Document:

QuickLinks
 -- Click here to rapidly navigate through this document

EXHIBIT 10.46  

 
 

INTERMUNE, INC.
  
    2000 NON-EMPLOYEE DIRECTORS' STOCK OPTION PLAN    
  

ADOPTED FEBRUARY 8, 2000

APPROVED BY STOCKHOLDERS MARCH 20, 2000

AMENDED ON JUNE 19, 2002  

1.    Purposes.  

        (a)  Eligible Option Recipients. The persons eligible to receive Options are the Non-Employee Directors of the
Company. 

        (b)  Available Options. 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 value of the Common Stock through the granting of Nonstatutory Stock Options. 

        (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. 

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)  "Annual Grant" means an Option granted annually to all Non-Employee Directors who meet the criteria specified
in subsection 6(b) of the Plan. 

        (c)  "Board" means the Board of Directors of the Company. 

        (d)  "Code" means the Internal Revenue Code of 1986, as amended. 

        (e)  "Common Stock" means the common stock of the Company. 

        (f)    "Company" means InterMune, Inc. 

        (g)  "Consultant" means any person, including an advisor, (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. However, the term "Consultant" shall not include
either Directors of the Company who are not compensated by the Company for their services as Directors or Directors of the Company who are merely paid a director's fee by the Company for their
services as Directors. 

        (h)  "Continuous Service" means that the Optionholder's service with the Company or an Affiliate, whether as an Employee,
Director or Consultant, is not interrupted or terminated. The Optionholder's Continuous Service shall not be deemed to have terminated merely because of a change in the capacity in which the
Optionholder renders service to the Company or an Affiliate as an Employee, Consultant or Director or a change in the entity for which the Optionholder renders such service, provided that there is no
interruption or termination of the Optionholder's service. For example, a change in status without interruption 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. 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. 

        (i)    "Director" means a member of the Board of Directors of the Company. 

        (j)    "Disability" means the permanent and total disability of a person within the meaning of Section 22(e)(3) of the
Code. 

        (k)  "Employee" means any person employed by the Company or an Affiliate. Mere service as a Director or payment of a
director's fee by the Company or an Affiliate shall not be sufficient to constitute "employment" by the Company or an Affiliate. 

        (l)    "Exchange Act" means the Securities Exchange Act of 1934, as amended. 

        (m)  "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 the Nasdaq National Market or the Nasdaq SmallCap Market, the Fair Market Value of a share
of Common Stock shall be the closing sales price for such stock (or the closing bid, if no sales were reported) as quoted on such exchange or market (or the exchange or market with the greatest volume
of trading in the Common Stock) on the last market trading day prior to the day of determination, as reported in The Wall Street Journal or such other source as the Board deems reliable. 

        (ii)  In
the absence of such markets for the Common Stock, the Fair Market Value shall be determined in good faith by the Board. 

        (n)  "Initial Grant" means an Option granted to a Non-Employee Director who meets the criteria specified in
subsection 6(a) of the Plan. 

        (o)  "IPO Date" means the effective date of the initial public offering of the Common Stock. 

        (p)  "Non-Employee Director" means a Director who is not an Employee. 

        (q)  "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. 

        (r)  "Officer" means a person who is an officer of the Company within the meaning of Section 16 of the Exchange Act and
the rules and regulations promulgated thereunder. 

        (s)  "Option" means a Nonstatutory Stock Option granted pursuant to the Plan. 

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

        (u)  "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. 

        (v)  "Plan" means this InterMune, Inc. 2000 Non-Employee Directors' Stock Option Plan. 

        (w)  "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. 

        (x)  "Securities Act" means the Securities Act of 1933, as amended. 

3.    Administration.  

        (a)  Administration By Board. The Board shall administer the Plan. The Board may not delegate administration of the Plan to a
committee. 

        (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 Option to the extent not specified in the Plan. 

        (ii)  To
construe and interpret the Plan and Options 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 or in any Option Agreement, in a manner and to the extent it shall deem necessary or expedient to make the Plan
fully effective. 

        (iii)  To
amend the Plan or an Option as provided in Section 

        (iv)  To
terminate or suspend the Plan as provided in Section 

        (v)  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 that 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.    Shares Subject to the Plan.  

        (a)  Share Reserve. Subject to the provisions of Section 11 relating to adjustments upon changes in the Common Stock,
the Common Stock that may be issued pursuant to Options shall not exceed in the aggregate one hundred eighty thousand (180,000) shares of Common Stock plus an annual increase to be added each
January 1, commencing with January 1, 2001, equal to one hundred eighty thousand (180,000) shares of Common Stock. Notwithstanding the foregoing, the Board may designate a smaller number
of shares of Common Stock to be added to the share reserve as of a particular January 1. 

        (b)  Reversion Of Shares To The Share Reserve. If any Option shall for any reason expire or otherwise terminate, in whole or
in part, without having been exercised in full, the shares of Common Stock not acquired under such Option shall revert to and again become available for issuance under the Plan. 

        (c)  Source Of Shares. The shares of Common Stock subject to the Plan may be unissued shares or reacquired shares, bought on
the market or otherwise. 

5.    Eligibility.  

        The Options as set forth in section 6 automatically shall be granted under the Plan to all Non-Employee Directors. 

6.    Non-Discretionary Grants.  

        (a)  Initial Grants. Without any further action of the Board, each person who is a Non-Employee Director on the
IPO Date, or is elected or appointed for the first time to be a Non-Employee Director after the IPO Date, and who has not already been granted a stock option by the Company, automatically
shall, upon the later of the IPO Date or the date of such person's initial election or appointment to be a Non-Employee Director by the Board or the Company's stockholders, be granted a
grant to purchase thirty thousand (30,000) shares of Common Stock (an "Initial Grant") and a grant to purchase ten thousand (10,000) shares of Common Stock (an "Annual Grant") on the terms and
conditions set forth herein. The term "Annual Grant" shall also include any 10,000 or 15,000 share option grants that a Non-Employee director receives, independent of an Initial Grant,
pursuant to Section 6(b) below. 

        (b)  Annual Grants. Without any further action of the Board, a Non-Employee Director who continues to serve the
Company as a Non-Employee Director on the date his or her Annual Grant fully vests shall automatically be granted another Annual Grant; provided that, after the Initial Grant and the first
three Annual Grants have fully vested, then such Non-Employee Director shall automatically be granted an Annual Grant stock option for the purchase of fifteen thousand (15,000) shares of
Common Stock. 

7.    Option Provisions.  

        Each Option shall be in such form and shall contain such terms and conditions as required by the Plan. Each Option shall contain such additional terms and
conditions, not inconsistent with the Plan, as the Board shall deem appropriate. Each Option shall include (through incorporation of provisions hereof by reference in the Option or otherwise) the
substance of each of the following provisions: 

        (a)  Term. No Option shall be exercisable after the expiration of ten (10) 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
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)  Consideration. The purchase price of stock acquired pursuant to an Option may be paid, to the extent permitted by
applicable statutes and regulations, in any combination of the following methods: 

        (i)    By
cash or check. 

        (ii)  Provided
that at the time of exercise the Common Stock is publicly traded and quoted regularly in THE WALL STREET JOURNAL, by delivery of already-owned shares of Common
Stock either that the Optionholder has held for the period required to avoid a charge to the Company's reported earnings (generally six months) or that the Optionholder did not acquire, directly or
indirectly from the Company, that are owned free and clear of any liens, claims, encumbrances or security interests, and that are valued at Fair Market Value on the date of exercise. "Delivery" for
these purposes shall include delivery to the Company of the Optionholder's attestation of ownership of such shares of Common Stock in a form approved by the Company. Notwithstanding the foregoing, the
Optionholder may not exercise the Option by tender to the Company of Common Stock to the extent such tender would violate the provisions of any law, regulation or agreement restricting the redemption
of the Company's stock. 

        (iii)  Provided
that at the time of exercise the Common Stock is publicly traded and quoted regularly in THE WALL STREET JOURNAL, pursuant to a program developed under
Regulation T as promulgated by the Federal Reserve Board that, prior to the issuance of Common Stock, results in either the receipt of cash (or check) by the Company or the receipt of
irrevocable instructions to pay the aggregate exercise price to the Company from the sales proceeds. 

        (d)  Transferability. An Option is transferable by will or by the laws of descent and distribution. An Option also is
transferable (i) by instrument to an inter vivos or testamentary trust, in a form accepted by the Company, in which the Option is to be passed to beneficiaries upon the death of the trustor
(settlor) and (ii) by gift, in a form accepted by the Company, to a member of the "immediate family" of the Optionholder as that term is defined in the general instructions to
Form S-8 (promulgated under the Securities Act). An Option shall be exercisable during the lifetime of the Optionholder only by the Optionholder and a permitted transferee as
provided herein. However, the Optionholder may, by delivering written notice to the Company, in 

a form satisfactory to the Company, designate a third party who, in the event of the death of the Optionholder, shall thereafter be entitled to exercise the Option. 

        (e)  Exercise Schedule. An Option shall be exercisable only for whole shares and then only as the
shares of Common Stock subject to the Option vest. 

        (f)    Vesting Schedule. Options shall vest as follows: 

        (i)    An
Initial Grant shall vest in consecutive monthly installments at a rate of one thirty-sixth (1/36th) of the total number of shares subject to such Option. The first
such installment shall vest one month from the date of grant of such Option and shall continue until such Option has fully vested, provided however, that vesting shall cease on termination of the
Optionholder's Continuous Service. 

        (ii)  An
Annual Grant shall vest in consecutive monthly installments at a rate of one twelfth (1/12th) of the total number of shares subject to such Option. The first such
installment shall vest one month from the date of grant of such Option and shall continue until such Option has fully vested, provided however, that vesting shall cease on termination of the
Optionholder's Continuous Service. 

        (g)  Termination Of Continuous Service. In the event an Optionholder's Continuous Service terminates (other than due to the
Optionholder's death or Disability), the Optionholder may exercise his or her Option (to the extent that the Optionholder was entitled to exercise it as of the date of termination) but only within
such period of time ending on the earlier of (i) the date that is three (3) months after the date of such termination, or (ii) the expiration of the term of the Option as set
forth in the Option Agreement. If, after termination, the Optionholder does not exercise his or her Option within the time specified in the Option Agreement, the Option shall terminate. 

        (h)  Disability Of Optionholder. In the event an Optionholder's Continuous Service terminates due to the Optionholder's
Disability, the Optionholder may exercise his or her Option (to the extent that the Optionholder was entitled to exercise it as of the date of termination), but only within such period of time ending
on the earlier of (i) the date that is twelve (12) months after the date of such termination,
or (ii) the expiration of the term of the Option as set forth in the Option Agreement. If, after termination, the Optionholder does not exercise his or her Option within the time specified
herein, the Option shall terminate. 

        (i)    Death Of Optionholder. In the event (i) an Optionholder's Continuous Service terminates as a result of the
Optionholder's death or (ii) the Optionholder dies within the three-month period after the termination of the Optionholder's Continuous Service for a reason other than death, then the Option
may be exercised (to the extent the Optionholder was entitled to exercise the Option as of the date of death) by the Optionholder's estate, by a person who acquired the right to exercise the Option by
bequest or inheritance or by a person designated to exercise the Option upon the Optionholder's death, but only within the period ending on the earlier of (1) the date that is eighteen
(18) months following the date of death or (2) the expiration of the term of such Option as set forth in the Option Agreement. If, after death, the Option is not exercised within the
time specified herein, the Option shall terminate. 

        (j)    Extension Of Termination Date. If exercise of the Option following the termination of the Optionholder's Continuous
Service would be prohibited at any time solely because the issuance of shares would violate the registration requirements under the Securities Act, then the Option shall terminate on the earlier of:
(i) the expiration of the term of the Option set forth in subsection 7(a), or (ii) the expiration of the applicable period of time after the termination of the Optionholder's Continuous
Service during which the exercise of the Option would not be in violation of such registration requirements. 

8.    Covenants of the Company.  

        (a)  Availability Of Shares. During the terms of the Options, the Company shall keep available at all times the number of
shares of Common Stock required to satisfy such Options. 

        (b)  Securities Law Compliance. The Company shall seek to obtain from each regulatory commission or agency having jurisdiction
over the Plan such authority as may be required to grant Options and to issue and sell shares of Common Stock upon exercise of the Options; provided, however, that this undertaking shall not require
the Company to register under the Securities Act the Plan, any Option or any stock issued or issuable pursuant to any such Option. If, after reasonable efforts, the Company is unable to obtain from
any such regulatory commission or agency the authority which counsel for the Company deems necessary for the lawful issuance and sale of stock under the Plan, the Company shall be relieved from any
liability for failure to issue and sell stock upon exercise of such Options unless and until such authority is obtained. 

9.    Use of Proceeds from Stock.  

        Proceeds from the sale of stock pursuant to Options shall constitute general funds of the Company. 

10.  Miscellaneous.  

        (a)  Stockholder Rights. No Optionholder shall be deemed to be the holder of, or to have any of the rights of a holder with
respect to, any shares subject to such Option unless and until such Optionholder has satisfied all requirements for exercise of the Option pursuant to its terms. 

        (b)  No Service Rights. Nothing in the Plan or any instrument executed or Option granted pursuant thereto shall confer upon
any Optionholder any right to continue to serve the Company as a Non-Employee Director or shall affect the right of the Company or an Affiliate to terminate (i) the employment of an
Employee with or without notice and with or without cause, (ii) the service of a Consultant pursuant to the terms of such Consultant's agreement with the Company or an Affiliate or
(iii) the service of a Director pursuant to the Bylaws of the Company or an Affiliate, and any applicable provisions of the corporate law of the state in which the Company or the Affiliate is
incorporated, as the case may be. 

        (c)  Investment Assurances. The Company may require an Optionholder, as a condition of exercising or acquiring stock under any
Option, (i) to give written assurances satisfactory to the Company as to the Optionholder's knowledge and experience in financial and business matters and/or to employ a purchaser
representative reasonably satisfactory to the Company who is knowledgeable and experienced in financial and business matters and that he or she is capable of evaluating, alone or together with the
purchaser representative, the merits and risks of exercising the Option; and (ii) to give written assurances satisfactory to the Company stating that the Optionholder is acquiring the stock
subject to the Option for the Optionholder's own account and not with any present intention of selling or otherwise distributing the stock. The foregoing requirements, and any assurances given
pursuant to such requirements, shall be inoperative if (iii) the issuance of the shares upon the exercise or acquisition of stock under the Option has been registered under a then currently
effective registration statement under the Securities Act or (iv) as to any particular requirement, a determination is made by counsel for the Company that such requirement need not be met in
the circumstances under the then applicable securities laws. The Company may, upon advice of counsel to the Company, place legends on stock certificates issued under the Plan as such counsel deems
necessary or appropriate in order to comply with applicable securities laws, including, but not limited to, legends restricting the transfer of the stock. 

        (d)  Withholding Obligations. The Optionholder may satisfy any federal, state or local tax withholding obligation relating to
the exercise or acquisition of stock under an Option by any of the following means (in addition to the Company's right to withhold from any compensation paid to the Optionholder by the Company) or by
a combination of such means: (i) tendering a cash 

payment; (ii) authorizing the Company to withhold shares from the shares of the Common Stock otherwise issuable to the Optionholder as a result of the exercise or acquisition of stock under
the Option, provided, however, that no shares of Common Stock are withheld with a value exceeding the minimum amount of tax required to be withheld by law; or (iii) delivering to the Company
owned and unencumbered shares of the Common Stock. 

11.  Adjustments upon Changes in Stock.  

        (a)  Capitalization Adjustments. If any change is made in the stock subject to the Plan, or subject to any Option, 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) and maximum number of securities subject both to the Plan pursuant to subsection 4(a) and to the nondiscretionary Options specified in Section 5, and in
the classes and maximum number of securities added to the Plan each January 1 pursuant to subsection 4(a), and the outstanding Options will be appropriately adjusted in the class(es) and number
of securities and price per share of stock subject to such outstanding Options. 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 Options
shall terminate immediately prior to such event. 

        (c)  Change In Control. In the event of (i) a sale, lease or other disposition of all or substantially all of the
securities or 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,
then any surviving corporation or acquiring corporation may assume any Options outstanding under the Plan or may substitute similar Options (including an option to acquire the same consideration paid
to the stockholders in the transaction described in this subsection 11(c)) for those outstanding under the Plan, and the vesting of Options held by Non-Employee Directors shall accelerate
in full on the date immediately preceding the date of such event. In the event no surviving corporation or acquiring corporation assumes such Options or substitutes similar Options for those
outstanding under the Plan,
then with respect to Options held by Optionholders whose Continuous Service has not terminated, the vesting of such Options (and the time during which such Options may be exercised) shall accelerate
in full on the date immediately preceding the date of such event, and the Options shall terminate if not exercised at or prior to such event. With respect to any other Options outstanding under the
Plan, such Options shall terminate if not exercised prior to such event. 

12.  Amendment of the Plan and Options.  

        (a)  Amendment Of Plan. The Board at any time, and from time to time, may amend the Plan. However, except as provided in
Section 11 relating to adjustments upon changes in 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 Option 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 Optionholder and (ii) the Optionholder consents in writing. 

        (d)  Amendment Of Options. The Board at any time, and from time to time, may amend the terms of any one or more Options;
provided, however, that the rights under any Option shall not be impaired by any such amendment unless (i) the Company requests the consent of the Optionholder and (ii) the Optionholder
consents in writing. 

13.  Termination or Suspension of the Plan.  

        (a)  Plan Term. The Board may suspend or terminate the Plan at any time. No Options 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 Option
granted while the Plan is in effect except with the written consent of the Optionholder. 

14.  Effective Date of Plan.  

        The Plan shall become effective on the IPO Date, 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. 

15.  Choice of Law.  

        All questions concerning the construction, validity and interpretation of this Plan shall be governed by the law of the State of Delaware, without regard to such
state's conflict of laws rules. 

QuickLinks

INTERMUNE, INC. 2000 NON-EMPLOYEE DIRECTORS' STOCK OPTION PLANEXHIBIT 10.47  

April 5,
2002 

Marianne
Armstrong, Ph.D

64 Mountain View Avenue

Mill Valley, CA 94941 

Dear
Marianne: 

        On
behalf of InterMune, Inc. (the "Company"), we are pleased to offer you the position of Senior Vice President of Global Regulatory Operations and Corporate Compliance, reporting
to Dr. Scott Harkonen, the Company's CEO. 

        The
terms of your employment will be as follows: 

        You
will receive a base salary of $20,000 per month, paid on a semi-monthly basis. In addition, the Company will provide you with a one-time sign-on
bonus of $30,000 (plus tax gross up) to be paid one month following your first day of employment, that is subject to repayment in full if your employment terminates before one year. In the event
Genentech, Inc. requires repayment in full or for any part of the Eighty-Five Thousand Dollar ($85,000) taxable subsidy income afforded to you, then the Company will repay the
requested amount. 

        Also,
the Company will lend to you $345,000 to repay the interest-free loan of Three Hundred Seventy-Five Thousand Dollars ($375,000) carried by
Genentech, Inc. on your property at 64 Mountain View Avenue, Mill Valley, California. (Based on the terms of the promissory note dated May 25, 2000 between yourself and
Genentech, Inc., Thirty Thousand Dollars ($30,000) of the loan was forgiven on May 25, 2001.) The term of the loan will be five years, and the other terms and conditions of this loan
will be governed by a loan agreement that you will be required to sign. 

        As
a full-time employee of the Company, you will be eligible for the Company's standard benefits package including medical and dental as well as the employee stock purchase
program, 401K Retirement Plan and our Flexible Spending Plan. Your position is exempt, and you will not be eligible for overtime. 

        Subject
to approval of the Compensation Committee of the Company's Board of Directors, you will be granted an option to purchase 85,000 shares of the Company's common stock. Your right
to exercise the shares of this option will be subject to a vesting schedule, such that 85,000 shares of your option will be fully vested at the end of four years completed employment. The grant will
be made by the Compensation Committee of the Company's Board of Directors at its next meeting after your first day of employment. The exercise price will be the same as the closing price of the
Company's Common Stock on the Nasdaq Exchange on the day before the meeting. Your vesting will begin on your first day of your employment with us; however, it is subject to a one-year
cliff. The terms and conditions of this option, including vesting, will be governed by an agreement that you will be required to sign. 

        As
a condition of your employment, you will be required to provide proof of U.S. citizenship or that you are legally entitled to work in the United States, and to execute and be bound by
the terms of the enclosed Proprietary Information and Inventions Agreement. In that regard, please be aware that Company policy prohibits all employees from bringing to the Company, or using in
performance of their responsibilities at the Company, any confidential information, trade secrets, or proprietary material or processes of any previous employer. Employment with the Company is at
will, is not for any specific term and can be terminated by you or the Company at any time for any reason with or without cause. 

        This
offer remains open through end of the day April 5, 2002. Upon your acceptance of this offer, the terms described in this letter and in the Proprietary Information and
Inventions Agreement shall be the terms of your employment, superseding and terminating any other employment agreements or understandings with InterMune, whether written or oral. Any additions or
modifications of these terms 

must be in writing and signed by you and an officer of the Company. Your anticipated start date is May 1, 2002. 

        Again,
let me indicate how pleased we are to extend this offer, and how much we at InterMune look forward to working with you. We anticipate that you will find this an exciting and
challenging position in a dynamic and growing company. 

        Please
accept this offer by signing and returning the enclosed duplicate original of this letter to me. If you have any questions, please call me or Mireya Ono in the office. 

	Very truly yours,	 	 
	

/s/ Stephen N. Rosenfield

Stephen N. Rosenfield

Senior Vice President of Legal Affairs	
 	

 
	
UNDERSTOOD AND ACCEPTED:	
 	

 
	

/s/ Marianne
Armstrong                                        4/
18/02
 Marianne Armstrong,
Ph.D                                      Date

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00041-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00041-of-00352.parquet"}]]