Document:

Exhibit

Exhibit 10.1
[Jazz Pharmaceuticals Letterhead]
February 20, 2020
Renée Galá
Re:    Offer of employment with Jazz Pharmaceuticals
Dear Renée,
I am very pleased to invite you to join Jazz Pharmaceuticals. This letter sets out the terms of your employment with Jazz Pharmaceuticals, Inc. (“Jazz Pharmaceuticals” or the “Company”).
		
	1.
	Duties and Responsibilities. Your initial assignment will be as Executive Vice President and Chief Financial Officer, reporting to me. This offer is for a full-time position, located at Jazz Pharmaceuticals’ offices in Palo Alto. The position may require you to travel from time to time to other locations as may be necessary to fulfill your responsibilities. As part of your employment relationship, you agree to comply with Jazz Pharmaceuticals’ policies and procedures in effect from time to time during your employment. As an exempt employee, you are expected to work the number of hours required to do your job well, and you are not eligible for overtime compensation.

		
	2.
	Salary; Annual Bonus; Signing Bonus. Your initial annual base salary rate will be $600,000 payable in accordance with Jazz Pharmaceuticals’ customary payroll practices, for all hours worked. Salary is subject to periodic review and adjustment by Jazz Pharmaceuticals, in accordance with its normal practices; we have a company-wide performance review process that takes place early in each calendar year.

You will be eligible to participate in the  Jazz Pharmaceuticals plc Cash Bonus Plan (U.S. Affiliates) under which annual bonuses may be given based on the Company meeting its annual objectives, and each employee’s meeting of his or her objectives, subject to the terms and conditions of the cash bonus plan. Bonuses are not guaranteed, and whether there will be a bonus in any year, and the amount of any bonus, is within the discretion of the Board of Directors. In this role, you will be eligible for consideration of an annual incentive bonus target currently set at 55%; your bonus amount for 2020 will be prorated due to your partial year of employment.

In addition, Jazz Pharmaceuticals will pay you a signing bonus of $25,000, less all required withholdings, paid to you in a lump sum on the first regular pay date occurring 30 days after your employment start date, subject to your continued employment in good standing with Jazz Pharmaceuticals through such payment date. You will be required to repay the signing bonus if you resign your employment with Jazz within one year of your employment start date. You will be expected to repay to Jazz Pharmaceuticals the full amount of the signing bonus on your last day of employment or within 30 days thereafter.
		
	3.
	Benefits. You generally will be eligible to receive all benefits which are extended to other similarly-situated employees at Jazz Pharmaceuticals, subject to the terms and conditions of the benefit plans, including medical and dental benefits, life insurance and other benefits offered to regular employees. You will be eligible for paid time off and holidays in accordance with Jazz Pharmaceuticals’ policies, and you will be a participant in the Company’s Amended and Restated Executive Change in Control and Severance Benefit Plan.

		
	4.
	Equity.  Your offer includes a grant of options to purchase 41,500 Jazz Pharmaceuticals plc ordinary shares and a grant of 16,600 restricted stock units (RSUs) giving you a right to receive Jazz Pharmaceuticals plc ordinary shares at a future date, subject to approval by the Compensation Committee, the terms and conditions of the Jazz Pharmaceuticals plc 2011 Equity Incentive Plan, and the terms and conditions of the applicable award agreements, which will be provided to you as soon as practicable after the grant date.  Subject to your continued employment on each vesting date, the options will vest 1/4th on the first annual anniversary of your start date and 1/48th of the total granted per month thereafter, and the RSUs will vest 1/4th annually over four years. The options will have an exercise price that equals the fair market value of Jazz Pharmaceuticals plc ordinary shares on the date of grant. The RSUs will have no exercise price. The options and RSUs will be granted on the second trading day following the filing date of the Company’s next quarterly report filed with the U.S. Securities and Exchange Commission following your start date in accordance with the Company’s Equity Incentive Grant Policy.

		
	5.
	Confidential Information; Employee Confidential Information and Inventions Agreement. To enable Jazz Pharmaceuticals to safeguard its proprietary and confidential information, it is a condition of employment that you sign Jazz Pharmaceuticals’ standard form of “Employee Confidential Information and Inventions Agreement.” We understand that you are likely to have signed similar agreements with prior employers, and wish to impress upon you that Jazz

Pharmaceuticals does not want to receive the confidential or proprietary information of others, and will support you in respecting your lawful obligations to prior employers. By accepting this offer, you are representing to Jazz Pharmaceuticals that your performance of your duties will not violate any agreements you may have with, or trade secrets of, any third parties. You agree that, during your employment with Jazz Pharmaceuticals, you will not engage in any business activity that competes with Jazz Pharmaceuticals, and you will notify your supervisor if you are considering accepting outside work.
		
	6.
	Code of Conduct. Jazz Pharmaceuticals is committed to integrity and the pursuit of excellence in all we do. We fulfill these commitments while upholding a high level of ethical conduct. The Code of Conduct is one element of Jazz Pharmaceuticals’ efforts to ensure lawful and ethical conduct by the company and its subsidiaries and their employees, officers and directors. It is a condition of employment that you read, agree to and sign Jazz Pharmaceuticals’ Code of Conduct in the first week of employment. If you have questions about the Code of Conduct, please let Human Resources know and we will ensure that you receive answers to your inquiries as quickly as possible.

		
	7.
	At-Will Employment. Should you decide to accept our offer, you will be an “at-will” employee of Jazz Pharmaceuticals. This means that either you or Jazz Pharmaceuticals may terminate the employment relationship with or without cause at any time. Participation in any benefit, compensation or bonus program does not change the nature of the employment relationship, which remains “at-will”.

		
	8.
	Authorization to Work. Federal government regulations require that all prospective employees present documentation verifying their identity and demonstrating that they are authorized to work in the United States. If you have any questions about this requirement, which applies to U.S. citizens and non-U.S. citizens alike, please contact Heidi Manna, our Senior Vice President, Human Resources. Your employment is contingent on your ability to prove your identity and authorization to work in the United States, and you’re complying with the government’s employment verification requirements.

		
	9.
	Complete Offer and Agreement. This letter contains our complete understanding and agreement regarding the terms of your employment by Jazz Pharmaceuticals. There are no other, different or prior agreements or understandings on this or related subjects. Changes to the terms of your employment can be made only in a writing signed by you and the Chief Executive Officer of Jazz Pharmaceuticals, although it is understood that as part of the policy of employment at will, Jazz Pharmaceuticals may, from time to time, in its sole discretion, adjust your salary, 

incentive compensation and benefits, as well as your job title, location, duties, responsibilities, assignments and reporting relationships.
		
	10.
	Start Date; Acceptance of Offer. We hope that you will accept this offer promptly and begin your full-time employment at Jazz Pharmaceuticals by March 16, 2020. If our offer is acceptable to you, please sign the enclosed copy of this letter in the space indicated and return it to me by February 24, 2020.

		
	11.
	Severability. If any provision of this offer is held to be invalid, void or unenforceable, the remainder of the agreement set forth herein will remain unaffected, and you and Jazz Pharmaceuticals will work together to achieve the intent of the affected provisions.

Renée, we are impressed by your accomplishments and potential, and we are enthusiastic at the prospect of you joining us. I look forward to your early acceptance of this offer, and to your contributions to the growth and success of Jazz Pharmaceuticals.
Sincerely,
Bruce Cozadd
Chairman & CEO

	
			
	ACCEPTANCE OF EMPLOYMENT OFFER:

	I accept the offer of employment by Jazz Pharmaceuticals on the terms set forth in this letter.

	Signature:
	/s/ Renée Galá
	RG

	Date:
	23-Feb-2020
	 

	My start date will be
	March 16, 2020Exhibit

Exhibit 10.2
Amendment to Finbar Larkin’s Terms and Conditions of Employment
This amendment (the “Amendment”) applies to the Terms and Conditions of Employment agreement between Finbar Larkin (the “Executive”) and Jazz Pharmaceuticals Ireland Limited which was signed by the Executive on 22 February 2013 (the “Employment Agreement”).  The Employment Agreement is amended as set forth herein.
		
	1.
	New Employment Terms Due to Promotion.  The below employment terms were amended effective 31 October 2019 in connection with Executive’s promotion to the role of SVP, Technical Operations on a non-interim basis.

		
	a.
	Position:  Clause 1 is amended to state Executive’s role of SVP, Technical Operations.

		
	b.
	Reporting Relationship:  Clause 5 is amended to state Executive’s reporting relationship to the President and Chief Operating Officer.

		
	c.
	Salary:  Clause 6.1 is amended to state Executive’s annual basic salary rate of €309,000.

		
	d.
	Bonus:  Clause 7.1 is amended to state that Executive’s eligibility for an annual bonus for 2020 will be governed by the terms and conditions of the Jazz Pharmaceuticals Cash Bonus Plan (Ireland and Other Specified Affiliates) (Calendar Year 2020).  Bonus eligibility for other calendar years will be governed by the terms and conditions of any approved bonus plan or program in effective during the relevant calendar year.  

		
	2.
	Change in Control Severance Benefits.  The attached Schedule 1, effective as of 11 February 2020, contains the terms and conditions of Executive’s eligibility for certain change in control severance benefits.  

		
	3.
	Miscellaneous.   This Amendment, including Schedule 1, sets forth all modifications to the Employment Agreement, and the other terms of the Employment Agreement remain in full force and effect.  This Amendment can only be modified in a written agreement signed by both parties.

Signed as follows:
	
					
	 
	 
	 
	 
	 

	/s/ Heidi Manna
	 
	/s/ Finbar Larkin

	Heidi Manna
Chief Human Resources Officer
Jazz Pharmaceuticals
	 
	Finbar Larkin

	 
	 
	 
	 
	 

	Date:
	23-Feb-2020   
	 
	Date:
	26-Feb-2020   

1.

SCHEDULE 1 
Change in Control Severance Benefits for Finbar Larkin
		
	1.
	Covered Termination: Finbar Larkin (the “Executive”) will be eligible for the severance benefits set forth in this Schedule 1 (the “Severance Benefits”) in the event of a Covered Termination which is effective on or within twelve (12) months following a Change in Control, subject to the requirements set forth in this Schedule 1.

		
	2.
	Severance Benefits: The Severance Benefits will consist of cash severance payment and payments for continued health care insurance coverage, as follows:

		
	a.
	Cash Severance Benefits: A lump sum cash severance payment will be paid to the Executive in a gross amount equal to the sum of the following three components (the “Severance Payment”): 

(1)  Executive’s annual basic salary in effect as of the effective date of the Executive’s Covered Termination (without giving effect to any reduction in base salary that would constitute grounds for Constructive Termination) (the “Severance Base”) multiplied by 150%; 
(2) The product of the Severance Base multiplied by the Bonus Percentage (defined below) multiplied by 150%; and 
(3) The product of the Severance Base multiplied by the Bonus Percentage multiplied by the Bonus Multiplier (defined below). 
Notwithstanding the foregoing, to the extent applicable, the Severance Payment shall be reduced by any amounts paid to Executive:  (i) during any period of garden leave immediately preceding the Covered Termination; (ii) qualifying as pay-in-lieu of notice; or (iii) any other severance benefits whether contractual or statutory (including but not limited to any statutory redundancy pay) or other similar benefits payable to the Executive in connection with the termination of Executive’s employment.
By way of example, if the effective date of the Covered Termination is 30 June, Executive’s annual basic salary in effect as of the Covered Termination is €300,000, and his target bonus is 45% of basic salary (and Executive has not received any higher annual bonus in either of the last two calendar years prior to the Covered Termination), the Severance Payment shall be calculated as follows:
		
	(1)
	€300,000 x 150% (1.5) = €450,000

		
	(2)
	€300.000 x bonus percentage (.45) x 150% (1.5) = €202,500

		
	(3)
	€300,000 x bonus percentage (.45) x 6/12 = €67,500

Total Gross Severance Payment: €450,000 + €202,500 + €67,500 = €720,000
		
	b.
	Health Continuation Coverage Benefits: To the extent that Executive elects continued private health insurance coverage following the Covered Termination at a level equivalent to the private health insurance coverage provided to Executive during his employment, the Employer shall pay the applicable premiums (inclusive of premiums for the Executive’s participating dependents, if any) for such plan coverage for a period of eighteen (18) months following the date of the Covered Termination (or such earlier date if the Executive dies, if Executive and/or his dependents are no longer eligible for coverage, or if Executive obtains new employment which includes eligibility for health plan coverage). The provision of these benefits is subject to commensurate health insurance coverage being 

2.

obtained on normal terms and subject to medical and other underwriting requirements and other terms and conditions. The Executive shall be required to notify the Employer immediately if the Executive becomes covered by a health insurance plan of a subsequent employer or if the Executive or his participating dependents otherwise cease to be eligible for coverage during the period provided above. Upon the conclusion of such period of insurance premium payments made by the Employer, the Executive will be responsible for the entire payment of premiums.
		
	3.
	Certain Definitions:

		
	a.
	“Affiliate” means any “parent” or “subsidiary” of Employer as such terms are defined in Rule 405 of the United States Securities Act of 1933, as amended.

		
	b.
	“Bonus Percentage” means the greater of (i) any annual bonus, expressed as a percentage of annual base salary paid in the year of determination, paid to the Executive by the Company or an Affiliate in respect of either of the last two calendar years prior to the date of a Covered Termination or (ii) the Executive’s target bonus, expressed as a percentage of annual base salary, for the calendar year in which the Covered Termination occurs.

		
	c.
	“Bonus Multiplier” means the quotient obtained by dividing the number of full months that the Executive is employed by the Company or an Affiliate in the calendar year of a Covered Termination by twelve (12).

		
	d.
	“Change in Control” means “Change in Control” as defined in the Jazz Pharmaceuticals plc Amended and Restated Executive Change in Control and Severance Benefit Plan.

		
	e.
	“Cause” means the occurrence of any one or more of the following:

		
	i.
	the Executive’s unauthorised use or disclosure of the confidential information or trade secrets of the Employer or its Affiliates which use or disclosure causes material harm to the Employer or an Affiliate;

		
	ii.
	the Executive’s material breach of any agreement between the Executive and the Employer or an Affiliate which remains uncured for ten (10) business days after receiving written notification of the breach from the Employer;

		
	iii.
	the Executive’s material failure to comply with the written policies or rules of the Employer or an Affiliate which remains uncured for ten (10) business days after receiving written notification of the breach from the Employer;

		
	iv.
	the Executive’s conviction of, or plea of guilty or no contest to, any crime involving fraud, dishonesty, or moral turpitude under the laws of any United States or Irish Federal, state, local, or foreign governmental authority;

		
	v.
	the Executive’s gross misconduct;

		
	vi.
	the Executive’s continuing failure to perform assigned duties after receiving written notification of the failure from the Employer;

		
	vii.
	the Executive’s failure to cooperate in good faith with a governmental or internal investigation of the Employer, its Affiliates, directors, officers, or employees, if the Employer has requested the Executive’s cooperation; or

		
	viii.
	any action of Executive warranting summary dismissal or termination without prior notice under Executive’s Terms and Conditions of Employment dated 22 February 2013, as amended, or such other employment agreement with the Employer as in effect on the Covered Termination (as applicable, the “Employment Agreement”) or under applicable employment laws.

3.

		
	f.
	“Constructive Termination” means a resignation of employment by Executive after an action or event which constitutes Good Reason is undertaken by Employer or an Affiliate, or otherwise occurs, provided such action or event is not agreed to by Executive in writing; provided, however, that in order for Executive’s resignation to constitute a Constructive Termination, Executive must (i) provide written notice to Employer’s General Counsel within thirty (30) days after the first occurrence of the event giving rise to Good Reason setting forth the basis for such resignation, (ii) allow Employer at least thirty (30) days from receipt of such written notice to cure such event, and (iii) if such event is not reasonably cured within such period, resign from all positions Executive then holds with Employer and any Affiliate effective not later than ninety (90) days after the expiration of the cure period.

		
	g.
	“Covered Termination” means either (i) an Involuntary Termination Without Cause, or (ii) a Constructive Termination. Termination of employment of Executive due to death or disability shall not constitute a Covered Termination unless a resignation of employment by Executive immediately prior to Executive’s death or disability would have qualified as a Constructive Termination.

		
	h.
	“Employer” means the corporate entity which employed Executive as of the effective date of the Covered Termination (including any predecessor or successor entity).

		
	i.
	“Executive” means Finbar Larkin.

		
	j.
	“Good Reason” means the occurrence of any one or more of the following actions or events without Executive’s written consent:

		
	i.
	a reduction in Executive’s base salary by more than ten percent (10%) (other than a reduction in conjunction with (x) a Company-wide salary reduction, or (y) a salary reduction involving senior management of Employer which results in salary reductions for employees similarly-situated to Executive);

		
	ii.
	a relocation of Executive’s place of employment that increases Executive’s one-way commute by more than thirty-five (35) miles;

		
	iii.
	a substantial reduction in Executive’s duties or responsibilities (and not simply a change in reporting relationships) in effect immediately prior to the effective date of the Change in Control; provided, however, that it shall not constitute “Good Reason” if, following the effective date of the Change in Control, either (x) Employer is retained as a separate legal entity or business unit and Executive holds the same position in such legal entity or business unit as Executive held before such effective date, (y) Executive holds a position with duties and responsibilities comparable (although not necessarily identical, in view of the relative sizes of Employer and the entity involved in the Change in Control) to the duties and responsibilities of Executive prior to the effective date of the Change in Control; or

		
	iv.
	a reduction in the Executive’s title.

		
	k.
	“Involuntary Termination Without Cause” means a termination by the Employer of the Executive’s employment relationship with the Employer or an Affiliate for any reason other than for Cause and other than as a result of death or disability.

		
	4.
	Additional Terms for Severance Benefits: The following additional terms shall apply:

		
	a.
	Release: In order to be eligible to receive, and prior to receipt of, any of the Severance Benefits, the Executive must execute a general waiver and release and return such release to Employer within the time period specified therein, but in no event more than forty-five (45) days following the date of the Covered Termination, and such release must become effective in accordance with its terms but in all cases 

4.

not later than the sixtieth (60th) day following the Covered Termination. No release shall require the Executive to forego any unpaid salary, any accrued but unpaid vacation pay, or any vested or earned benefits payable pursuant to the Executive’s Employment Agreement or by law. The Employer, in its sole discretion, may modify the form of the required release to comply with applicable law and shall determine the form of the required release.
		
	b.
	Mitigation: The Executive shall not be required to mitigate damages as a condition of the Severance Benefits by seeking other employment or otherwise. Similarly, no amount of the Severance Benefits shall be reduced by any compensation earned by the Executive as a result of employment by another employer or any retirement benefits received by such Executive after the date of the Executive’s termination of employment with the Employer, except for Severance Benefits relating to payments for health continuation coverage provided above.

		
	c.
	Tax Withholding, Contributions: All payments under this Schedule will be subject to all applicable deductions and withholdings of tax, PRSI, Universal Social Charge, and any other deductions which are required pursuant to the terms of the Executive’s employment or by law, or which are provided for in the Executive’s Employment Agreement and/or this Schedule.

5.

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