EXHIBIT 10.142
TERMINATION OF EMPLOYMENT AGREEMENT
THIS TERMINATION OF EMPLOYMENT AGREEMENT, made this 8th day of February,
2000, by and between Pharmaceutical Product Development, Inc. ("PPD"), and Xxxx
X. Xxxxxx ("Employee").
WHEREAS, PPD and Employee entered into that certain employment agreement
dated January 1, 1998 (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
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deemed terminated as of the close of business on February 8, 2000 (the
"Termination Date").
2. Rights and Obligations. Neither party hereto shall have any further
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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.
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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, 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/ Xxxx X. Xxxxxx (SEAL)
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Xxxx X. Xxxxxx
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