June 29, 2006 Frederick Finnegan 409 Lincoln Road Sudbury, MA 01776 RE: Confidential Separation Letter Agreement and General Release Dear Rick:Confidential Separation Letter Agreement • July 14th, 2006 • Critical Therapeutics Inc • Pharmaceutical preparations • Massachusetts
This Confidential Separation Letter Agreement and General Release (the “Agreement”) sets forth and confirms the terms of the separation package that Critical Therapeutics, Inc. (the “Company”) is willing to offer you (“you” or the “Employee”) to establish an amicable arrangement for ending your employment relationship, to release the Company from any claims, and to permit you to receive severance pay and related benefits. Please read this Agreement carefully. If you are willing to agree to its terms, please sign and date in the space provided on the signature page and return it to Scott Townsend, the Company’s Vice President of Legal Affairs, so that your separation benefits can begin.
CRITICAL THERAPEUTICS, INC. 60 Westview Street Lexington, MA 02421 June 23, 2006Critical Therapeutics Inc • July 14th, 2006 • Pharmaceutical preparations • Massachusetts
In connection with the cessation of your employment with Critical Therapeutics, Inc. (the “Company”) on June 23, 2006, you are eligible to receive the severance benefits described in the “Description of Severance Benefits” attached to this letter agreement as Attachment A if you sign and return this letter agreement to Scott B. Townsend, Vice President of Legal Affairs, by July 14, 2006 and it becomes binding. By signing and returning this letter agreement, you will be entering into a binding agreement with the Company and will be agreeing to the terms and conditions set forth in the numbered paragraphs below, including the release of claims set forth in paragraph 4. Therefore, you are advised to consult with an attorney before signing this letter agreement and you may take up to twenty-one (21) days to do so. If you sign this letter agreement, you may change your mind and revoke your agreement during the seven (7) day period after you have signed it. If you do not so revoke, this lett
