1. Field of work
T he Employee is hired to work in the capacity of Senior Vice President, Corporate Development of the
Employer and of deCODE genetics, Inc., the parent company of the Employer (the “Parent”) and from
time to time will serve in such other positions as the Chief Executive Officer of the Employer (the “ CEO
”) or the Board of Directors of the Parent (the “ Board ”) may from time to time determine. The
Employee will have such powers and duties (including holding officer positions with one or more
Subsidiaries of the Parent) as may be assigned from time to time by the CEO or the Board and as are
generally associated with the position of Senior Vice President, Corporate Development and such other
positions. The Employee will work under the supervision of the CEO and the Board. “Subsidiary”
means any entity 50% or more owned, directly or indirectly, by the Parent.
The workplace is the Employer’s base of operations at Sturlugata 8, Reykjavík. If the Employer’s base
of operations in Reykjavík changes, or the number of bases within the greater Reykjavík area is
increased, the Employee agrees to change his workplace.
The Employer reserves the right to change the tasks of the Employee and administrative arrangements if
such changes are necessary in the opinion of the Employer and the Employee consents, provided,
however, that such changes do not negatively affect the Employee’s compensation and level of
2. Term of employment
The Employee shall begin work for the Employer on October 23, 2006.
The mutual notice period for termination as contemplated by Act No. 19/1979 on the Right of Workers
to Notice of Termination of Employment and to Wages During Absences Caused by Illness or Accident
shall be six (6) months for the Employee and twelve (12) months for the Employer.
The Employee pledges to perform his work faithfully and conscientiously. The Employee undertakes to
observe all instructions given by supervi