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EXHIBIT 10.17
[AMICUS THERAPEUTICS LOGO]
May 12,2006
Mr. Douglas Branch
1816 Winding Ridge Road
Norman, Ok 73072
Dear Doug:
On behalf of Amicus Therapeutics, Inc. (the "Company"), I am
pleased to
confirm our offer to you for the position of Vice President &
General Counsel
reporting to me. Your start date will be mutually agreed upon but
no later then
June 5, 2006. With this offer you agree to devote no less then
two-thirds of
your time and professional efforts to Amicus Therapeutics.
Prior to the commencement of your employment you will be required
to
execute the Company's Confidentiality, Disclosure and
Non-Competition Agreement.
A copy of this agreement is attached. In addition, as a condition
of employment
Amicus requires a pre-employment drug screening.
In consideration for all your services to be rendered to the
Company
your annual base salary will be $200,000, to be paid bi-weekly in
accordance
with the Company's payroll practices. Upon the completion of
mutually agreed
upon individual goals and objectives as well as the achievement of
specific
Company goals, you will be eligible to receive a year end bonus
target of 25% of
your base salary, prorated for your date of hire, minus customary
deductions.
Upon approval by the Board of Directors, you will receive an
incentive
stock option to purchase 100,000 shares of the Company's common
stock, par value
$.01 per share (the "Common Stock") pursuant to a stock option
agreement in form
and substance acceptable to the Company. The options will become
exercisable
over a four-year period as follows: 25% on the first anniversary of
the date of
grant, and the remaining 75% in equal monthly increments
thereafter. The
exercise price of the options will be the fair market value of the
Company's
common stock on the date of grant. Shares issuable upon exercise of
each option
will be subject to certain transfer restrictions including the
right of first
refusal. Additionally, exercise of the options will be governed in
accordance
with the provisions of the Company's stock option plan.
You will be eligible to participate in the Company's health
benefits
program and are eligible to participate in the Company's 401(k) as
well as any
other employee benefit plan(s) that are generally made available by
the Company
to its employees from time to time when and as the Company may make
them
available.
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6 Cedar Brook Drive Cranbury, NJ 08512
T: 609-662-2000
F: 609-662-2001
www.amicustherapeutics.com
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Douglas Branch
May 12, 2006
Page #2 of 4
You will be eligible for paid Company holidays as outlined in
our
Holiday Policy and you will be eligible for twenty (20) days paid
vacation,
three weeks during the year and one between Christmas and New
Years. Vacation
accrues on a monthly basis. Because the Company expects to
regularly review its
benefit programs to keep them up to date and competitive, these
programs are
subject to periodic adjustments so that certain features may be
added, modified
or deleted over time.
From your date of hire until October 1, 2006, you primary place
of
business will be Oklahoma City, OK and you will be expected to be
in NJ
approximately 2 days per week. After October 1, 2006 your primary
place of
business will be Cranbury NJ. Given that you currently reside over
50 miles from
our
