Document:

Separation and Consulting Agreement - John X. Regan

 Exhibit 10.68 
 September 2, 2008 
 John Regan 
 Dear John: 
 As discussed, your employment position is being eliminated as part of a reduction-in-force, and your employment will terminate as a
result. This letter sets forth the substance of the separation agreement (the “Agreement”) that Anesiva Inc. (the “Company”) is offering to you to aid in your employment transition. 
 1. Separation. Your last day of work with the Company and your employment termination date will be September 2, 2008 (the “Separation
Date”). 
 2. Accrued Salary And Paid Time Off. On the Separation Date, the Company will pay you all accrued salary, and all
accrued and unused vacation earned through the Separation Date, and an additional six (6) weeks of base salary as your accrued but unused sabbatical benefit, all subject to standard payroll deductions and withholdings. 
 3. Consulting Agreement. In exchange for your entering into and complying with this Agreement, the Company agrees to retain you as a consultant
under the terms specified below. 
 (a) Consulting Period. The consulting relationship will commence on the Separation Date and will
continue for up to three (3) months (“Consulting Period”) terminating at the latest on December 2, 2008, unless terminated earlier by either you or by the Company. The Consulting Period shall terminate earlier than
December 2, 2008 upon the occurrence of any of the following: (a) on the date that you revoke this Agreement as permitted under paragraph 17 below; (b) on October 17, 2008 if you have not delivered an executed copy of this
Agreement to the Company by that date; (c) your notice to the Company of termination of the Consulting Period at any time; or (d) the Company’s written notice to you of its good faith belief that you have materially breached this
Agreement, and the basis for its good faith belief. 
 (b) Consulting Services. You agree to provide consulting services to the
Company in any area of your expertise upon request by the Chief Executive Officer (“CEO”) of the Company. Your services will include but not be limited to assistance with the Company’s joint venture, Wanbang Anesiva (Jiangsu) Biotech
Co., Ltd., personal attendance at joint venture 

 
meetings in Jiangsu, China and manufacturing team meetings in South San Francisco, and generation of a summary memo regarding Zingo manufacturing issues.
During the Consulting Period, you will report directly to the CEO, or as otherwise specified by the CEO. You agree to exercise the highest degree of professionalism and utilize your expertise and creative talents in performing these services. You
agree to make yourself available to perform such consulting services throughout the Consulting Period, up to a maximum of eighty (80) hours per month. You will not be required to report to the Company’s offices during the Consulting
Period, except as specifically requested by the Company. You agree that, during the Consulting Period, you will not enter or use the Company’s offices except as requested by the Company. 
 (c) Independent Contractor Relationship. Your relationship with the Company will be that of an independent contractor, and nothing in this
Agreement is intended to, or should be construed to, create a partnership, agency, joint venture or employment relationship after the Separation Date. You will not be entitled to any of the benefits which the Company may make available to its
employees, including, but not limited to, group health or life insurance, profit-sharing or retirement benefits. 
 (d) Consulting
Fees. Provided that you remain in compliance with this Agreement, you will be paid consulting fees in the amount of $25,167 per month (“Consulting Fees”), during the Consulting Period. 
 (e) Taxes and Withholding. You are solely responsible for, and will file, on a timely basis, all tax returns and payments required to be filed
with, or made to, any federal, state or local tax authority with respect to the performance of services and receipt of Consulting Fees. You are solely responsible for, and must maintain adequate records of, expenses incurred in the course of
performing services under this Agreement. The Company will not withhold from the Consulting Fees any amount for taxes, social security or other payroll deductions. The Company will report amounts paid to you as Consulting Fees by filing Form
1099-MISC with the Internal Revenue Service as required by law. You acknowledge that you will be entirely responsible for payment of any such taxes, and you hereby indemnify, defend and save harmless the Company, and its officers and directors in
their individual capacity, from any liability for any taxes, penalties or interest that may be assessed by any taxing authority with respect to all compensation you receive under this Agreement, with the exception of the employer’s share of
social security, if any. 
 (f) Limitations on Authority. You will have no responsibilities or authority as a consultant to the
Company other than as provided above. After the Separation Date, you will have no authority to bind the Company to any contractual obligations, whether written, oral or implied, except with the written authorization of the CEO. You agree that after
the Separation Date, you will not represent or purport to represent the Company in any manner whatsoever to any third party unless authorized to do so in writing by the Company. 
 (g) Other Work Activities. Throughout the Consulting Period, you retain the right to engage in employment, consulting, or other work relationships
in addition to your work for the Company. The Company will make reasonable arrangements to enable you to perform your work for the Company at such times and in such a manner so that it will not interfere with other activities in which you may
engage. In order to protect the trade secrets and confidential 

 
and proprietary information of the Company, you agree that, during the Consulting Period, you will notify the Company, in writing, before you obtain
competitive employment, perform competitive work for any business entity, or engage in any other work activity that is competitive with the Company. If you engage in such competitive activity without the Company’s express written consent, or
otherwise materially breach this Agreement, then (in addition to any other rights and remedies available to the Company at law, in equity or by contract) the Company’s obligation to pay you Consulting Fees, to pay COBRA Premiums (as defined
below), and after the Consulting Period, its obligation to pay Severance (as defined below), will cease immediately. 
 (h) No Conflicting
Interests. You agree that during the Consulting Period, you shall not directly or indirectly own, manage, operate, conduct, control, be employed by or be connected in any manner with the ownership, management, operation or control of any
business that competes with the Company, provided, however, that the foregoing shall not be deemed to prohibit your ownership of stock in any publicly owned company so long as such ownership, directly or indirectly, does not exceed two
percent (2%) of the total outstanding stock of such publicly owned company. 
 4. Severance Benefits. Although the Company
otherwise has no obligation to do so, if you enter this Agreement and remain in compliance with its terms, the Company will provide you the following severance benefits, pursuant to the Company’s Severance Benefit Plan (the “Severance
Plan”, a copy of which is attached as Exhibit A): 
 (a) Severance
Payments. The Company will make severance payments to you in the form of continuation of your base salary in effect on the Separation Date for two and one-half (2 1/2
) months following the Consulting Period (“Severance Payments”). The Severance Payments will be made on the Company’s regular pay schedule, and will be subject to standard payroll
deductions and withholdings. 
 (b) Health Insurance. To the extent provided by federal COBRA law or, if applicable, state
insurance laws, and by the Company’s current group health insurance policies, you will be eligible to continue your group health insurance benefits at your own expense following the Separation Date. Later, you may be able to convert to an
individual policy through the provider of the Company’s health insurance, if you wish. You will be provided with a separate notice describing your rights and obligations under COBRA. If you timely elect continued coverage under COBRA, the
Company, as an additional severance benefit under this Agreement, will pay your COBRA premiums to continue your group health insurance coverage at the level in effect as of the Separation Date for six (6) calendar months after the Separation
Date (“COBRA Premiums”). The Company’s obligation to pay COBRA Premiums shall commence when you execute this Agreement. 
 5. Stock Options. As part of this Agreement, the Company agrees that the Consulting Period shall constitute Continuous Service for purposes of calculating the exercise period for vested options and restricted stock units under your
restricted stock agreements and stock option agreements. You and the Company agree that you will receive no additional vesting of stock options or restricted stock units during the Consulting Period, and you hereby waive any 

 
such additional vesting. You and the Company acknowledge that you have received the following grants: 
  

	 	(1)	RSU number 515 dated November 19, 2004; 

  

	 	(2)	RSU number 1155 dated February 6, 2007; 

  

	 	(3)	RSU number 1202 dated July 24, 2007; 

  

	 	(4)	Option number 99 dated November 6, 2002; 

  

	 	(5)	Option number 263 dated November 18, 2003; 

  

	 	(6)	Option number 782 dated April 28, 2005; 

  

	 	(7)	Option number 913 dated November 10, 2005; 

  

	 	(8)	Option number 914 dated November 10, 2005; 

  

	 	(9)	Option number 915 dated November 10, 2005; 

  

	 	(10)	Option number 1014 dated May 10, 2006; 

  

	 	(11)	Option number 1102 dated February 6, 2007; 

  

	 	(12)	Option number 1203 dated July 24, 2007; and 

  

	 	(13)	Option number 1317 dated February 6, 2008. 

 Under the terms of your
option and restricted stock unit grants listed above, you will have three months following the termination of your Continuous Service to exercise any stock option shares and restricted stock units that are vested as of the Separation Date.
For the avoidance of doubt, you and the Company agree that you will have three months following the Consulting Period to complete any such exercise. 
 6. Other Compensation Or Benefits. You acknowledge that, except as expressly provided in this Agreement, you have not earned and will not receive any additional compensation, severance, stock option vesting, or
benefits after the Separation Date, with the sole exception of any benefit, the right to which has vested as of the Separation Date under the express terms of a Company benefit plan (e.g. 401(k) plan). 
 7. Expense Reimbursements. You agree that, within ten (10) days of the Separation Date, you will submit your final documented expense
reimbursement statement reflecting all business expenses you incurred through the Separation Date, if any, for which you seek reimbursement. The Company will reimburse you for these expenses pursuant to its regular business practice. The Company
will reimburse you for documented business expenses incurred during the Consulting Period, pursuant to its regular business practice, provided that these expenses have been pre-approved by the CEO in writing. 

 8. Return Of Company Property. You agree that, on the Separation Date, you will return to the
Company all Company documents (and all copies thereof) and other Company property in your possession or control, including, but not limited to, any Company equipment, files, correspondence, memoranda, reports, lists, proposals, agreements, drafts,
notes, minutes, drawings, records, plans, forecasts, purchase orders, research and development information, customer information and contact lists, sales and marketing information, personnel information, vendor information, promotional literature
and instructions, financial and operational information, technical information, specifications, computer-recorded information, electronic information (including email and correspondence), other tangible property (including, but not limited to,
computers), credit cards, entry cards, identification badges and keys; and, any materials of any kind that contain or embody any proprietary or confidential information of the Company (and all reproductions thereof in whole or in part). You agree to
make a diligent search to locate any such documents, property and information on the Separation Date. In addition, if you have used any personal computer, server, or e-mail system to receive, store, review, prepare or transmit any Company
confidential or proprietary data, materials or information, you agree to provide the Company with a computer-useable copy of such information and then permanently delete and expunge such Company confidential or proprietary information from those
systems; and you agree to provide the Company access to your system as requested to verify that the necessary copying and/or deletion is done. Your timely compliance with this paragraph is a precondition of your receipt of the Consulting Fees and
Severance Payments. During the Consulting Period, you may retain such documents, property, and materials only to the extent approved in writing by the Company and you shall return them immediately upon written request from the Company.

 9. Proprietary Information Obligations. You acknowledge your continuing obligations under your Employee Proprietary Information and
Inventions Agreement, a copy of which is attached hereto as Exhibit B, after the Separation Date, and both during and after the Consulting Period. 
 10. Confidentiality. The provisions of this Agreement will be held in strictest confidence by you and the Company and will not be publicized or disclosed in any manner whatsoever; provided, however,
that: (a) you may disclose this Agreement in confidence to your immediate family; (b) the parties may disclose this Agreement in confidence to their respective attorneys, accountants, auditors, tax preparers, and financial advisors;
(c) the Company may disclose this Agreement as necessary to fulfill standard or legally required corporate reporting or disclosure requirements; and (d) the parties may disclose this Agreement insofar as such disclosure may be necessary to
enforce its terms or as otherwise required by law. In particular, and without limitation, you agree not to disclose the terms of this Agreement to any current or former Company employee or independent contractor. 
 11. Nondisparagement. You agree not to disparage the Company, its officers, directors, employees, shareholders, subsidiaries, affiliates, and
agents, in any manner likely to be harmful to its or their business, business reputation, or personal reputation; provided that you will respond accurately and fully to any question, inquiry or request for information when required by legal process.

 12. No Admissions. You understand and agree that the promises and payments in consideration of
this Agreement shall not be construed to be an admission of any liability or obligation by the Company to you or to any other person, and that the Company makes no such admission. 
 13. No Voluntary Adverse Action. You agree that you will not voluntarily assist any person in bringing or pursuing any claim or action of any kind
against the Company, its parents, subsidiaries, affiliates, distributors, officers, directors, employees or agents, unless pursuant to subpoena or other compulsion of law. 
 14. Nonsolicitation of Employees. You agree that for twelve (12) months after the Separation Date, you will not, either directly or through
others, solicit, induce, or attempt to solicit or induce any employee, consultant or independent contractor of the Company to terminate his or her relationship with the Company. 
 15. Release of Claims. In exchange for the Consulting Period, Consulting Fees, COBRA Premiums, Severance Payments, and other consideration under
this Agreement to which you would not otherwise be entitled, and as required by the Severance Plan, and except as otherwise set forth in this Agreement, you hereby generally and completely release the Company and its current and former directors,
officers, employees, shareholders, partners, agents, attorneys, predecessors, successors, parent and subsidiary entities, insurers, affiliates, and assigns from any and all claims, liabilities and obligations, both known and unknown, that arise out
of or are in any way related to events, acts, conduct, or omissions occurring at any time prior to and including the date you sign this Agreement. This general release includes, but is not limited to: (a) all claims arising out of or in any way
related to your employment with the Company or the termination of that employment; (b) all claims related to your compensation or benefits from the Company, including salary, bonuses, commissions, vacation pay, expense reimbursements, severance
pay, fringe benefits, stock, stock options, or any other ownership interests in the Company; (c) all claims for breach of contract, wrongful termination, and breach of the implied covenant of good faith and fair dealing; (d) all tort
claims, including claims for fraud, defamation, emotional distress, and discharge in violation of public policy; and (e) all federal, state, and local statutory claims, including claims for discrimination, harassment, retaliation,
attorneys’ fees, or other claims arising under the federal Civil Rights Act of 1964 (as amended), the federal Americans with Disabilities Act of 1990, the federal Age Discrimination in Employment Act of 1967 (as amended) (“ADEA”), and
the California Fair Employment and Housing Act (as amended). 
 16. Exception. You are not releasing any claim that cannot be waived
under applicable state or federal law, and you are not releasing any rights that you have to be indemnified (including any right to reimbursement of expenses) arising under applicable law, the certificate of incorporation or by-laws (or similar
constituent documents of the Company), any indemnification agreement between you and the Company, or any directors’ and officers’ liability insurance policy of the Company. The foregoing notwithstanding, nothing in this Agreement shall
prevent you from filing, cooperating with, or participating in any proceeding before the Equal Employment Opportunity Commission, the Department of Labor, or the California Department of Fair Employment and Housing, except that you acknowledge and
agree that you shall not recover any monetary benefits in connection with any such claim, charge or 

 
proceeding with regard to any claim released herein. Nothing in this Agreement shall prevent you from challenging the validity of the release in a legal or
administrative proceeding. 
 17. ADEA Waiver. You acknowledge that you are knowingly and voluntarily waiving and releasing any rights
you may have under the ADEA (“ADEA Waiver”), and that the consideration given for the ADEA Waiver and release in the preceding paragraph hereof is in addition to anything of value to which you are already entitled. You further acknowledge
that you have been advised, as required by the ADEA, that: (a) your ADEA Waiver and release do not apply to any rights or claims that may arise after the date that you sign this Agreement; (b) you have the right to consult with an attorney
prior to signing this Agreement (although you may choose voluntarily not to do so); (c) you have forty-five (45) days from the date you receive this Agreement to consider this Agreement (although you may choose voluntarily to sign it
earlier); (d) you have seven (7) days following the date you sign this Agreement to revoke the Agreement by providing written notice of your revocation to the Company’s Vice President of Human Resources; and (e) the ADEA Waiver
will not be effective until the date upon which the revocation period has expired, which will be the eighth day after the date that this Agreement is signed by you (the “Effective Date”). Nevertheless, your general release of claims,
except for the ADEA Waiver, is effective immediately, and not revocable. You hereby acknowledge that the Company has provided you with the ADEA Disclosure information (under Title 29 U.S. Code Section 626(f)(1)(H)), enclosed with this
Agreement. 
 18. Section 1542 Waiver. YOU UNDERSTAND THAT THIS AGREEMENT INCLUDES A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS. In
granting the release herein, which includes claims which may be unknown to you at present, you acknowledge that you have read and understand Section 1542 of the California Civil Code: “A general release does not extend to claims which
the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.” You hereby expressly waive and
relinquish all rights and benefits under that section and any law or legal principle of similar effect in any jurisdiction with respect to the releases granted herein, including but not limited to the release of unknown and unsuspected claims
granted in this Agreement. 
 19. Representations. You hereby represent that you have been paid all compensation owed and for all
hours worked, have received all the leave and leave benefits and protections for which you are eligible, pursuant to the Family and Medical Leave Act or otherwise, and have not suffered any on-the-job injury for which you have not already filed a
claim. 
 20. Deferred Compensation and Section 409A Compliance. For purposes of Section 409A of the Internal Revenue Code
(“Section 409A”), (a) each of the cash payments pursuant to Sections 3 and 6(c)(i) shall be regarded as a separate “payment” for purposes of Section 1.409A-2(b)(2)(i) of the Treasury Regulations,
(b) all such cash payments shall be considered to satisfy, to the greatest extent possible, the exemptions from the application of Section 409A provided under Sections 1.409A-1(b)(4) and 1.409A-1(b)(9)(iii) of the Treasury
Regulations, (c) any of such cash payments that is not considered to satisfy such exemptions shall be considered to have been delayed by six (6) months from the Separation Date, and, accordingly, (d) all such cash
payments shall be considered either to be exempt from Section 

 
409A or to be compliant with its requirements. Moreover, the payment of COBRA Premiums pursuant to Section 4 shall be considered to satisfy the
exemption from the application of Section 409A provided under Section 1.409A-1(b)(9)(v) of the Treasury Regulations. 
 21.
Miscellaneous. This Agreement, including Exhibits A and B, constitutes the complete, final and exclusive embodiment of the entire agreement between you and the Company with regard to its subject matter. It is entered into without reliance on any
promise or representation, written or oral, other than those expressly contained herein, and it supersedes any other such promises, warranties or representations. This Agreement may not be modified or amended except in a writing signed by both you
and a duly authorized officer of the Company. This Agreement will bind the heirs, personal representatives, successors and assigns of both you and the Company, and inure to the benefit of both you and the Company, their heirs, successors and
assigns. If any provision of this Agreement is determined to be invalid or unenforceable, in whole or in part, this determination will not affect any other provision of this Agreement and the provision in question will be modified so as to be
rendered enforceable to the fullest extent permitted by law, consistent with the intent of the parties. This Agreement will be deemed to have been entered into and will be construed and enforced in accordance with the laws of the State of California
without regard to conflict of laws principles. Any ambiguity in this Agreement shall not be construed against either party as the drafter. Any waiver of a breach of this Agreement shall be in writing and shall not be deemed to be a waiver of any
successive breach. This Agreement may be executed in counterparts and facsimile signatures will suffice as original signatures. 
 If this Agreement is
acceptable to you, please sign below and return the original to me. You have forty-five (45) calendar days to decide whether you would like to accept this Agreement, and the Company’s offer contained herein will automatically expire if you
do not deliver a signed Agreement to the Senior Director, Human Resources by 5p.m. PDT, October 17, 2008. 

 We wish you the best in your future endeavors. 
 Sincerely, 
 Anesiva, Inc. 
  

			
		
	By:	 	/s/ Jean-Frederic Viret
		 	 Jean-Frederic Viret
 Vice President and
Chief Financial Officer

 Exhibit A – Anesiva, Inc. Severance Benefit Plan 
 Exhibit B – Employee Proprietary Information and Inventions Agreement 
 Enclosure: Disclosure under 29 U.S.C. § 626(f)(1)(H) 
 I HAVE READ, UNDERSTAND
AND AGREE FULLY TO THE FOREGOING AGREEMENT: 
  

	
	
	/s/ John Regan
	John Regan

 Date: September 2, 2008Offer Letter - William C. Houghton, M.D.

 Exhibit 10.69 
 July 9, 2008 
 William Houghton, M.D. 
 Dear
William: 
 It is with great pleasure that I invite you to join the Anesiva team. We are building an exciting company with a deep pipeline
that will be largely focused on developing and commercializing products for pain management. The most important component of any successful company is its people. To successfully accomplish our goals, we are assembling a world-class team to support
our development, manufacturing and commercialization efforts. 
 Anesiva, Inc. (the “Company”) is pleased to offer you employment
on the following terms: 
 1. Position. Your initial title will be Chief Medical Officer, and you will initially report to
Michael Kranda, President and Chief Executive Officer. This is a full-time exempt position. You will work at our facility located at 650 Gateway Boulevard, South San Francisco, CA, 94080. You agree to devote your best efforts and substantially all
of your business time and attention to the business of the Company, except for vacation periods as set forth herein, reasonable periods of illness or other incapacities permitted by the Company’s general employment policies, and as otherwise
authorized herein. By signing this letter agreement, you confirm to the Company that you have no contractual commitments or other legal obligations that would prohibit you from performing your duties for the Company. 
 2. Salary. Subject to adjustment pursuant to the Company’s employment
compensation policies as in effect and revised from time to time, your gross semi-monthly salary will be $14,166.67 (equivalent to an annualized rate of $340,000 per year), payable in accordance with the Company’s standard payroll
schedule. Employees are currently paid on the 15th and the last day of the month. 

 William Houghton, M.D. 
  
 3. Discretionary Bonus. You will be eligible to earn an annual target bonus of thirty-five percent (35%) of your base salary earned
during the bonus year. Whether your annual bonus is earned, and the amount of the annual bonus (if any), will be determined under the terms of the Company’s annual bonus program (as adopted by the Compensation Committee of the Board). The Board
will determine, in its sole discretion, the applicable corporate performance targets for each bonus year, which may include corporate financial goals, business development goals, and preclinical and clinical development goals. In order to be
eligible to earn your annual bonus, you must remain an active employee of the Company through the bonus payout date following the end of the applicable work year, and you will not earn any of your annual bonus if your employment terminates for any
reason before the bonus payout date. The Company shall have the discretion to structure some or all of your annual bonus so that it qualifies as “performance-based compensation” within the meaning of Section 162(m) of the Internal
Revenue Code of 1986, as amended (the “Code”). Your annual bonus target will be reviewed annually and may be adjusted by the Board in its discretion. 
 4. Relocation Benefits. You agree that you will permanently move to the San Francisco Bay Area within three (3) months following your first date of full-time employment with the Company (“Employment
Commencement Date”). In order to assist you in your relocation, the Company will do the following: 
  

	 	•	 	 Pay you $4,000 per month ($2,000 semi-monthly) to rent temporary housing in the San Francisco Bay Area for one year from your Employment Commencement Date
(“Housing Allowance”). The Housing Allowance payments will be paid in accordance with the Company’s standard payroll schedule and will be subject to reduction to reflect applicable withholding and payroll taxes and other deductions
required by law. 

  

	 	•	 	 Reimburse you or pay on your behalf up to $2,000 for relocation assistance services (e.g., area tours and home finding services) with a relocation consulting
firm designated by the Company (“Relocation Assistance”). 

  

	 	•	 	 Reimburse you or pay on your behalf up to $5,000 for reasonable hotel, airfare, and rental car expenses for up to three (3) months after your Employment
Commencement Date for travel for you and your wife between Coppell, TX and the San Francisco Bay Area consistent with the Company’s travel policy or otherwise pre-approved (“Travel Expenses”). 

  

	 	•	 	 Reimburse you or pay on your behalf up to $30,000 for the move and temporary storage of your household items, including up to two vehicles, from Coppell, TX
to the San Francisco Bay Area (“Moving Expenses”). The Company will, at your option, either (i) reimburse you, in accordance with the Company’s reimbursement policy and systems, for amounts paid to a licensed moving company, or
(ii) pay the Moving Expenses directly to a licensed moving company within thirty (30) days after being invoiced for services performance, or on such 

  

 Page 2 of 7 

 William Houghton, M.D. 
  

	 	 
other terms as may be agreed between the Company and the licensed moving company. 

  

	 	•	 	 Reimburse to you an after-tax amount not to exceed $50,000 in the aggregate for (i) your documented real estate commission paid by you to a broker or
other seller-based closing costs for the sale of your home in Coppell, TX, (ii) your documented lease termination fees for your apartment in Minnesota, and (iii) your documented closing costs related to your purchase of a home in the San
Francisco Bay Area provided that such expenses are incurred and submitted to the Company no later than December 31, 2009 (“Real Estate Reimbursement”). The Company will reimburse you for amounts pursuant to the Real Estate
Reimbursement in accordance with the Company’s reimbursement policy and systems. 

 5. Relocation Repayment. In
the event that you resign from employment with the Company for any reason or are terminated by the Company for Cause (as defined in this Section) within twenty-four (24) months after you Employment Commencement Date, you agree that you will
repay to the Company all amounts paid to you or on your behalf (“Repayment Amount”) pursuant to Section 4, including any applicable Housing Allowance, Relocation Assistance, Travel Expenses, Moving Expenses, and Real Estate
Reimbursement. However, if within twenty-four (24) months after your Employment Commencement Date your employment with the Company ceases for any reason other than termination for Cause within twelve (12) months after a Change in Control
(as defined in the Company’s Executive Change in Control Severance Benefit Plan) or you are subject to an Involuntary Termination without Cause (as defined in this Section) within twelve (12) months after a Change in Control, you would not
be required to repay to the Company the Repayment Amount. Any Repayment Amount must be paid within thirty (30) days after your last date of employment with the Company. You agree that you will sign any additional agreement or document that the
Company deems necessary with respect to enforcing its right to receive the Repayment Amount. 
 For all purposes under this letter agreement
(except as otherwise specified), the following terms as used in this Section 5 shall have the meanings ascribed to the below: 
 “Involuntary Termination without Cause” means either (a) involuntary discharge by the Company for reasons other than Cause (as defined below) or (b) voluntary resignation following: (i) the assignment to you or
removal of any duties or responsibilities which result in the material diminution of your position; provided, however, that the acquisition of the Company and subsequent conversion of the Company to a division or unit of the acquiring corporation
will not by itself result in a diminution of your position; (ii) a reduction in your annual base salary by greater than ten percent (10%), except to the extent the base salaries of all other executive officers of the Company are reduced by the
same or greater percentage; or (iii) a relocation of the Company’s principal executive offices to a location outside the San Francisco Bay Area. 
  

 Page 3 of 7 

 William Houghton, M.D. 
  
 “Cause” means (a) an unauthorized use or disclosure of the Company’s confidential information or trade secrets, (b) a material
breach of any agreement between you and the Company, (c) a failure to comply with the Company’s written policies or rules after 30 days’ written notice that you must comply, (d) conviction of, or plea of “guilty” or
“no contest” to, a felony under the laws of the United States or any state thereof, (e) gross negligence or willful misconduct (f) insubordination, or (g) any repeated failure to perform assigned duties. 
 6. Change in Control. You will be entitled to the benefits provided in the Company’s amended and restated Executive Change in Control
Severance Benefit Plan (the “Plan”), a copy of which is enclosed, in the event of a Change in Control (as defined in the Plan. 
 7. Employee Benefits. As a regular employee of the Company, you will be eligible to participate in a number of Company-sponsored benefits. Enclosed, for your reference, is a Summary of Current Employee Benefits. The Company reserves
the right to modify, change, or discontinue all or part of these benefits at any time at its sole discretion. 
 8. Stock Option.
Subject to the approval of the Company’s Board of Directors, you will be granted an option to purchase 140,000 shares of the Company’s Common Stock. The exercise price per share will be equal to the fair market value per share on
the date the option is granted. The option will be subject to the terms and conditions applicable to options granted under the Company’s 2003 Equity Incentive Plan (the “Plan”), as described in the Plan and the applicable Stock Option
Agreement. You will vest in twenty-five percent (25%) of the option shares after twelve (12) months of continuous service, and the balance will vest in equal monthly installments over the next thirty-six (36) months of continuous
service, as described in the applicable Stock Option Agreement. 
 9. Background Screen. This employment offer is contingent upon
successful results from background screening of any and all of your applicable driving and criminal records and verification of your social security number, college degree(s), and recent employment. By signing this letter you consent to the Company
conducting such screening. 
 10. Employee Proprietary Information and Inventions Agreement. Like all Company employees, you will be
required, as a condition of your employment with the Company, to sign the Company’s standard Employee Proprietary Information and Inventions Agreement, a copy of which is enclosed. 
 11. Proof of Authorization to Work in the United States. As required by law, your employment with the Company is contingent upon your providing
legal proof of your identity and authorization to work in the United States. Enclosed, for your reference, is the I-9 document that you will be required to complete on your first day of employment. Please refer to this document and bring the correct
identification with you. 

  

 Page 4 of 7 

 William Houghton, M.D. 
  
 
Failure to provide proper identification may delay placement on payroll and ultimately result in mandatory termination. 
 12. Employment Relationship. Employment with the Company is for no specific period of time. Your employment with the Company will be “at
will,” meaning that either you or the Company may terminate your employment at any time and for any reason, with or without cause. Although your job duties, title, compensation and benefits, as well as the Company’s personnel policies and
procedures, may change from time to time, the “at will” nature of your employment may only be changed in an express written agreement signed by you and the Chief Executive Officer of the Company. 
 13. Outside Activities. While you render services to the Company, you agree that you will not engage in any other employment, consulting or other
business activity without the prior written consent of the Company. While you render services to the Company you also will not assist any person or entity in competing with the Company or in preparing to compete with the Company. In addition, while
you render services to the Company and for one (1) year thereafter, you will not engage in, and will not assist any person or entity in, soliciting, recruiting, or hiring away from the Company any employees or consultants of the Company.

 14. Withholding Taxes. All forms of compensation referred to in this letter agreement are subject to reduction to reflect
applicable withholding and payroll taxes and other deductions required by law. Enclosed, for your reference, is the W-4 tax withholding form that you will be required to complete on your first day of employment. 
 15. Arbitration. You and the Company agree to waive any rights to a trial before a judge or jury and agree to arbitrate before a neutral
arbitrator any and all claims or disputes arising out of this letter agreement and any and all claims arising from or relating to your employment with the Company, including (but not limited to) claims against any current or former employee,
director or agent of the Company, claims of wrongful termination, retaliation, discrimination, harassment, breach of contract, breach of the covenant of good faith and fair dealing, defamation, invasion of privacy, fraud, misrepresentation,
constructive discharge or failure to provide a leave of absence, or claims regarding commissions, stock options or bonuses, infliction of emotional distress or unfair business practices. 
 The arbitrator’s decision must be written and must include the findings of fact and law that support the decision. The arbitrator’s decision
will be final and binding on both parties, except to the extent applicable law allows for judicial review of arbitration awards. The arbitrator may award any remedies that would otherwise be available to the parties if they were to bring the dispute
in court. The arbitration will be conducted in accordance with the National Rules for the Resolution of Employment Disputes of the American Arbitration Association; provided, however that the arbitrator must allow the discovery authorized by the
California Arbitration Act or the discovery that the arbitrator deems necessary for the parties to vindicate their respective claims or defenses. The arbitration will take place in San Mateo County or, at your option, the 

  

 Page 5 of 7 

 William Houghton, M.D. 
  
 
county in which you primarily worked with the Company at the time when the arbitrable dispute or claim first arose. 
 You and the Company will share the costs of arbitration equally, except that the Company will bear the cost of the arbitrator’s fee and any other
type of expense or cost that you would not be required to bear if you were to bring the dispute or claim in court. Both the Company and you will be responsible for their own attorneys’ fees, and the arbitrator may not award attorneys’ fees
unless a statute or contract at issue specifically authorizes such an award. 
 The foregoing notwithstanding, this arbitration provision
does not apply to workers’ compensation or unemployment insurance claims. 
 If an arbitrator or court of competent jurisdiction (the
“Neutral”) determines that any provision of this arbitration provision is illegal or unenforceable, then the Neutral shall modify or replace the language of this arbitration provision with a valid and enforceable provision, but only to the
minimum extent necessary to render this arbitration provision legal and enforceable. 
 16. Entire Agreement. This letter agreement,
together with the Employee Proprietary Information and Inventions Agreement, supersedes and replaces any prior agreements, representations or understandings, whether written, oral or implied, between you and the Company. 
 ****** 
 Continued on next page. 

 

 Page 6 of 7 

 William Houghton, M.D. 
  
 We hope that you will accept our offer to join the Company. This offer is contingent upon your acceptance by July 10, 2008 and upon your
starting work with the Company on or before September 8, 2008; however, we expect you to use your best efforts to start by August 13, 2008 so that you may attend the Company’s Board of Directors Meeting scheduled on that date.
Please call Michael Kranda at 650-246-6969 with your decision. Please indicate your acceptance of this offer by signing both copies of this offer letter and returning one original to me in the enclosed Federal Express envelope. The other original of
the offer letter is for your files. In addition, please fax your acceptance to our confidential fax machine. The facsimile number is 650-246-6945. Please, also sign the two copies of the Proprietary Information and Inventions Agreement and
return one of each with the offer letter in the enclosed Federal Express envelope. 
 I await a positive response and anticipate the valuable
contribution that you will make to Anesiva. 
 Very truly yours, 
  

			
	 ANESIVA, INC. 

		
		 	/s/ Michael Kranda
	By:	 	 Michael Kranda
 President and Chief Executive Officer

  
 I have read, and accept and agree to,
this letter agreement: 
 /s/ William Houghton, M.D. 
 Signature of William Houghton, M.D. 
 Start Date: September 1, 2008 
 Dated: July 10, 2008 
 cc: Michael Kranda 
 Enclosures: 
 Executive Change in Control and Severance Plan 
 Summary of Current Employee Benefits 
 Employee Proprietary Information and
Inventions Agreement 
 I-9 Form 
 W-4 Form 
 Federal Express return envelope 
  

 Page 7 of 7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00147-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00147-of-00352.parquet"}]]