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Exhibit 10.9
Light Sciences Oncology, Inc.
(LIGHT SCIENCES ONCOLOGY LOGO)
34931 SE Douglas Street, Suite 250, Snoqualmie, Washington
98065
CONFIDENTIAL INFORMATION
September 21st, 2005
Erik Hagstrom
23515 82nd Ave. SE
Woodinville, WA 98072
DEAR ERIK,
I am very pleased to confirm our offer of employment with Light
Sciences
Oncology, Inc. This letter sets forth the terms of your
employment.
1. Position and Reporting Relationships. Your job title will be
VICE PRESIDENT,
ENGINEERING and you will be reporting to JAY WINSHIP. During your
employment,
you will devote your full working time and attention to the
business of LSO to
the exclusion of all other business activities and will not be
employed (e.g.,
as an employee or independent contractor) by any other business,
without the
prior approval of LSO.
2. Compensation
(a)
You will receive an annual base salary of $155,000.00, subject
to
payroll withholding and deductions. The salary will be payable
twice per
month in accordance with LSO's standard payroll practices. Your
base salary
will
be reviewed annually by the appropriate management of LSO.
(b) LSO's management
intends to recommend to the Board of Directors that it
approve a performance bonus plan and a stock option plan. The
details of
the
adopted plans as well as the eligibility and specifics of any
awards to
you
will be communicated to you after action by the Board of
Directors.
3. Benefits. You will be eligible to participate in LSO employee
benefit
programs made available to all employees, subject to and in
accordance with the
eligibility and other terms and conditions of the applicable
programs. These
programs are currently expected to include health care coverage
(medical/dental/vision/prescription), short term and long term
disability, group
life and accidental death benefit, travel insurance, flexible
spending accounts
for health and dependent care expenses, Employee Assistance Program
(EAP) and a
401(k) retirement
Page 1 of 3
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savings plan. All benefits generally are effective upon your date
of hire with
the exception of health coverage, which will be effective on the
first of the
month following your date of hire and the flexible spending account
which
requires enrollment. Your Light Sciences Corporation ("LSC") health
coverage
will continue until the la
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