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Exhibit 10.2
 
AMENDMENT TO EMPLOYMENT OFFER LETTER FOR CHANGE OF CONTROL
 
This Letter Agreement is made on May 6, 2019 between Mutya Harsch (“Executive”),
Foamix Pharmaceuticals Ltd. (“Foamix”) and Foamix Pharmaceuticals Inc., a
wholly-owned subsidiary of Foamix (“Foamix Pharmaceuticals Inc.”). Reference is
made to the Offer Employment Letter (the “Offer Letter”) dated as of November 1,
2017 between Executive and Foamix Pharmaceuticals Inc.
 
In order to attract and retain the services of senior management, and to assure
the present and future continuity, objectivity and dedication of management in
the event of any change in control, each of Executive, Foamix and Foamix
Pharmaceuticals Inc. wish to amend the Offer Letter to incorporate certain
severance payments and benefits on certain terminations of employment in
connection with a change of control of Foamix.
 
In furtherance of this purpose, the Offer Letter shall be amended by adding the
following paragraphs to the Offer Letter following the definition of Cause.
Capitalized terms used herein but not defined shall have the terms ascribed to
them in the Offer Letter.
 
Notwithstanding the above, if your employment is terminated by the Company
without Cause or by you for Good Reason within the six (6) month period before,
or the twelve (12) month period after, a Change of Control (a “Qualifying Change
of Control Termination”), you will be entitled to receive a change of control
payment equal to twelve (12) months of your then current base salary plus the
COBRA Continuation (as defined below), subject to your delivery of an executed
release to the Company acceptable to the Company in its sole discretion.
 
“COBRA Continuation” shall mean reimbursement of your COBRA premiums until the
earlier of (a) the first anniversary of your date of termination of employment
or (b) the date on which you become covered under another employer’s medical
plan.
 
Furthermore, notwithstanding the terms of the Foamix equity incentive plan under
which your equity awards are granted or any applicable award agreements, in the
event of a Qualifying Change of Control Termination, all of your outstanding,
unvested Foamix employee stock options and unvested restricted stock units, if
any, shall become fully vested and any restrictions thereon shall lapse.
 
For purposes of the above paragraph:
 
“Good Reason” means: (a) a material reduction in the Executive’s base salary,
(b) a material reduction in the Executive’s target annual bonus opportunity; (c)
a relocation of the Executive’s principal place of employment by more than
twenty-five  (25) miles; or (d) an adverse change in the Executive’s position,
including title, reporting relationship(s), authority, duties or
responsibilities; all of the above without the Executive’s consent.
 

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“Change of Control” means (a) one person or a group acquires the beneficial
ownership of stock of Foamix or any subsidiary of Foamix that results in that
person or group owning more than 50% of the total fair market value or total
voting power of the stock of Foamix or any of its subsidiaries, (b) a majority
of the members of the Board of Directors of Foamix are replaced during any
twelve (12)-month period by directors whose appointment or election is not
endorsed by a majority of the Board before the date of appointment or election,
or (c) one person or group acquires all or substantially all of the assets of
Foamix or any of its subsidiaries. Notwithstanding the foregoing, the term
Change in Control will not include a sale of assets, merger or other transaction
effected primarily for the purpose of changing the domicile of the Company.
 
The change of control payments set forth above (both outside the Change of
Control context and within the Change of Control context) will be paid in a lump
sum within sixty (60) days following the date of termination of employment or
sixty (60) days following the Qualifying Change of Control, whichever is later. 
All payments pursuant to this offer letter will be subject to applicable
deductions and withholdings.
 
The payments and benefits under this offer letter are intended to qualify for
exemptions from the application of Section 409A of the Internal Revenue Code
(“Section 409A”), and this offer letter will be construed to the greatest extent
possible as consistent with those provisions, and to the extent not so exempt,
this offer letter (and any definitions hereunder) will be construed in a manner
that complies with Section 409A to the extent necessary to avoid adverse
taxation under Section 409A.   Notwithstanding anything to the contrary herein,
to the extent required to comply with Section 409A, a termination of employment
shall not be deemed to have occurred for purposes of any provision of this offer
letter providing for the payment of amounts or benefits upon or following a
termination of employment unless such termination is also a “separation from
service” within the meaning of Section 409A.  Your right to receive any
installment payments will be treated as a right to receive a series of separate
payments and, accordingly, each installment payment shall at all times be
considered a separate and distinct payment. Notwithstanding any provision to the
contrary in this offer letter, if you are deemed by the Company at the time of
your separation from service to be a “specified employee” for purposes of
Section 409A, and if any of the payments upon separation from service set forth
herein and/or under any other agreement with the Company are deemed to be
“deferred compensation,” then, to the extent delayed commencement of any portion
of such payments is required in order to avoid a prohibited distribution under
Section 409A and the related adverse taxation under Section 409A, such payments
shall not be provided to you prior to the earliest of (i) the expiration of the
six-month period measured from the date of separation from service, (ii) the
date of your death or (iii) such earlier date as permitted under Section 409A
without the imposition of adverse taxation.   With respect to payments to be
made upon execution of an effective release, if the release revocation period
spans two calendar years, payments will be made in the second of the two
calendar years to the extent necessary to avoid adverse taxation under Section
409A.
 
Other than as set forth herein, this Letter Agreement shall not otherwise affect
the terms and conditions of the Offer Letter.  This Letter Agreement shall be
governed by the laws of the State of New Jersey.
 

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IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed as of
the date set forth above.
 
MUTYA HARSCH
 
By:          ____________________________________
 
Name:     ____________________________________
 
Title:       ____________________________________
 
FOAMIX PHARMACEUTICALS LTD.
 
By:          ____________________________________

 
Name:     ____________________________________
 
Title:       ____________________________________
 
FOAMIX PHARMACEUTICALS INC.
 
By:          ____________________________________

 
Name:     ____________________________________
 
Title:       ____________________________________
 

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