48th vesting each month thereafter of your continuous service with ChemGenex.
The Option and all stock purchased pursuant to the Option shall be subject to
the terms of ChemGenex’s Equity Incentive Plan, as that Plan is developed, and
the standard stock grant agreement that will be provided to you pursuant to the
Plan.

 

Company
Policies and Employee Proprietary Information and Inventions Agreement. As a ChemGenex employee, you will be expected
to abide by all rules and regulations of ChemGenex and to sign and comply with
the attached Employee Proprietary Information and Inventions Agreement.

 

Normal
Working Hours. Normal
working hours are from 9:00 a.m. to 5:00 p.m., Monday through Friday. As an
exempt level employee, you will be expected to work additional hours as
required by the nature of your work assignments.

 

Employment
Relationship. You may
terminate your employment with ChemGenex at any time, for any reason or no
reason whatsoever simply by notifying the Company. Likewise, ChemGenex may
terminate your employment at any time and for any reason whatsoever, with or
without cause or advance notice. This at-will employment relationship cannot be
changed except in writing signed by an authorized ChemGenex officer.
Participation in any of our benefit programs is not to be regarded as a
guarantee of continued employment for any particular period of time. In
addition. ChemGenex may change your position, duties, work location, benefits,
and compensation from time to time as it deems necessary.

 

Introductory
Period. The first sixty
(60) days of your employment with ChemGenex will be an introductory period
intended to give you the opportunity to demonstrate your ability to perform
your duties satisfactorily and to determine whether your new position meets
your expectations. We encourage you to use this time
to raise with your managers any questions you might have about
the position or about ChemGenex generally, and to assist us in making your
transition into the Company as comfortable as possible. You will begin accruing
vacation benefits with ChemGenex upon your first day of employment. As set
forth in the paragraph above, both you and ChemGenex may terminate the
employment relationship at any time for any reason both during and after the
Introductory Period.

 

Eligibility to Work in the United States. As required by law, this offer is subject to
satisfactory proof of your right to work in the United States. Please note that
because of regulations adopted in the Immigration Reform and Control Act of
1986 (IRCA), we will require that you present documentation demonstrating that
you have authorization to work in the United States on your first working day.
If you have any questions about this requirement, which applies to U.S.
citizens and non-U.S. citizens alike, please contact Dennis Brown, CEO of
ChemGenex.

 

CHEMGENEXTM

34700 Campus Drive; Fremont;
CA 94555 (510) 494-7732 Fax (510) 742-8510

 

 

Arbitration. To ensure rapid and economical resolution of
disputes which may arise in connection, with your employment with ChemGenex,
you and ChemGenex agree that any and all disputes, claims (e.g., contract
claims, tort claims, statutory claims, discrimination or harassment claims), or
causes of action arising from or relating to your employment with ChemGenex
will be resolved to the fullest extent permitted by law by final and binding
confidential arbitration held in San Francisco, California through Judicial
Arbitration and Mediation Services, Inc. (“JAMS”) under its rules and
procedures for arbitration of employment disputes; provided, however, that either
party may obtain injunctive relief from a court if necessary to preserve the
status quo pending the outcome of the arbitration or in circumstances where the
arbitrator lacks authority to issue injunctive relief. JAMS will provide a list
of 5 arbitrators from which both parties may eliminate 2 to obtain the final
arbitrator. By agreeing to this arbitration procedure, both you and ChemGenex
waive the right to resolve any such disputes through a jury trial, court trial,
or administrative proceedings. Each party will bear its own attorney fees, and
the cost of the arbitration will be borne equally by both parties.

 

Complete
Agreement. This letter,
together with your Employee Proprietary Information and Inventions Agreement,
forms the complete and exclusive statement of your employment agreement with
ChemGenex. The employment terms in this letter supersede. any other agreements
or promises made to you by anyone, whether oral or written.

 

As
acceptance of the employment terms described above, please sign and date this
letter and return one original to the undersigned by May 7, 2001, after which
time this offer will expire. A duplicate original of this offer letter is
enclosed for your records.

 

We
look forward to a favorable reply and the opportunity of working with
you to create a successful Company.

 

Very
truly yours,

 

	
  /s/ Dennis M. Brown

  	
   

  

Dennis
M. Brown Chief Executive Officer

 

ChemGenex
Therapeutics, Inc.

 

 

I
accept the employment terms stated in this letter, and agree to commence
employment on May 6, 2001.   

 

	
  /s/ Harry D. Pedersen

  	
   

  	
   

  	
   

  	
   

  
	
  NAME

  	
  Date

  	
   

  

 

May 6, 2001

Enclosure:
Proprietary Information and inventions AgreementExhibit 4.1(i)

 

CHEMGENEXTM

 

6/20/00

 

Shawnya
Michaels

POB
2697

El
Granada, CA 94018

 

Dear
Mrs. Shawnya Michaels

 

We
are pleased to confirm our offer for employment at ChemGenex Therapeutics, Inc.
(hereafter referred to as ChemGenex) in a position titled, Scientist and
Manager of Extamural Research under the direction of Dr. Dennis M. Brown, Ph.D.
This letter sets forth some important benefits and conditions of your
employment at ChemGenex. Please read each section carefully.

 

Your
starting salary will be $5,833 per month ($70,000 on an annualized basis). Your
personal coverage under ChemGenex current benefit plans will become effective
immediately following your date of hire. In addition, you are eligible for a
bonus, which will be paid in quarterly increments, upon the achievement of
mutually agreed upon performance objectives.

 

In
addition to salary and benefits and subject to the approval of the Stock Plan
Administration Committee of the Board of Directors, we will recommend that you
are to be granted option shares of ChemGenex Common stock in accordance with
the stock option plan. Your stock option will vest over 48 months.

 

The
Immigration Reform and Control Act of 1986 requires that every person present
proof to ChemGenex of their identity and eligibility and/or authorization to
accept employment with our company. In order to comply with this law, and
before you can become a ChemGenex employee, you must provide appropriate
documentation to prove both your identity and legal eligibility to be employed
at ChemGenex. Acceptable forms of documentation are described on the attachment
to this offer letter. Please be sure to bring this documentation with you to
orientation. If you are working in this country on a VISA, you will need to
provide copies of this documentation at new employee orientation. Failure to do
so may result in over withholding of taxes.

 

34700
CAMPUS DR. • FREMONT, CA • 94555

PHONE:
510-494-7636 • FAX: 508-300-0704

 

 

If
you accept employment with ChemGenex, your employment is for no specified term
and is “at will” and can be terminated at any time by either party, with or
without cause or notice. This is our complete agreement regarding your
employment relationship with ChemGenex and supersedes any prior agreements.
While other terms of your employment may change, this agreement regarding your
employment relationship cannot be changed except in writing, signed by the
President of ChemGenex. If employed, you also agree to abide by the policies
and regulations of ChemGenex.

 

Enclosed
is your Employee Agreement on Confidential Information and Inventions, which
you should read carefully and sign. Please return the signed Confidentiality
Agreement along with a signed copy of this offer letter on your first day of
employment. If you have any questions regarding this Agreement, feel free to
contact me.

 

Continued
employment is conditional on safe work practices, and compliance with safety
requirements in your area. These may include wearing safety glasses for eye
protection, not wearing contact lenses in designated areas, wearing protective
footwear or equipment as required by particular tasks or areas.                ;

 

We
look forward to you joining us at ChemGenex. Please sign and return the
original of this letter in the self addressed stamped envelope we have provided
for you. Please report to the ChemGenex reception desk at 34700 Campus Dr.,
Fremont, CA 94555, at 8:30 on your first day of work. Once an employee, your
supervisor will inform you of your regular working hours.

 

Sincerely
yours,

 

	
  /s/ Dennis M Brown

  	
   

  

Dennis
M Brown

 

President
and Chief Executive Officer

 

I
agree to the above terms

 

	
  /s/ Shawnya Michaels

  	
   

  

Signature

 

 

	
  6/20,

  	
   

  

Date
signed

 

	
  8/1/99

  	
   

  

Date your employment begins

 

2

 

C H E M G
E N E X

 

Confidentiality
Agreement

 

This
Agreement is made between ChemGenex Therapeutics, Inc. at 34700 Campus Dr.,
Fremont, CA 94555 (ChemGenex) and Shawnya Michaels. Whereas, ChemGenex and
Shawnya Michaels possess certain confidential and proprietary information (the “Confidential
Information” as further defined below) that each is willing to disclose to the
other subject to the terms and conditions of this Agreement. I

The
parties desire to engage in discussions concerning possible business and
technical relationship in respect to Active Pharmaceutical Ingredients.

 

ChemGenex
and Shawnya Michaels agree as follows:

 

1.               As used in this Agreement, the term “Confidential
Information” shall mean and include any and all such confidential and/or
proprietary information disclosed by one party (Disclosing Party) to the other
party (Receiving Party) orally or in writing, concerning the product,
technology, programs, financial information, data, projections, discovery and
development thereof, manufacturing, process, formula, analytical methods,
bioprotocols, results of in-house bio studies, patents, trademarks,
intellectual property rights, costs, strategies and any other aspects of the
business including the arrangements made under this Agreement or any other
Agreement.

 

2.               Either party will hold in confidence and will
not disclose to any third party confidential information under this Agreement
except with the written consent of the disclosing party. This confidentiality
restriction will not apply to information which is:

 

2.1 in public knowledge or domain prior to its
receipt from the disclosing party or which thereafter becomes part of public
domain through no fault of the receiving party;

2.2 lawfully is in receiving party’s possession
prior to the time of its receipt from the disclosing party and was not acquired
directly or indirectly from any third party under any confidentiality
restrictions;

2.3 received after the time of disclosure, from a
third party not under the similar obligations of confidentiality to the other
party; or

2.4 developed independently by or for the receiving
party by person who does not have access to the disclosing party’s information.

 

3.               Receiving party shall not disclose the
confidential information received from the disclosing party to any party other
than the minimum number of its own responsible employees, affiliates and such
retainer who are directly engaged in evaluating such

 

CHEMGENEXTM

 

34700
Campus Drive, Fremont, CA 94555 (510) 494-7732 fax (510) 742-8510

 

confidential information and
to whom it is essential to disclose the same, and shall take all reasonable
steps to ensure that such employees/affiliates/retainers whether during or
after their employment/affiliation/retainership shall treat confidential
information as such and keep it secret from other entities or persons except
with express written consent of the disclosing party.

 

 

4.               In the event, the receiving party becomes
legally compelled (by oral questions, interrogatories, requests for information
or documents, subpoena, civil investigation demand or similar process) to
disclose any of the confidential information received, it agrees to provide to
the disclosing party with prompt written notice of that fact so that the
disclosing party may seek protective order or other appropriate remedy to
protect its information and/or waive compliance with the provisions of this
Agreement.

 

5.               The confidential information as per this
Agreement shall always remain the exclusive property of the disclosing party
and after the completion of t e purposes of this Agreement or the termination
of this Agreement (by way of ~a written notice by one party to the other party)
receiving party shall return all confidential information to the disclosing
party without retaining any copy thereof.

 

6.               This Agreement will be in effect for a term of
five (5) years from date signed.

 

7.             This Agreement may not be modified or amended
nor any terms waived, except in writing and signed by both parties. The waiver
by either party of any breach of this Agreement shall not be construed as a
waiver of any subsequent breach. This Agreement shall be governed by California
law.

 

 

	
  ChemGenex
  Therapeutics, Inc.

  	
  Shawnya Michaels

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By: 

  	
  /s/
  Dennis M Brown

  	
   

  	
  By: 

  	
  /s/
  Shawnya Michaels

  	
   

  
	
   

  	
   

  
	
  Name: 

  	
  Dennis
  M Brown

  	
   

  	
   

  
	
  Title:
  Pres

  	
   

  	
  Title:

  	
  ChemGenex
  Manager of Extra Mural

  
	
   

  	
   

  	
   

  	
  Research

  
	
  Date
  6/20/00

  	
   

  	
  Date 20/6/00

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