VARIAGENICS INC
EX-10.2
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<h1 align="right" style="margin:0in 0in .0001pt;page-break-after:auto;text-align:right;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exhibit 10.2</font></b></h1>



<h1 align="left" style="margin:0in 0in .0001pt;page-break-after:auto;text-align:left;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></h1>



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  <p style="margin:0in 0in .0001pt;text-align:justify;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">To:</font></b></p>

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  <p style="margin:0in 0in .0001pt;text-align:justify;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Joseph S. Mohr</font></p>

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  <p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-autospace:none;">&nbsp;</p>

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  <p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-autospace:none;">&nbsp;</p>

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  <p style="margin:0in 0in .0001pt;text-align:justify;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">From:</font></b></p>

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  <p style="margin:0in 0in .0001pt;text-align:justify;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">David Housman</font></p>

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  <p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-autospace:none;">&nbsp;</p>

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  <p style="margin:0in 0in .0001pt;text-align:justify;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Date:</font></b></p>

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  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">June 1, 2002</font></p>

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  <p style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:justify;text-autospace:none;">&nbsp;</p>

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  <p style="font-size:12.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

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  <p style="margin:0in 0in .0001pt;text-align:justify;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Subject:</font></b></p>

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  <h1 style="margin:0in 0in .0001pt;page-break-after:avoid;text-align:justify;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">First Amendment to Employment Offer Letter</font></b></h1>

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<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; We

hereby agree that your Employment Offer Letter, dated September 5, 2001 and

comprised of the Offer Letter, the Inventions and Non-Disclosure Agreement and

the Non Compete and Non Solicitation Agreement (collectively, the &#147;Offer

Letter&#148;), be and hereby is amended effective June 1, 2002, as provided for

herein.&#160; Except as specifically modified

herein, the terms of the Offer Letter, and all terms and conditions of your

employment with Variagenics, Inc. (including any of its successors or assigns,

the &#147;Company&#148;) shall remain in full force and effect.&#160; This first amendment to your<font style="font-weight:bold;letter-spacing:0pt;text-decoration:underline;"><b><font style="text-decoration:none;">  </font></b></font>Offer

Letter shall be referred to herein as the &#147;Amendment.&#148;</font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Effective

June 1, 2002, the Offer Letter is revised by adding the following to the

conclusion of Paragraph &#147;(a)&#148;:</font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#147;Vesting

on a Change in Control.</font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p style="margin:0in 0in 6.0pt 1.0in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Upon the

effective date of a Change in Control, 50% of the then outstanding unvested

options to purchase shares of common stock of the Company held by you as of

such date (whether granted to you prior to or after execution of this

Amendment) shall be immediately vested and shall be otherwise exercisable in

accordance with the terms of the stock option agreement pursuant to which they

were granted.&#160; The remaining 50% of the

then outstanding unvested options shall vest monthly in six equal installments

beginning with the first day of the month following the effective date of the

Change in Control; provided that, all then remaining outstanding unvested

options shall immediately vest in their entirety if the Company terminates your

employment without Cause after the effective date of the Change in Control but

prior to the end of the six month period following such Change in Control<font style="font-weight:bold;letter-spacing:0pt;text-decoration:underline;"><b><font style="font-weight:normal;text-decoration:none;">.</font></b></font>&#160; Notwithstanding the prior sentence, your

employment with the Company remains an at-will relationship such that either

you or the Company may terminate the relationship at any time with or without

Cause or notice.&#160; For purposes of the

Offer Letter, as modified by this Amendment, Cause shall be defined as set

forth in Section 11 of the Variagenics, Inc. Amended 1997 Employee, Director

and Consultant Stock Option Plan<b><font style="font-weight:bold;">.</font></b></font></p>



<p style="margin:0in 0in 6.0pt 1.0in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u><font size="2" style="font-size:10.0pt;">Change in

Control Defined</font></u><font size="2" style="font-size:10.0pt;">. A &#145;Change in Control&#146; shall be deemed to have

occurred if (i) there is a sale or transfer of all or substantially all of the

assets of the Company in one or a series of transactions; (ii)&#160; any &#145;person,&#146; as such term is used in

Section 13(d) of the Securities Exchange Act of 1934, as amended (or any

successor provision) (the &#145;Exchange Act&#146;), together with all &#145;affiliates&#146; and

&#145;associates&#146; (as such terms are defined in Rule 12b-2 under the Exchange Act or

any successor provision) of such person, shall become the &#145;beneficial owner&#146; or

&#145;beneficial owners&#146; (as defined in Rules 13d-3 and 13d-5 under the Exchange Act

or any successor provision), directly or indirectly, of securities of the

Company representing in the aggregate thirty percent (30%) or more of either

(1) the then</font></p>



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<p align="center" style="margin:0in 0in 6.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1</font></p>





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<p style="margin:0in 0in 6.0pt 1.0in;text-autospace:none;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">outstanding

shares of common stock of the Company or (2) the combined voting power of all

then outstanding securities of the Company having the right under ordinary

circumstances to vote in an election of the Board of Directors of the Company

(hereafter referred to as an &#145;Acquisition&#146;); <u>provided</u>, that,

notwithstanding the foregoing, an Acquisition shall not be deemed to have

occurred for purposes of this clause (ii) solely as the result of an

acquisition of securities by the Company which, by reducing the number of

shares of common stock or other voting securities outstanding, increases (x)

the proportionate number of shares of common stock beneficially owned by any

person to thirty percent (30%) or more of the common stock then outstanding or

(y) the proportionate voting power represented by the voting securities

beneficially owned by any person to thirty percent (30%) or more of the

combined voting power of all then outstanding voting securities; or (iii) there

is a merger or consolidation between the Company and an entity other than a

subsidiary of the Company in which the Company is not the continuing or

surviving corporation and pursuant to which the holders of the Company&#146;s voting

stock immediately prior to such merger or consolidation would not be the

holders immediately after such merger or consolidation of at least 50% of the

voting stock of the continuing or surviving corporation.</font></p>



<p style="margin:0in 0in 6.0pt 1.0in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">All agreements

between you and the Company governing the grant to you of stock options shall

be and hereby are amended to the extent necessary to effectuate the provisions

of this Agreement.&#160; You acknowledge that

the acceleration of Incentive Stock Options (&#147;ISOs&#148;) granted pursuant to section

422 of the Internal Revenue Code (the &#147;Code&#148;) may cause certain of those

options to fail to satisfy section 422(d) of the Code, which may result in less

favorable individual tax treatment on such option.&#160; You understand and acknowledge such result and agree to the

conversion, as necessary, of ISOs to non-qualified stock options as a

precondition to the acceleration of the option grant described herein.&#160; ISOs with the least difference between

exercise price and fair market value on the date of the conversion shall be

converted to non-qualified options first.&#160;

In all other respects all such agreements between you and the Company

shall remain in full force and effect, and shall be administered in accordance

with their terms.</font></p>



<p style="margin:0in 0in 6.0pt 1.0in;text-autospace:none;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Notwithstanding

anything provided herein, if you are considered to be a &#145;disqualified

individual&#146; (as defined in Section 280G of the Code), and the acceleration of

vesting of options together with any other payments which you have a right to

receive from the Company (or its affiliates and subsidiaries) in the event of a

Change in Control (collectively the &#147;Severance Compensation&#148;), would constitute

a &#147;parachute payment&#148; (as defined in Section 280G(b)(2) of the Code), the

Severance Compensation shall be reduced.&#160;

The reduction shall be in an amount so that the present value of the

total amount received by you from the Company will be one dollar ($1.00) less

than three (3) times the Base Amount (as defined in Section 280G of the Code)

so that no portion of the amounts received by you shall be subject to the

excise tax imposed by Section 4999 of the Code (excise tax).</font></p>



<p style="margin:0in 0in 6.0pt 1.0in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The

determination as to whether any reduction in Severance Compensation is

necessary and the amount of any such reduction shall be made by the Company&#146;s

independent public accountants (the &#147;Accounting Firm&#148;) which shall provide

detailed supporting calculations both to the Company and to you within fifteen

(15) business days of the date payment is made.&#160; Any such determination by the Accounting Firm shall be conclusive

and binding upon you and the Company.&#160;

You shall determine which part of the Severance Compensation shall</font></p>



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<p align="center" style="margin:0in 0in 6.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>





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<p style="margin:0in 0in 6.0pt 1.0in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">be

eliminated or reduced consistent with the requirements of this section and you

will notify the Company promptly in writing; <u>provided</u>, that if you do

not make such a determination within ten (10) business days of the receipt of

the calculations made by the Accounting Firm, the Company shall determine which

part of the Severance Compensation shall be eliminated or reduced consistent

with the requirements of this section and shall notify you promptly in writing

of such election.</font></p>



<p style="margin:0in 0in 6.0pt 1.0in;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If

through error or otherwise you should receive payments under this Agreement,

together with other payments you have the right to receive from the Company, in

excess of one dollar ($1.00) less than three times your Base Amount, you shall

immediately repay the excess to the Company upon notification that an

overpayment has been made.&#148;</font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; It is understood and agreed that

this Amendment shall constitute a binding agreement upon execution by both

parties, and represents (along with the Offer Letter) the entire agreement and

understanding between us with respect to the subject matter contained herein.

If the terms of this Amendment are acceptable to you, please sign where indicated

below.&#160; This Amendment is executed as an

instrument under seal as of the date indicated below.</font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



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  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

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  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

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  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

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  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">VARIAGENICS, INC.</font></p>

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  <p style="font-size:12.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

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  <p style="font-size:12.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

  </td>

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  <p style="font-size:12.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

  </td>

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  <p style="font-size:12.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

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  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

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  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

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  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>

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  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/David Housman</font></p>

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  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

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  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

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  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

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  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

  </td>

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  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

  </td>

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  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">David

  Housman</font></p>

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  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Acknowledged

  and Agreed:</font></p>

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  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

  </td>

  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">

  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

  </td>

  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">

  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

  </td>

  <td width="4%" valign="top" style="padding:0in .7pt 0in .7pt;width:4.52%;">

  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

  </td>

  <td width="36%" valign="top" style="padding:0in .7pt 0in .7pt;width:36.28%;">

  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

  </td>

 </tr>

 <tr>

  <td width="28%" valign="top" style="padding:0in .7pt 0in .7pt;width:28.06%;">

  <p style="font-size:12.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

  </td>

  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">

  <p style="font-size:12.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

  </td>

  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">

  <p style="font-size:12.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

  </td>

  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">

  <p style="font-size:12.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

  </td>

  <td width="4%" valign="top" style="padding:0in .7pt 0in .7pt;width:4.52%;">

  <p style="font-size:12.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

  </td>

  <td width="36%" valign="top" style="padding:0in .7pt 0in .7pt;width:36.28%;">

  <p style="font-size:12.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

  </td>

 </tr>

 <tr>

  <td width="28%" valign="top" style="border:none;border-bottom:solid windowtext .5pt;padding:0in .7pt 0in .7pt;width:28.06%;">

  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/Joseph

  S. Mohr</font></p>

  </td>

  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">

  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

  </td>

  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">

  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

  </td>

  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">

  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

  </td>

  <td width="4%" valign="top" style="padding:0in .7pt 0in .7pt;width:4.52%;">

  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

  </td>

  <td width="36%" valign="top" style="padding:0in .7pt 0in .7pt;width:36.28%;">

  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

  </td>

 </tr>

 <tr>

  <td width="28%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:28.06%;">

  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Joseph S. Mohr</font></p>

  </td>

  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">

  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

  </td>

  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">

  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

  </td>

  <td width="10%" valign="top" style="padding:0in .7pt 0in .7pt;width:10.38%;">

  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

  </td>

  <td width="4%" valign="top" style="padding:0in .7pt 0in .7pt;width:4.52%;">

  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

  </td>

  <td width="36%" valign="top" style="padding:0in .7pt 0in .7pt;width:36.28%;">

  <p style="font-size:1.0pt;margin:0in 0in .0001pt;text-autospace:none;">&nbsp;</p>

  </td>

 </tr>

</table>



<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>



<p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>





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