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                                                                    EXHIBIT 10.9

                      [PAIN THERAPEUTICS, INC. LETTERHEAD]

Edmon R. Jennings
P.O. Box 2102
South San Francisco, CA 94083-2102

Dear Ed,

I believe PTI could benefit tremendously from your years of experience
commercializing life science products. In this spirit, I am pleased to offer you
the position of Chief Commercialization Officer. The terms of your employment,
outlined below, reflect our previous discussions:

1. As Chief Commercialization Officer and an officer of the Company, you will
report to the President & CEO.

2. Your primary responsibilities will include advising the Company on its
commercialization strategy, advising the Company on its business development
strategy, assessing outside product and late-stage technology opportunities and
other responsibilities as these may arise from time-to-time.

3. Your cash compensation will be $195,000 per year will be reviewed annually.
Your will be eligible to receive a discretionary year end cash and/or equity
bonus.

4. You will receive an option to buy 225,000 shares of PTI common stock within
30 days of your full-time start date. This option will be priced at the fair
market value of PTI's common stock at the date of grant, which is currently
$0.20 per share. Your option will vest monthly and equally over 48 months,
starting on the date of your full-time employment with PTI.

5. We agree that your full-time start date will be February 1, 2000.

6. You will be eligible to receive medical, life insurance, disability or other
health, insurance or other benefits provided to PTI's full-time employees as
these become defined and available to other employees. Until these benefits are
defined, you will be reimbursed in full and at cost for all COBRA associated
expenses.

7. You will be entitled to earn and to take up to three (3) weeks paid vacation
at times mutually agreeable to you and PTI. Vacation time is accrued at the rate
of 1.25 days per month. Unused vacation may not be reimbursed or carried forward
from year to year without prior written consent of the CEO.
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8. You acknowledge and agree that in accordance with California law, your
employment at PTI is "at will". You understand that PTI or you may terminate
your employment at any time, for any reason or no reason, with or without cause
and with and without notice. PTI also reserves the right to make personnel
decisions regarding your employment, including but not limited to, promotions,
salary adjustment, scope of responsibilities, transfer and termination
consistent with PTI's needs.

In the event PTI terminates your employment without cause after your one year
anniversary with the Company, PTI will continue to provide you with your regular
base salary and health benefits until the earlier of a) three months from the
date of termination, or b) your date of new employment or other compensated
position elsewhere. You will not receive severance or other termination benefits
or any other benefits (including vesting of unvested stock) in the event either
a) you terminate this employment arrangement for any reason or no reason, or b)
PTI terminates this employment arrangement for any reason or no reason in the
first 12 months of your full-time employment, or c) PTI terminates this
employment arrangement with cause.

You and PTI further agree that all disputes, claims or causes of action arising
out of your employment of its termination shall be submitted to binding
arbitration before a neutral arbitrator, except where the law specifically
forbids the use of arbitration as a final and binding remedy.

9. You warrant and represent that you have no commitments or obligations
inconsistent with PTI's offer of employment. You further understand and agree
that this is a full-time and exclusive position in the services of PTI.
Notwithstanding the foregoing, PTI is aware and agrees that you continue to
serve as director or trustee of Asilomar Software, Inc. and San Francisco
performances.

10. PTI will reimburse you for all reasonable business and travel expenses
incurred on behalf of PTI.

11. You agree to sign a "CONFIDENTIAL INFORMATION AND INVENTION ASSIGNMENT
AGREEMENT" (attached).

12. This offer expires December 31, 1999 unless mutually signed and received by
PTI before then.

Ed, I believe these terms reflect our discussions. If acceptable to you, please
sign, date and return one original copy.

I truly look forward to working with you!

/s/ REMI BARBIER
----------------
Remi Barbier
President & CEO

     I agree to the terms and conditions of employment set forth in this letter,

                                                           /s/ EDMON R. JENNINGS
                                                           ---------------------

                                                          Date: 29 December 1999
                                                                ----------------

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                                                                   EXHIBIT 10.10

                         [PAIN THERAPEUTICS LETTERHEAD]

November 23, 1999

David L. Johnson, CPA
46 Mott Place
Oakland, CA 94619

Dear Dave,

I am pleased to offer you the position of Chief Financial Officer of Pain
Therapeutics, Inc. I believe the terms of your proposed employment, outlined
below, reflect both the spirit and the letter of our previous discussions:

1. As Chief Financial Officer and an officer of PTI, you will report to the
President & CEO.

2. Your primary responsibilities will include advising and directing PTI on its
finance and accounting functions, internal/external reporting requirements,
administrative functions, budget forecasting and monitoring, and contributing
to PTI long term strategic planning efforts and other responsibilities as they
may arise from time-to-time.

3. Your cash compensation will be $155,000 per year and will be reviewed
annually. You will be eligible to receive a discretionary year end cash and
or equity bonus.

4. You will receive an option to buy 190,000 shares of PTI common stock. This
option will be priced at the fair market value of PTI's common stock at the
date of grant, which is currently $0.185 per share. Your option will vest
monthly and equally over 48 months, starting on your first day at PTI.

5. We agree that your full-time start date will be no later than Monday,
January 3, 2000.

6. You will be eligible to receive medical, life insurance, disability or other
health, insurance or other benefits provided to PTI's full-time employees as
these become defined and available to other employees. Until these benefits are
defined (3-4 months), you will be reimbursed in full and at cost for your COBRA
associated expenses.

7. You will be entitled to earn and to take up to three (3) weeks paid vacation
at times mutually agreeable to you and PTI. Unused vacation may not be
reimbursed or carried forward from year to year.

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8. You acknowledge and agree that in accordance with California law, your
employment at PTI is "at will". You understand that PTI or you may terminate
your employment at any time, for any reason or no reason, with or without cause
and with and without notice. PTI also reserves the right to make personnel
decisions regarding your employment, including but not limited to, promotions,
salary adjustment, scope of responsibilities, transfer and termination
consistent with PTI's needs.

In the event PTI terminates your employment without cause after your one year
anniversary with the Company, PTI will continue to provide you with your
regular base salary and health benefits until the earlier of a) three months
from date of termination, or b) your date of new employment or other
compensated position elsewhere. You will not receive severance or other
termination benefits or any other benefits (including vesting of unvested
stock) in the event either a) you terminate this employment arrangement for any
reason or no reason, or b) PTI terminates this employment arrangement for any
reason or no reason in the first 12 months of your full-time employment, or
c) PTI terminates this employment arrangement with cause at any time.

You and PTI further agree that all disputes, claims or causes of action arising
out of your employment or its termination shall be submitted to binding
arbitration before a neutral arbitrator, except where the law specifically
forbids the use of arbitration as a final and binding remedy.

9. You warrant and represent that you have no commitments or obligations
inconsistent with PTI's offer of employment. You further understand and agree
that this is a full-time and exclusive position in the services of PTI.

10. PTI will reimburse you for all reasonable business and travel expenses
incurred on behalf of PTI.

11. You agree to sign a "CONFIDENTIAL INFORMATION AND INVENTION ASSIGNMENT
AGREEMENT" (attached).

12. This offer expires of Friday, December 3, 1999 unless mutually signed
before then.

Dave, I believe these terms reflect our discussions. If acceptable to you,
please sign, date and return one original copy. Over the course of the next 12
months, PTI will be building a world class organization and I see you and
others as an integral member of that team.

I look forward to working with you!

/s/ REMI BARBIER
------------------------
Remi Barbier
President & CEO

      I agree to all the terms and conditions of employment set forth in this
letter,

                                       /s/ DAVID L. JOHNSON
                                       ---------------------------------
                                        David L. Johnson, CPA

                                 Date: 11/29/99
                                       ---------------------------------<PAGE>   1

                                                                   EXHIBIT 10.11

                         [PAIN THERAPEUTICS LETTERHEAD]

March 29, 1999

Barry M. Sherman, M.D.
2830 Churchill Drive
Hillsborough, CA 94010

Dear Barry,

As an entrepreneurial enterprise, I believe PTI could tremendously benefit from
your experience in providing leadership to fast growing bio-medical
organizations. In this spirit, I am pleased to offer you the position of
Executive Vice President and Chief Medical Officer of PTI. The terms of your
employment reflect both the letter and the spirit of our previous discussions
and are outlined below:

1. As Executive Vice President and Chief Medical Officer, you will report to
PTI's President & CEO.

2. Your primary responsibilities will include helping:
     a) to grow the Company from an entrepreneurial outfit to a structured
        organization
     b) to generally advise the Company in your area of expertise from
     c) to assess the reasonableness of PTI's clinical development strategy
     d) to execute its clinical trials

3. You will be a member of PTI's Management Committee.

4. Your cash compensation will be $12,500 per month ($150,000 per year) and
will be reviewed annually.

5. You will receive an option to buy 250,000 (two hundred and fifty thousand)
shares of PTI common stock. This option will be priced at the fair market value
of PTI's common stock at the date of grant, which is currently $0.10 per share.
Your option will vest monthly over 48 months, starting on a mutually agreed upon
vesting commencement date.

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6. Your start date will be April 5, 1999, as we've mutually agreed upon.

7. You be eligible to receive medical, life insurance, disability or other
health, insurance or other benefits provided to regular PTI employees as these
become defined and available to other employees.

8. You will be entitled to earn and to take three (3) weeks paid vacation at
times mutually agreeable to you and PTI. Unused vacation may not be reimbursed
or carried forward from year to year.

9. You or PTI may terminate this employment agreement with 1 month notice for
any or no reason. You will not receive severance or other termination benefits
or any other benefits (including vesting of unvested stock) in the event either
you or PTI terminates this employment arrangement for any reason or no reason.

10. You warrant and represent that you have no commitments or obligations
inconsistent with PTI's offer of employment.

11. PTI will reimburse you for all reasonable business and travel expenses
incurred on behalf of PTI.

12. You agree to sign a Confidentiality Agreement (attached).

13. This offer expires March 31, 1999 unless mutually signed before then.

14. In the event of termination of this agreement, you agree to facilitate the
transfer to PTI of all clinical data and intellectual property that, in PTI's
opinion, is relevant to the conduct of its business.

Barry, I believe these terms reflect our discussions. If acceptable to you,
please sign and return one original copy. Over the course of the next 12 months,
we will be building a world management team and I see you as an integral member
of that team.

I truly look forward to working with you!

/s/ REMI BARBIER
------------------------
Remi Barbier
President & CEO

                                                               I accept,

                                       /s/ BARRY M. SHERMAN
                                       ---------------------------------
                                        Barry M. Sherman, M.D.

                                 Date: 4/2/99
                                       ---------------------------------

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