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Jennifer K.
Crittenden
[address]
[address]
I am very
pleased to confirm the offer of employment made to you by Anadys
Pharmaceuticals, Inc. for the position of Vice President, Finance,
initially reporting to Michael Kamdar, Senior Vice President,
Corporate Development and Finance. This position is exempt from
state and federal requirements regarding overtime payments, meaning
you do not qualify for overtime. We anticipate your hire date to be
no later than February 22, 2005, however, the final date will
be mutually agreed upon. The details of this offer are as
follows:
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You will
receive a base salary of $7,083.33 paid semi-monthly in accordance
with the normal Anadys payroll cycle, which if annualized, amounts
to $170,000.00 per year.
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Upon
commencement of your employment with Anadys and subject to the
approval of the Board of Directors, you will be eligible for an
initial stock option grant allowing you to purchase 30,000 shares
of Anadys common stock at a fair market value on the date of the
grant. These stock options are subject to the terms and conditions
outlined in the Anadys Equity Incentive Plan. You will be provided
full details of the Anadys Equity Incentive Plan once you begin
employment.
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As a further
incentive for you to join Anadys, you will be given a one-time
sign-on bonus of $15,000, less applicable employment taxes. This
bonus will be paid to you over three quarters after your hire date.
Should you leave the Company within one year of your hire date you
will be required to reimburse Anadys for this sign-on bonus within
thirty days after your termination date. Should you receive a bonus
in excess of $5,000.00 from your current company, you will be
required to reimburse $5,000.00 to Anadys.
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You are
eligible to receive an annual discretionary bonus of between 0
— 20% of your then current annual base salary, contingent
upon your own and th
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