Document:

Exhibit 10.3

 

	
  

  	
   

  	
  Amylin
  Pharmaceuticals, Inc.

  9360 Towne Centre Drive

  San Diego, CA 92121 USA

  	
  Tel   (858) 552 2200

  Fax   (858) 552 2212

  www.amylin.com

  

 

 

April 09, 2009

 

 

Eli Lilly and Company

Lilly Corporate Center

Indianapolis, IN 46285

Attention:  Bryce Carmine

 

 

	
  Re:

  	
   

  	
  Collaboration Agreement between
  Eli Lilly and Company (“Lilly”) and Amylin Pharmaceuticals, Inc.
  (“Amylin”), dated September 19, 2002, as amended to date (the
  “Collaboration Agreement”)

  

 

 

Dear Bryce:

 

This letter confirms our
understanding with respect to certain amendments to the Collaboration Agreement
and the co-location of certain Lilly personnel at Amylin’s facilities in
furtherance of Amylin’s and Lilly’s efforts under the Collaboration Agreement
to operate efficiently and effectively. 
Capitalized terms used but not defined herein have the meanings given to
them in the collaboration Agreement.

 

1.             The last sentence of Section 12.3(c) of the
Collaboration Agreement is hereby amended and restated to read as follows: “If
such termination occurs after Product Launch, such termination shall be
effective one (1) year after the date of Amylin’s receipt of written
notice from Lilly.  Within 60 days of
Lilly’s notice, the parties will negotiate in good faith, and Alliance Steering
Committee will approve, a mutually agreeable termination transition plan.”

 

2.             As of April 1, 2009, notwithstanding any term of
the Collaboration Agreement to the contrary, including but not limited to the
definition of the term “FTE” or the term “Reimbursable Marketing Expenses,”
each Party’s internal costs, including headcount, that are specifically
attributable to the Development or Commercialization of Product (e.g. specific finance/accounting
support, managed care contracting, etc.) as mutually determined and agreed by
the Alliance Steering Committee shall be reimbursed in accordance with each
Party’s respective standard cost accounting procedures.  The ASC will be responsible for approving the
methodology, plan and rates for these previously unshared expenses.  Each Party shall insure that such internal
costs are not unfairly allocated to the Development or Commercialization of
Product, and that headcount is allocated based on actual time spent on the Product
similar to the procedures specified in Section 1.48 of the Collaboration
Agreement.  Such internal costs shall be
reimbursed in accordance with each Party’s standard cost accounting
procedures.  For purposes of
clarification, such internal Reimbursable Marketing Expenses shall include
internal marketing costs, whether incurred by Amylin or Lilly, including
internal expenses of the types describes in clauses (i) through (xviii) of
Section 1.100 of the Collaboration Agreement, even if incurred internally
by the Parties.

 

3.             With regard to certain Lilly employees to be co-located
at Amylin’s facilities in furtherance of the efforts between Lilly and Amylin
to operate efficiently and effectively (the “Co-located Lilly Employees”), the
Parties shall agree upon a set of operating and human resources principles (the
“Principles”) to be agreed to by April 16, 2009 and approved by the
Alliance Steering Committee.  Those
Principles will address matters deemed necessary for the operation of the
Alliance business and the co-location of employees including, without limitation
the items set forth on Exhibit A hereto.

 

 

If this letter correctly
reflects our agreement as to the foregoing matters, please sign in the space
provided below and return a signed copy of this letter to me.  Unless otherwise set forth in this letter,
the terms of the Collaboration Agreement remain unmodified and in full force
and effect.

 

Regards,

 

 

	
   /s/ Mark J.
  Gergen

  	
   

  
	
  Mark J. Gergen

  	
   

  
	
  Senior Vice President,
  Corporate Development

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Acknowledges and
  Agreed:

  	
   

  
	
   

  	
   

  
	
  Eli
  Lilly and Company

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By: 

  	
  /s/ Bryce D. Carmine

  	
   

  
	
   

  	
   

  	
   

  
	
  Name: 

  	
  Bryce D. Carmine

  	
   

  
	
   

  	
   

  	
   

  
	
  Title: 

  	
  Executive V.P., Global
  Marketing & Sales

  	
   

  
	
   

  	
   

  
	
  Date Signed:
  April 9, 2009

  	
   

  

 

 

	
  

  	
   

  	
  Amylin
  Pharmaceuticals, Inc.

  9360 Towne Centre Drive

  San Diego, CA 92121 USA

  	
  Tel   (858)
  552 2200

  Fax   (858) 552 2212

  www.amylin.com

  

 

 

EXHIBIT A

 

 

The Operating and Human
Resources Principles shall address, without limitation, the following needs, as
well as addressing other operating and human resource matters as the parties
deem advisable or necessary:

 

	
  ·

  	
   

  	
  Co-located Lilly
  Employees located at Amylin will be required to sign a confidentiality
  agreement reasonably acceptable to Amylin and Lilly to cover the potential
  inadvertent exposure to Amylin confidential information not related to the
  Alliance.

  
	
   

  	
   

  	
   

  
	
  ·

  	
   

  	
  Amylin may
  restrict access of Co-located Lilly Employees to information and facilities
  not related to exenatide or not necessary to fulfill their obligations to the
  Alliance.

  
	
   

  	
   

  	
   

  
	
  ·

  	
   

  	
  Each party shall
  be responsible for severance costs for their displaced employees, if any.

  
	
   

  	
   

  	
   

  
	
  ·

  	
   

  	
  Co-located Lilly
  Employees shall remain Lilly employees and not be deemed to be employees of
  Amylin. Similarly, those Amylin employees co-located with the Co-located
  Lilly Employees shall remain Amylin employees and not be deemed to be
  employees of Lilly.

  
	
   

  	
   

  	
   

  
	
  ·

  	
   

  	
  Amylin shall not
  incur any liability for any act or failure to act of any Co-located Lilly
  Employee. Lilly shall not incur any liability for any act or failure to act
  of any Amylin employee. Lilly shall indemnify and defend Amylin against any
  claim brought by or on behalf of a Co-located Lilly Employee to the extent
  caused by any negligent act or omission by Lilly. Amylin shall indemnify and
  defend Lilly against any claim brought by or on behalf of an Amylin employee
  to the extent caused by any negligent act or omission of Amylin.Exhibit 10.1

 

Mary G. Puma

Chairman and CEO

Tel: (978) 787-4226

Fax: (978) 787-4090

 

May 1,
2009

Board
of Directors

Axcelis
Technologies, Inc.

c/o
Stephen R. Hardis, Lead Director

108
Cherry Hill Drive

Beverly,
Massachusetts 01915

 

Re: Modification of Compensation of Chief Executive Officer and
Chairman

 

Dear Members of the Axcelis
Board of Directors:

 

I
am writing to propose that my base pay at Axcelis Technologies, Inc. (the “Company”)
be reduced to a rate of $400,000 per year for the calendar years 2009 and
2010.  This amount represents a 20%
reduction from my current rate of pay, which has been set forth in the Amended
and Restated Employment Agreement between the Company and me effective November 6,
2007 (the “Employment Agreement”).  For
the calendar year 2009, my rate of pay shall be reduced beginning with the
first payroll after the Compensation Committee of the Board of Directors
accepts this proposal, and such rate shall take into account the pay reductions
previously implemented during 2009 through unpaid shutdowns.  I have previously informed you that I would
not accept a bonus payment for 2008 and I also propose that I will not have a
bonus opportunity in respect of the calendar year 2009.

 

Accordingly,
this letter will serve as my agreement to modifications of:

 

(A) the
minimum annual rate of base pay set forth in Section 3 of the Employment
Agreement to the amount of $400,000 for calendar years 2009 and 2010; and

 

(B) the
provisions of Section 5 of the Employment Agreement pertaining to  annual bonuses to reflect my proposals
regarding the 2008 and 2009 bonuses described in the above paragraph.

 

In
the event that I am at any time entitled to separation pay under the Employment
Agreement or under the Change of Control Agreement between the Company and me
dated as of November 6, 2007, my base compensation rate and bonus
opportunities shall be unaffected by this letter and all amounts due to me
shall be calculated as if the modifications described in this letter had never
taken effect.

 

Sincerely,

 

	
  /s/
  Mary G. Puma

  	
   

  
	
  Mary
  G. Puma

  	
   

  
	
  Chairman
  and Chief Executive OfficerEXHIBIT
10.1

 

AMENDMENT
NO. 3 TO MANUFACTURING AGREEMENT

 

THIS AMENDMENT NO. 3 TO MANUFACTURING AGREEMENT
(this “Third  Amendment”)
is made and entered into as of March 25, 2009 (the “Effective
Date”), by and between Osiris Therapeutics, Inc., a
Delaware corporation (“Osiris”),
and NuVasive, Inc., a Delaware corporation (“NuVasive”).

 

RECITALS

 

WHEREAS, on May 8, 2008, Osiris and NuVasive
entered into an Asset Purchase Agreement pursuant to which Osiris agreed to
sell, and NuVasive agreed to purchase, technology related to manufacturing the
Osteocel product line (as more specifically set forth therein), such sale and
purchase taking place July 24, 2008, which Asset Purchase Agreement was
subsequently amended September 30, 2008 (the “Purchase
Agreement”).

 

WHEREAS, pursuant to the Purchase Agreement, on July 24,
2008, Osiris and NuVasive entered into a Manufacturing Agreement whereby Osiris
agreed to manufacture and deliver to NuVasive, and NuVasive agreed to purchase,
the Product (as defined therein), which Manufacturing Agreement was
subsequently amended on September 30, 2008 and on October 22, 2008
(the “Manufacturing Agreement”).

 

WHEREAS, Osiris and NuVasive wish to enter into this
Third Amendment to provide for the end of the Term of the Manufacturing Agreement
and to provide for the terms and conditions associated with such termination.

 

NOW, THEREFORE, in consideration for the mutual
covenants of the parties expressed herein, the sufficiency of which
consideration is acknowledged, it is agreed that the Manufacturing Agreement is
amended as of the Effective Date as follows:

 

AMENDMENT

 

1.                                 Defined Terms. 
Except as otherwise provided in this Amendment, capitalized terms will
have the meanings assigned to them in the Manufacturing Agreement.

 

2.                                 Termination of Manufacturing Agreement.  Notwithstanding anything to the contrary in
the Manufacturing Agreement, NuVasive and Osiris agree that:

 

(a)                                  Section 7.1 of the Manufacturing Agreement shall be deleted in its
entirety and inserting in its place the following.

 

“This Agreement shall commence on the Effective Date
and remain in effect until the fifteenth day following the execution by
NuVasive and Osiris of this Amendment (the “Termination Date”) and immediately following the Termination Date, Osiris shall cease all
manufacturing operations with respect to the Product except as set forth in
this Agreement as amended by the Third Amendment.”

 

1

 

(b)                                 NuVasive and Osiris shall use commercially reasonable efforts to obtain
the consent of AlloSource to terminate that certain Amended and Restated Tissue
Procurement Processing and Supply Agreement by and between Osiris and
AlloSource, dated February 1, 2008 (the “AlloSource Supply Agreement”).  In the event that AlloSource does
not agree to terminate the AlloSource Supply Agreement, NuVasive agrees to
assume the AlloSource Supply Agreement.

 

(c)                                  In the event that AlloSource requests Product to be shipped in freezers
designated to be assets of NuVasive, NuVasive hereby authorizes Osiris to ship
such Product in such freezers to AlloSource.

 

3.                                 Full Force and Effect. 
Except as set forth in this Amendment, the Manufacturing Agreement shall
continue unmodified and in full force and effect.

 

4.                                 Counterparts. 
This Amendment may be executed in any number of counterparts, all of
which shall be deemed one original and complete instrument.

 

5.                                 Insurance.  “Section 6.5 of the Manufacturing
agreement will be amended to replace the word “occurrence” to ‘claims made”.

 

 

[Remainder of page left
intentionally blank]

 

2

 

IN WITNESS WHEREOF, the parties have executed this
Amendment No. 3 to Manufacturing Agreement as of the date first set forth
above.

 

 

	
  OSIRIS THERAPEUTICS, INC.

  	
   

  	
  NUVASIVE, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By: 

  	
  /s/ Richard W. Hunt

  	
   

  	
  By: 

  	
  /s/ Jason Hannon

  
	
  Name: 

  	
  Richard W. Hunt

  	
   

  	
  Name: 

  	
  Jason Hannon

  
	
  Its: 

  	
  Chief Financial Officer

  	
   

  	
  Its: 

  	
  Senior Vice President,
  General Counsel and Secretary

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