March 26, 2004 Francis J. Lunger Chief Executive Officer Millipore Corporation Billerica, MA 01821 Dear Fran:Employment Agreement • May 7th, 2004 • Millipore Corp /Ma • Laboratory analytical instruments • Massachusetts
This letter agreement follows our discussions concerning the implementation by the Board of Directors of its succession plans for Millipore Corporation (the “Company”). As we have discussed, the Company wishes to retain your services as CEO for a period of time in order to permit an orderly transition of your duties and responsibilities to a successor and, to have the opportunity, thereafter, to have the benefit of your expertise and experience for a period of time as Chairman, as defined below. Therefore, the purpose of this letter is to confirm the agreement between you and the Company concerning the terms and conditions of your continued employment and your separation arrangements, as follows:
