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Exhibit 10.1    
  

 
 

AMENDED AND RESTATED EMPLOYMENT AGREEMENT    
  

        THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT (the "Amended Agreement") is made and entered into effective as of
June 1, 2002, by and between MAXIM PHARMACEUTICALS, INC., (the "Company") and DALE A.
SANDER ("Employee"). The Company and Employee are hereinafter collectively referred to as the "Parties," and individually referred to as a "Party." 

 
 

RECITALS    
  

        A.    Employee and the Company entered into a certain Employment Agreement dated November 16, 2001 wherein Employee
served as Senior Vice President, Finance, Chief Financial Officer and Corporate Secretary of the Company. 

        B.    Employee and the Company have determined that Employee shall resign from his position as Senior Vice President, Finance,
Chief Financial Officer and Corporate Secretary of the Company, effective as of June 1, 2002. 

        C.    The Company wishes to retain Employee as an employee in the position of Vice President, Corporate Development under the
terms of this Amended Agreement. 

        D.    Employee desires to be in the employ of the Company, and is willing to accept such employment on the terms and conditions
set forth in this Amended Agreement. 

 
 

AGREEMENT    
  

        In consideration of the foregoing recitals and the mutual promises and covenants herein contained, and for other good and valuable consideration, the Parties,
intending to be legally bound, agree as follows: 

1.    EMPLOYMENT  

        1.1    Term.    The Company hereby employs Employee, and Employee hereby accepts employment by the Company, upon the
terms and conditions set forth in this Amended Agreement, effective as of the date first set forth above ("Effective Date"). This Amended Agreement shall continue in effect until terminated pursuant
to Section 4 below. 

        1.2    Position.    Employee shall be the Vice President, Corporate Development and shall serve in such other capacity
or capacities as the Company's Chief Executive Officer ("CEO") may from time to time prescribe. 

        1.3    Duties.    Employee shall do and perform all services, acts or things necessary or advisable to manage and
conduct the business of the Company and which are normally associated with the position of Vice President, Corporate Development consistent with the Bylaws of the Company and as required or directed
by the CEO. 

        1.4    Policies and Practices.    The employment relationship between the Parties shall be governed by the policies
and practices established by the Company and the Board. The Employee acknowledges that he has read the Company's Employee Handbook, which governs the terms and conditions of his employment with the
Company, along with this Amended Agreement. In the event that the terms of this Amended Agreement differ from or are in conflict with the Company's policies or practices or the Company's Employee
Handbook, this Amended Agreement shall control. 

1

 

        1.5    Location.    Unless the Parties otherwise agree in writing, during the term of this Amended Agreement, Employee
shall perform the services he is required to perform pursuant to this Amended Agreement at the Company's offices, located at 8899 University Lane, Suite 400, San Diego, CA 92122 or at any other place
at which the Company maintains an office; provided, however, that the Company may from time to time require Employee to travel temporarily to other locations in connection with the Company's business. 

2.    LOYAL AND CONSCIENTIOUS PERFORMANCE; NONCOMPETITION  

        2.1    Loyalty.    During Employee's employment by the Company, Employee shall devote his full business energies,
interest, abilities and productive time to the proper and efficient performance of his duties under this Amended Agreement. 

        2.2    Covenant Not to Compete.    During the term of this Amended Agreement, Employee shall not engage in competition
with the Company, either directly or indirectly, in any manner or capacity, as adviser, principal, agent, partner, officer, director, employee, member of any association or otherwise, in any phase of
the business of developing, manufacturing and marketing of products which are in the same field of use or which otherwise compete with the products or proposed products of the Company. 

        2.3    Agreement not to Participate in Company's Competitors.    During Employee's employment with the Company and any
period in which Employee is receiving compensation from the Company, Employee agrees not to acquire, assume or participate in, directly or indirectly, any position, investment or interest known by
Employee to be adverse or antagonistic to the Company, its business or prospects, financial or otherwise or in any company, person or entity that is, directly or indirectly, in competition with the
business of the Company or any of its Affiliates. Ownership by the Employee, as a passive investment, of less than one percent (1%) of the outstanding shares of capital stock of any corporation with
one or more classes of its capital stock listed on a national securities exchange or publicly traded on the Nasdaq Stock Market or in the over-the-counter market shall not
constitute a breach of this paragraph. 

3.    COMPENSATION AND BENEFITS  

        3.1    Base Salary.    While employed by the Company, as compensation for proper and satisfactory performance of all
duties to be performed hereunder, the Company shall pay Employee an annual base salary of two hundred fifty thousand dollars ($250,000) per year ("Base Salary"), payable in regular
periodic payments in accordance with Company policy. Such salary shall be prorated for any partial year of employment on the basis of a 365-day fiscal year. 

        3.2    Discretionary Bonus.    In addition to Employee's base salary, Employee will be eligible to receive an annual
discretionary bonus of up to twenty percent (20%) of Employee's then current base salary. The bonus amount Employee may receive, if any, shall be discretionary and based upon Employee's performance
during the previous year as evaluated by the CEO and the Board in their sole and absolute discretion. 

        3.3    Employment Taxes and Withholdings.    All of Employee's compensation shall be subject to customary withholding
taxes and any other employment taxes as are commonly required to be collected or withheld by the Company. 

        3.4    Vacation.    Employee shall be entitled to vacation and illness days consistent with the Company's standard
practice for its employees generally. 

        3.5    Employee Benefits.    Employee shall, at the discretion of the Board, be entitled to participate in the
benefits for which he is eligible under the terms and conditions of the standard Company benefits which may be in effect from time to time and provided by the Company. 

2

 

        3.6    Expense Reimbursement.    Employee shall be entitled to receive prompt reimbursement of all reasonable business
and travel expenses incurred by Employee in connection with the business of the Company. Such expenses must be properly accounted for under the policies and procedures established by the Company. 

4.    TERMINATION  

        4.1    Termination by the Company for Cause.    The Company may terminate Employee's employment under this Amended
Agreement "for Cause" by delivery of written notice to Employee specifying the cause or causes relied upon for such termination. If Employee's employment under this Amended Agreement is terminated by
the Company for Cause under this section, Employee shall be entitled to receive only accrued Base Salary and other accrued benefits required by law, prorated to the date of termination. Employee will
not be entitled to severance pay, pay in lieu of notice or any other such compensation.
Grounds for the Company to terminate this Amended Agreement "for cause" shall be limited to the occurrence of any of the following events: 

        (a)  If Employee is in material breach of any provision of this Amended Agreement; 

        (b)  Employee's engaging or in any manner participating in any activity which is competitive with or intentionally injurious
to the Company or which violates any provision of Sections 2 or 5 of this Amended Agreement; 

        (c)  Employee's commission of any fraud against the Company or use or appropriation for his personal use or benefit of any
funds or properties of the Company not authorized by the Board to be so used or appropriated; 

        (d)  Employee's conviction of any crime involving dishonesty or moral turpitude; 

        (e)  Conduct by Employee which in good faith and reasonable determination of the Board demonstrates gross unfitness to serve. 

        Any
notice of termination given pursuant to this Section 4.1 shall effect termination as of the date specified in such notice or, in the event no such date is specified, on the
last day of the month in which such notice is delivered or deemed delivered as provided in Section 7 below. 

        4.2    Termination by the Company Without Cause.    The Company may terminate the Employee's employment at any time
without Cause upon delivery of written notice to the Employee. Any notice of termination given pursuant to this Section 4.2 shall effect termination as of the date specified in such notice or,
in the event no such date is specified, on the last day of the month in which such notice is delivered or deemed deliverable as provided in Section 7 below. If such termination shall occur
under this Section 4.2, then Employee shall be entitled to continuation of Base Salary and health benefits under COBRA for a period of six (6) months from said date of termination with
such Base Salary continuation to be at the rate set forth in Section 3.1 or, as the case may be, at the rate of Employee's then current Base Salary in effect as of the date of termination. 

        4.3    Termination by Mutual Agreement.    The parties may mutually agree at any time to terminate this Amended
Agreement upon such terms and conditions as may be agreed upon in writing. 

        4.4    Termination Upon Death or Disability.    This Amended Agreement shall terminate without notice upon the date of
Employee's death or the date when Employee becomes "completely disabled" (as defined below). In the event of termination due to death or complete disability, Employee or his estate or personal
representative, as the case may be, shall be entitled to receive Employee's Base Salary for a period of one month following the date of death or the date when Employee becomes completely disabled. For
purposes of this Amended Agreement, the term "completely disabled" as used in this Amended Agreement shall mean the inability of Employee to perform the essential functions of his position under this
Amended Agreement by reason of any incapacity, physical or mental, which the 

3

 

Board of the Company, based upon medical advice or an opinion provided by a licensed physician acceptable to the Board of the Company and approved by the Employee, which approval shall not be
unreasonably withheld, determines to have incapacitated Employee from satisfactorily performing any or all essential functions of his position for the Company during the foreseeable future. Based upon
such medical advice or opinion, the determination of the Board of the Company shall be final and binding and the date such determination is made shall be the date of such complete disability for
purposes of this Amended Agreement. 

        4.5    Termination by Employee.    Notwithstanding any provision to the contrary herein, unless otherwise provided
herein or unless otherwise provided by law, Employee may at any time terminate his employment with the Company hereunder. In such event, the Company shall not be liable to Employee for the payment of
any amount other than accrued Base Salary and other accrued benefits required by law, prorated to the date of termination. Employee will not be entitled to severance pay, pay in lieu of notice or any
other such compensation. 

5.    CONFIDENTIAL INFORMATION; NONSOLICITATION  

        5.1    Confidential Information.    As a condition of this Amended Agreement, Employee acknowledges and agrees that he
shall continue to be bound by the Company's "Proprietary Information and Inventions Agreement," attached hereto as Exhibit A. 

        5.2    Nonsolicitation.    While employed by the Company and for one (1) year thereafter, the Employee agrees
that in order to protect the Company's confidential and proprietary information from unauthorized use, that Employee will not, either directly or through others, solicit or attempt to solicit any
employee, consultant or independent contractor of the Company to terminate his or her relationship with the Company in order to become an employee, consultant or independent contractor to or for any
other person or business entity; or the business of any customer, vendor or distributor of the Company which, at the time of termination or one (1) year immediately prior thereto, was listed on
Company's customer, vendor or distributor list. 

6.    ASSIGNMENT AND BINDING EFFECT  

        6.1        This Amended Agreement shall be binding upon and inure to the benefit of Employee and Employee's heirs,
executors, personal representatives, assigns, administrators and legal representatives. Because of the unique and personal nature of Employee's duties under this Amended Agreement, neither this
Amended Agreement nor any rights or obligations under this Amended Agreement shall be assignable by Employee. This Amended Agreement shall be binding upon and inure to the benefit of the Company and
its successors, assigns and legal representatives. 

7.    NOTICES  

        7.1        All notices or demands of any kind required or permitted to be given by the Company or Employee under this
Amended Agreement shall be given in writing and shall be personally delivered (and receipted for) or mailed by certified mail, return receipt requested, postage prepaid, addressed as follows: 

If
to the Company: 

Larry
Stambaugh

Maxim Pharmaceuticals, Inc.

8899 University Center Lane, Suite 400

San Diego, CA 92122 

4

 

If
to Employee: 

Dale
Sander

**

** 

Any
such written notice shall be deemed received when personally delivered or three (3) days after its deposit in the United States mail as specified above. Either Party may change its address
for notices by giving notice to the other Party in the manner specified in this section. 

8.    CHOICE OF LAW.  

        8.1        This Amended Agreement is made in San Diego, California. This Amended Agreement shall be construed and
interpreted in accordance with the laws of the State of California. 

9.    INTEGRATION  

        9.1        Except as otherwise provided herein, this Amended Agreement contains the complete, final and exclusive
agreement of the Parties relating to the subject matter of this Amended Agreement, and supersedes all prior oral and written employment agreements or arrangements between the Parties, including, but
not limited to the Employment Agreement between you and the Company dated November 16, 2001. 

10.    AMENDMENT  

        10.1        This Amended Agreement cannot be amended or modified except by a written agreement signed by Employee and
the CEO or Board of Directors of the Company. 

11.    WAIVER.  

        11.1        No term, covenant or condition of this Amended Agreement or any breach thereof shall be deemed waived,
except with the written consent of the Party against whom the wavier in claimed, and any waiver or any such term, covenant, condition or breach shall not be deemed to be a waiver of any preceding or
succeeding breach of the same or any other term, covenant, condition or breach. 

12.    SEVERABILITY  

        12.1        The finding by a court of competent jurisdiction of the unenforceability, invalidity or illegality of any
provision of this Amended Agreement shall not render any other provision of this Amended Agreement unenforceable, invalid or illegal. Such court shall have the authority to modify or replace the
invalid or unenforceable term or provision with a valid and enforceable term or provision which most accurately represents the parties' intention with respect to the invalid or unenforceable term or
provision. 

13.    INTERPRETATION; CONSTRUCTION  

        13.1        The headings set forth in this Amended Agreement are for convenience of reference only and shall not be
used in interpreting this Amended Agreement. This Amended Agreement has been drafted by legal counsel representing the Company, but Employee has been encouraged, and has consulted with, his own
independent counsel and tax advisors with respect to the terms of this Amended Agreement. The Parties acknowledge that each Party and its counsel has reviewed and revised, or had an opportunity to
review and revise, this Amended Agreement, and the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the
interpretation of this Amended Agreement. 

5

 

14.    REPRESENTATIONS AND WARRANTIES.  

        14.1        Employee represents and warrants that he is not restricted or prohibited, contractually or otherwise, from
entering into and performing each of the terms and covenants contained in this
Amended Agreement, and that his execution and performance of this Amended Agreement will not violate or breach any other agreements between Employee and any other person or entity. 

15.    COUNTERPARTS.  

        15.1        This Amended Agreement may be executed in two counterparts, each of which shall be deemed an original, all
of which together shall contribute one and the same instrument. 

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

	 	 	The Company:
	

 	
 	
MAXIM PHARMACEUTICALS, INC.
	

 	

 	

By:	

 	

 

/s/  LARRY G. STAMBAUGH      
 Larry G. Stambaugh

Chairman of the Board, President and

Chief Executive Officer
	

    	

 	

 	

 	

 
	

 	
 	

Date:	
 	

7/30/02

	

    	
 	

 	
 	

 
	

 	
 	
EMPLOYEE:
	

 	
 	

 	
 	

/s/  DALE SANDER      
 Dale Sander
	

    	

 	

 	

 	

 
	

 	
 	

Date:	
 	

7/30/02

6

 
 

EXHIBIT A
  COPY OF EXECUTED PROPRIETARY INFORMATION AND INVENTIONS AGREEMENT    
  

QuickLinks

Exhibit 10.1

AMENDED AND RESTATED EMPLOYMENT AGREEMENT

RECITALS

AGREEMENT

EXHIBIT A COPY OF EXECUTED PROPRIETARY INFORMATION AND INVENTIONS AGREEMENTQuickLinks
 -- Click here to rapidly navigate through this document
  

 
 

Exhibit 10.2    
  

 
 

EMPLOYMENT AGREEMENT    
  

        THIS EMPLOYMENT AGREEMENT (the "Agreement") is made and entered into effective as of June 1, 2002, by and
between MAXIM PHARMACEUTICALS, INC., (the "Company") and PAM G. GLEASON ("Executive"). The
Company and Executive are hereinafter collectively referred to as the "Parties," and individually referred to as a "Party." 

 
 

RECITALS    
  

        A.    The Company desires assurance of the association and services of Executive in order to retain Executive's experience,
skills, abilities, background and knowledge, and is willing to engage Executive's services on the terms and conditions set forth in this Agreement. 

        B.    Executive desires to continue in the employ of the Company, and is willing to accept such employment on the terms and
conditions set forth in this Agreement. 

 
 

AGREEMENT    
  

        In consideration of the foregoing recitals and the mutual promises and covenants herein contained, and for other good and valuable consideration, the Parties,
intending to be legally bound, agree as follows: 

1.    EMPLOYMENT  

        1.1    Term.    The Company hereby employs Executive, and Executive hereby accepts employment by the Company, upon the
terms and conditions set forth in this Agreement, effective as of the date first set forth above ("Effective Date"). This Agreement shall continue in effect until terminated pursuant to
Section 4 below. 

        1.2    Position.    Executive shall be the Vice-President Human Resources and shall serve in such other
capacity or capacities as the Company's Chief Executive Officer ("CEO") may from time to time prescribe. 

        1.3    Duties.    Executive shall do and perform all services, acts or things necessary or advisable to manage and
conduct the business of the Company and which are normally associated with the position of Vice President Human Resources consistent with the Bylaws of the Company and as required or directed by the
CEO. 

        1.4    Policies and Practices.    The employment relationship between the Parties shall be governed by the policies
and practices established by the Company and the Board. The Executive acknowledges that she has read the Company's Employee Handbook, which governs the terms and conditions of her employment with the
Company, along with this Agreement. In the event that the terms of this Agreement differ from or are in conflict with the Company's policies or practices or the Company's Employee Handbook, this
Agreement shall control. 

        1.5    Location.    Unless the Parties otherwise agree in writing, during the term of this Agreement, Executive shall
perform the services she is required to perform pursuant to this Agreement at the Company's offices, located at 8899 University Lane, Suite 400, San Diego, CA 92122 or at any other place at which the
Company maintains an office; provided, however, that the Company may from time to time require Executive to travel temporarily to other locations in connection with the Company's business. 

1

 

2.    LOYAL AND CONSCIENTIOUS PERFORMANCE; NONCOMPETITION  

        2.1    Loyalty.    During Executive's employment by the Company, Executive shall devote her full business energies,
interest, abilities and productive time to the proper and efficient performance of her duties under this Agreement. 

        2.2    Covenant Not to Compete.    During the term of this Agreement, Executive shall not engage in competition with
the Company, either directly or indirectly, in any manner or capacity, as adviser, principal, agent, partner, officer, director, employee, member of any association or otherwise, in any phase of the
business of developing, manufacturing and marketing of products which are in the same field of use or which otherwise compete with the products or proposed products of the Company. 

        2.3    Agreement not to Participate in Company's Competitors.    During Executive's employment with the Company and
any period in which Executive is receiving compensation from the Company, Executive agrees not to acquire, assume or participate in, directly or indirectly, any position, investment or interest known
by Executive to be adverse or antagonistic to the Company, its business or prospects, financial or otherwise or in any company, person or entity that is, directly or indirectly, in competition with
the business of the Company or any of its Affiliates. Ownership by the Executive, as a passive investment, of less than one percent (1%) of the outstanding shares of capital stock of any corporation
with one or more classes of its capital stock listed on a national securities exchange or publicly traded on the Nasdaq Stock Market or in the over-the-counter market shall not
constitute a breach of this paragraph. 

3.    COMPENSATION AND BENEFITS  

        3.1    Base Salary.    While employed by the Company, as compensation for proper and satisfactory performance of all
duties to be performed hereunder, the Company shall pay Executive an annual base salary of one hundred seventy thousand dollars ($170,000) per year ("Base Salary"), payable in regular periodic
payments in accordance with Company policy. Such salary shall be prorated for any partial year of employment on the basis of a 365-day fiscal year. 

        3.2    Discretionary Bonus.    In addition to Executive's base salary, Executive will be eligible to receive an annual
discretionary bonus of up to twenty percent (20%) of Executive's then current base salary. The bonus amount Executive may receive, if any, shall be discretionary and based upon Executive's performance
during the previous year as evaluated by the CEO and the Board in their sole and absolute discretion. 

        3.3    Employment Taxes and Withholdings.    All of Executive's compensation shall be subject to customary withholding
taxes and any other employment taxes as are commonly required to be collected or withheld by the Company. 

        3.4    Vacation.    Executive shall be entitled to vacation and illness days consistent with the Company's standard
practice for its employees generally. 

        3.5    Employee Benefits.    Executive shall, at the discretion of the Board, be entitled to participate in the
benefits for which she is eligible under the terms and conditions of the standard Company benefits which may be in effect from time to time and provided by the Company. 

        3.6    Expense Reimbursement.    Executive shall be entitled to receive prompt reimbursement of all reasonable
business and travel expenses incurred by Executive in connection with the business of the Company. Such expenses must be properly accounted for under the policies and procedures established by the
Company. 

2

 

4.    TERMINATION  

        4.1    Termination by the Company for Cause.    The Company may terminate Executive's employment under this Agreement
"for Cause" by delivery of written notice to Executive specifying the cause or causes relied upon for such termination. If Executive's employment under this Agreement is terminated by the Company for
Cause under this section, Executive shall be entitled to receive only accrued Base Salary and other accrued benefits required by law, prorated to the date of termination. Executive will not be
entitled to severance pay, pay in lieu of notice or any other such compensation. Grounds for the Company to terminate this Agreement "for cause" shall be limited to the occurrence of any of the
following events: 

        (a)  If Executive is in material breach of any provision of this Agreement; 

        (b)  Executive's engaging or in any manner participating in any activity which is competitive with or intentionally injurious
to the Company or which violates any provision of Sections 2 or 5 of this Agreement; 

        (c)  Executive's commission of any fraud against the Company or use or appropriation for her personal use or benefit of any
funds or properties of the Company not authorized by the Board to be so used or appropriated; 

        (d)  Executive's conviction of any crime involving dishonesty or moral turpitude; 

        (e)  Conduct by Executive which in good faith and reasonable determination of the Board demonstrates gross unfitness to serve. 

        Any
notice of termination given pursuant to this Section 4.1 shall effect termination as of the date specified in such notice or, in the event no such date is specified, on the
last day of the month in which such notice is delivered or deemed delivered as provided in Section 7 below. 

        4.2    Termination by the Company Without Cause.    The Company may terminate the Executive's employment at any time
without Cause upon delivery of written notice to the Executive. Any notice of termination given pursuant to this Section 4.2 shall effect termination as of the date specified in such notice or,
in the event no such date is specified, on the last day of the month in which such notice is delivered or deemed deliverable as provided in Section 7 below. If such termination shall occur
under this Section 4.2, then Executive shall be entitled to continuation of Base Salary and health benefits under COBRA for a period of six (6) months from said date of termination with
such Base Salary continuation to be at the rate set forth in Section 3.1 or, as the case may be, at the rate of Executive's then current Base Salary in effect as of the date of termination. 

        4.3    Termination by Mutual Agreement.    The parties may mutually agree at any time to terminate this Agreement upon
such terms and conditions as may be agreed upon in writing. 

        4.4    Termination Upon Death or Disability.    This Agreement shall terminate without notice upon the date of
Executive's death or the date when Executive becomes "completely disabled" (as defined below). In the event of termination due to death or complete disability, Executive or her estate or personal
representative, as the case may be, shall be entitled to receive Executive's Base Salary for a period of one month following the date of death or the date when Executive becomes completely disabled.
For purposes of this Agreement, the term "completely disabled" as used in this Agreement shall mean the inability of Executive to perform the essential functions of her position under this Agreement
by reason of any incapacity, physical or mental, which the Board of the Company, based upon medical advice or an opinion provided by a licensed physician acceptable to the Board of the Company and
approved by the Executive, which approval shall not be unreasonably withheld, determines to have incapacitated
Executive from satisfactorily performing any or all essential functions of her position for the Company during the foreseeable future. Based upon such medical advice or 

3

 

opinion, the determination of the Board of the Company shall be final and binding and the date such determination is made shall be the date of such complete disability for purposes of this Agreement. 

        4.5    Termination by Executive.    Notwithstanding any provision to the contrary herein, unless otherwise provided
herein or unless otherwise provided by law, Executive may at any time terminate her employment with the Company hereunder. In such event, the Company shall not be liable to Executive for the payment
of any amount other than accrued Base Salary and other accrued benefits required by law, prorated to the date of termination. Executive will not be entitled to severance pay, pay in lieu of notice or
any other such compensation. 

5.    CONFIDENTIAL INFORMATION; NONSOLICITATION  

        5.1    Confidential Information.    As a condition of this Agreement, Executive acknowledges and agrees that she shall
continue to be bound by the Company's "Proprietary Information and Inventions Agreement," attached hereto as Exhibit A. 

        5.2    Nonsolicitation.    While employed by the Company and for one (1) year thereafter, the Executive agrees
that in order to protect the Company's confidential and proprietary information from unauthorized use, that Executive will not, either directly or through others, solicit or attempt to solicit any
employee, consultant or independent contractor of the Company to terminate her or her relationship with the Company in order to become an employee, consultant or independent contractor to or for any
other person or business entity; or the business of any customer, vendor or distributor of the Company which, at the time of termination or one (1) year immediately prior thereto, was listed on
Company's customer, vendor or distributor list. 

6.    ASSIGNMENT AND BINDING EFFECT  

        6.1        This Agreement shall be binding upon and inure to the benefit of Executive and Executive's heirs,
executors, personal representatives, assigns, administrators and legal representatives. Because of the unique and personal nature of Executive's duties under this Agreement, neither this Agreement nor
any rights or obligations under this Agreement shall be assignable by Executive. This Agreement shall
be binding upon and inure to the benefit of the Company and its successors, assigns and legal representatives. 

7.    NOTICES  

        7.1        All notices or demands of any kind required or permitted to be given by the Company or Executive under this
Agreement shall be given in writing and shall be personally delivered (and receipted for) or mailed by certified mail, return receipt requested, postage prepaid, addressed as follows: 

If
to the Company: 

Larry
Stambaugh

Maxim Pharmaceuticals, Inc.

8899 University Center Lane, Suite 400

San Diego, CA 92122 

If
to Executive: 

Pam
G. Gleason

Maxim Pharmaceuticals, Inc.

8899 University Center Lane, Suite 400

San Diego, CA 92122 

4

 

Any
such written notice shall be deemed received when personally delivered or three (3) days after its deposit in the United States mail as specified above. Either Party may change its address
for notices by giving notice to the other Party in the manner specified in this section. 

8.    CHOICE OF LAW.  

        8.1        This Agreement is made in San Diego, California. This Agreement shall be construed and interpreted in
accordance with the laws of the State of California. 

9.    INTEGRATION  

        9.1        Except as otherwise provided herein, this Agreement contains the complete, final and exclusive agreement of
the Parties relating to the subject matter of this Agreement, and supersedes all prior oral and written employment agreements or arrangements between the Parties. 

10.    AMENDMENT  

        10.1        This Agreement cannot be amended or modified except by a written agreement signed by Executive and the CEO
or Board of Directors of the Company. 

11.    WAIVER.  

        11.1        No term, covenant or condition of this Agreement or any breach thereof shall be deemed waived, except with
the written consent of the Party against whom the wavier in claimed, and any waiver or any such term, covenant, condition or breach shall not be deemed to be a waiver of any preceding or succeeding
breach of the same or any other term, covenant, condition or breach. 

12.    SEVERABILITY  

        12.1        The finding by a court of competent jurisdiction of the unenforceability, invalidity or illegality of any
provision of this Agreement shall not render any other provision of this Agreement unenforceable, invalid or illegal. Such court shall have the authority to modify or replace the invalid or
unenforceable term or provision with a valid and enforceable term or provision which most accurately represents the parties' intention with respect to the invalid or unenforceable term or provision. 

13.    INTERPRETATION; CONSTRUCTION  

        13.1        The headings set forth in this Agreement are for convenience of reference only and shall not be used in
interpreting this Agreement. This Agreement has been drafted by legal counsel representing the Company, but Executive has been encouraged, and has consulted with, her own independent counsel and tax
advisors with respect to the terms of this Agreement. The Parties acknowledge that each Party and its counsel has reviewed and revised, or had an opportunity to review and revise, this Agreement, and
the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Agreement. 

14.    REPRESENTATIONS AND WARRANTIES.  

        14.1        Executive represents and warrants that she is not restricted or prohibited, contractually or otherwise,
from entering into and performing each of the terms and covenants contained in this Agreement, and that her execution and performance of this Agreement will not violate or breach any other agreements
between Executive and any other person or entity. 

5

 

15.    COUNTERPARTS.  

        15.1        This Agreement may be executed in two counterparts, each of which shall be deemed an original, all of
which together shall contribute one and the same instrument. 

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

	 	 	The Company:
	

 	
 	
MAXIM PHARMACEUTICALS, INC.
	

 	

 	

By:	

 	

/s/  LARRY G. STAMBAUGH      
 Larry G. Stambaugh

Larry G. Stambaugh Chairman of the Board, President

and Chief Executive Officer
	

    	

 	

 	

 	

 
	

 	
 	

Date:	
 	

July 31, 2002

	

    	
 	

 	
 	

 
	

 	
 	
EXECUTIVE:
	

 	
 	

 	
 	

/s/  PAM G. GLEASON      
 Pam G. Gleason
	

    	

 	

 	

 	

 
	

 	
 	

Date:	
 	

July 31, 2002

6

 
 

EXHIBIT A
  COPY OF EXECUTED PROPRIETARY INFORMATION AND INVENTIONS AGREEMENT    
  

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Exhibit 10.2

EMPLOYMENT AGREEMENT

RECITALS

AGREEMENT

EXHIBIT A COPY OF EXECUTED PROPRIETARY INFORMATION AND INVENTIONS AGREEMENT

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