Document:

EX-10.4

 Exhibit 10.4 

Amy J. Baker 
 Director, Human Resources 

August 15, 2013 

Mr. Peter P. Pfreundschuh 
 Dear Peter, 

On behalf of Immunomedics, Inc., I am pleased to offer and acknowledge your acceptance of employment, based upon the terms and conditions set forth
below, in the position of Vice President, Finance and Chief Financial Officer, reporting to Cynthia L. Sullivan, President and Chief Executive Officer. Your employment is scheduled to commence on Tuesday, September 3, 2013. 

This position is within salary grade 18, and your base salary will be $11,875.00 per semi-monthly pay period equivalent to $285,000.00 (less applicable
deductions and withholdings), on an annualized basis. Additionally, you will be entitled to accrue up to four (4) weeks of paid vacation per calendar year. Generally, performance reviews are conducted annually on July 1st for all employees
with six months of service and salary adjustments are based on individual merit. In addition, mutually agreed upon goals and objectives, which may have been established between you and supervisor, will be reviewed at that time. Your position is
exempt, and you will not be eligible for overtime. 
 The Company offers a Comprehensive Health Care Plan and a 401(k) Savings Plan to its employees. The
401(k) open enrollment dates are January 1st, April 1st, July 1st
and October 1st of each year. The Company matches a portion of the employee’s annual contribution and in past years it has been 25% of the first 5% of the employee’s annual salary
contributed. If you elect to participate in our health/dental insurance plans, your coverage will be effective the 1st of the month following your date of hire. Please arrange to keep your current
coverage in force through this period. Information regarding these programs and other Company benefits along with guidelines about employment are contained in Immunomedics’ orientation package, which is issued at the time employment begins.

 P. Pfreundschuh 

August 15, 2013 
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 A stock option package of 75,000
shares of Immunomedics’ common stock under the Company’s 2006 Stock Incentive Plan will be presented to the Compensation Committee of the Board of Directors for approval and, subject to this approval, the exercise price will be based on
the last sale price of the Company’s common stock, as per the NASDAQ system, on your date of hire or the meeting of the Compensation Committee, whichever is later. Twenty-five percent (25%) of said shares vest each year over a four (4) year
period. Thereafter, you will be eligible to receive additional stock options under the Stock Incentive Plan, on an annual basis, based upon your performance and the performance of the company, as determined solely by the Board of Directors. 

This offer is contingent upon the following: 
  

	 	1.	Verification of prior employment, which must be substantiated by professional references that are generally positive in regard to content and character. 

 

	 	2.	Verification of your highest level of education. This must be accomplished by having an official copy of your transcripts mailed directly to our Human Resources Department. 

 

	 	3.	Your agreement to execute Immunomedics’ non-disclosure and proprietary information agreements; to assign all rights, title and use of all discoveries, inventions, patents and copyrights to Immunomedics, Inc.; to
execute Immunomedics’ agreement not to compete or to solicit employees and customers. In this regard, be aware that company policy prohibits all employees from bringing to the Company, or using in performance of their responsibilities at the
Company, any confidential information, trade secrets, or propriety material or processes of any previous employer. 

  

	 	4.	Your acknowledgment of review and understanding of the Employee Handbook of Immunomedics, Inc. 

 P. Pfreundschuh 

August 15, 2013 
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	 	5.	Employment eligibility verification and proper I-9 documentation. In compliance with federal law, Immunomedics, Inc. must verify the status of every individual offered employment with the Company to ensure that they are
authorized to be lawfully employed in the United States. As required by law, it will be necessary for you to submit verification of your identity and employment authorization as a condition to employment with Immunomedics, Inc. 

 

	 	6.	Satisfactory completion of all other aspects of the pre-employment process. 

 You will be scheduled to attend a
New Employee Orientation session with Susan Finan on Tuesday, September 3, 2013 at 9:00 AM. I have included a list of items which you will need to bring with you that day. 

By accepting this employment offer, you hereby represent that your employment by Immunomedics, Inc. does not violate the terms of any employment or other
agreement to which you are or have previously been a party. 
 Any disputes arising under this agreement are to be resolved, at the discretion of the
Company, by arbitration in accordance with New Jersey law. The determination rendered shall be final and binding on all parties and judgment may be entered on the arbitrators award in any court having jurisdiction. Further, by accepting employment,
you agree that resolution of any employment disputes shall be governed by and construed in accordance with the laws of New Jersey without regard to principles of conflicts of law and/or international comity. 

Further, as set forth in Immunomedics’ employment application and its handbook, your employment relations with Immunomedics is on an “at-will”
basis. This means that your employment can be terminated at any time by Immunomedics or by you, without cause or notice and without liability for lost wages. Also, this letter does not constitute a contract of employment or a guarantee of employment
for any specific term. 

 P. Pfreundschuh 

August 15, 2013 
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 Kindly indicate your acceptance
of our offer of employment under the terms and conditions outlined in this letter by signing and dating the bottom of this letter and the enclosed duplicate. Please return a signed original to my attention and retain the other copy for your files.

 If you have any questions or need additional information, please feel free to call me. We truly look forward to welcoming you to Immunomedics. 

Sincerely, 
  

Amy J. Baker 
 Director, Human Resources 

Enclosures 
  

							
	ACCEPTED:	 		 		 	
				
	 /s/ Peter P. Pfreundschuh
	 		 		 	 8/17/2013

	Peter P. Pfreundschuh	 		 		 	 DateEX-10.1

 EXHIBIT 10.1 

Personal & Confidential 
 October 17, 2013

 David Dickson 
 Dear David: 

We are pleased to confirm our offer for you to join McDermott International, Inc. (“McDermott”). The details of our offer, which when accepted by
you, will become our agreement (this “Agreement”), are: 
 1. Date of Commencement of Services and Position 

Your employment will begin on October 31, 2013. 

Your position initially will be Executive Vice President and Chief Operating Officer of McDermott. Effective on or before December 16,
2013 you will become President and Chief Executive Officer of McDermott. In addition, on the date you become President and Chief Executive Officer, you will be elected as a member of McDermott’s Board of Directors by the Board of Directors
(with annual reelection subject to the regular nomination and shareholder vote process). 
 2. Compensation and Benefits 

a. Salary 
 Your annual salary initially
will be $850,000.00, payable on a semi-monthly basis. Your salary will be prorated for 2013 and will be subject to future adjustments as may be determined by the Compensation Committee of McDermott’s
Board of Directors (the “Compensation Committee”). 
 b. Annual Bonus 

For 2014 and later years, you will be eligible, pursuant to McDermott’s Executive Incentive Compensation Plan (the “EICP”), for a target bonus
equal to your base salary, which for 2014 will be $850,000.00. Currently, the EICP provides for a range of payout of 25% to 200% of target bonus, depending on performance results. 

c. Signing Bonus 
 You will be paid on
December 16, 2013 a signing bonus of $480,000.00. 
 d. Annual Long Term Incentive Compensation 

You will be eligible to participate in annual long-term incentive awards, commencing in 2014. Your target annual award
opportunity for 2014 will be between $3,500,000.00 and $4,000,000.00 as determined by the Compensation Committee, and for 2015 and later years is 

 
expected to be at least $4,000,000.00. Each annual award could be in one or more awards of performance cash, restricted stock, performance restricted stock, stock options, restricted stock units
or performance stock units, as selected by the Compensation Committee. Subject to the approval of the Compensation Committee, your long-term incentive awards will have terms and conditions consistent with
those provided to other senior McDermott executives. Your participation in McDermott’s long-term incentive plan will be subject to the terms of the plan and related award agreements. 

While there is every reasonable expectation that you would continue to participate in the plan in the future at a level at least as favorable as your initial
participation, your continued participation and the level of participation will be determined annually by the Compensation Committee and the plan is subject to amendment, termination or change. 

e. Retention Restricted Stock 
 You will
receive a one-time retention award in the form of a grant of restricted stock with a grant date face value of $3,800,000.00, determined by reference to the closing price of McDermott common stock on the date
of your commencement of employment with McDermott. A portion of the award with a face value at grant of $1,500,000.00 will vest on June 15, 2014 subject to your continued employment with McDermott. The remaining portion of the award with a face
value at grant of $2,300,000.00 will vest in three tranches of $766,666.67 on June 15, 2015, of $766,666.67 on June 15, 2016 and of $766,666.66 on June 15, 2017, subject to your continued employment with McDermott. 

f. Perquisites 
 You will participate in
McDermott’s perquisite plan for senior executives at $20,000 per year, commencing in 2014. 
 g. Change in Control Agreement 

You will be offered a Change in Control Agreement substantially in the form of the Change in Control Agreement between McDermott and its current Chief
Executive Officer, except that the salary and bonus severance multiplier will be 2.5. 
 h. SERP 

You will be eligible to participate in the McDermott Supplemental Executive Retirement Plan, subject to the terms and conditions thereof. 

i. Vacation 
 You will be entitled to four
weeks of annual vacation. Your vacation will be prorated for 2013. 
 j. Benefits 

You will be eligible to participate in McDermott’s health and welfare benefits plans and 401(k) plan generally applicable to senior executives in
accordance with the terms of those programs. 

  
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 3. Stock Ownership Policy 

You will be subject to McDermott’s policy that requires its senior executives to own McDermott common stock. 

4. Code of Ethics and Business Conduct 
 You will be
subject to and expected to comply with McDermott’s Code of Ethics for Chief Executive Officer and Senior Financial Officers and McDermott’s Code of Business Conduct. 

5. Indemnification 
 As an employee and director, you will
be eligible for indemnification pursuant to McDermott’s Amended and Restated By-Laws. 
 6. Additional Terms

 You acknowledge that you are not bound by or otherwise subject to any contractual or other restrictions that would prevent you from joining McDermott
and providing services to McDermott as an executive officer and director as contemplated under this Agreement. You also will not bring to your McDermott employment or use in connection with your employment any confidential or proprietary information
that you used or had access to by reason of any previous employment that is the property of any previous employer, including, but not limited to, passwords, e-mails, business plans, documents, and the like.
During our discussions about your proposed employment, you assured us that you would be able to perform your job duties within the guidelines just described. 

You will be required to comply with McDermott’s policy on Employee Physicals, Alcohol and Drug Screens. 

McDermott will pay or reimburse you for your reasonable out-of-pocket legal fees and expenses incurred in connection with entering into this Agreement,
provided that McDermott’s obligation to do so shall not exceed $15,000.00. 
 Notwithstanding any other term or condition in this Agreement, nothing
herein is intended to create a contract for a specified term, and you understand and agree that the relationship between you and McDermott is one of at-will employment. This means that you may terminate your
employment with McDermott at any time and for any reason whatsoever simply by notifying the Chairman of the Board of Directors of McDermott. Likewise, McDermott may terminate your employment at any time and for any reason whatsoever, with or without
cause or advance notice. 
 All payments under this Agreement will be subject to any applicable payroll and tax deductions. All general personnel
policies existing for employees of McDermott will apply to you, and you are expected to apply strictest confidentiality to all business matters. 
 Texas
law governs this Agreement and the terms of your employment by McDermott. Disputes about this Agreement and your employment will be subject to arbitration under the AAA Commercial Arbitration rules and will be held in Houston, Texas. Any claim or
action brought as a result of a breach of this Agreement must be made within one year of such breach. 

  
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 You agree that, other than in this Agreement, McDermott has not made any representations, promises, or
commitments concerning your proposed employment. This Agreement constitutes the entire agreement between you and McDermott, including any of its directors, officers, agents or employees, and supersedes all other representations, warranties,
agreements, and understandings, oral or otherwise, with respect to the matters contained in this Agreement. You confirm that you have consulted with your counsel in connection with your decision to enter into this Agreement. 

7. Severability 
 In the event that any term or provision
of this Agreement shall be finally determined to be superseded, invalid, illegal, or otherwise unenforceable pursuant to applicable law, that determination shall not impair or otherwise affect the validity, legality, or enforceability, to the
maximum extent permissible by applicable law, of any of the other terms and provisions of this Agreement. 
  

					
	Sincerely,
	
	McDermott International, Inc.
		
	 By:
	 	/s/ Stephen M. Johnson
		 	Name:	 	Stephen M. Johnson
		 	Title:	 	Chairman, President and Chief Executive Officer

 Employment Offer Accepted: 
  

					
	 /s/ D. Dickson
	  		 	 17th Oct 2013

	 David Dickson
	  		 	Date

  
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