Exhibit 10.2
CONSULTING
AGREEMENT
This Consulting Agreement (herein
referred to as “ Agreement ”) is made and
entered into as of this 1st day of July, 2009 (the “
Effective Date ”), by and between BioMarin
Pharmaceutical Inc. (herein referred to as “ BioMarin
”) a Delaware corporation with offices at 105 Digital Drive,
Novato, CA 94949, and Dr. Emil Kakkis having a place of
business at __ Digital Drive, Novato, CA 94949 (“
Consultant ”), each herein referred to as “
Party ” and collectively as “ Parties
”.
RECITALS
WHEREAS, Consultant is an the
Company’s former Chief Medical Officer, and as such, has
certain extensive specialized knowledge about the Company’s
various programs; and
WHEREAS, BioMarin desires to employ
Consultant to provide certain consultation services, as requested
by BioMarin, in connection with various issues that may arise
related to those programs, and Consultant wishes to provide such
services to BioMarin, upon the terms and conditions set forth
below.
NOW, THEREFORE, in consideration of
the premises and mutual covenants contained herein, the Parties
agree as follows:
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1.
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Consulting
Arrangement . Consultant
agrees to perform consulting services as described herein upon the
terms and conditions herein set forth.
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2.
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Term of
Agreement . This
Agreement shall commence as of the Effective Date and shall
continue through March 31, 2010 (the “ Term
”), subject to the provision for early termination set forth
below in Section 7 of this Agreement. Either Party may
terminate this Agreement without cause on three (3) months
advanced notice written notice.
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3.
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Duties of
Consultant .
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3.1
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Specific
Duties . Consultant shall
provide general scientific and strategy consulting and advising
regarding the Company’s various programs on an as needed
basis, with such specific requirements as BioMarin may specify from
time to time during the Term (hereinafter referred to as “
Services ”). The Parties agree that: (1) the
total commitment is expected to be no more than ten (10) hours
per week, on average; (2) any travel shall be mutually agreed
between Consultant and the Company; and (3) Consultant will
not be required to provide consulting related to any in-licensing
or other business development opportunities.
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3.2
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Consultant
Obligations . Consultant
shall be diligent in the performance of the Services, and be
professional in its commitment to meeting its obligations
hereunder. Consultant represents and warrants that it is not a
party to any other existing agreement which would prevent
Consultant from entering into this Agreement or which would
adversely affect this Agreement. Consultant will not perform
services for any party which would require or facilitate the
unauthorized disclosure of any confidential or proprietary
information of BioMarin.
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3.3
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Reporting . Consultant will report to and liaise with
Dr. Henry Fuchs and/or any other assigned BioMarin employee as
may be designated in writing by BioMarin.
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4.
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Compensation . BioMarin shall pay Consultant a fee of Forty
Thousand Dollars ($40,000) payable in advance within ten
(10) days after the start of any quarter. Such amount shall be
prorated for any partial quarter. Additionally, on the Effective
Date, Company shall grant Consultant options for the purchase of
fifty thousand (50,000) shares of the Company’s Common
Stock pursuant to the Company’s 2006 Equity Compensation
Plan. Such options shall vest in full on the termination of this
Agreement, unless the agreement is terminated by Consultant for
convenience or by the Company due to Consultant’s breach of
this agreement. Consultant shall submit a summary of the Services
provided each month within thirty (30) days after the end of
such month, which will detail time spent by Consultant in
performing services in minimum increments of one hour and be
addressed and sent to Accounts Payable, BioMarin Pharmaceutical
Inc., 105 Digital Drive, Novato, CA 94949.
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5.
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Working
Facilities and Other Overhead Items . Consultant shall provide the facilities and
equipment necessary to perform the Services required under this
Agreement.
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6.
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Reimbursement of Other Expenses
. So long as BioMarin’s prior
written approval has been obtained, BioMarin shall promptly
reimburse Consultant for all other expenses incurred in providing
the Services for BioMarin pursuant to this Agreement. The summary
of Services submitted by Consultant pursuant to
Section 4 above shall include a detail of all
reimbursable expenses incurred during the period covered by such
summary.
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7.
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Termination
of Agreement - Failure to perform . In the event that Consultant ceases to perform
the Services or breaches its obligations as required hereunder for
any reason, BioMarin shall have the right to immediately terminate
this Agreement upon notice to Consultant and to enforce such other
rights and remedies as it may have as a result of said
breach.
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8.
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Certain
Liabilities . It is
understood and agreed that Consultant shall be acting as an
independent contractor and not as an agent or employee of, or
partner, joint venturer or in any other relationship with,
BioMarin. Consultant will be solely responsible for all
self-employment taxes, FICA taxes and all obligations to
governments or other organizations arising out of this consulting
assignment and Consultant acknowledges that no income, social
security or other taxes shall be withheld or accrued by BioMarin
for Consultant’s benefit. Consultant assumes all risks and
hazards encountered in the performance of his duties under this
Agreement. Unless BioMarin has provided prior written approval,
Consultant shall not use any contractors to perform
Consultant’s obligations hereunder. Consultant shall be
solely responsible for any and all injuries, including death, to
all persons and any and all loss or damage to property, which may
result from its performance under this Agreement.
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9.
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Indemnities . Consultant hereby agrees to defend, indemnify
and hold BioMarin harmless from and against all, claims (whether
asserted by a person, firm, entity or governmental unit or
otherwise), liabilities, losses, damages, expenses, charges and
fees which BioMarin
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