EX-10.2 EXECUTIVE RELOCATION POLICY



 





EXHIBIT 10.2




BioCryst Pharmaceuticals, Inc.

Executive Relocation Policy



Individuals who are offered employment with BioCryst Pharmaceuticals to fill a position in
organizational level 3 or above and who live greater than 45 miles from a BioCryst location are
eligible for relocation benefits under the Executive Relocation Policy. The following summarizes
the components of the policy.




Closing Cost Reimbursement — Departure Home



BioCryst will reimburse normal closing costs once a closing statement is submitted to the Company.
Normal closing costs related to the sales of your previous home include:





	•	 	Title fees including title examination, title transfer and binder
	 
	•	 	Attorney fees — related to title transfer only
	 
	•	 	Tax service and tax registration fees, if required by state
	 
	•	 	Documentary stamps, if needed
	 
	•	 	Inspections and surveys, only if required by local law





Buyer Value Option (under consideration; subject to cost analysis)



BioCryst will provide you with a home sale option through Cartus called the Buyer Value Option,
which is aimed at simplifying the home sale process for you. Prior to listing your home you will
need to work with Cartus to include an exclusion clause and to register your agent. By utilizing
the Buyer Value Option, you are provided with numerous benefits and services. Realtors Commission
and Closing Costs (normal for the area) will be billed directly to BioCryst by Cartus. Once you
have sold your home, Cartus will contract with you and assume the sale. You will not need to
attend the closing with the buyer. Cartus or its representative attends the closing with the
buyer. Further details will be provided to you on this process. (If this option is used, the
language will change in appropriate sections to reflect coverage of closing costs and reimbursement
to Cartus, not employee.)




Realtor Fees — Departure Home



BioCryst will reimburse normal closing costs including realtor commissions on the sale of your
former residence. Commissions will not exceed what is local custom for the area, up to a maximum
of 6%.




Closing Cost Reimbursement — Purchasing a Home in New Location



Normal closing costs related to the purchase of a new home include the following items, subject to
a maximum of 2% of the purchase price:





	•	 	Appraisal and appraisal inspection
	 
	•	 	Credit report
	 
	•	 	Tax service fee
	 
	•	 	Document preparation
	 
	•	 	Settlement or closing fee
	 
	•	 	Title fees including title insurance, binder, title coordination, abstract or title search
	 
	•	 	Escrow documentation fee
	 
	•	 	Notary and attorney, if needed
	 
	•	 	Deed and mortgage transfer fees
	 
	•	 	City, county and/or state stamps
	 
	•	 	Endorsements
	 
	•	 	Inspections, only if required by local law (fee should not exceed normal rate for area)
	 
	•	 	Power of Attorney document preparation and record
	 
	•	 	Underwriting fee




Non-reimbursable purchase closing costs include:





	•	 	Prepaid property taxes, insurance or interest





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	•	 	Construction loan procurement expense and interest
	 
	•	 	Mortgage loan credit insurance
	 
	•	 	Discount/buy down points or fees
	 
	•	 	Home warranty insurance program
	 
	•	 	Private mortgage insurance
	 
	•	 	Expenses normally charged to the seller.





House Hunting Trip



One house hunting trip is available to locate a personal residence before relocating. This trip is
provided for you and your spouse for up to seven days. This includes coach airfare, car rental,
meals and lodging. Trip should be made over a weekend for best airfare available.




Return Trips



BioCryst will the cover your coach airfare associated with making return trips to your current city
of residence every other weekend for a three-month period from your hire date.




Household Goods



Arrangements with a moving company of BioCryst’s choice will be made to pack, load, unload and
unpack your household goods. Storage of household goods is available for up to 90 days or until a
personal residence is located, whichever is less. You will be invoiced and responsible for payment
for storage costs beyond 90 days.




Final Move — Includes Meals, Lodging, Mileage or Airfare



Coach air travel to your new location will be provided for you and your spouse. If you drive,
reasonable and actual traveling expenses such as lodging, meals and mileage using the most direct
route will be reimbursed at the prevailing IRS rate. Meals shall not exceed $50 per day per
person.




Temporary Housing



Temporary housing will be provided to you for up to 90 days or until a personal residence is
located, whichever is less. BioCryst will work with you to locate a suitable one-bedroom apartment
or temporary residence.




Rental Car While in Temporary Housing



Upon arrival at destination, a rental car will be provided for up to 7 days. If you drive to your
new location, this benefit will not be provided.




Relocation Allowance



A one-time payment equal to one month’s base salary, subject to a maximum of $5,000, is provided to
you to apply toward miscellaneous incidental incurred during your relocation that you are not
otherwise reimbursed. Examples of such incidental items include:





	•	 	Utility hook-up/installation
	 
	•	 	Driver’s license and automobile registrations
	 
	•	 	Retuning of piano
	 
	•	 	Pet boarding fees
	 
	•	 	Cable hook-up
	 
	•	 	Trash removal





Repayment of Relocation



If you voluntarily terminate your employment from BioCryst for any reason before you have completed
twelve months of active employment from your hire date, you will be responsible for reimbursing the
Company for any relocation expenses paid to you or incurred by the Company on your behalf, on a
pro-rated monthly basis.




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