FIRST AMENDMENT TO EMPLOYEE AGREEMENT CONCERNING INVENTION ASSIGNMENT, NON-DISCLOSURE AND NON-COMPETITIONInvention Assignment Agreement |
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Exhibit 10.2
FIRST AMENDMENT TO
EMPLOYEE AGREEMENT CONCERNING
INVENTION ASSIGNMENT, NON-DISCLOSURE
AND NON-COMPETITION
FIRST AMENDMENT TO EMPLOYEE AGREEMENT CONCERNING INVENTION ASSIGNMENT, NON- DISCLOSURE AND NON-COMPETITION, dated as of March 17, 2008, between NPS PHARMACEUTICALS, INC., a Delaware corporation (the "Company"), and FRANCOIS NADER (the "Employee").
Recitals
A. The Employee has been an "employee at will" and Chief Operating Officer of the Company and, as of the date hereof, is entering into an Employment Agreement, dated as of the date hereof (the "Employment Agreement"), with the Company pursuant to which the Employee shall be the Chief Executive Officer and President of the Company pursuant to the terms thereof.
B. The Employee and the Company are party to an Employee Agreement Concerning Invention Assignment, Non-Disclosure And Non-Competition, effective as of June 5, 2006 (the "Restrictive Covenants Agreement"), which Restrictive Covenant Agreement was executed and delivered at such time as the Company's principal place of business was in the State of Utah and the Employee was the Chief Operating Officer of the Company.
C. The parties hereto desire to amend the Restrictive Covenants Agreement to reflect the change of location of the Company's principal place of business and the promotion of the Employee to Chief Executive Officer and President of the Company.
NOW, THEREFORE, the Company and the Executive, in consideration of the mutual promises contained herein, hereby agree that the Restrictive Covenants Agreement is hereby amended as follows:
- Non-Competition. Paragraph 8.0.1.3 of the Restrictive Covenants Agreement is hereby deleted in its entirety and the following substituted in lieu thereof:
"Employee hereby agrees that for a period of 24 months after Employee ceases employment with the Company for any reason, without the prior writte






