[LOGO ILLUMINA]
Exhibit 10.33
April 26, 2005
Christian Henry
Re: Illumina, Inc.
Dear Christian;
It gives me great pleasure to set forth the principal terms for you to join
Illumina, Inc. (the "Company").
Position: VP and Chief Financial Officer
Responsibilities: The VP and Chief Financial Officer is a position of both
strategic and functional leadership having primary
responsibility for the overall financial activities of
the Company as well as being involved in the architecture
of the Company's financial and business vision. Principal
responsibilities include:
- Participating as a key member of the management team
in corporate strategic planning,
- Developing the financial goals and strategy of the
company,
- Providing management and financial reporting to the
operating groups of the company,
- Ensuring the company is well funded through an
appropriate combination of equity and debt
financings,
- Leading the annual financial planning process,
- Over time, developing as a key contact for Wall
Street analysts and investors,
- Implementing the financial aspects of the company's
ERP system,
- Maximizing the return on investment of the company's
cash resources while maintaining a suitable risk
profile,
- Assuming a leadership role in corporate
acquisition activities,
- Coordinating the corporate risk management
program,
- Minimizing corporate tax obligations,
- Negotiating lines of credit,
- Recruiting key personnel into the finance team,
- Managing the corporate facilities program,
- Participating in contract negotiations,
- Other such matters that may be determined by
the management team.
As a Company employee you will be expected to abide
by all the Company policies and procedures and sign
and comply with the Company's standard form of
Proprietary Information and Inventions Agreement,
which prohibits unauthorized use or disclosure of
the Company's proprietary information. In compliance
with federal immigration law, you will be required
to provide documentary evidence of your identity and
eligibility of employment in the United States.
Reporting: (Direct Mgr) Reporting to Jay Flatley, President and CEO.
Compensation: For full-time regular employment, your base salary
will be $9,230.77, payable every other week, one
week in arrears and subject to standard payroll
deductions and withholdings. Your first paycheck
will be prorated based on your employment start
date.
Equity: Subject to approval by the Stock Option Committee,
you will be granted an option to purchase 100,000
shares of Common Stock at a purchase price equal to
the closing price of such shares on your first day
of employment. The shares are subject to standard
vesting over a five-year period, with 20% of the
shares vesting after one year from employment Start
Date of your full-time employment and thereafter
1/60th per month for the remaining 48 months. The
options will be granted pursuant to the Company's
2000 Stock Plan.
Executive Bonus: You will participate in our Executive Bonus Plan at
a 25% level. Your first year's pay out will be
prorated, based on the number of full months that
you are on board. Plans are currently being
developed, and are based on both
Corporate financial targets (2/3 of pay out) and
personal objectives (1/3 of pay out).
Relocation: Provided that you relocate to within 25 miles of
Illumina within 2 years of your start date, you will
receive $20,000 as relocation compensation. This
amount is subject to standard payroll deductions and
withholdings, and payable on your first payday after
you complete your move. If you voluntarily leave the
Company within one (1) year of your relocation date,
you will be required to pay back a prorated amount.
Benefits: You will be entitled to receive the Company's
standard benefits. These include medical, dental and
vision insurance, which begin the first day of the
following month after your hire. Life insurance,
long/short-term disability insurance, employee
assistance plan and 401(k) begin on your date of
hire.
Employment at Will: Your employment will be at-will, which means it may
be terminated at any time by you or the Company for
any reason or for no reason. This at-will employment
relationship cannot be changed except by written
agreement signed by the CEO of the Company.
Start Date: Your first day of full-time regular employment will
be May 23, or an otherwise mutually agreeable date.
Expiration of Offer: This offer will be valid for 7 days from the date
of this letter.
This letter contains the complete, final and exclusive embodiment of the terms
of your employment with the Company. This letter shall be governed by California
law without regard to conflict of laws principles.
Christian, we are very excited about the prospects of working together and hope
that you will join us in building a pre-eminent life sciences company. If the
foregoing accurately reflects our agreement, please so indicate by signing where
indicated below and returning the enclosed duplicate copy of this letter to me.
Sincerely,
Jay Flatley
President and CEO
Illumina, Inc.
The foregoing is agreed and accepted.
_____________________________________ _______________________________
Christian Henry Date