Document:

Non-Employee Directors' Equity Incentive Plan

 Exhibit 10.1 
 AMYLIN PHARMACEUTICALS, INC. 
 2003
NON-EMPLOYEE DIRECTORS’ EQUITY INCENTIVE PLAN 
 ADOPTED APRIL 2, 2003 

APPROVED BY STOCKHOLDERS MAY 14, 2003 

ORIGINAL EFFECTIVE DATE: APRIL 2, 2003 

AMENDED BY THE BOARD: MARCH 16, 2009 

LAST AMENDED BY THE BOARD: MARCH 1, 2011

 1. PURPOSES AND RELATIONSHIP WITH THE
COMPANY’S 2009 EQUITY INCENTIVE PLAN. 

(a) Eligible Award Recipients. The persons eligible for Initial Option Grants, Annual Option Grants and Annual RSU Grants
are the Non-Employee Directors of the Company. 
 (b) Available Awards. The purpose of the Plan is to provide a
means by which Non-Employee Directors may be given an opportunity to benefit from increases in the value of the Common Stock through the granting of Nonstatutory Stock Options and Restricted Stock Unit Awards. 

(c) General Purpose. The Company, by means of the Plan, seeks to retain the services of its Non-Employee Directors, to
secure and retain the services of new Non-Employee Directors and to provide incentives for such persons to exert maximum efforts for the success of the Company and its Affiliates. 

(d) Relationship with the Company’s 2009 Equity Incentive Plan. All Options and RSUs granted pursuant to the Plan shall be
deemed to have been issued under and pursuant to the terms of the Incentive Plan and subject to all the terms and conditions of the Incentive Plan except to the extent otherwise provided for in the Plan. In the event that any of the terms or
conditions of the Incentive Plan are inconsistent with or in conflict with any of the terms or conditions of the Plan, the Options or the RSUs, the terms and conditions of the Plan, the Options or the RSUs shall control. 

2. DEFINITIONS. 
 (a) “Affiliate” means any parent corporation or subsidiary corporation of the Company, whether now or hereafter existing, as those terms are defined in Sections 424(e) and
(f), respectively, of the Code. 
 (b) “Award” means an Option or RSU granted pursuant to the
Plan. 
 (c) “Awardholder” means a person to whom an Award is granted pursuant to the Plan or, if
applicable, such other person who holds an outstanding Award. 

 (d) “Anniversary Date” means with respect to each Award, the
date that is the first anniversary of the applicable date of grant of the Award. 
 (e) “Annual Option
Grant” means an Option granted annually to all Non-Employee Directors who meet the criteria specified in subsection 6(b) of the Plan. 
 (f) “Annual RSU Grant” means an RSU granted to all Non-Employee Directors who meet the criteria specified in subsection 6(c) of the Plan. 

(g) “Annual Meeting” means the annual meeting of the stockholders of the Company. 

(h) “Board” means the Board of Directors of the Company. 

(i) “Change in Control” means the occurrence of any of the following: (i) any “person,” as
such term is used in Sections 13(d) and 14(d) of the Exchange Act (other than the Company, a subsidiary, an affiliate, or a Company employee benefit plan, including any trustee of such plan acting as trustee) is or becomes the “beneficial
owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 50% or more of the combined voting power of the Company’s then outstanding securities other than by virtue of a
merger, consolidation or similar transaction; (ii) there is consummated a sale or other disposition of all or substantially all of the assets of the Company (other than a sale to an entity where at least 50% of the combined voting power of the
voting securities of such entity are owned by the stockholders of the Company in substantially the same proportions as their ownership of the Company immediately prior to such sale); (iii) there is consummated a merger, consolidation or similar
transaction involving (directly or indirectly) the Company and, immediately after the consummation of such transaction, the stockholders immediately prior to the consummation of such transaction do not own, directly or indirectly, outstanding voting
securities representing more than 50% of the combined outstanding voting power of the surviving entity in such transaction or more than 50% of the combined outstanding voting power of the parent of the surviving entity in such transaction.

 (j) “Code” means the Internal Revenue Code of 1986, as amended. 

(k) “Common Stock” means the common stock of the Company. 

(l) “Company” means Amylin Pharmaceuticals, Inc., a Delaware corporation. 

(m) “Consultant” means any person, including an advisor, whether an individual or an entity,
(i) engaged by the Company or an Affiliate to render consulting or advisory services and who is compensated for such services or (ii) who is a member of the Board of Directors of an Affiliate and who is compensated for such services.
However, the term “Consultant” shall not include Directors who are not compensated by the Company for their services as Directors, and the payment of a director’s fee by the Company for services as a Director shall not cause a
Director to be considered a “Consultant” for purposes of the Plan. 

  
 2. 

 (n) “Continuous Service” means that the Awardholder’s
service with the Company or an Affiliate, whether as an Employee, Director or Consultant, is not interrupted or terminated. An Awardholder’s Continuous Service shall not be deemed to have terminated by reason of a change in the capacity in
which such Awardholder renders service to the Company or an Affiliate as an Employee, Consultant or Director or a change in the entity for which such Awardholder renders such service, provided that there is otherwise no interruption or termination
of such Awardholder’s Continuous Service. For example, a change in status from a Non-Employee Director of the Company to a Consultant of an Affiliate or an Employee of the Company will not constitute an interruption of Continuous Service. To
the extent permitted by applicable laws, the Board or the chief executive officer of the Company, in that party’s sole discretion, may determine whether Continuous Service shall be considered interrupted in the case of any leave of absence
approved by that party, including sick leave, military leave or any other personal leave. 
 (o) “Deferred
Compensation Plan” means the Company’s 2001 Non-Qualified Deferred Compensation Plan, or any successor deferred compensation plan thereto. 
 (p) “Director” means a member of the Board of Directors of the Company. 
 (q) “Employee” means any person employed by the Company or an Affiliate. A person shall not be deemed an Employee by reason of such person’s service as a Director
and/or payments of director’s fees to such person. 
 (r) “Exchange Act” means the
Securities Exchange Act of 1934, as amended. 
 (s) “Fair Market Value” means, as of any date,
the value of the Common Stock determined as follows: 
 (i) If the Common Stock is listed on any established stock
exchange or traded on any established market, the Fair Market Value of a share of Common Stock shall be the closing sales price for such stock as quoted on such exchange or market (or the exchange or market with the greatest volume of trading in the
Common Stock) on the date of determination, as reported in a source the Board deems reliable. 
 (ii) Unless otherwise
provided by the Board, if there is no closing sales price for the Common Stock on the date of determination, then the Fair Market Value shall be the closing selling price on the last preceding date for which such quotation exists. 

(iii) In the absence of such markets for the Common Stock, the Fair Market Value shall be determined in good faith by the Board
and in a manner that complies with Section 409A and 422 of the Code. 
 (t) “Incentive Plan”
means the Company’s 2009 Equity Incentive Plan or any successor equity incentive plan thereto. 
 (u)
“Initial Option Grant” means an Option granted to a Non-Employee Director who meets the criteria specified in subsection 6(a) of the Plan. 

  
 3. 

 (v) “Non-Employee Director” means a Director who is not an
Employee. 
 (w) “Nonstatutory Stock Option” means an Option not intended to qualify as an
incentive stock option within the meaning of Section 422 of the Code and the regulations promulgated thereunder. 

(x) “Option” means a Nonstatutory Stock Option granted pursuant to the Plan. 

(y) “Option Agreement” means a written agreement between the Company and an Optionholder evidencing the
terms and conditions of an Option grant. Each Option Agreement shall be subject to the terms and conditions of the Plan. 

(z) “Optionholder” means a person to whom an Option is granted pursuant to the Plan or, if applicable,
such other person who holds an outstanding Option. 
 (aa) “Plan” means this Amylin
Pharmaceuticals, Inc. 2003 Non-Employee Directors’ Equity Incentive Plan. 
 (rr) “Restricted Stock Unit
Award” means a right to receive shares of Common Stock which is granted pursuant to the terms and conditions of Section 6(c) of the Plan. 
 (bb) “RSU” means a Restricted Stock Unit Award granted pursuant to the Plan. 
 (cc) “RSU Award Agreement” means a written agreement between the Company and a holder of a Restricted Stock Unit Award evidencing the terms and conditions of a Restricted
Stock Unit Award grant. Each Restricted Stock Unit Award Agreement shall be subject to the terms and conditions of the Plan. 

(dd) “Rule 16b-3” means Rule 16b-3 promulgated under the Exchange Act or any successor to Rule 16b-3, as
in effect from time to time. 
 3. ADMINISTRATION. 

(a) Administration by Board. The Board shall administer the Plan. 

(b) Powers of Board. The Board shall have the power, subject to, and within the limitations of, the express provisions of
the Plan: 
 (i) To determine the provisions of each Award to the extent permitted in the Plan. 

(ii) To construe and interpret the Plan and Award granted under it, and to establish, amend and revoke rules and regulations for
its administration. The Board, in the exercise of this power, may correct any defect, omission or inconsistency in the Plan, in a manner and to the extent it shall deem necessary or expedient to make the Plan fully effective. 

(iii) To amend the Plan as provided in Section 10. 

  
 4. 

 (iv) Generally, to exercise such powers and to perform such acts as the Board deems
necessary or expedient to promote the best interests of the Company which are not in conflict with the provisions of the Plan. 

(c) Effect of Board’s Decision. All determinations, interpretations and constructions made by the Board in good faith
shall not be subject to review by any person and shall be final, binding and conclusive on all persons. 
 4. AWARDS
ISSUED UNDER INCENTIVE PLAN. 
 All Awards granted pursuant to
the Plan shall be deemed to have been granted under the Incentive Plan, and the shares of Common Stock issuable upon exercise or settlement of such Awards shall be issuable out of the shares reserved for issuance under the Incentive Plan pursuant to
Section 4 of the Incentive Plan. 
 5. ELIGIBILITY. 

The Awards as set forth in Section 6 automatically shall be granted under the Plan to all Non-Employee Directors in accordance with
the provisions of Section 6. 
 6. NON-DISCRETIONARY GRANTS. 

(a) Initial Option Grants. Each person who is elected or appointed by the Board or stockholders of the Company for the first
time to be a Non-Employee Director subsequent to April 2, 2003 and who has not served as a Director at any time during the two-year period immediately preceding the date of such election or appointment, automatically shall, upon the date of his
or her initial election or appointment to be a Non-Employee Director, be granted an Initial Option Grant to purchase thirty thousand (30,000) shares of Common Stock on the terms and conditions set forth herein, which Initial Option Grant shall
be effective as of the date of such election or appointment. 
 (b) Annual Option Grants. Immediately following
each Annual Meeting held after April 2, 2003, each Non-Employee Director who (i) was serving as a Director immediately prior to the meeting and (ii) is re-elected to his or her Board position at such Annual Meeting, shall
automatically shall be granted, effective as of the date of such Annual Meeting (and in addition to any Annual RSU Grant granted pursuant to Section 6(c)) an Annual Option Grant to purchase twenty thousand (20,000) shares of Common Stock
on the terms and conditions set forth herein. 
 (c) Annual RSU Grants. Immediately following each Annual Meeting
held after March 1, 2011, each Non-Employee Director who (i) was serving as a Director immediately prior to the meeting and (ii) is re-elected to his or her Board position at such Annual Meeting, shall automatically shall be granted,
effective as of the date of such Annual Meeting (and in addition to any Annual Option Grant granted pursuant to Section 6(b)) an Annual RSU Grant in respect of three thousand (3,000) shares of Common Stock on the terms and conditions set
forth herein. 

  
 5. 

 7. OPTION PROVISIONS. 

Each Option granted shall include (through incorporation of provisions hereof by reference in the Option Agreement or otherwise) the
substance of each of the following provisions, and may include other provisions to the extent those provisions are permitted or required by the Incentive Plan and are not inconsistent with or in conflict with the terms and conditions of the Plan:

 (a) Term. No Option shall be exercisable after the expiration of seven (7) years from the date it was
granted. 
 (b) Exercise Price. The exercise price of each Option shall be one hundred percent (100%) of the
Fair Market Value of the Common Stock subject to the Option on the date the Option is granted. Notwithstanding the foregoing, an Option may be granted with an exercise price lower than that set forth in the preceding sentence if such Option is
granted pursuant to an assumption or substitution for another option in a manner satisfying the provisions of Section 424(a) of the Code. 
 (c) Vesting Schedule. The Option shall vest and become exercisable as follows: 
 (i) Initial Option Grants: (A) if the applicable Optionholder’s Continuous Service continues through the Anniversary Date, such Option shall become exercisable as of the Anniversary Date
with respect to one-fourth (1/4th) of the total number of shares of Common Stock subject to such Option; and (B) over the thirty-six month period following the Anniversary Date, for so long as the applicable Optionholder’s Continuous
Service continues, such Option shall become exercisable with respect to an additional one forty-eighth (1/48) of the total number of shares of Common Stock subject to such Option on each monthly anniversary of the Anniversary Date until such
Option has become fully exercisable. 
 (ii) Annual Option Grants: such Option shall become exercisable in twelve equal
monthly increments over a period of one (1) year following the date of grant of such Option for so long as the applicable Optionholder’s Continuous Service continues. 
 8. RSU PROVISIONS. 
 Each RSU granted shall include (through
incorporation of provisions hereof by reference in the RSU Award Agreement or otherwise) the substance of each of the following provisions, and may include other provisions to the extent those provisions are permitted or required by the Incentive
Plan and are not inconsistent with or in conflict with the terms and conditions of the Plan: 
 (a) Vesting
Schedule. If the applicable Awardholder’s Continuous Service continues through the Anniversary Date, such RSU shall fully vest as of the Anniversary Date. 
 (b) Issuance Schedule. The Common Stock to be issued in respect of an RSU shall be issued in accordance with the terms of the RSU Award Agreement. 

  
 6. 

 (c) Deferral Election Permitted. Each RSU is eligible to be deferred under and
in accordance with the terms of the Deferred Compensation Plan and the form of RSU Award Agreement. 
 9. MISCELLANEOUS.

 The Board shall have the power to accelerate the time at which an Option may first be exercised or the time during which
an Option or RSU or any part thereof will vest in accordance with the Plan, notwithstanding the provisions in the Award stating the time at which it may first be exercised or the time during which it will vest. 

10. ADJUSTMENTS UPON CHANGES IN STOCK. 

(a) Capitalization Adjustments. If any change is made in the Common Stock subject to the Incentive Plan, or subject to any
Award, without the receipt of consideration by the Company (through merger, consolidation, reorganization, recapitalization, reincorporation, stock dividend, dividend in property other than cash, stock split, liquidating dividend, combination of
shares, exchange of shares, change in corporate structure or other transaction not involving the receipt of consideration by the Company), the Plan will be appropriately adjusted in the class(es) of securities subject to Awards granted under the
Plan and the number of securities to be issued upon the exercise of Options or in respect of RSUs granted under the Plan, and the outstanding Awards will be appropriately adjusted in the class(es) and number of securities and price per share of
Common Stock subject to such outstanding Awards. The Board shall make such adjustments, and its determination shall be final, binding and conclusive. (The conversion of any convertible securities of the Company shall not be treated as a transaction
“without receipt of consideration” by the Company.) 
 (b) Dissolution or Liquidation. In the event of a
dissolution or liquidation of the Company, then all outstanding Awards shall terminate immediately prior to such event. 

(c) Asset Sale, Merger, Consolidation or Reverse Merger. In the event of (i) a sale, lease or other disposition of all
or substantially all of the assets of the Company, (ii) a merger or consolidation in which the Company is not the surviving corporation or (iii) a reverse merger in which the Company is the surviving corporation but the shares of Common
Stock outstanding immediately preceding the merger are converted by virtue of the merger into other property, whether in the form of securities, cash or otherwise (individually, a “Corporate Transaction”), then any surviving corporation or
acquiring corporation shall assume any Awards outstanding under the Plan or shall substitute similar awards (including awards to acquire the same consideration paid to the stockholders in the Corporate Transaction for those outstanding under the
Plan). In the event any surviving corporation or acquiring corporation refuses to assume such Awards or to substitute similar awards for those outstanding under the Plan, then with respect to Awards held by Awardholders whose Continuous Service has
not terminated, the vesting of such Awards (and, if applicable, the time during which such Awards may be exercised or the shares in respect of such awards shall be issued) shall be accelerated in full, and the Awards shall terminate if not exercised
(if applicable) at or prior to the Corporate 

  
 7. 

 
Transaction. With respect to any other Awards outstanding under the Plan, such Awards shall terminate if not exercised (if applicable) prior to the Corporate Transaction. 

(d) Change in Control. Notwithstanding any other provisions of the Plan to the contrary, if a Change in Control occurs and
the Awardholder’s Continuous Service has not terminated prior to the effective date of such Change in Control, then the vesting of such Awards (and, if applicable, the time during which such Awards may be exercised or the shares in respect of
such awards shall be issued) shall be accelerated in full as of the effective date of the Change in Control. Following such Change in Control (other than a Change in Control resulting from a plan of complete dissolution or liquidation of the
Company) and notwithstanding any other provision of the Plan to the contrary and provided that the Awardholder’s Continuous Service has not terminated prior to the effective date of the Change in Control, then the Awardholder’s Options
shall expire on the earliest of (i) 12 months following the effective date of such Change in Control or (ii) the expiration of the term of the Option. 
 (e) Impact of Corporate Transaction or Change in Control on RSU Awards that are Deferred Compensation. Notwithstanding any other provisions of the Plan or the Incentive Plan to the contrary,
with respect to any RSU Awards that are “deferred compensation” for purposes of Section 409A of the Code (“Deferred Compensation RSUs”), regardless of whether the vesting of any Deferred Compensation RSUs
accelerates, the applicable scheduled issuance date of any shares of Common Stock in respect of the Deferred Compensation RSUs shall not be accelerated in connection with any Corporate Transaction or Change in Control, and the surviving or acquiring
corporation (or its parent company) (the “Acquiring Entity”) must either assume, continue or substitute the Deferred Compensation RSUs, and shares subject to the Deferred Compensation RSUs that vest, if any, shall be issued by the
Acquiring Entity in accordance with the terms of the RSU Award Agreement and the applicable deferral election in effect under the Company’s Deferred Compensation Plan. However, nothing in this provision is intended to prohibit the
Company’s exercise of its discretion to terminate the Deferred Compensation Plan and outstanding deferrals pursuant to Article 10 thereof, and thereby accelerate an issuance of shares in respect of Deferred Compensation RSUs in connection with
a 409A Change of Control. For such purposes, a “409A Change in Control” is a change in the ownership or effective control of the Company, or in the ownership of a substantial portion of the Company’s assets, as provided in Code
Section 409A(a)(2)(A)(v) and applicable guidance thereunder. 
 (f) Parachute Payments. If any payment or
benefit the Awardholder would receive pursuant to a Change in Control from the Company or otherwise would (i) constitute a “parachute payment” within the meaning of Section 280G of the Code, or any comparable successor
provisions, and (ii) but for this subsection, be subject to the excise tax imposed by Section 4999 of the Code, or any comparable successor provisions (the “Excise Tax”), then such payment or benefit shall be either
(x) provided to the Awardholder in full or (y) provided to the Awardholder as to such lesser extent which would result in no portion of the payment or benefit being subject to the Excise Tax, whichever of the foregoing amounts, when taking
into account applicable federal, state, local and foreign income and employment taxes, the Excise Tax, and any other applicable taxes (all computed at the highest applicable marginal rate), 

  
 8. 

 
results in the receipt by the Awardholder, on an after-tax basis, of the greatest amount of payment or benefits, notwithstanding that all or some portion of such payment or benefits may be
taxable under the Excise Tax. Unless the Company and the Awardholder otherwise agree in writing, any determination required under this subsection shall be made in writing in good faith by the accounting firm engaged by the Company for general audit
purposes as of the day prior to the effective date of the Change in Control. If the accounting firm so engaged by the Company is serving as accountant or auditor for the individual, entity or group effecting the Change in Control, the Company shall
appoint a different nationally recognized accounting firm to make the determinations required hereunder (the accounting firm so engaged pursuant to the two immediately preceding sentences, the “Accountants”). If a reduction
in payments or benefits constituting “parachute payments” is necessary so that the payments or benefits equal the amount determined pursuant to clauses (x) and (y) above, reduction shall occur in the following order: reduction of
cash payments; cancellation of accelerated vesting of Awards; reduction of employee benefits. In the event that acceleration of vesting of Awards is to be reduced, such acceleration of vesting shall be cancelled in the reverse order of the date of
grant of the Awardholder’s Awards. For purposes of making the calculations required by this subsection, the Accountants may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith
interpretations concerning the application of the Code, and other applicable legal authority. The Company and the Awardholder shall furnish to the Accountants such information and documents as the Accountants may reasonably request in order to make
a determination under this subsection. The Company shall bear all costs the Accountants may reasonably incur in connection with any calculations contemplated by this subsection. 

If, notwithstanding any reduction described in this subsection, the Internal Revenue Service (the “IRS”)
determines that the Awardholder is liable for the Excise Tax as a result of the receipt of a payment or benefits as described above, then the Awardholder shall be obligated to pay back to the Company, within thirty (30) days after a final IRS
determination or in the event that the Awardholder challenges the final IRS determination, a final judicial determination, a portion of the payment or benefits equal to the “Repayment Amount.” The Repayment Amount with
respect to the payment or benefits shall be the smallest such amount, if any, as shall be required to be paid to the Company so that the Awardholder’s net after-tax proceeds with respect to any payment or benefits (after taking into account the
payment of the Excise Tax and all other applicable taxes imposed on such payment or benefits) shall be maximized. The Repayment Amount with respect to the payment or benefits shall be zero if a Repayment Amount of more than zero would not result in
the Awardholder’s net after-tax proceeds with respect to the payment or benefits being maximized. If the Excise Tax is not eliminated pursuant to this paragraph, the Awardholder shall pay the Excise Tax. 

Notwithstanding any other provision of this subsection, if (i) there is a reduction in a payment or benefits as described in this
subsection, (ii) the IRS later determines that the Awardholder is liable for the Excise Tax, the payment of which would result in the maximization of the Awardholder’s net after-tax proceeds (calculated as if the Awardholder’s payment
or benefits had not previously been reduced), and (iii) the Awardholder pays the Excise Tax, then the Company shall pay to the Awardholder those benefits which were reduced pursuant to this subsection contemporaneously or as soon as
administratively possible after the Awardholder 

  
 9. 

 
pays the Excise Tax so that the Awardholder’s net after-tax proceeds with respect to the payment or benefits is maximized. 

If the Awardholder either (i) brings any action to enforce rights pursuant to this subsection, or (ii) defends any legal
challenge to its rights hereunder, the Awardholder shall be entitled to recover attorneys’ fees and costs incurred in connection with such action, regardless of the outcome of such action; provided, however, that, in the event such action is
commenced by the Awardholder, the court finds the claim was brought in good faith. 
 11. AMENDMENT OF
THE PLAN AND AWARDS. 
 (a) Amendment of Plan. The
Board at any time, and from time to time, may amend the Plan. However, except as provided in Section 9 relating to adjustments upon changes in Common Stock, no amendment shall be effective unless approved by the stockholders of the Company to
the extent stockholder approval is necessary to satisfy the requirements of Rule 16b-3 or any Nasdaq or securities exchange listing requirements. 
 (b) Stockholder Approval. The Board may, in its sole discretion, submit any other amendment to the Plan for stockholder approval. 

(c) No Impairment of Rights. Rights under any Award granted before amendment of the Plan shall not be impaired by any
amendment of the Plan unless (i) the Company requests the consent of the Awardholder and (ii) the Awardholder consents in writing. 
 (d) Amendment of Awards. The Board at any time, and from time to time, may amend the terms of any one or more Awards; provided, however, that the rights under any Award shall not be impaired
by any such amendment unless (i) the Company requests the consent of the Awardholder and (ii) the Awardholder consents in writing. 

12. TERMINATION OR SUSPENSION OF THE PLAN. 

(a) Plan Term. The Board may suspend or terminate the Plan at any time. Unless sooner terminated, the Plan shall terminate
on the day before the tenth (10th) anniversary of the date the Plan is adopted by the Board or approved by the stockholders of the Company, whichever is earlier. No Awards may be granted under the Plan while the Plan is suspended or after it is
terminated. 
 (b) No Impairment of Rights. Suspension or termination of the Plan shall not impair rights and
obligations under any Award granted while the Plan is in effect except with the written consent of the Awardholder. 
 13.
EFFECTIVE DATE OF PLAN. 
 The Plan shall become effective as
determined by the Board, but no Option shall be exercised unless and until the Plan has been approved by the stockholders of the Company, which approval shall be within twelve (12) months before or after the date the Plan is adopted by the
Board. 

  
 10.

 14. CHOICE OF LAW. 

The law of the State of California shall govern all questions concerning the construction, validity and interpretation of this Plan
without regard to such state’s conflict of laws rules. 

  
 11.Form of Non-Employee Directors' Equity Incentive Plan

 Exhibit 10.2 
 AMYLIN PHARMACEUTICALS, INC. 

2003 NON-EMPLOYEE DIRECTORS’ EQUITY INCENTIVE
PLAN 
 RESTRICTED STOCK UNIT AWARD
AGREEMENT 
 Pursuant to the Restricted Stock Unit Award Grant Notice (the “Grant
Notice”) and this Restricted Stock Unit Award Agreement (the “Agreement”) (collectively, the “Award”) and in consideration of your services rendered or to be rendered, as applicable,
Amylin Pharmaceuticals, Inc. (the “Company”) has granted you a Restricted Stock Unit Award under its 2003 Non-Employee Directors’ Equity Incentive Plan (the “Plan”). The Award is also granted
under the terms of the Company’s 2009 Equity Incentive Plan or any successor equity incentive plan thereto (the “Incentive Plan”), and any shares of the Company’s Common Stock issued in respect of the Award will be issued out of
shares reserved for issuance under the Incentive Plan. Capitalized terms not explicitly defined in this Agreement but defined in the Incentive Plan shall have the same definitions as in the Incentive Plan except to the extent otherwise defined in
the Plan or the Grant Notice. 
 The details of your Award, in addition to those set forth in the Grant Notice, the Plan, and
the Incentive Plan, are as follows: 
 1. GRANT OF THE
AWARD. This Award represents the right to be issued on a future date the number of shares of the Company’s Common Stock as indicated in the Grant Notice. As of the Date of Grant, the Company will credit to a bookkeeping
account maintained by the Company for your benefit (the “Account”) the number of shares of Common Stock subject to the Award. This Award was granted in consideration of your services to the Company. Except as otherwise
provided herein, you will not be required to make any payment to the Company (other than past and future services to the Company) with respect to your receipt of the Award, the vesting of the shares or the delivery of the underlying Common Stock.

 2. VESTING. Subject to the limitations contained herein, your Award will vest, if
at all, in accordance with the vesting criteria provided in the Grant Notice, provided that no shares will vest following a termination of your Continuous Service. Upon such termination of your Continuous Service, the Award shall terminate and the
shares credited to the Account that were not vested on the date of such termination will be forfeited at no cost to the Company and you will have no further right, title or interest in or to such underlying shares of Common Stock or the Award.

 3. NUMBER OF SHARES. 

(a) The number of shares of Common Stock subject to your Award as referenced in your Grant Notice may be adjusted from time to time
for capitalization adjustments, as set forth in Section 11 of the Plan. 
 (b) Any shares, cash or other property
that becomes subject to the Award pursuant to this Section 3, if any, shall be subject, in a manner determined by the Board, to the same forfeiture restrictions, restrictions on transferability, and time and manner of delivery as applicable to
the other shares covered by your Award. 

 (c) Notwithstanding the provisions of this Section 3, no fractional shares or
rights for fractional shares of Common Stock shall be created pursuant to this Section 3. The Board shall, in its discretion, determine an equivalent benefit for any fractional shares or fractional shares that might be created by the
adjustments referred to in this Section 3. 
 4. SECURITIES LAW
COMPLIANCE. Notwithstanding anything to the contrary contained herein, you may not be issued any shares of Common Stock under your Award unless the shares of Common Stock are either then registered under the
Securities Act or, if such shares of Common Stock are not then so registered, the Company has determined that such issuance would be exempt from the registration requirements of the Securities Act. Your Award must also comply with other applicable
laws and regulations governing the Award, and you will not receive such shares if the Company determines that such receipt would not be in material compliance with such laws and regulations. 

5. LIMITATIONS ON TRANSFER. Your Award is not transferable, except by will or
by the laws of descent and distribution. In addition to any other limitation on transfer created by applicable securities laws, you agree not to assign, hypothecate, donate, encumber or otherwise dispose of any interest in any of the shares of
Common Stock subject to the Award until the shares are issued to you in accordance with Section 6 of this Agreement. After the shares have been issued to you, you are free to assign, hypothecate, donate, encumber or otherwise dispose of any
interest in such shares provided that any such actions are in compliance with the provisions herein and applicable securities laws. Notwithstanding the foregoing, by delivering written notice to the Company, in a form satisfactory to the Company,
you may designate a third party who, in the event of your death, shall thereafter be entitled to receive any distribution of Common Stock to which you were entitled at the time of your death pursuant to this Agreement. 

6. DATE OF ISSUANCE.  

(a) The Company will deliver to you a number of shares of the Company’s Common Stock equal to the number of vested shares
subject to your Award, including any additional shares received pursuant to Section 3 above that relate to those vested shares, but less any number of shares withheld or sold to satisfy tax withholding obligations pursuant to Section 12,
on the applicable vesting date(s), subject to any delay in issuance as necessary to satisfy the tax withholding obligations as further provided in Section 12(c). However, if a scheduled delivery date falls on a date that is not a business day,
such delivery date shall instead fall on the next following business day. 
 (b) Notwithstanding the foregoing, the
following provisions shall apply if the Grant Notice provides that you are permitted under the terms of the Grant Notice to elect to defer delivery of the shares to be issued in respect of your Award beyond the vesting date in accordance with this
Section 6(b): 
 (i) If you elect to defer delivery of such shares of Common Stock to be issued in respect of your
Award beyond the vesting date under the Company’s 2001 Non-Qualified Deferred Compensation Plan (the “Deferred Compensation Plan”), then the Company will not deliver such shares on the vesting date or dates provided in
your Grant Notice and subject to the foregoing provisions, but will instead deliver such shares to you on the date or dates that you so elect, subject to the terms and conditions of the Deferred Compensation Plan

  
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(the “Settlement Date”). If you elect to defer delivery of the shares subject to your Award under the Deferred Compensation Plan, the shares subject to your Award are
subject to all the applicable terms and conditions of the Deferred Compensation Plan, which shall control in the event of any discrepancy between the terms of the Deferred Compensation Plan and the Grant Notice, this Agreement or the Plan.

 (ii) Notwithstanding anything to the contrary set forth in the Plan, in the event of a corporate transaction
described in Section 11(c) of the Plan, then subject to the Company’s discretion related to termination of the Deferred Compensation Plan and outstanding deferrals pursuant to Article 10 thereof in connection with a 409A Change in Control,
the surviving or acquiring corporation (or its parent company) (the “Acquiring Entity”) must either assume, continue or substitute your Award, and shares subject to your Award that vest, if any, shall be issued to you by the Acquiring
Entity in accordance with the terms of this Agreement and your deferral election. For such purposes, a “409A Change in Control” is a change in the ownership or effective control of the Company, or in the ownership of a substantial portion
of the Company’s assets, as provided in Code Section 409A(a)(2)(A)(v) and applicable guidance thereunder. 

(iii) In the event that you have a Separation From Service that is not a termination of your Continuous Service, then any
unvested shares subject to your Award that vest following your Separation From Service will be issued to you in accordance with the provisions of Section 6(a) and 6(b). “Separation From Service” has the meaning set forth in
Section 409A(a)(2)(A)(i) of the Code and applicable guidance thereunder. 
 7. EXECUTION
OF DOCUMENTS. You hereby acknowledge and agree that the manner selected by the Company by which you indicate your consent to your Grant Notice is also deemed to be your execution of your Grant Notice and of this
Agreement. You further agree that such manner of indicating consent may be relied upon as your signature for establishing your execution of any documents to be executed in the future in connection with your Award. 

8. IRREVOCABLE POWER OF ATTORNEY. You constitute and appoint
the Secretary of the Company as attorney-in-fact and agent to transfer said Common Stock on the books of the Company with full power of substitution in the premises, and to execute with respect to such securities and other property all documents of
assignment and/or transfer and all stock certificates necessary or appropriate to make all securities negotiable and complete any transaction herein contemplated. This is a special power of attorney coupled with an interest (specifically, the
Company’s underlying security interest in retaining the shares of Common Stock in the event you do not perform the associated services for the Company), and is irrevocable and shall survive your death or legal incapacity. This power of attorney
is limited to the matters specified in this Agreement. 
 9. DIVIDENDS. You shall receive no
benefit or adjustment to your Award with respect to any cash dividend, stock dividend or other distribution that does not result from a capitalization adjustment as provided in the Plan; provided, however, that this sentence shall not apply with
respect to any shares of Common Stock that are delivered to you in connection with your Award after such shares have been delivered to you. 

  
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 10. RESTRICTIVE LEGENDS. The certificates
representing the Common Stock shall have endorsed thereon appropriate legends as determined by the Company. 
 11.
AWARD NOT A SERVICE CONTRACT. Your Award is not an employment or service contract, and nothing in your Award shall be deemed to create in any way
whatsoever any obligation on your part to continue in the employ of the Company or an Affiliate, or of the Company or an Affiliate to continue your employment. In addition, nothing in your Award shall obligate the Company or an Affiliate, their
respective stockholders, Boards of Directors, Officers or Employees to continue any relationship that you might have as a Director or Consultant for the Company or an Affiliate. 

12. WITHHOLDING OBLIGATIONS. 

(a) On or before the time the shares subject to your Award vest and/or you receive a distribution of shares pursuant to your Award,
or at any time thereafter as requested by the Company, you may satisfy any federal, state, local or foreign tax withholding obligation relating to your Award, if applicable, by any of the following means by making an appropriate election via your
E*Trade account: (i) tendering a cash payment that covers your tax withholding obligation by depositing such cash payment into your E*Trade account on or before the date your Award vests; or (ii) pursuant to a “same-day sale”
procedure under a Regulation T Program conducted with the assistance of a brokerage firm, whereby you may elect to either: (A) sell all the shares subject to your Award, or (B) sell only a number of shares subject to the Award as is
necessary to satisfy the tax withholding obligation. 
 (b) If you do not make an election via your E*Trade account on or
prior to the date your Award vests regarding the method of satisfaction of your tax withholding obligation, then your tax withholding obligation will be automatically satisfied pursuant to a “same-day sale” procedure under a Regulation T
Program conducted with the assistance of a brokerage firm whereby a number of shares as necessary to satisfy the tax withholding obligation will be sold, and the remaining shares subject to your Award will be deposited into your E*Trade account.

 (c) If you timely elect to satisfy your tax withholding obligation via tendering a cash payment as
provided above, but as of the date your Award vests there are insufficient funds in your E*Trade account to cover the tax withholding obligation, you will have an additional limited grace period within which you may deposit funds as necessary to
cover your tax withholding obligation which will expire upon the earlier of: (A) five business days following the vesting date of the Award, or (B) December 19th of the calendar year in which your Award vests (the “Grace Period Expiration Date”). On the first business
day following the Grace Period Expiration Date, to the extent that there are still insufficient funds in your E*Trade account to cover the tax withholding obligation, then such tax withholding obligation will be automatically satisfied pursuant to a
“same-day sale” procedure under a Regulation T Program conducted with the assistance of a brokerage firm whereby a number of shares as necessary to satisfy the tax withholding obligation will be sold, and the remaining shares subject to
your Award will be deposited into your E*Trade account. 
 (d) Notwithstanding anything to the contrary set forth herein,
in the event that (i) you are subject to the Company’s policy permitting officers and directors to sell shares only during certain “window” periods, in effect from time to time or you are otherwise prohibited

  
 4 

 
from selling shares of the Company’s Common Stock in the public market and any shares covered by your Award are scheduled to be delivered on a day that does not occur during an open
“window period” applicable to you, as determined by the Company in accordance with such policy, or does not occur on a date when you are otherwise permitted to sell shares of the Company’s common stock on the open market, and
(ii) you have not tendered a cash payment in satisfaction of the tax withholding obligation, then in lieu of satisfying your tax withholding obligation via a “same-day sale” procedure under a Regulation T Program, the Company will
satisfy such tax withholding obligation by withholding from the shares otherwise issuable to you in connection with your Award, and will issue you the remaining shares in settlement of your Award on such date. 

(e) Unless the tax withholding obligations of the Company or any Affiliate are timely satisfied as reasonably determined by the
Company, the Company shall have no obligation to issue a certificate for such shares and any such shares shall be automatically reacquired by the Company for no consideration. 
 13. UNSECURED OBLIGATION. Your Award is unfunded, and as a holder of a vested Award, you shall be considered an unsecured creditor of the Company with respect
to the Company’s obligation, if any, to issue shares pursuant to this Agreement. You shall not have voting or any other rights as a stockholder of the Company with respect to the shares to be issued pursuant to this Agreement until such shares
are issued to you pursuant to Section 6 of this Agreement. Upon such issuance, you will obtain full voting and other rights as a stockholder of the Company. Nothing contained in this Agreement, and no action taken pursuant to its provisions,
shall create or be construed to create a trust of any kind or a fiduciary relationship between you and the Company or any other person. 
 14. TAX CONSEQUENCES. You have reviewed with your own tax advisors the federal, state, local and foreign tax consequences of this investment and the
transactions contemplated by this Agreement. You are relying solely on such advisors and not on any statements or representations of the Company or any of its agents. You understand that you (and not the Company) shall be responsible for your own
tax liability that may arise as a result of this investment or the transactions contemplated by this Agreement. 
 15.
OTHER DOCUMENTS. You hereby acknowledge receipt or the right to receive a document providing the information required by Rule 428(b)(1) promulgated under the Securities Act, which includes the Plan prospectus. In
addition, you acknowledge receipt of the Company’s policy permitting officers and directors to sell shares only during certain “window” periods and the Company’s insider trading policy, in effect from time to time. 

16. NOTICES. Any notice or request required or permitted hereunder shall be given in writing
to each of the other parties hereto and shall be deemed effectively given on the earlier of (a) the date of personal delivery, including delivery by express courier, or (b) the date that is five days after deposit in the United States Post
Office (whether or not actually received by the addressee), by registered or certified mail with postage and fees prepaid, addressed at the following addresses, or at such other address(es) as a party may designate by ten days’ advance written
notice to each of the other parties hereto: 

  
 5 

			
	COMPANY:	 	Amylin Pharmaceuticals, Inc.
		 	9360 Towne Centre Drive
		 	San Diego, CA 92121
		 	Attn: Secretary of the Company
		
	YOU:	 	Your address as on file with the Company’s
		 	Human Resources Department at the time notice is given

 17. MISCELLANEOUS. 
 (a) The rights and obligations of
the Company under your Award shall be transferable to any one or more persons or entities, and all covenants and agreements hereunder shall inure to the benefit of, and be enforceable by, the Company’s successors and assigns. Your rights and
obligations under your Award may only be assigned with the prior written consent of the Company. 
 (b) You agree upon
request to execute any further documents or instruments necessary or desirable in the sole determination of the Company to carry out the purposes or intent of your Award. 
 (c) You acknowledge and agree that you have reviewed your Award in its entirety, have had an opportunity to obtain the advice of counsel prior to executing and accepting your Award and fully
understand all provisions of your Award. 
 (d) This Agreement shall be subject to all applicable laws, rules, and
regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required. 

(e) All obligations of the Company under the Plan and this Agreement shall be binding on any successor to the Company, whether the
existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business and/or assets of the Company. 

18. GOVERNING PLAN DOCUMENT. Your Award is subject to all the
provisions of the Incentive Plan except to the extent otherwise provided for in the Plan, the Grant Notice, of this Agreement, the respective provisions of which are hereby made a part of your Award, and is further subject to all interpretations,
amendments, rules and regulations which may from time to time be promulgated and adopted pursuant to the Incentive Plan except to the extent otherwise provided for in the Plan or any amendments, rules and regulations which may from time to time be
promulgated and adopted pursuant to the Plan. Except as otherwise explicitly provided herein, in the event of any conflict between the provisions of your Award and those of the Incentive Plan or the Plan, as applicable, the provisions of the
Incentive Plan or the Plan shall control, as the case may be. 
 19. SEVERABILITY. If all or any
part of this Agreement or the Plan is declared by any court or governmental authority to be unlawful or invalid, such unlawfulness or invalidity shall 

  
 6 

 
not invalidate any portion of this Agreement or the Plan not declared to be unlawful or invalid. Any Section of this Agreement (or part of such a Section) so declared to be unlawful or invalid
shall, if possible, be construed in a manner which will give effect to the terms of such Section or part of a Section to the fullest extent possible while remaining lawful and valid. 

20. EFFECT ON OTHER EMPLOYEE BENEFIT
PLANS. The value of the Award subject to this Agreement shall not be included as compensation, earnings, salaries, or other similar terms used when calculating the Employee’s benefits under any employee benefit plan sponsored
by the Company or any Affiliate, except as such plan otherwise expressly provides. The Company expressly reserves its rights to amend, modify, or terminate any of the Company’s or any Affiliate’s employee benefit plans. 

21. CHOICE OF LAW. The interpretation, performance and enforcement of this
Agreement will be governed by the law of the state of California without regard to such state’s conflicts of laws rules. 

22. AMENDMENT. This Agreement may not be modified, amended or terminated except by an instrument in writing,
signed by you and by a duly authorized representative of the Company. Notwithstanding the foregoing, this Agreement may be amended solely by the Board by a writing which specifically states that it is amending this Agreement, so long as a copy of
such amendment is delivered to you, and provided that no such amendment adversely affecting your rights hereunder may be made without your written consent. Without limiting the foregoing, the Board reserves the right to change, by written notice to
you, the provisions of this Agreement in any way it may deem necessary or advisable to carry out the purpose of the grant as a result of any change in applicable laws or regulations or any future law, regulation, ruling, or judicial decision,
provided that any such change shall be applicable only to rights relating to that portion of the Award which is then subject to restrictions as provided herein. 
 * * * * * 
 This Restricted Stock Unit Award Agreement shall be deemed to be
signed by the Company and the Participant upon the signing by the Participant of the Restricted Stock Unit Award Grant Notice to which it is attached. 

  
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