Document:

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                                                                    EXHIBIT 10.7

                                      NOTE

$80,000.00                                                        April 20, 2001

        FOR VALUE RECEIVED, the undersigned, a full-time regular employee of
Pain Therapeutics, Inc., promises to pay to Pain Therapeutics, Inc., a Delaware
corporation (the "COMPANY"), or order, the principal sum of Eighty Thousand
Dollars ($80,000.00), together with interest on the unpaid principal hereof from
the date hereof at the fixed rate of eight percent (8.00%) per annum, compounded
annually.

        Principal and interest shall be due and payable no later than January
31, 2004. Should the undersigned fail to make full payment of principal or
interest for a period of ten (10) days or more after the due date thereof, the
whole unpaid balance on this Note of principal and interest shall become
immediately due at the option of the holder of this Note. Payments of principal
and interest shall be made in lawful money of the United States of America.

        The undersigned may at any time prepay all or any portion of the
principal or interest owing hereunder.

        Pain Therapeutics, Inc., the holder of this Note shall have full
recourse against the undersigned, and shall not be required to proceed against
any collateral securing this Note in the event of default.

        In the event the undersigned shall cease to be a full-time regular
employee, or paid consultant of the Company for any reason, this Note shall, at
the option of the Company, be accelerated, and the whole unpaid balance on this
Note of principal and accrued interest shall be immediately due and payable.

        Should any action be instituted for the collection of this Note, the
reasonable costs and attorneys' fees therein of the holder shall be paid by the
undersigned.

PAIN THERAPEUTICS, INC.

By:        /s/ REMI BARBIER                  /s/ DAVID L. JOHNSON
    --------------------------------      --------------------------------
           Remi Barbier                      David L. Johnson

Title: President, CEO and Chairman of the Board<PAGE>
                                                                    EXHIBIT 10.8

                      [PAIN THERAPEUTICS, INC. LETTERHEAD]

                                                                January 31, 2002

David Johnson
Pain Therapeutics, Inc.
416 Browning Way
South San Francisco, CA  94080

Dear Dave:

        This letter will confirm that, when you joined PTI in early 2000, we
sold to you 190,000 shares (the "Shares") of PTI's common stock ("Common Stock")
at a price per share of $0.20, the then fair market value of one share of Common
Stock. Unfortunately, due to the rapid acceleration in the fair market value of
the Common Stock in the months preceding our initial public offering, the value
of the Shares had increased to $1.00 per share by the time we executed and
delivered your Restricted Stock Purchase Agreement (the "Agreement") on March 1,
2000. We estimate that due to the discrepancy in the fair market value of the
Common Stock, you incurred an additional $152,000 of ordinary income, resulting
in an additional $78,174 in taxes owed by you for the year 2000. We are aware
that in reliance on the Agreement, you filed an 83b election form with the
Internal Revenue Service stating that you had purchased 190,000 shares of Common
Stock on March 1, 2000 at a price per share of $0.20.

        In order to ensure that you enjoy the benefit of the bargain we struck
in the Agreement and to make the discrepancy regarding the fair market value of
the Common Stock neutral to you, we propose the following:

        -       We will use commercially reasonable efforts to see that you
                receive the benefits you would have received had the actual fair
                market value of the Shares at the time of your purchase been
                $0.20, including, but not limited to, reimbursing you for the
                amount of any additional taxes and other identifiable costs you
                incur as a result of the discrepancy in the fair market value of
                the Common Stock and paying you a gross up for any tax on
                reimbursed amounts, as necessary.

<PAGE>
David Johnson
Page 2

        -       We will also reimburse you, on a grossed up basis, for any
                additional tax you incur in the event your 83b election is
                disallowed as a result of the discrepancy in the fair market
                value of the Common Stock.

        If the foregoing is acceptable to you, please indicate your acceptance
by executing this letter in the space provided below, and returning one signed
copy to the undersigned.

                                          Very truly yours,

                                          /s/ REMI BARBIER

                                          Remi Barbier
                                          President and Chief Executive Officer

Acknowledged and Agreed To
This 31st Day of January 2002

/s/ DAVID JOHNSON
------------------
David Johnson

Cc:
Michael O'Donnell, Wilson Sonsini Goodrich & Rosati
Marty Waters, Wilson Sonsini Goodrich & Rosati<PAGE>
                                                                    Exhibit 10.9

                                   EXHIBIT 1

                                      NOTE

$38,000.00                                                         March 1, 2000

        FOR VALUE RECEIVED, the undersigned promises to pay to Pain
Therapeutics, Inc., a Delaware corporation (the "COMPANY"), or order, the
principal sum of Thirty-Eight Thousand Dollars ($38,000.00), together with
interest on the unpaid principal hereof from the date hereof at the rate of five
and one-half percent (5.5%) per annum, compounded annually.

        Principal and interest shall be due and payable on January 31, 2004.
Should the undersigned fail to make full payment of principal or interest for a
period of ten (10) days or more after the due date thereof, the whole unpaid
balance on this Note of principal and interest shall become immediately due at
the option of the holder of this Note. Payments of principal and interest shall
be made in lawful money of the United States of America.

        The undersigned may at any time prepay all or any portion of the
principal or interest owing hereunder.

        This Note is secured in part by a pledge of the Company's Common Stock
under the terms of a Security Agreement of even date herewith and is subject to
all the provisions thereof.

        The holder of this Note shall have full recourse against the
undersigned, and shall not be required to proceed against the collateral
securing this Note in the event of default.

        In the event the undersigned shall cease to be an employee or consultant
of the Company for any reason, this Note shall, at the option of the Company, be
accelerated, and the whole unpaid balance on this Note of principal and accrued
interest shall be immediately due and payable.

        Should any action be instituted for the collection of this Note, the
reasonable costs and attorneys' fees therein of the holder shall be paid by the
undersigned.

                                                  /s/ DAVID L. JOHNSON
                                                  ------------------------------
                                                      (signature)

                                                  DAVID L. JOHNSON
                                                  ------------------------------
                                                      (printed name)<PAGE>
                                                                  EXHIBIT 10.135

                        PARTIAL HOSPITALIZATION AGREEMENT
                               CONTRACT AMENDMENT

This Contract Amendment effective this 1st day of September, 2001 ("Effective
Date") is entered into by and between OptimumCare Corporation ("Manager") and
Huntington Intercommunity Hospital d/b/a Humana Hospital Huntington Beach
("Original Hospital"), as assigned to Huntington Intercommunity Hospital d/b/a
Huntington Beach Hospital ("Hospital") (collectively "Parties"). As of the date
of said assignment, Hospital assumed capacity as named party to the Original
Agreement, as defined below. To memorialize the same, as of the Effective Date
hereof, the Parties hereby amend the Partial Hospital Agreement by and between
the Parties as defined therein ("Original Agreement") for the purpose of
memorializing the assigned party as named party thereto, and for amending the
rate structure thereunder. As a result of this Amendment, as of the Effective
Date set forth above, the Original Agreement shall be amended as follows:

     I.   The Preliminary Paragraph of the Original Agreement shall be deleted
          and replaced with the following:

          THIS Agreement is entered into as of this 1st day of October, 1992 by
and between Huntington Intercommunity Hospital d/b/a Huntington Beach Hospital
("Hospital") and OptimumCare Corporation, a Delaware Corporation ("Manager").

     II.  Article 4 of the Original Agreement shall be deleted and replaced with
          the following:

          (a)  Hospital shall pay Manager a monthly fee for professional and
               administrative services rendered hereunder in the amount of Sixty
               Three Thousand Dollars ($63,000.00) ("Monthly Fee"). Said Monthly
               fee shall include any and all services rendered by or through
               Manager, including but not limited to any and all costs
               associated with Medical Directors.

          (b)  On or before the tenth (10th) day of each month, Manager shall
               submit to Hospital an invoice for services rendered the month
               prior. Hospital shall deduct the amount of Eighty Five Dollars
               ($85.00) per partial hospitalization visit for all clinical
               denials in excess of six percent. Manager shall receive credit
               for all previously deducted clinical denials subsequently
               reversed under the appeals process.

          (c)  Hospital shall render Monthly Fees to Manager within Ten (10)
               days of its receipt of a completed and accurate invoice.

Except as otherwise set forth above, all other terms and conditions of the
Original Agreement shall remain unchanged.

<PAGE>

This Amendment is agreed to and entered into by the Parties, as evidenced by
signatures below.

Manager                                 Hospital

By:                                     By:
    ---------------------------------       ------------------------------------
           Edward A. Johnson                          Mary Botticella

Its: Chairman and CEO                   Its: Administrator
     --------------------------------        -----------------------------------

Date:                                   Date:
      ------------------------------          ----------------------------------

                                        By:
                                            ------------------------------------
                                                      David Culverson

                                        Its: CEO
                                             -----------------------------------

                                        Date:
                                              ----------------------------------

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