March 23, 2006
Mr. Gregg Mayer
92 Hersey Street
Hingham, MA 02043
Dear Gregg:
On behalf of Interleukin Genetics, I
am pleased to offer you the position of Chief Business Officer.
This position reports to Dr. Philip Reilly, CEO. The
annualized compensation for this regular, full-time position is
$240,000, derived and paid monthly at the rate of $20,000.00 per
month. As part of your compensation, the Board of Directors has
approved that you be granted 8,000 shares of Interleukin
Genetics’ restricted stock, which will vest on the first
anniversary of your date of hire. Further stock awards will be
granted on an annual basis at the discretion of the Board of
Directors, based on your performance, and will be in line with
awards made to other senior managers at the Company.
As a regular full-time employee, you
will be able to participate in our employee benefit plans.
Interleukin Genetics currently offers group health and dental
plans, short- and long-term disability, life insurance and
accidental death and dismemberment insurance, as well as a
401(k) program and Employee Stock Purchase Program for our
regular full-time employees. Health and dental insurance coverage
is effective on your first day of work, if you elect coverage.
Interleukin Genetics also offers other benefit plans including
sick
