Document:

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                                                                     EXHIBIT 4.6

     THIS NOTE IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER
     REFERRED TO AND IS REGISTERED IN THE NAME OF A NOMINEE OF THE DEPOSITARY.
     THIS NOTE IS NOT EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A
     PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE EXCEPT IN THE LIMITED
     CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND NO TRANSFER OF THIS NOTE
     (OTHER THAN A TRANSFER OF THIS NOTE AS A WHOLE TO THE DEPOSITARY OR A
     NOMINEE OF THE DEPOSITARY OR TO ANOTHER NOMINEE OF THE DEPOSITARY) MAY BE
     REGISTERED EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.

     THIS NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING
     THIS NOTE) IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND
     IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I)
     THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO
     LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, (II) EXCEPT AS OTHERWISE
     PROVIDED IN THE INDENTURE, THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT
     NOT IN PART PURSUANT TO SECTION 2.07 OF THE INDENTURE, (III) THIS GLOBAL
     NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION
     2.11 OF THE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A
     SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY.

     UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
     DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE MANITOWOC
     COMPANY, INC. OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR
     PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO.
     OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
     DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS
     REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
     OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
     INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
     HEREIN.

<Page>

                          THE MANITOWOC COMPANY, INC.

                   10 1/2 % Senior Subordinated Note due 2012

                                                      $________ Principal Amount

CUSIP No. ___________

No. __

          THE MANITOWOC COMPANY, INC., a Wisconsin corporation (the "COMPANY",
which term includes any successor under the Indenture hereinafter referred to),
for value received, promises to pay to CEDE & CO., or its registered assigns,
the principal sum of $___________ on August 1, 2012.

          Interest Payment Dates: February 1 and August 1, commencing February
1, 2003.

          Regular Record Dates: January 15 and July 15.

          Reference is hereby made to the further provisions of this Note set
forth on the reverse hereof, which further provisions shall for all purposes
have the same effect as if set forth at this place.

                                        2
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          IN WITNESS WHEREOF, the Company has caused this Note to be signed
manually by its duly authorized signatories.

                                        THE MANITOWOC COMPANY, INC.

                                        By:
                                            -----------------------------------
                                            Name:
                                            Title:

                    (Trustee's Certificate of Authentication)

          This is one of the 10 1/2 % Senior Subordinated Notes due 2012
described in the within-mentioned Indenture.

Date: _______, 2002

                                        BNY MIDWEST TRUST COMPANY, as Trustee

                                        By:
                                            -----------------------------------
                                            Authorized Signatory

                                        3
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                             {REVERSE SIDE OF NOTE}

                           THE MANITOWOC COMPANY, INC.

                   10 1/2 % Senior Subordinated Note due 2012

1.   PRINCIPAL AND INTEREST.

          The Company shall pay the principal of this Note on August 1, 2012.

          The Company promises to pay interest on the principal amount of this
Note on each Interest Payment Date, as set forth below, at the rate per annum
shown above.

          Interest will be paid semi-annually in arrears on each Interest
Payment Date, commencing February 1, 2003. Interest on this Note will accrue
from the latest date to which interest has been paid on the Notes or, if no
interest has been paid, the Issue Date; PROVIDED, HOWEVER, that any accrued and
unpaid interest on the Initial Notes (as defined in the Indenture) for which
this Notes was exchanged shall be deemed to have accrued with respect to, and
shall be paid with respect to, this Note. Interest will be computed on the basis
of a 360-day year of twelve 30-day months.

          The Company shall pay interest on overdue principal and premium, if
any, and interest on overdue installments of interest, to the extent lawful, at
a rate per annum that is the then applicable interest rate borne by the Notes.

2.   METHOD OF PAYMENT.

          The Company shall pay interest on the principal amount of the Notes on
each February 1 and August 1 to the persons who are Holders of the relevant
Notes on the January 15 or July 15, as the case may be, immediately preceding
such Interest Payment Date (as reflected in the Register at the close of
business on the Regular Record Date), in each case, even if the Note is canceled
on registration of transfer or registration of exchange after such record date.
The Company shall make payments of principal on the Notes to Holders that
surrender Notes to the Paying Agent.

          If a Holder has given wire transfer instructions to the Paying Agent
at least 15 days prior to any payment, the Company shall make all principal,
premium and interest payments on the Notes owned by such Holder in accordance
with those instructions. All other payments on the Notes shall be made by check
mailed to the Holders at their address set forth in the register of Holders, or
in the case of the final payment of principal and interest, if any, on any Note,
upon presentation and surrender of such Note at the office of the Paying Agent.
All payments on the Notes will be made in Dollars.

3.   PAYING AGENT AND REGISTRAR.

          Initially, the Company has appointed the corporate trust office of the
Trustee located at the address set forth in Section 13.02 of the Indenture as
Paying Agent.

                                        4
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4.   INDENTURE; LIMITATIONS.

          The Company issued the Notes under an Indenture dated as of August 8,
2002 (the "INDENTURE"), among the Company, the Guarantors named therein and BNY
Midwest Trust Company, as trustee (the "TRUSTEE"). Capitalized terms herein are
used as defined in the Indenture unless otherwise indicated. This Note is one of
a duly authorized issue of Notes of the Company designated as its 10 1/2 %
Senior Subordinated Notes due 2012 (the "UNRESTRICTED NOTES"). The Unrestricted
Notes are initially being issued in the aggregate principal amount of
$_________. The Company shall be entitled to issue Additional Notes pursuant to
Section 2.14 of the Indenture (the "ADDITIONAL NOTES"). The Notes include the
Initial Notes and the Unrestricted Notes. The Initial Notes, the Additional
Notes and the Unrestricted Notes are treated as a single class of securities
under the Indenture. The terms of the Notes include those stated in the
Indenture and those made part of the Indenture by reference to the Trust
Indenture Act. The Notes are subject to all such terms, and Holders are referred
to the Indenture and the Trust Indenture Act for a statement of all such terms.
To the extent permitted by applicable law, in the event of any inconsistency
between the terms of this Note and the terms of the Indenture, the terms of the
Indenture shall control. This is one of the Notes referred to in the Indenture.
The Notes are unsecured.

5.   REDEMPTION.

          OPTIONAL REDEMPTION. Except as described below, the Notes are not
redeemable before August 1, 2007. Thereafter, the Company may redeem the Notes
at its option, in whole or in part, upon not less than 30 nor more than 60 days'
notice to the Holders, at the following redemption prices (expressed as
percentages of the principal amount thereof) if redeemed during the twelve-month
period commencing on August 1 of the years set forth below:

<Table>
<Caption>
     Year                                                   Percentage
     ----                                                   ----------
     <S>                                                      <C>
     2007.................................................    105.250%
     2008.................................................    103.500%
     2009.................................................    101.750%
     2010 and thereafter..................................    100.000%
</Table>

          In addition, the Company must pay accrued and unpaid interest on the
Notes redeemed.

          OPTIONAL REDEMPTION UPON PUBLIC EQUITY OFFERINGS. At any time, or from
time to time, on or prior to August 1, 2005, the Company may, at its option, use
the net cash proceeds of one or more Public Equity Offerings (as defined below)
to redeem up to 35% of the principal amount of the Notes (including any
Additional Notes) outstanding under the Indenture at a redemption price of
110.500% of the principal amount thereof plus accrued and unpaid interest
thereon, if any, to the date of redemption; PROVIDED that:

          (1)   at least 65% of the principal amount of Notes (including any
     Additional Notes) outstanding under the Indenture remains outstanding
     immediately after any such redemption; and

                                        5
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          (2)   the Company makes such redemption not more than 90 days after
     the consummation of any such Public Equity Offering.

          "PUBLIC EQUITY OFFERING" means an underwritten public offering of
Qualified Capital Stock of the Company pursuant to a registration statement
filed with the Commission in accordance with the Securities Act.

          In the event that the Company chooses to redeem less than all of the
Notes, selection of the Notes for redemption will be made by the Trustee either:

          (1)   in compliance with the requirements of the principal national
     securities exchange, if any, on which the Notes are listed; or,

          (2)   on a PRO RATA basis, by lot or by such method as the Trustee
     shall deem fair and appropriate.

          No Notes of a principal amount of $1,000 or less shall be redeemed in
part. If a partial redemption is made with the proceeds of a Public Equity
Offering, the Trustee will select the Notes only on a PRO RATA basis or on as
nearly a PRO RATA basis as is practicable (subject to the Depositary's
procedures, if any).

          Notice of any optional redemption will be mailed at least 30 days but
not more than 60 days before the redemption date to each Holder of Notes to be
redeemed at its last address as it appears in the Register. On and after the
Redemption Date, interest ceases to accrue on Notes or portions of Notes called
for redemption so long as the Company has deposited with the Paying Agent funds
in satisfaction of the Redemption Price pursuant to the terms of the Indenture,
unless the Company defaults in the payment of the Redemption Price. The Trustee
may select for redemption portions of the principal amount of the Notes that
have denominations equal to $1,000 integral multiples thereof in accordance with
Section 3.03 of the Indenture.

6.   REPURCHASE UPON CHANGE IN CONTROL.

          Upon the occurrence of a Change of Control, each Holder shall have the
right, subject to the terms and conditions set forth in the Indenture, to
require the Company to repurchase its Notes in cash pursuant to the offer
described in the Indenture at a purchase price equal to 101% of the principal
amount thereof, plus accrued and unpaid interest to the date of purchase (the
"CHANGE OF CONTROL PAYMENT").

          A notice of such Change of Control will be mailed within 30 days after
any Change of Control occurs to each Holder at its last address as it appears in
the Register and to the Trustee. The notice to the Holders shall contain all
instructions and materials necessary to enable such Holders to tender Notes
pursuant to the Change of Control Offer. Such notice shall state:

          (1)   that the Change of Control Offer is being made pursuant to
     Section 4.11 of the Indenture and that all Notes tendered will be accepted
     for payment;

                                        6
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          (2)   the purchase price (including the amount of accrued interest)
     and the purchase date (which shall be no earlier than the Change of Control
     Payment Date);

          (3)   that any Note not tendered will continue to accrue interest if
     interest is then accruing;

          (4)   that, unless the Company defaults in making payment therefor,
     any Note accepted for payment pursuant to the Change of Control Offer shall
     cease to accrue interest after the Change of Control Payment Date;

          (5)   that Holders electing to have a Note purchased pursuant to a
     Change of Control Offer will be required to surrender the Note, with the
     form entitled "Option of Holder to Elect Purchase" on the reverse of the
     Note completed, to the Paying Agent at the address specified in the notice
     prior to the close of business on the third business day prior to the
     Change of Control Payment Date;

          (6)   that Holders will be entitled to withdraw their election if the
     Paying Agent receives, not later than 5:00 p.m., New York City time, on the
     second Business Day preceding the Change of Control Payment Date, a
     telegram, telex, facsimile transmission or letter setting forth the name of
     the Holder, the principal amount of the Notes the Holder delivered for
     purchase and a statement that such Holder is withdrawing his election to
     have such Note purchased; and

          (7)   the circumstances and relevant facts regarding such Change of
     Control.

7.   SUBORDINATION.

          The Notes are subordinated to Senior Debt of the Company. To the
extent provided in the Indenture, Senior Debt of the Company must be paid before
the Notes may be paid. The Company agrees, and each Holder by accepting a Note
agrees, to the subordination provisions contained in the Indenture and
authorizes the Trustee to give it effect and appoints the Trustee as
attorney-in-fact for such purpose.

8.   DENOMINATIONS; TRANSFER; EXCHANGE.

          The Notes are in registered form without coupons in denominations of
$1,000 principal amount and multiples of $1,000 in excess thereof. A Holder may
register the transfer or exchange of Notes in accordance with the Indenture. The
Registrar may require a Holder, among other things, to furnish appropriate
endorsements and transfer documents and to pay any taxes and fees required by
law or permitted by the Indenture.

9.   PERSONS DEEMED OWNERS.

          A Holder shall be treated as the owner of a Note for all purposes.

                                        7
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10.  UNCLAIMED MONEY.

          If money deposited with the Trustee or any Paying Agent for the
payment of principal, premium (if any) or interest remains unclaimed for two
years, the Trustee and each such Paying Agent shall pay such money back to the
Company upon written request of the Company. Following such repayment to the
Company, Holders of the Notes entitled to such payment must look to the Company
for such payment unless applicable abandoned property law designates another
Person and all liability of the Trustee and such Paying Agent shall cease. Other
than as set forth in this paragraph, the Indenture does not provide for any
prescription period for the payment of principal, premium (if any) and interest
on the Notes.

11.  DISCHARGE PRIOR TO REDEMPTION OR MATURITY.

          If the Company deposits with the Trustee money or U.S. Government
Obligations sufficient to pay the then outstanding principal of and accrued
interest on the Notes to redemption or maturity, the Company and the Guarantors
will be discharged from the Indenture, the Notes and the Guarantees except in
certain circumstances set forth in the Indenture.

12.  LEGAL DEFEASANCE AND COVENANT DEFEASANCE.

          The Company and each Guarantor may be discharged from their
obligations under the Indenture, the Notes and the Guarantees except for certain
provisions thereof, and the Company may be discharged from its obligations to
comply with certain covenants contained therein, in each case upon satisfaction
of certain conditions specified in the Indenture.

13.  AMENDMENT; SUPPLEMENT; WAIVER.

          Subject to certain exceptions, the Indenture, the Notes and the
Guarantees may be amended or supplemented with the consent of the Holders of at
least a majority in principal amount of the Notes then outstanding, and any
existing default or compliance with any provision may be waived with the consent
of the Holders of at least a majority in principal amount of the Notes then
outstanding. Without notice to or the consent of any Holder, the parties thereto
may amend or supplement the Indenture, the Notes and the Guarantees to, among
other things, cure any ambiguity, defect or inconsistency. Certain modifications
will require the consent of each Holder affected thereby.

14.  RESTRICTIVE COVENANTS.

          The Indenture imposes certain limitations on the ability of the
Company and its Restricted Subsidiaries, among other things, to incur additional
Indebtedness, make Restricted Payments, use the proceeds from Asset Sales,
engage in transactions with Affiliates and, in the case of the Company and the
Guarantors, to merge, consolidate or transfer substantially all of its assets.

                                        8
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15.  SUCCESSOR PERSONS.

          When a successor person or other entity assumes all the obligations of
its predecessor under the Notes and the Indenture, the predecessor person will
be released from those obligations.

16.  DEFAULTS AND REMEDIES.

          If an Event of Default (other than an Event of Default specified in
clause (a)(6) or (a)(7) of Section 6.01 of the Indenture that occurs with
respect to the Company) occurs and is continuing, the Trustee by notice to the
Company, or the Holders of at least 25% in aggregate principal amount of the
Notes then outstanding under the Indenture by notice to the Company and the
Trustee, may declare the principal of, premium, if any, and accrued interest, if
any, on all Notes to be due and payable. If an Event of Default specified in
clause (a)(6) or (a)(7) of Section 6.01 occurs and is continuing with respect to
the Company, such amount with respect to all the Notes shall, IPSO FACTO, become
and be immediately due and payable without any declaration or other act on the
part of the Trustee or any Holders. Holders may not enforce the Indenture, the
Notes or the Guarantees except as provided in the Indenture. The Trustee may
require indemnity satisfactory to it before it enforces the Indenture, the Notes
or the Guarantees. Subject to certain limitations, Holders of at least a
majority in principal amount of the Notes then outstanding may direct the
Trustee in its exercise of any trust or power.

17.  TRUSTEE DEALINGS WITH COMPANY.

          Subject to the Trust Indenture Act, the Trustee under the Indenture,
in its individual or any other capacity, may make loans to, accept deposits from
and perform services for the Company or its Affiliates and may otherwise deal
with the Company or its Affiliates as if it were not the Trustee.

18.  NO RECOURSE AGAINST OTHERS.

          No recourse for the payment of the principal of, premium, if any, or
interest on any of the Notes or the Guarantees, or for any claim based thereon
or otherwise in respect thereof, and no recourse under or upon any obligation,
covenant or agreement of the Company contained in the Indenture, in any of the
Notes or the Guarantees, or because of the creation of any Indebtedness
represented thereby, shall be had against any incorporator or against any past,
present or future partner, shareholder, other equityholder, officer, director,
employee, management board member, supervisory board member or controlling
person, as such, of the Company, the Guarantors or of any successor Person,
either directly or through the Company or any successor Person, whether by
virtue of any constitution, statute or rule of law, or by the enforcement of any
assessment or penalty or otherwise.

19.  AUTHENTICATION.

          This Note shall not be valid until the Trustee or authenticating agent
signs the certificate of authentication on the other side of this Note.

                                        9
<Page>

20.  ABBREVIATIONS.

          Customary abbreviations may be used in the name of a Holder or an
assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the
entireties), JT TEN (= joint tenants with right of survivorship and not as
tenants in common), CUST (= Custodian) and U/G/M/A (= Uniform Gifts to Minors
Act).

          The Company shall furnish to any Holder upon written request and
without charge a copy of the Indenture. Requests may be made to The Manitowoc
Company, Inc., 500 South 16th Street, Manitowoc, Wisconsin 54220.

21.  CHOICE OF LAW.

          The laws of the State of New York shall govern the Indenture and this
Note without regard to conflicts of laws principles thereof.

                                       10
<Page>

                                ASSIGNMENT FORM

I or we assign and transfer this Note to

---------------------------------------------------------------------------

---------------------------------------------------------------------------
(Print or type name, address and zip code of assignee or transferee)

---------------------------------------------------------------------------
(Insert Company Registration, Social Security or other identifying number of
assignee or transferee)

and irrevocably appoint ___________________________________________________
agent to transfer this Security on the books of the Company.  The agent may
substitute another to act for him.

Dated:                             Signed:
      --------------------                ---------------------------------
                                                (Sign exactly as name appears on
                                                the other side of this Note)

Signature Guarantee:
                    -------------------------------------------------------
                            Participant in a recognized Signature Guarantee
                            Medallion Program (or other signature guarantor
                            program reasonably acceptable to the Trustee)

                                       11
<Page>

                       OPTION OF HOLDER TO ELECT PURCHASE

          If you wish to have this Note purchased by the Company pursuant to
Section 4.10 or Section 4.11 of the Indenture, check the box:   [     ]

          If you wish to have a portion of this Note purchased by the Company
pursuant to Section 4.10 or Section 4.11 of the Indenture, state the amount (in
principal amount): $_________.

Date:
      --------------------

Your Signature:

--------------------------------------------------------------------------------
       (Sign exactly as your name appears on the other side of this Note)

Signature Guarantee:
                     ------------------------------

                                       12
<Page>

                                   SCHEDULE A
                          SCHEDULE OF PRINCIPAL AMOUNT
                     OF INDEBTEDNESS EVIDENCED BY THIS NOTE

          The initial principal amount of indebtedness evidenced by this Note
shall be $___________. The following decreases/increases in the principal amount
of indebtedness evidenced by this Note have been made:

<Table>
<Caption>
                                                                     Total Principal
                                                                     Amount of
                        Decrease in            Increase in           Indebtedness
                        Principal Amount       Principal Amount      Evidenced              Notation Made
Date of                 of Indebtedness        of Indebtedness       Following Such         by or on Behalf of
Decrease/Increase       Evidenced              Evidenced             Decrease/Increase      Trustee
-----------------       ----------------       -----------------     -----------------      ------------------
<S>                     <C>                    <C>                   <C>                    <C>

</Table>

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EXHIBIT 10.16    
  

 
 

EMPLOYMENT AGREEMENT    
  

        THIS EMPLOYMENT AGREEMENT (this "Agreement"), as of the date signed, is between Array Biopharma, Inc., a Delaware corporation (the "Company"), and John
Moore, Esq. ("Employee"). 

        In
consideration of the mutual covenants and agreements contained herein, the parties hereto agree as follows: 

        1.    Employment.    The Company hereby employs Employee and Employee hereby agrees to be employed by the Company for
the period and upon the terms and conditions hereinafter set forth. 

        2.    Capacity and Duties.    Employee shall initially be employed by the Company in such executive capacity as the
officers or directors of the Company shall determine. During his employment Employee shall perform the duties and bear the responsibilities commensurate with his position and shall serve the Company
faithfully and to the best of his ability, under the direction of the board of directors and the duly elected officers of the Company. Employee shall devote his entire working time, attention and
energies to the business of the Company. His actions shall at all times be such that they do not discredit the Company or its products and services. Employee shall not engage in any other business
activity or activities that, in the judgment of the board of directors, may conflict with the proper performance of Employee's duties hereunder, including constituting a conflict of interest between
such activity and the Company's business. 

        3.    Compensation.    

        (a)  For
all services rendered by Employee the Company shall pay Employee during the term of this Agreement an annual salary as set forth herein, payable semimonthly in
arrears. Employee's initial annual salary shall be $205,000. During the term of this Agreement, the amount of Employee's salary shall be reviewed at periodic intervals and, upon agreement of the
parties hereto, appropriate
adjustments in such salary may be made. In addition, Employee shall be eligible for performance bonuses on an annual or more frequent basis, as determined by, and at the discretion of the Company. 

        (b)  Employee
shall receive an award of options to purchase 50,000 shares of the Company's common stock (the "Options") within 30 days of the effective date of this
Agreement. The Options will be incentive stock options under Section 422 of the Internal Revenue Code (the "Code") to the extent permitted under Section 422(d) of the Code. The Options
shall be governed by an option agreement (the "Option Agreement") and the Company's Amended and Restated Stock Option and Incentive Plan, as amended (the "Stock Option Plan"). The Option Agreement
shall provide that the Options shall become exercisable upon vesting, and shall vest in tranches of 12,500 shares each at the completion of each year of the term of this Agreement. The exercise price
of the Options shall be the fair market value of the Company's common stock on the date of grant. In the event of termination of employment, Employee's exercise of the Options, and any termination of
the Options, shall be governed by the Option Agreement and the Stock Option Plan. 

        (c)  In
addition to salary payments as provided in Section 3(a), the Company shall provide Employee, during the term of this Agreement, with the benefits of such
insurance plans, hospitalization plans and other employee fringe benefit plans as shall be generally provided to employees of the Company and for which Employee may be eligible under the terms and
conditions thereof. Nothing herein contained shall require the Company to adopt or maintain any such employee benefit plans. 

        (d)  During
the term of this Agreement, except as otherwise provided in Section 5(b), Employee shall be entitled to sick leave and annual vacation consistent with the
Company's customary sick leave and vacation policies. 

 

        (e)  During
the term of this Agreement the Company shall reimburse Employee for all reasonable out-of-pocket expenses incurred by Employee in
connection with the business of the Company and in the performance of his duties under this Agreement upon presentation to the Company of an itemized accounting of such expenses with reasonable
supporting data. The Company shall reimburse Employee for his and his family's reasonable expenses in moving from Potomoc Falls, Virginia to the Boulder, Colorado metropolitan area ("Boulder"), which
expenses shall include moving costs for Employee's and Employee's immediate family's personal property from Employee's principal residence in Potomoc Falls to Employee's new principal residence in
Boulder, and closing costs associated with the purchase of a primary residence in Boulder for up to one year after the effective date of this Agreement, in an amount not to exceed $80,000. In
addition, the Company will reimburse Employee for reasonable costs for transportation, lodging and meals for a maximum of three days to and from Boulder for
house-hunting, which expenses shall not be counted against Employee's relocation allowance provided in the preceding sentence. Such expenses shall be paid upon presentation to the Company
of an itemized accounting of such expenses with reasonable supporting data. 

        4.    Term.    Unless sooner terminated in accordance with Section 5, the term of this Agreement shall be two
years from the date of this Agreement, and thereafter shall continue for one year terms from year to year unless and until either party shall give notice to the other at least 60 days prior to
the end of the original or then current renewal term of his or its intention to terminate at the end of such term. The provisions of Sections 6, 7, 8 and 10 shall remain in full force and effect for
the time periods specified in such Sections notwithstanding the termination of this Agreement. 

        5.    Termination/Severance.    

        (a)  If
Employee dies during the term of this Agreement, the Company shall pay his estate the compensation that would otherwise be payable to him for the month in which his
death occurs, this Agreement shall be considered terminated on the last day of such month and the Company shall cause any issued but unvested options granted to Employee to immediately vest. 

        (b)  If
during the term of this Agreement Employee is prevented from performing his duties by reason of illness or incapacity for a continuous period of 120 days the
Company may terminate this Agreement upon 30 days' prior notice thereof to Employee or his duly appointed legal representative. For the purposes of this Section 5(b), a period of illness
or incapacity shall be deemed "continuous" notwithstanding Employee's performance of his duties during such period for continuous periods of less than 15 days in duration. 

        (c)  The
Company may terminate this Agreement at any time, upon 10 days' prior notice, for Employee's 1) gross negligence; 2) a material breach of any
obligation created by this Agreement; 3) a violation of any policy, procedure or guideline of the Company, or any material injury to the economic or ethical welfare of the Company caused by
Employee's malfeasance, misfeasance, misconduct or inattention to Employee's duties and responsibilities, or any other material failure to comply with the Company's reasonable performance
expectations, upon notice of same from Company and failure to cure such violation, injury or failure within 30 days; or 4) misconduct, including but not limited to, commission of any
felony, or of any misdemeanor involving dishonesty or moral turpitude, or violation of any state or federal law in the course of his employment; theft or misuse of the Company's property or time. 

        (d)  The
Company may terminate this Agreement at any time for any or no reason upon 30 days' notice to Employee. 

        (e)  If
this Agreement is terminated by the Company prior to the end of the term pursuant to any provision other than 5(a) or 5(c), then (i) the Company shall pay to
Employee one year's annual salary, or the amount due Employee through the remainder of the term, whichever is 

2

 

greater, in equal monthly installments, subject to all applicable deductions and withholdings; and (ii) the Company shall cause any issued but unvested options granted to Employee to
immediately vest. In the event of (x) reduction of Employee's salary to a rate below the initial annual salary; or (y) consolidation or merger involving the Company in which the Company
is not the surviving entity or any transaction in which more than 50% of the Company's voting power is transferred or more than 50% of the Company's assets are sold (collectively, a "Change in
Control"), Employee may elect to treat such event, by notice of termination within 30 days of its occurrence, as a termination pursuant to 5(d); provided, that any accelerated vesting pursuant
to subparagraph (ii) caused by such notice of termination as a result of the occurrence of events described in subparagraph (y) shall cause no more than 75% of all outstanding options
granted to Employee to vest. 

        (f)    If
a Change in Control occurs, 75% of all outstanding options granted to Employee as of such event shall immediately vest (to the extent they are not already vested),
and the remainder of all outstanding options granted to Employee as of such event shall vest one year from the date of the closing of such event if Employee remains in continuous service with the
Company for one year from such closing date; provided, that any termination of Employee pursuant to Paragraph (5)(d) within the first year after a Change in Control occurs shall cause the
remaining 25% options outstanding as of the Change in Control to immediately vest. The foregoing acceleration provision shall be supplementary to, and shall not diminish any rights that Employee has
under, any other written agreement with the Company, including an option certificate or agreement. 

        6.    Confidential Information.    This Agreement incorporates by reference all the terms of that certain Confidential
Information Agreement as of the date hereof between Employee and the Company, as if fully set forth herein. 

        7.    Confidentiality; Noncompete.    This Agreement incorporates all the terms of that certain Noncompete Agreement
and Confidentiality and Inventions Agreement as of the date signed between Employee and the Company, as if fully set forth herein. 

        8.    Waiver of Breach.    A waiver by the Company of a breach of any provision of this Agreement by Employee shall
not operate or be construed as a waiver of any subsequent breach by Employee. 

        9.    Severability.    It is the desire and intent of the parties that the provisions of this Agreement shall be
enforced to the fullest extent permissible under the laws and public policies applied in each jurisdiction in which enforcement is sought. Accordingly, if any particular provision or portion of this
Agreement shall be adjudicated to be invalid or unenforceable, this Agreement shall be deemed amended to delete therefrom the portion thus adjudicated to be invalid or unenforceable, such deletion to
apply only with respect to the operation of this Section in the particular jurisdiction in which such adjudication is made. 

        10.    Notices.    All communications, requests, consents and other notices provided for in this Agreement shall be in
writing and shall be deemed given if mailed by first class mail, postage prepaid, addressed as follows: i) If to the Company: to its principal office at 3200 Walnut Street, Building
AC-4, Boulder, Colorado 80301; ii) If to Employee: to 11384 High Brook Court, Potomac Falls, Virginia, 20165; or such other address as either party may hereafter designate by notice
as herein provided. Notwithstanding the foregoing provisions of this Section 10, so long as Employee is employed by the Company any such communication, request, consent or other notice shall be
deemed given if delivered as follows: if to the Company, by hand delivery to any executive officer of the Company (other than Employee), and if to Employee, by hand delivery to him. 

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        11.    Governing Law.    This Agreement shall be governed by and construed and enforced in accordance with the laws of
the State of Colorado without regard to choice of law provisions thereof, and the parties each agree to exclusive jurisdiction in the state and federal courts in Colorado. 

        12.    Assignment.    The Company may assign its rights and obligations under this Agreement to any affiliate of the
Company or to any acquirer of substantially all of the business of the Company, and all covenants and agreements hereunder shall inure to the benefit of and be enforceable by or against any such
assignee. Neither this Agreement nor any rights or duties hereunder may be signed or delegated by Employee. 

        13.    Entire Agreement.    This Agreement sets forth the entire agreement and understanding of the parties and
supersedes all prior understandings, agreements or representations by or between the parties, whether written or oral, which relate in any way to the subject matter hereof. 

        14.    Amendments.    No provision of this Agreement shall be altered, amended, revoked or waived except by an
instrument in writing signed by the party sought to be charged with such amendment, revocation or waiver. 

        15.    Binding Effect.    Except as otherwise provided herein, this Agreement shall be binding upon and shall inure to
the benefit of the parties hereto and their respective legal representatives, heirs, successors and assigns. 

        ***Signature
Page Follows*** 

4

 

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

	 	 	THE COMPANY:
	

 	
 	

ARRAY BIOPHARMA, INC.
	

 	
 	

By:	
 	

/s/  LESLIE EWING      

	 	 	Name:	 	Leslie Ewing

	 	 	Title:	 	HR Generalist

	

 	
 	
EMPLOYEE:
	

 	
 	

 	
 	

/s/  JOHN MOORE 3/4/02      
 John Moore

5

  

 
 

NONCOMPETE AGREEMENT    
  

        This NONCOMPETE AGREEMENT (this "Agreement"), dated as of March 4, 2002, is between Array BioPharma Inc., a Delaware corporation (the "Company"),
which for the purposes hereof shall include any subsidiary or affiliate of the Company, and John Moore, Esq. (the "Employee"). 

        RECITALS

        A.    Employee
is or may be employed in an executive, management or professional capacity for the Company. 

        B.    The
Employee desires to enter into or continue in the employment (as the case may be) of the Company. 

        C.    In
order to protect the trade secrets and confidential information of the Company and as a condition to employment or the continued employment (as the case may be) of
Employee, the Company requires that Employee enter into this Agreement. 

        NOW
THEREFORE, in consideration of Employee's employment with the Company and of the mutual covenants and agreements contained herein and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

        AGREEMENT

        1.    Covenants Not to Compete or Interfere.    

        (a)  During
the term of Employee's employment with the Company and for a period of 24 months thereafter, and regardless of the reason for Employee's termination,
Employee shall not, within the United States or within a 50 mile radius of any area where the Company is doing business (including any point of sale of the Company's products or services) at the time
of such termination, directly or indirectly own, manage, operate, control, be employed by, serve as a consultant to or otherwise participate in any business that has services or products competitive
with those of the Company, or develop products or services competitive with those of the Company. For purposes of this Agreement, businesses with products and services competitive with those of the
Company shall be limited to those companies that provide medicinal chemistry products and services for the purpose of drug discovery. For the purposes of this Agreement, the Company considers only
those companies listed on Exhibit A hereto as competitive with the Company as of the date of this Agreement. 

        (b)  During
the term of Employee's employment with the Company and for a period of 24 months thereafter, and regardless of the reason for Employee's termination,
Employee shall not (i) cause or attempt to cause any employee of the Company to leave the employ of the Company, (ii) actively recruit any employee of the Company to work for any
organization of, or in which Employee is an officer, director, employee, consultant, independent contractor or owner of an equity interest; or (iii) solicit, divert or take away, or attempt to
take away, the business or patronage of any client, customer or account, or prospective client, customer or account, of the Company which were contacted, solicited or served by Employee while employed
by the Company. 

        (c)  Employee
acknowledges that through his employment with the Company he will acquire access to information suited to immediate application by a business in competition
with the Company. Accordingly, Employee considers the foregoing restrictions on his future employment or business activities in all respects reasonable. Employee specifically acknowledges that the
Company and its licensees, as well as the Company's competitors, provide their services throughout the geographic area specified in Section 1(a) above. Employee therefore specifically consents
to the foregoing geographic restriction on competition and believes that such a restriction is reasonable, given the scope of the Company's business and the nature of Employee's position with the
Company. 

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        (d)  Employee
acknowledges the following provisions of Colorado law, set forth in Colorado Revised Statutes § 8-2-113(2): 

Any
covenant not to compete which restricts the right of any person to receive compensation for performance of skilled or unskilled labor for any employer shall be void, but this subsection
(2) shall not apply to: 

	(a)
	Any
contract for the purchase and sale of a business or the assets of a business;

	(b)
	Any
contract for the protection of trade secrets;

	(c)
	Any
contract provision providing for the recovery of the expense of educating and training an employee who has served an employer for a period of less than two years;

	(d)
	Executive
and management personnel and officers and employees who constitute professional staff to executive and management personnel. 

Employee
acknowledges that this Agreement is a contract for the protection of trade secrets under § 8-2-113(2)(b), and is intended to protect the confidential
information and trade secrets of the Company, and that Employee is an executive and management employee or professional staff to executive or management personnel, within the meaning of §
8-2-113(2)(d). 

        2.    No Employment Contract; Termination.    This Agreement is not an employment contract and by execution hereof the
parties do not intend to create an employment contract. Employee's obligations under Paragraph 1(a) herein shall terminate, and the term of Employee's obligations under Paragraph 1(b)
shall be reduced to 12 months post-termination, if Employee is terminated by the Company without cause or through no fault of Employee, including convenience of the Company, layoff,
or incapacity; provided, however, that, in each such case, if Employee receives severance pay or consulting income from the Company, at the annual rate of least 80% of Employee's salary at the time of
termination, then Employee's obligations under Paragraph 1(a) shall continue for the period that he receives such severance pay or consulting income (the "Severance Period"), and the term of
his obligations under Paragraph 1(b) shall be tolled during the Severance Period. Notwithstanding the foregoing, in the event that Employee is terminated for incapacity, Employee's obligations
under Paragraph 1(a) and 1(b) shall fully revive, assuming Employee's incapacity is removed, upon the Company's offer to Employee of a comparable position with the Company, at not less than
Employee's salary at the time of termination. If, through no fault of Employee, the Company liquidates substantially all of its assets, or permanently terminates its operations, Employee's obligations
under Paragraphs 1(a) and 1(b) shall also terminate. 

        3.    Injunctive Relief; Damages.    Upon a breach or threatened breach by Employee of any of the provisions of this
Agreement, the Company shall be entitled to an injunction restraining Employee from such breach without posting a bond. Nothing herein shall be construed as prohibiting the Company from pursuing any
other remedies for such breach or threatened breach, including recovery of damages from Employee. 

        4.    Attorney's Fees.    In any action to enforce any of the provisions of this Agreement, the prevailing party shall
be entitled to reasonable attorneys' fees and costs of investigation and litigation. 

        5.    Severability.    It is the desire and intent of the parties that the provisions of this Agreement shall be
enforced to the fullest extent permissible under the law. Accordingly, if any provision of this Agreement shall prove to be invalid or unenforceable, the remainder of this Agreement shall not be
affected thereby, and in lieu of each provision of this Agreement that is illegal, invalid or unenforceable, there shall be added as a part of this Agreement a provision as similar in terms to such
illegal, invalid or unenforceable provision as may be possible and be legal, valid and enforceable. In the event that a court finds any portion of Section 1 to be overly broad, and therefore
unenforceable, the 

7

 

parties intend that the court shall modify such portion of paragraph 1 to reflect the maximum restraint allowable, and shall enforce this Agreement and the covenants herein as so modified. 

        6.    Entire Agreement; Governing Law.    This Agreement embodies the entire Agreement between the parties concerning
the subject matter hereof and replaces and supersedes any prior or contemporaneous negotiations, oral representations, agreements or understandings among or attributable to the parties hereto. The
provisions of this Agreement shall not limit or otherwise affect Employee's obligations under the provisions of any agreement with the Company with respect to the nondisclosure of the Company's
confidential information. This Agreement and all performances hereunder shall be governed by and construed in accordance with the laws of the State of Colorado. 

        7.    Consent to Jurisdiction.    All judicial proceedings brought against Employee arising out of or relating to this
Agreement may be brought in any state or federal court of competent jurisdiction in this State of Colorado, and by execution and delivery of this Agreement, Employee accepts the nonexclusive
jurisdiction of the aforesaid courts and waives any defense of forum non convenient and irrevocably agrees to be bound by any judgment rendered thereby in connection with this Agreement. 

        8.    Waiver of Jury Trial.    Employee and the Company hereby agree to waive their respective rights to a jury trial
of any claim or cause of action based upon or arising out of this Agreement. The scope of this waiver is intended to be all encompassing of any and all disputes that may be filed in any court and that
relate to the subject matter of this Agreement, including without limitation, contract claims, tort claims, breach of duty claims, and all other common law and statutory claims. Employee and the
Company warrant and represent that each has reviewed this waiver with its legal counsel and that each knowingly and voluntarily waives its jury trial rights following consultation with legal counsel.
In the event of litigation, this Agreement may be filed as a written consent to a trial by the court. 

        9.    Amendments; Waiver.    This Agreement may not be altered or amended, and no right hereunder may be waived,
except by an instrument executed by each of the parties hereto. No waiver of any term, provision, or condition of this Agreement, in any one or more instances, shall be deemed to be or construed as a
further or continuing waiver of any such term, provision or condition or as a waiver of any other term, provision or condition of this Agreement. 

        10.    Assignment.    The Company may assign its rights and obligations under this Agreement to any subsidiary or
affiliate of the Company or to any acquirer of substantially all of the business of the Company, and all covenants and Agreements hereunder shall inure to the benefit of and be enforceable by or
against any such assignee. Neither this Agreement nor any rights or duties hereunder may be assigned or delegated by Employee. 

        11.    Binding Effect.    Except as otherwise provided herein, this Agreement shall be binding upon and shall inure to
the benefit of the parties hereto and their respective legal representatives, heirs, successors and assigns. 

8

 

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

	COMPANY:	 	ARRAY BIOPHARMA INC.,
 a Delaware corporation
	

 	
 	

By:	
 	

/s/  LESLIE EWING      

	 	 	Its:	 	HR Generalist

	

EMPLOYEE:	
 	

 	
 	

/s/  JOHN MOORE 3/4/02      
 John Moore

9

  

 
 

Exhibit A to Moore Noncompete Agreement    
  

	1.
	Albany
Molecular Research, Inc.

	2.
	Arqule, Inc.

	3.
	Discovery
Partners International, Inc.

	4.
	Pharmacopoeia, Inc.

	5.
	Tripos, Inc.

	6.
	3-Dimensional
Pharmaceuticals, Inc 

10

QuickLinks

EXHIBIT 10.16

EMPLOYMENT AGREEMENT

NONCOMPETE AGREEMENT

Exhibit A to Moore Noncompete Agreement

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