Document:

Exhibit

Exhibit 10.1

950 Winter Street
Waltham, MA 02451
Tel: (617) 551-4000
Fax: (617) 551-4701

September 19, 2018

Gary Hattersley, Ph.D.
22 Brandymeade Circle
Stow, MA 01775

PERSONAL AND CONFIDENTIAL

Re: Separation Agreement and General Release of Claims
Dear Gary:
As we have discussed, this letter (the “Separation Agreement”) confirms your separation from employment with Radius Health, Inc. (the “Company”) effective as of November 1, 2018 (the “Separation Date”).  We thank you for your contributions to the Company.  We also wish to propose entering into a consulting relationship commencing on the Separation Date, the terms of which are set forth in the accompanying consulting agreement (the “Consulting Agreement”).  
This Separation Agreement and the Consulting Agreement set forth the agreement between you and the Company related to your separation.
Accrued Rights
In connection with the ending of your employment, the Company shall pay or provide you with all of the “Accrued Rights” detailed in your Executive Severance Agreement dated July 1, 2015 (the “Severance Agreement”), including:
		
	•
	pay you salary accrued to you through the Separation Date; 

		
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	pay you for all accrued but unused paid time off through the Separation Date;

		
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	provide you with the right to continue group health care coverage after the Separation Date under the law known as “COBRA,” which will be described in a separate written notice; and

		
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	reimburse you for any outstanding, reasonable business expenses that you have incurred on the Company’s behalf through the termination of your employment, after the Company’s timely receipt of appropriate documentation pursuant to the Company’s business expense reimbursement policy.

www.radiuspharm.com

Stock Options

Under the Radius Health, Inc. 2011 Equity Incentive Plan (as Amended and Restated) (the “Equity Plan”) or any predecessor plan, if you enter into the Consulting Agreement, then effective on the Separation Date, the options that you hold to purchase shares of the Company’s common stock will continue to vest during the period of your consulting relationship with the Company and the final period to exercise your vested options will only begin at the end of your consulting relationship (subject to any earlier “Expiration Date” (as set forth in the applicable stock option agreement for the award); provided, however, that, for the avoidance of doubt, you may exercise your vested options during the period you remain in continuous service with the Company as either an employee or consultant.   

You acknowledge that the following summarizes all vested options that have not been exercised as of the date of this letter and that shall remain exercisable by you as of the anticipated end date of your consulting relationship with the Company—November 1, 2019:

	
											
	Option Type
	Grant Date
	Grant
Price
	Shares
Granted
	Shares 
already Exercised
	Unvested
Shares that
will Forfeit
	Vested and
Exercisable at
November 1, 2019
	

Last Day to
Exercise as
ISO

	

Last Day to Exercise
NQSO

	Incentive*
	11-07-2011
	

	$7.34
	

	18,285
	0
	0
	18,285
	02-01-2019
	02-01-2020

	Incentive*
	06-05-2014
	

	$8.00
	

	42,659
	0
	0
	42,659
	02-01-2019
	02-01-2020

	Non-Qualified
	06-05-2014
	

	$8.00
	

	77,955
	0
	0
	77,955
	 
	02-01-2020

	Incentive*
	12-17-2014
	

	$30.97
	

	3,228
	0
	0
	3,228
	02-01-2019
	02-01-2020

	Non-Qualified
	12-17-2014
	

	$30.97
	

	96,772
	0
	0
	96,772
	 
	02-01-2020

	Non-Qualified**
	02-10-2016
	

	$29.89
	

	6,470
	0
	3,125
	3,345
	 
	02-01-2020

	Non-Qualified
	02-10-2016
	

	$29.89
	

	68,530
	0
	3,125
	65,405
	 
	02-01-2020

	Non-Qualified
	02-17-2017
	

	$45.65
	

	75,000
	0
	25,000
	50,000
	 
	02-01-2020

	Non-Qualified
	02-13-2018
	

	$37.83
	

	60,000
	0
	35,000
	25,000
	 
	02-01-2020

	Total:
	448,899
	0
	66,250
	382,649
	 
	 

*Please note that, notwithstanding your continued vesting pursuant to your consulting relationship with the Company, under applicable tax rules, any vested incentive stock options (“ISOs”) that are outstanding as of the Separation Date must be exercised by 02-01-2019 (i.e., three months after the Separation Date) to retain ISO status and receive preferential tax treatment.  Any vested ISOs that remain outstanding and exercisable after 02-01-2019 will be reclassified as non-qualified stock options (“NQOs”). 

**These options were granted as ISOs, however, because none will have qualified for vesting as of the Separation Date, under applicable tax rules they will be reclassified as NQOs.

All of your options that are not vested as of the final day of your consulting relationship with the Company (whether such date is November 1, 2019 or an earlier date pursuant to Section 3 of the Consulting Agreement) shall lapse on that date and will not be exercisable.

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The exercise of any vested stock options shall be subject to the terms of the Equity Plan and applicable award agreements, including, without limitation, the time limits on exercise, and nothing in this Separation Agreement is intended to modify in any respect the terms of the Equity Plan.  This summary is set forth solely to confirm certain information concerning your stock options.  
Severance
Further, because the ending of your employment constitutes a “Qualifying Termination” as defined in Sections 1(i) and 2(a) of the Severance Agreement, the Company shall provide you with the following additional severance benefits provided that you (i) execute and do not revoke the General Release of Claims in favor of the Company attached hereto as Exhibit A within the time period specified in Exhibit A, and (ii) execute and comply with this Separation Agreement and comply with the Severance Agreement.  Exhibit A attached hereto is the “Release” defined in Section 2(d) of the Severance Agreement.
		
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	Severance Pay – Pursuant to Section 2(a)(ii) of the Executive Severance Agreement, the Company will pay you severance pay consisting of your salary at your final base salary rate of $434,500 per year effective for the six (6) month period immediately following the Separation Date (the “Salary Severance Period”), which equals a total severance payment of $217,250 (the “Severance Pay”).  The Company shall pay you the Severance Pay in a fully taxable lump sum on the next regular payroll date after the Release becomes effective.    

		
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	Annual Bonus – Because you have already received your annual bonus for the 2017 calendar year, you are not entitled to any further payments under Section 2(a)(iii) of the Severance Agreement. 

		
	•
	Health Benefits – Pursuant to Section 2(a)(iv) of the Severance Agreement, the Company will pay you a fully taxable lump sum cash payment equal to the COBRA premiums necessary to continue your health insurance coverage (in effect on the Separation Date) for a period of 6 months, without regard to whether you elect continuation coverage under COBRA, subject to applicable tax withholding (the “COBRA Pay”). The Company shall pay you the COBRA Pay on the next regular payroll date after the Release becomes effective.

The Company shall make deductions, withholdings and tax reports with respect to the payments and benefits detailed herein that it reasonably determines to be required.  The payments detailed in this Separation Agreement shall be in amounts net of any such deductions or withholdings, and nothing in this Separation Agreement shall be construed to require the Company to make any payments to compensate you for any adverse tax effect associated with any payments or benefits or for any deduction or withholding from any payment or benefit.  You acknowledge that you are not entitled to any severance benefits, equity rights or other compensation except as expressly set forth in this Separation Agreement.  
Amendment to Confidentiality and Non-Compete Agreement

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In addition, provided that you execute and do not revoke the Release within the time period specified in Exhibit A, and execute and comply with this Separation Agreement and comply with the Severance Agreement, Section 11(i) of your Confidentiality and Non-Compete Agreement (as defined below) shall be deleted in its entirety and replaced with the following language:
“(i)  While I am employed (whether as an employee or consultant) at the Company and for a period of one (1) year immediately following termination of such employment (for any reason whatsoever, whether voluntary or involuntarily), I agree that I will not, whether alone or as a partner, officer, director, consultant, agent, representative, employee or security holder of any company or their commercial enterprise, directly or indirectly engage in, have an equity interest in, interview for a potential employment or consulting relationship with or manage, provide services to or operate any person, firm, corporation, partnership, association, other entity or business or other activity anywhere in the world that engages in business related to the research, discovery, development and/or commercialization of: (i) therapeutics to treat osteoporosis, (ii) selective estrogen receptor down-regulator/degrader (SERD) compounds for breast cancer, and/or (iii) nonsteroidal selective androgen receptor modulator (SARM) agonist compounds for breast cancer (collectively, the “Company's Business”). The foregoing prohibition shall not prevent my employment or engagement after termination by a company engaged in the Company’s Business provided that my employment or engagement, in any capacity, does not involve work or matters related to the Company’s Business. I shall be permitted to own securities of a public company not in excess of five (5%) of any class of such securities and to own stock partnership interests or other securities of any entity not in excess of five (5%) of any class of such securities and such ownership shall not be considered to be competition with the Company.”
Assignment
This Separation Agreement shall be binding upon and inure to the benefit of the Company’s successors and assigns. Without limiting the foregoing, the Company may assign its rights and obligations hereunder in whole or in part to any of its affiliates or to any transferee of all or a portion of the assets or business of the Company. You may not assign any of your rights or obligations hereunder.
Continuing Obligations
Finally, as a reminder, if you breach any of your obligations under the Confidentiality and Non-Competition Agreement between you and the Company dated July 8, 2004, as amended herein (the “Confidentiality and Non-Compete Agreement”) or the Release, in addition to any other legal or equitable remedies it may have for such breach, the Company shall have the right to terminate its payments to you or for your benefit described herein.  The termination of such payments or benefits in the event of your breach will not affect your continuing obligations under the Confidentiality and Non-Compete Agreement or the Release.  

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Please sign and return this Separation Agreement along with the Release within the timeframe set forth in Section 1 of the Release.  This Separation Agreement may be executed in separate counterparts.  When both counterparts are signed, they shall be treated together as one and the same document.  This Separation Agreement shall be interpreted and enforced under the laws of the Commonwealth of Massachusetts, without regard to conflict of law principles.

Sincerely,

/s/ Jesper Høiland

Jesper Høiland
President and Chief Executive Officer
Enclosure (Exhibit A)

You are advised to consult with an attorney before signing this Separation Agreement. This is a legal document.  Your signature will commit you to its terms.  By signing below, you acknowledge that (i) you have carefully read and fully understand all of the provisions of this Separation Agreement, (ii) you are knowingly and voluntarily entering into this Separation Agreement, and (iii) you are not relying upon any promises or representations made by anyone at or on behalf of the Company.  
 

/s/ Gary Hattersley                        Dated:  September 19, 2018        
Gary Hattersley, Ph.D.                    
 

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EXHIBIT A

GENERAL RELEASE OF CLAIMS 
This General Release of Claims (“Release”) is entered into between Gary Hattersley, Ph.D. (“Executive”), and Radius Health, Inc., (the “Company”) (collectively referred to herein as the “Parties”).
WHEREAS, Executive and the Company are parties to that certain Executive Severance Agreement dated as of July 1, 2015 (the “Agreement”);
WHEREAS, the Parties agree that Executive is entitled to certain severance benefits under the Agreement as detailed in the Company’s letter to the Executive dated September 19, 2018 (the “Separation Agreement”), subject to Executive’s execution of this Release; and
WHEREAS, the Company and Executive now wish to fully and finally to resolve all matters between them.
NOW, THEREFORE, in consideration of, and subject to, the severance benefits payable to Executive pursuant to the Separation Agreement, the adequacy of which is hereby acknowledged by Executive, and portions of which Executive acknowledges that he or she would not otherwise be entitled to receive, Executive and the Company hereby agree as follows:
1.    General Release of Claims by Executive.  
(a)    Executive, on behalf of himself or herself and his or her executors, heirs, administrators, representatives and assigns, hereby agrees to release and forever discharge the Company and all predecessors, successors and their respective parent corporations, affiliates, related, and/or subsidiary entities, and all of their past and present investors, directors, shareholders, officers, general or limited partners, employees, attorneys, creditors, agents and representatives, and the employee benefit plans in which Executive is or has been a participant by virtue of his or her employment with or service to the Company (collectively, the “Company Releasees”), from any and all claims, debts, demands, accounts, judgments, rights, causes of action, equitable relief, damages, costs, charges, complaints, obligations, promises, agreements, controversies, suits, expenses, compensation, responsibility and liability of every kind and character whatsoever (including attorneys’ fees and costs), whether in law or equity, known or unknown, asserted or unasserted, suspected or unsuspected (collectively, “Claims”), which Executive has or may have had against such entities based on any events or circumstances arising or occurring on or prior to the date hereof, including without limitation Claims arising directly or indirectly out of, relating to, or in any other way involving in any manner whatsoever Executive’s employment by or service to the Company or the termination thereof, including without limitation any and all claims arising under federal, state, or local laws relating to employment, including without limitation claims of wrongful discharge, breach of express or implied contract, fraud, misrepresentation, defamation, or liability in tort, of retaliation or discrimination under federal, state or local law, claims under the Worker Adjustment and Retraining Notification Act, 29 U.S.C. § 2101 et seq., or the Fair Labor Standards Act, 29 U.S.C. § 201 et seq., claims for wages, bonuses, incentive compensation, 

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commissions, vacation pay or any other compensation or benefits, either under the Massachusetts Wage Act, M.G.L. c. 149, §§148-150C, or otherwise, claims under any state law or regulation, or local ordinance, including but not limited to the New Jersey Law Against Discrimination; New Jersey Statutory Provision Regarding Retaliation/Discrimination for Filing a Workers’ Compensation Claim, N.J. Rev. Stat. §34:15-39.1 et seq.; New Jersey Family Leave Act; New Jersey Security and Financial Empowerment Act; New Jersey Smokers’ Rights Law; New Jersey Equal Pay Act; New Jersey Genetic Privacy Act; New Jersey Conscientious Employee Protection Act (Whistleblower Protection), N.J. Stat. Ann. §34:19-3 et seq.; New Jersey Wage Payment and Work Hour Laws; New Jersey Public Employees’ Occupational Safety and Health Act; New Jersey Fair Credit Reporting Act; the Millville Dallas Airmotive Plant Job Loss Notification (mini-WARN) Act; New Jersey Fair Credit Reporting Act; New Jersey False Claims Act; New Jersey Civil Rights Act; New Jersey mini-COBRA; New Jersey laws regarding Political Activities of Employees, Lie Detector Tests, Jury Duty, Employment Protection, and Discrimination, claims for damages or other remedies of any sort, including, without limitation, compensatory damages, punitive damages, injunctive relief and attorney’s fees, and claims of any kind that may be brought in any court or administrative agency including, without limitation, claims under Title VII of the Civil Rights Act of 1964, as amended, 42 U.S.C. Section 2000, et seq.; the Americans with Disabilities Act, as amended, 42 U.S.C. § 12101 et seq.; the Rehabilitation Act of 1973, as amended, 29 U.S.C. § 701 et seq.; the Civil Rights Act of 1866, and the Civil Rights Act of 1991; 42 U.S.C. Section 1981, et seq.; the Age Discrimination in Employment Act, as amended, 29 U.S.C. Section 621, et seq. (the “ADEA”); the Equal Pay Act, as amended, 29 U.S.C. Section 206(d); regulations of the Office of Federal Contract Compliance, 41 C.F.R. Section 60, et seq.; the Family and Medical Leave Act, as amended, 29 U.S.C. § 2601 et seq.; the Fair Labor Standards Act of 1938, as amended, 29 U.S.C. § 201 et seq.; the Employee Retirement Income Security Act, as amended, 29 U.S.C. § 1001 et seq.; and any similar state or local law.  Executive agrees not to accept damages of any nature, other equitable or legal remedies for Executive’s own benefit or attorney’s fees or costs from any of the Company Releasees with respect to any Claim released by this Release.  
Notwithstanding the generality of the foregoing, Executive does not release the following:
(i)    Claims for unemployment compensation or any state disability insurance benefits pursuant to the terms of applicable state law; 
(ii)    Claims for workers’ compensation insurance benefits under the terms of any worker’s compensation insurance policy or fund of the Company; 
(iii)    Claims pursuant to the terms and conditions of the federal law known as COBRA; 
(iv)    Claims for indemnity under the bylaws of the Company or its affiliates, as provided for by law or under any applicable insurance policy with respect to Executive’s liability as an employee, director or officer of the Company pursuant to which Executive is covered as of the effective date of Executive’s termination of employment with the Company and its subsidiaries;

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(v)    Claims for payment under Section 2(a)(i) and (ii) of the Executive Severance Agreement
(vi)    Claims based upon the benefits, covenants and other provisions set forth in the Agreement, or arising from any breach thereof by the Company; and
(vii)    Any rights with respect to the Executive’s vested rights in the Equity Plan (as defined in the Separation Agreement) and in the Company’s 401(k) defined contribution plan (subject, in each case, to the terms and conditions of such plans and option award agreements, governing the same) and that cannot be released as a matter of applicable law, but only to the extent such rights may not be released under such applicable law.
(b)    Executive acknowledges that this Release was presented to him or her on September 19, 2018 and that Executive is entitled to have twenty-one (21) days’ time in which to consider it.  Executive further acknowledges that the Company has advised him or her that he or she is waiving his or her rights under the ADEA, and that Executive should consult with an attorney of his or her choice before signing this Release, and Executive has had sufficient time to consider the terms of this Release.  Executive represents and acknowledges that if Executive executes this Release before twenty-one (21) days have elapsed, Executive does so knowingly, voluntarily, and upon the advice and with the approval of Executive’s legal counsel (if any), and that Executive voluntarily waives any remaining consideration period.
(c)    Executive understands that after executing this Release, Executive has the right to revoke it within seven (7) days after his or her execution of it.  Executive understands that this Release will not become effective and enforceable unless the seven (7) day revocation period passes and Executive does not revoke the Release in writing.  Executive understands that this Release may not be revoked after the seven (7) day revocation period has passed.  Executive also understands that any revocation of this Release must be made in writing and delivered to the Company at its principal place of business within the seven (7) day period.
(d)    Executive understands that this Release shall become effective, irrevocable, and binding upon Executive on the eighth (8th) day after his or her execution of it, so long as Executive has not revoked it within the time period and in the manner specified in clause (c) above.  Executive further understands that Executive will not be given any severance benefits under the Agreement unless this Release is effective on or before the date that is thirty (30) days following the date of Executive’s termination of employment.
2.    Continuing Obligations.  Executive acknowledges that Executive’s obligations under the Confidentiality and Non-Competition Agreement between the Executive and the Company dated July 8, 2004, as amended, including the amendments thereto that are set forth in the Agreement, (the “Confidentiality and Non-Compete Agreement”) shall continue in effect.  The terms of the Confidentiality and Non-Compete Agreement are hereby incorporated by reference as material terms of this Release.  For the avoidance of doubt, however, pursuant to the federal Defend Trade Secrets Act of 2016, Executive shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that (a) is made (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for 

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the purpose of reporting or investigating a suspected violation of law; or (b) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.  
3.    Protected Disclosures and Other Protected Actions.  Nothing contained in this Release, the Agreement, or the Confidentiality and Non-Compete Agreement limits Executive’s ability to file a charge or complaint with any federal, state or local governmental agency or commission (a “Government Agency”).  In addition, nothing contained in this Release, the Agreement, or the Confidentiality and Non-Compete Agreement  limits Executive’s ability to communicate with any Government Agency or otherwise participate in any investigation or proceeding that may be conducted by any Government Agency, including Executive’s ability to provide documents or other information, without notice to the Company, nor does anything contained in this Release, the Agreement, or the Confidentiality and Non-Compete Agreement apply to truthful testimony in litigation.  If Executive files any charge or complaint with any Government Agency and if the Government Agency pursues any claim on Executive’s behalf, or if any other third party pursues any claim on Executive’s behalf, Executive waives any right to monetary or other individualized relief (either individually, or as part of any collective or class action); provided that nothing in this Release limits any right Executive may have to receive a whistleblower award or bounty for information provided to the Securities and Exchange Commission.
4.    No Assignment.  Executive represents and warrants to the Company Releasees that there has been no assignment or other transfer of any interest in any Claim that Executive may have against the Company Releasees.  Executive agrees to indemnify and hold harmless the Company Releasees from any liability, claims, demands, damages, costs, expenses and attorneys’ fees incurred as a result of any such assignment or transfer from Executive.
5.    Severability.  In the event any provision of this Release is found to be unenforceable by an arbitrator or court of competent jurisdiction, such provision shall be deemed modified to the extent necessary to allow enforceability of the provision as so limited, it being intended that the Parties shall receive the benefit contemplated herein to the fullest extent permitted by law.  If a deemed modification is not satisfactory in the judgment of such arbitrator or court, the unenforceable provision shall be deemed deleted, and the validity and enforceability of the remaining provisions shall not be affected thereby. 
6.    Interpretation; Construction.  The headings set forth in this Release are for convenience only and shall not be used in interpreting this Release.  This Release has been drafted by legal counsel representing the Company, but Executive has participated in the negotiation of its terms.  Furthermore, Executive acknowledges that Executive has had an opportunity to review and revise the Release and have it reviewed by legal counsel, if desired, and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Release.  Either Party’s failure to enforce any provision of this Release shall not in any way be construed as a waiver of any such provision, or prevent that Party thereafter from enforcing each and every other provision of this Release.
7.    Governing Law and Venue.  This Release will be governed by and construed in accordance with the laws of the United States and the Commonwealth of Massachusetts applicable to contracts made and to be performed wholly within such Commonwealth, and without regard to 

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the conflicts of laws principles that would result in the applicable of the laws of another jurisdiction.  Any suit brought hereon shall be brought in the state or federal courts sitting in Boston, Massachusetts, the Parties hereby waiving any claim or defense that such forum is not convenient or proper.  Each Party hereby agrees that any such court shall have in personam jurisdiction over it and consents to service of process in any manner authorized by Massachusetts law.
8.    Entire Agreement.  This Release, the Separation Agreement, the Confidentiality and Non-Compete Agreement, the Radius Health, Inc. 2011 Equity Incentive Plan (as Amended and Restated), any predecessor or successor plan (as applicable), the applicable stock option agreements and the Consulting Agreement between Gary Hattersley, Ph.D. and the Company (provided such Consulting Agreement is fully executed) constitute the entire agreement of the Parties in respect of the subject matter contained herein and therein and supersede all prior or simultaneous representations, discussions, negotiations and agreements, whether written or oral.  This Release may be amended or modified only with the written consent of Executive and an authorized representative of the Company.  No oral waiver, amendment or modification will be effective under any circumstances whatsoever.  
9.    Counterparts.  This Release may be executed in multiple counterparts, each of which shall be deemed to be an original but all of which together shall constitute one and the same instrument.

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IN WITNESS WHEREOF, and intending to be legally bound, the Parties have executed the foregoing Release as of the date last written below.

RADIUS HEALTH, INC.

Dated:     November 1, 2018            By: /s/ Jesper Høiland                
Name: Jesper Høiland                
Title: President and Chief Executive Officer    

EXECUTIVE

Dated:     November 1, 2018            /s/ Gary Hattersley                
Gary Hattersley, Ph.D.

A-6Exhibit

Exhibit 10.2

CONSULTING AGREEMENT

THIS CONSULTING AGREEMENT (“Agreement”) is effective as of November 1, 2018 (the “Effective Date”), and is made by and between Radius Health, Inc., together with its affiliates (“Radius”), with an address of 950 Winter Street, Waltham, MA 02451 USA and Gary Hattersley, Ph.D., with an address of  22 Brandymeade Circle, Stow, MA 01775 (“Consultant”). Radius and Consultant are collectively referred to as the “Parties.” If Consultant forms a legal entity for the purpose of Consultant personally rendering consulting services, including the Services (as defined below), then the Parties shall negotiate an amendment to this Agreement to substitute such legal entity hereunder.

WHEREAS, Radius has a legitimate business need for the Services (as defined below) that can be provided by Consultant;  

WHEREAS, Consultant has the required professional qualifications, practical experience and knowledge to provide the Services; and

WHEREAS, Consultant agrees to provide the Services to Radius, and Radius wishes to retain Consultant to perform the Services, in accordance with the terms and conditions set forth in this Agreement;

NOW, THEREFORE, in consideration of Consultant’s engagement hereunder to perform the Services described herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree to the following terms and conditions:

		
	1.
	Definitions.

1.1    “Applicable Laws” shall mean any applicable business conduct, regulatory and health and safety guidelines, laws, statutes, rules, regulations, ordinances, and professional and industry codes of conduct which are applicable to the Services, Consultant or Radius anywhere in the world, including, but not limited to, those relating to anti-corruption, anti-bribery, data protection, personal health information, clinical trials and industry conduct.

1.2    “Confidential Information” shall mean any and all scientific, technical, trade, business and any other confidential or proprietary information, whether or not marked as confidential or proprietary, provided to Consultant by Radius, its suppliers, customers, employees, officers, agents, or others in connection with the Services or any proposed Services, or indirectly learned by Consultant as a result of provision by Consultant of the Services for which this Agreement provides, or obtained by Consultant while visiting Radius’ facilities, or learned by Consultant while an employee of Radius, regardless of whether such information is in written, oral, electronic, or other form. Radius’ “Confidential Information” shall include, without limitation, the Data and personal data subject to the Applicable Laws.

1.3    “Data” shall mean any resulting data and information (including without limitation, written, printed, graphic, video, or audio material, and/or information contained in any computer database or in computer readable form) generated in the course of conducting Services.

1.4    “Inventions” shall mean improvements, developments, discoveries, inventions, know-how and other rights (whether or not protectable under state, provincial, federal, or foreign intellectual property 

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laws) which are conceived and/or reduced to practice by Consultant, alone or jointly with others as a result of, or in the performance of, the Services, or which are developed using the Confidential Information. 

1.5    “Services” shall mean (i) providing research and development consulting services to Radius, and (ii) serving as a member of Radius’ Scientific Advisory Board (“SAB”), which SAB is expected to meet at least four (4) times per year, and in such capacity advising Radius in fields of technical interest to Radius and performing such services as are customary for a member of a scientific advisory board of a biopharmaceutical company. Services may be described in a proposal or other document, which document shall be subject to the terms hereof and be attached as an exhibit (“Exhibit”) hereto. In the event of any conflict between the terms of an Exhibit and the terms of this Agreement, the terms of this Agreement shall control.

		
	2.
	Services.

2.1    Radius would like Consultant to provide the Services and Consultant wishes to provide the Services. 

2.2    Consultant will diligently provide the Services in a timely manner on behalf of and for Radius in accordance with this Agreement, the reasonable written instructions of Radius not inconsistent with any of Consultant’s obligations hereunder, and Applicable Laws.

2.3    Subject to the provisions contained in this Section and in Section 2.4, Consultant retains the right to control or direct the details, manner and means by which the Services are provided to Radius. Consultant retains the right to provide services to other individuals or companies except to the extent inconsistent with Consultant’s obligations under this Agreement and/or Consultant’s obligations under the Confidentiality and Non-Competition Agreement between Consultant and Radius dated July 8, 2004 (the “Confidentiality Agreement”).  Except as otherwise agreed with Radius, Consultant shall perform the Services only at Radius’ or Consultant's own facilities.

2.4    Consultant shall not use a subcontractor to perform the Services or otherwise subcontract Consultant’s obligations hereunder without the prior written consent of Radius.  Any permitted subcontractor shall be obligated to perform in accordance with this Agreement, and Consultant agrees to be responsible for the actions and omissions of such subcontractor as if Consultant had made such actions or omissions himself.

		
	3.
	Term.

3.1    This Agreement will commence on the Effective Date and, subject to earlier termination in accordance with this Section, shall continue until November 1, 2019 (“Term”) and shall thereafter expire. 
 
3.2    Consultant may terminate this Agreement upon 30 days written notice to Radius. Upon any termination pursuant to this Section 3.2, Consultant shall be entitled to any unpaid consulting fees for Services performed for Radius through the date of such termination. 
3.3    Radius may terminate this Agreement immediately and without prior notice if Consultant refuses to or is unable to perform the Services or is in material breach of any provision of this Agreement or Applicable Laws; provided such material breach is not cured by Consultant after ten (10) days’ prior notice; provided, further, unless such material breach, by its nature, cannot reasonably be remedied within such ten (10) day cure period.  If Radius terminates this Agreement pursuant to this Section 3.3 and Consultant 

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has performed a portion of the Services for Radius, Radius will compensate Consultant for Services completed up to the time of such termination.

3.4    Consultant may terminate this Agreement immediately and without prior notice if Radius fails to pay any amounts due to Consultant within fifteen days after sending Radius written notice of late payment due.
3.5    Upon termination of this Agreement by Radius, Consultant shall immediately cease provision of Services and return to Radius all Radius Confidential Information.

		
	4.
	Confidentiality; Publication; Data Privacy.

4.1    Consultant agrees to treat any Confidential Information as the exclusive property of Radius, and Consultant agrees not to disclose any of the Confidential Information to any third party without first obtaining the written consent of Radius.  Consultant agrees to protect the Confidential Information that was received with at least the same degree of care Consultant uses to protect Consultant’s own confidential information.  

4.2    Consultant agrees to use any Confidential Information only for the purpose of conducting Services hereunder and for no other purpose.  The above provisions of confidentiality shall not apply to that part of Confidential Information which Consultant is able to demonstrate by documentary evidence: (i) was lawfully in Consultant’s possession prior to receipt from Radius without an obligation of confidentiality; (ii) was in the public domain at the time of receipt from Radius; (iii) becomes part of the public domain other than due to Consultant’s fault; or (iv) is lawfully received by Consultant from a third party without an obligation of confidentiality.  Notwithstanding the foregoing, Consultant may disclose that part of Confidential Information that is required by an order of a court of competent jurisdiction or any regulatory authority to be disclosed, provided that Consultant gives Radius prompt and reasonable notification of such requirement prior to such disclosure and takes all reasonable and lawful actions to obtain confidential treatment for such disclosure and to minimize the extent of such disclosure.  Upon request by Radius, any and all Confidential Information received by Consultant hereunder shall be destroyed or returned promptly to Radius.

4.3    Consultant shall not publish any articles or make any presentations or communications (including any written, oral, or electronic manuscript, abstract, presentation, or other publication) relating to the Services, the Confidential Information, Inventions or Data, in whole or in part, without the prior written consent of Radius. Consultant shall not engage in interviews or other contacts with the media, including but not limited to newspapers, radio, television and the Internet, related to this Agreement without Radius’ prior related written consent.

4.4    This Section 4 shall survive the termination or expiration of this Agreement.

		
	5.
	Intellectual Property.

5.1      Consultant shall promptly and fully disclose in writing to Radius any and all Inventions.

5.2      Consultant agrees that, as between Consultant and Radius, Radius owns all rights, title and interest in any Data or Invention, including any intellectual property (including, but not limited to, patent, trademark, copyright and trade secret) rights therein. Consultant hereby assigns to Radius all of Consultant’s rights to and interest in any Data or Invention. To the extent that any of Radius’ ownership rights contemplated 

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under this section are not perfected, fail to arise, revert or terminate by operation of law, then in lieu of such ownership rights, Consultant shall automatically grant to Radius an exclusive, perpetual, irrevocable, fully paid up, royalty-free, transferable, sublicensable (through multiple layers of sublicensees) license to all rights, title and interest in the Data or Inventions for which such ownership rights failed to arise, reverted or terminated by operation of law. Consultant shall take all actions necessary in order to perfect, maintain, and/or enforce (to “Protect”) Radius’ rights in the Data and Inventions, including without limitation, executing and delivering all requested applications, assignments and other documents. Consultant hereby permits Radius to execute and deliver any such documents on Consultant’s behalf in the event Consultant fails to do so and accepts Radius as Consultant’s agent for the limited purpose of Protecting Radius’ ownership and/or exclusive rights.

5.3      During and after the Term of this Agreement, Consultant agrees to assist Radius, at Radius’ request and at reasonable times and places, in preparing and prosecuting patent applications and patent extensions or in obtaining or maintaining other forms of intellectual property rights protection for Inventions which Radius elects to protect. Radius shall reimburse Consultant for any reasonable costs incurred in providing such assistance.

5.4  Without Radius’ prior written consent, Consultant shall not engage in any activities, on its own or in collaboration with a third party, or use any third party facilities or third party intellectual property in performing the Services which could result in claims of ownership to any Inventions being made by such third party.

5.5      This Section 5 shall survive the termination or expiration of this Agreement.

		
	6.
	Insider Trading.

Consultant acknowledges that in connection with this Agreement Consultant may have advance access to information that may be considered “material nonpublic information” under the United States securities laws and the equivalent laws of the country in which Consultant is established. Consultant agrees to treat such information as Confidential Information and acknowledges and agrees to be bound by the terms and conditions of Radius’ Insider Trading Policy and all related Applicable Laws.  Accordingly, Consultant shall be subject to any and all restrictions on trading set forth therein. 

		
	7.
	Representations.

7.1    Mutual Representations. Radius and Consultant each represent, warrant and/or covenant to the other that:

		
	(a)
	Radius enters into this Agreement with Consultant in order to meet a legitimate and genuine business need for the Services and that the selection of Consultant is based exclusively on Consultant’s qualifications, expertise, experience, knowledge and ability to meet this legitimate and genuine business need;

		
	(b)
	entry into this Agreement, its performance and the payment for the Services, are in no way contingent, conditional or depending on any other previous, current, or potential future business that is or may be generated by Consultant; and

    

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	(c)
	entry into this Agreement, its performance and payment for the Services, are in no way contingent, conditional or dependent on any other previous, current, or potential future agreements between the Parties.

7.2    Absence of Restrictions. Consultant represents, warrants and/or covenants that:

		
	(a)
	Consultant has not (i) been excluded, debarred, suspended or otherwise made ineligible to exercise its or his or her profession under Applicable Laws; or (ii) engaged in any act that would be grounds for such exclusion, debarment or suspension; Upon learning or acquiring knowledge of any facts or circumstances that may lead to actions relating to the representations above, Consultant will immediately disclose such facts or circumstances to Radius; and

		
	(b)
	Consultant is authorized to enter into this Agreement and that Consultant is not a party to any other agreement or under any obligation to any third party which would prevent Consultant from entering into this Agreement or from performing Consultant’s obligations hereunder and shall inform Radius immediately if such authorizations or permissions, including under future employment contract provisions for Consultant, are rescinded at a later date, and in such event, Radius shall have the option to terminate this Agreement immediately, pursuant to Section 3.3.

7.3    Compliance. Consultant further represents, warrants and/or covenants that the amounts payable hereunder shall constitute the fair market value for the Services to be provided hereunder.

		
	8.
	Ethical Business Practices.

8.1.    Consultant agrees to conduct the Services contemplated herein in a manner which is consistent with both Applicable Laws, including anti-bribery laws, and good business ethics. In performing the Services for Radius, Consultant (i) shall not offer to make, make, promise, authorize or accept any payment or giving anything of value, including but not limited to bribes, either directly or indirectly to any public official, regulatory authority or anyone else for the purpose of influencing, inducing or rewarding any act, omission or decision in order to secure an improper advantage, or obtain or retain business and (ii) shall comply with all applicable anti-corruption and anti-bribery laws and regulations.   Consultant shall not make any payment or provide any gift to a third party in connection with Consultant’s performance of this Agreement except as may be expressly permitted in this Agreement without first identifying the intended third-party recipient to Radius and obtaining Radius’ prior written approval.  Consultant shall notify Radius immediately upon becoming aware of any breach of Consultant’s obligations under this Section.
8.2.     Consultant shall promptly notify Radius in the event of any government investigation or inquiry related to compliance with Applicable Laws and shall allow Radius to participate in the event it relates to the Services hereunder. 
8.3    In the event that Radius has reason to believe that a breach of this Section 8 has occurred or may occur, Radius is entitled to conduct an audit and Consultant shall fully cooperate in connection with any such audit. Consultant expressly understands and agrees that any breach of this Section 8 is considered a material breach of this Agreement entitling Radius to terminate this Agreement with immediate effect hereof pursuant to Section 3.3.
		
	9.
	DISCLAIMER.

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EXCEPT FOR BREACHES OF CONFIDENTIALITY OR INTELLECTUAL PROPERTY, IN NO EVENT SHALL THE AGGREGATE LIABILITY OF EITHER PARTY TO THE OTHER HEREUNDER EXCEED A TOTAL OF $1,000,000 (USD) OR EITHER PARTY BE LIABLE FOR SPECIAL, INCIDENTAL, INDIRECT OR CONSEQUENTIAL DAMAGES OF THE OTHER PARTY ARISING UNDER THIS AGREEMENT EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

		
	10.
	Independent Contractor Status.  

10.1    This Agreement establishes between the Parties an independent contractor relationship.  This relationship is completely independent of any other relationship that exists or may exist in the future between the Parties.

10.2    This Agreement does not create any employer-employee, agency or partnership relationship between the Parties. Except as provided in that certain Separation Agreement between Consultant and Radius dated September 19, 2018 (the “Separation Agreement”) with respect to COBRA continuation coverage and with respect to continued vesting of Radius stock option awards pursuant to Section 11.6 of this Agreement, Consultant shall not be entitled to or eligible to participate in Radius’ insurance plans and other compensation or benefit plans Radius maintains for its own employees. Consultant retains full and sole responsibility for complying with income reporting and other requirements imposed by Applicable Laws. Radius will not provide workers’ compensation insurance coverage to Consultant for work-related accidents, illnesses, damages or injuries arising out of or in connection with the Services.  Further, Consultant understands and agrees that the consulting relationship with Radius is not covered under unemployment compensation laws.
 
		
	11.
	Compensation; Continued Vesting of Equity

11.1    During the first six (6) months of the Term, Consultant shall receive a monthly retainer of $18,000 (USD) to provide Services for up to no more than 60 hours per month, and during the following six (6) months shall provide Services, on an as-requested basis, at a rate of $300 (USD) per hour, for up to no more than 60 hours per month (collectively, the “Consulting Fees”).    

11.2    Radius shall pay Consultant an aggregate fee of $40,000 (USD) (the “SAB Fee”, and collectively, the SAB Fee and the Consulting Fees are hereinafter referred to as the “Budget”) to serve as a member of the SAB during the Term.  The SAB Fee shall be payable in quarterly installments of $10,000.  Any amount in excess of the Budget requires the prior written approval of Radius.

11.3    Radius will reimburse out-of-pocket travel and other reasonable expenses that have been preapproved by Radius, in writing, and incurred in connection with the Services rendered hereunder, and are supported by original evidence or receipts.  Reimbursement of pre-approved expenses shall be made by Radius within thirty (30) days of receipt of an itemized statement with receipts or other evidence of reimbursable expenses.

11.4    A purchase order (“PO”) may be generated for this work.  If a PO is generated, all invoices should include the Radius PO number and a detailed description of the Services effectively and actually provided by the Consultant to ensure prompt payment.  Invoices will be delivered to Radius monthly for Services provided in the preceding month or quarter, as applicable.  Radius will pay invoices within thirty (30) days of their receipt.

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11.5    Prior to any payment, Radius must have a W-9 on file for the payee. W-9s must be sent to invoices@radiuspharm.com. Invoices should be sent to Radius via email (word or .pdf format acceptable): invoices@radiuspharm.com. If email invoicing is not possible, invoices may be sent via mail to Radius Health, Inc., 950 Winter Street, Waltham, MA 02451, Attention:  Accounts Payable.  Checks shall be made payable to:  Gary Hattersley.  Checks shall be mailed to: Gary Hattersley, 22 Brandymeade Circle, Stow, MA 01775.

11.6    During the Term, the stock options that Consultant holds to purchase shares of Radius common stock will continue to vest, as described in the Separation Agreement and subject to the Radius Health, Inc. 2011 Equity Incentive Plan (as Amended and Restated), and, if applicable, any predecessor or successor plan, and the applicable stock option agreements (such equity documents, the “Equity Documents”).  

		
	12.
	Miscellaneous Matters.

12.1    Any notices to be given hereunder shall be in writing and shall be delivered to the address below: (a) in person; (b) first class registered or certified mail, postage prepaid, (c) next day express delivery service; or (d) by fax or email, with originals to follow immediately thereafter by methods (a), (b) or (c). Notice shall be effective upon delivery or, in the case of (d), upon confirmation of delivery of the fax or email.

If to Radius:
Radius Health, Inc.
950 Winter Street
Waltham, MA 02451
United States of America
Attention: Chief Executive Officer
Fax: 781.561.0620
With a copy to: General Counsel
Email: contractnotice@Radius.com

If to Consultant:
Gary Hattersley, Ph.D.
22 Brandymeade Circle
Stow, MA 01775
Email: ghattersley@mac.com 

12.2    This Agreement, together with any Exhibit(s), the Separation Agreement, the General Release of Claims between Consultant and Radius presented to Consultant on September 19, 2018, the Confidentiality Agreement and the Equity Documents constitute the entire agreement of the Parties with regard to its subject matter and supersedes all previous written or oral representations, agreement(s), and understandings between the Parties hereto with respect to the subject matter hereof.  This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but collectively shall constitute one and the same instrument.  Counterparts may be signed and delivered by facsimile or electronic transmission (including by e-mail delivery of .pdf signed copies), each of which will be binding when sent.  This Agreement shall be binding upon and inure to the benefit of the Company’s successors and assigns. Without limiting the foregoing, the Company may assign its rights and obligations hereunder in whole or in part to any of its affiliates or to any transferee of all or a portion of the assets or business of the Company. Consultant may not assign any of Consultant’s rights or obligations hereunder. This Agreement shall be 

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construed and enforced in accordance with the laws of the Commonwealth of Massachusetts without regard to any choice of law principle that would dictate the application of the law of another jurisdiction.

[REMAINDER OF PAGE INTENTIONALLY BLANK]

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IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed by their duly authorised representatives.

RADIUS HEALTH, INC.                     CONSULTANT
	
					
	By:
	/s/ Jesper Høiland
	 
	By:
	/s/ Gary Hattersley

	Name:
	Jesper Høiland
	 
	Name:
	Gary Hattersley, Ph.D.

	Title:
	President and CEO
	 
	Date:
	September 19, 2018

	Date:
	September 19, 2018
	 
	 
	 

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