Document:

Exhibit 10.2

Exhibit
10.2

LETTER AGREEMENT

Matthew R. Patterson

Re: Severance and Change in Control Agreements

Dear Matt:

On behalf of Amicus Therapeutics, Inc., (the “Company”), this Letter Agreement, dated as of April
18, 2011, shall serve to confirm our agreement regarding your eligibility for severance benefits in
the event of a cessation of your employment in certain circumstances. By accepting the terms of
this Letter Agreement, you agree that the rights identified in this Letter Agreement contain the
complete understanding between you and the Company related to Severance and Change in Control
payments, supersede and replace all previous agreements related to such payments (including,
without limitation, letter agreements between you and the Company dated November 9, 2004, November
9, 2007 and December 31, 2008) and are in lieu of, not in addition to, rights under any other
severance or change in control plan or arrangement maintained by the Company or its affiliates.

Severance Pay

In the event that your employment is terminated by the Company without “Cause,” or you resign for
“Good Reason” as defined below, you will be eligible to receive the following:

	 	1.	 	twelve (12) months salary continuation to be paid in accordance with the
Company’s payroll practices;

	 	2.	 	an additional twelve (12) months of stock option vesting;

	 	3.	 	in the event that your termination occurs after June 30th of the
calendar year, you will be entitled to a payment of a bonus equal to the bonus earned
in the preceding year pro-rated for the number of months actually worked in the year of
your termination or resignation for Good Reason, payable on the date of termination or
resignation;

 

 

 

	 	4.	 	you will be entitled to a continuation of your health benefit coverage under
COBRA, premiums to be paid by the Company, for a period of twelve (12) months, which
shall commence on the date of termination and run concurrently with the period of
salary continuation; and

	 	5.	 	restricted stock granted to you pursuant to a Restricted Stock Award Agreement
between you and the Company shall fully vest.

For purposes of this Agreement, “Cause” means termination for any of the following reasons: (1)
willful or deliberate misconduct by you that materially damages the Company; (2) misappropriation
of Company assets; (3) conviction of, or a plea of guilty or “no contest” to, a felony; or (4) any
willful disobedience of the lawful and unambiguous instructions of Chairman of the Board of
Directors of the Company (the “Chairman”); provided that Chairman has given you written notice of
such disobedience or neglect and you have failed to cure such disobedience or neglect within a
period reasonable under the circumstances. For avoidance of doubt, a cessation of your employment
due to your death or a condition entitling you to disability benefits under the Social Security Act
or under any Company funded disability plan, program or policy will not constitute a “termination
without Cause.”

“Good Reason” for purposes of this section means a material diminution in your authorities, duties,
or responsibilities; provided, however, that you must provide the Company with notice of
the existence of the Good Reason condition within ninety (90) days of its initial existence after
which the Company will have a period of thirty (30) day within which it may remedy the condition
and not be required to pay the severance payment; and provided, further, that any Good Reason
termination must occur within two (2) years of the initial existence of the Good Reason condition.
For avoidance of doubt, the appointment of a person other than you as a permanent replacement to
the office of Chief Executive Officer of the Company shall constitute “Good Reason” for purposes of
this Agreement.

Change in Control

If there is a Change in Control Event and either (i) you are terminated without Cause within twelve
months of such Change in Control Event or (ii) a condition occurs which constitutes Good Reason
within twelve months of such Change in Control Event and after you have complied with the
applicable notice period and the Company has failed to remedy such condition, you actually resign,
then:

	 	1.	 	you will be entitled to receive eighteen (18) months of salary
continuation, to be paid in accordance with the Company’s payroll practices;

	 	2.	 	in the event that termination without Cause or the resignation
for Good Reason following a change in control event occurs after June
30th of the calendar year, you will be entitled to a payment of a
bonus equal to the bonus earned in the preceding year pro-rated for the
number of months
actually worked in the year of your termination or resignation for Good Reason,
payable on the date of termination or resignation;

 

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	 	3.	 	you will be entitled to continuation of your health benefit
coverage under COBRA, premiums to be paid by the Company, for a period of
eighteen (18) months, which shall commence on the date of resignation or
termination and run concurrently with the period of salary continuation;

	 	4.	 	all otherwise unvested stock options will become fully vested;
and

	 	5.	 	All otherwise unvested restricted stock granted to you pursuant
to a restricted stock award agreement between you and the Company shall fully
vest.

“Change in Control Event” means any of the following: (i) any person or entity (except for a
current stockholder who was a stockholder prior to the Company’s initial public offering) becomes
the beneficial owner of greater than 50% of the then outstanding voting power of the Company; (ii)
a merger or consolidation with another entity where the voting securities of the Company
outstanding immediately before the transaction constitute less than a majority of the voting power
of the voting securities of the Company or the surviving entity outstanding immediately after the
transaction, or (iii) the sales or disposition of all or substantially all of the Company’s assets.

“Good Reason” for purposes of this section means (i) a material diminution in your authorities,
duties, or responsibilities, or (ii) a material change in the geographic location at which you must
perform services; provided, however, that you must provide the Company with notice of the
existence of the Good Reason condition within ninety (90) days of its initial existence after which
the Company will have a period of thirty (30) day within which it may remedy the condition and not
be required to pay the severance payment; and provided, further, that any Good Reason termination
must occur within two (2) years of the initial existence of the Good Reason condition.

General

Your right to receive any payment or benefit pursuant to this letter agreement shall be subject to
the condition that, within 45 days following your termination of employment, you execute and
deliver to the Company a full release and waiver of all claims against the Company and related
parties, in a form acceptable to the Company. Any payment or benefit that would otherwise be paid
or provided during the 60 day period following your termination of employment will instead be
delayed and will be paid or provided on the 60th day following such termination,
provided the above-described release has by then become irrevocable. If the release has not by
then become irrevocable, you will forfeit all payments and benefits otherwise due hereunder.

It is the intention of the parties that compensation paid or delivered to you by the Company either
is paid in compliance with, or is exempt from, Section 409A of the Internal Revenue Code of 1986,
as amended and the rules and regulations promulgated thereunder
(collectively, “Section 409A”).
However, the Company does not warrant to you that all compensation paid or delivered to you for

 

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your
services will be exempt from, or paid in compliance with, Section 409A. Notwithstanding any other provisions of this Agreement, in the event that any payment or
benefit under this Agreement received or to be received by you (the “Payment”) is
determined to be subject (in whole or part) to the penalties imposed by Section 409A of the Code
(the “Additional Taxes”), then you shall be entitled to receive an additional payment (a “Gross-Up
Payment”) in an amount such that after payment by you of the Additional Taxes, you retain an amount
equal to the Payment net of any applicable taxes and withholdings other than Additional Taxes. All
determinations required to be made under this provision, including whether and when a Gross-Up
Payment is required, the amount of such Gross-Up Payment and the assumptions to be utilized in
arriving at such determination, shall be made by the Company’s accountants or such other certified
public accounting firm designated by you and reasonably acceptable to the Company. Any certified
public accounting firm chosen by you shall provide detailed supporting calculations both to the
Company and you. Any Gross-Up Payment due under this paragraph shall be paid to you no later than
December 31 of the calendar year following the calendar year in which you remit the Additional
Taxes to the applicable authorities.

For the purposes of determining when amounts otherwise payable on account of your termination of
employment will be paid, which amounts become due because of your termination of employment,
“termination of employment” or words of similar import shall be construed as the date that you
first incur a “separation from service” for purposes of Section 409A. Furthermore, if you are a
“specified employee” of a public company as determined pursuant to Section 409A as of your
termination of employment, any amounts payable on account of your termination of employment which
constitute deferred compensation within the meaning of Section 409A and which are otherwise payable
during the first six months following your termination (or prior to your death after termination)
shall, to the extent necessary to avoid the imposition of additional taxes under Section 409A, be
paid to you in a cash lump-sum on the earlier of (1) the date of your death and (2) the first
business day of the seventh calendar month immediately following the month in which your
termination occurs.

In applying Section 409A to amounts paid pursuant to this letter, any right to a series of
installment payments shall be treated as a right to a series of separate payments.

Employment “At-Will”

It is important that you understand that the Company does not guarantee employment for any specific
period of time. You will continue to be employed on at “at-will” basis. This means that both the
Company and you will have the right to terminate your employment at any time, for any reason, with
or without prior notice or cause. Neither you nor the Company will have an express or implied
contract limiting your right to resign or the Company’s right to terminate your employment at any
time, for any reason, with or without prior notice or cause. The “at-will” relationship will apply
to you throughout your employment and cannot be changed except by an express individual written
employment agreement signed by you and the Chairman.

It is understood and agreed that this Letter Agreement constitutes the full agreement between you
and the Company on the subjects of Severance and Change in Control payments. By signing below, you
agree that no other promises, express or implied, have been made to you either
verbally or in writing and that no further modifications to these terms and conditions will be
effective except by a written agreement signed by the Chairman and you and as authorized by the
Company’s Board of Directors or an authorized Committee thereof. This Letter Agreement may be
executed in counterparts, each of which shall be deemed an original but all of which shall together
constitute on and the same agreement.

[Signature Page Follows]

 

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	 	Amicus Therapeutics, Inc.

 	 
	 	By:  	/s/ John F. Crowley
 	 
	 	 	John F. Crowley 	 
	 	 	Executive Chairman 	 

	 	 	 	 	 
	Accepted and Agreed:

 	 	 
	By:  	/s/ Matthew R. Patterson
 	 	 
	 	Matthew R. Patterson 	 	 

 

5Exhibit 10.3

Exhibit
10.3

RESTRICTED STOCK AWARD AGREEMENT

UNDER THE

AMENDED AND RESTATED 2007 EQUITY INCENTIVE PLAN

THIS RESTRICTED STOCK AWARD AGREEMENT (this “Agreement”) is made by and between Amicus
Therapeutics, Inc. (the “Company”) and Matthew R. Patterson (the “Participant”) as
of this 18th day of April, 2011 (the “Effective Date”).

WHEREAS, the Company maintains the Amended and Restated 2007 Equity Incentive Plan (the
“Plan”) for the benefit of its employees, directors and consultants; and

WHEREAS, the Plan permits the grant of Restricted Stock; and

WHEREAS, in order to compensate the Participant for his service to the Company including his
increased responsibilities as Interim Chief Executive Officer, and to further align the
Participant’s financial interests with those of the Company’s stockholders, the Board approved this
Award of Restricted Stock subject to the restrictions and on the terms and conditions contained in
the Plan and this Agreement.

NOW, THEREFORE, in consideration of these premises and the agreements set forth herein, the
parties, intending to be legally bound hereby, agree as follows:

1. Award of Restricted Shares. The Company hereby awards the Participant fifty
thousand (50,000) shares of Restricted Stock, subject to the restrictions and on the terms and
conditions set forth in this Agreement (the “Restricted Shares”). The terms of the Plan
are hereby incorporated into this Agreement by this reference, as though fully set forth herein.
Except as otherwise provided herein, capitalized terms herein will have the same meaning as defined
in the Plan.

2. Vesting of Restricted Shares. The Restricted Shares are subject to forfeiture to
the Company until they become vested in accordance with this Section 2. While subject to
forfeiture, the Restricted Shares may not be sold, pledged, assigned, otherwise encumbered or
transferred in any manner, whether voluntarily or involuntarily by the operation of law.

(a) Provided the Participant remains in continuous service with the Company through the
applicable vesting date, the Restricted Shares will become fully vested upon the earliest of: (i)
October 18, 2012, (ii) two business days following the announcement of preliminary results from the
Company’s ongoing Phase 3 study of Amigal in Fabry disease (AT1001-011), or (iii) subject to
Section 2(b), the date on which the Participant’s employment with the Company ceases due to a
termination by the Company without “Cause” or a resignation by the Participant with “Good Reason.”
For purposes of this Agreement, “Cause” and “Good Reason” will have the meanings
defined in that certain letter agreement between the Participant and the Company dated April 18,
2011 (the “Severance Agreement”).

(b) Vesting of the Restricted Shares pursuant to Section 2(a)(iii) is subject to the
Participant’s compliance with the release requirements described in the Severance Agreement.
Accordingly, for purposes of applying Section 3 to that case, the Restricted Shares will be not be
deemed vested until those release requirements are satisfied in full. If the Participant fails to
satisfy those release requirements in full (e.g., does not timely execute and deliver the requisite
release, revokes the release, etc.), the Restricted Shares will be automatically and immediately
forfeited and the Participant will have no further rights with respect to those shares.

 

 

(c) Upon cessation of the Participant’s employment for any reason other than a termination
without Cause or a resignation with Good Reason, any Restricted Shares which then remain
forfeitable will immediately and automatically, without any action on the part of the Company, be
forfeited, and the Participant will have no further rights with respect to those shares.

3. Issuance of Shares.

(a) The Company will cause the Restricted Shares to be issued in the Participant’s name by
issuance of a stock certificate or certificates.

(b) While the Restricted Shares remain forfeitable, the Company will cause an appropriate
stop-transfer order to be issued and to remain in effect with respect to the Restricted Shares. As
soon as practicable following the time that the Restricted Shares become vested (and provided that
appropriate arrangements have been made with the Company for the withholding or payment of any
taxes that may be due with respect to such share), the Company will cause that stop-transfer order
to be removed. The Company may also condition delivery of certificates for Restricted Shares upon
receipt from the Participant of any undertakings that it may determine are appropriate to
facilitate compliance with federal and state securities laws.

(c) The certificate issued in respect of the Restricted Shares will be legended and held in
escrow by the Company’s secretary or his or her designee. In addition, the Participant may be
required to execute and deliver to the Company a stock power with respect to those Restricted
Shares. At such time as those Restricted Shares become vested, the Company will cause a new
certificate to be issued without that portion of the legend referencing the previously applicable
forfeiture conditions and will cause that new certificate to be delivered to the Participant
(again, provided that appropriate arrangements have been made with the Company for the withholding
or payment of any taxes that may be due with respect to such shares).

4. Substitute Property. If, while any of the Restricted Shares remain subject to
forfeiture, there occurs a merger, reclassification, recapitalization, stock split, stock dividend
or other similar event or transaction resulting in new, substituted or additional securities being
issued or delivered to the Participant by reason of the Participant’s ownership of the Restricted
Shares, such securities will constitute “Restricted Shares” for all purposes of this
Agreement and any certificate issued to evidence such securities will immediately be deposited with
the secretary of the Company (or his or her designee) and subject to the escrow described in
Section 3, above.

5. Rights of Participant During Restricted Period. The Participant will have the
right to vote the Restricted Shares and to receive dividends and distributions with respect to the
Restricted Shares; provided, however, that any cash dividends or distributions paid in respect of
the Restricted Shares while those shares remain subject to forfeiture will be placed in escrow with
the secretary of the Company (or his or her designee) and will be delivered to the Participant
(without interest) only if and when the Restricted Shares giving rise to such dividends or
distributions become vested.

6. Securities Laws. The Board may from time to time impose any conditions on the
Restricted Shares as it deems necessary or advisable to ensure that the Restricted Shares are
issued and sold in compliance with the requirements of any stock exchange or quotation system upon
which the shares are then listed or quoted, the Securities Act of 1933 and all other applicable
laws.

 

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7. Tax Consequences.

(a) The Participant acknowledges that the Company has not advised the Participant regarding
the Participant’s income tax liability in connection with the grant or vesting of the Restricted
Shares. The Participant has had the opportunity to review with his or her own tax advisors
the federal, state and local tax consequences of the transactions contemplated by this Agreement.
The Participant is relying solely on such advisors and not on any statements or representations of
the Company or any of its agents. The Participant understands that the Participant (and not the
Company) shall be responsible for the Participant’s own tax liability that may arise as a result of
the transactions contemplated by this Agreement.

(b) If the Participant makes an election under Section 83(b) of the Code with respect to the
grant of the Restricted Shares, the Participant agrees to notify the Company in writing on the day
of such election. The amount includible in the Participant’s income as a result of that election
will be subject to tax withholding. The Participant will be required to remit to the Company in
cash, or make other arrangements reasonably satisfactory to the Company for the satisfaction of
such tax withholding amount; failure to do so within three business days of making the Section
83(b) election will result in forfeiture of all the Restricted Shares.

8. The Plan. This Restricted Stock Award is subject to, and the Participant agrees to
be bound by, all of the terms and conditions of the Plan, a copy of which has been provided to the
Participant. Pursuant to the Plan, the Committee is authorized to adopt rules and regulations not
inconsistent with the Plan as it shall deem appropriate and proper. All questions of
interpretation and application of the Plan shall be determined by the Committee and any such
determination shall be final, binding and conclusive.

9. Consent to Electronic Delivery. The Participant hereby authorizes the Company to
deliver electronically any prospectuses or other documentation related to this Agreement, the Plan
and any other compensation or benefit plan or arrangement in effect from time to time (including,
without limitation, reports, proxy statements or other documents that are required to be delivered
to participants in such plans or arrangements pursuant to federal or state laws, rules or
regulations). For this purpose, electronic delivery will include, without limitation, delivery by
means of e-mail or e-mail notification that such documentation is available on the Company’s
intranet site. Upon written request, the Company will provide to the Participant a paper copy of
any document also delivered to the Participant electronically. The authorization described in this
paragraph may be revoked by the Participant at any time by written notice to the Company.

10. Entire Agreement. This Agreement, together with the Plan, represents the entire
agreement between the parties hereto relating to the subject matter hereof, and merges and
supersedes all prior and contemporaneous discussions, agreements and understandings of every
nature.

11. Governing Law. This Agreement will be construed in accordance with the laws of
the State of New Jersey, without regard to the application of the principles of conflicts of laws.

12. Amendment. Subject to the provisions of the Plan, this Agreement may only be
amended by a writing signed by each of the parties hereto.

13. Execution. This Agreement may be executed, including execution by facsimile
signature, in one or more counterparts, each of which will be deemed an original, and all of which
together shall be deemed to be one and the same instrument.

[signature page follows]

 

-3-

 

IN WITNESS WHEREOF, the Company’s duly authorized representative and the Participant have each
executed this Restricted Stock Award Agreement on the respective date below indicated.

	 	 	 	 	 
	 	AMICUS THERAPEUTICS, INC.

 	 
	 	By:  	/s/ John F. Crowley
 	 
	 	 	Name:  	John F. Crowley 	 
	 	 	Title:  
Date:	Executive Chairman

April 18, 2011	 
	 
	 	MATTHEW R. PATTERSON

 	 
	 	Signature: 
 	/s/ Matthew R. Patterson	 
	 	Date: April 18, 2011

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