Second Amendment to Employment Agreement between PPD Development, LP and W. Richard Staub

Contract Categories: Human Resources › Employment Agreements
Summary

This amendment updates the employment agreement between PPD Development, LP and W. Richard Staub, effective January 1, 2003. It changes the scope of Mr. Staub's responsibilities, specifying his overall responsibility for business development across several listed subsidiaries and affiliates, and updates references to an appendix. All other terms of the original agreement remain in effect. The amendment is signed by both parties and continues the employment relationship under the revised terms.

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EX-10.198 4 dex10198.htm SECOND AMENDMENT TO EMPLOYMENT AGREEMENT Second Amendment to Employment Agreement

Exhibit 10.198

 

AMENDMENT NO. 2 TO EMPLOYMENT AGREEMENT

 

THIS AMENDMENT NO. 2 (the “Amendment”), made as of this 1st day of January, 2003 (the “Effective Date”), by and between PPD Development, LP (“PPD Development”) and W. Richard Staub (“Employee”), amends that certain Employment Agreement dated May 1, 2002 between PPD Development and Employee, as heretofore amended (the “Employment Agreement”).

 

FOR AND IN CONSIDERATION OF the mutual promises, covenants and conditions contained herein, and other good and valid consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby amend the Employment Agreement as follows:

 

1. Amendment to Section 4. The first sentence of Section 4 of the Employment Agreement is hereby stricken and replaced in full by the following: “Employee shall have overall responsibility for business development of (a) PPD Development and all of its subsidiaries except Pharmaco Investments, Inc., (b) PPD Global Ltd. (other than its informatics business), (c) Leicester Clinical Research Centre Ltd., (d) ProPharma Pte Ltd, (e) ProPharma Asia Ltd and (f) ProPharma CRO Pty Ltd (collectively, the “Businesses”).

 

2. New Appendix I. All references to Appendix I in the Employment Agreement shall be deemed to refer to Appendix I attached to this Amendment.

 

3. Binding Effect. The Employment Agreement, as herein amended, shall continue in full force and effect.

 

IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first above written.

 

PPD DEVELOPMENT, LP

    

By: PPD GP, LLC, its general partner

    

By:

  

/s/ Fred B. Davenport, Jr.

    

Name:

  

Fred B. Davenport, Jr.

    

Title:

  

Vice President

    

/s/ W. Richard Staub

  

(SEAL)

W. Richard Staub