Exhibit 10.29
[LOGO]
DRUGABUSE SCIENCES, SA
0 xxx xx Xxxxx
00 000 Xxxxxx
Xxxxxx
June 9, 1999
Xxxxxxxxx Xxxxxx
00 Xxx Xxxxxx
00000 Xxxxxx
Re: Employment Agreement
Dear Maryvonne:
On behalf of DrugAbuse Sciences, I am pleased and delighted to confirm the terms
of your employment with DrugAbuse Sciences, SAS, located 0 xxx xx Xxxxx 00000
Xxxxxx.Xxxx offer is conditional upon your acceptance of the terms and
conditions of this offer of employment and your execution of the attached
Employee Confidential Information and Inventions Agreement. Effective June 9,
1999, you will be employed as General Manager, in charge of the European
operations, reporting to the President , DAS SA.
Your base salary will be $60,000 per year, payable at the frequency and in
accordance with DrugAbuse Sciences' regularly established payroll policies. All
payments to you will be subject to legally required withholding. It is DrugAbuse
Sciences' policy to review salary and compensation levels periodically.
Accordingly, your base salary and other compensation may be adjusted from time
to time at DrugAbuse Sciences' sole discretion; raises in compensation are not
guaranteed. In addition you will retain the rights to the options already
granted to you as President (From April 8, 1998), subject to the terms agreed by
the Board, subject to continuous employment.
You will also be eligible to participate in the employee benefits collectively
available to our employees. As a regular employee of the Company, you will
accrue annually a total of five weeks vacation and be entitled to the standard
Company holidays.
You will devote your best efforts to the performance of your job for DrugAbuse
Sciences, SAS. While employed at DrugAbuse Sciences SAS, you will not undertake
any other activity requiring your business time and attention, nor will you
support any activity that is competitive with DrugAbuse Sciences' business or
pose a conflict of interest with that business. You will follow all DrugAbuse
Sciences' policies and procedures (including our policies protecting other
employees against discrimination and sexual harassment) as made available to you
from time to time. As a condition of your employment, you will execute DrugAbuse
Sciences' Employee Confidential Information and Inventions Agreement.
Page 2 of 2
Please sign and return a copy of this letter and the attached Employee
Confidential Information and Inventions Agreement to me, keeping a copy of each
for your records. The terms set forth in this letter supersede all prior
agreements, understandings and representations between us concerning the subject
matter of this letter. Changes to your employment agreement would apply only if
in writing and signed by the Company's CEO. We look forward to you becoming a
member of our team!
Sincerely,
/s/ Philippe Pouletty
Philippe Pouletty
President
I, Xxxxxxxxx Xxxxxx, understand and agree to the above terms. I understand that
my employment with DrugAbuse Sciences is at will, and I acknowledge that no
representations or promises other than those set forth above have been made to
me with regard to the terms and conditions of my employment.
Signed: /s/ Xxxxxxxxx Xxxxxx Date: June 9, 1999
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