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Exhibit 10.18
D-Novo Therapeutics, Inc.
28202 Cabot Road, Suite 200
Laguna Niguel, CA 92677
December 11, 2001
John G. Curd, MD
Dear John:
I am pleased to offer you the position of
President and Chief Medical Officer for D-Novo Therapeutics
effective January 1, 2002. You will report to the Chief
Executive Officer. 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 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 option pool). A copy of the Incentive Stock Option
Agreement and the
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