Dr. Ryuji Ueno, M.D., Ph.D., CEO, CSO & Chairman of the Board 4520 East West Highway, 3rd Floor Bethesda, Maryland 20814 Re: Amendment to Employment Agreement Dear Dr. Ueno:
Exhibit 10.6
November 15, 2007
PERSONAL AND CONFIDENTIAL
Xx. Xxxxx Xxxx, M.D., Ph.D., CEO, CSO & Chairman of the Board
0000 Xxxx Xxxx Xxxxxxx, 0xx Xxxxx
Xxxxxxxx, Xxxxxxxx 00000
0000 Xxxx Xxxx Xxxxxxx, 0xx Xxxxx
Xxxxxxxx, Xxxxxxxx 00000
Re: Amendment to Employment Agreement
Dear Xx. Xxxx:
This letter will reflect the agreement between you and Sucampo Pharmaceuticals, Inc. (the
“Company”) upon certain amendments to the terms of the Employment Agreement between you and the
Company dated June 16, 2006.
Effective as of the first payroll period in June 2007, your Base Salary has been increased to
the annual rate of $500,000. In addition, effective immediately, the terms of your Employment
Agreement concerning Stock Compensation have been altered to eliminate the current restrictions on
your eligibility to receive future stock or option grants by deleting any reference to the “Equity
Eligibility Date.”
Consistent with the requirements for modification set forth in Section 6.3 of the Employment
Agreement, this letter will document the mutual agreement between you and the Company to amend
Section 3.1(a) of your Employment Agreement to reflect this increase in Base Salary and Section
3.1(b) of your Employment Agreement to reflect this change to your Stock Compensation.
The foregoing are the only changes to the terms of the Employment Agreement to be made at this
time. Please indicate your agreement to these modifications of the Employment Agreement by
countersigning the enclosed copy of this letter in the space provided below and returning the same
to me for the Company’s files.
Thank you for your cooperation.
Sincerely, |
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/s/ V. XXX XXXXXX | ||||
V. Xxx Xxxxxx | ||||
Chairperson, Compensation Committee Board of Directors | ||||
Acknowledged and accepted this 26th day of November, 2007.
/s/ XXXXX XXXX | ||||
Xx. Xxxxx Xxxx, M.D., Ph.D. | ||||