Document:

Employment Letter Agreement, dated December 28, 2010

 EXHIBIT 10.46b 
 December 27, 2010 
 Giacomo di Nepi 
 Kaenelrain 8 
 CH4106 Therwil (BL) 
 Switzerland 
  

	Re:	Modified Employment with InterMune, Inc. 

 Dear
Giacomo: 
 As we have discussed, in connection with the acceleration of our efforts in the EU following the positive CHMP
opinion on December 16, we are modifying the terms of your InterMune employment. Effective as of December 27, 2010, we will reduce your time as an employee of InterMune, Inc. to 25%. The remaining 75% of your time will be as an employee of
InterMune Schweiz AG, under a separate contract to be executed between you and that entity of equal date with this letter. 

The 25% of your time committed to InterMune, Inc. will consist of, among other things, (i) your attendance (in person or by
audio/teleconference) at meetings of InterMune’s Executive Committee and, upon request, of InterMune’s Board of Directors and committees thereof, (ii) your time spent in the offices of InterMune, Inc. in Brisbane working on issues
relating to InterMune’s global strategy, and (iii) your time spent in coordinating operations between InterMune, Inc. and InterMune Schweiz AG. You agree to maintain and to make available for review an accounting of your time spent on
behalf of InterMune, Inc. in a form that is adequate for InterMune, Inc.’s recordkeeping but not unduly burdensome to you. 

Except as provided in this letter and in the separate employment agreement between you and InterMune Schweiz AG, all other terms
and conditions of your employment will remain as set out in the employment letter between you and InterMune dated October 29, 2009. These terms and conditions of employment include, but are not limited to: 

 

	 	(a)	your title; 

  

	 	(b)	your total base compensation of $375,000, which will be paid 25% by InterMune, Inc. at the rate of CHF 90,020 per year (CHF 7,501.67 per month) and 75% by
InterMune Schweiz AG at the rate of CHF 270,606 per year (CHF 22,550.50 per month). The separation pay described in the October 29, 2010 employment letter will be based on your combined total base salary, with your InterMune tenure
calculated from October 29, 2009; 

  

	 	(c)	your discretionary bonus, which for 2010 will be targeted at 35% of your combined total base salary; and 

 Giacomo di Nepi 
 December 27, 2010 
 Page 2 

 

	 	(d)	your eligibility for, and participation in, InterMune’s employee benefits plans, including the Aetna PPO medical plan in which you currently participate on your
own behalf and on that of your dependents. 

 In the event you become ineligible for the Aetna PPO plan, InterMune reaffirms its
commitment to provide substantially similar health insurance to you and your family. For clarity, your combined total base salary from InterMune, Inc. and InterMune Schweitz AG will be considered as the basis for any employee benefit based on salary
or rate of pay. 
 You also will continue to be eligible for annual equity grants on the same terms as conditions as other
members of InterMune’s Executive Committee, and eligible for an additional grant of no fewer than 25,000 options upon EMA (formerly EMEA) issuance of a Marketing Authorization for pirfenidone. 

Although the terms of you automobile allowance will not change, because the majority of your time will be as an employee of InterMune
Schweiz AG and because you reside in Switzerland, your automobile allowance will be addressed solely in your employment agreement with InterMune Schweiz AG. 
 Giacomo, we are pleased to continue to work with you, and look forward to your continued contributions to our global success. Please indicate your acceptance of this offer by signing this letter below and
returning the letter as soon as possible. A copy of this letter is enclosed for your records. 
  

	
	 Sincerely,
  
 InterMune, Inc.

	
	/s/ Howard Simon
	Howard Simon
	SVP, HR & Corporate Services
	Associate General Counsel
	Chief Compliance Officer

 I understand and agree to the
foregoing terms and conditions of employment with InterMune, Inc. 
  

	
	/s/ Giacomo di Nepi
	Giacomo di Nepi
	Date 28 Dec 2010Employment Contract, dated December 28, 2010

 EXHIBIT 10.46c 
 Employment Contract 
 between 
 InterMune Schweiz AG, c/o BDO AG, Gestadeckplatz 2, 4410 Liestal 
 (the
Company) 
 and 
 Giacomo Di
Nepi, Kaenelrain 8, 4106 Therwil 
 (the Employee) 
 27 December, 2010 

  Employment Contract between InterMune Schweiz AG and Giacomo Di Nepi
    
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 Recitals 
 The Employee and InterMune, Inc. (InterMune) entered into an employment contract effective October 30, 2009 (Original Employment Agreement). 

In connection with the acceleration of our efforts in the EU following the positive CHMP opinion on December 16, the Employee
consented on December 27, 2010 that the Original Employment Agreement be amended and that a new employment agreement between the Employee and the Company be executed. 
 Based on the foregoing, the parties agree as follows: 
 Function 

The Company hereby employs and appoints the Employee as Senior Vice President & Managing Director, Europe. He will be a member of
the Company’s Executive Committee. This is position is a 75% position. In addition, the Employee is employed by InterMune, Inc. in a 25% position under the terms of an employment letter with InterMune, Inc. of equal date with this Agreement.

 The Company reserves the right to modify the Employee’s position, duties and supervisor from time to time as it deems
appropriate. 
 The Employee reports to the CEO and President of InterMune. 

The Employee has also been elected as President of the Company’s Board of Directors. 

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 Term of Employment 
 The term of employment shall begin on December 27, 2010. For purposes of calculating the duration of the employment contract, however, the date of October 30, 2009 shall be considered.

 The present employment contract will enter in force only if an employment agreement for a 25% position is concluded between
the Employee and InterMune (InterMune Employment Agreement). 
 No probationary period applies. 

Either party may terminate the employment by giving written notice as required by Swiss law at the end of a calendar month. The
termination of the InterMune Employment Agreement will result in the termination of the present employment agreement, unless otherwise agreed in writing by the parties. 
 Place of Work 
 Place of work shall be Liestal, Basel. The Employee will be
required to travel. Should the Office be relocated more than 80 miles from its current place, InterMune will give you and your family the option to relocate; should you choose to do so, InterMune will pay all usual and customary relocation expenses
for you and your family. Should you choose not to do so, InterMune will pay you reasonable commuting costs. 
 Working Time 

The Employee shall dedicate full time, attention and energy to the business of the Company for 75% of his productive time. The remaining
25% of the Employee’s productive time shall be on behalf of InterMune, Inc. under the terms of the InterMune Employment Agreement. He shall devote such of his time to the performance of his duties hereunder as shall be necessary. Any overtime
work or additional tasks performed by the Employee is fully compensated by the salary according to Section 5.1. 

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 Compensation 
 Salary 
 The Employee will be paid an annual salary of CHF 270,606. The
annual salary will be paid in twelve equal monthly installments by bank transfer at the end of each calendar month. 
 The
Employee will also receive an automobile allowance of CHF 2,382 per month. 
 Performance-related Bonus 

Additionally, the Employee will be eligible to participate in the Company’s discretionary incentive bonus program designed to provide
a financial reward for achieving performance goals. The incentive plan will be based on two criteria: his individual performance against his goals as determined by his manager and the Company’s performance as determined by the Company’s
senior management and Board of Directors. For 2010, his target bonus will be 35% of his salary. Upon EMEA approval of pirfenidone and the commercial launch of pirfenidone in the European market, the Employee’s bonus structure will be revisited
and modified to reward him for the successful growth of that market. 
 Salary deductions 

The applicable Employee contributions to social insurance schemes payable by the Employee in accordance with the respective regulations or
individual agreements shall be deducted from the gross compensation payments made to the Employee under Section 5. 
 Vacation

 The Employee is entitled to 20 days paid vacation per calendar year. Vacation will be taken at times mutually agreed by
the Employee and the Company. 

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 Employee Benefits 
 The Employee will continue to be eligible to participate in InterMune’s employee benefit plans, in accordance with the terms and eligibility requirements of those plans and as set out in the
InterMune Employment Agreement. Specifically, the Employee and his dependents will continue to be eligible for, and to participate in, group health insurance under InterMune’s current Aetna PPO plan. For the avoidance of doubt, in the event you
become ineligible to the Aetna PPO plan, InterMune agrees to provide substantially similar health insurance to you and your family. 
 Duty
of Loyalty 
 The Employee shall carefully perform the work assigned to him and shall observe in good faith directives and
specific instructions given to him. He acknowledges that his function requires an exacting degree of loyalty to the Company. He is expected to invest his entire work to the benefit of the Company and to refrain from any activities which could have
an adverse effect on or conflict with the Company’s interests or the Employee’s performance. 
 The Employee
acknowledges in writing that he has read and agrees to abide by the provisions of InterMune, Inc.’s Code of Business Conduct and Ethics. 

Acceptance of Benefits from Third Parties 
 The Employee shall not accept any payments, gifts, loans or other benefits in connection with his services under this agreement, except for usual complementary gifts at the end of the year or at closing
of a project. 
 Confidentiality Covenant 
 During the employment and after its termination, the Employee may neither communicate to third parties nor make use of any confidential information which he learns of at his work for the Company.
Confidential information shall comprise anything, which at the relevant point in time was not already demonstrably known to the public, particularly information about any kind of know-how (e.g., inventions,

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developments, data collections, procedures and concepts, business relationships) which is relevant for the Company or for persons who stand in relation or cooperate with the Company. 

The Employee agrees to act in accordance with any valid non-disclosure agreement to which he may be subject. He further agrees that he
will not bring onto the Company’s premises any unpublished documents or property belonging to any former employer or other person to whom he has an obligation of confidentiality. 
 Intellectual Property Rights 
 The rights to inventions and designs made or
conceived by the Employee individually or jointly while performing his employment activity and in performance of his contractual duties belong to the Company regardless of whether they are legally protected (Art. 332 para. 1 CO). The rights to
inventions and designs, made or conceived by the Employee while performing his employment activity, but not during the performance of his contractual duties, shall be disclosed by him to the Company in accordance with Art. 332 para. 2 CO in writing
and shall be offered for acquisition against reasonable compensation regardless of whether they are legally protected. 
 Other
rights to any work products and any know-how, which the Employee creates or in which creation he participates while performing his employment activity belong exclusively to the Company. To the extent that work products (e.g., software, reports,
documentations) are protected by copyrights, the Employee hereby assigns to the Company any and all rights related to such work products, particularly the copyright and any and all rights of use, including the rights of production and duplication,
of publishing, to use, to license or to sell, to distribute over data or online media, to modify and develop further as well to develop new products on the basis of the work product of the Employee or on the basis of parts of such work product.

 To the extent that the work products comprise software, the Company in particular has the following, freely transferable and
otherwise realizable rights on an exclusive basis: 

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	 	a.	the right to use the software in its own operation and group of companies; 

 

	 	b.	the right to allow third parties to use the software without any restriction or under the condition of a commercial or private purpose, irrespective of whether such use
requires copies of the software, occurs in a network operation or is made possible in another technical manner, and also independent of whether usage rights are granted through sales, license, lease or other type of contracts;

  

	 	c.	the right of first publication, of non-commercial distribution and commercial marketing of the software, regardless of how and on the basis of which distribution
concept such marketing takes place; 

  

	 	d.	the right to make copies of the software on any and all data media; 

  

	 	e.	the right to maintain the software; 

  

	 	f.	the right to modify, improve, extend, translate, decompile, disassemble or otherwise process the software; 

 

	 	g.	the right to use the software as a model for new developments or extensions of other works; as well as 

 

	 	h.	the right to grant the rights pursuant to (c) to (g) to third parties. 

 For the purposes of this section, the term software shall mean computer programs of any level and kind, particularly operating and application programs, as well as any and all work results that result or
are created as part of the design, development, installation or maintenance of the respective computer program or otherwise in connection with it, irrespective of the data media and form in which they are recorded. The term software also comprises
source codes. 
 The Company is not obligated to exercise its rights set forth in the preceding paragraphs. The Employee waives
the right to be named as author or inventor. The Company is entitled to designate itself as the exclusive owner of the patent rights, copyrights and other rights related to the work products. 

Further, the Employee will comply with the enclosed InterMune Proprietary Information and Inventions Agreement, which contains specific
commitments regarding confidentiality. 

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 Non-Solicitation Covenant 

The Employee agrees that for a period of two years after his employment with the Company ends, he will not solicit any Company’s
employee or consultant to leave his or her employment or consulting relationship with the Company in order to begin employment or a consulting relationship with any company or business in actual or potential competition with the Company. 

Return of Property 
 Upon
notice of termination of the employment, and in no case later than at the date on which the employment is terminated, the Employee shall return to the Company all property of the Company that is in his possession or control, including without
limitation, all computer files and other information containing confidential information, and all mailing lists, reports, files, memoranda, records, computer hardware, software, mobile phones, credit cards, door and file keys, computer access codes
or disks and instructional manuals, and other physical or personal property which he received or prepared or helped prepare in connection with his employment with the Company. The Employee further agrees that he will not make, retain or furnish to
any other person or entity any copies, duplicates, reproductions or excerpts thereof. 
 The items mentioned above or products of
work may not be copied or duplicated for private or other purposes. 
 Data Protection 

The Employee agrees that the Company may forward the Employee’s data for processing to its affiliated companies in Switzerland and
abroad. 
 Additional Provisions 
 The following documents (the Documents) form an integral part of this Agreement: 
  

	 	•	 	 InterMune, Inc.’s Code of Business Conduct and Ethics 

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	 	•	 	 Proprietary Information and Inventions Agreement 

 The Employee confirms receipt of the Documents and knowledge of their content. 
 In
the event of any ambiguity, discrepancies or conflict between the Agreement and the Documents the terms of this Agreement shall prevail. 

Amendments and Waivers 

Subject to the following paragraph, this Agreement may only be modified or amended by a document signed by the parties. Any provision
contained in this Agreement may only be waived by a document signed by the party waiving such provision. 
 The Company reserves
the right to change or amend the Documents. Unless the Employee objects in writing to such changes within 10 days after having received the changes, the Employee is deemed to have accepted the changes 

Entire Agreement 
 This
Agreement, including the Documents and any other documents referred to herein, constitutes the entire agreement and understanding among the parties with respect to the subject matter hereof, and shall supersede all prior oral and written agreements
or understandings of the parties relating hereto. 
 Governing Law 

This Agreement shall be governed by and construed in accordance with the substantive laws of Switzerland. 

This Agreement has been executed in 2 (two) originals. 
 For the Company: 

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	Howard Simon	 		 	/s/ Howard Simon
	[name, function]	 		 	[name, function]
	Date: 27.12.2010	 		 	SVP HR + CORPORATE SERVICES
		 		 	INTERMUNE, INC.

  

	
	The Employee:
	
	/s/ Giacomo Di Nepi
	Giacomo Di Nepi
	Date: 28. 12. 2010

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