Document:

EXHIBIT 10.1

 

December 29, 2015

Revised on January 5, 2016

 

Ms. Diane J. Basile

28 Murray Lane

Harvard, MA  01451

 

Dear Diane:

 

It has been my pleasure to get acquainted over the last several weeks discussing the opportunity to have you join American Science & Engineering. We are truly excited with the prospect of having you join our team and feel strongly it will be a mutually rewarding relationship.

 

On behalf of American Science and Engineering, it is my pleasure to extend the offer to you to join American Science and Engineering, Inc., (“AS&E”) as Senior Vice President, Chief Financial Officer and Treasurer, reporting to Chuck Dougherty. The details of your offer are as follows:

 

Base Salary: Biweekly rate of $10,769.24 ($280,000 if annualized).

 

FY17 Short-Term Incentive Program: This program provides the opportunity for you to earn an annual bonus of up to 60% of your base salary, contingent on the Company’s performance, employee performance and service in the bonus year.  One half of the FY17 target bonus will be guaranteed and issued in the form of Restricted Stock Units subject to the terms and conditions of AS&E’s 2014 Equity and Incentive Plan and pending the approval of the Board of Directors. The vesting will occur on the date the FY17 STIP plan is certified, or on May 31, 2017, whichever occurs first, provided you remain employed by the Company and are in good standing at the time of vesting.

 

FY17 Long-Term Incentive Program: This program provides the opportunity for you to earn a bonus of up to 140% of your base salary over the plan performance period, contingent on plan goal attainment.

 

Employee Benefits Plan: As a full-time regular employee of AS&E, you are immediately eligible to participate in our employee benefits plan, which includes Medical Insurance, Dental Insurance, Vision Insurance, Life Insurance, Short and Long Term Disability, and paid holidays. You are eligible to accrue 20 days of vacation per year.

 

401(k) Plan:  The Company also offers a 401(k) savings and retirement plan with a Company match of 50% on the first 6% of employee contributions. Beginning immediately, provided you are at least 21 years of age, you will also be eligible to join AS&E’s 401(k) plan with Putnam Investments which includes a biweekly AS&E cash match based upon your biweekly contribution level and the Company’s profitability. Unless you opt out of the 401(k) program, or unless you specify a different contribution amount, three percent of your biweekly earnings will be payroll deducted, pre-tax, and deferred into the Company designated Putnam fund on your behalf.

 

As a condition of your employment, you must certify to us that you are free to enter into and fully perform the duties of your position and that you are not subject to an employment, confidentiality, non-competition or other agreement that would restrict your performance for AS&E.  You further must certify that your signing this letter of your employment with AS&E  does not violate any order, judgment or injunction applicable to you, or conflict with or breach any agreement to which you are a party or by which you are bound.  You also agree to sign and abide by the standard AS&E policies as presented upon hire and updated from time to time.

 

This employment offer is subject to your authorization to work as required by the Immigration Reform and Control Act of 1986; an I-9 verification form and a list of acceptable documents are enclosed. Please bring only original documents to Human Resources on your first day of employment for I-9 verification.

 

In addition, because some of our work is subject to government regulations, all employees are required to provide proof of citizenship. Therefore you will need to bring a Passport, Birth Certificate or a Naturalization Certificate with you to your new employee orientation on your first day.

 

 

In recognition of Personal Data Privacy laws you consent to: a) the processing of sensitive personal data about you to the limited extent, and for the purposes, necessary for the administration of your employment, such as but not limited to payroll and benefits; and b) the transfer worldwide of personal data held about you by AS&E to other employees and offices of AS&E’s worldwide organization and to third parties where disclosure to such third parties is required in the normal course of business or by law. Information “relating to you” or “about you” includes information about third parties such as your spouse and children (if any) which you provide to AS&E on their behalf. “Sensitive personal data” is the various categories of personal data identified by European and other data privacy laws.

 

AS&E is an Equal Opportunity and Affirmative Action Employer. If you are an individual with a disability or you are a veteran and would like us to be aware of your status, please complete the enclosed Voluntary Status Disclosure form and return it to the Human Resources Department.

 

Diane, we have assembled an outstanding team of people committed to providing the best in class practices and we would be pleased if you joined us. Beyond that, I feel that you will enjoy working with us here at AS&E. If you have any questions concerning the position or our Company policies, please do not hesitate to call me at 978-495-9200.

 

This revised offer will expire on January 7, 2016.  We look forward to your positive reply.

 

Sincerely,

 

 

	
/s/Lanning L. Levine
    	
 
    
	
Lanning L. Levine
    	
 
    
	
Senior Vice President,   Human Resources
    	
 
    

 

enclosures

 

 

ACCEPTED:

 

 

	
/s/Diane J. Basile
    	
 
    	
January 11, 2016
    
	
Ms. Diane J. Basile
    	
 
    	
Anticipated Start DateEX-10.1

 Exhibit 10.1 

EMPLOYMENT AGREEMENT 

This Employment Agreement (this “Agreement”) is made and entered into as of this 7th day of January 2016, by and between
Aegerion Pharmaceuticals, Inc., a Delaware corporation (the “Company”), and Mary T. Szela (the “Employee”). 

W I T N E S S E T H : 

WHEREAS, the Company desires to employ Employee as its Chief Executive Officer and Employee desires to accept such employment; and 

WHEREAS, the Company desires to enter into this Agreement regarding the terms of Employee’s employment, and Employee desires to enter
into this Agreement and to accept the terms and provisions of such employment, as embodied in this Agreement. 
 Section 1.
Definitions. 
 (a) “Accrued Obligations” shall mean (i) all accrued but unpaid Base Salary through the Date of
Termination, (ii) any unpaid or unreimbursed expenses incurred in accordance with Section 6 hereof, and (iii) any accrued but unused vacation time through the Date of Termination. 

(b) “Base Salary” shall mean the salary provided for in Section 4(a) hereof. 

(c) “Board” shall mean the Board of Directors of the Company. 

(d) “Confidentiality Agreement” shall mean the Company’s Confidentiality, Assignment and Noncompetition Agreement
attached hereto as Exhibit A. 
 (e) “Cause” shall mean (i) Employee’s failure (except where due to a
Disability), neglect, or refusal to perform in any material respect Employee’s duties and responsibilities, (ii) any act of Employee that has, or could reasonably be expected to have, the effect of injuring the business of the Company or
its affiliates in any material respect, (iii) Employee’s conviction of, or plea of guilty or no contest to: (x) a felony or (y) any other criminal charge that has, or could be reasonably expected to have, an adverse impact on the
performance of Employee’s duties to the Company or otherwise result in material injury to the reputation or business of the Company or its affiliates, (iv) the commission by Employee of an act of fraud or embezzlement against the Company
or its affiliates, or any other act that creates or reasonably could create negative or adverse publicity for the Company or its affiliates; (v) any material violation by Employee of the policies of the Company or its affiliates, including but
not limited to those relating to sexual harassment or business conduct, and those otherwise set forth in the manuals or statements of policy of the Company or its affiliates, (vi) Employee’s violation of federal or state securities laws,
or (vii) Employee’s breach of this Agreement or breach of the Confidentiality Agreement. 
 (f) “Code” shall mean
the Internal Revenue Code of 1986, as amended, and the rules and regulations promulgated thereunder. 
 (g) “Date of
Termination” shall mean the date on which Employee’s employment terminates. 
 (h) “Disability” shall mean
any physical or mental disability or infirmity of Employee that prevents the performance of Employee’s duties for a period of (i) ninety (90) consecutive days or (ii) one hundred twenty (120) non-consecutive days during any
twelve (12) month period. Any 

 
question as to the existence, extent, or potentiality of Employee’s Disability upon which Employee and the Company cannot agree shall be determined by a qualified, independent physician
selected by the Company and approved by Employee or, if applicable, her guardian (which approval shall not be unreasonably withheld). The determination of any such physician shall be final and conclusive for all purposes of this Agreement. 

(i) “Effective Date” shall mean January 6, 2016. 

(j) “Good Reason” shall mean, without Employee’s consent, (i) a material diminution in Employee’s duties, or
responsibilities, or assignment to Employee of duties not commensurate with her position, (ii) a reduction in Base Salary as set forth in Section 4(a) hereof (other than pursuant to an across-the-board reduction applicable to all similarly
situated executives), (iii) any requirement by or directive from the Company that Employee permanently relocate her principal residence or (iv) any other material breach of a provision of this Agreement by the Company (other than a
provision that is covered by clause (i), (ii) or (iii) above). Employee acknowledges and agrees that Employee’s exclusive remedy in the event of any breach of this Agreement shall be to assert Good Reason pursuant to the terms and
conditions of Section 7(e) hereof. Notwithstanding the foregoing, during the Term, in the event that the Company reasonably believes that Employee may have engaged in conduct that could constitute Cause hereunder, the Company may, in its sole
and absolute discretion, suspend Employee from performing Employee’s duties hereunder, and in no event shall any such suspension constitute an event pursuant to which Employee may terminate employment with Good Reason or otherwise constitute a
breach hereunder; provided, that no such suspension shall alter the Company’s obligations under this Agreement during such period of suspension. 

(k) “Release of Claims” shall mean a release of claims made by the Employee in favor of the Company and its affiliates in the
form attached hereto as Exhibit A (with any updates determined by the Company to be necessary to comply with applicable law) and the execution of which is a condition precedent to Employee’s eligibility for Severance Benefits, the
Accelerated Equity Benefit and the Pro-Rata Bonus Payment in the event her employment is terminated by the Company without Cause or by Employee for Good Reason, as described in Sections 7(d) and 7(e), or following a Sale Event, as described in
Section 7(g). 
 (l) “Severance Benefits” shall mean continued payment of Base Salary during the Severance Term,
payable in accordance with the Company’s regular payroll practices. 
 (m) “Severance Term” shall mean (i) the
twelve (12) month period, which commences on the first day following the Date of Termination following termination by the Company without Cause or by Employee for Good Reason or (ii) if the Date of Termination occurs within eighteen
(18) months after a Sale Event, the eighteen (18) month period, which commences on the first day following the Date of Termination following termination by the Company without Cause or by Employee for Good Reason. 

Section 2. Acceptance and Term. 

Commencing on the Effective Date, the Company agrees to employ Employee on an at-will basis (subject to the terms of Sections 7(d) and 7(e)
hereof), and Employee agrees to accept such employment and serve the Company, in accordance with the terms and conditions set forth herein. The term of employment shall commence on the Effective Date and continue until terminated by either party at
any time, subject to the provisions herein (referred to herein as the “Term”). 

  
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 Section 3. Position, Duties, and Responsibilities; Place of Performance. 

(a) Position, Duties, and Responsibilities. During the Term, Employee shall be employed and serve as Chief Executive Officer of the
Company (together with such other position or positions consistent with Employee’s title or as the Company shall specify from time to time) and shall have such duties and responsibilities commensurate therewith, and such other duties as may be
assigned and/or prescribed from time to time by the Board or its designee. On the Effective Date, the Board will appoint Employee to serve as a member of the Board in such class or classes of the Board as determined by the Board. During the Term,
the Board will nominate Employee for election to the Board by the Company’s stockholders; provided that Employee hereby submits written notice of resignation to the Board, effective as of the date on which Employee ceases to serve as Chief
Executive Officer. 
 (b) Performance. Employee shall devote her full business time, attention, skill, and best efforts to the
performance of her duties under this Agreement and shall not engage in any other business or occupation during the Term, including, without limitation, any activity that (x) conflicts with the interests of the Company, (y) interferes with
the proper and efficient performance of Employee’s duties for the Company, or (z) interferes with Employee’s exercise of judgment in the Company’s best interests. Notwithstanding the foregoing, nothing herein shall preclude
Employee from: (i) continuing to serve on existing boards of directors of Novo Nordisk, Coherus Biosciences and Suneva Medical or any replacement of these boards in the future provided that a replacement board shall not cause Employee to be
serving on more than two other public company boards unless approved by the Chairman of the Board; (ii) serving, with the prior consent and approval of the Chairman of the Board, as a member of no more than one other board of directors provided
that service on any such replacement board in the case of (i) above, or any additional boards in the case of (ii) above, complies with the factors contained in (x), (y) and (z) above or advisory boards (or their equivalents in
the case of a non-corporate entity) of non-competing businesses and charitable organizations; (iii) engaging in charitable activities and community affairs; and (iv) managing Employee’s personal investments and affairs;
provided, however, that the activities set out in clauses (i), (ii), (iii) and (iv) shall be limited by Employee so as not to interfere, individually or in the aggregate, with the performance of Employee’s duties and
responsibilities hereunder, pose a conflict of interest or violate any provision of this Agreement. Employee represents that she has provided the Company with a comprehensive list of all outside professional activities with which she is currently
involved or reasonably expects to become involved at the current time. In the event that, during her employment by the Company, the Employee desires to engage in other outside professional activities, not included on such list, Employee will, prior
to engaging in any such activities, first seek written approval from the Chairman of the Board and such approval shall not be unreasonably withheld. 

Section 4. Compensation.  

(a) Base Salary. In exchange for Employee’s satisfactory performance of her duties and responsibilities, Employee initially shall
be paid a semi-monthly Base Salary of $28,731.25 ($689,550.00 on an annualized basis), payable in accordance with the regular payroll practices of the Company. All payments in this Agreement are on a gross, pre-tax basis and shall be subject to all
applicable federal, state and local withholding, payroll and other taxes. 
 (b) Target Bonus. In addition to the Base Salary,
Employee will be eligible to earn an annual target bonus of up to 60% of her Base Salary (the “Target Bonus”). The actual amount of such bonus, if any, will be determined by the Board (or a committee thereof) based upon Company
performance and any other factors that the Board (or a committee thereof), in its discretion, deem appropriate. Employee’s achievement of such milestones, as well as the amount of any bonus, shall be determined by the Board in their sole
discretion. Typically, bonuses, if any, are paid out no later than 

  
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March 15 of the year following the applicable bonus year. Except as otherwise provided in Section 7 of this Agreement, Employee must be employed by the Company at the time of any such
bonus payment in order to be eligible for any such payment. 
 (c) Housing Allowance/Commuting Costs. Employee will continue to
maintain her permanent residence in the Chicago, Illinois area. Until such time, if any, as Employee relocates to the Cambridge, Massachusetts area, Employee will receive a monthly housing allowance of up to $7,200 per month for the rental of an
apartment in the Cambridge, Massachusetts area. The amount of the monthly housing allowance will be grossed up by the Company in order to fully offset the tax liability of the Employee for such allowance. Employee will also be reimbursed for airfare
and related travel expenses for commuting-related travel to and from the Chicago, Illinois area and the Cambridge, Massachusetts area. The Company agrees to purchase an American Airlines Airpass (or a comparable pass on another airline selected by
the Employee) for Employee for use during the term of this Agreement. If, prior to the 12-month anniversary of the Effective Date, Employee resigns without Good Reason or the Company terminates Employee’s employment for Cause, then Employee
agrees to repay to the Company the net amount of the housing allowance provided through the Date of Termination and all airfare and travel related expenses reimbursed under this Subsection provided through the Date of Termination within 30 days of
such Date of Termination. 
 (d) Stock Options/Equity Grants. On January 7, 2016, the Company will grant Employee an option to
purchase 600,000 shares of the Company’s common stock, $0.001 par value per share (the “Common Stock”), issued pursuant to the terms of the Company’s Inducement Award Stock Option Plan (or a successor plan, if any) (the
“Inducement Plan”) and/or the 2010 Stock Option and Incentive Plan as amended through the date hereof (the “2010 Stock Option and Incentive Plan”) and subject to the terms of a stock option agreement thereunder (the
“Option Award”). The options subject to the Option Award shall have an exercise price equal to the closing trading price of the Common Stock on the date of grant. The Option Award will be subject to vesting in accordance with the
terms of the Inducement Plan and/or the 2010 Stock Option and Incentive Plan, as the case may be, Section 7(d) of this Agreement and the stock option agreement(s); specifically the Option Award will vest over four years, with twenty-five
percent (25%) vesting on the one (1)-year anniversary of the grant date and the remaining options vesting in equal monthly installments over the remaining three (3) years of the four (4)-year vesting period; provided, however,
Employee must remain continuously employed through the applicable vesting date. The Option Award shall be subject to the terms set forth in the Option Award, the terms of the Inducement Plan and/or the 2010 Stock Option and Incentive Plan, as the
case may be, any applicable shareholder and/or option holder agreements and other restrictions and limitations generally applicable to Common Stock of the Company or equity awards held by Company executives and/or employees or otherwise imposed by
law. 
 (e) Annual Tax and Financial Planning Stipend. During the Term, the Company will, subject to receipt of appropriate
documentation, reimburse Employee up to $15,000 on an annual basis to be used for tax and financial planning, prorated for any partial year of employment. 

Section 5. Employee Benefits.  

During the Term, Employee shall be eligible to participate in health insurance and other benefits provided generally to similarly situated
employees of the Company, subject to the terms and conditions of the applicable benefit plans (which shall govern). In addition to holidays recognized by the Company, Employee also shall be eligible to earn five (5) weeks of vacation per year.
Nothing contained herein shall be construed to limit the Company’s ability to amend, suspend, or terminate any employee benefit plan or policy at any time without providing Employee notice, and the right to do so is expressly reserved. 

  
 4 

 Section 6. Reimbursement of Business Expenses. 

During the Term, the Company shall pay (or promptly reimburse Employee) for documented, out-of-pocket expenses reasonably incurred by Employee
in the course of performing her duties and responsibilities hereunder, which are consistent with the Company’s policies in effect from time to time with respect to business expenses, subject to the Company’s requirements with respect to
reporting of such expenses. 
 Section 7. Termination of Employment. 

(a) General. Employee’s employment with the Company shall terminate upon the earliest to occur of: (i) Employee’s death,
(ii) a termination by reason of a Disability, (iii) a termination by the Company with or without Cause, and (iv) a termination by Employee with or without Good Reason. 

(b) Termination Due to Death or Disability. Employee’s employment under this Agreement shall terminate automatically upon
Employee’s death. The Company also may terminate Employee’s employment immediately upon the occurrence of a Disability, such termination to be effective upon Employee’s receipt of written notice of such termination. In the event of
Employee’s termination as a result of Employee’s death or Disability, except as otherwise provided in Section 7(g), Employee’s or Employee’s estates or beneficiaries, as the case may be, sole and exclusive remedy shall be
receipt of the Accrued Obligations, and Employee shall have no further rights to any compensation or any other benefits under this Agreement. 

(c) Termination by the Company with Cause. 

(i) The Company may terminate Employee’s employment at any time with Cause, effective upon Employee’s receipt of
written notice of such termination; provided, however, that with respect to any Cause termination relying on clause (i), (ii), (v), or (vii) of the definition of Cause set forth in Section 1(e) hereof, to the extent that such
act or acts or failure or failures to act are curable, as determined by the Board in its sole discretion, Employee shall be given thirty (30) days’ written notice by the Company of its intention to terminate her with Cause, such notice to
state the act or acts or failure or failures to act that constitute the grounds on which the proposed termination with Cause is based, and such termination shall be effective at the expiration of such thirty (30) day notice period unless
Employee has fully cured such act or acts or failure or failures to act, to the Company’s complete satisfaction, that give rise to Cause during such period. 

(ii) In the event that the Company terminates Employee’s employment with Cause, Employee shall be entitled only to the
Accrued Obligations. Following such termination of Employee’s employment with Cause, except as set forth in this Section 7(c)(ii) or as otherwise provided in Section 7(g), Employee shall have no further rights to any compensation or
any other benefits under this Agreement. For the avoidance of doubt, Employee’s sole and exclusive remedy upon a termination of employment by the Company with Cause shall be receipt of the Accrued Obligations. 

(d) Termination by the Company without Cause. The Company may terminate Employee’s employment at any time without Cause, effective
upon Employee’s receipt of written notice of such termination. In the event that Employee’s employment is terminated by the Company without Cause (other than due to death or Disability) and provided that she fully executes and does not
revoke an effective Release of Claims as described in Section 7(h), Employee shall be eligible for: 

  
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 (i) The Accrued Obligations; and 

(ii) The Severance Benefits. 

Notwithstanding the foregoing, the Severance Benefits shall immediately terminate, and the Company shall have no further obligations to Employee with respect
thereto, in the event that Employee breaches any provision of the Confidentiality Agreement or the Release of Claims. Any such termination of payment or benefits shall have no effect on the Release of Claims or any of Employee’s post-employment
obligations to the Company. Following such termination of Employee’s employment by the Company without Cause, except as set forth in this Section 7(d), Employee shall have no further rights to any compensation or any other benefits under
this Agreement. For the avoidance of doubt, except as otherwise provided in Section 7(g), Employee’s sole and exclusive remedy upon a termination of employment by the Company without Cause shall be receipt of (i) the Severance
Benefits, subject to her execution of the Release of Claims, and (ii) the Accrued Obligations, subject to her execution of the Release of Claims. 
 If
the Company makes overpayments of Severance Benefits, Employee promptly shall return any such overpayments to the Company and/or hereby authorizes deductions from future Severance Benefit amounts. 

(e) Termination by Employee with Good Reason. Employee may terminate her employment with Good Reason by providing the Company thirty
(30) days’ written notice setting forth in reasonable specificity the event that constitutes Good Reason, which written notice, to be effective, must be provided to the Company within thirty (30) days of the occurrence of such event.
During such thirty (30) day notice period, the Company shall have a cure right (if curable), and if not cured within such period, Employee’s termination will be effective upon the expiration of such cure period, and Employee shall be
entitled to the same payments and benefits as provided in Section 7(d) hereof, subject to the same conditions on payment and benefits as described in Section 7(d) hereof. Following such termination of Employee’s employment by Employee
with Good Reason, except as set forth in this Section 7(e) or as otherwise provided in Section 7(g), Employee shall have no further rights to any compensation or any other benefits under this Agreement. For the avoidance of doubt, except
as otherwise provided in Section 7(g), Employee’s sole and exclusive remedy upon a termination of employment with Good Reason shall be receipt of the Severance Benefits, subject to her execution of the Release of Claims, and (ii) the
Accrued Obligations, subject to her execution of the Release of Claims. 
 (f) Termination by Employee without Good Reason. Employee
may terminate her employment without Good Reason by providing the Company sixty (60) days’ written notice of such termination. In the event of a termination of employment by Employee under this Section 7(f), Employee shall be entitled
only to the Accrued Obligations. In the event of termination of Employee’s employment under this Section 7(f), the Company may, in its sole and absolute discretion, by written notice accelerate such date of termination without changing the
characterization of such termination as a termination by Employee without Good Reason. Following such termination of Employee’s employment by Employee without Good Reason, except as set forth in this Section 7(f) or as otherwise provided
in Section 7(g), Employee shall have no further rights to any compensation or any other benefits under this Agreement. For the avoidance of doubt, except as otherwise provided in Section 7(g), Employee’s sole and exclusive remedy upon
a termination of employment by Employee without Good Reason shall be receipt of the Accrued Obligations. 
 (g) Termination following a
Sale Event. In the event Employee’s employment is terminated within eighteen (18) months following a Sale Event (as such term is defined in the Inducement Plan and/or the 2010 Stock Option and Incentive Plan, as the case may be)
(a) by the Company for any reason other than as a result of Employee’s death or Disability pursuant to Section 7(b) or a with Cause 

  
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termination relying on clause (iii), (iv) or (vi) of the definition of Cause set forth in Section 1(e) hereof or (b) by Employee with Good Reason pursuant to
Section 7(e), provided that she fully executes and does not revoke an effective Release of Claims as described in Section 7(h) and continues to comply with the Confidentiality Agreement, Employee shall be eligible for (in lieu of, and
not in addition to, any payments described in Section 7(c), (d), or (e) of this Agreement): 
 (i) The Accrued Obligations;

 (ii) The Severance Benefits; 

(iii) acceleration of the vesting of 100% of Employee’s then outstanding unvested equity awards, such that all unvested equity awards
vest and become fully exercisable or non-forfeitable as of the Date of Termination (the “Accelerated Equity Benefit”), in which case Employee shall have ninety (90) days from the Date of Termination to exercise the vested
equity awards; and 
 (iv) payment of a pro rata portion of Employee’s target annual bonus for the year in which the Date of
Termination occurs, the amount of which is calculated based on the number of days she is employed by the Company in the year of the Date of Termination and based upon the determination by the Board of achievement of the Company against the
Company’s corporate goals for such year pursuant to Section 4(b) of this Agreement (the “Pro Rata Bonus Payment”). 

Notwithstanding the foregoing, the Severance Benefits shall immediately terminate, and the Company shall have no further obligations to Employee with respect
thereto, in the event that Employee breaches any provision of the Confidentiality Agreement or the Release of Claims. Any such termination of payment or benefits shall have no effect on the Release of Claims or any of Employee’s post-employment
obligations to the Company. If the Company makes overpayments of Severance Benefits, Employee promptly shall return any such overpayments to the Company and/or hereby authorizes deductions from future Severance Benefit amounts. 

(h) Release. Notwithstanding any provision herein to the contrary, the payment of the Severance Benefits and the Pro Rata Bonus
Payment, and the provision of the Accelerated Equity Benefit, pursuant to subsection (d), (e) or (g) of this Section 7, shall be conditioned upon Employee’s execution, delivery to the Company, and non-revocation of the Release of
Claims (and the expiration of any revocation period contained in such Release of Claims) in accordance with the time limits set forth therein (and, in all events, within sixty (60) days following the Date of termination). If Employee fails to
execute the Release of Claims in such a timely manner, or timely revokes Employee’s acceptance of such release following its execution, Employee shall not be entitled to any of the Severance Benefits, the Pro Rata Bonus Payment, or the
Accelerated Equity Benefit. Payment of the Severance Benefits will commence on the first regular Company payday that is at least five (5) business days following the date the Company receives a timely, effective and non-revocable Release of
Claims (the “Payment Date”); provided, however, that the first payment will be retroactive to the day immediately following the Date of Termination. Payment of the Pro Rata Bonus Payment will also be made on the Payment Date.
Notwithstanding the foregoing, to the extent that any portion of the Severance Benefits or Pro Rata Bonus Payment constitutes “non-qualified deferred compensation” subject to Section 409A of the Code, any payment of such portion
scheduled to occur prior to the sixtieth (60th) day following the date of Employee’s termination of employment hereunder, but for the condition on executing the Release of Claims as set forth herein, shall not be made until the first
regularly scheduled payroll date following such sixtieth (60th) day, after which any remaining such benefits shall thereafter be provided to Employee according to the applicable schedule set forth herein.  

  
 7 

 Section 8. Confidentiality Agreement; Cooperation. 

(a) Confidentiality Agreement. As a condition of Employee’s employment with the Company under the terms of this Agreement, Employee
has executed and delivered to the Company a Confidentiality Agreement. The parties hereto acknowledge and agree that this Agreement and the Confidentiality Agreement shall be considered separate contracts. In addition, Employee represents and
warrants that she shall be able to and will perform the duties of this position without utilizing any confidential and/or proprietary information that Employee may have obtained in connection with employment with any prior employer, and that she
shall not (i) disclose any such information to the Company, or (ii) induce any Company employee to use any such information, in either case in violation of any confidentiality obligation, whether by agreement or otherwise. 

(b) Litigation and Regulatory Cooperation. During and after Employee’s employment, Employee shall cooperate fully with the Company
in the defense or prosecution of any claims or actions now in existence or which may be brought in the future against or on behalf of the Company which relate to events or occurrences that transpired while the Company employed Employee, provided,
that the Employee will not have an obligation under this paragraph with respect to any claim in which the Employee has filed directly against the Company or related persons or entities or if such cooperation would be materially adverse to her own
legal interests. The Employee’s full cooperation in connection with such claims or actions shall include, but not be limited to, being available to meet with counsel to prepare for discovery or trial and to act as a witness on behalf of the
Company at mutually convenient times. During and after Employee’s employment, Employee also shall cooperate fully with the Company in connection with any investigation or review of any federal, state or local regulatory authority as any such
investigation or review relates to events or occurrences that transpired while Employee was employed by the Company, provided Employee will not have any obligation under this paragraph with respect to any claim in which Employee has filed directly
against the Company or related persons or entities. The Company shall reimburse Employee for any reasonable out-of-pocket expenses incurred in connection with Employee’s performance of obligations pursuant to this Section 8(b). 

Section 9. Taxes. 

The Company may withhold from any payments made under this Agreement all applicable taxes, including but not limited to income, employment, and
social insurance taxes, as shall be required by law. Employee acknowledges and represents that the Company has not provided any tax advice to her in connection with this Agreement and that Employee has been advised by the Company to seek tax advice
from Employee’s own tax advisors regarding this Agreement and payments that may be made to him pursuant to this Agreement, including specifically, the application of the provisions of Section 409A of the Code to such payments. The Company
shall have no liability to Employee or to any other person if any of the provisions of this Agreement are determined to constitute deferred compensation subject to Section 409A but that do not satisfy an exemption from, or the conditions of,
that section. 
 Section 10. Additional Section 409A Provisions.  

Notwithstanding any provision in this Agreement to the contrary: 

(a) If at the time of the Employee’s separation from service within the meaning of Section 409A of the Code, the Company determines
that the Employee is a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code, then to the extent any payment or benefit that the Employee becomes entitled to under this Agreement on account of the
Employee’s separation from service is “non-qualified deferred compensation” subject to Section 409A of the Code and not otherwise 

  
 8 

 
exempt, such payment shall not be payable and such benefit shall not be provided until the date that is the earlier of (i) six months and one day after the Employee’s separation from
service, or (ii) the Employee’s death. If any such delayed cash payment is otherwise payable on an installment basis, the first payment shall include a catch-up payment covering amounts that would otherwise have been paid during the
six-month period but for the application of this provision, and the balance of the installments shall be payable in accordance with their original schedule. 

(b) Each payment in a series of payments hereunder shall be deemed to be a separate payment for purposes of Section 409A of the Code.
Neither the Company nor Employee shall have the right to accelerate or defer the delivery of any such payments except to the extent specifically permitted or required by Section 409A. 

(c) To the extent that any right to reimbursement of expenses or payment of any benefit in-kind under this Agreement constitutes nonqualified
deferred compensation (within the meaning of Section 409A of the Code), (i) any such expense reimbursement or payment shall be made by the Company no later than the last day of the taxable year following the taxable year in which such
expense was incurred by Employee, (ii) the right to reimbursement, payment or in-kind benefits shall not be subject to liquidation or exchange for another benefit, and (iii) the amount of expenses eligible for reimbursement, payment or
in-kind benefits provided during any taxable year shall not affect the expenses eligible for reimbursement or in-kind benefits to be provided in any other taxable year; provided, that the foregoing clause shall not be violated with regard to
expenses reimbursed under any arrangement covered by Section 105(b) of the Code solely because such expenses are subject to a limit related to the period the arrangement is in effect. 

(d) To the extent that any payment or benefit described in this Agreement constitutes “non-qualified deferred compensation” under
Section 409A of the Code, and to the extent that such payment or benefit is payable upon the Employee’s termination of employment, then such payments or benefits shall be payable only upon the Employee’s “separation from
service.” The determination of whether and when a separation from service has occurred shall be made in accordance with the presumptions set forth in Treasury Regulation Section 1.409A-1(h). 

(e) The parties intend that this Agreement will be administered in accordance with Section 409A of the Code. To the extent that any
provision of this Agreement is ambiguous as to its compliance with Section 409A of the Code, the provision shall be read in such a manner so that all payments hereunder comply with Section 409A of the Code. The parties agree that this
Agreement may be amended, as reasonably requested by either party, and as may be necessary to fully comply with Section 409A of the Code and all related rules and regulations in order to preserve the payments and benefits provided hereunder
without additional cost to either party. While the payments and benefits provided hereunder are intended to be structured in a manner to avoid the implication of any penalty taxes under Section 409A of the Code, in no event whatsoever shall the
Company or any of its affiliates be liable for any additional tax, interest, or penalties that may be imposed on Employee as a result of Section 409A of the Code or any damages for failing to comply with Section 409A of the Code (other
than for withholding obligations or other obligations applicable to employers, if any, under Section 409A of the Code). 

Section 11. Successors and Assigns. 

(a) The Company. This Agreement shall inure to the benefit of the Company and its respective successors and assigns. This Agreement may
not be assigned by the Company without Employee’s prior consent. 

  
 9 

 (b) Employee. Employee’s rights and obligations under this Agreement shall not be
transferable by Employee by assignment or otherwise, without the prior written consent of the Company; provided, however, that if Employee shall die, all cash amounts then payable to Employee hereunder shall be paid in accordance with
the terms of this Agreement to Employee’s devisee, legatee, or other designee, or if there be no such designee, to Employee’s estate. 

Section 12. Waiver and Amendments. 

Any waiver, alteration, amendment, or modification of any of the terms of this Agreement shall be valid only if made in writing and signed by
each of the parties hereto; provided, however, that any such waiver, alteration, amendment, or modification must be consented to on the Company’s behalf by the Board. No waiver by either of the parties hereto of their rights
hereunder shall be deemed to constitute a waiver with respect to any subsequent occurrences or transactions hereunder unless such waiver specifically states that it is to be construed as a continuing waiver. 

Section 13. Severability. 

If any covenants or such other provisions of this Agreement are found to be invalid or unenforceable by a final determination of a court of
competent jurisdiction, (a) the remaining terms and provisions hereof shall be unimpaired, and (b) the invalid or unenforceable term or provision hereof shall be deemed replaced by a term or provision that is valid and enforceable and that
comes closest to expressing the intention of the invalid or unenforceable term or provision hereof. 
 Section 14. Governing Law and
Jurisdiction. 
 This is a Massachusetts contract and shall be construed under and be governed in all respects by the laws of the
Commonwealth of Massachusetts without giving effect to the conflict of laws principles of such state. With respect to any disputes concerning federal law, such disputes shall be determined in accordance with the law as it would be interpreted and
applied by the United States Court of Appeals for the First Circuit. To the extent that any court action is initiated to enforce this Agreement, the parties hereby consent to the non-exclusive jurisdiction of the state and federal courts of the
Commonwealth of Massachusetts. Accordingly, with respect to any such court action, Employee (a) submits to the personal jurisdiction of such courts; (b) consents to service of process; and (c) waives any other requirement (whether
imposed by statute, rule of court, or otherwise) with respect to personal jurisdiction or service of process. 
 Section 15.
Notices. 
 (a) Place of Delivery. Every notice or other communication relating to this Agreement shall be in writing, and
shall be mailed to or delivered to the party for whom or which it is intended at such address as may from time to time be designated by it in a notice mailed or delivered to the other party as herein provided; provided, that unless and until
some other address be so designated, all notices and communications by Employee to the Company shall be mailed or delivered to the Company at its principal executive office, and all notices and communications by the Company to Employee may be given
to Employee personally or may be mailed to Employee at Employee’s last known address, as reflected in the Company’s records. 

(b) Date of Delivery. Any notice so addressed shall be deemed to be given or received (i) if delivered by hand, on the date of
such delivery, (ii) if mailed by courier or by overnight mail, on the first business day following the date of such mailing, and (iii) if mailed by registered or certified mail, on the third business day after the date of such mailing.

  
 10 

 Section 16. Section Headings. 

The headings of the sections and subsections of this Agreement are inserted for convenience only and shall not be deemed to constitute a part
thereof or affect the meaning or interpretation of this Agreement or of any term or provision hereof. 
 Section 17. Entire
Agreement. 
 This Agreement, together with Confidentiality Agreement, the Inducement Plan, the 2010 Stock Option and Incentive Plan, and
any stock option agreement entered into between the Company and Employee thereunder, constitute the entire understanding and agreement of the parties hereto regarding the employment of Employee. This Agreement supersedes all prior negotiations,
discussions, correspondence, communications, understandings, and agreements between the parties (including without limitation that certain Term Sheet dated as of December 10, 2015 and any offer letter given to Employee) relating to the subject
matter of this Agreement. 
 Section 18. Survival of Operative Sections. 

Upon any termination of Employee’s employment, the provisions of Section 7 through Section 19 of this Agreement (together with
any related definitions set forth in Section 1 hereof) shall survive to the extent necessary to give effect to the provisions thereof. 

Section 19. Counterparts. 

This Agreement may be executed in two or more counterparts, each of which shall be deemed to be an original but all of which together shall
constitute one and the same instrument. The execution of this Agreement may be by actual or facsimile signature. 
 Section 20.
Gender Neutral. 
 Wherever used herein, a pronoun in the masculine gender shall be considered as including the feminine gender unless
the context clearly indicates otherwise. 

  
 11 

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

			
	 AEGERION PHARMACEUTICALS, INC.

		
		 	 /s/ Sandford Smith

	By:	 	Sandford Smith
	Title:	 	Chairman of the Board
	
	 EMPLOYEE

		
		 	 /s/ Mary T. Szela

	By:	 	Mary T. Szela

  
 12 

 EXHIBIT A 

General Release and Waiver of Claims 

In exchange for the severance benefits to be provided to me under the Employment Agreement between me and Aegerion Pharmaceuticals, Inc. (the
“Company”), dated as of January 7, 2015 (the “Employment Agreement”), to which I would not otherwise be entitled, on my own behalf and that of my heirs, executors, administrators, beneficiaries, personal representatives and
assigns, I agree that this General Release and Waiver of Claims (the “Release of Claims”) shall be in complete and final settlement of any and all causes of action, rights and claims, whether known or unknown, accrued or unaccrued,
contingent or otherwise, that I have had in the past, now have, or might now have, in any way related to, connected with or arising out of my employment or its termination, under the Employment Agreement, or pursuant to Title VII of the Civil Rights
Act of 1964, the Americans with Disabilities Act, the Age Discrimination in Employment Act, as amended by the Older Workers Benefit Protection Act, the Worker Adjustment and Retraining Notification Act, the Employee Retirement Income Security Act,
the wage and hour, wage payment and fair employment practices laws and statutes of the Commonwealth of Massachusetts (each as amended from time to time), and/or any other federal, state or local law, regulation or other requirement (collectively,
the “Claims”), and I hereby release and forever discharge the Company, its affiliates and all of their respective past, present and future directors, shareholders, officers, members, managers, general and limited partners,
employees, employee benefit plans, administrators, trustees, agents, representatives, successors and assigns, and all others connected with any of them, both individually and in their official capacities, from, and I hereby waive, any and all such
Claims. This release shall not apply to (a) any claims that arise after I sign this Release of Claims, including my right to enforce the terms of this Release of Claims; (b) any claims that may not be waived pursuant to applicable law;
(c) any right to indemnification that I may have under the certificate of incorporation or by-laws of the Company, and any Indemnification Agreement between me and the Company or any insurance policies maintained by the Company; or (d) any
right to receive any vested benefits under the terms of any employee benefit plans and my award agreements thereunder. 
 Nothing contained in this Release
of Claims shall be construed to prohibit me from filing a charge with or participating in any investigation or proceeding conducted by the federal Equal Employment Opportunity Commission or a comparable state or local agency, provided, however, that
I hereby agree to waive my right to recover monetary damages or other individual relief in any charge, complaint or lawsuit filed by me or by anyone else on my behalf. 

In signing this Release of Claims, I acknowledge my understanding that I may consider the terms of this Release of Claims for up to [twenty-one
(21)/forty-five (45)]1 days from the date I receive it and that I may not sign this Release of Claims until after the date my employment with the Company terminates. I also acknowledge that I am
hereby advised by the Company to seek the advice of an attorney prior to signing this Release of Claims; that I have had sufficient time to consider this Release of Claims and to consult with an attorney, if I wished to do so, or to consult with any
other person of my choosing before signing; and that I am signing this Release of Claims voluntarily and with a full understanding of its terms. 

 

	1 	To be determined by the Company at the time of termination. 

 I further acknowledge that, in signing this Release of Claims, I have not relied on any promises or
representations, express or implied, that are not set forth expressly in the Release of Claims. I understand that I may revoke this Release of Claims at any time within seven (7) days of the date of my signing by written notice to the Chairman
of the Company’s Board of Directors and that this Release of Claims will take effect only upon the expiration of such seven-day revocation period and only if I have not timely revoked it. 

Intending to be legally bound, I have signed this Release of Claims under seal as of the date written below. 

 

			
	 Signature:
	 	
 

			
		
	 Name:
	 	
 

			
		
	 Date Signed:
	 	  

  
 2

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