Document:

Performance Stock Option Award between the Company and Michael R. Dougherty

 Exhibit 10.22 
 January 8, 2008 
 Michael R. Dougherty 
 Dear
Mike: 
 Pursuant to the terms and conditions of Adolor Corporation’s Amended and Restated 2003 Stock Based Compensation Plan (the ‘Plan’),
you have been granted a non-qualified stock Option to purchase up to 30,000 shares (the ‘Option’) of common stock as outlined below. 
  

			
	 Granted to:
	  	Michael R. Dougherty
	 Grant Date:
	  	January 4, 2008
	 Expiration Date:
	  	January 4, 2018
	 Options Granted:
	  	30,000 Non-Qualified Stock Options
	 Option Price per Share:
	  	$4.23

 This option is a “performance option” which will be “earned,” if at all, on the following
schedule, and will then be subject to a vesting schedule, also as set out below. 
 Assuming your continued employment, your Option will be earned, and
eligible to begin vesting, upon an Earned Date as follows: 
  

			
	 Earned
Date
	 	Portion of Award Eligible to Begin Vesting
	 On or before April 30, 2008
	 	30,000
	 After April 30, 2008, but on or before
June 30, 2008
	 	20,000
	 After June 30, but on or before August 31, 2008
	 	10,000
	 On or after
September 1, 2008
	 	None of your Award will begin to vest

 The term “Earned Date” is defined as the earlier of a. or b. below: 
 a. the date upon which the U.S. Food and Drug Administration approves a New Drug Application for alvimopan for use in postoperative ileus (an “NDA
Approval”); or 
 b. the vesting date determined under the Plan in the event that a Change in Control of the Company, as defined in the
Plan occurs. 
 Any portion of your Option that becomes eligible to vest, by reason of an NDA Approval as shown on the schedule above, shall then vest, and
become exercisable, assuming your continued 

 
employment by the Company, at the rate of one- thirty-sixth per month on each monthly anniversary of the relevant Earned Date. Any portion of your Option
that becomes eligible to vest by reason of a Change in Control will vest immediately in accordance with the terms of the Plan. 
 Any portion of your Option
that does not become eligible to vest on the schedule above will be cancelled immediately, without any action required by the Company, with no compensation due to you in respect of that portion of your Option. To illustrate, if an Earned Date occurs
on May 10, 2008, 20,000 of your Option will become eligible to vest. The other 10,000 will have been cancelled effective at the close of business on April 30, 2008. Should your employment with the Company or its Subsidiaries terminate for
any reason before your Award vests, your Award shall be forfeited immediately upon termination of your employment, with no compensation due to you in respect of that Award or its termination. 
 Sincerely, 
  
 Thomas P. Hess 
 Vice President of Finance, Chief Financial Officer 
  
 I hereby acknowledge receipt of the Stock Option granted on the date shown above, which has been
issued to me under the terms and conditions of the Plan and this Option Agreement. I also acknowledge receipt of copies of the Plan, its Summary Description and the Company’s latest annual report (SEC Form 10-K), and acknowledge and agree that
I am bound by the terms and conditions of the Plan and this Option Agreement with respect to my option. 
  

							
	 Signature:
	 	  
	  	Date	 	  

		 	 Michael R. DoughertyForm of Performance Deferred Stock Award

			
	 Form of Performance Deferred Stock Award
	  	Exhibit 10.29

 Date 
 Dear Employee:

 Adolor Corporation, a Delaware corporation (“Adolor”), hereby grants you an Award of Deferred Stock (the “Award”) under the Adolor
Corporation 2003 Amended and Restated Stock Based Incentive Compensation Plan (the “Plan”). Your Award consists of the right to receive, when that Award vests in accordance with the terms of this Award letter and the Plan,
[            ] shares of the common stock, par value $.0001 per share (the “Deferred Stock”) of Adolor Corporation, subject to required tax withholdings. 
 This Award is subject to the applicable terms and conditions of the Plan, which are incorporated herein by reference, and in the event of any contradiction, distinction
or difference between this letter and the terms of the Plan, the terms of the Plan will control. By accepting this Award, you also agree to be bound by the terms of the Plan and this Award Agreement. All capitalized terms used herein have the
meanings set forth herein or, if not defined herein, set forth in the Plan. 
 Assuming your continued employment, your Award will vest, and the Company or
its transfer agent will issue, or register, as applicable, stock certificate(s) in your name for the shares of the Company’s common stock underlying your Deferred Stock Award, again subject to required tax withholdings, upon a Vesting Date as
follows: 
  

			
	 Vesting Date
	  	 Portion of Award Vested

	 On or before date
	  	[    ]
		
	 After date, but on or before date
	  	[    ] Shares of your Awards will vest
		
	 After date but on or before date
	  	[    ] Shares of your Award will vest
		
	 On or after date
	  	None of your Award will vest

 The term “Vesting Date” is defined as the earlier of a. or b. below: 
 a. [describe performance e.g. the date upon which the U.S. Food and Drug Administration approves a New Drug Application for alvimopan for use in
postoperative ileus (an “FDA Approval”)]; or 
 b. the vesting date determined under the Plan in the event that a Change in Control
of the Company, as defined in the Plan occurs. 

 Any portion of your Award that does not vest on the schedule above will be cancelled, without any action required by the
Company, immediately with no compensation due to you in respect of that portion of your Award. To illustrate, if a Vesting Date occurs on date, [            ] shares of your Award will
vest. The other [            ] shares of your Award will have been cancelled effective at the close of business on date. 
 Should your employment with the Company or its Subsidiaries terminate for any reason before your Award vests, your Award shall be forfeited immediately upon termination of your employment, with no compensation due to
you in respect of that Award or its termination. 
 When your Award vests, you must make appropriate arrangements with the Company concerning withholding of
any taxes that may be due. Those arrangements, at your election, may be made by: 
 a. tendering cash payment to the Company in an amount
equal to the required withholding; or 
 b. requesting that the Company withhold from the number of shares otherwise deliverable to you that
number of shares, the fair market value of which equals, or exceeds by no more than the fractional value of one share, the income and payroll taxes that the Company is required to withhold with respect to your Award or its vesting. Although we do
not expect any such result, if the Company should be legally precluded, as determined by the Company in its reasonable judgment, from withholding taxes by netting your award, only the payment option described in subparagraph a. immediately above
will be available. 
 As soon as practicable after the withholding requirements are satisfied the shares underlying your Award, or if you elected option b.
above, the remaining shares, and cash equal to any fractional share, will be delivered to you, or registered in your name, as applicable, by the Company or its transfer agent. 
 The Company may impose any conditions on the Award that it deems necessary or advisable to ensure that all rights granted under the Plan satisfy the requirements of applicable securities laws. The Company shall not be
obligated to issue or deliver any shares of its common stock upon vesting of your Award if such action violates any provision of any law or regulation of any governmental authority or national securities exchange. 
 The Committee administering the Plan may amend the terms of this Award to the extent it deems appropriate to carry out the terms of the Plan. The construction and
interpretation of any provision of this Award or the Plan shall be final and conclusive when made by the Committee. 
  

 Nothing in this letter shall confer on you the right to continue in the service of the Company or its Subsidiaries or
interfere in any way with the right of the Company or its Subsidiaries to terminate your service at any time, which rights shall be subject to the terms and conditions of any applicable employment agreement or other contractual relationship between
you and the Company. Please confirm your agreement with the foregoing by signing and returning a copy of this letter to Thomas P. Hess, Vice President, Finance and Chief Financial Officer. Your signature will also acknowledge that you have received
and reviewed the Plan and that you agree to be bound by the applicable terms of the Plan. 
  

			
	Very truly yours,
	
	ADOLOR CORPORATION.
		
	By:	 	  

	Name:	 	Thomas P. Hess
	Title:	 	Vice President, Finance and Chief Financial Officer
	
	ACKNOWLEDGED AND ACCEPTED
	
	  

		
	Dated:	 	  

  

			
	Enclosures	  	Adolor Corporation 2003 Amended and Restated Stock-Based Incentive Compensation Plan; Summary of the Adolor Corporation 2003 Amended and Restated Stock-Based Incentive Compensation Plan;
Adolor Corporation Form 10-K For Fiscal Year Ended December 31, 2006Ron Pitcock Independent Contractor Agreement

 Exhibit 10.19 
 

 
 August 20, 2007 
 Ron Pitcock

 7654 Spirit Ranch Road 
 Golden, Colorado 80403 
  

	Re:	Independent Contractor Agreement 

 Dear Ron: 
 This letter agreement (the “Agreement”) will serve to confirm our prior conversations and negotiations concerning the parameters attendant upon your engagement
as an independent contractor by IPtimize, Inc., a Minnesota corporation with offices at 2135 S. Cherry St., Suite 200, Denver, CO. 80222 (the “Company”). In this regard, and in consideration of the mutual benefit derived herefrom, the
receipt and adequacy of which is hereby jointly and severally acknowledged and accepted, we agree as follows: 
 1. Engagement.
The Company hereby engages and retains you and you hereby agree to act as an independent contractor for and on behalf of the Company to perform the Services as that term is defined in Section 2 below. As indicated in Section 5, you shall
not be required to devote any designated number of hours to the performance of the Services during the Term (as that term is defined in Section 2 below). 
 2. The Services. During the period commencing upon the execution of this Agreement and termination on the earlier of: (i) December 31, 2007; or (ii) the Company’s closing of gas money and
permanent financing in the sum of $4,000,000 and the full payment of the Company’s delinquent Federal Withholding Tax obligation with the Internal Revenue Service (the “Term”), you shall advise, aid and assist the Company and such of
its executive officers and/or others as shall be communicated to you by Clinton J. Wilson, the Company’s President and or the Company’s Board of Directors, in connection with the conduct of the Company’s day to day affairs as well as
to supervise and direct the Company’s strategic planning, preparation, organization, implementation, management and operation of the Company’s overall business strategy and plan. The foregoing is hereinafter collectively referred to as the
“Services”. 
 3. Independent Contractor. In your performance of the Services you shall be and be deemed to be an
independent contractor and not an employee, or executive officer of the Company. You shall be in exclusive charge and control of your performance of the Services and shall not be subject to the control or supervision of the Company except as to the
results of the Services. You acknowledge and accept that nothing in this Agreement shall be construed to require you to perform the Services at any specific time, or in any specific place or manner. Payments to you hereunder shall not be subject to
withholding taxes or other employment taxes as required with respect to compensation paid to an employee. 
 4. No Breach of
Obligation. You represent and warrant that you are ready, willing and able to timely perform the Services. You also represent that your entry into this Agreement does not constitute a breach of any agreement with any other person, firm or
corporation containing any restriction or impediment on your ability to perform the Services. 
 5. Termination. This Agreement shall
commence on the day it is signed and shall be terminable by either party on 60 days prior written notice. 
 6. Non-Exclusivity. You
agree that during the Term, you will impart and devote such time and attention to the Project as shall be necessary to complete the same before the end of the Term. 
 7. Compensation. In consideration of your performance of the Services, the Company shall accrue on your behalf fee of $10,000 per month commencing retroactively to April 1, 2007, the date you commenced
acting as a consultant without the benefit of a written agreement; and shall grant to you the exclusive right and option (the “Option”) to purchase an aggregate of 3,220,000 pre reverse split shares of the Company’s Common Stock, no
par value per share (the “Option Shares”), at an exercise price of $.08 per Option Share, the fair market 

 
value of the Option Shares as of the date of this Agreement. The terms and condition of the Option shall be as set forth in a separate Option Agreement
between you and the Company dated August 20, 2007. In addition, the Company shall reimburse you for any and all reasonable out of pocket disbursements incurred by you on the Company’s behalf on an accountable basis. You agree to seek
pre-approval for all disbursements in excess of $100. Commencing on January 1, 2008, the Company shall accrue your monthly consulting fee at the rate of $12,500. 
 8. Representations. You represent to the Company that you are not presently actively engaged in any business, employment or venture which is or may be in conflict with the business of the Company; you
have the full power and authority to enter this Agreement and to otherwise perform the same in the time and manner contemplated; and your compliance with the terms and conditions of this Agreement will not conflict with, result in a breach of, or
constitute a default under any agreement to which you are a party. In turn, the Company represents to you that the Company has full power, right and authority to execute and perform this Agreement in the time and manner contemplated and all
corporate action required to be taken by the Company to authorize and execute this Agreement has been taken prior to the delivery hereof; the Company is a corporation duly organized, validly existing and in good standing under the laws of the State
of Minnesota with full power and authority to conduct its business; and the person executing this Agreement on behalf of the Company has been duly authorized to execute this Agreement. 
 9. Confidentiality. In the course of your engagement by the Company you will be exposed and have access to certain confidential business,
management, information, data, knowledge, and documentation including but not limited to the Company’s business model concepts and descriptions; the identity of customers, consultants and suppliers; product ideas and refinements of existing
products; and marketing plans and strategies which are designated as “Confidential,” “Proprietary” or some similar designation (collectively the “Confidential Material”). Accordingly, and in consideration of the
Company’s engagement of you as an independent research contractor, you acknowledge the confidential and proprietary nature of the Confidential Material and hereby covenant and agree to hold and keep the same confidential as provided in this
letter agreement. Your confidentiality commitment shall include taking all reasonable steps to safeguard the confidentiality of the Confidential Material and not to disclose any part of it to any third person, whether individual, firm or entity
without the prior express written consent of the Company. Furthermore, you agree at the end of your engagement by the Company to return all copies of the Confidential Material, in any form whatsoever (including any notes, reports, transmittal
letters or other writings prepared by or for the Company and any of its employees, representatives, consultants or associates, or at its direction. 
 10. Entire Agreement. We hereby agree that this Agreement is intended to and does contain and embody all of our understandings and agreements, both written and oral, respect to the subject matter of this Agreement. There are no
representations, warranties or covenants other than those set forth in this Agreement. 
 11. Miscellaneous. (a) All notices that
are required to be or may be sent pursuant to the provision of this Agreement shall be sent by priority overnight package delivery service, and shall count from the date of mailing or the day after the date of the air bill. (b) A modification
or waiver of any of the provisions of this Agreement shall be effective only if made in writing and executed with the same formality as this Agreement. (c) This Agreement shall not be amended or assigned without the prior written consent of
both of us. (d) Colorado law shall be applicable. 
 If you are in agreement with the foregoing, please sign and return one copy of this Agreement which
will constitute our agreement with respect to the Services. 
  

			
	Sincerely,
	
	IPtimize, Inc.
		
	By:	 	/s/Clinton J. Wilson
		 	Clinton J. Wilson, President
	
	AGREED TO AND ACCEPTED:
		
		 	/s/ Ron Pitcock
		 	Ron Pitcock

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