Mr. Paul Chaney 13 McGregor Avenue Mt. Arlington, NJ 07856 Re: Employment Agreement Dear Paul:Employment Agreement • May 3rd, 2006 • Osi Pharmaceuticals Inc • In vitro & in vivo diagnostic substances • New York
This letter is to confirm our understanding with respect to (i) your employment by OSI Pharmaceuticals, Inc. (the “Company”), (ii) your agreement not to solicit employees or customers of the Company, or any present or future parent, subsidiary or affiliate of the Company (each, a “Company Affiliate” and collectively, together with the Company, the “Company”, (iii) your agreement to protect and preserve information and property which is confidential and proprietary to the Company, and (iv) your agreement with respect to the ownership of inventions, ideas, copyrights and patents which may be used in the business of the Company (the terms and conditions agreed to in this letter are hereinafter referred to as the “Agreement”). In consideration of the mutual promises and covenants contained in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby mutually acknowledged, we have agreed as follows:
