Document:

Exhibit 10.83

 

 

June 1, 2001

 

 

Williamson Z.
Bradford, MD, PhD

[Address]

 

Dear Bill:

 

On behalf of
InterMune Pharmaceuticals, Inc. (The “Company”), we are pleased to offer
you the position of Director, Clinical Research, reporting to Executive Vice
President, Medical & Scientific Affairs, James E. Pennington, M.D.

 

The terms of your
employment will be as follows:

 

Your starting
salary will be $175,000 per year.  The
Company will provide you with a one-time $25,000 signing bonus that is subject
to full payback by you if employment is terminated by you prior to one year
after your start date.  As a full-time
employee of the Company, you will be eligible for the Company’s standard
benefits package including medical, dental, vision as well as the employee stock
purchase program, 401K Retirement Plan and our Cafeteria Plan.  Your position is exempt, and you will not be
eligible for overtime.

 

Subject to
approval of the Compensation Committee of the Company’s Board of Directors, you
will be granted an option to purchase 50,000 shares of the Company’s common
stock.  Your right to exercise the shares
of this option will be subject to a vesting schedule, such that 50,000 shares
of your option will be fully vested at the end of four years completed
employment.  The grant will be made by
the Compensation Committee of the Company’s Board of Directors at its next
meeting after your first day of employment. 
The exercise price will be the same as the closing price of the Company’s
Common Stock on the Nasdaq Exchange on the day before the meeting.  Your vesting will begin on your first day of
your employment with us; however, it is subject to a one-year cliff.  The terms and conditions of this option,
including vesting, will be governed by an agreement that you will be required
to sign.

 

As a condition of
your employment, you will be required to provide proof of U.S. citizenship or
that you are legally entitled to work in the United States, and to execute and
be bound by the terms of the enclosed Proprietary Information and Inventions
Agreement.  In that regard, please be
aware that Company policy prohibits all employees from bringing to the Company,
or using in performance of their responsibilities at the Company, any
confidential information, trade secrets, or proprietary material or processes
of any previous employer.  Employment
with the Company is at will, is not for any specific term and can be terminated
by you or the Company at any time for any reason with or without cause.

 

 

This offer remains
open through end of day June 18, 2001. 
Upon acceptance of this offer, the terms described in this letter and in
the Proprietary Information and Inventions Agreement shall be the terms of your
employment, superseding and terminating any other employment agreements or
understandings with InterMune, whether written or oral.  Any additions or modifications of these terms
must be in writing and signed by you and an officer of the Company.  Your anticipated start date is July 23,
2001.

 

Again, let me
indicate how pleased we are to extend this offer, and how much we at InterMune
look forward to working with you.  We
anticipate that you will find this an exciting and challenging position in a
dynamic and growing company.

 

Please accept this
offer by signing and returning the enclosed duplicate original of this letter
to me.  If you have any questions, please
call me or Mireya Ono in the office.

 

	
  Very truly yours,

  	
   

  
	
   

  	
   

  
	
  /s/ James E. Pennington

  	
   

  
	
  James E. Pennington, MD

  	
   

  
	
  Executive Vice President, Medical &
  Scientific Affairs

  
	
   

  	
   

  
	
   

  	
   

  
	
  UNDERSTOOD AND ACCEPTED:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Williamson Z. Bradford

  	
  June 14, 2001

  	
   

  
	
  Williamson Z. Bradford

  	
  DateExhibit 10.84

 

 

May 14, 2004

 

Thomas R. Kassberg

[Address]

 

Re:                               Employment
with InterMune, Inc.

 

Dear Tom:

 

On behalf of InterMune, Inc., I am
pleased to extend to you this official offer of employment with InterMune as
Senior Vice President, Business Development, reporting to the Chief Executive
Officer, beginning on August 2, 2004. Your position is a full-time
position.

 

Your employment is subject to proof of your
legal right to work in the United States, and to your completing the INS
Employment Eligibility Verification Form I-9.  Your employment also is subject to successful
verification of your professional and character references, and to our standard
pre-employment process, which includes completion of an employment application.

 

Compensation

 

If you accept this offer and begin
employment, you will receive an initial base salary of  $20,000.00 per month (equivalent to $240,000
per year), paid on a semi-monthly basis on our regular paydays.  Deductions required by law or authorized by
you will be taken from each paycheck.

 

You also will receive a sign-on bonus of
$50,000, with $25,000 payable 30 days after you begin employment and $25,000
payable at the end of your first six months of employment, provided you
continue to be an InterMune employee at that time, and upon your achievement of
certain performance-related objectives to be mutually agreed upon by you and
InterMune’s Chief Executive Officer.

 

You also will be eligible for an annual cash
bonus at the discretion of InterMune senior management based on your and the
InterMune’s year-end performance.  For
2004, your target bonus will be 35% of your base salary, or $84,000, which may
be prorated to your start date.

 

In addition, subject to approval by the Compensation Committee of the InterMune Board
of Directors, you will receive a grant of an option to purchase 80,000 shares
of InterMune common stock.  Your option
will begin vesting on

 

 

your first date of employment, with
one-quarter of the option (20,000 shares) vesting on your first anniversary date
and the remaining 60,000 vesting in equal increments of 1,667 shares per month
for the 36 months thereafter, provided you continue to be an InterMune employee
throughout that period.  The exercise
price of your option will be the NASDAQ closing price of InterMune common stock
on the last business day before you begin your InterMune employment.

 

Employee Benefits

 

As a full-time employee, you will be eligible
for paid time-off benefits, such as sick leave and holidays, in accordance with
our policies for similarly situated employees. 
You also will be eligible to participate in InterMune’s employee benefit
plans, in accordance with the terms and eligibility requirements of those
plans.  Currently, InterMune maintains
group health insurance, vision and dental plans; a long-term disability plan; a
Flexible Spending Account plan; a group Life Insurance and AD&D plan; a
401(k) savings plan, and an Employee Stock Purchase Plan.

 

InterMune reserves the right to modify, amend
or discontinue any benefit plan at any time, in its sole discretion.  You may receive such other benefits as we
many determine from time to time, in our sole discretion.

 

Other Terms and
Conditions of Employment

 

Employment with InterMune is at will.  “Employment at will” means that you are free
to resign from your employment at any time, for any reason or no reason, with
or without cause and with or without notice. 
Similarly, InterMune may terminate your employment at any time for any
legal reason, with or without cause and with or without notice.  By accepting this offer of employment, you
agree that your employment is at will, and acknowledge that no one, other than
the Chief Executive Officer of InterMune, has the authority to promise you
anything to the contrary.  Any such
agreement must be in writing and signed by both you and the Chief Executive
Officer of InterMune to be effective.

 

We believe that your employment with
InterMune requires a full-time commitment. 
Employment with any other entity, or for yourself in competition with
InterMune, is not permitted.

 

During the course of your employment, you may
create, develop or have access to confidential information belonging to
InterMune, including trade secrets

 

2

 

and proprietary information, such as clinical and other scientific
data, customer information, business plans, marketing plans, unpublished
financial information, software, source codes, and personnel information.  You agree that as a condition of your
employment with InterMune, you will sign and comply with the enclosed InterMune
Proprietary Information and Inventions Agreement, which contains certain
commitments regarding confidentiality. By accepting employment with InterMune,
you also agree to keep all InterMune information strictly confidential, and not
to use it or disclose it to any person or entity, except as is necessary in the
ordinary course of performing your work. 
Similarly, you agree to act in accordance with any valid non-disclosure
agreements to which you may be subject. 
You further acknowledge that your obligation to protect our confidential
information from disclosure exists both during your employment and after it
ends.  You also agree that at the
termination of your employment, for any reason, you will return to us all
copies (including electronic copies) of any documents or other materials you
have that refer to or contain InterMune’s confidential information, including
notebooks, manuals, letters and customer lists.

 

You also agree, if you accept this offer of
employment, that for a period of two years after your employment ends, you will
not solicit any InterMune employee to leave his or her employment with
InterMune in order to begin employment or a consulting or independent
contractor relationship with any company or business in actual or potential
competition with InterMune.

 

The terms described in
this letter replace all prior agreements, understandings, and promises between
InterMune and you concerning the terms and conditions of your employment with
InterMune.  Any modification of this
agreement will be effective only if it is in writing and is signed by both you
and the Chief Executive Officer of InterMune.

 

3

 

Tom, I am pleased to extend this offer of
employment to you, and hope that your association with InterMune will be
successful and rewarding.  Please
indicate your acceptance of this offer by signing this letter below and
returning the letter as soon as possible.  
A copy of the letter is enclosed for your records.

 

	
   

  	
  Sincerely,

  
	
   

  	
   

  
	
   

  	
  InterMune, Inc.

  
	
   

  	
   

  
	
   

  	
  /s/ Howard Simon

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Howard Simon

  
	
   

  	
  Senior Vice President, Human Resources

  
				

 

 

I understand and agree to the foregoing terms and conditions of
employment with InterMune, Inc.

 

 

	
  /s/ Thomas Kassberg

  	
   

  	
   

  
	
  Thomas Kassberg

  	
   

  
	
   

  	
   

  
	
  5/18/04

  	
  /

  	
  8/2/04

  	
   

  	
   

  
	
   Date

  	
   

  	
  Start Date

  	
   

  
					

 

4

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