Document:

xoma-ex108_113.htm

Exhibit 10.8

 

FIRST AMENDMENT TO OFFICER EMPLOYMENT AGREEMENT

 

This is AMENDMENT NO. 1 (this “Amendment”) to that certain OFFICER EMPLOYMENT AGREEMENT effective as of April 27, 2018 (the “Employment Agreement”), by and between XOMA Corporation, a Delaware company, having an address of 2200 Powell Street, Suite 310, Emeryville, CA 94608 (“XOMA”) and Deepshikha Datta ("Employee"). Terms used but not otherwise defined herein shall have the meanings ascribed to them in the Employment Agreement.

 

WHEREAS, the Parties desire to amend the terms of the Employment Agreement to amend Section 4(a) the Agreement to replace the separate target annual cash bonus of $100,000 that is tied to the deal-related component of the CAGs (to be determined from time to time by the Board) with a one-time stock option grant to purchase 24,000 shares of the Company’s common stock;

 

NOW, THEREFORE, in consideration of the foregoing premises and the mutual covenants herein contained and other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

 

Section 1.  Amendment.  Pursuant to Section 13 of the Employment Agreement, the following sections of the Employment Agreement are hereby amended as follows:

 

	
 
	
(a)
	
Section 4(a) of the Employment Agreement, entitled “Compensation” is hereby amended and restated to read in its entirety as follows:
	
 

 

“Employee will receive for services to be rendered hereunder base salary paid at the rate of $325,000 per year, less applicable payroll deductions and withholdings (the "Base Salary"), paid on XOMA's ordinary payroll cycle. In addition, Employee shall be eligible to participate in XOMA's Corporate Achievement Goals plan ("CAGs"), as it may be amended from time to time in accordance with its terms, at an initial target annual rate of 35% of Employee's Base Salary; plus a one-time special grant of an option to purchase 24,000 shares of XOMA common stock of which one-third of such grant (i.e., 8,000 options) will vest on the first anniversary of the date of grant and the remaining options of which will vest in equal monthly increments over the next twenty four (24) months.”

 

Section 2. Effect of Amendment.  Except as expressly provided for herein, all terms and conditions of the Employment Agreement shall remain in full force and effect.

 

Section 3. Governing Law.  The validity, construction and interpretation of this Amendment and any determination of the performance which it requires shall be governed by and construed in accordance with the laws of the State of California without any reference to any rules of conflicts of laws.

 

Section 4. Counterparts.  This Amendment may be executed in counterparts, each of which shall be deemed an original, but all of which together shall be deemed to be one and the same Amendment. A signed copy of this Amendment delivered by facsimile, e-mail or other means of electronic transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Amendment.

 

IN WITNESS WHEREOF, the Parties hereto have executed this First Amendment to Officer Employment Agreement effective as of July 19, 2018.

 

	
EMPLOYEE
	
XOMA CORPORATION

	
 
	
 
	
 
	
 

	
 
	
By:
	
 
	
 

	
Deepshikha Datta
	
Name:
	
 
	
Jim Neal

	
 
	
Title:
	
 
	
CEO

 

2xene-ex103_114.htm

Exhibit 10.3

July 25, 2018

Genentech, Inc.

1 DNA Way

South San Francisco

California, USA 94080

	
 
	
Re:
	
Collaborative Research and License Agreement between Xenon Pharmaceuticals Inc. (“Xenon”) and Genentech, Inc. (“GNE”) together with F. Hoffmann-La Roche Ltd (“Roche”) (GNE and Roche, collectively, “Genentech”), made as of December 22, 2011, as amended (prior to this Amendment) (the “Agreement”)

Attention: Kate Skrable, Alliance Management

Dear Kate,

Further to our recent discussions and in accordance with Section 16.14 of the Agreement, and in consideration of the premises and mutual covenants contained herein, Xenon and Genentech agree as follows: 

	
1.
	
Letter Amendment #7

This amendment to the Agreement shall hereinafter be referred to as the “Letter Amendment #7”.  Except as specifically defined below, capitalized terms used in this Letter Amendment #7 shall have the same meaning as ascribed to such terms in the Agreement.

	
2.
	
DEFINITIONS

For purposes of this Letter Amendment #7:

	
2.1
	
“Amendment Date” means July 25, 2018.

	
2.2
	
“Final Patent Review” means the patent review of the NaV1.6 IP (excluding the patents covering the patent applications listed in Exhibit A, which have already been subject to review) following the process set out in the Letter Agreement of May 8, 2017, which review has been completed prior to the Amendment Date.

	
2.3
	
“ [†] Assay” means the assay described in Exhibit B to this Letter Amendment #7.

	
2.4
	
“[†] Model” means the [†].

	
2.5
	
“NaV1.6 Compound(s)” means [†].

	
2.6
	
“NaV1.6 IP” has the meaning set out in Letter Amendment #4 up to the NaV1.6 Research Program End Date, including the subject matter of the patent applications listed in Exhibit A and any other patent applications that claim priority to one or more of the patent applications listed in Exhibit A, and any other Intellectual Property Controlled by Xenon arising from the NaV1.6 Research Program identified in the Final Patent Review.

[†] DESIGNATES PORTIONS OF THIS DOCUMENT THAT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED SEPARATELY WITH THE COMMISSION

- 2 -

	
2.7
	
“NaV1.6 Licensee” means a Third Party licensed by Xenon to make, use, sell, offer for sale, or import products containing NaV1.6 Compounds above the NaV1.7 Threshold. A “NaV1.6 Licensee” does not include [†].

	
2.8
	
“NaV1.6 Research Program End Date” means [†].

	
2.9
	
“NaV1.7 Threshold” means [†] as measured using the [†] Assay.

	
2.10
	
“Pain Field” means treating the following diseases by modulating NaV1.7: pain indications and pain associated with other diseases or conditions.

	
3.
	
Wind-down of the NaV1.6 Research Program

	
3.1
	
As of the NaV1.6 Research Program End Date, the NaV1.6 Research Program shall terminate. Thereafter, Xenon may conduct its own independent NaV1.6 research program.

	
3.2
	
As of the Amendment Date, Xenon’s obligations to disclose Xenon Research Data under Section 4 of Letter Amendment #4 shall cease; and Section 4.2 of Letter Amendment #4 is hereby amended and restated as follows:

“All Xenon Research Data disclosed to Genentech pursuant to Letter Amendment #4 shall be held and maintained as Confidential Information of Xenon in accordance with Article 11 of the Agreement, subject to the license grant to Genentech under Section 6(c) below.”

	
3.3
	
As of the Amendment Date, the Parties shall cease their patent cooperation under Section 9 of Letter Amendment #4, and Section 9 of Letter Amendment #4 is hereby terminated.

	
4.
	
Royalties

	
4.1
	
For products containing NaV1.6 Compounds above the NaV1.7 Threshold (except for Excluded Collaboration Compounds), Xenon shall pay Genentech a royalty on Net Sales of such products on a product by product basis and on a country by country basis, at the percentage rate set out below.  The royalties shall be paid for a period of ten (10) years commencing on the date of First Commercial Sale of such product(s) in such country.

Annual Net Sales up to and including $[†]:       [†] percent ([†]%)

Annual Net Sales above $[†]:        [†] percent ([†]%)

	
4.2
	
The calculation, reporting, payment and audit rights respecting such royalty shall be as if sales by Xenon or a licensee of products containing NaV1.6 Compounds above the NaV1.7 Threshold were sales of a Licensed Product by Genentech or a licensee, and Sections 8.11, Royalty Reports; Payments; 8.12, Audits; 8.13, Tax Matters; 8.14, Currency Exchange; 8.15, Late Payments; 8.16, Mode of Payment; 8.17, No Set Off; and 8.20, Sublicensees; shall apply to such royalties, mutatis mutandis.

[†] DESIGNATES PORTIONS OF THIS DOCUMENT THAT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED SEPARATELY WITH THE COMMISSION

- 3 -

	
5.
	
LICENSES

	
5.1
	
Xenon’s License

	
 
	
(a)
	
Section 6(a) of Letter Amendment #4 is hereby amended and restated as follows: 

“(a)License to Xenon.

Genentech hereby grants to Xenon under the Know-How forming a part of the Genentech Collaboration IP, a non-exclusive, irrevocable, perpetual, world-wide, sublicensable license under such Know-How that is necessary or useful to make, use, sell, offer for sale, and import NaV1.6 Compounds above the NaV1.7 Threshold (except for Excluded Collaboration Compounds) and products containing NaV1.6 Compounds above the NaV1.7 Threshold (except for Excluded Collaboration Compounds).

Xenon may grant sublicenses to Third Parties of its licensed rights under Section 6(a) of Letter Amendment #4 without the prior consent of Genentech, such sublicense rights to be subject to the terms and conditions, mutatis mutandis, as are set forth in Section 9.3 of the Agreement.”

	
 
	
(b)
	
NaV1.6 Compound(s) above the NaV1.7 Threshold (whether or not Collaboration Compounds) and products containing NaV1.6 Compounds above the NaV1.7 Threshold (except for Excluded Collaboration Compounds) are not subject to the restrictions in Section 3.8 of the Agreement.

	
 
	
(c)
	
Section 6(b) and Section 7 of Letter Amendment #4 are hereby deleted.

	
5.2
	
Genentech’s Licenses in NaV1.6 IP and [†] Model

	
 
	
(a)
	
The licenses under Section 6(c)(i), (ii) and (iii) of Letter Amendment #4 are hereby amended and restated as follows:

“(c)License to Genentech.

Xenon hereby grants to Genentech:

	
 
	
(i)
	
under NaV1.6 IP, a royalty-free, non-exclusive, world-wide license to make, use, sell, offer for sale and import Compounds at or under the NaV1.7 Threshold and products containing Compounds at or under the NaV1.7 Threshold, for all uses and indications except epilepsy; and

[†] DESIGNATES PORTIONS OF THIS DOCUMENT THAT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED SEPARATELY WITH THE COMMISSION

- 4 -

	
 
	
(ii)
	
the right to grant sublicenses to Third Parties of its licensed rights under subparagraph 6(c)(i) above without the prior consent of Xenon, such sublicense rights to be subject to the same terms and conditions, mutatis mutandis, as are set forth in Sections 9.3 and 9.4 of the Agreement.”

	
 
	
(b)
	
Xenon hereby grants Genentech the irrevocable, non-exclusive license to use the NaV1.6 IP and the [†] Model for any internal research purposes.

	
6.
	
Certain Prohibitions

	
6.1
	
Although Xenon Controls NaV1.6 IP (except as licensed to Genentech pursuant to Section 5.2 above), Xenon agrees that it shall, and shall cause its NaV1.6 Licensees to not, directly or indirectly, develop, seek approval for, market or promote:

	
 
	
(a)
	
NaV1.6 Compounds at or under the NaV1.7 Threshold for epilepsy;

	
 
	
(b)
	
NaV1.6 Compound(s) for the Pain Field; and

	
 
	
(c)
	
Excluded Collaboration Compounds in any field.

	
7.
	
OWNERSHIP OF INTELLECTUAL PROPERTY

All NaV1.6 IP is owned solely by Xenon. For the purposes of the Agreement, NaV1.6 IP is not Post-Research Term IP. Xenon owes no duty of confidence to Genentech respecting the NaV1.6 IP.

	
8.
	
GENERAL

	
8.1
	
As of the Amendment Date, except as set out above, Letter Amendment #6 is terminated and Xenon shall return all Collaboration Compounds in Xenon’s possession (if any) to Genentech within [†] ([†]) days.

	
8.2
	
In the event of a conflict between the terms of this Letter Amendment #7 and the terms of the Agreement, the terms of this Letter Amendment #7 shall prevail.

	
8.3
	
Except as specifically provided above in this Letter Amendment #7, the Agreement remains in full force and effect, unamended.

	
8.4
	
Any rights and obligations of the Parties set out in this Letter Amendment #7 which, from the context hereof, are intended to survive any termination or expiration of the Agreement, including those rights and obligations set out in Sections 4, 5, 7 and 8 above, shall survive any such termination or expiration. Sections 5.2(a) and 6 shall terminate on termination or expiry of the Agreement.

[signature page follows]

[†] DESIGNATES PORTIONS OF THIS DOCUMENT THAT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED SEPARATELY WITH THE COMMISSION

- 5 -

By the signatures below, the Parties have caused this Letter Amendment #7 to be executed by their respective duly authorized officers to be effective as of the Amendment Date.

Sincerely,

XENON PHARMACEUTICALS INC.

 

		
	
By:
	
/s/ Dr. Robin Sherrington

	
Name:
	
Robin Sherrington, PhD

	
Title:
	
EVP, Business & Corporate Development

 

		
	
By:
	
/s/ Ian Mortimer

	
Name:
	
Ian Mortimer

	
Title:
	
President & CFO

 

GENENTECH, INC.

 

		
	
By:
	
/s/ Patrick Bigot

	
Name:
	
Patrick Bigot

	
Title:
	
VP, Alliance Management

 

 

F. HOFFMANN-LA ROCHE LTD

 

		
	
By:
	
/s/ Barbara Schroeder

	
Name:
	
Barbara Schroeder

	
Title:
	
Authorized Signatory

 

 

		
	
By:
	
/s/ Dr. Melanie Wick

	
Name:
	
Dr. Melanie Wick

	
Title:
	
Authorized Signatory

 

[†] DESIGNATES PORTIONS OF THIS DOCUMENT THAT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED SEPARATELY WITH THE COMMISSION

- 6 -

Exhibit A
[†] Patent Applications

 

[†]

[†]

[†]

[†]

[†]

[†]

[†]

[†]

[†] DESIGNATES PORTIONS OF THIS DOCUMENT THAT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED SEPARATELY WITH THE COMMISSION

- 7 -

Exhibit B
Description of the [†] Assay

[†]

[†].

[†].

[†]. 

[†]

[†].

[†]

[†].

[†] DESIGNATES PORTIONS OF THIS DOCUMENT THAT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED SEPARATELY WITH THE COMMISSION

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