EX-10.1
from 8-K
14 pages
You Have Informed Salix Pharmaceuticals, Inc. (“Salix” And, Collectively With Its Subsidiaries and Affiliates and Their Respective Successors and Assigns, the “Company”) of Your Decision to Retire From the Company Effective on the Earlier of (A) January 30, 2015 and (B) the Date on Which a Successor Chief Executive Officer of Salix (The “Successor CEO”) Is Appointed by the Board of Directors of Salix (The “Retirement Date”). the Company Desires Your Continued Support, Following the Retirement Date, in the Transition of Your Duties and Responsibilities and Certain Other Matters, and You Are Willing to Provide Such Support as a Consultant on the Terms and Subject to the Conditions Set Forth Below. This Letter Agreement (This “Agreement”) Sets Forth the Mutual Understandings and Agreements We Have Reached Regarding These Matters. Accordingly, in Reliance on the Promises Made in This Agreement, You, Salix and Salix Pharmaceuticals, Ltd. (“Parent”) Agree as of the Date Set Forth Above as Follows: 1. Continuation of Employment
12/34/56