Document:

Schedule of Executive Officer Compensation Arrangements

 Exhibit 10.18 
  
 FIFTH THIRD BANCORP 
  
 Schedule of Executive Officer Compensation Arrangements 
  
 The Company’s cash compensation package for its executive officers consists of two components: (1) base salary;
and (2) annual performance-based bonuses. The Company also provides stock based equity incentive grants to its executive officers as a means to drive long-term performance and promote ownership in the Company. 
  
 Base Salary 
  
 Individual salaries are reviewed annually and salary increases are based on the Company’s overall performance, the
executive’s role and responsibilities, and the executive’s attainment of individual objectives during the preceding year. 
  
 Set forth below are the 2006 base salaries of the Company’s Chief Executive Officer and the four other highest paid Executive Officers of the Company
(2005 actual salary compensation is also shown for comparison): 
  

							
	 Executive Officer:

	  	 2006
 Base Salary

	  	 2005
 Base Salary

	 George A. Schaefer, Jr.
	  	$	990,018	  	$	990,018
	 Kevin T. Kabat
	  	 	610,000	  	 	575,000
	 Robert A. Sullivan
	  	 	560,000	  	 	537,992
	 Greg D. Carmichael
	  	 	531,000	  	 	500,000
	 Charles D. Drucker
	  	 	402,000	  	 	378,747

  
 Annual Bonuses 
  
 Executive Officers are eligible to participate in the Variable Compensation Plan (the
“VCP”). The VCP is authorized under the Incentive Compensation Plan (the “Plan”), which was approved and adopted by the Company’s shareholders in 2004. The Plan allows the Company to issue Annual Incentive Awards (as defined
in the Plan) comprised of cash and/or equity awards. The Committee met in early 2006 and established Performance Goals (as defined in the Plan.) The Performance Goals were set in the form of a bonus grid comprised of both return on equity and
incrementally increasing amounts of earnings per share, which produce an incentive bonus pool available for payments in 2007. The bonus amounts in the grid increase based on the Company’s return on equity relative to its peers and incrementally
higher earnings per share in 2006. Annual Incentive Awards are payable in cash (provided, however, that the Committee may designate that all or a portion of such amount may be payable in common stock of the Company). 
  
 Nonqualified Deferred Compensation Plan 
  
 Executive Officers of Fifth Third Bancorp are eligible to participate in the
Amended and Restated Fifth Third Bancorp Nonqualified Deferred Compensation Plan (the “Deferred Compensation Plan”). The Deferred Compensation Plan is a non-qualified deferred compensation plan which is not subject to the qualification
requirements of Section 401(a) of the Internal Revenue Code. The Deferred Compensation Plan permits participants to defer eligible compensation as specified in the Deferred Compensation Plan. 
  
 Eligible compensation deferred by participants is credited with earnings and
investment gains and losses based on hypothetical investments in Fifth Third Bancorp Common Stock. Investments in a participant’s Common Stock account are designated in units and no shares of Common Stock will be issued until the participant
receives a distribution from the Plan. Amounts deferred are not actually invested in Common Stock. Rather, a grantor trust, which has been created in connection with the Deferred Compensation Plan, holds plan assets. 
  
 Fifth Third Bancorp may make an additional contribution in an amount
determined for each individual to participant’s matching stock account at the time of such allocation. The Deferred Compensation Plan provides that Fifth Third Bancorp may credit a participant’s Company Common Stock Account with additional
amounts, at its sole discretion. Participants are 100% vested at all times in the amounts credited to their accounts under the plan. In addition, participants are credited with dividends on such units of Common Stock which dividends are deemed to be
reinvested in additional shares of Common Stock. 
  
 The amounts
of benefits payable in the future under the plan are not determinable because such benefits depend upon the amount of compensation each participating employee elects to defer and the percentage of compensation that Fifth Third Bancorp, at its sole
discretion, may determine to credit to the accounts of the participants. 

 Stock Based Equity Compensation Grants 
  
 Executive Officers are eligible to receive awards based on Fifth Third’s Common Stock under the Plan. The following
types of stock based equity compensation awards may be granted under the Plan: 
  
 Stock Appreciation Rights (“SARs”). The Compensation Committee may grant SARs independently of any stock option or in tandem with all or any part of a stock option granted under the Plan. Upon
exercise, each SAR entitles a participant to receive an amount equal to the excess of the Fair Market Value (as defined in the Plan) of a share of Common Stock on the date the SAR is exercised over the Fair Market Value of a share of Common Stock on
the date the SAR is granted. The payment may be made in shares of Common Stock having a Fair Market Value on the date of exercise equal to the amount due upon the exercise of the SAR, may be paid in cash, or in a combination. Upon exercise of an SAR
granted in conjunction with a stock option, the option may be required to be surrendered. 
  
 Restricted Stock and Restricted Stock Units. An award of Restricted Stock is an award of shares of Common Stock that may not be sold or otherwise disposed of during a restricted period determined by the
Committee. An award of Restricted Stock Units is an award of the right to receive a share of Common Stock after the expiration of a restricted period determined by the Committee. Restricted Stock may be voted by the recipient. To the extent provided
by the Committee, dividends on the Restricted Stock and Restricted Stock Units may be payable to the recipient in cash or in additional Restricted Stock or Restricted Stock Units. 
  
 Performance Shares and Performance Units. Performance Shares and Performance Units are awards of a fixed or variable
number of shares or of dollar-denominated units that are earned by achievement of performance goals established by the Committee. If the applicable performance criteria are met, the shares are earned and become unrestricted with respect to
Performance Shares or an amount is payable with respect to the Performance Units. The Committee may provide that a certain percentage of the number of Performance Shares or Units originally awarded may be earned based upon the attainment of the
performance goals. Amounts earned under Performance Share and Performance Unit Awards may be paid in Common Stock, cash or a combination of both. During the applicable performance period for an award, the shares may be voted by the recipient and the
recipient may be entitled to receive dividends on those shares, at the discretion of the Committee. 
  
 Stock Options. Stock Options may be nonqualified stock options or incentive stock options that comply with Code Section 422. The exercise
period for any stock option will be determined by the Committee at the time of grant. The exercise price per share for all shares of Common Stock issued pursuant to stock options under the Plan may not be less than 100% of the Fair Market Value of a
share of Common Stock on the grant date. Each stock option may be exercised in whole, at any time, or in part, from time to time, after the grant becomes exercisable. The Plan limits the term of any stock option to 10 years and prohibits repricing
of options. 
  
 Other Incentive Awards. The Committee may
grant other types of awards of which may be based in whole or in part by reference to Common Stock or upon the achievement of performance goals or such other terms and conditions as the Committee may prescribe. As required by Code
Section 162(m), the Plan provides an annual limit of $4,000,000 on the amount a single participant may earn under any such Other Incentive Award. For purposes of this limitation, any award earned over a period greater than one year is deemed to
have been earned ratably over the full and partial calendar years in such period. 
  
 In January, 2006, grants of Stock Appreciation Rights (“SARs”), and Restricted Stock were made to Executive Officers other than Mr. Schaefer under the Plan. Grants of SARs were made to Executive
Officers at an exercise price of 100% of the market value on the date of grant with a vesting date of four years after the date of grant. Grants of Restricted Stock were made to Executive Officers with a four-year period of restriction. Additional
awards may be granted in 2006 or subsequent years at the Committee’s discretion. 
  
 Fifth Third Bancorp’s Compensation Committee may make grants of stock based equity compensation awards to the Executive Officers of Fifth Third Bancorp in the future as well. 
  
 Retirement Plans 
  
 Fifth Third Bancorp also maintains The Fifth Third Bancorp Master Retirement Plan (the “Retirement Plan”) and The
Fifth Third Bancorp Supplemental Retirement Income Plan (the “Supplemental Plan”). The Retirement Plan and Supplemental Plan were frozen as of November 15, 1998 except for employees who were at least age 50 and had 15 years of
credited service as of December 31, 1998. The following table shows estimated annual benefits payable upon retirement under Retirement Plan and the Supplemental Plan based upon combinations of compensation levels and years of service:

 PENSION PLAN TABLE 
  
 Approximate Annual Retirement Benefit Upon Retirement At Age 65 Before Adjustments (1) (2) (3) 
  

											
	Remuneration(4)(5)

	 	15

	 	20

	 	25

	 	30

	 	35

	700,000	 	104,178	 	138,903	 	173,629	 	208,355	 	208,355
	800,000	 	119,428	 	159,237	 	199,046	 	238,855	 	238,855
	900,000	 	134,678	 	179,570	 	224,463	 	269,355	 	269,355
	1,000,000	 	149,928	 	199,903	 	249,879	 	299,855	 	299,855
	1,100,000	 	165,178	 	220,237	 	275,296	 	330,355	 	330,355
	1,200,000	 	180,428	 	240,570	 	300,713	 	360,855	 	360,855
	1,300,000	 	195,678	 	260,903	 	326,129	 	391,355	 	391,355
	1,400,000	 	210,928	 	281,237	 	351,546	 	421,855	 	421,855
	1,500,000	 	226,178	 	301,570	 	376,963	 	452,355	 	452,355
	1,600,000	 	241,428	 	321,903	 	402,379	 	482,855	 	482,855
	1,700,000	 	256,678	 	342,237	 	427,796	 	513,355	 	513,355
	1,800,000	 	271,928	 	362,570	 	453,213	 	543,855	 	543,855
	1,900,000	 	287,178	 	382,903	 	478,629	 	574,355	 	574,355
	2,000,000	 	302,428	 	403,237	 	504,046	 	604,855	 	604,855
	2,100,000	 	317,678	 	423,570	 	529,463	 	635,355	 	635,355
	2,200,000	 	332,928	 	443,903	 	554,879	 	665,855	 	665,855
	2,300,000	 	348,178	 	464,237	 	580,296	 	696,355	 	696,355
	2,400,000	 	363,428	 	484,570	 	605,713	 	726,855	 	726,855
	2,500,000	 	378,678	 	504,903	 	631,129	 	757,355	 	757,355

	(1)	Benefits shown are computed on the basis of a straight life annuity. Other available forms of benefits payment under the Retirement Plan, which are the actuarial equivalent of the
straight life annuity, are the joint and surviving spouse annuity, the contingent annuitant option, the life — 10-year-certain option, and the single lump-sum option. The method of payment from the Supplemental Plan is either a single lump sum
or an installment. 

	(2)	Under the current law, the maximum annual pension benefit payable under the Internal Revenue Code, applicable to the Retirement Plan, is $170,000 for 2005. Any annual pension
benefit accrued over $170,000 is payable under the Supplemental Plan. 

	(3)	The Retirement Plan and Supplemental Plan were frozen as of November 15, 1998 except for employees who were at least age 50 and had 15 years of credited service as of
December 31, 1998. For the purpose of computing a benefit under these Plans on December, 31, 2005, Mr. Schaefer had 34 years of credited service. Mr. Schaefer continues to accrue benefits under these Plans. Mr. Kabat has a frozen
benefit related to his service with Old Kent Financial Corporation. His annual benefit at age 65 would be approximately $65,400. Mr. Carmichael, Mr. Drucker and Mr. Sullivan joined the Company after these plans were frozen and
therefore are not eligible to participate. 

	(4)	The amounts shown are the gross benefit amounts provided by both the Retirement Plan and the Supplemental Plan. Plan benefits are determined as 30.5% of final average pay minus
11.1% of the participant’s social security final average compensation (up to his social security covered compensation) with a reduction of 1/30th for each year of credited service less than 30. Benefits are also reduced for termination of
service prior to age 60, for a commencement of benefit payments prior to age 60, and eliminated under the vesting schedule if the participant has less than five (5) vesting years. 

	(5)	Compensation for retirement benefit calculations under the Retirement Plan is defined as the base rate of pay plus variable compensation and is based on the final average pay for
the highest five consecutive years out of the ten years preceding retirement. The 2005 base pay plus variable compensation are substantially the same as the amounts shown under the “Salary and Bonus” columns of the Summary Compensation
Table. No more than an inflation adjusted $200,000 limit is taken into consideration under the Retirement Plan. Compensation in excess of an inflation adjusted $200,000 limit is taken into account under the Supplemental Plan.Employment Agreement by & between Leonard Bell, M.D. & the Company

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 This EMPLOYMENT AGREEMENT (the “Agreement”) dated as of
February 14, 2006 by and between Alexion Pharmaceuticals, Inc., a Delaware corporation (the “Company”), and Leonard Bell, M.D. (the “Employee”). 
 WITNESSETH 
 WHEREAS, the Company and Employee are parties to that certain
Employment Agreement dated as of October 20, 2003 (the “Old Employment Agreement”); 
 WHEREAS, the Company and the
Employee desire to cancel the Old Employment Agreement and enter into the Agreement; 
 NOW, THEREFORE, in consideration of the premises and
the mutual covenants and agreements herein contained, the parties hereto agree as follows: 
  

	1.	Employment. Duties and Acceptance. 

 (a) The Company
hereby employs the Employee, for the Term (as hereinafter defined), to render full-time services to the Company as Chief Executive Officer, and to perform such duties commensurate with such office as the Employee shall reasonably be directed by the
Board of Directors (the “Board of Directors”) of the Company or its designees to perform, which duties shall be consistent with the provisions of the Bylaws in effect on the date hereof that relate to the duties of the Chief
Executive Officer. 
 (b) The Employee hereby accepts such employment and agrees to render the services described above. The Employee further
agrees to accept election and to serve during all or any part of the Term as a Director of the Company without any compensation therefor other than that specified in this Agreement, if elected to such position by the shareholders of the Company.
During the Term, the Company shall use its best efforts to cause the Employee to be elected as a Director and shall include him in the management slate for election as a Director at every shareholders meeting at which his term as a Director would
otherwise expire. The Employee hereby agrees to offer to resign from the Board of Directors immediately upon termination of Employee’s employment. 
 (c) The principal place of employment of the Employee hereunder shall at all times during the Term be in the greater Cheshire, Connecticut area, or other locations acceptable to the Employee, in the Employee’s
sole discretion. 
 (d) Notwithstanding anything to the contrary herein, although the Employee shall provide services as a full time
employee, it is understood that the Employee, with 

 
notification to the Board of Directors, may (1) have non full-time academic appointments; (2) participate in professional activities; (3) be a
member of the scientific or medical advisory board or the board of Directors of, or act as a consultant to, other companies that do not directly compete with the Company; (4) publish academic articles; (5) support non-competing external
research programs; and (6) participate in community and/or philanthropic activities (collectively, “Permitted Activities”); provided, however, that such Permitted Activities do not interfere with the Employee’s duties to
the Company. 
  

	2.	Term of Employment. 

 The term of the
Employee’s employment under this Agreement (the “Term”) commences as of February 1, 2006 (the “Effective Date”) and shall end on the third anniversary thereof, unless sooner terminated pursuant to
Section 6, 7 or 8 of this Agreement. Notwithstanding the foregoing, unless notice is given by the Employee or the Company at least six months prior to the expiration of the Term of this Agreement (or at least six months prior to the expiration
of any extension hereof), the Term of the Agreement shall be automatically extended by one year from the date it would otherwise end (whether upon expiration of the original Term or any extension(s) thereof), unless sooner terminated pursuant to
Section 6, 7 or 8 hereof. 
  

	3.	Compensation and Benefits. 

 (a) As compensation for
services to be rendered pursuant to this Agreement, the Company agrees to pay the Employee, during the Term, an annual base salary of $490,000 as adjusted from time to time, which shall be not less than the Employee’s base salary in effect
immediately prior to the Effective Date (the “Base Salary”), payable in accordance with its regular payroll practices. The Employee’s Base Salary hereunder shall be reviewed at least annually thereafter during the Term of the
Agreement for increase in the discretion of the Board of Directors or the Compensation Committee of the Board of Directors. 
 (b) The
Company agrees that the Employee shall be eligible for an annual performance bonus from the Company with respect to each fiscal year of the Company that ends during the Term, pursuant to the Company’s management incentive bonus program in
effect from time to time. The amount of any such bonus shall be determined by the Board of Directors or the Compensation Committee of the Board of Directors in its discretion, consistent with the Company’s performance, the Employee’s
contribution to the Company’s performance and the provisions of any applicable incentive bonus program. It is anticipated that any incentive bonus program will include measurement of the Employee’s performance against pre-established
goals relating to personal contributions and Company successes. 
 (c) The Company agrees to grant to the Employee during the Term, at the
time of its usual annual, semi-annual, or other periodic general grant to employees for the applicable period, such options to purchase shares of the Company’s common stock, restricted shares of the Company’s common stock, and/or other
equity-based awards as the Board of Directors or the Compensation Committee of the Board of Directors shall 

  

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determine. In the event of the consummation of a Change in Control (as defined in Section 14) of the Company, all previously granted stock options and
other equity awards for which vesting schedule is based solely on passage of time and continuation of employment (“Time-Vesting Equity Awards”) shall vest immediately prior to such Change in Control and remain fully exercisable
through their original term with all rights. Further, in the event of the consummation of a Change in Control, all previously granted equity awards, other than the Time-Vesting Equity Awards, will vest based on the percentage of goals and objectives
achieved by the Employee and the Company as determined in good faith by the Board of Directors prior to such a Change in Control. 
 (d) The
Company shall pay or reimburse the Employee for all reasonable expenses actually incurred or paid by the Employee during the Term in the performance of services under this Agreement, upon presentation of expense statements or vouchers or such other
supporting information as it reasonably may require. 
 (e) During the Term, the Employee shall be eligible to participate in all qualified
and non-qualified savings and retirement plans, and all other compensation and benefit plans and programs, excluding change of control severance pay plans made generally available to the Company’s employees, but including welfare and fringe
benefit programs, that are generally available to other senior employees of the Company. 
 (f) During the Term, the Employee shall be
eligible for paid vacation of four (five if the Employee has been employed by the Company for more than five years) weeks per calendar year taken in accordance with the vacation policy of the Company. 
  

	4.	Confidentiality. 

 The Employee acknowledges to be
bound by the terms and conditions of the “Proprietary Information and Inventions Agreement” previously entered into with the Company. Employee and the Company agree that following termination of this Agreement for any reason,
confidentiality provisions of the Proprietary Information and Inventions Agreement shall be applicable only to material, non-public proprietary information of the Company. Notwithstanding any other provision of this Agreement, except with respect to
the immediately preceding sentence, the Employee shall continue to be bound by the terms of such Proprietary Information and Inventions Agreement which shall survive the termination of this Agreement in accordance with its terms. 
  

	5.	Non-Competition, Non-Solicitation and Non-Disparagement. 

 (a) During the Term, the Employee shall not (1) provide any services, directly or indirectly, to any other business or commercial entity without the consent of the Board of Directors, such consent not to be unreasonably withheld, or
(2) participate in the formation of any business or commercial entity without the consent of the Board of Directors, such consent not to be unreasonably withheld; provided, however, that nothing contained in this Section 5(a) shall be
deemed to prohibit the Employee from acquiring, solely as an investment, shares of capital stock (or other interests) of any corporation (or other entity) not exceeding 2% of such corporation’s (or other entity’s) then outstanding 

  

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shares of capital stock and provided, further, that nothing contained herein shall be deemed to limit the Employee’s Permitted Activities pursuant to
Section 1(d). 
 (b) If the Employee is terminated by the Company for Cause (as defined in Section 6(c)) or if the Employee
terminates this Agreement other than in accordance with Section 7 following a Constructive Termination or for Good Reason under Section 8 hereof, then for a period of one year following the date of termination or, if the Employee receives
Severance Payments in accordance with Sections 9(c) or Section 9(d), then for the period such Severance Payments are received, the Employee shall not anywhere in the United States (1) provide any services in the Company’s Field of
Interest (as defined in Section 14), directly or indirectly, to any other business or commercial entity, (2) participate in the formation of any business or commercial entity engaged primarily in the Company’s Field of Interest, or
(3) directly or indirectly employ, or seek to employ or secure the services in any capacity of, any person employed at that time by the Company or any of its Affiliates, or otherwise encourage or entice any such person to leave such employment,
or solicit or encourage any customer, consultant, independent contractor, or vendor of the Company to terminate or diminish its relationship with the Company; provided, however, that nothing contained in this Section 5(b) shall be deemed to
prohibit the Employee from acquiring, solely as an investment, shares of capital stock (or other interests) of any corporation (or other entity) in the Company’s Field of Interest not exceeding 2% of such corporation’s (or other
entity’s) then outstanding shares of capital stock and provided, further, that nothing contained herein shall be deemed to limit Employee’s Permitted Activities pursuant to Section 1(d). This Section 5(b) shall be subject to
written waivers that may be obtained by the Employee from the Company. 
 (c) At no time during the Term of this Agreement or thereafter will
Employee knowingly make any written or verbal untrue statement that disparages the Company or its Affiliates in communications with any customer, client or the public. 
 (d) If the Employee commits a breach, or threatens to commit a breach, of any of the provisions of this Section 5 or Exhibit A, the Company shall have the right and remedy to have the provisions of this
Agreement specifically enforced by any court having equity jurisdiction, it being acknowledged and agreed that any such breach or threatened breach will cause irreparable injury to the Company and that money damages may not provide an adequate
remedy to the Company. The Employee therefore agrees that the Company, in addition to any other remedies available to it, shall be entitled to preliminary and permanent injunctive relief against any breach or threatened breach by the Employee of any
of the provisions of this Section 5 or Appendix A, without having to post bond. 
 (e) If any of the covenants contained in this
Section 5 or Appendix A, or any part thereof, is hereafter construed to be invalid or unenforceable, the same shall not affect the remainder of the covenant or covenants, which shall be given full effect without regard to the invalid portions.

 (f) If any of the covenants contained in this Section 5 or Appendix A, or any part thereof, is held to be unenforceable because of
the duration or scope of such 

  

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provision or the area covered thereby, the parties agree that the court making such determination shall have the power to reduce the duration and/or area of
such provision and, in its reduced form, such provision shall then be enforceable. 
 (g) In the event that the courts of any one or more of
such states shall hold any such covenant wholly unenforceable by reason of the breadth of such scope or otherwise, it is the intention of the parties hereto that such determination not bar or in any way affect the Company’s right to the relief
provided above in the courts of any other states within the geographical scope of such other covenants, as to breaches of such covenants in such other respective jurisdictions, the above covenants as they relate to each state being, for this
purpose, severable into diverse and independent covenants. 
  

	6.	Termination by the Company. 

 The Company may
terminate the Employee as follows during the Term of this Agreement if any one or more of the following shall occur: 
 (a) The Employee
shall die during the Term; provided, however, that the Employee’s estate shall be entitled to receive the (1) Employee’s Base Salary through the date which is 90 days after the Employee’s date of death and (2) a pro-rata
annual performance bonus with respect to the fiscal year of the Company during which death occurs. Upon the Employee’s death, Time-Vesting Equity Awards previously granted to the Employee shall become immediately exercisable and remain
exercisable through their original terms with full rights as if the Employee’s employment had not terminated. All equity awards, other than the Time-Vesting Equity Awards, previously granted to the Employee will vest as determined in good faith
by the Board of Directors based on the percentage of goals and objectives achieved by the Employee and the Company. 
 (b) The Employee shall
become physically or mentally disabled so that the Employee is unable substantially to perform his services hereunder for (1) a period of 120 consecutive days, or (2) for shorter periods aggregating 180 days during any twelve-month period.
Notwithstanding such disability the Company shall continue to pay the Employee his Base Salary through the date of such termination. In addition, the Employee shall be entitled to a pro-rata annual performance bonus with respect to the fiscal year
of the Company during which such termination occurs. Upon termination for such disability, Time-Vesting Equity Awards previously granted to the Employee shall become immediately exercisable and remain exercisable through their original terms with
full rights as if the Employee’s employment had not terminated. All equity awards, other than the Time-Vesting Equity Awards, previously granted to the Employee will vest as determined in good faith by the Board of Directors based on the
percentage of goals and objectives achieved by the Employee and the Company. 
 (c) By the Company for Cause. If the Employee acts, or
fails to act, in a manner that provides Cause for termination, the Company may immediately terminate the Employee’s employment upon notice given by the Company to the Employee. For purposes of this Agreement, the term “Cause”
means (1) the Employee’s indictment for, or conviction of, a felony or other crime involving moral turpitude, or any crime or serious offense involving money or other property which constitutes a felony in the 

  

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jurisdiction involved, (2) the Employee’s willful and continual neglect or failure to discharge duties (including fiduciary duties),
responsibilities and obligations with respect to the Company hereunder; provided such neglect or failure remains uncured for a period of 30 days after written notice describing the same is given to the Employee; provided that isolated and
insubstantial neglect or failures shall not constitute Cause hereunder, (3) the Employee’s violation of any of the non-competition provisions of Section 5 hereof or the Employee’s breach of any confidentiality provisions
contained in Exhibit A hereto, or (4) any act of fraud or embezzlement by the Employee involving the Company or any of its Affiliates. All determinations of Cause for termination pursuant to this Section 6 shall be determined by the
Board of Directors, and shall require at least a two-thirds vote of the entire Board of Directors, excluding the participation of the Employee. 
  

	7.	Termination by the Employee. 

 The Employee may
terminate this Agreement on written notice to the Company in the event of a material breach of the terms of this Agreement by the Company and such breach continues uncured for 30 days after written notice of such breach is first given; provided,
however, it shall constitute the termination of this Agreement if such breach is for the payment of money and continues uncured for ten days after written notice of such breach is given. Such termination by Employee is deemed to follow a
“Constructive Termination” by Company. The Employee may also terminate this Agreement upon written notice to the Company if any one or more of the following shall occur, each of which is also deemed a “Constructive
Termination”: 
 (a) loss of any material duties or authority of the Employee, and such loss continues for 30 days after written
notice of such loss is given to the Company; 
 (b) a relocation of the Employee’s place of employment to a location beyond a 25-mile
radius of the Company’s office at 352 Knotter Drive, Cheshire, Connecticut 06410; 
 (c) a Prohibited Event occurs; provided that the
Employee gives written notice of termination within 90 days after such occurrence and such Prohibited Event is not remedied within 30 days of such notice. For this purpose, a “Prohibited Event” exists if: (1) the Employee is
not continuously nominated to be a member of the Board of Directors and Chief Executive Officer of the Company during the Term; (2) the Chief Executive Officer is not the highest ranking officer of the Company with the power to appoint and
remove all other employees of the Company; or (3) any senior employee officer is retained by the Company, or an offer is made to pay compensation to any senior employee of the Company, that in either case is unacceptable to the Employee, in his
reasonable judgment; 
 (d) the Company shall make a general assignment for benefit of creditors; or any proceeding shall be instituted by
the Company seeking to adjudicate it a bankrupt or insolvent, or seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief, or composition of it or its debts under any law relating to bankruptcy, insolvency or
reorganization or relief of debtors, or seeking entry of an order for relief or the appointment of a receiver, trustee, or other similar official for it or for any substantial 

  

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part of its property or the Company shall take any corporate action to authorize any of the actions set forth above in this subsection 7(d); 
 (e) an involuntary petition shall be filed or an action or proceeding otherwise commenced against the Company seeking reorganization, arrangement or
readjustment of the Company’s debts or for any other relief under the Federal Bankruptcy Code, as amended, or under any other bankruptcy or insolvency act or law, state or federal, now or hereafter existing and shall remain undismissed or
unstayed for a period of 30 days; 
 (f) a receiver, assignee, liquidator, trustee or similar officer for the Company or for all or any part
of its property shall be appointed involuntarily; or 
 (g) a material breach by the Company of any other material agreement with the
Employee and such breach continues uncured for 30 days after written notice of such breach is first, given; provided, however, it shall constitute the termination of this Agreement if such breach is for the payment of money and continues uncured for
ten days after written notice of such breach is first given. 
  

	8.	Termination Following a Change in Control. 

 In
addition to the above, during the period commencing on the six month anniversary of a Change in Control (as defined in Section 14) of the Company and ending on the three year anniversary of such Change in Control, except for subsections 8(b),
8(c), 8(d), 8(e) and 8(f) with respect to which the period shall commence immediately upon a Change in Control, the Employee may terminate this Agreement upon expiration of 90 days’ prior written notice if “Good Reason” exists
for the Employee’s termination. For this purpose, termination by the Employee for “Good Reason” shall mean a termination by the Employee of his employment hereunder following the occurrence, without his prior written consent,
of any of the following events, unless the Company fully cures all grounds for such termination within 30 days after the Employee’s notice: 
 (a) any material adverse change in the Employee’s authority, duties, titles or offices (including reporting responsibility), or any significant increase in the Employee’s business travel obligations, from those existing
immediately prior to the Change in Control or other material breach of this Agreement by Company; 
 (b) a relocation of the Employee’s
place of employment to a location beyond a 25-mile radius of the Company’s office at 352 Knotter Drive, Cheshire, Connecticut 06410; 
 (c) a material diminution of the Employee’s compensation and benefits provided for in Section 3; 
 (d) any failure by the
Company to continue in effect any compensation plan in which the Employee participated immediately prior to such Change in Control and which is material to the Employee’s total compensation, including but not limited to the Company’s stock
option, bonus and other plans or any substitute plans adopted prior to 

  

 -7- 

 
the Change in Control, unless an equitable arrangement (embodied in an ongoing substitute or alternative plan) has been made with respect to such plan, or
any failure by the Company to continue the Employee’s participation therein (or in such substitute or alternative plan) on a basis no less favorable to the Employee, both in terms of the amount of benefits provided and the level of the
Employee’s participation relative to other participants, as existed immediately prior to such Change in Control; 
 (e) any failure by
the Company to continue to provide the Employee with benefits substantially similar, taken as a whole, to those enjoyed by the Employee under any of the Company’s retirement, life insurance, medical, health and accident, or disability plans,
programs or arrangements in which the Employee was participating immediately prior to such Change in Control, the taking of any action by the Company which would directly or indirectly materially reduce any of such benefits or deprive the Employee
of any perquisite enjoyed by the Employee at the time of such Change in Control, or the failure by the Company to maintain a vacation policy with respect to the Employee that is at least as favorable as the vacation policy (whether formal or
informal) in place with respect to the Employee immediately prior to such Change in Control; or 
 (f) the failure of the Company to obtain
the assumption in writing of its obligation to perform this Agreement by any successor to all or substantially all of the assets of the Company upon a merger, consolidation, sale or similar transaction. 
  

	9.	Severance and Benefit Continuation. 

 (a)
Termination for Cause. If the Company terminates this Agreement for Cause pursuant to Section 6(c) hereof, or if the Employee terminates this Agreement other than in accordance with Section 7 following a Constructive Termination or
for Good Reason under Section 8 hereof, no severance or benefit continuation provisions shall apply, provided however that the Employee shall have the same opportunity to continue group health benefits at the Employee’s expense in
accordance with the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) as is available generally to other employees terminating employment with the Company. 
 (b) Termination for Death or Disability. In the event of termination of this Agreement pursuant to Section 6(a) or 6(b) by reason of the
death or disability of the Employee, in addition to the Base Salary payments and pro-rata annual performance bonus provided for in paragraph (a) or (b) of Section 6, as applicable, the Company shall continue to provide all benefits
subject to COBRA at its expense with respect to the Employee and his dependents for the maximum period provided by COBRA. 
 (c)
Involuntary Termination Other Than for Cause, Voluntary Termination Following Constructive Termination, or Non-Renewal by the Company. If (1) the Company terminates this Agreement other than pursuant to Section 6 hereof,
(2) the Employee terminates this Agreement in accordance with Section 7 following a Constructive Termination, or (3) at the end of the Term of this Agreement the Employee shall cease to be employed by the Company in the capacity of
Chief Executive Officer by reason of the Company’s decision not to continue to employ the Employee as Chief 

  

 -8- 

 
Executive Officer at least on terms substantially similar to those set forth herein (“Non-Renewal”), and in each case the termination of
employment does not occur within three years following the consummation of a Change in Control of the Company, then: 
 (i)
the Company shall pay the Employee two times the amount (the “Severance Payments”) equal to the sum of the Employee’s Base Salary at the time of his termination of employment plus the greater of (a) average bonus received
by the Employee for the two years preceding the year in which his termination of employment occurs or (b) the amount equal to the bonus target as determined by the Company’s Board of Directors or its Compensation Committee for the year in
which the termination of employment occurs. Such Severance Payment will be paid in equal portions in accordance with the Company’s normal payroll practices, over a two year period (the “Severance Period”); 
 (ii) all Company employee benefit plans and programs (including, but not limited to, the plans and programs set forth in
Section 3(e)), other than participation in any Company tax-qualified retirement plan, applicable to the Employee shall be continued for the Severance Period (or, if such benefits are not available, or cannot be provided due to applicable law,
the Company shall pay the Employee a lump sum cash amount equal to the after-tax economic equivalent thereof, provided that with respect to any benefit to be provided on an insured basis, such lump sum cash value shall be the present value of the
premiums expected to be paid for such coverage, and with respect to other benefits, such value shall be the present value of the expected cost to the Company of providing such benefits). In the case of all benefits subject to COBRA, the Company
shall continue to provide such benefits at its expense with respect to the Employee and his dependents for the maximum period provided by COBRA; and 
 (iii) all Time-Vesting Equity Awards previously granted to the Employee shall fully and immediately vest and become exercisable immediately prior to such termination of employment, and shall remain exercisable through
their original term with full rights as if the Employee’s employment had not terminated. All equity awards, other than the Time-Vesting Equity Awards, previously granted to the Employee will vest as determined in good faith by the Board of
Directors based on the percentage of goals and objectives achieved by the Employee and the Company. 
 (d) Involuntary Termination Other
Than for Cause, Voluntary Termination Following Constructive Termination or for Good Reason, or Non-Renewal by the Company, Upon a Change in Control. In the event (1) the Company terminates this Agreement other than pursuant to
Section 6 hereof, (2) the Employee terminates this Agreement for Good Reason under Section 8 hereof, or (3) there is a Non-Renewal by the Company, and in each case the termination of employment or the Non-Renewal occurs within
three years following the consummation of a Change in Control of the Company, then: 
 (i) the Company shall pay the Employee
a cash lump sum immediately upon such termination of employment equal to 3 times the Severance Payments; 
  

 -9- 

 (ii) all Company employee benefit plans and programs (including, but not limited to, the
plans and programs set forth in Sections 3(e), other than participation in any Company tax-qualified retirement plan, applicable to the Employee shall be continued for three years from the date of such termination of employment (or, if such benefits
are not available, or cannot be provided due to applicable law, the Company shall pay the Employee a lump sum cash amount equal to the after-tax economic equivalent thereof, provided that with respect to any benefit to be provided on an insured
basis, such lump sum cash value shall be the present value of the premiums expected to be paid for such coverage, and with respect to other benefits, such value shall be the present value of the expected cost to the Company of providing such
benefits). In the case of all benefits subject to COBRA, the Company shall continue to provide such benefits at its expense with respect to the Employee and his dependents for the maximum period provided by COBRA; and 
 (iii) all Time-Vesting Equity Awards previously granted to the Employee shall fully and immediately vest and become exercisable
immediately prior to such termination of employment, and shall remain exercisable through their original term with full rights as if the Employee’s employment had not terminated. All equity awards, other than the Time-Vesting Equity Awards,
previously granted to the Employee will vest as determined in good faith by the Board of Directors based on the percentage of achieved goals and objectives by the Employee and the Company. 
 (e) The payments provided in Section 9(c) and 9(d) are intended as enhanced severance for a termination by the Company or by the Employee in the
circumstances provided. As a condition of receiving such payments, the Employee shall first execute and deliver a general release of all claims against the Company, its Affiliates, agents and employees (other than any claims or rights pursuant to
this Agreement or pursuant to equity or employee benefit plans), in a form and substance reasonably satisfactory to the Company. 
 (f) It is
intended that this Agreement replace the Old Employment Agreement, and the parties accordingly agree that the Employee was not entitled to any compensation or acceleration of vesting and exercisability of any stock options or stock awards (or
similar equity rights) by virtue of the cancellation of the Old Employment Agreement, notwithstanding any provision thereof. 
  

	10.	Cooperation. 

 Following his termination of
employment, the Employee agrees to cooperate with, and assist, the Company to ensure a smooth transition in management and, if requested by the Company, will make himself available to consult during regular business hours at mutually agreed upon
times for up to a three month period thereafter. At any time 

  

 -10- 

 
following his termination of employment, the Employee will provide such information as the Company may reasonably request with respect to any Company-related
transaction or other matter in which the Employee was involved in any way while employed by the Company. The Employee further agrees, during the Term of this Agreement and thereafter, to assist and cooperate with the Company in connection with the
defense or prosecution of any claim that may be made against, or by, the Company or its Affiliates, in connection with any dispute or claim of any kind involving the Company or its Affiliates, including providing testimony in any proceeding before
any arbitral, administrative, judicial, legislative or other body or agency. The Employee shall be entitled to reimbursement for all properly documented expenses incurred in connection with rendering services under this Section, including, but not
limited to, reimbursement for all reasonable travel, lodging, meal expenses and legal fees, and, in addition, in the event the Employee is not receiving any Severance Payments under Section 9(c), the Employee shall be entitled to a per diem
amount for his services equal to twice his then most recent annualized Base Salary under this Agreement, divided by 240 (business days). 
  

	11.	Indemnification. 

 The Company shall indemnify the
Employee, to the maximum extent permitted by applicable law, against all costs, charges and expenses incurred or sustained by the Employee in connection with any action, suit or proceeding to which the Employee may be made a party by reason of being
an officer, Director, employee of the Company or of any subsidiary or Affiliate of the Company, or consultant pursuant to Section 10 above. The Company shall provide, at its expense, Directors and Officers insurance for the Employee in amounts
reasonably satisfactory to the Employee, to the extent such insurance is available at reasonable rates, which determination shall be made by the Board of Directors. 
  

	12.	Excise Tax. 

 If any payments or benefits made in
respect of this Agreement, or otherwise in respect of the Employee’s employment or termination of employment with the Company, become subject to the excise tax described in Section 4999 of the Internal Revenue Code of 1986 (or any
successor to such section) and exceed the safe harbor amount as provided therein by at least ten (10%) percent, the Company shall make a special payment to the Employee sufficient, on an after-tax basis (taking into account federal, state and
local income, employment and excise taxes and related interest and penalties), to put the Employee in the same position as would have been the case had no such excise taxes been applicable to any payments or benefits provided in this Agreement or
otherwise in respect of the Employee’s employment or termination of employment with the Company. Any such special payment shall be made prior to the time any excise tax is payable by the Employee (through withholding or otherwise). The
determination of whether any payment is subject to an excise tax and, if so, the amount to be paid by the Company to the Employee and the time of payment shall be made by an independent auditor selected jointly by the Company and the Employee and
paid by the Company, provided that the determination of any relevant tax authority shall ultimately govern if different from such auditor’s determination. Unless the Employee agrees otherwise in writing, the auditor 

  

 -11- 

 
shall be a nationally recognized public accounting firm that has not, during the two years preceding the date of its selection, acted in any way on behalf of
the Company or any of its Affiliates. If the Employee and the Company cannot agree on the firm to serve as the auditor under this Section, then the Employee and the Company shall each select one accounting firm and those two firms shall jointly
select the accounting firm to serve as the auditor. 
  

	13.	No Mitigation. 

 The Employee shall not be required
to mitigate the amount of any payment provided for hereunder by seeking other employment or otherwise, nor shall the amount of any payment provided for hereunder be reduced by any compensation earned by the Employee as the result of employment by
another employer after the date of termination of employment by the Company. 
  

	14.	Definitions. 

 As used herein, the following terms
have the following meaning: 
 (a) “Affiliate” means and includes any person, corporation or other entity controlling,
controlled by or under common control with the corporation in question. 
 (b) “Change in Control” means the occurrence of
any of the following events: 
 (i) Any Person, other than the Company, its affiliates (as defined in Rule 12b-2 under the
Exchange Act) or any Company employee benefit plan (including any trustee of such plan acting as trustee), is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing more than 40% of the combined voting
power of the then outstanding securities entitled to vote generally in the election of Directors (“Voting Securities”) of the Company, or 
 (ii) Individuals who constitute the Board of Directors of the Company (the “Incumbent Directors”) as of the beginning of any twenty-four month period (not including any period prior to the date of
this Agreement), cease for any reason to constitute at least a majority of the Directors. Notwithstanding the foregoing, any individual becoming a Director subsequent to the beginning of such period, whose election or nomination for election by the
Company’s stockholders was approved by a vote of at least two-thirds of the Directors then comprising the Incumbent Directors, shall be considered an Incumbent Director; or 
 (iii) Consummation by the Company of a recapitalization, reorganization, merger, consolidation or other similar transaction (a
“Business Combination”), with respect to which all or substantially all of the individuals and entities who were the beneficial owners of the Voting Securities immediately prior to such Business Combination (the “Incumbent
Shareholders”) do not, following consummation of all transactions intended to constitute part of such Business Combination, beneficially own, directly or indirectly, 50% or more of the Voting Securities of the corporation, business trust or
other entity resulting from or being the surviving entity in such Business Combination (the “Surviving Entity”), in 

  

 -12- 

 
substantially the same proportion as their ownership of such Voting Securities immediately prior to such Business Combination; or 
 (iv) Consummation of a complete liquidation or dissolution of the Company, or the sale or other disposition of all or substantially all of
the assets of the Company, other than to a corporation, business trust or other entity with respect to which, following consummation of all transactions intended to constitute part of such sale or disposition, more than 50% of the combined Voting
Securities is then owned beneficially, directly or indirectly, by the Incumbent Shareholders in substantially the same proportion as their ownership of the Voting Securities immediately prior to such sale or disposition. 
 For purposes of this definition, the following terms shall have the meanings set forth below: 
 (A) “Beneficial Owner” shall have the meaning set forth in Rule 13d-3 under the Exchange Act; 
 (B) “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended; and 
 (C) “Person” shall have the meaning as used in Sections 13(d) and 14(d) of the Exchange Act. 
 (c) “Company’s Field of Interest” means the primary businesses of the Company as described in the Company’s then most-recent
filings with the Securities and Exchange Commission during the Employee’s employment hereunder and as determined from time to time by the Board of Directors during the Term hereof and which shall be limited to businesses involving products or
product candidates directly or indirectly competitive to the Company’s products or product candidates with respect to which the Company prior to or on the date of Employee’s termination has commenced clinical trials or animal testing.

  

	15.	Representations by Employee. 

 The Employee
represents and warrants that he has full right, power and authority to execute the terms of this Agreement; this Agreement has been duly executed by the Employee and such execution and the performance of this Agreement by the Employee does not
result in any conflict, breach or violation of or default under any other agreement or any judgment, order or decree to which the Employee is a party or by which he is bound. The Employee acknowledges and agrees that any material breach of the
representations set forth in this Section will constitute Cause under Section 6. 
  

	16.	Arbitration. 

 Any controversy or claim arising out
of or relating to this Agreement or the breach thereof (including, without limitation, disputes under Title VII, the ADEA, the ADA and other state and federal discrimination or employment laws) shall be settled by arbitration in Connecticut, in
accordance with the employment dispute rules then existing 

  

 -13- 

 
of the American Arbitration Association, and judgment upon the award rendered may be entered in any court having jurisdiction thereof. The parties shall be
free to pursue any remedy before the arbitrator that they shall be otherwise permitted to pursue in a court of competent jurisdiction. The award of the arbitrator shall be final and binding. The costs of the American Arbitration Association and the
arbitrator will be borne equally by the Company and the Employee, subject to the provisions of Section 17. Nothing contained herein, however, shall limit the right of the Company or any of its Affiliates to seek equitable or other relief from
any court of competent jurisdiction for violation of any provision of Sections 4 and 5. 
  

	17.	Legal Costs. 

 If the Employee institutes any legal
action to enforce his rights under, or to recover damages for breach of, this Agreement, and the Employee prevails, he shall be entitled to recover from the Company any actual expenses for attorney’s fees and disbursements incurred by the
Employee. If any payment or benefits made to or in respect of the Employee pursuant to this Section 17 becomes subject to any tax, the Company shall make a special payment to the Employee sufficient, on an after-tax basis (taking into account
federal, state and local taxes and related interest and penalties), to put the Employee in the same position as would have been the case had no such taxes been applicable to any payments or benefits provided in this Section. 
  

	18.	Notices. 

 All notices, requests, consents and other
communications required or permitted to be given hereunder shall be in writing and shall be deemed to have been duly given if sent by private overnight mail service (delivery confirmed by such service), registered or certified mail (return receipt
requested and received), telecopy (confirmed receipt by return fax from the receiving party) or delivered personally, as follows (or to such other address as either party shall designate by notice in writing to the other in accordance herewith):

 If to the Company: 
 Thomas
I.H. Dubin, Esq. 
 Senior Vice President and General Counsel 
 Alexion Pharmaceuticals, Inc. 
 352 Knotter Drive 
 Cheshire, Connecticut 06410 
 Telephone:    (203) 272-2596 
 Fax:               (203) 271-8199 
 If to the Employee:

 Leonard Bell, M.D. 
 Alexion
Pharmaceuticals, Inc. 
 352 Knotter Drive 
 Cheshire, Connecticut 06410 
 Telephone:    (203) 272-2596 
 Fax:               (203) 271-8199 
  

 -14- 

	19.	General. 

 (a) This Agreement shall be governed by
and construed and enforced in accordance with the laws of the State of Connecticut applicable to agreements made and to be performed entirely in Connecticut by Connecticut residents. 
 (b) This Agreement sets forth the entire agreement and understanding of the parties relating to the subject matter hereof, and supersedes all prior
agreements, arrangements and understandings, written or oral, relating to the subject matter hereof. No representation, promise or inducement has been made by either party that is not embodied in this Agreement, and neither party shall be bound by
or liable for any alleged representation, promise or inducement not so set forth. 
 (c) This Agreement may be amended, modified, superseded,
canceled, renewed or extended, and the terms or covenants hereof may be waived, only by a written instrument executed by the parties hereto, or in the case of a waiver, by the party waiving compliance. The failure of a party at any time or times to
require performance of any provision hereof shall in no manner affect the right at a later time to enforce the same. No waiver by a party of the breach of any term or covenant contained in this Agreement, whether by conduct or otherwise, or any one
or more or continuing waivers of any such breach, shall constitute a waiver of the breach of any other term or covenant contained in this Agreement 
 (d) This Agreement shall be binding upon the legal representatives, heirs, distributees, successors and assigns of the parties hereto. The Company may not assign its rights and obligation under this Agreement without the prior written
consent of the Employee, except to a successor of substantially all the Company’s business which expressly assumes the Company’s obligations hereunder in writing. In the event of a sale of all or substantially all of the assets of the
Company, the Company shall use its best efforts to cause the purchaser to expressly assume this Agreement. The Employee may not assign, transfer, alienate or encumber any rights or obligations under this Agreement, except by will or operation of
law, provided that the Employee may designate beneficiaries to receive any payments permitted under the terms of the Company’s benefit plans. 
 (e) If any portion or provision of this Agreement shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder of this Agreement, or the application of such portion or provision in
circumstances other than those as to which it is so declared illegal or unenforceable, shall not be affected thereby, and each portion and provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law. 

 

 -15- 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.

  

			
	 ALEXION PHARMACEUTICALS, INC.

		
	 By:
	 	/s/ Alvin S. Parven
		 	Alvin S. Parven
		
	 By:
	 	 /s/ Leonard Bell

		 	 Leonard Bell, M.D.

  

 -16- 

 EXHIBIT A / APPENDIX A 
 References in this Agreement to “Exhibit A” or “Appendix A” mean the Proprietary Information and Inventions Agreement entered into between the Company and the Employee, as the same may have been or
may later be amended.

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