Document:

EXHIBIT 10.44

 

July 21, 2000

 

Dear Greg:

 

We are proud to invite you to join our team.

 

Our offer of employment is to join Exelixis, Inc. as a Vice President,
Research reporting to Geoffrey Duyk, Chief Scientific Officer.  Other terms of employment include:

 

Compensation:  You
will receive nine thousand three hundred seventy five dollars ($9,375.00) per
pay period. There two pay periods per month. Additionally, you will receive a
sign-on bonus of twenty five thousand dollars ($25,000) payable the first pay date
after hire. Should you elect to voluntarily terminate employment with the
Company within twelve (12) months of your hire date, the sign-on bonus will be
entirely re-paid by you to the Company. 
This re-payment of the sign-on bonus shall occur within thirty (30) days
of termination.

 

Options for Equity:  You will also be eligible to receive a stock
option for one hundred thousand (100,000) shares of Exelixis stock pursuant to
our standard Stock Plan and subject to approval by the Board of Directors. Options
vest over 4 years, and are 25% vested on the first anniversary of employment
and then continue to vest 1/48th of the total grant on the monthly
anniversary date each month thereafter over the next 3 years.

 

Benefits: 
All full-time employees of Exelixis, Inc. enjoy a generous benefits
package, which is outlined on the attached Summary of Benefits.

 

Performance Review:  Your performance will be formally reviewed no
less than annually you will be eligible to receive an incentive bonus of up to
twenty percent of your annual salary based on achievement of key milestones.

 

 

Confidentiality:  As
you are aware, it is very important for us to protect our confidential
information and proprietary material. 
Therefore, as a condition of employment, you will need to sign the
attached Confidentiality Agreement.

 

Termination: 
In the event of termination of your employment by the Company without
Cause, the Company will continue to pay you your base salary for a period after
the date of such termination equal to the lesser of (1) six months and (2) the
period until you obtain alternative employment. In addition, you will be
entitled to receive the amount of any declared but unpaid bonus as at the date
of such termination and the Company shall continue to make available to you
such fringe benefits as are required by law.

 

Loan:  
Within 30 days of your start date we will make available to you a loan
in an amount of seventy five thousand ($75,000) dollars. The loan will have a
term of four (4) years and is subject to one hundred percent (100%) forgiveness
of principal upon your fourth employment anniversary date if you have been a
full-time employee during the preceding forty eight (48) months. Forgiven
amounts will be subject to annual withholding and reported on your Form W-2
during year of forgiveness. In the event of your voluntary termination of
employment, you will be obligated to repay loan as follows:  25% of the total principal for each year
remaining under the loan (e.g., if you terminate in year 1, then 100% would be
repayable; 75% in year 2, etc.).  In the
event that your termination is by the Company without cause prior to your
fourth anniversary date of employment, the loan will be subject to one hundred
percent (100%) forgiveness of principal. Interest on the loan will accrue
annually and the rate will be the lowest rate available for a loan of this term
in effect as of the date of the loan under the rules and regulations of the
U.S. Treasury.  The accrued interest will
be payable within thirty (30) days of each December 31st during
the term of the loan.

 

Start Date: 
To be determined.

 

Other: 
This offer expires on August 2 , 2000, unless accepted by you prior
to this date.  In addition to performing
the duties and responsibilities of your position, you will be expected to
perform other duties and responsibilities that may be assigned to you from time
to time.  No provision of this letter
shall be construed to create an express or implied employment contract for a
specific period of time.  Either you or
the Company may terminate this employment relationship at any time.  This letter shall be governed by the laws of
the State of California. Also, by signing this letter, you are indicating that
you are legally authorized to work in the U.S.

 

You may accept this offer of employment by signing both copies of this
letter and returning to my attention at Exelixis, Inc one copy along with the
completed employment documents that have been included in this offer packet.

 

Greg, we look forward to your coming on board!

 

 

Sincerely,

 

	
  /s/ Lisa Benthein

  	
   

  	
   

  
	
  Lisa Benthein

  	
   

  
	
  Director, Human Resources

  	
   

  
	
   

  	
   

  
	
  ACCEPTED BY:

  	
   

  
	
   

  	
   

  
	
  /s Gregory Plowman

  	
   

  	
  7/23/00

  	
   

  
	
  Gregory Plowman

  	
  Date

  
	
   

  	
   

  
	
  Enclosures:

  	
   

  
	
  Benefit Summary

  	
   

  
	
  Confidentiality Agreement

  	
   

  
	
  DE-4 (optional)

  	
   

  
	
  Direct Deposit Form (optional)

  	
   

  
	
  Employee Information Form

  	
   

  
	
  I-9 document verification list

  	
   

  
	
  Insider Trading Policy

  	
   

  
	
  Lock-up Agreement

  	
   

  
	
  W-4EXHIBIT
10.45

 

July 6, 2004

 

Dear Greg:

 

This letter is to confirm
that, in consideration for your continued employment with Exelixis, Inc. (the
“Company”), the Company offers you the following termination benefits:

 

In the event, within the
twelve (12) month period commencing on the date hereof, your employment with
the Company is terminated without cause, then you will receive a lump-sum
payment equal to eighteen (18) month’s base salary.  In addition, you will be entitled to receive
the amount of any declared but unpaid bonus as of the date of such termination
and the Company shall continue to make available to you such fringe benefits as
required by law.

 

Sincerely,

 

	
  /s/ George Scangos

  	
   

  	
   

  
	
   

  	
   

  
	
  George Scangos

  	
   

  
	
  President and Chief
  Executive Officer

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  ACCEPTED BY:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/ Gregory Plowman

  	
   

  	
  July 6, 2004

  	
   

  
	
  Gregory Plowman

  	
  DateEXHIBIT
10.46

 

November 20, 2003

 

Dear Frank:

 

We are proud to invite
you to join our team.

 

Our offer of employment
is to join Exelixis, Inc.  Your title
will be that of Senior Vice President and Chief Financial Officer, working at
the Company’s headquarters located in South San Francisco, California and
reporting to George Scangos, President & Chief Executive Officer in our
Executive Administration department. 
Other terms of employment include:

 

Compensation:  Your initial base salary
will be three hundred thousand dollars ($300,000) annually, less standard
deductions and withholdings, paid semi-monthly. 
In addition you will be eligible for a target bonus of forty-five
percent (45%) of base salary, at the discretion of the Board of Directors,
based on annualized objectives to be established by the Chief Executive Officer
and Board of Directors for your position. 
As with all executives, receipt of this year-end bonus will be subject
to the achievement of our annual financial plan and individual management
objectives.  You will receive a sign-on
bonus of eighty-five thousand dollars ($85,000) payable the first pay date
after hire. Should you elect to voluntarily terminate employment with the
Company within twelve (12) months of your hire date, the sign-on bonus will be
entirely re-paid by you to the Company. This re-payment of the sign-on bonus
shall occur within thirty (30) days of termination.

 

Options for Equity:  You will be eligible to receive a stock option
grant for two hundred thousand (200,000) shares of Exelixis stock pursuant to
our standard Stock Plan and subject to approval by the Board of Directors.  Options vest at the rate of 1/4th
after one year of employment and 1/48th every month thereafter over
a total of four years.  From time to
time, the Board may grant you additional stock options at its discretion.  Your stock options will be subject to
automatic accelerated vesting of any unvested portion upon a sale of the
Company or sale of greater than 50% of the assets or equity securities of the Company.

 

Benefits:  All full-time employees of Exelixis, Inc.
enjoy a generous benefits package as is outlined on the attached Summary of
Benefits.

 

 

Non-Immigrant Visa and Permanent Residence
Assistance:  Exelixis will sponsor your application for a
non-immigrant visa to obtain US work authorization.  Please sign and return the enclosed “Exelixis
Employee Non-Immigrant Visa Processing Reimbursement Agreement” form to the
Human Resources department with your offer letter.  If you wish to pursue permanent residence
under Exelixis’ Immigration Assistance Policy, Exelixis will begin the process
as soon as practicable.

 

Employment Policies:  The Company will reimburse you for reasonable business documented
expenses pursuant to Company policy.  You
will be expected to abide by all the Company’s policies and procedures.

 

Review:  Your performance will be formally reviewed no
less than annually.

 

Start Date:  To be determined.

 

Expiration
Date: This offer expires Wednesday, December 31, 2003,
unless accepted by you prior to this date.

 

Confidentiality:  As you are aware, it is
very important for us to protect our confidential information and proprietary
material.  Therefore, as a condition of
employment, you will need to sign the attached Proprietary Information and
Inventions Agreement.  As further
condition of your employment, you agree to refrain from any unauthorized use of
disclosure of the Company’s proprietary or confidential information or
materials.  By accepting this offer, you
are also representing that you are not a party to any agreement with any third
party or prior employer that would conflict with or inhibit your performance of
your duties with the Company.

 

Other: In
addition to performing the duties and responsibilities of your position, you
will be expected to perform other duties and responsibilities that may be
assigned to you from time to time.  No
provision of this letter shall be construed to create an express or implied
employment contract for a specific period of time.  Either you or the Company may terminate this
employment relationship at any time, with or without cause.  If you are terminated without cause you will
be entitled to receive salary and benefits for a period of six (6) months from
the date of termination.  This at-will
employment relationship cannot be changed except in writing, signed by a
Company officer.

 

This letter, together
with the Proprietary Information and Inventions Agreement, constitutes the
complete, final and exclusive embodiment of your employment.  In entering into this agreement, neither
party is relying upon any promise or representation, written or oral, other
than those expressly contained herein, and this agreement supersedes any other
such promises, representations or agreements. 
It may not be amended or modified except in a written agreement signed
by you and a duly authorized Company officer. 
The laws of the State of California shall govern this letter.  Also, by signing this letter, you are
indicating that you are legally authorized to work in the U.S.

 

 

To ensure rapid and
economical resolution of any disputes that may arise under this agreement, you
and the Company agree that any and all disputes or controversies of any nature
whatsoever, regarding the interpretation, performance, enforcement or breach of
this Agreement will be resolved by confidential, final and binding arbitration
(rather than trial by jury or court or resolved in some other forum) under the
then-existing rules of Judicial Arbitration and Mediation Services (JAMS).

 

You may accept this offer
of employment by signing both copies of this letter and Proprietary Information
and Invention Agreements and returning one of each to George Scangos, President
and Chief Executive Officer.

 

Frank, we look forward to
your coming on board!

 

Sincerely,

 

	
  /s/ George Scangos

  	
   

  	
   

  
	
   

  	
   

  
	
  George Scangos

  	
   

  
	
  President and Chief
  Executive Officer

  	
   

  
	
   

  	
   

  
	
  ACCEPTED BY:

  	
   

  
	
   

  	
   

  
	
  /s/ Frank Karbe

  	
   

  	
  1/11/2004

  	
   

  
	
  Frank Karbe

  	
  Date

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00069-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00069-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00069-of-00352.parquet"}]]