Exhibit 10.18
PREMIER RESEARCH WORLDWIDE, LTD.
000 X. 00xx Xxxxxx
Xxxxxxxxxxxx, Xxxxxxxxxxxx 00000-0000
PREMIER, Inc.
0000 Xxxxxxxxx Xxxx Xxxxx
P. O. Box 668800
Xxxxxxxxx, Xxxxx Xxxxxxxx 00000
Attention: Xxxxxxx X. Xxxxxxxx, M.D.
Dear Sirs:
This will confirm the following with respect to the Director Stock Option
Agreement of Premier Research Worldwide, Ltd., dated as of April 23, 1996 and
restated as of November 30, 1996 (the "Option Agreement"), to PREMIER, Inc. on
behalf of Xxxxxx Xxxxxxxx::
1. The Option Agreement is amended to substitute (a) the name "Xxxxxxx X.
Xxxxxxxx, M.D." for the name "Xxxxxx Xxxxxxxx", and (b) the name "Xxxxxxxx" for
the name "Xxxxxxxx" wherever they appear therein.
2. The option exercise price as of the date hereof equals $17 per share.
3. The option will become first exercisable on August 6, 1997 and, unless
earlier terminated in accordance with the Option Agreement, terminate on
February 7, 2002.
Please confirm your agreement with the foregoing by countersigning the enclosed
copy of this letter and returning it to me in the envelope which has been
provided.
Very truly yours,
PREMIER RESEARCH WORLDWIDE, LTD.
By: /s/ Xxxx Xxxxxx
----------------------------
Xxxx Xxxxxx, Chairman
Accepted and agreed to:
PREMIER, Inc.
By: /s/ Xxxxxxx X. Xxxxxxxx
-------------------------------
Xxxxxxx X. Xxxxxxxx, M.D.,
Executive Vice President
