Exhibit 10.1
FOURTH AMENDMENT TO EMPLOYMENT AGREEMENT
This FOURTH AMENDMENT TO EMPLOYMENT AGREEMENT (the " Fourth Amendment")
made as of September 2, 2003, between ARIAD Pharmaceuticals, Inc., a Delaware
corporation (the "Company"), and Xxxxxx X. Xxxxxx, M.D. (the "Employee").
The Company and the Employee have entered into an Employment Agreement
dated as of January 1, 1992, as amended as of April 19, 1994, June 30, 1994, and
January 1, 1997 (the "Agreement"), and the parties hereto desire to further
amend certain provisions of the Agreement.
NOW, THEREFORE, in consideration of the premises set forth herein and
for other good and valuable consideration, the receipt of which is hereby
acknowledged, the parties hereto agree to further amend the Agreement as
follows:
I. Termination of Employment. The first sentence of Section 2 is
hereby amended to read as follows:
"The term of the Employee's employment under this Agreement
(the "Term") commenced as of January 1, 1992 (the "effective Date") and
shall end on December 31, 2007, unless sooner terminated pursuant to
Section 4 or 5 of this Agreement.
II. This Fourth Amendment shall be governed by and construed and
enforced in accordance with the laws of the Commonwealth of Massachusetts
applicable to agreements made and to be performed entirely in Massachusetts.
III. Except as modified by this Fourth Amendment, the Agreement
remains in full force and effect and unchanged.
IN WITNESS WHEREOF, the parties have executed this Fourth
Amendment as of the date first written above.
ARIAD PHARMACEUTICALS, INC.
By: /s/ Xxxxxx X. Xxxxx
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Xxxxxx X. Xxxxx, Esq.
Corporate Secretary, Senior Vice
President, Chief Legal Officer
EMPLOYEE
/s/ Xxxxxx X. Xxxxxx
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Xxxxxx X. Xxxxxx, M.D.
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