Document:

exv10w69

Exhibit 10.69

CYTOKINETICS, INCORPORATED

AMENDED AND RESTATED EXECUTIVE EMPLOYMENT AGREEMENT

     This Amended and Restated Executive Employment Agreement (this “Agreement”) is made
and entered into by and between Robert I. Blum (“Executive”) and Cytokinetics,
Incorporated, a Delaware corporation (the “Company”), effective as of May 21, 2007 (the
“Effective Date”).

BACKGROUND

     A. It is expected that the Company from time to time will consider a possible acquisition by
another company or other change of control. The Board of Directors of the Company (the
“Board”) recognizes that such consideration can be a distraction to Executive and can cause
Executive to consider alternative employment opportunities. The Board has determined that it is in
the Company’s and its stockholders’ best interests to assure that the Company will have the
continued dedication and objectivity of Executive, notwithstanding the possibility, threat or
occurrence of a change of control of the Company.

     B. The Board believes that it is in the Company’s and its stockholders’ the best interests of
to provide Executive with an incentive to continue his or her employment and to motivate Executive
to maximize the value of the Company upon a change of control for the benefit of its stockholders.

     C. The Board believes that it is in the Company’s the best interests to provide Executive with
certain severance benefits upon Executive’s termination of employment following a change of
control. These benefits will provide Executive with enhanced financial security and incentive and
encouragement to remain with the Company notwithstanding a possible change of control.

     D. This Agreement is intended to supersede and replace in its entirety that certain Executive
Employment Agreement by and between the Company and Executive dated May 21, 2007, in order to bring
the compensation arrangements between the parties into conformance with Section 409A (as defined
below) and clarify certain matters.

AGREEMENT

     The parties hereby agree as follows:

     1. Definition of Terms. The following capitalized terms referred to in this Agreement
will have the following meanings:

          (a) “Arbitration Agreement” means the Arbitration Agreement by and between the Company
and Executive, as may be amended from time to time, and any successor agreement thereto.

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          (b) “Benefit Plans” means plans, policies or arrangements that the Company sponsors
(or participates in) and that immediately prior to Executive’s termination of employment provide
Executive and/or Executive’s eligible dependents with medical, dental, vision and/or financial
counseling benefits. Benefit Plans do not include any other type of benefit (including, but not by
way of limitation, disability, life insurance or retirement benefits). A requirement that the
Company provide Executive and Executive’s eligible dependents with coverage under the Benefit Plans
will not be satisfied unless the coverage is no less favorable, taken as a whole, than that
provided to other Officers at the same time during the period Executive is entitled to receive
severance pursuant to this Agreement. The Company may, at its option, satisfy any requirement that
the Company provide coverage under any Benefit Plan by reimbursing Executive’s premiums under
Title X of the Consolidated Budget Reconciliation Act of 1985, as amended (“COBRA”) after
Executive has properly elected continuation coverage under COBRA (in which case Executive will be
solely responsible for electing such coverage for his or her eligible dependents).

          (c) “Cause” means any of the following:

               (i) Executive’s failure by to substantially perform Executive’s duties with the Company (other
than due to Executive’s incapacity as a result of physical or mental illness for a period not to
exceed 90 days);

               (ii) Executive’s engaging in conduct which is materially injurious to the Company, its
business or reputation, or which constitutes gross misconduct;

               (iii) Executive’s material breach of this Agreement, the Invention Agreement or any other
agreements between Executive and the Company;

               (iv) Executive’s material breach, or act or omission in material contravention of, the
Company’s policies adopted by the Board or any committee thereof, including, without limitation,
the Company’s Code of Ethics, Insider Trading Compliance Program, Disclosure Process and Procedures
and Corporate Governance Guidelines;

               (v) Executive’s conviction for or admission or plea of no contest with respect to a felony; or

               (vi) Executive’s act of fraud against the Company, misappropriation of material property
belonging to the Company, or act of violence against an officer, director, employee, contractor,
agent or representative of the Company;

          provided, however, that if any of the foregoing events in (i), (iii) or (iv) are reasonably
capable of being cured, such event will only be deemed to be “Cause” if the Company has provided
written notice to Executive describing the nature of such event, and Executive fails to cure such
event to the Company’s reasonable satisfaction within thirty (30) days of his or her receipt of
such notice.

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          (d) “Change of Control” means the occurrence of any of the following:

               (i) Any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act)
becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or
indirectly, of securities of the Company representing fifty percent (50%) or more of the total
voting power represented by the Company’s then outstanding voting securities; or

               (ii) The consummation of a merger or consolidation of the Company with any other corporation,
other than a merger or consolidation that would result in the voting securities of the Company
outstanding immediately prior thereto continuing to represent (either by remaining outstanding or
by being converted into voting securities of the surviving entity) at least fifty percent (50%) of
the total voting power represented by the voting securities of the Company or such surviving entity
outstanding immediately after such merger or consolidation; or

               (iii) The consummation of the sale, lease or other disposition by the Company of all or
substantially all the Company’s assets.

               (iv) Any action or event occurring within a two-year period, as a result of which fewer than a
majority of the directors of the Company are Incumbent Directors. “Incumbent Director”
means a director of the Board who either (A) is a director of the Board as of the Effective Date,
or (B) is elected, or nominated for election, to the Board with the affirmative votes of at least a
majority of those directors whose election or nomination did not occur in connection with any
transaction described in subsection (d)(i), (d)(ii) or (d)(iii) above.

          (e) “Code” means the Internal Revenue Code of 1986, as amended.

          (f) “Disability” means that Executive has been unable to perform his or her Company
duties as the result of his or her incapacity due to physical or mental illness, and such
inability, at least twenty-six (26) weeks after its commencement, is determined to be total and
permanent by a physician selected by the Company or its insurers and reasonably acceptable to
Executive or Executive’s legal representative. Termination resulting from Disability may only be
effected after at least thirty (30) days’ written notice by the Company of its intention to
terminate Executive’s employment. If Executive resumes the performance of substantially all of his
or her duties hereunder before the termination of his or her employment becomes effective, the
notice of intent to terminate will automatically be deemed to have been revoked.

          (g) “Exchange Act” means the Securities Exchange Act of 1934, as amended.

          (h) “Good Reason” means the occurrence of any one or more of the following conditions,
unless agreed to by Executive in writing or as set forth below:

	 	(i)	 	A material diminution in the Executive’s
base compensation;
	 
	 	(ii)	 	A material diminution in the Executive’s
authority, duties or responsibilities;

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	 	(iii)	 	A material diminution in the authority,
duties, or responsibilities of the supervisor to whom the Executive
is required to report, e.g., a requirement that the Executive report
to a corporate officer or employee instead of reporting directly to
the board of directors of a corporation (or similar governing body
with respect to an entity other than a corporation);
	 
	 	(iv)	 	A material diminution in the budget over
which the Executive retains authority prior to such change;
	 
	 	(v)	 	A material change in the geographic
location at which the Executive must perform the services (i.e., the
relocation of Executive’s place of employment to a location more than
50 miles from the Company’s office location at the time of the Change
of Control); or
	 
	 	(vi)	 	Any other action or inaction that
constitutes a material breach by the Company or a successor entity of
this Agreement;

provided that, to establish “Good Reason,” Executive must give written notice of occurrence of the
applicable event to the Company within ninety (90) days of the initial existence of the condition.
If such condition is not cured to Executive’s reasonable satisfaction within thirty (30) days from
the Company’s receipt of such notice, then Executive may exercise Executive’s rights under this
Agreement to resign for Good Reason, provided that if Executive has not exercised such right within
forty-five (45) days of the date of such notice, Executive will be deemed to have agreed to the
occurrence of such event.

          (i) “Invention Agreement” means the Proprietary Information and Invention Assignment
Agreement by and between the Company and Executive, as may be amended from time to time, and any
successor agreement thereto.

          (j) “Officer” means an “officer” of the Company, as defined in Rule 16a-1(f) under the
Exchange Act.

          (k) “Section 409A” means Section 409A of the Code and the final regulations and any
guidance promulgated thereunder.

          (l) “Section 409A Limit” means two (2) times the lesser of: (i) Executive’s annualized
compensation based upon the annual rate of pay paid to Executive during the Company’s taxable year
preceding the Company’s taxable year of Executive’s termination of employment as determined under
Treasury Regulation 1.409A-1(b)(9)(iii)(A)(1) and any Internal Revenue Service guidance issued with
respect thereto; and (ii) the maximum amount that may be taken into account under a qualified plan
pursuant to Section 401(a)(17) of the Code for the year in which Executive’s employment is
terminated.

          (m) “Treasury Regulations” means Title 26 of the U.S. Code of Federal Regulations.

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     2. Term of Agreement. This Agreement will terminate upon the date that all of the
obligations of the parties hereto with respect to this Agreement have been satisfied.

     3. At-Will Employment. The Company and Executive acknowledge that Executive’s
employment is and will continue to be at-will, as defined under applicable law. If Executive’s
employment terminates for any reason, including (without limitation) any termination prior to a
Change of Control, Executive will not be entitled to any payments, benefits, damages, awards or
compensation other than as provided by this Agreement or by law.

     4. Duties and Scope of Employment.

          (a) Positions and Duties. As of the Effective Date, Executive will serve as President
and Chief Executive Officer of the Company. Executive will render such business and professional
services in the performance of his or her duties, consistent with Executive’s position within the
Company, as will reasonably be assigned to him by the Board.

          (b) Obligations. While Executive is employed by the Company, Executive will (i)
perform his or her duties faithfully and to the best of his or her ability and will devote his or
her full business efforts and time to the Company, and (ii) not engage in any other employment,
occupation or consulting activity for any material direct or indirect remuneration without the
Board’s prior approval.

     5. Compensation.

          (a) Base Salary. While Executive is employed by the Company, the Company will pay
Executive an annual salary as determined in the discretion of the Board or any committee thereof.
The base salary will be paid periodically in accordance with the Company’s normal payroll practices
and will be subject to the usual, required withholding. Executive’s salary will be subject to
review and adjustments will be made based upon the Company’s normal performance review practices.

          (b) Performance Bonus. Executive will be eligible to receive an annual bonus and
other bonuses, less applicable withholding taxes, as determined by the Board or any committee
thereof in the Board’s or such committee’s sole discretion.

          (c) Equity Compensation. Executive will be eligible to receive stock option grants,
and other equity compensation awards, as determined by the Board or any committee thereof in the
Board’s or such committee’s sole discretion.

     6. Employee Benefits. While Executive is an employee of the Company, Executive will
be entitled to participate in the Benefit Plans currently and hereafter maintained by the Company
of general applicability to other Officers, subject to any eligibility or other terms of such
Benefit Plans. The Company reserves the right to cancel or change the Benefit Plans it offers to
its employees at any time.

     7. Vacation. Executive will be entitled to vacation in accordance with the Company’s
vacation policy, with the timing and duration of specific vacations mutually and reasonably agreed
to by the parties hereto.

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     8. Expenses. The Company will reimburse Executive for reasonable travel,
entertainment or other expenses incurred by Executive in the furtherance of or in connection with
the performance of Executive’s duties as an employee of the Company, in accordance with the
Company’s expense reimbursement policy as in effect from time to time.

     9. Severance Benefits.

          (a) Involuntary Termination Following a Change of Control. If within eighteen (18)
months following a Change of Control:

	 	(X)	 	(i) Executive terminates his or her employment
with the Company (or any parent or subsidiary of the Company) for Good
Reason, or

	 	(ii)	 	the Company (or any parent or subsidiary of the Company)
terminates Executive’s employment for other than Cause; and

	 	(Y)	 	Executive signs and does not revoke a standard
release of claims with the Company in a form reasonably acceptable to
the Company;

then Executive will receive the following severance from the Company:

               (i) Severance Payment. Executive will be entitled to (A) receive continuing payments
of severance pay (less applicable withholding taxes) at a rate equal to Executive’s base salary
rate, as then in effect, for a period of twenty-four (24) months from the date of such termination,
to be paid periodically in accordance with the Company’s normal payroll policies; and (B) a
lump-sum payment equal to 100% of Executive’s target annual bonus as of the date of such
termination.

               (ii) Equity Awards. All of Executive’s then-outstanding equity awards, including,
without limitation, stock options and restricted stock awards, will immediately vest and, if
applicable, become exercisable, as to 100% of such award.

               (iii) Continued Employee Benefits. Executive will receive Company-paid coverage for
Executive and Executive’s eligible dependents under the Company’s Benefit Plans for a period equal
to the shorter of (A) twenty-four (24) months, and (B) such time as Executive secures employment
with benefits substantially similar, taken as a whole, to those provided under the Company’s
Benefit Plans at that time.

          (b) Timing of Severance Payments.

               (i) General. Any lump-sum severance payment to which Executive is entitled will be
paid by the Company to Executive in cash and in full, within ten (10) calendar days after the date
of the termination of Executive’s employment as provided in Section 9(a), or if later, the
effective date of the release of claims, and any other severance payments will be paid in
accordance with normal payroll policies as provided in Section 9(a). If Executive should die
before all amounts have been paid, such unpaid amounts will be paid in a lump-sum payment to

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Executive’s designated beneficiary, if living, or otherwise to the personal representative of
Executive’s estate.

               (ii) Section 409A.

                    (A) Notwithstanding anything to the contrary in this Agreement, if Executive is a “specified
employee” within the meaning of Section 409A at the time of Executive’s termination (other than due
to death), then the severance payable to Executive, if any, pursuant to this Agreement, together
with any other severance payments or separation benefits that are considered deferred compensation
under Section 409A (together, the “Deferred Compensation Separation Benefits”) that would
otherwise be payable within the first six (6) months following Executive’s termination of
employment, will instead become payable on the first payroll date that occurs on or after the date
six (6) months and one (1) day following the date of Executive’s termination of employment. All
subsequent Deferred Compensation Separation Benefits, if any, will be payable in accordance with
the payment schedule applicable to each payment or benefit. Notwithstanding anything herein to the
contrary, if Executive dies following his or her termination but prior to the six (6) month
anniversary of his or her termination, then any payments delayed in accordance with this paragraph
will be payable in a lump sum as soon as administratively practicable after the date of Executive’s
death and all other Deferred Compensation Separation Benefits will be payable in accordance with
the payment schedule applicable to each payment or benefit. Each payment and benefit payable under
this Agreement is intended to constitute separate payments for purposes of Section 1.409A-2(b)(2)
of the Treasury Regulations.

                    (B) Any amount paid under this Agreement that satisfies the requirements of the “short-term
deferral” rule set forth in Section 1.409A-1(b)(4) of the Treasury Regulations will not constitute
Deferred Compensation Separation Benefits for purposes of clause (i) above.

                    (C) Any amount paid under this Agreement that qualifies as a payment made as a result of an
involuntary separation from service pursuant to Section 1.409A-1(b)(9)(iii) of the Treasury
Regulations that do not exceed the Section 409A Limit will not constitute Deferred Compensation
Separation Benefits for purposes of clause (i) above.

                    (D) The foregoing provisions are intended to comply with the requirements of Section 409A so
that none of the severance payments and benefits to be provided hereunder will be subject to the
additional tax imposed under Section 409A, and any ambiguities herein will be interpreted to so
comply. The Company and Executive agree to work together in good faith to consider amendments to
this Agreement and to take such reasonable actions which are appropriate or desirable to avoid
imposition of any additional tax or income recognition prior to actual payment to Executive under
Section 409A.

          (c) Voluntary Resignation; Termination for Cause. If Executive’s employment
terminates within eighteen (18) months following a Change of Control (i) voluntarily by Executive
other than for Good Reason or (ii) for Cause by the Company, then Executive will not be entitled to
receive severance or other benefits, except for those as may then

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be established under the Company’s then existing severance plans and Benefits Plans or
pursuant to other written agreements with the Company.

          (d) Disability; Death. If the Company terminates Executive’s employment as a result
of Executive’s Disability, or Executive’s employment terminates due to his or her death, then
Executive will not be entitled to receive severance or other benefits, except for those as may then
be established under the Company’s then existing written severance and Benefits Plans or pursuant
to other written agreements with the Company.

          (e) Termination Apart from Change of Control. If Executive’s employment terminates
for any reason, either prior to the occurrence of a Change of Control or after the eighteen (18)
month period following a Change of Control, then Executive will be entitled to receive severance
and any other benefits only as may then be established under the Company’s existing written
severance plans and Benefits Plans, if any, or pursuant to any other written agreements with the
Company.

          (f) Exclusive Remedy. If Executive’s employment terminates within eighteen (18)
months following a Change of Control, the provisions of this Section 9 are intended to be and are
exclusive and in lieu of any other rights or remedies to which Executive or the Company may
otherwise be entitled, whether at law, tort or contract, in equity, or under this Agreement.
Executive will be entitled to no benefits, compensation or other payments or rights upon
termination of employment following a Change in Control other than those benefits expressly set
forth in this Section 9.

     10. Conditional Nature of Severance Payments.

          (a) Invention Agreement. If Executive is in material breach of the Invention
Agreement, including, without limitation, Executive’s obligations of confidentiality and of
non-solicitation contained in the Invention Agreement, then upon such breach by Executive:
(i) Executive will refund to the Company all cash paid to Executive pursuant to Section 9 of this
Agreement; and (ii) all severance benefits pursuant to this Agreement will immediately cease.

          (b) Non-Competition. Executive acknowledges that the nature of the Company’s
business is such that if Executive were to become employed by, or substantially involved in, the
business of a competitor of the Company during the twenty-four (24) months following the
termination of Executive’s employment, it would be very difficult for Executive not to rely on or
use the Company’s trade secrets and confidential information. Accordingly, to avoid the inevitable
disclosure of the Company’s trade secrets and confidential information, Executive agrees and
acknowledges that Executive’s right to receive the severance payments set forth in this Agreement
(to the extent Executive is otherwise entitled to such payments) will be conditioned upon Executive
not directly or indirectly engaging in (whether as an employee, consultant, agent, proprietor,
principal, partner, stockholder, corporate officer, director or otherwise), nor having any
ownership interest in or participating in the financing, operation, management or control of, any
person, firm, corporation or business that directly competes with the Company or is a customer of
the Company during such 24-month period. Notwithstanding the foregoing, Executive may own,
directly or indirectly, up to 2% of the capital stock of a company that directly competes with the
Company, provided such capital stock is traded on a

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national securities exchange or through the automated quotation system of a registered
securities association. Upon any breach of this Section, (i) Executive will refund to the Company
all cash paid to Executive pursuant to Section 9 of this Agreement; and (ii) all severance payments
pursuant to this Agreement will immediately cease.

     11. Golden Parachute Excise Tax Gross-Up. If the severance and other benefits
provided for in this Agreement or otherwise payable to Executive constitute “parachute payments”
within the meaning of Section 280G of the Code and will be subject to the excise tax imposed by
Section 4999 of the Code (the “Excise Tax”), then Executive will receive from the Company
(i) an additional cash payment sufficient to pay such  Excise Tax, and (ii) an additional payment
sufficient to pay the cumulative Excise Tax and  all cumulative federal and state income taxes
(including any interest and penalties imposed with respect to such taxes) arising from the payments
made by the Company to Executive pursuant to this sentence ((i) and (ii) collectively, the
“Gross-Up Payment”).  Unless the Company and Executive otherwise agree in writing, the
determination of Executive’s Excise Tax liability and the amount of the Gross-Up Payment required
to be paid under this Section will be made in writing by the Company’s accountants (the
“Accountants”), which will provide detailed supporting calculations both to the Company and
Executive within thirty (30) days after the Company’s receipt of notice from Executive that there
has been a parachute payment, or such earlier time as the Company requests.  Executive will receive
such Gross-Up Payment within thirty (30) days after receipt of the Accountants’ determination, but
no later than the close of the calendar year following the calendar year in which Executive pays
the applicable Excise Tax to the Internal Revenue Service (the “IRS”).  If the IRS
determines that the Excise Tax incurred by Executive is greater or lesser than the amount so
determined by the Accountants (“Overpayment” and “Underpayment,” respectively),
each party agrees to promptly make such additional payment, including interest and any tax
penalties, to the other party as the Accountants reasonably determine is appropriate to ensure that
the net economic effect to Executive under this Section, on an after-tax basis, is as if the
Excise Tax did not apply to Executive; provided, however, that any Underpayment will be made to
Executive no later than the close of the calendar year following the calendar year in which the
Executive pays the Underpayment to the IRS.  For purposes of making the calculations required by
this Section, the Accountants may make reasonable assumptions and approximations concerning
applicable taxes and may rely on interpretations of the Code for which there is a “substantial
authority” tax reporting position.  The Company and Executive will furnish to the Accountants such
information and documents as the Accountants may reasonably request in order to make a
determination under this Section.  The Company will bear all costs the Accountants reasonably incur
in connection with any calculations contemplated by this Section. 

     12. Invention and Arbitration Agreements. Executive agrees and acknowledges that the
Invention Agreement and the Arbitration Agreement will continue in full force and effect and
Executive agrees to abide by the terms thereof.

     13. Successors.

          (a) The Company’s Successors. Any successor to the Company (whether direct or
indirect and whether by purchase, merger, consolidation, liquidation or otherwise) to all or
substantially all of the Company’s business and/or assets will assume the obligations and rights
under this Agreement and agree expressly to perform the obligations under this Agreement

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in the same manner and to the same extent as the Company would be required to perform such
obligations in the absence of a succession. For all purposes under this Agreement, the term
“Company” will include any successor to the Company’s business and/or assets that executes and
delivers an agreement setting forth the assumption described above or that becomes bound by this
Agreement by operation of law.

          (b) Executive’s Successors. This Agreement and all rights of Executive hereunder will
inure to the benefit of, and be enforceable by, Executive’s personal or legal representatives,
executors, administrators, successors, heirs, distributees, devisees and legatees.

     14. Notice.

          (a) General. Notices and all other communications contemplated by this Agreement will
be in writing and will be deemed to have been duly given when personally delivered or when mailed
by U.S. registered or certified mail, return receipt requested and postage prepaid. In the case of
Executive, mailed notices will be addressed to him or her at the home address which he or she most
recently communicated to the Company in writing. In the case of the Company, mailed notices will
be addressed to its corporate headquarters, and all notices will be directed to the attention of
its Chief Executive Officer (or, if Executive holds the position of Chief Executive Officer, then
to the Company’s General Counsel).

          (b) Notice of Termination. Any termination by the Company for Cause or by Executive
for Good Reason or as a result of a voluntary resignation will be communicated by a notice of
termination to the other party hereto given in accordance with Section 14(a). Such notice will
indicate the specific termination provision in this Agreement relied upon, will set forth in
reasonable detail the facts and circumstances claimed to provide a basis for termination under the
provision so indicated, and will specify the termination date (which will be not more than thirty
(30) days after the giving of such notice).

     15. Miscellaneous Provisions.

          (a) No Duty to Mitigate. Executive will not be required to mitigate the amount of any
payment contemplated by this Agreement, nor, except as otherwise contemplated in this Agreement,
will any such payment be reduced by any earnings that Executive may receive from any other source.

          (b) Waiver and Modification. No provision of this Agreement will be modified, waived
or discharged unless the modification, waiver or discharge is agreed to in writing and signed by
Executive and by an authorized officer of the Company (other than Executive). No waiver by either
party of any breach of, or of compliance with, any condition or provision of this Agreement by the
other party will be considered a waiver of any other condition or provision or of the same
condition or provision at another time.

          (c) Headings. All captions and section headings used in this Agreement are for
convenient reference only and do not form a part of this Agreement.

          (d) Entire Agreement. This Agreement, the Invention Agreement and the Arbitration
Agreement constitute the entire agreement of the parties hereto with respect to their

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respective subject matter, and supersede in their entirety all prior representations,
understandings, undertakings or agreements (whether oral or written and whether expressed or
implied) of the parties with respect to such subject matter.

          (e) Choice of Law. The laws of the State of California (without reference to its
choice of laws provisions that would lead to the application of the laws of another State) will
govern the validity, interpretation, construction and performance of, and any disputes in
connection with, this Agreement.

          (f) Severability. If any provisions herein are found to be unenforceable on the
grounds that they conflict with applicable laws, the parties intend that such provisions be
replaced, reformed or narrowed so that their original business purpose can be accomplished to the
extent permitted by law, and that the remaining provisions will not in any way be affected or
impaired thereby.

          (g) Withholding. All payments made pursuant to this Agreement will be subject to
withholding of applicable income and employment taxes.

          (h) Advice of Counsel; Understanding of Obligations. Each party acknowledges that, in
executing this Agreement, such party has had the opportunity to seek the advice of independent
legal counsel. This Agreement will not be construed against any party by reason of the drafting or
preparation hereof. Executive represents that he or she has read and understood all of his or her
obligations under this Agreement, the Invention Agreement and the Arbitration Agreement, and hereby
confirms the reasonableness of the duration, scope and geographic coverage of such obligations.

          (i) Counterparts. This Agreement may be executed in counterparts, each of which will
be deemed an original, but all of which together will constitute one and the same instrument.

[The remainder of this page is intentionally left blank. The signature page follows.]

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IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company by
its duly authorized officer, as of the day and year set forth below, to be effective as of the
Effective Date.

	 	 	 	 	 	 	 	 	 
	COMPANY	 	 	 	CYTOKINETICS, INCORPORATED	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	/s/ James H. Sabry	 	 
	 

	 	 	 	 	 	 

	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	James H. Sabry, M.D., Ph.D.	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	Chairman of the Board	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	EXECUTIVE

	 	 	 	By:	 	/s/ Robert I. Blum	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	Robert I. Blum	 	 
	 

	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	President and Chief Executive
Officer	 	 
	 

	 	 	 	 	 	 	 	 

Page 12 of 12exv10w1

EXHIBIT 10.1

[Series ___]

LIBERTY GLOBAL, INC.

2005 NONEMPLOYEE DIRECTOR INCENTIVE PLAN

RESTRICTED SHARE UNITS AGREEMENT

     THIS RESTRICTED SHARE UNITS AGREEMENT (“Agreement”) is made as of
                                         (the “Effective Date”), by and between LIBERTY GLOBAL, INC., a Delaware
corporation (the “Company”), and the individual whose name, address, and social security/payroll
number appear on the signature page hereto (the “Grantee”).

     The Company has adopted the Liberty Global, Inc. 2005 Nonemployee Director Incentive Plan, as
amended and restated (the “Plan”), which by this reference is made a part hereof, for the benefit
of eligible Nonemployee Directors of the Company. Capitalized terms used and not otherwise defined
herein will have the meaning given thereto in the Plan.

     Pursuant to the Plan, the Board has determined that it would be in the best interest of the
Company and its stockholders to award restricted share units to Grantee, subject to the conditions
and restrictions set forth herein and in the Plan, in order to provide Grantee additional
remuneration for services rendered as a nonemployee director and to increase Grantee’s personal
interest in the success and progress of the Company.

     The Company and Grantee therefore agree as follows:

     1. Definitions. The following terms, when used in this Agreement, have the following
meanings:

          “Annual Meeting Date” means the date on which the annual meeting of the stockholders of the
Company at which directors are elected in accordance with Delaware law is held in any calendar
year.

          “Business Day” means any day other than Saturday, Sunday or a day on which banking
institutions in Denver, Colorado, are required or authorized to be closed.

     “Cause” has the meaning specified for “cause” in Section 10.2(b) of the Plan.

     “Code” means the Internal Revenue Code of 1986, as it may be amended from time to time.

     “Company” has the meaning specified in the preamble to this Agreement.

     “Effective Date” has the meaning specified in the preamble to this Agreement.

     “Grantee” has the meaning specified in the preamble to this Agreement.

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          “LBTY___”
means the Series ___ common stock, par value $.01 per share, of the Company.

          “Plan” has the meaning specified in the recitals to this Agreement.

          “Required Withholding Amount” has the meaning specified in Section 14 of this Agreement.

          “Restricted Share Units” has the meaning specified in Section 2 of this Agreement. Restricted
Share Units represent an Award of Restricted Shares that provides for the shares of Common Stock
subject to the Award to be issued at or following the end of the Restriction Period within the
meaning of Article VIII of the Plan.

          “RSU Dividend Equivalents” means, to the extent specified by the Board only, an amount equal
to all dividends and other distributions (or the economic equivalent thereof) which are payable to
stockholders of record during the Restriction Period on a like number and kind of shares of Common
Stock as the shares represented by the Restricted Share Units.

     2. Grant of Restricted Share Units. Subject to the terms and conditions herein, pursuant to
the Plan, the Company grants to the Grantee effective as of the Effective Date the number of
restricted share units set forth on the signature page hereto (the “Restricted Share Units”), each
representing the right to receive one share of LBTY___ subject to the conditions and restrictions
set forth below and in the Plan.

     3. Settlement of Restricted Share Units. Settlement of Restricted Share Units that vest in
accordance with Section 5 or 6 of this Agreement or Section 10.1(b) of the Plan shall be made as
soon as administratively practicable after vesting, but in no event later than March 15 of the
calendar year immediately following the calendar year in which vesting occurs, in the form of
shares of LBTY___, together with any related RSU Dividend Equivalents, in accordance with Section
7.

     4. Stockholder Rights; RSU Dividend Equivalents. The Grantee shall have no rights of a
stockholder with respect to any shares of LBTY___ represented by any Restricted Share Units unless
and until such time as shares of LBTY___ represented by vested Restricted Share Units have been
delivered to the Grantee in accordance with Section 7. Grantee will have no right to receive, or
otherwise with respect to, any RSU Dividend Equivalents until such time, if ever, as the Restricted
Share Units to which such RSU Dividend Equivalents relate shall have become vested and, if vesting
does not occur, the related RSU Dividend Equivalents will be forfeited. RSU Dividend Equivalents
shall not bear interest or be segregated in a separate account. Notwithstanding the foregoing, the
Board may, in its sole discretion, accelerate the vesting of any portion of the RSU Dividend
Equivalents (the “Vested RSU Dividend Equivalents”). The settlement of any Vested RSU Dividend
Equivalents shall be made as soon as administratively practicable after the accelerated vesting
date, but in no event later than March 15 of the following calendar year.

     5. Vesting. Unless the Board otherwise determines in its sole discretion, subject to earlier
vesting in accordance with Section 6 of this Agreement or Section 10.1(b) of the Plan and subject
to the last sentence of this Section 5, the Restricted Share Units shall become vested, and

2

 

the
restrictions with respect thereto shall lapse, on the Annual Meeting Date first following the
Effective Date (such date being a Vesting Date within the meaning of the Plan). On the
Vesting Date, and the satisfaction of any other applicable restrictions, terms and conditions, any
RSU Dividend Equivalents with respect to the Restricted Share Units that have not theretofore
become Vested RSU Dividend Equivalents (“Unpaid RSU Dividend Equivalents”) will become vested to
the extent that the related Restricted Share Units shall have become vested in accordance with this
Agreement. Notwithstanding the foregoing, Grantee will not vest, pursuant to this Section 5, in
Restricted Share Units as to which Grantee would otherwise vest on the Vesting Date if Grantee’s
service as a Nonemployee Director terminates, or a breach of any applicable restrictions, terms or
conditions with respect to such Restricted Share Units has occurred, at any time after the
Effective Date and prior to the Vesting Date (the vesting or forfeiture of such Restricted Share
Units to be governed instead by Section 6).

     6. Early Vesting or Forfeiture.

          (a) Unless otherwise determined by the Board in its sole discretion:

	 	(i)	 	If Grantee’s service as a Nonemployee Director
terminates by reason of Grantee’s death or Disability, the Restricted
Share Units, to the extent not theretofore vested, and any Unpaid RSU
Dividend Equivalents with respect to the Restricted Share Units, will
immediately become fully vested.
	 
	 	(ii)	 	If Grantee’s service as a Nonemployee Director
terminates prior to the Vesting Date for any reason other than as
specified in Section 6(a)(i) above, then the Restricted Share Units, to
the extent not theretofore vested, together with any related Unpaid RSU
Dividend Equivalents, will be forfeited immediately.
	 
	 	(iii)	 	If Grantee breaches any restrictions, terms or
conditions provided in or established by the Board pursuant to the Plan
or this Agreement with respect to the Restricted Share Units prior to
the vesting thereof (including any attempted or completed transfer of
any such unvested Restricted Share Units contrary to the terms of the
Plan or this Agreement), the unvested Restricted Share Units, together
with any related Unpaid RSU Dividend Equivalents, will be forfeited
immediately.

          (b) Upon forfeiture of any unvested Restricted Share Units and any related Unpaid RSU Dividend
Equivalents, such Restricted Share Units and any related Unpaid RSU Dividend Equivalents will be
immediately cancelled, and Grantee will cease to have any rights with respect thereto.

     7. Delivery by Company. As soon as practicable after the vesting of Restricted Share Units
and any related Unpaid RSU Dividend Equivalents pursuant to Section 5 or 6 hereof or Section
10.1(b) of the Plan, and subject to the withholding referred to in Section 13 of this Agreement,
the Company will deliver or cause to be delivered to or at the
direction of Grantee (i)

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(a) a certificate or certificates issued in Grantee’s names for the shares of LBTY___
represented by such vested Restricted Share Units, (b) a statement of holdings reflecting that the
shares of LBTY___ represented by such vested Restricted Share Units are held for the benefit of
Grantee in uncertificated form by a third party service provider designated by the Company, or (c)
a confirmation of deposit of the shares of LBTY___ represented by such vested Restricted Share
Units, in book-entry form, into the broker’s account designated by Grantee, (ii) any securities
constituting any related vested Unpaid RSU Dividend Equivalents by any applicable method specified
in clause (i) above, and (iii) any cash payment constituting related vested Unpaid RSU Dividend
Equivalents. Any delivery of securities will be deemed effected for all purposes when (1) a
certificate representing or statement of holdings reflecting such securities and, in the case of
Unpaid RSU Dividend Equivalents, any other documents necessary to reflect ownership thereof by
Grantee has been delivered personally to the Grantee or, if delivery is by mail, when the stock
transfer agent of the Company has deposited the certificate or statement of holdings and/or such
other documents in the United States mail, addressed to the Grantee, or (2) confirmation of deposit
into the designated broker’s account of such securities, in written or electronic format, is first
made available to Grantee. Any cash payment will be deemed effected when a check from the Company,
payable to or at the direction of the Grantee and in the amount equal to the amount of the cash
payment, has been delivered personally to or at the direction of the Grantee or deposited in the
United States mail, addressed to the Grantee or his or her nominee.

     8. Nontransferability of Restricted Share Units Before Vesting.

          (a) Before vesting and during Grantee’s lifetime, the Restricted Share Units and any related
Unpaid RSU Dividend Equivalents are not transferable (voluntarily or involuntarily) other than
pursuant to a Domestic Relations Order. In the event of transfer pursuant to a Domestic Relations
Order, the unvested Restricted Share Units and any related Unpaid RSU Dividend Equivalents so
transferred shall be subject to all the restrictions, terms and provisions of this Agreement and
the Plan, and the transferee shall be bound by all applicable provisions of this Agreement and the
Plan in the same manner as Grantee.

          (b) Grantee may designate a beneficiary or beneficiaries to whom the Restricted Share Units,
to the extent then vesting, and any related Unpaid RSU Dividend Equivalents will pass upon the
Grantee’s death and may change such designation from time to time by filing a written designation
of beneficiary or beneficiaries with the Company on such form as may be prescribed by the Board,
provided that no such designation will be effective unless so filed prior to the death of Grantee.
If no such designation is made or if the designated beneficiary does not survive Grantee’s death,
the Restricted Share Units, to the extent then vesting, and any related Unpaid RSU Dividend
Equivalents will pass by will or the laws of descent and distribution. Following Grantee’s death,
the person to whom such vested Restricted Share Units and any related Unpaid RSU Dividend
Equivalents pass according to the foregoing will be deemed the Grantee for purposes of any
applicable provisions of this Agreement.

     9. Adjustments. The Restricted Share Units and any related Unpaid RSU Dividend Equivalents
will be subject to adjustment in the sole discretion of the Board and in such manner as the Board
may deem equitable and appropriate in connection with the occurrence following the
Effective Date of any of the events described in Section 4.2 of
the Plan; provided, however, that

4

 

such adjustment shall be made in a manner that complies with the requirements of Section 409A
of the Internal Revenue Code of 1986, as amended, and relevant authorities, to the extent
applicable.

     10. Company’s Rights. The existence of this Agreement will not affect in any way the right or
power of the Company or its stockholders to accomplish any corporate act, including, without
limitation, the acts referred to in Section 10.15 of the Plan.

     11. Limitation of Rights. Nothing in this Agreement or the Plan will be construed to give
Grantee or any other person any interest in any fund or in any specified asset or assets of the
Company or any of its Subsidiaries. Neither Grantee nor any person claiming through Grantee will
have any right or interest in the shares of LBTY___ represented by any Restricted Share Units or
any related Unpaid RSU Dividend Equivalents unless and until there shall have been full compliance
with all the terms, conditions and provisions of this Agreement and the Plan which affect Grantee
or such other person.

     12. Restrictions Imposed by Law. Without limiting the generality of Section 10.7 of the Plan,
the Company shall not be obligated to deliver any shares of
LBTY___ represented by vested
Restricted Share Units or securities constituting any RSU Dividend Equivalents if counsel to the
Company determines that the issuance or delivery thereof would violate any applicable law or any
rule or regulation of any governmental authority or any rule or regulation of, or agreement of the
Company with, any securities exchange upon which shares of
LBTY___ or such other securities are
listed or quoted. The Company will in no event be obligated to take any affirmative action in
order to cause the delivery of shares of LBTY___ represented by vested Restricted Share Units or
securities constituting any RSU Dividend Equivalents to comply with any such law, rule, regulation,
or agreement. Any certificates representing any such securities issued or delivered under this
Agreement may bear such legend or legends as the Company deems appropriate in order to assure
compliance with applicable securities laws.

     13. Withholding. To the extent that the Company is subject to withholding tax requirements
under any national, state, local or other governmental law with respect to the award of the
Restricted Share Units to Grantee or the vesting thereof, or the designation of any RSU Dividend
Equivalents as payable or distributable or the payment or distribution thereof, the Grantee must
make arrangement satisfactory to the Company to make payment to the Company of the amount required
to be withheld under such tax laws, as determined by the Company (collectively, the “Required
Withholding Amount”). To the extent such withholding is required because the Grantee vests in some
or all of the Restricted Share Units, the Company shall withhold (i) from the shares of LBTY___
represented by vested Restricted Share Units and otherwise deliverable to the Grantee a number of
shares of LBTY___ and/or (ii) from any related RSU Dividend Equivalents otherwise deliverable to
the Grantee an amount of such RSU Dividend Equivalents, which collectively have a value (or, in the
case of securities withheld, a Fair Market Value), equal to the Required Withholding Amount, unless
Grantee remits the Required Withholding Amount to the Company in cash in such form and by such time
as the Company may require or other provisions for withholding such amount satisfactory to the
Company have been made. Notwithstanding any other provisions of this Agreement, the
issuance or delivery of any shares of LBTY___ represented by vested Restricted Share Units and
any related RSU Dividend Equivalents may be postponed until any required withholding taxes have
been paid to the Company.

5

 

     14. Notice. Unless the Company notifies the Grantee in writing of a different procedure, any
notice or other communication to the Company with respect to this Agreement will be in writing and
will be delivered personally or sent by United States first class mail, postage prepaid, sent by
overnight courier, freight prepaid or sent by facsimile and addressed as follows:

Liberty Global, Inc.

12300 Liberty Boulevard

Englewood, CO 80112

Attn: General Counsel

Fax: 303-220-6691

     Any notice or other communication to the Grantee with respect to this Agreement will be in
writing and will be delivered personally, or will be sent by United States first class mail,
postage prepaid, to the Grantee’s address as listed in the records of the Company on the Effective
Date, unless the Company has received written notification from the Grantee of a change of address.

     15. Amendment. Notwithstanding any other provision hereof, this Agreement may be supplemented
or amended from time to time as approved by the Board as contemplated by the Plan. Without
limiting the generality of the foregoing, without the consent of the Grantee,

          (a) this Agreement may be amended or supplemented from time to time as approved by the Board
(i) to cure any ambiguity or to correct or supplement any provision herein which may be defective
or inconsistent with any other provision herein, or (ii) to add to the covenants and agreements of
the Company for the benefit of the Grantee or surrender any right or power reserved to or conferred
upon the Company in this Agreement, subject to any required approval of the Company’s stockholders
and, provided, in each case, that such changes will not adversely affect the rights of Grantee with
respect to the Award evidenced hereby, or (iii) to reform the Award made hereunder as contemplated
by Section 10.17 of the Plan or to exempt the Award made hereunder from coverage under Section
409A, or (iv) to make such other changes as the Company, upon advice of counsel, determines are
necessary or advisable because of the adoption or promulgation of, or change in or of the
interpretation of, any law or governmental rule or regulation, including any applicable federal or
state securities laws; and

          (b) subject to any required action by the Board or the stockholders of the Company, the
Restricted Share Units granted under this Agreement may be canceled by the Company and a new Award
made in substitution therefor, provided that the Award so substituted will satisfy all of the
requirements of the Plan as of the date such new Award is made and no such action will adversely
affect any Restricted Share Units that are then vested.

     16. Status as Director. Nothing contained in this Agreement, and no action of the Company or
the Board with respect hereto, will confer or be construed to confer on Grantee any right to
continue as a director of the Company or interfere in any way with the right of the
Company or its shareholders to terminate Grantee’s status as a director at any time, with or
without cause.

     17. Nonalienation of Benefits. Except as provided in Section 8 of this Agreement, (i) no
right or benefit under this Agreement will be subject to anticipation, alienation, sale,

6

 

assignment, hypothecation, pledge, exchange, transfer, encumbrance or charge, and any attempt to
anticipate, alienate, sell, assign, hypothecate, pledge, exchange, transfer, encumber or charge the
same will be void, and (ii) no right or benefit hereunder will in any manner be liable for or
subject to the debts, contracts, liabilities or torts of the Grantee or other person entitled to
such benefits.

     18. Governing Law. This Agreement will be governed by, and construed in accordance with, the
internal laws of the State of Colorado. Each party irrevocably submits to the general jurisdiction
of the state and federal courts located in the State of Colorado in any action to interpret or
enforce this Agreement and irrevocably waives any objection to jurisdiction that such party may
have based on inconvenience of forum.

     19. Construction. References in this Agreement to “this Agreement” and the words “herein,”
“hereof,” “hereunder” and similar terms include all Exhibits and Schedules appended hereto. This
Agreement is entered into, and the Award evidenced hereby is granted, pursuant to the Plan and
shall be governed by and construed in accordance with the Plan and the administrative
interpretations adopted by the Board thereunder. The word “include” and all variations thereof are
used in an illustrative sense and not in a limiting sense. All decisions of the Board upon
questions regarding this Agreement will be conclusive. Unless otherwise expressly stated herein,
in the event of any inconsistency between the terms of the Plan and this Agreement, the terms of
the Plan will control. The headings of the sections of this Agreement have been included for
convenience of reference only, are not to be considered a part hereof and will in no way modify or
restrict any of the terms or provisions hereof.

     20. Duplicate Originals. The Company and the Grantee may sign any number of copies of this
Agreement. Each signed copy will be an original, but all of them together represent the same
agreement.

     21. Rules by Board. The rights of the Grantee and the obligations of the Company hereunder
will be subject to such reasonable rules and regulations as the Board may adopt from time to time.

     22. Entire Agreement. This Agreement is in satisfaction of and in lieu of all prior
discussions and agreements, oral or written, between the Company and the Grantee regarding the
subject matter hereof. Grantee and the Company hereby declare and represent that no promise or
agreement not herein expressed has been made and that this Agreement contains the entire agreement
between the parties hereto with respect to the Award and replaces and makes null and void any prior
agreements between Grantee and the Company regarding the Award. This Agreement will be binding
upon and inure to the benefit of the parties and their respective heirs, successors and assigns.

     23. Grantee Acceptance. Grantee will signify acceptance of the terms and conditions of this
Agreement by signing a hard copy of this Agreement in the space provided below and returning a
signed copy to the Company.

7

 

Signature Block to Restricted Share Units Agreement

dated
as of
                                 , between Liberty Global, Inc. and Grantee

	 	 	 	 	 	 	 	 	 
	 	 	LIBERTY GLOBAL, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	Name: Elizabeth M. Markowski	 	 
	 	 	Title: Senior Vice President	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	ACCEPTED:	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	Grantee Name:	 	 	 	 
	 	 	Address:	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	Optionee ID:
 
	 	 

Grant No.                                         

Number of Restricted Share Units (LBTY__) awarded:                                         

8

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