SEC Contract Filing

Filing Date: 2017-11-14

Document Content:
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<TYPE>EX-10.7
<SEQUENCE>8
<FILENAME>orex-ex107_129.htm
<DESCRIPTION>EX-10.7
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:right;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-weight:bold;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 10.7</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-align:center;text-indent:0%;font-size:12pt;font-weight:bold;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">OREXIGEN THERAPEUTICS, INC.</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-align:center;text-indent:0%;font-size:12pt;text-transform:uppercase;font-weight:bold;font-family:Times New Roman;font-style:normal;font-variant: normal;">Amendment No. 3 to Employment Agreement</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-align:center;text-indent:0%;font-size:12pt;text-transform:uppercase;font-weight:bold;font-family:Times New Roman;font-style:normal;font-variant: normal;">October 13, 2017</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Reference is made to the <font style="font-weight:bold;font-variant: small-caps;">Employment Agreement</font> (the &#8220;<font style="font-weight:bold;">Agreement</font>&#8221;) dated February 3, 2015 by and between <font style="font-weight:bold;font-variant: small-caps;">Orexigen Therapeutics, Inc.</font> (&#8220;<font style="font-weight:bold;">Orexigen</font>&#8221; or the &#8220;<font style="font-weight:bold;">Company</font>&#8221;) with its principal place of business located at 3344 N. Torrey Pines Ct., Suite 200, La Jolla, CA 92037 and <font style="font-weight:bold;font-variant: small-caps;">Jason Keyes</font> (&#8220;<font style="font-weight:bold;">Executive</font>&#8221;), and <font style="font-weight:bold;font-variant: small-caps;">Amendment No. 2 to the Employment Agreement </font>dated June 16, 2016 (the &#8220;<font style="font-weight:bold;">Second Amendment</font>&#8221;).&nbsp;&nbsp;All capitalized terms used herein and not otherwise defined shall have the meanings assigned to such terms in the Agreement.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:7.69%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:7.69%;font-weight:bold;font-variant: small-caps;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;">Whereas<font style="font-weight:normal;font-variant: normal;">, the parties desire to supersede and replace in full the Second Amendment, and to amend certain terms of the Agreement in accordance with the terms hereof (this &#8220;</font><font style="font-variant: normal;">Third Amendment</font><font style="font-weight:normal;font-variant: normal;">&#8221;).</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:7.69%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:7.69%;font-weight:bold;font-variant: small-caps;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;">Now therefore<font style="font-weight:normal;font-variant: normal;">, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by the parties, the parties hereto, intending to be legally bound, agree to amend the Agreement as follows:</font></p>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.</font></p></td>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">Article II, Section 2.1 of the Agreement shall be amended and restated in its entirety as follows:</p></td></tr></table></div>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:15.38%;margin-right:7.69%;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:12pt;margin-top:0pt;margin-left:15.38%;margin-right:7.69%;text-indent:0%;font-weight:bold;text-transform:none;font-size:12pt;font-family:Times New Roman;font-style:normal;font-variant: normal;">Position and Duties. <font style="font-weight:normal;"> Subject to terms set forth herein, the Company agrees to employ Executive on a full time basis in the position of Executive Vice President, Chief Financial Officer, and Executive hereby accepts such employment.&nbsp;&nbsp;Executive shall perform such duties as are customarily associated with the position of Executive Vice President, Chief Financial Officer, and such other duties as are assigned to Executive by the Chief Executive Officer of the Company.&nbsp;&nbsp;Subject to the terms of this Agreement, the Company may change Executive&#8217;s duties, responsibilities, title, and reporting relationship at its discretion.&nbsp;&nbsp;During the term of Executiv