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                                                                    EXHIBIT 10.7

    THE BOARD OF DIRECTORS HAS GRANTED THIS AWARD SUBJECT TO APPROVAL BY THE
   STOCKHOLDERS OF POZEN INC. OF THE POZEN INC. 2001 LONG TERM INCENTIVE PLAN.

                    POZEN INC. 2001 LONG TERM INCENTIVE PLAN

                              CERTIFICATE OF AWARD

     Effective as of August 1, 2001 ("Date of Award"), you have been granted an
award (the "Award") pursuant to the POZEN Inc. ("POZEN") 2001 Long Term
Incentive Plan (the "Plan"), which entitles you, subject to the approval of the
Plan by the POZEN stockholders, to receive in cash an amount of up to a maximum
of $1,000,000 ("Target Amount") upon the achievement of the Performance Goal
applicable to the Award and under the other terms and conditions of the Plan.
Terms not defined in this Certificate of Award have the meanings assigned to
such terms in the Plan, a copy of which is provided to you with this Certificate
of Award.

     The sole Performance Goal for this Award is the price of POZEN's common
stock. Under this Award, if the closing price of POZEN's common stock as
reported on NASDAQ equals or exceeds the Performance Goal (as defined below) for
20 consecutive trading days during the Performance Cycle (as defined below), you
will be entitled to receive, subject to stockholder approval of the Plan, an
amount equal to 100% of the Target Award. You may receive a partial payment
under the Award at such time as the interim Performance Ratios set forth below
are first achieved. For example, when the closing price of POZEN's common stock
as reported on NASDAQ first equals or exceeds $16.50 for 20 consecutive trading
days during the Performance Cycle, you will be entitled to receive, subject to
stockholder approval of the Plan, a one-time payment in an amount equal to 33%
of the Target Amount, or $330,000.

     The principal terms of this Award are as follows:

         Target Amount:              $1,000,000

         Performance Cycle:          12 months, commencing on Date of Award

         Performance Goal:           $19.96  per share  closing  price of POZEN
                                     Inc. Common Stock ("POZEN Stock") for 20
                                     consecutive trading days

         Performance Ratios:         33% of Target Amount payable when per share
                                     closing price of POZEN Stock first equals
                                     or exceeds $16.50 for 20 consecutive
                                     trading days

                                     66% of Target Amount payable when per share
                                     closing price of POZEN Stock first equals
                                     or exceeds $18.15 for 20 consecutive
                                     trading days

                                     100% of Target Amount payable when per
                                     share closing price of POZEN Stock first
                                     equals or exceeds $19.96 for 20 consecutive
                                     trading days

     Payment is made under the Award as soon as practicable after a Performance
Ratio or the Performance Goal (if applicable) is achieved and the Compensation
Committee certifies in writing such achievement. Notwithstanding the foregoing,
no payment may be made under the Award until the Plan is

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properly approved by a majority of the stockholders of POZEN, and any rights you
may have under the Award are subject to the attainment of such stockholder
approval. Any payment to you under the Award will be reduced by the amount of
any previous payment you received under the Award. You must remain employed by
POZEN in order to be entitled to receive any payment under the Award, unless you
are terminated by POZEN without Cause, or you terminate your employment with
Good Reason, during the Performance Cycle, in which case you will be entitled to
receive one hundred percent (100%) of the Target Amount (less any amount(s) you
may have been paid under the Award prior to such termination). If you are
terminated for Cause or breach the terms of any confidentiality, inventions
assignment or non-competition agreement you may have with POZEN, you will
immediately forfeit all rights to any payment under the Award not already paid
to you. For purposes of this paragraph, Cause and Good Reason shall have the
meanings given to such terms in the Amended and Restated Employment Agreement
between POZEN and you dated as of July 25, 2001.

     In the event of and conditioned upon the consummation of a Change of
Control (as defined in the Plan) during the Performance Cycle, payment of the
full Target Amount (to the extent not previously paid) will be accelerated and
paid as provided in Article VI of the Plan.

     You are solely responsible for any tax consequences arising from the grant
of this Award, and you should consult with your personal tax and/or financial
advisors regarding the tax effects of this Award.

     Enclosed for your reference is a copy of the Plan. You should review the
Plan carefully as it contains important provisions governing the Award and
payment and restrictions under the Award.

     This Certificate of Award, as supplemented by the terms and conditions of
the Plan, constitutes the entire understanding and agreement of POZEN and you
with respect to the subject matter contained herein, and there are no other
agreements, understandings, restrictions, representations, or warranties, oral
or written, between POZEN and you with respect to the subject matter contained
herein other than those as set forth or provided for herein. The terms and
conditions included in the Plan are incorporated by reference herein, and to the
extent that any conflict may exist between any term or provision of this
Certificate of Award and any term or provision of the Plan, the term or
provision of the Plan shall control.

     This Certificate of Award shall be governed by the laws of the State of
Delaware as such laws are applied to agreements between Delaware residents
entered into and to be performed entirely within the State of Delaware.

                               POZEN INC.

                               By: /s/ Peter J. Wise
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                                       Peter J. Wise
                                       Chairman, Compensation Committee of the
                                       Board of Directors

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                            ACKNOWLEDGEMENT OF AWARD

     The undersigned represents that he/she understands and is familiar with the
terms and provisions of this Certificate of Award and the Plan and hereby
accepts the Award subject to all of the terms and provisions hereof and thereof.
The undersigned hereby agrees to accept as binding, conclusive and final all
decisions or interpretations of the Board of Directors or the Committee
administering the Plan made in good faith upon any questions arising under this
Award.

     The undersigned hereby acknowledges receipt of a copy of the Plan.

Date: August 8, 2001                         /s/ John R. Plachetka
                                             ----------------------------------
                                             John R. Plachetka

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