Document:

Martin Roberts Offer Letter

  Exhibit 10.30
 July 1, 2002
 Mr. Martin Roberts
 [address]

 Dear Marty:
 This letter confirms our conversations regarding your compensation and severance benefits and sets out the specified details of your
employment.  Other terms required to be observed by law also apply.
 Your position will remain Vice President, General Counsel and Corporate Secretary.  In this position you will be
reporting directly to me.  The key functional areas that you will be responsible for include providing legal services to the Company using both in-house and outside counsel.
 Effective July 1,
2002 (the “Commencement Date”), your compensation will be US$200,000 per annum.  In addition, your incentive compensation at 100% of “plan” will be $25,000 per annum.  Earned incentive compensation will be paid on a
semi-annual basis, based on your achievement of approved semi-annual performance targets that are mutually developed by the two of us.
 You will continue to be eligible to participate in the
Company’s benefits package.  The effective date of your coverage will be your original date of hire.  In addition, you will continue to be eligible to participate in the Company’s 401(k) Plan.  In the current Plan, the
Company will match your contribution dollar for dollar up to 5%.  You will also continue to be eligible to participate in the Company’s Employee Stock Purchase Plan, which allows employees to purchase Company stock at a discount.  You
should note that the Company may modify salaries and benefits from time to time, as it deems necessary.
 As an employee of the Company, you are entitled to vacation, holiday, sick and funeral
leave.  Current policy consists of fifteen (15) days per annum vacation leave, twelve (12) holidays, two (2) floating holidays, eight (8) days per annum sick leave (additional leave at the Board’s discretion) and two (2) days funeral
leave.
 Stock Options
 At the first LookSmart Board of Directors’ meeting following the Commencement Date, we will recommend that you be
granted an additional 125,000 stock options (the “Option Shares”).  The
 
 

  exercise price for your Option Shares will be the closing price of LookSmart, Ltd. stock as quoted on the NASDAQ exchange on the day prior to the Board of Directors’
approval of your grant.  The Option Shares will vest over a period of four (4) years, 1/48th per month, commencing on the Commencement Date, and will be subject to terms and conditions of the Company’s Stock Option Plan and the
applicable Stock Option Agreement, such agreement to be consistent with the terms outlined in this letter.   
 At-Will Employment
 You
should be aware that your employment with the Company is for no specified period and constitutes “at-will” employment.  As a result, you are free to resign at any time for any reason or no reason; similarly the Company is free to
terminate its employment relationship with you at any time, with or without cause, and with or without notice.
 Severance
 If you are terminated
without “cause” or voluntarily resign for “good reason” (each as defined below), the Company will provide you with a severance package consisting of: (a) 50% of your then current annual base salary and incentive compensation at
100% of “plan”, payable in one lump sum within five (5) business days of the termination, and (b) up to six (6) months of continued benefits coverage from the date of the termination.
 Solely for the purpose of the severance provisions herein, and the provisions regarding accelerated vesting below, “cause” shall mean that you:

	  
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 	 are convicted of, or plead nolo contendere to, any felony or other offense involving moral turpitude or any crime related to your employment, or commit any act of personal dishonesty
resulting in personal enrichment in respect of your relationship with the Company or any subsidiary or affiliate or otherwise detrimental to the Company in any material respect;
 
	  
 	  
 	  
 
	  
 	 •
 	 fail to perform your duties to the Company in good faith and to the best of your ability;
 
	  
 	  
 	  
 
	  
 	 •
 	 willfully disregard, or fail to follow instructions from the Company’s senior management to do any legal act related to the Company’s business after notice to you and 10
days’ opportunity to cure such conduct;
 
	  
 	  
 	  
 
	  
 	 •
 	 exhibit habitual drunkenness or engage in substance abuse which in any way materially affects your ability to perform your duties and obligations to the Company;
 
	  
 	  
 	  
 
	  
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 	 commit any material violation of any state or federal law relating to the workplace environment.
 

 Solely for the
purposes of the severance provisions herein, and the provisions regarding accelerated vesting below, “good reason” shall mean that you voluntarily cease employment
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  with the Company due to (i) a significant change or reduction in your job duties or a reduction in your cash compensation of more than 10%, or (ii) a change in your job location
of more than 50 miles from its previous location in connection with a Change in Control (as defined below).
 Accelerated Vesting 
 As used in
this agreement, “Change of Control” shall mean the sale of all or substantially all of the assets of the Company, or the acquisition of the Company by another entity by means of consolidation or merger pursuant to which the then current
stockholders of the Company shall hold less than fifty percent (50%) of the voting power of the surviving corporation; provided, however, that a reincorporation of the Company in another jurisdiction shall not constitute a “Change of
Control.”
 If during the term of your employment, there is a “Change of Control” event and (1) you are terminated without “cause” by the surviving corporation, or (2) you
voluntarily resign for “good reason”, then one-half (1/2) of the Option Shares shall vest and become immediately exercisable, except that if there are fewer than one-half (1/2) of the Option Shares unvested, then all remaining unvested
Option Shares shall vest and become immediately exercisable. 
 In addition, if there is a “Change of Control” event and (1) your employment is terminated “without cause” by the
surviving corporation, or (2) you voluntarily resign for “good reason” (as defined above), then the time during which you may exercise your Option Shares will be extended to one (1) year following the date of such termination or
resignation.
 Confidential Information
 Given the high value of information in this market, it is essential that during your employment and at
any time thereafter, you do not disclose any confidential information relating to the Company’s operations except as may be necessary for the proper performance of your duties.  By signing this letter, you confirm that the Employment,
Confidential Information and Arbitration Agreement between you and the Company remains in full force and effect.
 Other
 The Company, at its own
expense, agrees to defend you and hold you harmless against any action brought against you or the Company relating to your employment with the Company, pursuant to the terms of that certain Indemnification Agreement between you and the Company,
which agreement remains in full force and effect.
 You are required to observe at all times all LookSmart policies and procedures (including, but not limited to, those provided to you before your
starting date).  In accordance with LookSmart’s philosophy, these policies and procedures are formulated for the efficient and fair administration of employment matters and may be varied from time to time.
 Except as otherwise expressly stated herein, this agreement supercedes any prior agreement
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  (whether written or oral) between you and the Company related to your employment.
 In the event of any dispute or claim relating
to or arising out of our employment relationship, you and the Company agree that all such disputes, including but not limited to, claims of harassment, discrimination and wrongful termination, shall be settled by arbitration in accordance with the
terms of the separate Employment, Confidential Information and Arbitration Agreement between you and the Company.
 In order to make this a valid agreement, we ask that you complete the following
acknowledgement, initial each page of this letter and return it to me.  If you require clarification of any matter, please feel free to contact me.
 Sincerely,

	 /s/ JASON KELLERMAN
 	 	 
	 
 	 	 
	 Jason Kellerman
 Chief Operating Officer
 	 	 

 

	 Accepted and agreed to by:
 	 /s/ MARTIN ROBERTS
 	 	 Date: ___________
 
	 	 
 	 
	 	 Martin Roberts
 	 

 4Amd. #1 to Asset Purchase Agreement

 EXHIBIT 10.92 
  
 AMENDMENT NO. 1 TO 
 ASSET PURCHASE AGREEMENT 
  
 THIS AMENDMENT NO. 1 (this “Amendment”) TO ASSET PURCHASE AGREEMENT is made and entered into effective as of the 30th day of October 2002, by and between Vesta
Therapeutics, Inc., a Delaware corporation (“Vesta”), and Incara Cell Technologies, Inc., a Delaware corporation (“ICT”). 
  
 WITNESSETH: 
  
 WHEREAS, Vesta and ICT entered into that certain Asset Purchase Agreement
dated as of October 21, 2002 (the “Original Agreement”); 
  
 WHEREAS, Vesta and ICT desire to amend the
Original Agreement. 
  
 NOW, THEREFORE, in consideration of the premises and the mutual promises contained herein,
the receipt and sufficiency of which are hereby acknowledged, and pursuant to Section 9.5 of the Original Agreement, the parties to this Amendment mutually agree as follows. 
  
 1.    Capitalized Terms. All capitalized terms used herein that are not otherwise defined herein shall have the meanings assigned to them in the
Original Agreement unless the context hereof requires otherwise. 
  
 2.     Amendments.

  
 (a)    The parties hereby agree that the text of Section 1.1 of the Original
Agreement is hereby amended to read in its entirety as follows: 
  
 ““Acquired Assets” means all the
assets, properties, and business of ICT of every kind, character, and description, whether tangible, intangible, real, personal, or mixed, and wherever located to the extent they are related or useful for Cell Therapy and all Recorded Information
and Regulatory Information related thereto (all of which are sometimes collectively referred to as the Assets), but excluding cash, accounts receivable and the assets as set forth on Schedule 2a to this Amendment to be acquired by ICT and Incara
Pharmaceuticals Corporation from Transamerica Technology Finance Corporation (“Transamerica”) pursuant to the Buy-out letter by Transamerica dated October 29, 2002 (the “Buy-out Agreement”).” 
  
 (b)    The parties hereby agree that the text of Section 1.16 of the Original Agreement is hereby
amended to read in its entirety as follows: 
  
 ““Liens” means mortgages, liens, pledges, charges,
security interests, obligations relating to, or encumbrances of any kind whatsoever, but
 

	 	
excluding security interests on assets under the August 12, 2002 agreement between ICT and Miltenyi Biotec, Inc.” 
 

  

(c)    The parties hereby agree that the text of Section 2.3 (a)(i) of the Original Agreement is hereby amended to read in its
entirety as follows: 
  
 “on the Closing Date, the sum of $440,042.42 by bank wire to Transamerica and the sum
of $2,845,443.40 to or on behalf of ICT (including the checks to be issued by VESTA pursuant to Section 3.2 (b)(vi)); and” 
  
 (d)    The parties hereby agree that the text of Section 3.2(a) of the Original Agreement is hereby amended by adding a new subsection (v) to read in its entirety as follows:

  
 “The Transamerica Note shall have been paid off as contemplated in Section 3.2(b)(vi).” 

 
 (e)    The parties hereby agree that the text of Section 3.2(b)(vi) of the Original
Agreement is hereby amended to read in its entirety as follows: 
  
 “all contracts, agreements, obligations and
any other promises of or by ICT relating to or affecting the Acquired Assets, whether contingent or fixed, have been satisfied or terminated by ICT. To the extent said obligations are (A) solely financial obligations that are fully disclosed in
Schedule 4.8 or (B) the Transamerica Note, and ICT has arranged for VESTA to pay all such obligations directly out of the payment under 2.3(a)(i), then to such extent the satisfaction of these financial obligations by VESTA shall not be a condition
to Closing; and,”. 
  
 (f)    The parties hereby agree that the text of
Section 4.2(a) of the Original Agreement is hereby amended to read in its entirety as follows: 
  
 “ICT has good
and marketable title to all of the Acquired Assets, free and clear of any Liens except the security interests on the Acquired Assets securing the Transamerica Note.” 
  
 (g)    The parties hereby agree that the text of Section 4.6 of the Original Agreement is hereby amended to read in its entirety as
follows: 
  
 “The Acquired Assets constitute all of the assets, tangible and intangible, of any nature
whatsoever, currently used by ICT in connection with the research, development, manufacture, production, sales, marketing, distribution, license, exploitation and/or commercialization of the Product, with the exception of assets to be acquired by
ICT from Transamerica pursuant to the Buy-out Agreement and leasehold improvements in ICT’s laboratory.” 

 
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 (h)    The parties hereby agree that the text of Section 6.2 of the Original
Agreement is hereby amended to read in its entirety as follows: 
  
 “No Liens; Full
Payment.  Any Liens with respect to any of the Acquired Assets shall be satisfied of record on or prior to the Closing Date by ICT, subject to the provisions of Section 3.2(b)(vi). All contracts, agreements, obligations and any other
promises of or by ICT, whether contingent or fixed, will have been satisfied and paid in full by ICT not later than ten (10) days of the Closing Date.” 
  
 (i)    The parties hereby agree that Schedule 4.1 and Schedule 4.8 of the Original Agreement are hereby amended to delete therefrom the
references to “The Master Note and Security Agreement between Incara Pharmaceuticals Corporation, Incara Cell Technologies, Inc. and Transamerica Technology Finance, dated October 31, 2001.” 
  
 3.    No Other Amendment.  Except as specifically amended pursuant to this Amendment, the Original
Agreement remains in full force and effect in accordance with its terms. 
  
 4.    Governing
Law.  This Amendment shall be governed and construed in accordance with the laws of the state of Delaware, without regard to the principles of conflicts of laws. 
  
 5.    Counterparts.  This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument. 
  
 6.    Binding
Effect.  This Amendment shall be binding upon and shall inure to the benefit of the parties hereto and their heirs, successors and assigns. 
  
 [Signature pages follow] 

 
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 IN WITNESS WHEREOF, the parties have executed this Amendment No. 1 to Asset
Purchase Agreement as of the date first written above. 
  
 
	 VESTA THERAPEUTICS, INC.
 
	 
	 By:
 	 	 /s/    Annemarie Moseley      
 

	 Name:
 	 	 Annemarie Moseley
 
	 Title:
 	 	 Acting Chief Executive Officer
 

 
  
  
 
	 INCARA CELL TECHNOLOGIES, INC.
 
	 
	 By:
 	 	 /s/    Clayton I. Duncan        
 

	 Name:
 	 	 Clayton I. Duncan
 
	 Title:
 	 	 President and Chief Executive Officer

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