Document:

ASSIGNMENT AND ASSUMPTION OF PURCHASE AND SALE AGREEMENT

 Exhibit 4.21.2 
 Assignment and Assumption of Purchase and Sale Agreement 
 Wall Street Global Training
Center, Inc., as Assignor, hereby assigns all of its right, title and interest in and to that certain purchase and sale agreement dated as of October 4, 2011 by and between Sahn Eagle LLC, a Delaware limited liability company, as Seller, and
Assignor, as Buyer (the “Purchase and Sale Agreement”), to Best Work Holdings (New York) LLC, as Assignee. Assignee accepts the assignment and assumes all the obligations of the Purchase and Sale Agreement. 

 

					
	This October 26, 2011	 	ASSIGNOR:
		
		 	Wall Street Global Training Center, Inc.,
			
		 	By:	 	 /s/ Hua Lei

		 	Name:	 	Hua Lei
		 	Title:	 	Investment Director
		
		 	ASSIGNEE:
		
		 	Best Work Holdings (New York) LLC
			
		 	By:	 	 /s/ Hua Lei

		 	Name:	 	Hua Lei
		 	Title:	 	ManagerExhibit 10.49

 Exhibit 10.49 
 VANDA PHARMACEUTICALS INC. 

September 12, 2012 
 Dear
John: 
 This letter (the “Agreement”) confirms the agreement between you and Vanda Pharmaceuticals Inc. (the
“Company”) regarding the termination of your employment with the Company. 
 1. Termination Date. Your
employment with the Company will terminate on September 12, 2012 (the “Termination Date”). 
 2. Effective
Date and Revocation. You have up to 21 days after you receive this Agreement to review it (the “Release Deadline”). You are advised to consult an attorney of your own choosing (at your own expense) before signing this Agreement.
Furthermore, you have up to seven days after you sign this Agreement to revoke it. If you wish to revoke this Agreement after signing it, you may do so by delivering a letter of revocation to me. If you do not revoke this Agreement, the eighth day
after the date you sign it will be the “Effective Date.” Because of the seven-day revocation period, no part of this Agreement will become effective or enforceable until the Effective Date. 

3. Salary and Vacation Pay. The Company will pay you all of your salary earned through the Termination Date and all of your
accrued but unused vacation time (less all applicable withholding taxes and other deductions). You will receive this payment on the day following the Termination Date. You acknowledge that the only payments and benefits that you are
entitled to receive from the Company in the future are those specified in this Agreement. 
 4. Severance
Pay. Pursuant to Section 6 of your Employment Agreement with the Company dated May 22, 2009, as amended by that certain letter agreement dated December 16, 2010 (the “Employment Agreement”), if you sign this Agreement by
the Release Deadline, and do not revoke, this Agreement, the Company will: (a) pay you an amount equal to your current base monthly salary of $26,666.67 (less all applicable withholding taxes) for twelve (12) months following the
Termination Date and such severance pay shall be paid to you in accordance with the Company’s standard payroll procedures, starting on the Company’s first payroll date that occurs on or following the 61st day after the Termination Date (the aggregate amount of these
severance payments is equal to $320,000 (less all applicable withholding taxes)) and once said payments commence, they shall be retroactive to the Termination Date and; (b) pay you a lump sum payment of $128,000, less all applicable
withholdings, which equals your current Annual Target Bonus (as defined in the Employment Agreement) and such amount shall be payable to you on the Company’s first payroll date that occurs on or following the 61st day after the Termination Date. If you breach any provision of this
Agreement, you understand that no unpaid severance payments will be made to you; however, in such event this Agreement shall remain in full force and effect. 

 5. COBRA Premiums. You will receive information about your right to continue your
group health insurance coverage under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”) after the Termination Date. In order to continue your coverage, you must file the required election form. Pursuant to Section 6 of the
Employment Agreement, if you sign, and do not revoke, this Agreement and elect to continue group health insurance coverage, the Company will pay your monthly premium under COBRA for you and, if applicable, for your dependents until the earliest of
(a) the end of the period of twelve (12) months following the month in which the Termination Date occurs, (b) the expiration of your continuation coverage under COBRA or (c) the date when you are offered substantially equivalent
health insurance in connection with new employment or self-employment. You acknowledge that the payments provided for in this Section 5 may be considered taxable income to you. 

6. Additional Option Vesting and Extension of Exercise Period. The Company granted you one or more options to purchase shares of
its Common Stock, as set forth in the report attached hereto as Exhibit A (the “Options”). As of the Termination Date, you would have been vested in the number of shares set forth in Exhibit A. If you sign, and do not
revoke, this Agreement, you will become vested in additional shares as set forth in Exhibit A, effective as of the date immediately prior to the Termination Date. By their original terms, the Options would have been exercisable with respect to the
vested shares at any time until the date three months after the Termination Date. If you sign, and do not revoke, this Agreement, the Company will extend the post-termination exercise period applicable to the original vested shares and the
additional vested shares at any time that occurs (a) after the Effective Date and (b) not more than six (6) months after the Termination Date. The Options will expire with respect to the remaining unvested shares on the Termination
Date. You acknowledge, understand and agree that as a result of the extension of your Option as described herein, the Option will no longer qualify as incentive stock options under Section 422 of the Internal Revenue Code of 1986, as amended,
effective as of the date on which you sign this Agreement. You further acknowledge that, by the original terms of the Option, no additional shares would have vested. In all other respects, the Stock Option Agreements relating to the Options will
remain in full force and effect, and you agree to remain bound by those Agreements. Any other Stock Option Agreements between you and the Company will also remain in full force and effect. You acknowledge and agree that you have no stock rights in
the Company other than those enumerated in this paragraph. 
 7. Release of All Claims. In consideration for receiving
the severance benefits described in Paragraphs 4, 5 and 6 above, to the fullest extent permitted by law, you waive, release and promise never to assert any claims or causes of action, whether or not now known, against the Company or its
predecessors, successors or past or present subsidiaries, stockholders, directors, officers, employees, consultants, attorneys, agents, assigns and employee benefit plans with respect to any matter, including (without limitation) any matter related
to your employment with the Company or the termination of that employment, including (without limitation) claims relating to taxes incurred due to the severance benefits, claims to attorneys’

  
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fees or costs, claims of wrongful discharge, constructive discharge, emotional distress, defamation, invasion of privacy, fraud, breach of contract or breach of the covenant of good faith and
fair dealing and any claims of discrimination or harassment based on sex, age, race, national origin, disability or any other basis under Title VII of the Civil Rights Act of 1964 the District of Columbia Human Rights Act, Article 49B of the
Maryland Code, the Age Discrimination in Employment Act of 1967, the Americans with Disabilities Act and all other laws and regulations relating to employment. However, this release covers only those claims that arose prior to the execution of this
Agreement and only those claims that may be waived by applicable law. Execution of this Agreement does not bar any claim that arises hereafter, including (without limitation) a claim for breach of this Agreement. 

8. No Admission. Nothing contained in this Agreement will constitute or be treated as an admission by you or the Company of
liability, any wrongdoing or any violation of law. 
 9. Other Agreements. At all times in the future, you will remain
bound by your Confidential Information Agreement with the Company, which you signed on November 14, 2007, and a copy of which is attached as Exhibit B. Except as expressly provided in this Agreement and the Indemnification Agreement
between you and the Company dated as of May 22, 2009, this Agreement renders null and void all prior agreements between you and the Company and constitutes the entire agreement between you and the Company regarding the subject matter of this
Agreement. This Agreement may be modified only in a written document signed by you and a duly authorized officer of the Company. 
 10. Company Property. You represent that you have returned to the Company all property that belongs to the Company, including (without limitation) copies of documents that belong to the Company and
files stored on your computer(s) that contain information belonging to the Company. 
 11. Confidentiality of Agreement.
You agree that you will not disclose to others the existence or terms of this Agreement, except that you may disclose such information to your spouse, attorney or tax adviser if such individuals agree that they will not disclose to others the
existence or terms of this Agreement. 
 12. No Disparagement. You agree that you will never make any negative or
disparaging statements (orally or in writing) about the Company or its stockholders, directors, officers, employees, products, services or business practices, except as required by law. 

13. Severability. If any term of this Agreement is held to be invalid, void or unenforceable, the remainder of this Agreement will
remain in full force and effect and will in no way be affected, and the parties will use their best efforts to find an alternate way to achieve the same result. 
 14. Choice of Law. This Agreement will be construed and interpreted in accordance with the laws of the District of Columbia (other than their choice-of-law provisions). 

  
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 15. Execution. This Agreement may be executed in counterparts, each of which will be
considered an original, but all of which together will constitute one agreement. Execution of a facsimile copy will have the same force and effect as execution of an original, and a facsimile signature will be deemed an original and valid signature.

 Please indicate your agreement with the above terms by signing below. 

 

			
	Very truly yours,
	
	VANDA PHARMACEUTICALS INC.
		
	By:	 	 /s/ Mihael H. Polymeropoulos

		 	Mihael H. Polymeropoulos, M.D.
		 	Chief Executive Officer

 I agree to the terms of this Agreement, and I am voluntarily signing this release of all claims. I acknowledge that
I have read and understand this Agreement, and I understand that I cannot pursue any of the claims and rights that I have waived in this Agreement at any time in the future. 

 

			
	 /s/    John J. Feeney
III        

	Signature of John Feeney
		
	Dated:	 	 September 18, 2012

  
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 EXHIBIT A 

OPTIONS 
  

													
	 Grant Date
	  	Options vested
as
of
Termination
Date	 	  	Additional options
vested under Section
6(d) of
Employment
Agreement	 	  	Total vested options
(including additional
options under 
Section
6(d))	 
	 11/29/2007
	  	 	20,000	  	  	 	—  	  	  	 	20,000	  
	 1/4/2008
	  	 	1,250	  	  	 	—  	  	  	 	1,250	  
	 9/19/2008
	  	 	14,687	  	  	 	313	  	  	 	15,000	  
	 5/22/2009
	  	 	77,187	  	  	 	5,938	  	  	 	83,125	  
	 12/17/2009
	  	 	46,666	  	  	 	4,375	  	  	 	51,041	  
	 12/16/2010
	  	 	23,437	  	  	 	3,516	  	  	 	26,953	  
	 12/6/2011
	  	 	10,546	  	  	 	3,516	  	  	 	14,062	  
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 
	 TOTAL
	  	 	193,773	  	  	 	17,658	  	  	 	211,431	  
		  	  
	  
	 	  	  
	  
	 	  	  
	  
	 

 EXHIBIT B 

CONFIDENTIAL INFORMATION AGREEMENT

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