Common use of Employment and Duties of Employee Clause in Contracts

Employment and Duties of Employee. (a) Employer hereby employs Employee to serve Employer in the capacity of Vice President, Finance, reporting to Employer’s Executive Vice President and Chief Financial Officer (CFO). Employer shall have the power to determine the precise duties of Employee as they may change over time and as Employer’s needs shall warrant. Employee agrees to devote Employee’s full working time, attention, ability, skill and energies to the performance of Employee’s duties hereunder. Employee shall provide professional services on behalf of Employer in a manner and to an extent consistent with licensing standards, laws, rules and regulations applying to Employee’s profession. Employee shall work at all locations/offices of Employer as requested by Employer, and upon Employer’s request shall travel as reasonably needed to carry out his duties. Except as disclosed under section 1(c) below, Employee shall not provide like services for any other entity or person, whether for compensation or not, except as an employee of Employer. (b) Employee shall comply with all bylaws, policies, procedures, standards and regulations of Employer now or hereafter promulgated. Employer shall provide all such information to Employee, and shall train Employee on same. Employee shall participate in such continuing education as may be required under applicable ethical or licensing standards, laws, rules and regulations applying to Employee’s profession or as may additionally be provided by Employer. Employer shall pay for costs necessary for Employee to obtain and maintain all required licenses, credentials, approvals or other certifications to perform Employee’s duties and services hereunder. (c) Employee shall disclose in writing to Employer on the date hereof all financial interests or compensation arrangements of Employee (other than this Employment Agreement), including without limitation, any financial interests or compensation arrangements (as owner, employee, lessor, lessee, independent contractor, or otherwise) in any Biotech Venture (as hereinafter defined) (such financial interests and compensation arrangements hereinafter collectively referred to as “Arrangements”). Employee is currently an independent contractor under a Consulting Agreement with Lexicon Pharmaceuticals, Inc. which is expected to terminate on February 28, 2013. (i) Biotech Venture shall mean and include without limitation, any entity or person that develops or sells, researches, or licenses scientific information or products for the therapy of human diseases. Employee shall not enter into any other Arrangements with any Biotech Venture without the prior written consent of Employer. In the event that there is a change in any Arrangement, or if any member of Employee’s Immediate Family enters into an Arrangement during the term of this Agreement, Employee shall immediately disclose such Arrangement to Employer.

Employment and Duties of Employee. (a) Employer hereby employs Employee to serve Employer in the capacity of Vice President, Finance, Chief Medical Officer reporting to Employer’s Chief Executive Vice President and Chief Financial Officer (CFO). Employer shall have the power to determine the precise duties of Employee as they may change over time and as Employer’s needs shall warrant. Employee agrees to devote Employee’s full working time, attention, ability, skill and energies to the performance of Employee’s duties hereunder. Employee shall provide professional services on behalf of Employer in a manner and to an extent consistent with licensing standards, laws, rules and regulations applying to Employee’s professionthat established by Employer. Employee shall work at all locations/offices of Employer as requested by Employer, and upon Employer’s request shall travel as reasonably needed to carry out his duties. Except as disclosed under section 1(c) below, Employee shall not provide like services for any other entity or person, whether for compensation or not, except as an employee of Employer. (b) Employee shall comply with all bylaws, policies, procedures, standards and regulations of Employer now or hereafter promulgated. Employer shall provide all such information to Employee, and shall train Employee on same. Employee shall participate in such continuing education as may be required under applicable ethical or licensing standards, laws, rules and regulations applying to Employee’s profession or as may additionally otherwise be provided required by Employer. Employer Employee shall pay for costs necessary for Employee to obtain and maintain all required licenses, credentials, approvals or other certifications to perform Employee’s duties and services hereunder. (c) Employee shall disclose in writing to Employer on the date hereof all financial interests or compensation arrangements of Employee (other than this Employment Agreement), including without limitation, any financial interests or compensation arrangements (as owner, employee, lessor, lessee, independent contractor, or otherwise) in any Biotech Venture (as hereinafter defined) (such financial interests and compensation arrangements hereinafter collectively referred to as “Arrangements”). Employee is currently an independent contractor under a Consulting Agreement with Lexicon Pharmaceuticals, Inc. which is expected to terminate on February 28, 2013. (i) Biotech Venture shall mean and include without limitation, any entity or person that develops or sells, researches, or licenses scientific information or products for the therapy of human diseasesdiseases)(such financial interests and compensation arrangements hereinafter collectively referred to as “Arrangements”). Employee shall not enter into any other Arrangements with any Biotech Venture without the prior written consent of Employer. In the event that there is a change in any Arrangement, or if any member of Employee’s Immediate Family enters into an Arrangement during the term of this Agreement, Employee shall immediately disclose such Arrangement to Employer.

Employment and Duties of Employee. (a) Employer hereby employs Employee to serve Employer in the capacity of Senior Vice President, Finance, President of Research reporting to Employer’s Chief Executive Vice President Officer. Subject to the CEO’s direction, Employee shall direct the Research Program of the Company, prepare plans for the Company’s research activities and Chief Financial Officer (CFO)shall be a member of the Company’s Executive Committee. Employer shall have the power to determine the precise duties of Employee as they may change over time and as Employer’s needs shall warrant. Employee agrees to devote Employee’s full working time, attention, ability, skill and energies to the performance of Employee’s duties hereunder. Employee shall provide professional services on behalf of Employer in a manner and to an extent consistent with licensing standards, laws, rules and regulations applying to Employee’s professionthat established by Employer. Employee shall work at all locations/offices of Employer as requested by Employer, and upon Employer’s request shall travel as reasonably needed to carry out his duties. Except as disclosed under section 1(c) below, Employee shall not provide like services for any other entity or person, whether for compensation or not, except as an employee of Employer. Six (6) months following the Employee’s Commencement Date (see below) and after consultation with the Board, the Company shall decide whether to give Employee the title of Chief Scientific Officer. (b) Employee shall comply with all bylaws, policies, procedures, standards and regulations of Employer now or hereafter promulgated. Employer shall provide all such information to Employee, and shall train Employee on same. Employee shall participate in such continuing education as may be required under applicable ethical or licensing standards, laws, rules and regulations applying to Employee’s profession or as may additionally otherwise be provided required by Employer. Employer Employee shall pay for costs necessary for Employee to obtain and maintain all required licenses, credentials, approvals or other certifications to perform Employee’s duties and services hereunder. (c) As of the commencement of his employment, Employee shall disclose in writing to Employer on the date hereof all represents that he will not and does not have any financial interests or compensation arrangements of Employee (other than this Employment Agreement), including without limitation, any financial interests or compensation arrangements (as owner, employee, lessor, lessee, independent contractor, or otherwise) in any Biotech Venture (as hereinafter defined) (such financial interests and compensation arrangements hereinafter collectively referred to as “Arrangements”). Employee is currently an independent contractor under a Consulting Agreement with Lexicon Pharmaceuticals, Inc. which is expected to terminate on February 28, 2013. (i) Biotech Venture shall mean and include without limitation, any entity or person that develops or sells, researches, or licenses scientific information or products for the therapy of human diseases, such financial interests and compensation arrangements hereinafter collectively referred to as “Arrangements”). Employee shall not enter into any other Arrangements with any Biotech Venture without the prior written consent of Employer. In the event that there is a change in any Arrangement, or if any member of Employee’s Immediate Family enters into an Arrangement during the term of this Agreement, Employee shall immediately disclose such Arrangement to Employer.

Employment and Duties of Employee. (a) Employer hereby employs Employee to serve Employer in the capacity of Vice President, Finance, reporting to Employer’s Executive Vice President and Chief Financial Officer (CFO)of Product Development. Employer shall have the power to determine the precise duties of Employee as they may change over time and as Employer’s needs shall warrant. Employee agrees to devote Employee’s full working time, attention, ability, skill and energies to the performance of Employee’s duties hereunder. Employee shall provide professional services on behalf of Employer in a manner and to an extent consistent with licensing standards, laws, rules and regulations applying to Employee’s professionthat established by Employer. Employee shall work at all locations/offices of Employer as requested by Employer, and upon Employer’s request shall travel as reasonably needed to carry out his duties. Except as disclosed under section 1(c) below, Employee shall not provide like services for any other entity or person, whether for compensation or not, except as an employee of Employer. (b) Employee shall comply with all bylaws, policies, procedures, standards and regulations of Employer now or hereafter promulgated. Employer shall provide all such information to Employee, and shall train Employee on same. Employee shall participate in such continuing education as may be required under applicable ethical or licensing standards, laws, rules and regulations applying to Employee’s profession or as may additionally otherwise be provided required by Employer. Employer Employee shall pay for costs necessary for Employee to obtain and maintain all required licenses, credentials, approvals or other certifications to perform Employee’s duties and services hereunder. (c) Employee shall disclose in writing to Employer on the date hereof all financial interests or compensation arrangements of Employee (other than this Employment Agreement) and any member of Employee’s Immediate Family (as hereinafter defined), including without limitation, any financial interests or compensation arrangements (as owner, employee, lessor, lessee, independent contractor, or otherwise) in any Biotech Venture (as hereinafter defined) (such financial interests and compensation arrangements hereinafter collectively referred to as “Arrangements”). Employee is currently an independent contractor under a Consulting Agreement with Lexicon Pharmaceuticals, Inc. which is expected to terminate on February 28, 2013. (i) Biotech Venture shall mean and include without limitation, any entity or person that develops or sells, researches, or licenses scientific information or products for the therapy of human diseases. (ii) Immediate Family shall mean Employee’s spouse, parent, child, sibling, grandparent, and grandchild. Employee shall not enter into any other Arrangements with any Biotech Venture without the prior written consent of Employer. In the event that there is a change in any Arrangement, or if any member of Employee’s Immediate Family enters into an Arrangement during the term of this Agreement, Employee shall immediately disclose such Arrangement to Employer.

Employment and Duties of Employee. (a) Employer hereby employs Employee to serve Employer in the capacity of Vice President, FinanceCEO, reporting to Employerthe Board. Subject to the Board’s Executive Vice President and Chief Financial Officer (CFO)direction, as it may change from time to time, Employee shall be responsible for duties commensurate with Employee’s position as CEO. Employer shall have the power to determine the precise duties The responsibilities of Employee in Employee’s capacity as they CEO may change over time and depending on the then needs of Employer as Employer’s needs shall warrantdetermined by the Board in its reasonable discretion. Employee agrees to devote Employee’s full working business time, attention, ability, skill and energies to the performance of Employee’s duties hereunder. Employee shall provide professional services on behalf of Employer in a manner and to an extent consistent with licensing standards, laws, rules and regulations applying to Employee’s profession. Employee shall work at all locations/offices of Employer as requested by Employer, and upon Employer’s request shall travel as reasonably needed to carry out his duties. Except as disclosed under section 1(c) below, Employee shall not provide like services for any other entity or person, whether for compensation or not, except as an employee of Employer. (b) Employee shall comply with all bylaws, policies, procedures, standards and regulations of Employer now or hereafter promulgated. Employer shall provide all such information to Employee, and shall train which have been provided to Employee on samein writing, copies of which Employee hereby acknowledges receipt. At Employer’s expense, Employee shall participate in such continuing education as may be required under applicable ethical or licensing standards, laws, rules and regulations applying to Employee’s profession or as may additionally otherwise be provided required by Employer. Employer Employee shall pay for costs necessary for Employee to obtain and maintain all required licenses, credentials, approvals or other certifications to perform Employee’s duties and services hereunder. (c) As of the Effective Date, except as set forth below, Employee shall disclose in writing to Employer on the date hereof all financial interests or compensation arrangements of Employee (represents that, other than this Employment Agreement), including without limitationEmployee had no, any and does not have any, ongoing financial interests or compensation arrangements (as owner, employee, lessor, lessee, independent contractor, or otherwise) in any Biotech Venture (as hereinafter defined) (such financial interests and compensation arrangements hereinafter collectively referred to as “Arrangements”). Employee is currently an independent contractor under a Consulting Agreement with Lexicon Pharmaceuticals, Inc. which is expected to terminate on February 28, 2013. (i) Biotech Venture shall mean and include without limitation, in any entity or person that develops or sells, researches, or licenses scientific information or products for the therapy of human diseasesdiseases (each a “Biotech Venture”). Employee shall not enter into any other Arrangements with any Biotech Venture without the prior written consent of Employerthe Board, which consent may be withheld in the reasonable discretion of the Board; provided, however, that Employee is permitted to maintain Employee’s current board activities with Clinipace World Wide and The Global TB Alliance for Drug Development. In Employee is permitted to be on other boards of businesses, civic and not-for –profit organizations so long as such activities do not interfere with the event that there is a change in any Arrangement, or if any member performance of Employee’s Immediate Family enters into an Arrangement during the term of this Agreement, Employee shall immediately disclose such Arrangement to Employerduties hereunder.