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Exhibit 10.17
D-Novo Therapeutics, Inc.
28202 Cabot Road, Suite 200
Laguna Niguel, CA 92677
December 11, 2001
Bradford S. Goodwin
Dear Brad:
I am pleased to offer you the position of Chief
Executive Officer for D-Novo Therapeutics effective December 15,
2001, reporting to the Board of Directors. The position of
President and Chief Medical Officer, which is simultaneously being
offered to John Curd, will report to the Chief Executive Officer
position. The Company will be located in the San Francisco
area.
Your base compensation will be $275,000 per
year. Your annual bonus opportunity will be 25% of your base
compensation ($68,750) based upon performance objectives to be
mutually agreed upon. You will be issued an option to purchase up
to 4.25% of the Common Stock of the Company with vesting over a
four-year period subject to approval by the Board of Directors. The
4.25% will be calculated after the Company’s Preferred Series
A-2 closes in the first quarter of 2002. It is anticipated that the
shares authorized and issued at that time will be 12,800,000
(including the option pool). You may also purchase
$100,00
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