Document:

<Page>

                                                                    Exhibit 10.2

                              EMPLOYMENT AGREEMENT

         THIS EMPLOYMENT AGREEMENT (the "Agreement") is made and entered into
effective as of November 16, 2001, by and between Maxim Pharmaceuticals, Inc.,
(the "Company"), and Dale A. Sander ("Executive"). The Company and Executive are
hereinafter collectively referred to as the "Parties," and individually referred
to as a "Party."

                                    RECITALS

         A.       The Company desires assurance of the association and services
of Executive in order to retain Executive's experience, skills, abilities,
background and knowledge, and is willing to engage Executive's services on the
terms and conditions set forth in this Agreement.

         B.       Executive desires to be in the employ of the Company, and is
willing to accept such employment on the terms and conditions set forth in this
Agreement.

                                    AGREEMENT

         In consideration of the foregoing recitals and the mutual promises and
covenants herein contained, and for other good and valuable consideration, the
Parties, intending to be legally bound, agree as follows:

1.       EMPLOYMENT.

         1.1      The Company hereby employs Executive, and Executive hereby
accepts continued employment by the Company, upon the terms and conditions set
forth in this Agreement, effective as of the date first set forth above
("Commencement Date"). This Agreement shall continue in effect until terminated
pursuant to Section 5 below.

         1.2      Executive shall be the Senior Vice-President, Finance, Chief
Financial Officer and Corporate Secretary of the Company (or a position of at
least comparable status) and shall serve in such other capacity or capacities as
the Chief Executive Officer and/or the Company's Board of Directors ("Board")
may from time to time prescribe.

         1.3      Executive shall do and perform all services, acts or things
necessary or advisable to manage and conduct the business of the Company and
which are normally associated with the position of Senior Vice-President,
Finance, Chief Financial Officer and Corporate Secretary of the Company,
consistent with the Bylaws of the Company, as well as its general employment
policies and practices, including, but not limited to management of the
corporate administrative activities, record keeping and reporting requirements,
preparation and review of corporate documents related to regulatory requirements
and board activities, preparation of budgets and strategic business plans,
analysis for acquisitions and other business transactions, investor relations
and development and maintenance of financial community relationships necessary
for raising additional debt and/or equity capital. However, at all times during
his employment Executive shall be subject to the direction and policies from
time to time established by the Board and/or the Chief Executive Officer.

         1.4      Unless the Parties otherwise agree in writing, during the term
of this Agreement, Executive shall perform the services he is required to
perform pursuant to this Agreement at the Company's offices, located at 8899
University Center Lane, Suite 400 or at any other place at which the Company
maintains an office; provided, however, that the Company may from time to time
require Executive to travel temporarily to other locations in connection with
the Company's business.

<Page>

2.       LOYAL AND CONSCIENTIOUS PERFORMANCE; NONCOMPETITION.

         2.1      During his employment by the Company, Executive shall devote
his full business energies, interest, abilities and productive time to the
proper and efficient performance of his duties under this Agreement.

         2.2      During the term of this Agreement, Executive shall not engage
in competition with the Company, either directly or indirectly, in any manner or
capacity, as adviser, principal, agent, partner, officer, director, employee,
member of any association or otherwise, in any phase of the business of
developing, manufacturing and marketing of products which are in the same field
of use or which otherwise compete with the products or proposed products of the
Company.

         2.3      Ownership by Executive, as a passive investment, of less than
one percent (1%) of the outstanding shares of capital stock of any corporation
with one or more classes of its capital stock listed on a national securities
exchange or publicly traded in the over-the-counter market shall not constitute
a breach of this paragraph.

3.       COMPENSATION OF EXECUTIVE.

         3.1      While employed by the Company, as compensation for proper and
satisfactory performance of all duties to be performed hereunder, the Company
shall pay Executive an annual base salary of Two Hundred Fifty Thousand Dollars,
$250,000 per year (the "Base Salary"), payable in regular periodic payments in
accordance with Company policy. Such salary shall be prorated for any partial
year of employment on the basis of a 365-day fiscal year. In addition, Executive
will be eligible for an incentive bonus of up to 20% of base salary, based upon
defined milestone, during the agreement period. In addition, Executive will
receive $40,000 upon approval of the U.S. NDA for Ceplene if such approval is
obtained by November 17, 2002.

         3.2      Executive's compensation may be changed from time to time by
mutual agreement of Executive and the Board.

         3.3      All of Executive's compensation shall be subject to customary
withholding taxes and any other employment taxes as are commonly required to be
collected or withheld by the Company.

         3.4      Executive shall be entitled to vacation and illness days
consistent with the Company's standard practice for its employees generally.

         3.5      Executive shall, at the discretion of the Board, be entitled
to participate in the benefits for which he is eligible under the terms and
conditions of the standard Company benefits which may be in effect from time to
time and provided by the Company.

4.       EXPENSE REIMBURSEMENT.

         4.1      Executive shall be entitled to receive prompt reimbursement of
all reasonable business and travel expenses incurred by Executive in connection
with the business of the Company. Such expenses must be properly accounted for
under the policies and procedures established by the Company.

5.       TERMINATION.

         5.1      The Company may terminate Executive's employment under this
Agreement "for cause" by delivery of written notice to Executive specifying the
cause or causes relied upon for such termination. If Executive's employment
under this Agreement is terminated by the Company for cause under this section,
Executive shall be entitled to receive only accrued Base Salary and other
accrued benefits required by law, prorated to the date of termination. Executive
will not be entitled to severance pay, pay in lieu of notice or any other such
compensation. Grounds for the Company to terminate this Agreement "for cause"
shall be limited to the occurrence of any of the following events:

                                       2
<Page>

                  5.1.1    If Executive is in material breach of any provision
of this Agreement;

                  5.1.2    Executive's engaging or in any manner participating
in any activity which is competitive with or intentionally injurious to the
Company or which violates any provision of Section 7 of this Agreement;

                  5.1.3    Executive's commission of any fraud against the
Company or use or appropriation for his personal use or benefit of any funds or
properties of the Company not authorized by the Board to be so used or
appropriated;

                  5.1.4    Executive's conviction of any crime involving
dishonesty or moral turpitude;

                  5.1.5    Conduct by Executive which in good faith and
reasonable determination of the Board demonstrates gross unfitness to serve.

         Any notice of termination given pursuant to this Section 5.1 shall
effect termination as of the date specified in such notice or, in the event no
such date is specified, on the last day of the month in which such notice is
delivered or deemed delivered as provided in Section 9 below.

         5.2      The Company may terminate the Executive's employment at any
time without cause upon delivery of written notice to the Executive. Any notice
of termination given pursuant to this Section 5.2 shall effect termination as of
the date specified in such notice or, in the event no such date is specified, on
the last day of the month in which such notice is delivered or deemed delivered
as provided in Section 9 below. If such termination shall occur under this
Section 5.2, then in lieu of all other remedies and as liquidated damages,
Executive shall be entitled to continuation of Base Salary and health benefits
for a period of six (6) months from said date of termination with such Base
Salary continuation to be at the rate set forth in Section 3.1 or, if greater,
at the rate of Executive's then current compensation in effect as of the date of
termination.

         5.3      The parties may mutually agree at any time to terminate this
Agreement upon such terms and conditions as may be agreed upon in writing.

         5.4      This Agreement shall terminate without notice upon the date of
Executive's death or the date when Executive becomes "completely disabled" as
that term is defined in Section 6.2

         5.5      Notwithstanding any provision to the contrary herein, unless
otherwise provided herein or unless otherwise provided by law, Executive may at
any time terminate his employment with the Company hereunder. In such event, the
Company shall not be liable to Executive for the payment of any amount other
than accrued Base Salary and other accrued benefits required by law, prorated to
the date of termination. Executive will not be entitled to severance pay, pay in
lieu of notice or any other such compensation.

6.       DEATH OR DISABILITY DURING TERM OF EMPLOYMENT.

         6.1      Upon termination of Executive's employment pursuant to Section
5.4, Executive or his estate or personal representative, as the case may be,
shall be entitled to receive Executive's Base Salary and benefits for a period
of one month following the date of death or the date when Executive becomes
completely disabled.

         6.2      The term "completely disabled" as used in this Agreement shall
mean the inability of Executive to perform the essential functions of his
position under this Agreement by reason of any incapacity, physical or mental,
which the Board of the Company, based upon medical advice or an opinion provided
by a licensed physician acceptable to the Board of the Company and approved by
the Executive, which approval shall not be unreasonably withheld, determines to
have incapacitated Executive from satisfactorily performing any or all essential
functions of his position for the Company during the foreseeable future. Based
upon such medical advice or opinion, the determination of the

                                       3
<Page>

Board of the Company shall be final and binding and the date such determination
is made shall be the date of such complete disability for purposes of this
Agreement.

7.       CONFIDENTIAL INFORMATION; NONSOLICITATION.

         7.1      Executive recognizes that his employment with the Company will
involve contact with information of substantial value to the Company, which is
not generally known in the trade, and which gives the Company an advantage over
its competitors who do not know or use it, including but not limited to,
techniques, designs, drawings, processes, inventions, developments, equipment,
prototypes, sales and customer information, and business and financial
information relating to the business, products, practices and techniques of the
Company (hereinafter referred to as "Confidential Information"). Executive will
at all times regard and preserve as confidential such Confidential Information
obtained by Executive from whatever source and will not, either during his
employment with the Company or thereafter, publish or disclose any part of such
Confidential Information in any manner at any time, or use the same except on
behalf of the Company, without the prior written consent of the Company. As a
condition of this Agreement, Executive will sign and return a copy of the
Company's "Proprietary Information and Inventions Agreement," attached as
Exhibit A.

         7.2      While employed by the Company and for one (1) year thereafter,
the Executive agrees that in order to protect the Company's confidential and
proprietary information from unauthorized use, that Executive will not, either
directly or through others, solicit or attempt to solicit any employee,
consultant or independent contractor of the Company to terminate his or her
relationship with the Company in order to become an employee, consultant or
independent contractor to or for any other person or business entity; or the
business of any customer, vendor or distributor of the Company which, at the
time of termination or one (1) year immediately prior thereto, was listed on
Company's customer, vendor or distributor list.

8.       ASSIGNMENT AND BINDING EFFECT.

         8.1      This Agreement shall be binding upon and inure to the benefit
of Executive and Executive's heirs, executors, personal representatives,
assigns, administrators and legal representatives. Because of the unique and
personal nature of Executive's duties under this Agreement, neither this
Agreement nor any rights or obligations under this Agreement shall be assignable
by Executive. This Agreement shall be binding upon and inure to the benefit of
the Company and its successors, assigns and legal representatives.

9.       NOTICES.

         9.1      All notices or demands of any kind required or permitted to be
given by the Company or Executive under this Agreement shall be given in writing
and shall be personally delivered (and receipted for) or mailed by certified
mail, return receipt requested, postage prepaid, addressed as follows:

                  9.1.1             If to the Company:

                                    LARRY STAMBAUGH
                                    MAXIM PHARMACEUTICALS, INC.
                                    8899 UNIVERSITY CENTER LANE
                                    SUITE 400
                                    SAN DIEGO, CA  92122

                                       4
<Page>

                  9.1.2             If to Executive:

                                    DALE SANDER
                                    MAXIM PHARMACEUTICALS, INC.
                                    8899 UNIVERSITY CENTER LANE
                                    SUITE 400
                                    SAN DIEGO, CA  92122

Any such written notice shall be deemed received when personally delivered or
three (3) days after its deposit in the United States mail as specified above.
Either Party may change its address for notices by giving notice to the other
Party in the manner specified in this section.

10.      CHOICE OF LAW.

         10.1     This Agreement is made in San Diego, California. This
Agreement shall be construed and interpreted in accordance with the laws of the
State of California.

11.      INTEGRATION.

         11.1     This Agreement contains the complete, final and exclusive
agreement of the Parties relating to the subject matter of this Agreement, and
supersedes all prior oral and written employment agreements or arrangements
between the Parties.

12.      AMENDMENT.

         12.1     This Agreement cannot be amended or modified except by a
written agreement signed by Executive and the Company.

13.      WAIVER.

         13.1     No term, covenant or condition of this Agreement or any breach
thereof shall be deemed waived, except with the written consent of the Party
against whom the wavier in claimed, and any waiver or any such term, covenant,
condition or breach shall not be deemed to be a waiver of any preceding or
succeeding breach of the same or any other term, covenant, condition or breach.

14.      SEVERABILITY.

         14.1     The finding by a court of competent jurisdiction of the
unenforceability, invalidity or illegality of any provision of this Agreement
shall not render any other provision of this Agreement unenforceable, invalid or
illegal. Such court shall have the authority to modify or replace the invalid or
unenforceable term or provision with a valid and enforceable term or provision
which most accurately represents the parties' intention with respect to the
invalid or unenforceable term or provision.

15.      INTERPRETATION; CONSTRUCTION.

         15.1     The headings set forth in this Agreement are for convenience
of reference only and shall not be used in interpreting this Agreement. This
Agreement has been drafted by legal counsel representing the Company, but
Executive has been encouraged, and has consulted with, his own independent
counsel and tax advisors with respect to the terms of this Agreement. The
Parties acknowledge that each Party and its counsel has reviewed and revised, or
had an opportunity to review and revise, this Agreement, and the normal rule of
construction to the effect that any ambiguities are to be resolved against the
drafting party shall not be employed in the interpretation of this Agreement.

16.      REPRESENTATIONS AND WARRANTIES.

         16.1     Executive represents and warrants that he is not restricted or
prohibited, contractually or otherwise, from entering into and performing each
of the terms and covenants contained in this Agreement, and that his execution

                                       5
<Page>

and performance of this Agreement will not violate or breach any other
agreements between Executive and any other person or entity.

17.      COUNTERPARTS.

         17.1     This Agreement may be executed in two counterparts, each of
which shall be deemed an original, all of which together shall contribute one
and the same instrument.

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

                                      The Company:

                                      MAXIM PHARMACEUTICALS, INC.

                                      By:  /s/ LARRY G. STAMBAUGH
                                      ------------------------------------------
                                      Larry G. Stambaugh
                                      Chairman of the Board, President and Chief
                                      Executive Officer

                                      EXECUTIVE:

                                      /s/ DALE A. SANDER
                                      ------------------------------------------
                                      Dale A. Sander

                                       6<Page>

                                                                    Exhibit 10.3

                              EMPLOYMENT AGREEMENT

         EMPLOYMENT AGREEMENT made as of the 16th day of November, 2001 between
Maxim Pharmaceuticals, Inc. ("Company") and Larry G. Stambaugh ("Executive").

                              PRELIMINARY STATEMENT

         WHEREAS, the Company wishes to retain the Executive as Chairman of the
Board of Directors, President and Chief Executive Officer of the Company, and
the Executive wishes to continue in such positions, all on the terms and
conditions set forth in this Agreement;

         NOW, THEREFORE, in consideration of the premises, and for other good
and valuable consideration, the Company and the Executive agree as follows:

         1.       TERM OF AGREEMENT. This Agreement shall commence on October 1,
2001 and shall continue in effect until terminated pursuant to Section 5 hereof.

         2.       POSITION AND DUTIES. Except as may otherwise be agreed upon
between the Company and the Executive, the Company agrees to employ the
Executive, and the Executive agrees to serve the Company, as Chairman of the
Board of Directors, President and Chief Executive Officer. The Executive shall
render such services to the Company as are customary for such positions and
perform all other services incident thereto. At all times, the Executive shall
report directly to the Board of Directors of the Company. The Executive shall
devote substantially all of his working time and efforts to the business and
affairs of the Company, except for time spent for service on the boards of
directors of other corporations, vacations as defined by Company policy and
civic and charitable activities, and shall represent the Company within its
industry.

         3.       PLACE OF PERFORMANCE. In connection with his employment by the
Company, the Executive shall, except as the Executive may otherwise agree,
perform his principal activities at the offices of the Company located in San
Diego, California, subject to travel reasonably required for the Company's
business.

         4.       COMPENSATION AND RELATED MATTERS.

                  4.1      BASE SALARY. During the Term, the Company shall pay
to the Executive, in approximately equal installments not less often than twice
per month, a base salary of not less than $425,000 per year and such base salary
shall

<Page>

be subject to increase, but not reduction, from time to time based upon
recommendations from the Compensation Committee to the Board of Directors. All
amounts payable to the Executive pursuant to this Agreement shall be paid
subject to such reporting and withholding requirements, if any, as may be
imposed by applicable law and applicable Company policy.

                  4.2      Incentive Plan. The Executive shall be eligible to
receive bonus payments pursuant to a plan to be prepared by the Company's Board
of Directors with the Executive's participation ("Bonus Plan"). The Bonus Plan
shall provide that, assuming reasonable satisfaction of the performance criteria
to be set forth in the Bonus Plan, the Executive shall be eligible to earn an
annual bonus with respect to each of the Company's fiscal years during the Term
in an amount up to 35% of the Executive's annualized base salary hereunder, such
bonus to be payable within ninety days after the end of each such fiscal year.
The bonus will be based upon the annualized base salary for the year in which
the bonus applies. In addition, Executive will receive $150,000 upon approval of
the U.S. NDA for Ceplene if such approval is obtained by November 17, 2002.

                  4.3      BENEFIT PLANS AND ARRANGEMENT. The Executive shall be
entitled to participate in and receive benefits under the Company's employee
benefit plans and arrangements in effect during the Term. The Company shall pay
the entire cost of the Executive's health, life and disability insurance
coverage under the Company's plans and policies during the Term, notwithstanding
anything to the contrary in such plans and policies.

                  4.4      PERQUISITES. During the Term, the Executive shall be
entitled to receive fringe benefits ordinarily and customarily provided by the
Company to its senior officers.

                  4.5      EXPENSES. The Company shall promptly reimburse the
Executive for all normal out-of-pocket expenses related to the Company's
business actually paid or incurred by him in the performance of his services
under this Agreement.

         5.       TERMINATION. The Executive's employment hereunder may be
terminated under the following circumstances (without impairing the Executive's
rights under benefit plans and arrangements and the Company's policies and
procedures):

                  5.1      TERMINATION UPON DEATH OR PERMANENT DISABILITY. The
Term shall automatically terminate in the event of the death or permanent
disability of Executive. For purposes of this Agreement, "permanent disability"

                                       2
<Page>

shall mean the inability to perform services hereunder for a period of six
consecutive months.

                  5.2      TERMINATION BY COMPANY FOR CAUSE. The Company shall
have the option to terminate the Term (a) for cause in the event the Executive
engages in grossly negligent conduct or willful misconduct in connection with
the execution of his duties hereunder which materially and adversely affects the
Company, after written notice by the Company to the Executive of the specific
acts that form the basis for the termination, and (b) for the Executive's
material nonperformance of his duties hereunder, provided the nonperformance
continues uncorrected for a period of thirty days after written notice thereof
by the Company to the Executive specifically identifying the manner in which the
Company believes the Executive has not performed his duties. For purposes of
this Section 5.2, no act, or failure to act, on the Executive's part shall be
considered "willful" unless done, or omitted to be done, by him not in good
faith and without reasonable belief that his act or omission was in the best
interests of the Company.

                  5.3      SEVERANCE. If the Company terminates Executive's
employment other than for cause pursuant to Section 5.2, Executive, in lieu of
all other remedies and as liquidated damages, shall be entitled to receive
continuation of his then annual base salary plus health care insurance coverage
for a period of three (3) years from said date of termination, with such base
salary continuation to be at the rate set forth in section 4.1 or, if greater,
the rate of the Executive's current base salary at the date of termination.

Nothing herein shall derogate from the Executive's rights under employee benefit
plans, programs and arrangements or under applicable law.

                  5.4      CONSTRUCTIVE DISCHARGE. Any significant reduction or
adverse change in the nature or scope of the Executive's authority, duties,
status or position contemplated by Section 2 hereof, including an involuntary
relocation, or a reduction the base salary and/or benefits of the Executive from
those provided for in Section 4 hereof as they may from time to time be in
effect, will be the basis for the Executive's termination of this Agreement by
giving at least 30 days prior notice to the Company and in such event the
termination will be treated as a termination by the Company without cause under
Section 5.3.

                  5.5      BENEFITS UPON TERMINATION FOR CAUSE OR VOLUNTARY
TERMINATION BY EXECUTIVE. In the event the Company properly terminates
Executive's employment under this Agreement for cause pursuant to Section 5.2 or
Executive voluntary resigns from his employment during the Term:

                                       3
<Page>

                           a.       all salary shall be prorated as of the date
of termination and such prorated amount shall be paid to Executive;

                           b.       all stock options or stock appreciation
rights granted to Executive shall be governed by the instruments granting such
rights; and

                           c.       the Company shall (i) make such other and
further payment to Executive, his designated beneficiaries and his dependents as
may be provided pursuant to the terms of any employee benefit plan and other
compensation plans, programs and structures, or fringe benefit programs in which
Executive is a participant at the time of the termination of his employment with
the Company and (ii) promptly reimburse the Executive for any then unreimbursed
out-of-pocket expenses pursuant to Section 4.6.

         6.       ATTORNEYS FEES. If litigation shall be instituted to enforce
or interpret any provision hereof the prevailing party will reimburse the other
part for his reasonable attorneys' fees and disbursements incurred in such
proceeding and will pay prejudgment interest at the legal rate then in effect on
any money judgment or award obtained in such proceeding.

         7.       NOTICE. For the purposes of this Agreement, notices, demands
and all other communications provided for in the Agreement shall be in writing
and shall be deemed to have been duly given when delivered or mailed by United
States registered mail, return receipt requested, postage prepaid, addressed as
follows:

         If to the Executive:

         Larry G. Stambaugh
         Maxim Pharmaceuticals
         8899 University Center Lane, Suite 400
         San Diego, California 92122

         If to the Company:

         Maxim Pharmaceuticals, Inc.
         8899 University Center Lane, Suite 400
         San Diego, California 92122
         Attn:  Corporate Secretary

                                       4
<Page>

or to such other address as either party may have furnished to the other in
writing in accordance herewith, except that notices of change in address shall
be effective only upon receipt.

         8.       MISCELLANEOUS. No provisions of this Agreement may be
modified, waived or discharged unless such waiver, modification or discharge is
agreed to in writing signed by the Executive and the Company. No waiver by
either party hereto at any time of any breach by the other party hereto of, or
compliance with, any condition provision of this Agreement to be performed by
such other party shall be deemed a waiver of similar or dissimilar provision or
conditions at the same or at any proper or subsequent time. No agreements or
representations, oral otherwise, expressed or implied, with respect to the
subject matter hereof have been made by either party which are not set forth
expressly or referred to in this Agreement. The validity, interpretation,
construction and performance of this Agreement shall be governed by the laws of
the State of California relating to contracts to be performed entirely therein.

         9.       VALIDITY. The invalidity or unenforceability of any provision
or provisions of this Agreement shall not affect the validity or enforceability
of any other provision of this Agreement, which shall remain in full force and
effect.

         10.      HEADINGS. The headings of the paragraphs herein are for
convenience only and shall have no significance in the interpretation of this
Agreement.

         11.      BIND AND INURE. This Agreement shall be binding upon and inure
to the benefit of the parties hereto and their heirs, personal representatives
and successors, including any successor of the Company by reason of any
dissolution, merger, consolidation, sale of assets or other reorganization of
the Company.

         12.      COUNTERPARTS. This Agreement may be executed in one or more
counterparts, each of which shall be deemed to be an original but all of which
together will constitute one and the same instrument.

                                       5
<Page>

IN WITNESS WHEREOF, the Company has caused this Agreement to be executed and its
seal to be affixed hereunto by its officer thereunto duly authorized, and
Executive has signed this Agreement, as of the day and year first above written.

MAXIM PHARMACEUTICALS, INC.

By:     /s/ DALE A. SANDER
   -----------------------------
Dale A. Sander
Vice President, Finance and
Chief Financial Officer

Date:  November 16, 2001

 /s/ LARRY G. STAMBAUGH
---------------------------------
Executive

                                       6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00033-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00033-of-00352.parquet"}]]