INSPIRE PHARMACEUTICALS, INC. EXECUTIVE RETENTION BONUS AGREEMENTExecutive Retention Bonus Agreement • April 15th, 2011 • Inspire Pharmaceuticals Inc • Pharmaceutical preparations • North Carolina
This EXECUTIVE RETENTION BONUS AGREEMENT (this “Agreement”) is effective as of March 22, 2011 (the “Effective Date”), by and between Inspire Pharmaceuticals, Inc. (the “Company”), and XXXX (the “Executive”).
We are pleased to inform you that on April 5, 2011, Inspire Pharmaceuticals, Inc. (“Inspire”) entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Merck & Co., Inc., a company formed under the laws of New Jersey (“Merck”), and...Inspire Pharmaceuticals Inc • April 15th, 2011 • Pharmaceutical preparations
Under the terms of the Merger Agreement and subject to the conditions set forth in Merger Sub’s Offer to Purchase, dated April 15, 2011, and related materials enclosed with this letter, including, among other conditions, the minimum tender condition and the expiration or earlier termination of any waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, Merger Sub is commencing today a cash tender offer (the “Offer”) to purchase all of the outstanding shares of common stock, par value $0.001, of Inspire (the “Shares”), including all associated preferred stock purchase rights issued pursuant to the Rights Agreement, dated as of October 22, 2002, as amended, between Inspire and Computershare Trust Company, N.A. (the “Rights Agent”), at a price of $5.00 per Share, net to the seller in cash without interest and subject to any applicable withholding taxes.
