Document:

exv10w16

 

Exhibit 10.16

“[ * ]” = confidential portions of this document that have been omitted and have been separately

filed with the Securities and Exchange Commission pursuant to an application for confidential

treatment under Rule 24b-2 under the Securities Exchange Act of 1934, as amended.

AMENDMENT NO. 3 TO AMENDED AND RESTATED PROMOTION AGREEMENT

     This Amendment No. 3 (this “Amendment”), entered into as of this 19th day
of April, 2005 and effective as of the 1st day of January, 2005 (the “Effective
Date”), is made by and among Wyeth, a Delaware corporation (formerly American Home Products
Corporation, “Wyeth”), Amgen Inc., a Delaware corporation (“Amgen”), and Immunex
Corporation, a Washington corporation and wholly-owned subsidiary of Amgen (“Immunex”) and
amends the Amended and Restated Promotion Agreement dated as of December 16, 2001 which became
effective on July 15, 2002, as amended by Amendment No. 1 to Collaboration and Global Supply
Agreement, Amended and Restated Promotion Agreement, and TNFR License and Development Agreement
effective as of July 8, 2003 among Wyeth, Amgen and Immunex and by Amendment No. 2 to Collaboration
and Global Supply Agreement and Amended and Restated Promotion Agreement effective as of April 20,
2004 among Wyeth, Amgen and Immunex (as amended, the “Promotion Agreement”).

Recitals

     WHEREAS, Wyeth, Amgen and Immunex entered into the Promotion Agreement pursuant to which the
parties set forth certain terms and conditions relating to the promotion of Enbrel in the United
States and Canada; and

     WHEREAS, the parties wish to amend certain portions of the Promotion Agreement to agree to
share costs for certain full time equivalents employed by Wyeth and Amgen performing medical
affairs functions pursuant to the terms and conditions of the Promotion Agreement, all on the terms
and conditions set forth in this Amendment.

Agreement

     NOW, THEREFORE, in consideration of the mutual covenants, promises, and agreements contained
herein, and intending to be legally bound hereby, as of the Effective Date, Immunex, Wyeth and
Amgen agree as follows:

 

 

Article 1

Promotion Agreement

     1.1     Capitalized Terms and Amendment. All capitalized terms used in this Article 1 but
not otherwise defined in this Amendment shall have the meanings assigned to them in the Promotion
Agreement. Wyeth, Amgen and Immunex hereby amend the Promotion Agreement as follows in this
Article 1.

     1.2     Medical Affairs FTEs. A new Section 1.35a shall be inserted into the Promotion
Agreement as follows:

1.35a.     “Medical Affairs FTE” shall mean a total of [ * ] employee
hours per year of work relating to (a) medical strategic consultation, scientific
strategic consultation, medical review of promotional materials, medical review of
publication planning, and medical work on clinical trial design; (b) responses to
medical inquiries; and (c) implementation and execution of clinical programs,
including, without limitation, managing contract research organizations, collecting
and analyzing clinical trial data, collecting safety information, managing
investigator relationships, and collating information into manuscripts, abstracts,
posters, review articles, or other publications. All such work shall be carried out
by employees of a Party having the appropriate expertise to conduct such activities.

     1.3     Responsibilities of the EMC. The following new sentences shall be added to the
end of Section 3.2 of the Promotion Agreement: “Beginning in 2005, the EMC shall also agree
annually in advance of each Calendar Year on the number of Medical Affairs FTEs whose cost shall be
shared as set forth in Section 6.2; provided, however, that the number of Medical Affairs FTEs in
any given Calendar Year shall not exceed [ * ]. The EMC shall also determine which of Wyeth and
Amgen shall employ the Medical Affairs FTEs and the scope of responsibility for each of the Medical
Affairs FTEs. [ * ] Each Party shall have the right to monitor and evaluate on a quarterly
basis the performance of each Medical Affairs FTE employed by another Party. No other full time
equivalent costs for work performed by any Party in furtherance of marketing and promotional
activities in the Territory shall be shared by the Parties. Wyeth and/or Amgen may propose to the
EMC that the Agreement be amended to provide for sharing of additional full time equivalent costs,
but no such cost sharing shall take effect unless set forth in a written amendment to this
Agreement.”

     1.4     Expenses for Medical Affairs FTEs. The heading for Article 6 of the Promotion
Agreement shall be stricken and replaced with the following heading: “COMMERCIAL

 

 

EXPENSES AND COSTS FOR MEDICAL AFFAIRS FTES.” A new Section 6.2 shall be inserted into the
Promotion Agreement as follows:

	 	6.2  	Medical Affairs FTEs. Wyeth and Immunex shall share
equally all reasonable costs of Medical Affairs FTEs which are approved by the
EMC as set forth in Section 3.2 in an amount not to exceed the sum of [ * ]
per Medical Affairs FTE. Reconciling payments for Medical Affairs FTEs shall
be made within thirty (30) days following the end of each Calendar Quarter at
the same time as reconciling payments are made for Commercial Expenses as set
forth in Section 6.1(c).

     1.5     Post-Market Launch Commercial Expenses. Due to the addition of a new sentence at
the end of Section 3.2 of the Promotion Agreement, the phrase, “the last sentence of Section 3.2”
within Section 6.1(c)(2) of the Promotion Agreement shall be replaced with the phrase “ the third
sentence of Section 3.2”.

Article 2

Miscellaneous

     2.1     Further Assurances. Each party hereto shall execute and deliver such additional
documents and take all such further action as may be necessary or desirable to comply with and
ensure that Amgen, Immunex and Wyeth each receive the full benefit of this Amendment.

     2.2     Headings. The headings contained in this Amendment are for reference purposes
only and shall not affect in any way the meaning or interpretation of this Amendment.

     2.3     Severability. If any term or other provision of this Amendment is invalid,
illegal or incapable of being enforced by any rule of law or public policy, all other conditions
and provisions of this Amendment shall nevertheless remain in full force and effect so long as the
economic or legal substance of the transactions contemplated hereby is not affected in any manner
materially adverse to any party. Upon such determination that any term or other provision is
invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith
to modify this Amendment so as to effect the original intent of the parties as closely as possible
in an acceptable manner to the end that transactions contemplated hereby are fulfilled to the
extent possible.

     2.4     Effect of Amendment. In the event of any conflict between the terms of this
Amendment and the Promotion Agreement, the terms of this Amendment shall control. Except as
modified by the terms of this Amendment, the terms and provisions of the Promotion Agreement shall
remain in full force and effect.

 

 

     2.5     Counterparts. This Amendment may be executed in one or more counterparts, and by
the different parties hereto in separate counterparts, each of which when executed shall be deemed
to be an original but all of which taken together shall constitute one and the same agreement.

 

 

     IN WITNESS WHEREOF, the parties have caused this Amendment to be duly executed by persons duly
authorized as of the date first above written.

	 	 	 	 	 
	 	WYETH

 	 
	 	                                              /s/ William M. Haskel
 	 
	 	By: William M. Haskel 	 
	 	Title:  	Vice President and Associate General
Counsel 	 
	 
	 	IMMUNEX CORPORATION

 	 
	 	                                              /s/ Laura Hamill
 	 
	 	By: Laura Hamill 	 
	 	Title:  	Vice President, General Manager Inflammation 	 
	 
	 	AMGEN INC.

 	 
	 	                                              /s/ Laura Hamill
 	 
	 	By: Laura Hamill 	 
	 	Title:  	Vice President, General Manager Inflammation 	 
	 

 

 

EXHIBIT 3

FIRST ORDER

(Attached)

 

 

EXHIBIT 4

SECOND ORDER

(Attached)exv10w1

 

Exhibit 10.1

March 31, 2005

Mr. Norman A. McKay

Res Seminario 112

20090 Segrate (MI)

Italy

Dear Nori:

This letter summarizes Hanover Compressor Company’s offer to you to serve as the Company’s Vice
President –Eastern Hemisphere based in Milan, Italy, effective May 16, 2005. In this role, you
will report to the President and CEO.

In this role, your compensation and the other terms and conditions of employment are set by the
Company’s board of directors. Initial compensation for this position is as follows.

	 	 	 
	Base Salary:

	 	$275,000.00 annual base salary for the remainder of 2005, on a pro-rata basis ($10,576.92 per pay period for
26 pay periods per full year).
	 
	 	 
	Bonus Opportunity:

	 	0 – 50% of annual base salary to be paid annually based upon personal performance as well as Company
performance, and as determined by the Company’s board of directors. You must be an active employee on the date
the bonus is distributed to receive any bonus award.
	 
	 	 
	Sign on Bonus:

	 	$50,000 payable within 30 days of employment.
	 
	 	 
	Benefits:

	 	You will be an employee of Hanover International SA and will receive an international benefits package
covering housing, schooling, auto, travel, medical and other benefits. You will be entitled to up to 28 days
of vacation per year.
	 
	 	 
	Equity Incentive

Program:

	 	Subject to Board approval in May 2005, the Company will grant to you 10,000 restricted shares of Company
common stock, which will vest at the rate of 33 1/3 % per year over a 3-year period and will otherwise be
subject to the provisions of the 2003 Stock Incentive Plan. In addition, provided that you remain continually
employed by the Company in a role substantially similar to that described herein, you will be given the full
opportunity to participate in the stock, incentive, retirement and other plans offered to the most senior
officers of the Company as allowed under the terms of those plans.
	 
	 	 
	Cooperation:

	 	We ask that you agree to act at all times in a manner consistent with the interests of Hanover Compressor
Company and its subsidiaries and affiliated entities with respect to our shareholders, customers, employees,
agents, and lenders. Neither you nor the Company will defame or disparage each other. You further agree that
should your employment end, you will provide reasonable cooperation to the Company in response to reasonable
requests made by the Company for information or assistance, including but not limited to, participating upon
reasonable notice in conferences and meetings, providing documents or information, aiding in the analysis of
documents, or complying with any other reasonable requests by the Company including execution of any
agreements that are reasonably necessary.
	 
	 	 
	Confidential

Information:

	 	During your employment you will be given access to information relating to the business and

 

 

	 	 	 
	

	 	affairs of Hanover Compressor Company and its subsidiaries and affiliated
entities, including, without limitation, trade secrets, designs, technology,
processes, data, techniques, inventions (whether patentable or not), works of
authorship, formulas, business and development plans, customer lists, software
programs and subroutines, source and object code, algorithms, terms of
compensation and personnel assessments of employees, information regarding the
Company’s facilities, processes, operating procedures, financial data,
purchasing practices, marketing, management procedures, books and records,
employee or personnel data, contractual arrangements or proposals, properties
and business affairs of the Hanover entities, as well as the Company’s
business plans and budgets, information concerning the Company’s actual or
anticipated business, research or development, and may receive information in
confidence by or for any of the Hanover entities from any other person
(collectively “Confidential Information”). We ask that you agree that you
will not, at any time, directly or indirectly, for any reason whatsoever, with
or without cause, except in the appropriate course of Company business or
unless pursuant to a lawful subpoena, disclose or disseminate any Confidential
Information to any person or entity, nor will you use any Confidential
Information in competing with Hanover Compressor Company or its affiliated
entities in any manner. It is expressly understood that the Confidential
Information covered by this paragraph includes only information that is
confidential or proprietary information of one or more of the Hanover entities
and therefore does not include information which is generally available to the
public.
	 
	 	 
	Start Date:

	 	Your new position with the Company will become effective on
May 16, 2005.
	 
	 	 
	Entire Agreement:

	 	This letter contains the entire agreement between you and the Company concerning the subject matter hereof
and supersedes any prior or contemporaneous agreements between you and the Company, and cannot be changed,
modified, or amended without a written agreement signed by the Company and you.
	 
	 	 
	Successors and
Assigns:

	 	This agreement shall be binding upon you, your heirs, successors, and assigns and the Company and its
successors and assigns.
	 
	

	 	The Company may assign its rights, duties and obligations under this
agreement. However, your rights, duties and obligations are personal and
therefore shall not be transferred or assigned by you to another.

Your acceptance of this offer can be confirmed by signing the acceptance below and returning a copy
to my attention.

We are very pleased to extend this offer to you.

Sincerely,

Hanover Compressor Company

	 	 	 	 	 
	By:

	 	/s/ JOHN E. JACKSON	 	 
	 	 	 
	 
	 	 	 	 
	Name:

	 	John E. Jackson	 	 
	Title:

	 	President and CEO	 	 

	 	 	 	 	 
	Accepted:

	 	/s/ NORMAN A. MCKAY
	 	Date: April 15, 2005
	 	 	 
	 
	 	 	 	 
	Name:

	 	Norman A. McKay

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