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Exhibit 10.71
December 19, 2008
Mr. Charles A. Portwood
Executive Vice President
TO&PS Operational Excellence
Wyeth
500 Arcola Road
Collegeville, PA 19426
Dear Charlie:
We are pleased to confirm your new
position with Wyeth as Executive Vice President, TO&PS
Operational Excellence, effective November 20, 2008. We would also
like to take this opportunity to confirm that you are still
entitled to severance of two years’ base salary in the event
that your employment is terminated by Wyeth for reasons other than
gross misconduct, theft, or conviction of a felony, as set forth in
your offer letter dated October 5, 2001, subject to the changes set
forth below (any severance to be paid in connection with a change
of control shall be governed by the Change of Control Agreement
entered into by and between you and Wyeth).
In the event that your employment is
terminated by Wyeth for reasons other than gross misconduct, theft,
or conviction of a felony then, in exchange for executing a general
release of all claims (in
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