QLT Inc. – January 17, 2008 WITHOUT PREJUDICE Dear Alain, We Confirm That We Have Mutually Agreed That Your Employment With QLT Will End Effective February 29th, 2008. (January 25th, 2008)
In consideration of your commitments described below, QLT will pay to you the amounts, and provide to you the benefits, set out in Section 5.2 and 5.3 of the Employment Agreement entered into between you and QLT and dated May 19th, 2000 (the Employment Agreement) in the manner described below. The payment of those amounts and the provision of those benefits are subject to certain other obligations set out in the Employment Agreement which expressly survive termination of the Employment Agreement. Until accepted by you, the offer set out in this letter agreement is made on a without prejudice basis.