Document:

EX-10.2

 Exhibit 10.2 
 EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT AGREEMENT (the
“Agreement”), effective as of the 28th day of May 2013, is entered into by Achillion Pharmaceuticals, Inc., a Delaware corporation with its principal place of business at 300 George Street, New Haven, CT 06511-6624 (the
“Company”), and Milind S. Deshpande, Ph.D. (the “Executive”). 
 WHEREAS, the Company desires to continue to
engage the services of the Executive and the Executive desires to continue to be employed by the Company. 
 NOW, THEREFORE, in
consideration of the employment or continued employment of the Executive, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and the Executive agree as follows: 

1. Term of Employment. The Company hereby agrees to continue to employ the Executive, and the Executive hereby accepts continued
employment with the Company, upon the terms set forth in this Agreement, for the period commencing on the date hereof (the “Commencement Date”) and ending on December 31, 2014 (such period, as it may be extended, the “Employment
Period”), unless sooner terminated in accordance with the provisions of Section 4. This Agreement shall automatically renew, at the end of the initial and any renewal term, for successive one-year periods unless, at least six
(6) months prior to the expiration of the applicable Employment Period, either party has notified the other party that the Agreement shall not so renew. 
 2. Title; Capacity. The Executive shall serve as Chief Executive Officer. The Executive shall be based at the Company’s headquarters in New Haven, Connecticut on the Commencement Date. The
Executive shall be subject to the supervision of, and shall have such authority as is delegated to the Executive by, the Board of Directors (the “Board”) commensurate with his position of Chief Executive Officer. The Executive will be
appointed to fill the next vacancy in the Board until such time as he would be put forward for election. 
 The Executive hereby
accepts such continued employment and agrees to undertake the duties and responsibilities inherent in such position and such other duties and responsibilities as the Board shall from time to time reasonably assign to the Executive, commensurate with
his position as Chief Executive Officer. The Executive agrees to devote his entire business time, attention and energies to the business and interests of the Company during the Employment Period, unless otherwise approved by the Board in its
reasonable discretion. The Executive agrees to abide by the rules, regulations, instructions, personnel practices and policies of the Company and any changes therein which may be adopted from time to time by the Company. The Executive will be
eligible to participate in the Company’s performance review process. 
 3. Compensation and Benefits. 

3.1 Salary. The Company shall pay the Executive, in periodic installments in accordance with the Company’s customary payroll
practices, a monthly salary of $39,166.67 (annualizing to $470,000) commencing on the Commencement Date. Such salary shall be subject to increase thereafter as determined by the Board. 

 3.2 Bonus. The Executive shall be eligible to receive additional compensation each
year at a target rate of sixty percent (60%) of base salary based upon the Company’s performance and the Executive’s individual performance, as determined by the Board. 

3.3 Fringe Benefits. The Executive shall be entitled to participate in all benefit programs that the Company establishes and makes
available to its executives, if any, to the extent that Executive’s position, tenure, salary, age, health and other qualifications make him eligible to participate. The Executive shall be entitled to paid time off (or “PTO,” including
vacation, sick and personal time) in accordance with the Company’s policy. The Company will continue to cover the Executive under a long term disability policy with benefits comparable to those currently in effect unless it makes a general
change to the coverage of its senior executives and a comparable change to the Executive’s coverage. 
 3.4
Reimbursement of Expenses. The Company shall reimburse the Executive for all reasonable travel, entertainment and other expenses incurred or paid by the Executive in connection with, or related to, the performance of his duties,
responsibilities or services under this Agreement, in accordance with policies and procedures, and subject to limitations, adopted by the Company from time to time. 
 3.5 Withholding. All salary, bonus and other compensation payable to the Executive shall be subject to applicable withholding taxes. 

4. Termination of Employment Period. The employment of the Executive by the Company pursuant to this Agreement shall terminate
upon the occurrence of any of the following: 
 4.1 Expiration of the Employment Period; 

4.2 At the election of the Company, for Cause (as defined below), immediately upon written notice by the Company to the Executive, which
notice shall identify the Cause upon which the termination is based; 
 4.3 At the election of the Executive, for Good Reason
(as defined below); 
 4.4 Upon the death or Disability (as defined below) of the Executive; 

4.5 At the election of the Company, upon not less than fifteen (15) days’ prior written notice of termination; or 

4.6 At the election of the Executive, upon not less than fifteen (15) days’ prior written notice of termination. 

  
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 5. Termination Payments. If the Executive’s employment with the Company is
terminated under the circumstances described below, the Executive shall be entitled to payment of the Accrued Obligations and the following benefits, provided that the Executive Release (as defined in Section 7) becomes effective: 

5.1 Termination Without Cause or for Good Reason After a Change in Control. If the Executive’s employment with the Company is
terminated by the Company (other than for Cause, Disability or death) or by the Executive for Good Reason within twelve (12) months following the Change in Control Date, then the Executive shall be entitled to the following benefits, commencing
or paid in accordance with the terms set forth in Section 7: 
 (a) the Company shall pay to Executive his salary as in
effect on the date of termination (the “Date of Termination”) in accordance with the Company’s customary payroll practices, until the date that is eighteen (18) months after the Date of Termination; 

(b) if Executive is eligible for and elects to continue receiving group medical and/or dental insurance under the
continuation coverage rules known as COBRA, the Company will continue to pay the share of the premium for such coverage that it pays for active and similarly-situated employees who receive the same type of coverage (single, family, or other) until
the earlier of (i) the end of the eighteenth
(18th) month after his employment ends or
(ii) the date the covered individual’s COBRA continuation coverage expires, unless, as a result of a change in legal requirements, the Company’s providing payments for COBRA will violate the nondiscrimination requirements of
applicable law, in which case this benefit will not apply; and 
 (c) payment equal to the annual target bonus payment, if any,
paid (or earned, if not yet paid) to the Executive for the current fiscal year through the Date of Termination. 
 5.2
Termination Without Cause or for Good Reason prior to a Change in Control. If the Executive’s employment with the Company is terminated by the Company (other than for Cause, Disability or death) or by the Executive for Good Reason prior
to a Change in Control, then the Executive shall be entitled to the following benefits, commencing or paid in accordance with the terms set forth in Section 7: 
 (a) the Company shall pay to the Executive his salary as in effect on the Date of Termination in accordance with the Company’s customary payroll practices, until the earlier of (1) the date that
is eighteen (18) months after the Date of Termination or (2) the date upon which the Executive commences full-time employment with another Company, provided that in no case shall the severance period be less than twelve (12) months;

 (b) if the Executive is eligible for and elects to continue receiving group medical and/or dental
insurance under the continuation coverage rules known as COBRA, the Company will continue to pay the share of the premium for such coverage that it pays for active and similarly-situated employees who receive the same type of coverage (single,
family, or other) until the earlier of (i) the end of the eighteenth (18th) month after his employment ends or (ii) the date the covered individual’s COBRA continuation coverage expires, unless, as a result of a change in legal requirements, the Company’s
providing payments for COBRA will violate the nondiscrimination requirements of applicable law, in which case this benefit will not apply; and 
 (c) payment equal to the pro rata portion of the bonus payment, if any, paid (or earned, if not yet paid) to the Executive for the most recent fiscal year ended prior to the Date

  
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of Termination, with such pro rata amount equal to the product of the amount of such prior bonus payment multiplied by a fraction, (1) the numerator of which is the number of days in the
current fiscal year prior to the Date of Termination and (2) the denominator of which is 365. 
 5.3 Termination for
Cause or Without Good Reason. If, at any time, the Company terminates the Executive’s employment with the Company for Cause or the Executive terminates his employment without Good Reason, then the Company shall pay the Executive, in a lump
sum in cash within thirty (30) days after the Date of Termination, the Executive’s earned and unpaid salary through the Date of Termination. 
 5.4 Termination as a Result of Death. If this Agreement is terminated because of the Executive’s death, the Executive’s estate will be entitled to receive the Executive’s salary
through the end of the calendar month in which his death occurs and for twelve (12) consecutive calendar months thereafter, which amount shall be payable in a lump sum within sixty (60) days from the date of the Executive’s death.

 5.5 Termination as a Result of Nonrenewal. If the Executive’s employment ends because of a notice of nonrenewal
by the Company (other than as a result of Cause) and the Executive is otherwise willing and able to continue his employment under the terms of this Agreement but for such nonrenewal, his cessation of employment will be treated as a termination
without Cause for purposes of Section 5.1 above and subject to the timing and release conditions it specifies. A nonrenewal on other grounds, including one initiated by the Executive (other than in compliance with the rules for Good Reason
resignation), will be treated as covered instead by Section 5.3. 
 5.6 409A Transition Rule. If the
Executive’s employment ends under circumstances that entitle him to severance if his employment agreement dated as of March 9, 2010 (the “Prior Agreement”) were still in effect but not under the terms of this Agreement, the
Executive will receive severance as described in Section 5.2 but capped at six (6) months (or twelve (12) months under Section 5.1), provided that, assuming he remains a Specified Employee at the Date of Termination, such amounts
(including the applicable bonus component) will not be paid until after the six (6)-month delay described in Section 9.2(c) hereof. If the Executive’s employment ends under circumstances that entitle him to severance under either the terms
of the Prior Agreement (if it were still in effect) or this Agreement, and assuming he remains a Specified Employee at the Date of Termination, the payments will not be capped at six (6) and twelve (12) months, but six (6) months of
the payments, with the applicable bonus component, will be delayed until after the six (6)-month delay (but the remaining payments will be paid or begin in accordance with Section 7 below). If the Executive’s employment ends under
circumstances that entitle him to severance solely under the terms of this Agreement, the payments will not be capped at six (6) and twelve (12) months and will not be delayed six (6) months unless the Company concludes that
Section 409A requires otherwise. The purpose of these provisions is to leave in place the timing rules from the Prior Agreement, the Executive’s Supplemental Severance Agreement (the “Supplemental Agreement”), and the
Executive’s Supplemental Terms of Compensation (the “Supplemental Terms”), and to continue to treat the severance due under the Prior Agreement as subject to Section 409A and the severance due under the Supplemental Agreement as
exempt from Section 409A, even though both provisions are stated in this Agreement. 

  
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 6. Stock Acceleration Benefits to Executive. 

6.1 Automatic Stock Acceleration in Connection with Change in Control. If the Change in Control Date occurs during the Employment
Period, then, effective upon the Change in Control Date, (a) the vesting schedule of each outstanding option to purchase shares of Common Stock of the Company held by the Executive shall be accelerated in part so that the option shall become
exercisable for an additional number of shares equal to twenty five percent (25%) of the original number of shares of Common Stock subject to the option immediately prior to such Change in Control; the remaining unvested shares shall continue
to become vested in accordance with the original vesting schedule set forth in the applicable option agreement; and (b) unvested shares, or units, if any, with respect to each restricted stock award held by the Executive immediately following
the Change in Control shall be vested such that the number of unvested shares or units shall be reduced by twenty five percent (25%) of the original number of shares or units subject to such restricted stock award; the remaining unvested shares
or units shall continue to vest in accordance with the original schedule set forth in the applicable restricted stock agreement; provided that the vesting will not accelerate the distribution of shares underlying equity awards if such acceleration
would trigger taxation under Section 409A(a)(1)(B) of the Internal Revenue Code of 1986 and the guidance issued thereunder (“Section 409A” of the “Code”). 

6.2 Stock Acceleration in Connection with Termination Without Cause or For Good Reason Following a Change in Control. If, within
twelve (12) months following a Change in Control Date, the Executive’s employment with the Company is terminated by the Company (other than for Cause, Disability or death) or by the Executive for Good Reason, then (a) each outstanding
option to purchase shares of Common Stock of the Company held by the Executive shall become immediately exercisable in full; and (b) each restricted stock award held by the Executive shall be deemed to be fully vested, and, to the extent
applicable, will no longer be subject to a right of repurchase by the Company; provided that the vesting will not accelerate the distribution of shares underlying equity awards if such acceleration would trigger taxation under Section 409A of
the Code. 
 6.3 Stock Acceleration in Connection with Termination Without Cause or For Good Reason Absent a Change in
Control. If the Executive’s employment with the Company is terminated by the Company (other than for Cause, Disability or death) or by the Executive for Good Reason absent a Change in Control, then the provisions of Section 6.1 above
shall apply as though the date of termination were a Change in Control Date. 
 7. Release. The obligation of the Company
to make the payments and provide the benefits to the Executive under Sections 5.1 and 5.2 is conditioned upon the Executive signing a release of claims, in a customary and reasonable form provided by the Company (the “Executive Release”),
and upon the Executive Release becoming effective in accordance with its terms, within sixty (60) days (or such shorter period as the Company provided (but not less than thirty (30) days)) following the Date of Termination. The Company
shall commence the payments and 

  
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benefits under Sections 5.1 and 5.2 on the first payroll period following the date the Executive Release becomes effective; provided, however, that if the sixtieth (60th) day following the Date of Termination falls in the
calendar year following the year of the Executive’s termination of employment, the payment will be made no earlier than the first payroll period of such later calendar year; and provided further that the payment of any amounts pursuant to
Sections 5.1 and 5.2 shall be subject to the terms and conditions set forth in Section 9.2. 
 8. Termination
Obligations. 
 8.1 Return of Company’s Property. Executive hereby acknowledges and agrees that all personal
property, including, without limitation, all books, manuals, records, reports, notes, contracts, lists, blueprints and other documents or materials, or copies thereof, and equipment furnished to or prepared by Executive in the course of or incident
to Executive’s employment, belong to Company and shall be promptly returned to Company upon termination of Executive’s employment. Following termination, Executive will not retain any written or other tangible material containing any
proprietary information of information pertaining to the Company’s proprietary information. 
 8.2 Cooperation in
Pending Work. Following any termination of Executive’s employment, Executive shall fully cooperate with the Company in all matters relating to the winding up of pending work on behalf of the Company and the orderly transfer of work to other
executives of the Company. Executive shall also cooperate in the defense of any action brought by any third party against the Company that relates in any way to Executive’s acts or omissions while employed by the Company. 

9. Taxes. 
 9.1 280G. 
 (a) Notwithstanding any other provision of this Agreement,
except as set forth in Section 9.1(b), in the event that the Company undergoes a “Change in Ownership or Control” (as defined below), the Company shall not be obligated to provide to the Executive a portion of any “Contingent
Compensation Payments” (as defined below) that the Executive would otherwise be entitled to receive to the extent necessary to eliminate any “excess parachute payments” (as defined in Code Section 280G(b)(1)) for the Executive.
For purposes of this Section 9.1, the Contingent Compensation Payments so eliminated shall be referred to as the “Eliminated Payments” and the aggregate amount (determined in accordance with Treasury Regulation Section 1.280G-1,
Q/A-30 or any successor provision) of the Contingent Compensation Payments so eliminated shall be referred to as the “Eliminated Amount.” 
 (b) Notwithstanding the provisions of Section 9.1(a), no such reduction in Contingent Compensation Payments shall be made if (i) the Eliminated Amount (computed without regard to this sentence)
exceeds (ii) 100% of the aggregate present value (determined in accordance with Treasury Regulation Section 1.280G-1, Q/A-31 and Q/A-32 or any successor provisions) of the amount of any additional taxes that would be incurred by the
Executive if the Eliminated Payments (determined without regard to this sentence) were paid to him (including, 

  
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state and federal income taxes on the Eliminated Payments, the excise tax imposed by Section 4999 of the Code payable with respect to all of the Contingent Compensation Payments in excess of
the Executive’s “base amount” (as defined in Section 280G(b)(3) of the Code), and any withholding taxes). The override of such reduction in Contingent Compensation Payments pursuant to this Section 9.1(b) shall be referred
to as a “Section 9.1(b) Override.” For purpose of this paragraph, if any federal or state income taxes would be attributable to the receipt of any Eliminated Payment, the amount of such taxes shall be computed by multiplying the
amount of the Eliminated Payment by the maximum combined federal and state income tax rate provided by law. 
 (c) For purposes
of this Section 9.1 the following terms shall have the following respective meanings: 
 (i) “Change in Ownership or
Control” shall mean a change in the ownership or effective control of the Company or in the ownership of a substantial portion of the assets of the Company determined in accordance with Section 280G(b)(2) of the Code. 

(ii) “Contingent Compensation Payment” shall mean any payment (or benefit) in the nature of compensation that is made or made
available (under this Agreement or otherwise) to a “disqualified individual” (as defined in Section 280G(c) of the Code) and that is contingent (within the meaning of Section 280G(b)(2)(A)(i) of the Code) on a Change in Ownership
or Control of the Company. 
 (d) Any payments or other benefits otherwise due to the Executive following a Change in Ownership
or Control that could reasonably be characterized (as determined by the Company) as Contingent Compensation Payments (the “Potential Payments”) shall not be made until the dates provided for in this Section 9.1(d). Within thirty
(30) days after each date on which the Executive first becomes entitled to receive (whether or not then due) a Contingent Compensation Payment relating to such Change in Ownership or Control, the Company shall determine and notify the Executive
(with reasonable detail regarding the basis for its determinations) (i) which Potential Payments constitute Contingent Compensation Payments, (ii) the Eliminated Amount and (iii) whether the Section 9.1(b) Override is applicable.
Within thirty (30) days after delivery of such notice to the Executive, the Executive shall deliver a response to the Company (the “Executive Response”) stating either (A) that he agrees with the Company’s determination
pursuant to the preceding sentence, or (B) that he disagrees with such determination, in which case he shall set forth (i) which Potential Payments should be characterized as Contingent Compensation Payments, (ii) the Eliminated
Amount, and (iii) whether the Section 9.1(b) Override is applicable. In the event that the Executive fails to deliver an Executive Response on or before the required date, the Company’s initial determination shall be final. If and to
the extent that any Contingent Compensation Payments are required to be treated as Eliminated Payments pursuant to this Section 9.1, then the payments shall be reduced or eliminated, as determined by the Company, in the following order:
(i) any cash payments, (ii) any taxable benefits, (iii) any nontaxable benefits, and (iv) any vesting of equity awards in each case in reverse order beginning with payments or benefits that are to be paid the farthest in time
from the date that triggers the applicability of the excise tax, to the extent necessary to maximize the Eliminated Payments. If the Executive states in the Executive 

  
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Response that he agrees with the Company’s determination, the Company shall make the Potential Payments to the Executive within three (3) business days following delivery to the Company
of the Executive Response (except for any Potential Payments which are not due to be made until after such date, which Potential Payments shall be made on the date on which they are due). If the Executive states in the Executive Response that he
disagrees with the Company’s determination, then, for a period of sixty (60) days following delivery of the Executive Response, the Executive and the Company shall use good faith efforts to resolve such dispute. If such dispute is not
resolved within such sixty (60)-day period, such dispute shall be settled exclusively by arbitration in the State of Connecticut, in accordance with the rules of the American Arbitration Association then in effect. Judgment may be entered on the
arbitrator’s award in any court having jurisdiction. The Company shall, within three (3) business days following delivery to the Company of the Executive Response, make to the Executive those Potential Payments as to which there is no
dispute between the Company and the Executive regarding whether they should be made (except for any such Potential Payments which are not due to be made until after such date, which Potential Payments shall be made on the date on which they are
due). The balance of the Potential Payments shall be made within three (3) business days following the resolution of such dispute. Subject to the limitations contained in Sections 9.1(a) and (b) hereof, the amount of any payments to
be made to the Executive following the resolution of such dispute shall be increased by amount of the accrued interest thereon computed at the prime rate announced from time to time by The Wall Street Journal, compounded monthly from the date
that such payments originally were due. 
 (e) The provisions of this Section 9.1 are intended to apply to any and all
payments or benefits available to the Executive under this Agreement or any other agreement or plan of the Company under which the Executive receives Contingent Compensation Payments. 

9.2 Payments Subject to 409A. Subject to this Section 9, any severance payments or benefits under this Agreement shall begin
only upon the date of the Executive’s “separation from service” (determined as set forth below) which occurs on or after the date of the Executive’s termination of employment. The following rules shall apply with respect to
distribution of the payments and benefits, if any, to be provided to the Executive under this Agreement: 
 (a) It is intended
that each installment of the severance payments and benefits provided under this Agreement shall be treated as a separate “payment” for purposes of Section 409A. Neither the Company nor the Executive shall have the right to accelerate
or defer the delivery of any such payments or benefits except to the extent specifically permitted or required by Section 409A. 
 (b) If, as of the date of the Executive’s “separation from service” from the Company, the Executive is not a “specified Executive” (within the meaning of Section 409A), then
each installment of the severance payments and benefits shall be made on the dates and terms set forth in this Agreement. 

  
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 (c) If, as of the date of the Executive’s “separation from service” from the
Company, the Executive is a “specified Executive” (within the meaning of Section 409A), then: 
 (i) Each
installment of the severance payments and benefits due under this Agreement that will be paid within the short-term deferral period (as defined in Section 409A) shall be treated as a short-term deferral within the meaning of Treasury Regulation
Section 1.409A-1(b)(4) to the maximum extent permissible under Section 409A; and 
 (ii) Each
installment of the severance payments and benefits due under this Agreement that is not described in Section 9.2(c)(i) above and that would, absent this subsection, be paid within the six (6)-month period following the Executive’s
“separation from service” from the Company shall be paid during the ten (10) day period following the date that is six (6) months and one day after such separation from service (or, if earlier, the Executive’s death), with
any such installments that are required to be delayed being accumulated during the six (6)-month period and paid in a lump sum on the date that is six (6) months and one (1) day following the Executive’s separation from service and
any subsequent installments, if any, being paid in accordance with the dates and terms set forth herein; provided, however, that the preceding provisions of this sentence shall not apply to any installment of severance payments and
benefits if and to the maximum extent that such installment is deemed to be paid under a separation pay plan that does not provide for a deferral of compensation by reason of the application of Treasury Regulation 1.409A-1(b)(9)(iii) (relating
to separation pay upon an involuntary separation from service). Any installments that qualify for the exception under Treasury Regulation Section 1.409A-1(b)(9)(iii) must be paid no later than the last day of the second (2nd) taxable year following the taxable year in which the
separation from service occurs. 
 (d) The determination of whether and when the Executive’s separation from service from
the Company has occurred shall be made in a manner consistent with, and based on the presumptions set forth in, Treasury Regulation Section 1.409A-1(h). Solely for purposes of this Section 9.2, “Company” shall include all persons
with whom the Company would be considered a single employer as determined under Treasury Regulation Section 1.409A-1(h)(3). 
 (e) All reimbursements and in-kind benefits provided under this Agreement shall be made or provided in accordance with the requirements of Section 409A to the extent that such reimbursements or
in-kind benefits are subject to Section 409A, including, where applicable, the requirements that (i) any reimbursement is for expenses incurred during the Executive’s lifetime (or during a shorter period of time specified in this
Agreement), (ii) the amount of expenses eligible for reimbursement during a calendar year may not affect the expenses eligible for reimbursement in any other calendar year, (iii) the reimbursement of an eligible expense will be made on or
before the last day of the calendar year following the year in which the expense is incurred and (iv) the right to reimbursement is not subject to set off or liquidation or exchange for any other benefit. 

(f) Executive expressly acknowledges and agrees that the Company is not making any representations or warranties to him and shall have no
liability to him or any other person with respect to payments made under this Agreement if any provisions of or payments under the Agreement are determined to constitute deferred compensation subject to Code Section 409A but not to satisfy the
conditions of that section. 

  
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 10. Non-Competition and Non-Solicitation Agreement. The Executive affirms the
continued effect of the Non-Competition and Non-Solicitation Agreement attached hereto as Exhibit A. 
 11.
Definitions. For purposes of this Agreement, the following terms shall have the following meanings: 
 11.1 “Accrued
Obligations” shall mean (a) the portion of the Executive’s base salary as has accrued prior to the Date of Termination with the Company and has not yet been paid, (b) an amount equal to the value of the Executive’s accrued
but unused vacation days, (c) the amount of any bonus for the prior fiscal year previously determined by the Board to have been earned but not yet paid, and (d) the amount of any expenses properly incurred by the Executive on behalf of the
Company prior to the Date of Termination and not yet reimbursed. 
 11.2 “Cause” shall mean (a) a good
faith finding by the Company that (i) the Executive has failed to substantially perform his reasonably assigned duties for the Company, or (ii) the Executive has engaged in dishonesty, gross negligence or misconduct, which dishonesty,
gross negligence or misconduct has had a material adverse effect on the Company, (b) the conviction of the Executive of, or the entry of a pleading of guilty or nolo contendere by the Executive to, any felony or (c) breach by the Executive
of any material provision of this Agreement, any invention and non-disclosure agreement, non-competition and non-solicitation agreement or other agreement with the Company, provided that in the case of clauses (a) and (c), the Company
shall provide notice to the Executive and such breach shall not have been cured within thirty (30) days of such notice. 

11.3 “Change in Control” shall mean the sale of all or substantially all of the capital stock (other than the sale of
capital stock to one or more venture capitalists or other institutional investors pursuant to an equity financing (including a debt financing that is convertible into equity) of the Company approved by a majority of the Board), assets or business of
the Company, by merger, consolidation, sale of assets or otherwise (other than a merger or consolidation in which all or substantially all of the individuals and entities who were beneficial owners of the Common Stock immediately prior to such
transaction beneficially own, directly or indirectly, more than fifty percent (50%) of the outstanding securities entitled to vote generally in the election of directors of the resulting, surviving or acquiring corporation in such transaction),
provided that, where applied to compensation subject to Section 409A, any acceleration of or change in payment shall only apply (if required by Section 409A) if the Change in Control is also a change in control event described in Treasury
Regulation 1.409A-3(i)(5). 
 11.4 “Change in Control Date” means the first date during the Employment Period
on which a Change in Control occurs. Anything in this Agreement to the contrary notwithstanding, if (a) a Change in Control occurs, (b) the Executive’s employment with the Company is terminated within sixty (60) days prior to the
date on which the Change in Control occurs, and (c) it is reasonably demonstrated by the Executive that such termination of employment (i) was at the request of a third party who has taken steps reasonably calculated to effect a Change in
Control or (ii) otherwise arose in connection with or in anticipation of a 

  
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Change in Control, then the “Change in Control Date” shall mean the date immediately prior to the date of such termination of employment. Where applicable, the Company shall take such
steps as are reasonably practicable as of the termination date to preserve the availability of equity compensation that may expire (other than by reaching the full term of an option) during the sixty (60) day period (by vesting and freezing the
equity) pending the occurrence of the Change in Control. 
 11.5 “Disability” shall mean the inability of the
Executive, due to a physical or mental disability, for a period of ninety (90) days, whether or not consecutive, during any 360-day period to perform the services contemplated under this Agreement, with reasonable accommodation, as that term is
defined under state or federal law. A determination of disability shall be made by a physician satisfactory to both the Executive and the Company, provided that if the Executive and the Company do not agree on a physician, the
Executive and the Company shall each select a physician and these two together shall select a third physician, whose determination as to disability shall be binding on all parties. 

11.6 “Good Reason” shall exist upon (i) a material diminution in the Executive’s base compensation;
(ii) a requirement that the Executive’s principal place of providing services to the Company change by more than thirty (30) miles, other than in a direction that reduces the Executive’s daily commuting distance; (iii) any
material breach by the Company or any successor thereto of the Employment Agreement; or (iv) a material diminution in the Executive’s authority, duties, or responsibilities, provided, however, that nothing shall require the Executive to
hold the same title or same functional role within an entity resulting from a Change in Control so long as the Executive’s responsibilities are not substantially diminished. Notwithstanding the occurrence of any of the foregoing events or
circumstances, a resignation shall not be deemed to constitute resignation for Good Reason unless (x) the Executive gives the Company a written notice of the purported Good Reason (no more than ninety (90) days after the initial existence
of such event or circumstance), (y) such event or circumstance has not been fully corrected (and the Executive has not been reasonably compensated for any losses or damages resulting therefrom) within thirty (30) days following the
Company’s receipt of such notice of termination, and (z) the resignation becomes effective not more than sixty (60) days following the date of notice. 
 12. Miscellaneous. 
 12.1 Entire Agreement; Modification. This
Agreement constitutes the entire Agreement between the parties hereto with regard to the subject matter hereof, superseding all prior understandings and agreements, whether written or oral, including any prior employment agreement, and,
specifically, the Prior Agreement, the Supplemental Agreement, and the Supplemental Terms. 
 12.2 Notices. Any notices
delivered under this Agreement shall be deemed duly delivered three (3) business days after it is sent by registered or certified mail, return receipt requested, postage prepaid, or one business day after it is sent for next-business day
delivery via a reputable nationwide overnight courier service, to the Company at its principal headquarters and to the Executive at the address most recently shown on the personnel records of the Company. Either party may change the address to which
notices are to be delivered by giving notice of such change to the other party in the manner set forth in this Section 12.2. 

  
 - 11 -

 12.3 Pronouns. Whenever the context may require, any pronouns used in this Agreement
shall include the corresponding masculine, feminine or neuter forms, and the singular forms of nouns and pronouns shall include the plural, and vice versa. 
 12.4 Amendment. This Agreement may be amended or modified only by a written instrument executed by both the Company and the Executive and approved by a majority of the members of the Board.

 12.5 Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of
Connecticut (without reference to the conflicts of laws provisions thereof). Any action, suit or other legal proceeding arising under or relating to any provision of this Agreement shall be commenced only in a court of the State of Connecticut (or,
if appropriate, a federal court located within Connecticut), and the Company and the Executive each consents to the jurisdiction of such a court. The Company and the Executive each hereby irrevocably waive any right to a trial by jury in any action,
suit or other legal proceeding arising under or relating to any provision of this Agreement. 
 12.6 Successors and
Assigns. This Agreement shall be binding upon and inure to the benefit of both parties and their respective successors and assigns, including any corporation with which, or into which, the Company may be merged or which may succeed to the
Company’s assets or business, provided, however, that the obligations of the Executive are personal and shall not be assigned by him. 
 12.7 Waivers. No delay or omission by the Company in exercising any right under this Agreement shall operate as a waiver of that or any other right. A waiver or consent given by the Company on any
one occasion shall be effective only in that instance and shall not be construed as a bar or waiver of any right on any other occasion. 
 12.8 Captions. The captions of the sections of this Agreement are for convenience of reference only and in no way define, limit or affect the scope or substance of any section of this Agreement.

 12.9 Severability. In case any provision of this Agreement shall be invalid, illegal or otherwise unenforceable, the
validity, legality and enforceability of the remaining provisions shall in no way be affected or impaired thereby. 
 12.10
Executive’s Acknowledgments. The Executive acknowledges that he: (i) has read this Agreement; (ii) has been represented in the preparation, negotiation, and execution of this Agreement by legal counsel of the Executive’s
own choice or has voluntarily declined to seek such counsel; (iii) understands the terms and consequences of this Agreement; (iv) is fully aware of the legal and binding effect of this Agreement; and (v) understands that the law firm
of Wilmer Cutler Pickering Hale and Dorr LLP is acting as counsel to the Company in connection with the transactions contemplated by the Agreement, and is not acting as counsel for the Executive. 

  
 - 12 -

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 - 13 -

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year
set forth above. 
  

			
	ACHILLION PHARMACEUTICALS, INC.
		
	By:	 	 /s/ Gary Frashier

		 	Gary Frashier
		 	Chair, Compensation Committee
	
	EXECUTIVE:
	
	 /s/ Milind S. Deshpande

	Milind S. Deshpande, Ph.D.

  
 - 14 -EX-10.1

 Exhibit 10.1 
 February 26, 2013 
 Kitty Yung 
 Dear Kitty: 
 American Eagle Outfitters Hong Kong Limited (the “Company”) is
pleased to offer you the position of Executive Vice President – Asia/Pacific reporting to Robert Hanson, Chief Executive Officer. The details of the terms and conditions of this offer letter are outline herein and in the attached documents
(collectively, the “Employment Agreement”). 
 This offer letter and the terms of our offer are highly confidential. You agree
to keep this offer and its terms confidential and you will not disclose the offer or its terms to any third party (excluding your spouse, lawyer, tax advisor or pursuant to court order). You understand that if you breach this provision the offer may
be automatically revoked at the Company’s discretion and the Company will have no obligation to you. 
 Commencement Date:
Your employment with the Company shall commence on the date in which you begin to provide full time service for the Company. Your position will be based in Hong Kong. 
 Salary: You will be paid an annual base salary of US$575,000 per annum less applicable taxes and withholdings (or pro-rated amount for incomplete year of service), payable in 12 equal
monthly instalments by the end of each month. 
 Sign-on Cash Bonus: You will be eligible for a cash sign-on bonus of US$450,000
gross, paid in a lump-sum in 30 days after your employment commences. This payment is subject to the attached repayment agreement. 

Annual Incentive Bonus: Subject to the terms of this clause, you will be eligible to earn an incentive compensation bonus of up to 70%
(Target) of your base salary equal to US$402,500 with a maximum up to 140% equal to US$805,000. You will first be eligible to participate in the Annual Incentive Bonus plan for fiscal year 2013, and your entitlement to the Annual Incentive Bonus is
based upon the achievement of the Company and Brand (where applicable) financial performance based goals to be established by the Compensation Committee of the Board of Directors of the Company (the “Compensation Committee”). In order to
be eligible to receive this Bonus, you must remain continuously employed by the Company through the date the Bonus is awarded. Fiscal 2013 bonus will not be prorated based on your service within the performance period. 

Restricted Stock Units: Upon your Commencement Date, you will be eligible for consideration of a RSU grant with an expected value of
US$250,000.The grant price will be the closing price of American Eagle Outfitters, Inc (“AEO”) common stock on the grant date. The number of units can fluctuate based on the stock price at the grant date, but the overall grant value
will remain constant. The units will be a part of the grant made by the Compensation Committee pursuant to and subject to all terms and conditions set forth in the AEO’s 2005A Plan. 
 The RSU grant will only vest contingent upon the achievement of your personal goals set with the Company for both fiscal year 2013 and fiscal year 2014. If your performance meets or exceeds the targets
for fiscal year 2013 and fiscal year 2014, the entire RSU grant will vest 2 years after the grant date, in the Spring of fiscal year 2015. The Compensation Committee must verify that the performance goals and other material terms are met prior to
vesting. If your employment is terminated for any reasons before the vesting of the RSU grant, any unvested RSU grant shall be forfeited without compensation. 

 Additionally, upon your Commencement Date, you will be eligible for consideration of a RSU grant with an
expected value of US$270,000. The grant price will be the closing price of AEO common stock on the grant date. The number of units can fluctuate based on the stock price at the grant date, but the overall grant value will remain constant. The units
will be a part of the grant made by the Compensation Committee pursuant to and subject to all terms and conditions set forth in the AEO’s 2005A Plan. 
 If AEO performance meets or exceeds certain Company targets for fiscal year 2013, the entire RSU grant will vest upon certification of fiscal year 2013 performance. The Compensation Committee must verify
that the performance goals and other material terms are met prior to vesting. However, if the performance goals for fiscal year 2013 are not met, then the RSU grant will vest proportionally over three years from the grant date based solely on your
continued employment with the Company over that period. For the avoidance of doubt, if your employment is terminated for any reasons during the aforesaid three-year period, any unvested RSU grant shall be forfeited without compensation. 

It is the parties’ intention that the 2005A Plan be adopted and administered in a manner that enables the Company to deduct for federal income tax
purposes the full value of all RSU grants (if applicable). 
 Based upon Company performance in Fiscal 2013, you will be eligible for
consideration for a time-based Restricted Stock award, granted in Spring 2014 and vesting in Spring, 2015 up to US$400,000 in grant value. 

For the avoidance of doubt, your entitlement to the RSU grant shall also be subject to the terms and conditions of the RSU Confidentiality,
Non-Solicitation, Non-Competition and Intellectual Property Agreement attached hereto. 
 Performance Share Plan: Upon your
Commencement Date, you will be eligible for consideration of a Performance Share Unit grant with an expected target value of US$330,000. The grant price will be the closing price of AEO common stock on the grant date. The number of units can
fluctuate based on the stock price at the grant date, but the overall value will remain constant. Vesting of the PSU will be contingent upon the achievement of AEO performance goals set by the Company at its discretion for a given 3-year period.
Based upon AEO performance, the units will vest at the end of the 3-year period. The actual number of units vested will be based upon a sliding performance scale, varying between 0-150% of the target award. Shares not vested will be forfeited.

 The units will be part of the grant made by the Compensation Committee pursuant to and subject to all terms and conditions set forth in the
AEO’s 2005A Plan. It is the parties’ intention that the 2005A Plan be adopted and administered in a manner that enables the Company to deduct for federal income tax purposes the full value of all RSU grants (if applicable). 

Performance Review: Annual performance appraisals take place in March. You will receive your first evaluation for merit consideration in
March, 2014 with a retro-active effective date to the beginning of the 2014 fiscal year. 
 Mandatory Provident Fund (MPF): You
will participate in the Company’s mandatory provident fund in accordance with applicable laws. 
 Health Insurance: Medical
and dental coverage will begin on your first day of employment at no cost to you and will be administered by HSBC. Please note that the Company has rights to amend, revise, cancel or change the service provider of the insurance scheme at its sole
discretion. 

 Vision Plan: The Company will provide you with reimbursements up to HK $1,550 dollars per
calendar year for vision services rendered. Any unused entitlement in one year cannot be carried forward to the following year. 

Life & Disability (Personal Accident) Insurance: You will be enrolled in the Company’s Life Insurance scheme and Accidental
Death & Dismemberment Insurance/Total & Permanent Disability scheme at no cost to you. Please note that the Company has rights to amend, revise, cancel or change the service provider of the insurance scheme at its sole discretion.

 Working Hours: The Company works on a five day work week. You will always be entitled to one statutory rest day in each
7–day period as required per Hong Kong law; such day will be determined by the Company. You may be required to work a sixth day occasionally and when traveling, or otherwise as business dictates. 

Annual Leave: In addition to all Hong Kong general holidays, you will be entitled to 28 working days of paid annual leave in a leave year
(or a pro-rated number for incomplete year of service). You may begin to take your annual leave after 60 days of employment with the consent of the Company. 
 Car Allowance: You will receive a monthly car allowance of USD$1,500 gross. This will be paid to you at the end of each month. 
 Taxes: As your position is based in Hong Kong (home country), there may be times when business travel outside the country is necessary. If you become subject to foreign country tax
liability due to business travel on wage income paid by AEO, the Company will tax equalize you to your home country tax liability. 

Contractual Severance Payment: If your employment is terminated by the Company for any reason or no reason at all, except for proven fraud,
you will be entitled to receive a contractual severance payment equivalent to 12 months’ base salary within 30 days of the termination of employment conditioned upon the execution of a General Release in a form provided by The Company. This
contractual severance payment is inclusive of any statutory severance payment that may be payable under the Hong Kong Employment Ordinance. 

Merchandise Discount: You will also be eligible for an employee discount of 40% off regular price merchandise and 25% off sale merchandise.

 RSU Confidentiality, Non-Solicitation, Non-competition and Intellectual Property Agreement: Your employment is conditioned upon
your execution of the form of Confidentiality, Non-Competition and Intellectual Property Agreement (the “RSU Confidentiality Agreement”) attached to this letter. 
 Third Party Confidential Information: The terms and conditions of your employment with the Company prohibit you from using or disclosing any confidential or proprietary information of third
parties, including your prior employers. In your employment with the Company, you are expected to comply with any current contractual restrictions that prohibit either the misappropriation or disclosure of confidential and proprietary
information or the solicitation of employees.
 Future Compensation: The compensation package outlined here is based on current
American Eagle benefits and compensation policies and practices. Your compensation and benefits levels are subject to change by the Company in the future, but shall not be less than as set out above in this Employment Agreement, unless such
reductions apply on the same basis to all executive officers of the Company. 

 We also attach an Appendix setting out additional terms and conditions of employment (the
“Appendix”) which form part of this Employment Agreement. Please sign and date one copy of this letter, one copy of the enclosed Appendix, and one copy of the RSU Confidentiality Agreement enclosed herein, and return them to Dave
McNulty’s attention. You can scan and email your signed copy to mcnultyd@ae.com and then send the original in the postal mail. I have enclosed an additional copy for your records. 
 Please feel free to contact me if you have any questions. 
 We very much look forward to you
becoming a member of our team at American Eagle Outfitters. Please sign and date one copy of this and return it to us to verify your verbal acceptance. Because of your professional level within the Company, this offer is subject to approval by
the Board of Directors, which we anticipate receiving shortly. Upon approval, we will send you a fully executed copy of this letter for your records. Please let me know if you have any questions. 

Sincerely, 
 /s/ Robert Hanson 

Robert Hanson 
 Chief Executive Officer

 For and on behalf of 
 American Eagle
Outfitters Hong Kong Limited 
 I accept the offer of employment under the terms noted in this letter and attached Appendix. 

 

					
			
	/s/ Kitty Yung	 		 	April 8, 2013
	Kitty Yung	 		 	Date

 AMERICAN EAGLE OUTFITTERS HONG KONG LIMITED 

SIGN-ON BONUS PAYBACK AGREEMENT 
 For: Kitty Yung 
 In exchange for American Eagle Outfitters Hong Kong Limited’s
agreement to provide a one-time, sign-on bonus in the amount of US$450,000 GROSS to me in connection with my employment, I agree as follows: 

I acknowledge that I have read this Sign-On Bonus Payback Agreement and that I understand its provisions. 

I agree that if I voluntarily terminate my employment with American Eagle Outfitters Hong Kong Limited (the “Company”), or I am
dismissed by the Company based on gross misconduct or proven dishonesty during the first 12 months of employment following my start date, I will payback to the Company 100% of the monies received. 

If I leave the Company’s employment as stated above, subject to applicable laws, I authorize them to deduct from monies otherwise due to me, any
amounts I am obligated hereunder to pay. I understand that if such monies are not sufficient to repay the full amount I owe, I will immediately pay the remainder owed to the Company under this Agreement. In the event that I fail to pay the remaining
amounts due within 30 days following the date that I terminate my employment, I will also pay the Company interest at an annual rate of one (1%) percent over prime on all amounts that remain unpaid after the end of such 30-day period.

 I agree to pay the Company’s cost (including reasonable attorney’s fees and court costs) of collecting any amounts payable under
this Agreement. 
  

			
		
	Signature:	 	/s/ Kitty Yung
		 	Kitty Yung
		
	Date:	 	April 8, 2013

 ONE COPY OF THIS SIGN-ON BONUS PAYBACK AGREEMENT MUST BE SIGNED AND RETURNED TO HUMAN RESOURCES PRIOR TO
PAYMENT OF ANY AMOUNT. PLEASE RETAIN THE OTHER FOR YOUR RECORDS. 

 Appendix 
 I, Kitty Yung, agree that the additional employment terms set out in this Appendix shall form part of my terms and conditions of employment with American Eagle Outfitters Hong Kong Limited (hereinafter
referred to as the “Company”). 
 In consideration of being hired as Executive Vice President–Asia Pacific with the
Company, I acknowledge and agree to the following: 
  

	 	1.	I will not have any financial involvement with any customer, supplier or vendor, or any involvement in any trade or other business, whether for personal gain or that of
a third party, where a conflict of interest with the Company may exist. I will avoid situations where my personal interest may conflict or appear to conflict with that of the Company or a client, supplier or vendor of the Company and if there is any
doubt I will obtain prior authorization from my manager. I will not accept gifts from a customer, supplier or vendor, or any prospective customer, supplier or vendor of the Company except as permitted by the Company policy. 

 

	 	2.	I agree that during my employment with the Company, I will devote my full working time and attention and best efforts to the service and benefit of the Company’s
business and shall comply with all rules, regulations, policies and instructions of the Company. 

  

	 	3.	I will behave in an honest, decent, courteous manner at all times in dealing with customers and employees of the Company. I understand that discriminatory practices are
against Company policy and I agree that I will not act in a discriminatory manner in dealing with customers and employees, including acts of sexual or psychological harassment. 

 

	 	4.	Subject to the other provisions of this Employment Agreement, including specifically payment of the equivalent of 12 months base salary as set forth in the Contractual
Severance Payment provision in the main body of the Employment Agreement, I understand that my employment may be terminated by either the Company or myself by serving on the other party not less than 1 months’ notice in writing or by making
payment in lieu of notice. I also understand that subject to the other provisions of this Employment Agreement, including specifically payment of the equivalent of 12 months base salary as set forth in the Contractual Severance Payment provision in
the main body of the Employment Agreement, the Company may terminate my employment at any time without 1 month’s notice or 1 month’s payment in lieu thereof for just cause including, but not limited to, any material breach of any terms and
conditions of employment. 

  

	 	5.	I have not relied on any representations (either verbal, written, or otherwise) by the Company, its agents, employees, officers, or employment consultants, prior to my
commencement of employment except as specifically set forth in this Appendix and the related offer letter received by me. 

  

	 	6.	I understand that the Company reserves the right to change, without notice, the terms of its benefit plan, incentive plan, retirement plan, stock option plan, and any
other Company or successor plan of which I may be eligible to participate (hereinafter “plans”). I agree to comply with and be bound by the terms of these plans (if eligible). Upon ceasing to be an employee for any reason, I understand and
agree that no further rights accrue under these plans (unless vested and expressly provided otherwise under the terms of the plans or in this Employment Agreement) effective the day I cease employment. I understand that I cease to be an employee on
the date that I am effectively and lawfully dismissed. In the event of any potential inconsistent interpretation between this paragraph and any of the plans, this paragraph shall take precedence and govern. 

	 	7.	I understand and agree that my job responsibilities, manner of remuneration, reporting relationship, hours of work, and the geographic location where I perform my job
may change from time to time and that the Company has the right to make these changes in the Company’s sole discretion, provided that the total remuneration package shall not be less than set out above in this Employment Agreement, unless such
reductions apply on the same basis to all executive officers of the Company. I understand and agree that such changes will not constitute a constructive termination of my employment. 

 

	 	8.	I understand this Appendix and the related offer letter may not be changed, amended or modified orally, and may only be changed, amended or modified by written
agreement between myself and the Company. I also understand and agree that the terms and obligations outlined in this Appendix shall continue to apply in the future regardless of what position I may hold. 

 

	 	9.	I acknowledge that certain information which may be acquired by me during the course of my employment relating, without limitation to the Company’s systems,
financial results or forecasts, sales or marketing results, vendor contracts or arrangements, marketing programs or strategies, or merchandising programs may be of a confidential nature and that disclosure of such information, particularly to
competitors, could be damaging to the Company’s interest. Accordingly, I agree to keep all such information which is identified to me as being confidential or which, by its nature, should be apparent to me to be commercially sensitive and that
is not already in the public domain or enters the public domain through no fault of mine, strictly confidential except as required by law, regulation, or court order and I agree not to disclose such information to any one outside the Company at any
time during within three years after my employment with the Company, provided for the avoidance of doubt, after the end of my employment with the Company, I will be permitted to utilize my acquired professional skill and experience in other
employment and in providing services to others 

  

	 	10.	I agree that I will not, without the prior written consent of the Company, and for a period of eighteen months after the date of the termination of my employment for
whatever reason, directly or indirectly interfere with, hire, entice away or otherwise engage the services of any employee of the Company, who was at any time during the twelve months prior to my termination of employment, an employee of the
Company, with whom I have/had dealing. 

  

	 	11.	In the event that any provision or part of this Appendix or the related offer letter shall be deemed void or invalid by a court, the remaining provisions, or parts of
it, shall be and remain in full force and effect. 

  

	 	12.	I understand that the Company is committed to a policy of treating all its employees equally. No employee shall receive less favorable treatment or consideration on the
grounds of disability, sex or family status or will be disadvantaged by any conditions of employment or company requirements that cannot be justified as necessary on operational grounds. 

 

	 	13.	Subject to applicable laws, I understand that the personal data I have supplied for the purpose of employment is required for obtaining reference checks, for
maintaining employee records, for assessing employee compensation and benefits, for training and development, for appraisal and for emergency purposes and such personal data may be forwarded to the Company’s insurers, bankers, and medical
practitioners providing medical services to employees, if applicable, and to any relevant service provider or any government authority (at the authority’s request). 

 

	 	14.	I hereby represent and warrant that I am free from any encumbrances or restrictions imposed by my current or former employer which may in any way prohibit me from
performing services for the Company. I further represent and warrant that I have not breached and will not breach any duty of confidentiality to my current/former employer or any third party under any contract or common law in carrying out my
duties. I confirm that the Company has not requested or induced me to breach any of my duty of confidentiality to any party. 

	 	15.	This Appendix and the related offer letter dated February 26, 2013 contain the entire understanding between the parties in relation to the subject matter hereunder
and supersedes any prior understanding or agreement (whether written or oral) in relation to the subject matter hereunder. 

  

	 	16.	This Appendix and the related offer letter shall be governed by and construed in accordance with the laws of the Hong Kong Special Administrative Region.

 In signing my name below I agree that I have read, understand and agree to the terms and provisions as outlined in this
Appendix and the offer letter dated February 26, 2013. I agree I have had the opportunity to seek explanation as required, and to obtain independent legal advice prior to signing below. 

 

					
			
	/s/ Kitty Yung	 		 	April 8, 2013
	Kitty Yung	 		 	Date

 AMERICAN EAGLE OUTFITTERS HONG KONG LIMITED 

RSU Confidentiality, Non-Solicitation, Non-Competition And Intellectual Property Agreement 

As a new officer and/or employee of American Eagle Outfitters Hong Kong Limited or one of its subsidiaries or affiliates (collectively,
the “Company”), the undersigned is eligible to participate in the Company Long Term Restricted Stock Unit Incentive Plan (the “RSU Plan”) and will be placed or retained by the Company in a position of special trust and
confidence, will be granted access to or may develop trade secretes, intellectual property, and other confidential or proprietary information (“Confidential Information”) of the Company, and will be authorized to communicate with
customers, vendors, employees and others to develop good will for the Company. 
 NOW, THEREFORE, in recognition of the highly
competitive nature of the business conducted by the Company and in exchange for and in consideration of: 

	 	•	 	 my employment; and 

	 	•	 	 in the event of termination of my employment without just cause, to be eligible to receive an award in accordance with the terms of the RSU Plan ,
pro-rated based on actual days worked (excluding any period in which pay in lieu of notice is or ought to have been provided) and performance goals being met for the full such period, but not an amount above the “target” award level;

 I agree as follows: 
 1. I will at all times during and after my employment faithfully hold the Company’s Confidential Information in the strictest confidence, and I will use my best efforts and diligence to guard against
its disclosure to anyone other than as required in the proper and lawful performance of my employment. I will not use Confidential Information for my own personal benefit or for the benefit of any competitor or other person. I understand that
Confidential Information includes all information and materials relating to Intellectual Property, as defined below, the Company’s trade secrets and all information relating to the Company that the Company does not make available to the public.
By way of example, Confidential Information includes information about the Company’s products, designs, processes, systems, marketing, promotional plans, technical procedures, strategies, costs, financial information, and many other types of
information and materials. Upon termination of my employment, regardless of the reason for such termination, I will return to the Company all computers, data storage devices, documents and other materials of any kind that contain Confidential
Information, and all copies thereof, whether electronic or hard copy. 
 2. I will not use any confidential information of any
third party, including any prior employer, in breach of a legal obligation to that third party in the course of my employment. 

3. If my employment terminates for any reason whatsoever, then for a period of eighteen (18) months after termination, I will not
directly or indirectly solicit, induce or attempt to influence any employee of the Company to leave his or her employment, nor will I in any way assist anyone else in doing so. 

 4. I agree that all inventions, designs and ideas conceived, produced, created, or reduced
to practice, either solely or jointly with others, during my employment, including those developed on my own time, which relate to or are useful in the Company’s business (“Intellectual Property”) shall be owned solely by the Company.
I understand that whether in preliminary or final form, such Intellectual Property includes, for example, all ideas, inventions, discoveries, designs, innovations, improvements, trade secrets, and other intellectual property. All Intellectual
Property is either work made for hire for the Company within the meaning of the U. S. Copyright Act, and, whether or not such Intellectual Property is determined to be work made for hire, I irrevocably assign all right, title, moral rights and
interest in and to the Intellectual Property to the Company, including all copyrights, patents, and/or trademarks. I will, without any additional consideration, execute all documents and take all other actions needed to convey my complete ownership
of the Intellectual Property to the Company so that the Company may own and protect such Intellectual Property and obtain patent, copyright and trademark registrations for it. I agree that the Company may alter or modify the Intellectual Property at
the Company’s sole discretion, and I waive all right to claim or disclaim authorship. I represent and warrant that any Intellectual Property that I assign to the Company, except as otherwise disclosed in writing at the time of assignment, will
be my sole, exclusive, original work. I have not previously invented any Intellectual Property or I have advised the Company in writing of any prior inventions or ideas. 
 5. If my employment terminates for any reason whatsoever, then for a period of twelve (12) months after termination, I will not, directly or indirectly, engage in (either as an owner, investor,
partner, employer, employee, consultant or director), or otherwise perform services for, any Competitive Business. The term “Competitive Business” means any business in competition with the retail, direct marketing and/or internet apparel
and accessories business and any other material business the Company is engaged in as of the date of termination of employment. Such businesses include, but are not necessarily limited to the following: Gap, Old Navy, Abercrombie & Fitch,
Hollister, Aeropostale, Forever 21, Rue 21, Express, Buckle, Limited, Victoria’s Secret, VS Pink, Pacific Sunwear, J. Crew, Banana Republic, Inditex S.A., Fast Retailing Co., Ltd., and H&M Hennes & Mauritz AB. I understand that the
Company at its discretion may waive this provision or shorten the twelve month period by giving me a written waiver. 
 6. I
understand and agree that if I breach any provision of this Agreement, I shall then immediately have no further rights or entitlements under the RSU Plan or in respect of Restricted Stock Units generally, and I shall not be entitled to any payment
or other entitlement in any way relating to Restricted Stock Units. This paragraph shall govern in the event of any conflict with any other agreement, term of employment or other commitment or arrangement, or any legal requirement except the minimum
extent imposed by applicable legislation that cannot be avoided by contract. 
 7. I understand and agree that the Company has
the right to suspend or terminate the RSU Plan at any time in the future, provided that such suspension or termination does not decrease the value of my then-current account balance. 

8. I understand and agree that the Company is entitled, in addition to other remedies, to obtain an injunction against any potential or
actual violation of this Agreement. This Agreement is in addition to and does not replace any other agreement between me and the Company relating to the subject matter hereof, and I acknowledge that the Company is entitled to enforce any such other
agreement in addition to the provisions of this Agreement. 

 9. Notwithstanding the foregoing, if I am a “specified employee” as defined in
Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and the Company determines that any amounts to be paid to me under this Agreement could be subject to penalty taxes under Section 409A of the Code, then
the Company shall not commence payment of such amounts until the earlier of (a) the date that is six months after my Termination Date or (b) the date of my death. Any amount that otherwise would have been payable but for the delay
described above shall be aggregated and paid with the first payment under this Section 9. For purposes of this Agreement, ‘Termination Date’ shall mean the date on which a ‘separation from service’ occurs, as defined in
Treasury Regulation Section 1.409A-1(h) and the guidance promulgated there under. 
 10. This Agreement cannot be changed
in any way unless the Company agrees in writing. This Agreement will be governed by and interpreted in accordance with Pennsylvania law, without reference to its conflicts of laws rules. 

 

											
		 		 	American Eagle Outfitters Hong Kong Limited
					
	Date:	 	April 8, 2013	 		 	By:	 	 /s/ Robert Hanson

		 		 		 	(American Eagle Outfitters Hong Kong Limited Representative)
		 		 		 		 	Title:	 	Chief Executive
Officer                                        
                
				
	Date:	 	April 8, 2013	 		 	Kitty Yung
		 		 		 	Print Name
				
		 		 		 	/s/ Kitty Yung
		 		 		 	Signature

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