EXHIBIT 10.136
TERMINATION OF EMPLOYMENT AGREEMENT
THIS TERMINATION OF EMPLOYMENT AGREEMENT, made this 14th day of
September, 1999, by and between Pharmaceutical Product Development, Inc.,
("PPD"), and Xxxxxx X'Xxxxxx ("Employee").
WHEREAS, PPD and Employee entered into that certain employment
agreement dated October 5, 1996 (the "Employment Agreement"); and
WHEREAS, the parties desire to terminate the Employment Agreement
pursuant to the terms and conditions more specifically set forth herein.
NOW, THEREFORE, in consideration of the mutual promises, covenants and
considerations contained herein, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties agree as
follows:
1. Termination of Employment Agreement. The Employment Agreement shall
be deemed terminated as of the close of business on October 5, 1999 (the
"Termination Date").
2. Rights and Obligations. Neither party hereto shall have any further
rights or obligations under the Employment Agreement, except (a) such rights and
obligations as shall have accrued prior to the Termination Date and (b) such
rights and obligations which by the terms of the Employment Agreement survive
the Termination date.
3. Miscellaneous.
a. This agreement constitutes the entire agreement between the
parties with respect to the subject matter hereof and may not be altered or
amended except by writing signed by the parties.
b. This agreement shall be governed by the laws of State of
North Carolina.
c. This agreement shall inure to the benefit of and be binding
upon PPD Development, its successors and assigns, and Employee, his heirs,
successors, assigns and personal representatives.
IN WITNESS WHEREOF, the parties have caused this agreement to be
executed as of the date first hereinabove set forth.
PHARMACEUTICAL PRODUCT DEVELOPMENT, INC.
By: /s/ Xxxxxxx X. Xxxxxxxx
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Name: Xxxxxxx X. Xxxxxxxx
Title: Chief Executive Officer
/s/ Xxxxxx X'Xxxxxx (SEAL)
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Xxxxxx X'Xxxxxx
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