SEC Contract Filing

Filing Date: 2020-01-10

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>7
<FILENAME>tm201618d1_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.2</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>EXECUTIVE EMPLOYMENT AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">THIS EXECUTIVE EMPLOYMENT
AGREEMENT (this &ldquo;<U>Agreement</U>&rdquo;) is entered into by and between ArTara Therapeutics, Inc. (the &ldquo;<U>Company</U>&rdquo;),
and Jesse Shefferman (&ldquo;<U>Executive</U>&rdquo;) (collectively referred to as the &ldquo;<U>Parties</U>&rdquo; or individually
referred to as a &ldquo;<U>Party</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>R E C I T A L S</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Company,
Proteon Therapeutics, Inc., and REM 1 Acquisition, Inc. have entered into that certain Agreement and Plan of Merger and Reorganization
(as amended, modified, or supplemented from time to time in accordance with its terms, the &ldquo;<U>Merger Agreement</U>&rdquo;).
The effective date of this Agreement will be the date upon which the Parties fully execute this Agreement (the &ldquo;<U>Effective
Date</U>&rdquo;). If the anticipated transactions contemplated in the Merger Agreement are not consummated, then this Agreement
will have no effect, will not be binding on the Company (or any of its affiliates) or on Executive, shall terminate as of the termination
of the Merger Agreement, and neither Executive nor the Company (or any of its affiliates) shall have rights or obligations hereunder;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, subject to
the foregoing, the Company desires to employ Executive as its Chief Executive Officer, and to enter into an agreement embodying
the terms of such employment; the Company desires for Executive to serve as a member of its Board of Directors during the Employment
Term; and Executive desires to accept such employment and enter into such an agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>A G R E E M E N T</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW, THEREFORE, in
consideration of the premises and mutual covenants herein and for other good and valuable consideration, the Parties agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Duties
and Scope of Employment</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a) <U>Positions and
Duties</U>. As of the Effective Date, Executive will serve as Chief Executive Officer of the Company. Executive will render such
business and professional services in the performance of Executive&rsquo;s duties, consistent with Executive's position within
the Company, as shall reasonably be assigned to Executive by the Company&rsquo;s Board of Directors (the &ldquo;<U>Board</U>&rdquo;).
The period of Executive&rsquo;s at-will employment under the terms of this Agreement is referred to herein as the &ldquo;<U>Employment
Term</U>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b) <U>Board Membership</U>.
During the Employment Term, Executive will serve as a member of the Board, subject to any required Board and/or stockholder approval.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c) <U>Obligations</U>.
During the Employment Term, Executive will perform Executive&rsquo;s duties faithfully and to the best of Executive&rsquo;s ability
and will devote Executive&rsquo;s full business efforts and time to the Company. For the duration of the Employment Term, Executive
agrees not to actively engage in any other employment, occupation or consulting activity for any direct or indirect remuneration
without the prior approval of the Company&rsquo;s Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <U>At-Will Employment</U>. Subject to Sections 7, 8, and 9 below, the parties agree that Executive's employment with the Company will be &ldquo;at-will&rdquo;
employment and may be terminated at any time with or without cause or notice, for any reason or no reason. Executive understands
and agrees that neither Executive&rsquo;s job performance nor promotions, c