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AMENDMENT NO 2 TO EMPLOYMENT
AGREEMENT
This Amendment
No. 2 (“Amendment”) is made as of
September 10, 2009 to the Employment Agreement
(“Agreement”) dated as of the 12th day of
December 2007, as amended October 7, 2008, between
Alkermes, Inc., a Pennsylvania corporation (the
“Company”), and Richard F. Pops
(“Executive”).
WHEREAS, the
Company and Executive have entered into the Agreement and now wish
to amend certain terms of the Agreement pursuant to this Amendment
(capitalized terms used but not defined herein shall have the
meaning set forth in the Agreement);
NOW, THEREFORE, in
consideration of the mutual covenants and agreements herein
contained and other good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, the parties agree
as follows:
1. Section 1
of the Agreement shall be deleted in its entirety and replaced with
a new Section 1 which shall read as follows: “The term of
this Agreement shall extend from December 12, 2007 (the
“Commencement Date”) until this Agreement is earlier
terminated by either the Executive or the Company pursuant to
Paragraph 4. The term of this Agreement may be referred to
herein as the “Period of Employment.””
2. Section 2
of the Agreement shall be deleted in its entirety and replaced with
a new Section 2 which shall read as follows: “Commencing
September 10, 2009, Executive shall serve as the Chief
Executive Officer, President and Chairman of the Board of Directors
of the Company, and shall have supervision and control over and
responsibility for the day-to-day business and affairs of the
Company, be responsible for oversight of strategic issues affecting
the Company and maintaining key relationships in the industry and
shall have such other powers and duties as may from time to time be
prescribed by the Board of Directors of the Company (the
“Board”), provided that such duties are consistent with
Executive’s position or other positions that he may hold from
time to time.”
3. Section 3(a)
of the Agreement shall be deleted in its entirety and replaced with
a new Section 3(a) which shall read as follows:
“Durin
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