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[MOLECULAR DEVICES LETTERHEAD]
July 25, 2000
Patricia C. Sharp
320 Harding Avenue
Los Gatos, California 95032
Dear Pat:
Molecular Devices Corporation is pleased to confirm our verbal offer for the
salaried, exempt position of Vice President of Human Resources. In this position
you will report directly to me. This offer is contingent upon the successful
completion of professional references and background check.
Your base salary will be $15,416.66 per month ($185,000.00 per annum) payable
semi-monthly on the 15th and last day of each month. In addition, upon your
start date with MDC you will receive a bonus of $25,000. Upon the completion of
six (6) months satisfactory performance you will receive an additional $25,000.
You will also receive all the employment benefits available to regular full-time
employees of Molecular Devices.
As a member of the management staff, you will be eligible to participate in the
2000 MDC Executive Bonus Plan (bonus at Plan 40% prorated from time in
position).
You will be eligible to receive 47,500 Incentive Stock Options subject to the
approval of the Molecular Devices Board of Directors. These options will vest in
accordance with the Company's vesting schedule over a period of four (4) years,
and will be subject to the provisions of the Company's 1995 Stock Option Plan as
amended. In addition, you will receive 2,500 Restricted Options, which will vest
over two (2) years.
Upon your start date, as a condition of employment, you will be required to sign
an Employee Confidentiality and Inventions Agreement (copy of agreement
attached). Please review this agreement carefully; if you have any questions
regarding this agreement, please feel free to call me.
This offer is made contingent upon your ability to provide proof of
identification and authorization to work in the United States. Upon employment
at Molecular Devices, you will be required to furnish such documentation as
described in the enclosed materials.
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July 25, 2000
Additionally, this written offer constitutes all conditions and agreements of
Molecular Devices Corporation. Upon acceptance of this offer, please sign, date,
indicate your start date, and return this letter and the enclosed Application
Form to the Human Resources Department. However, if you have not responded to
this offer within five (5) days of receipt the offer will be withdrawn.
Pat, Molecular Devices Corporation is facing many exciting challenges as we
continue to grow. Your experience and talents will be strong additions to our
company and the Leadership Team. We are looking forward to having you join our
team.
Sincerely,
MOLECULAR DEVICES CORPORATION
/s/ JOSEPH D. KEEGAN
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Joseph D. Keegan
President and Chief Executive Officer
Attachments
Accepted: /s/ PATRICIA SHARP
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Date: 7/30/00
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Start Date: 9/5/00
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JK/jd
