Document:

EXHIBIT 10.26

 Exhibit 10.26 
 CONSULTING AGREEMENT 
 THIS CONSULTING
AGREEMENT (“Agreement”) is made effective as of the 1st day of January, 2008, by and between FEDERAL REALTY INVESTMENT TRUST
(the “Trust”) and LARRY E. FINGER (“Consultant”). 
 RECITALS 
 The Trust desires to engage Consultant to serve as a consultant to the Trust and Consultant desires to so serve as a consultant to the Trust. 

NOW THEREFORE, in consideration of the covenants set forth herein and other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the Trust and Consultant hereby agree as follows: 
 1.    Appointment as
Independent Consultant. The Trust agrees to engage Consultant as an independent consultant, for the purposes set forth in Section 3 of this Agreement. The parties acknowledge and agree that nothing in this Agreement shall
constitute or be construed as constituting, creating or extending an agency, partnership, master-servant or employer-employee relationship between the Trust and Consultant for the period covered by this Agreement. Consultant acknowledges that he
will not be authorized to bind the Trust during the Term of this Agreement and hereby agrees that he will not hold himself out to third parties during the Term of this Agreement as having the authority to bind the Trust. 
 2.    Term. Unless earlier terminated as provided in Section 6, the term of this Agreement shall commence
on January 1, 2008, and shall continue through and including February 29, 2008 (“Term”). Consultant shall return to the Trust any and all records, reports, documents and other materials relating to the Services that are in his
possession or control, by overnight courier within twenty-four (24) hours after the first to occur of: (a) a request by the Trust; or (b) March 1, 2008. The Trust shall promptly reimburse Consultant for actual charges incurred to
deliver such materials. 
 3.    Services by Consultant. During the term of this Agreement, Consultant
shall provide support for the accounting, capital markets and asset management functions at the Trust. Consultant shall also perform such services as may be assigned to him from time to time by Donald C. Wood, the Trust’s Chief Executive
Officer, or Joseph M. Squeri, the Trust’s Chief Financial Officer as of January 1, 2008, or any other individual designated by the Trust’s Chief Executive Officer (“Services”). Consultant shall devote such time as he and the
Trust’s Chief Executive Officer deem reasonably necessary for Consultant to perform the Services consistent with the compensation being paid. 
 4.    Payments/Support Services. 
 (a)    Consulting Fee. The Trust
agrees to pay Consultant a consulting fee (“Consulting Fee”) equal to the sum of: (i) a weekly fee in the amount of Six Thousand Seven Hundred Thirty and 77/100 Dollars ($6,730.77) (“Base Fee”). In no event shall the
total Base Fee for the nine (9) week term of this Agreement exceed Sixty Thousand Five Hundred Seventy-Six and 92/100 Dollars ($60,576.92); plus (ii) an amount equal to the FICA taxes that would have been paid by the Trust
on the Base Fee if Consultant had been an employee of the Trust for the period covered by this Agreement. The Trust shall pay the Consulting Fee to Consultant on a bi-weekly basis. 
 (b)    Support Services. During the Term of this Agreement, the Trust will provide Consultant with his current office space in
the Trust’s Rockville, Maryland office, as well as the same administrative support 

 
(which may be shared), computer services (with a connection to the Trust’s network), a phone, fax, blackberry and other items and services that
Consultant had available to him prior to January 1, 2008 and which the Trust deems necessary to enable Consultant to perform the Services. The Trust will reimburse Consultant or pay directly in accordance with the Trust’s Travel and
Entertainment Policy, all reasonable costs and expenses necessary in connection with the performance of the Services hereunder, such as out of town travel and related expenses. For all air travel, Consultant shall be permitted to travel First Class
and the Trust will reimburse for the amounts of such travel. 
 (c)    Change in Control Payment. In the event
there occurs a Change in Control (defined below) during the term of this Agreement, the Trust shall pay to Consultant the amount Consultant would have been entitled to receive if Consultant were still the executive Vice president-Chief Financial
Officer and Treasurer of the Trust upon a Change in Control pursuant to that certain Severance Agreement dated as of March 1, 2002 between the Trust and Consultant, as amended (“Severance Agreement”), the provisions of which are
incorporated herein by reference. For purposes of this Agreement, “Change in Control” shall have the meaning set forth in the Severance Agreement. 
 5.    Confidentiality and Nondisclosure/Ownership of Intellectual Property. Consultant hereby acknowledges and agrees that he will keep the Trust’s records and information
confidential on the same terms and conditions as set forth in the confidentiality agreement dated March 1, 2002 (“Confidentiality Agreement”). The terms and conditions of the Confidentiality Agreement are incorporated herein in their
entirety by reference. 
 6.    Termination. Either the Trust or Consultant may terminate this Agreement
for any reason or no reason on ten (10) business days prior written notice. Upon any such termination, the Trust shall pay to Consultant the Consulting Fee due and owing through the effective date of termination together with the Non-Compete
Payment (defined below). 
 7.    Non-Compete/Non-Solicitation. 
 (a)    Payment and Term. Consultant hereby agrees to be bound by and comply with the non-compete and non-solicitation
provisions set forth in this Paragraph 7 for the period from January 1, 2008 through and including February 28, 2011 (“Non-Compete Term”). In consideration for Consultant’s agreement to be bound by and comply
with the provisions of this Paragraph 7 during the Non-Compete Term, the Trust shall pay to Consultant on or before February 29, 2008 a cash payment in the amount of Once Hundred Thousand Dollars ($100,000) (“Non-Compete
Payment”). 
 (b)    Non-Compete Terms and Provisions. 
 (i)    Consultant agrees to comply with the following limitations and restrictions during the Non-Compete Term: 

(A) Consultant shall not, without the prior written consent of the Trust, for himself or on behalf of or in conjunction with any other person,
persons, company, firm, partnership, corporation, business, group or other entity (each, a “Person”), work on or participate in the acquisition, leasing, financing, pre-development or development of any project or property which was
considered and actively pursued by the Trust or its affiliates for acquisition, leasing, financing, pre-development or development during the term of this Agreement. 
 (B)    Consultant shall not, without the prior written consent of the Trust, serve as an employee of, consultant to or serve on the Board of Directors or similar body of, any company that
satisfies either of the following criteria (“Peer Group Company”): (A) any public shopping center company that is considered by the Trust from time to time to be a competitive business; or (B) any private real estate company

  

 2 

 
that would be considered from time to time to be a competitive business if it were a public company. The foregoing shall not prohibit Consultant from serving
as an employee of, consultant to, or serving on the Board of Directors or similar body of, any company that does not qualify as a Peer Group Company. Notwithstanding the foregoing, Consultant acknowledges that companies that may be considered a Peer
Group Company of the Trust may change from time to time and that if during the term of this Agreement Consultant serves as an employee of, consultant to, or serves on the Board of Directors or similar body of, a company that becomes a Peer Group
Company at any time during the Non-Compete Term, Consultant shall be required immediately to resign as an employee of or consultant to such company and from the Board of Directors or similar body of such company. As of the date of this Agreement,
the public company Peer Group Companies of the Trust are Developers Diversified Realty Corporation, Equity One, Inc., Kimco Realty Corporation, Regency Centers Corporation and Weingarten Realty Investors. 
 (C)    Consultant shall not, for any reason whatsoever, directly or indirectly, for himself or on behalf of or in conjunction
with any other Person: 
 (1)    so that the Trust may maintain an uninterrupted workforce, solicit and/or hire
any person who is at the time of termination of this Agreement, or has been within six (6) months prior to the time of termination of this Agreement an employee of the Trust or its affiliates, for the purpose or with the intent of enticing such
employee away from or out of the employ of the Trust or its affiliates, provided that you shall be permitted to call upon and hire any member of your immediate family; 
 (2) in order to protect the confidential information and proprietary rights of the Trust, solicit, induce or attempt to induce any Person who or that is, at the time of termination of this Agreement, or has
been within six (6) months prior to the time of termination of this Agreement, an actual customer, client, business partner, property owner, developer or tenant or a prospective customer, client, business partner, property owner, developer or
tenant (i.e., a customer, client, business partner, property owner, developer or tenant who is party to a written proposal or letter of intent with the Trust, in each case written less than six (6) months prior to termination of this
Agreement) of the Trust, for the purpose or with the intent of (a) inducing or attempting to induce such Person to cease doing business with the Trust or its affiliates, or (b) in any way interfering with the relationship between such
Person and the Trust or its affiliates; or 
 (3) solicit, induce or attempt to induce any Person who is or that is, at the time of
termination of this Agreement, or has been within six (6) months prior to the time of termination of this Agreement, a tenant, supplier, licensee or consultant of, or provider of goods or services to the Trust or its affiliates, for the purpose
or with the intent of (a) inducing or attempting to induce such Person to cease doing business with the Trust or its affiliates or (b) in any way interfering with the relationship between such Person and the Trust or its affiliates.

 (ii) If Consultant breaches the terms of this Paragraph 7 during the Non-Complete Term then, in additional to all
other rights and remedies available to the Trust under this Agreement, at law or in equity, Consultant shall be liable to return to the Trust the amount of the Non-Compete Payment. In addition, because of the difficulty of measuring economic losses
to the Trust as a result of a breach of the provisions of Section 7(a), and because of the immediate and irreparable damage that could be caused to the Trust for which it would have no other adequate remedy, Consultant agrees that the
provisions of Section 7(a), in addition to and not in limitation of any other rights, remedies or damages available to the Trust at law, in equity or under this Agreement, may be enforced by the Trust in the event of the breach or
threatened breach by Consultant, by injunctions and/or restraining orders. If the Trust is involved in court or other legal proceedings to enforce the covenants contained in this Section 7, then in the event the Trust prevails in such
proceedings, Consultant shall be liable for the payment of reasonable attorneys’ fees, costs and ancillary expenses incurred by the Trust in enforcing its rights hereunder. 
  

 3 

 (iii)    It is agreed by the parties that the covenants contained in this
Section 7(a) impose a fair and reasonable restraint on you in light of the activities and business of the Trust on the date of the execution of this Agreement and the current plans of the Trust; but it is also the intent of the Trust and
you that such covenants be construed and enforced in accordance with the changing activities, business and locations of the Trust and its affiliates throughout the term of these covenants. 
 (iv)      It is further agreed by the parties hereto that, in the event that Consultant enters into a business or
pursues other activities that, at such time, are not in competition with the Trust or its affiliates or with any business or activity which the Trust or its affiliates contemplated pursuing, as of the date of termination of the Non-Compete Term, or
similar activities or business in locations the operation of which, under such circumstances, does not violate this Section 7 or any of your obligations under this Section 7, you shall not be chargeable with a violation of
this Section 7 if the Trust or its affiliates subsequently enter the same (or a similar) competitive business, course of activities or location, as applicable. 
 (v)       The covenants in this Section 7 are severable and separate, and the unenforceability of
any specific covenant shall not affect the provisions of any other covenant. Moreover, in the event any court of competent jurisdiction shall determine that the scope, time or territorial restrictions set forth herein are unreasonable, then it is
the intention of the parties that such restrictions be enforced to the fullest extent that such court deems reasonable, and the Agreement shall thereby be reformed to reflect the same. 
 (vi)      All of the covenants in this Section 7 shall be construed as an agreement independent of any
other provision in this Agreement, and the existence of any claim or cause of action by Consultant against the Trust whether predicated on this Agreement or otherwise shall not constitute a defense to the enforcement by the Trust of such covenants.

 (vii)     Notwithstanding any of the foregoing, if any applicable law, judicial ruling or order shall
reduce the time period during which Consultant shall be prohibited from engaging in any competitive activity described in Section 7 hereof, the period of time for which Consultant shall be prohibited pursuant to Section 7
hereof shall be the maximum time permitted by law. 
 (viii)    The terms of this Section 7 shall
survive the expiration or earlier termination of this Agreement for the duration of the Non-Compete Term. 
 8.    Miscellaneous. 
 (a)    Assignment/Successors. Neither this
Agreement nor any right, remedy, obligation or liability arising hereunder or by reason hereof shall be assignable by either the Trust or Consultant without the prior written consent of the other party; provided, however, that this
provision shall not preclude Consultant from designating one or more beneficiaries to receive any amount that may be payable after Consultant’s death and shall not preclude Consultant’s executor or administrator from assigning any right
hereunder to the person or persons entitled thereto. This Agreement shall not be terminated either by the voluntary or involuntary dissolution or the winding up of the affairs of the Trust, or by any merger or consolidation wherein the Trust is not
the surviving entity, or by any transfer of all or substantially all of the Trust’s assets on a consolidated basis. In the event of any such merger, consolidation or transfer of assets, the provisions of this Agreement shall be binding upon and
shall inure to the benefit of the surviving entity or to the entity to which such assets shall be transferred. 
 (b)    Amendment. This Agreement may be terminated, amended, modified or supplemented only by a written instrument executed by the Trust and Consultant. 
  

 4 

 (c)    Waiver. Either party hereto may by written notice to the other:
(i) extend the time for performance of any of the obligations or other actions of the other party under this Agreement; (ii) waive compliance with any of the conditions or covenants of the other party contained in this Agreement; or
(iii) waive or modify performance of any of the obligations of the other party under this Agreement. Except as provided in the preceding sentence, no action taken pursuant to this Agreement shall be deemed to constitute a waiver by the party
taking such action of compliance with any representations, warranties, covenants or agreements contained herein. The waiver by any party hereto of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any
preceding or succeeding breach. No failure by either party to exercise any right or privilege hereunder shall be deemed a waiver of such party’s rights to exercise the same any subsequent time or times hereunder. Failure to insist upon strict
compliance with any provision of this Agreement shall not be deemed a waiver of such provision or of any other provision of this Agreement. 
 (d)    Severability. In case any one or more of the provisions of this Agreement shall, for any reason, be held or found to be invalid, illegal or unenforceable in any respect: (i) such invalidity, illegality
or unenforceability shall not affect any other provisions of this Agreement; (ii) this Agreement shall be construed as if such invalid, illegal or unenforceable provision had never been contained herein; and (iii) if the effect of a
holding or finding that any such provision is either invalid, illegal or unenforceable is to modify to Consultant’s detriment, reduce or eliminate any compensation, reimbursement, payment, allowance or other benefit to Consultant intended by
the Trust and Consultant in entering into this Agreement, the Trust shall promptly negotiate and enter into an agreement with Consultant containing alternative provisions (reasonably acceptable to Consultant), that will restore to Consultant (to the
extent legally permissible) substantially the same economic, substantive and income tax benefits Consultant would have enjoyed had any such provision of this Agreement been upheld as legal, valid and enforceable. 
 (e)    Governing Law. This Agreement has been executed and delivered in the State of Maryland and its validity,
interpretation, performance and enforcement shall be governed by the laws of the State of Maryland, excluding conflicts of law principles. 
 (f)    No Attachment. Except as required by law, no right to receive payments under this Agreement shall be subject to anticipation, commutation, alienation, sale, assignment, encumbrance, charge, pledge, or
hypothecation or the execution, attachment, levy, or similar process or assignment by operation of law, and any attempt, voluntary or involuntary, to effect any such action shall be null, void and of no effect. 
 (g)    Source of Payments. All payments provided under this Agreement shall be paid in cash from the general funds of the
Trust, and no special or separate fund shall be established and no other segregation of assets shall be made to assure payment. 
 (h)    Headings. The section and other headings contained in this Agreement are for reference purposes only and shall not affect the meaning or interpretation of this Agreement. 
 (i)    Notices. Any notice required or permitted to be given under this Agreement shall be in writing and shall be deemed to
have been given when delivered in person, when delivered by a reputable overnight delivery service or when deposited in the U.S. mail, registered or certified, postage prepaid, and mailed to Consultant’s addresses set forth herein and the
business address of the Trust, unless a party changes its address for receiving notices by giving notice in accordance with this Section, in which case, to the address specified in such notice. 
 (j)    Counterparts. This Agreement may be executed in multiple counterparts with the same effect as if each of the signing
parties had signed the same document. All counterparts shall be construed together and constitute the same instrument. 
  

 5 

 (k)    Entire Agreement. This Agreement contains the entire agreement among
the parties with respect to the subject matter hereof. 
 IN WITNESS WHEREOF, the parties have executed and delivered this Agreement
to be effective as of the day and year first above written. 
  

	
	
	/s/ Larry E. Finger
	 Larry E. Finger

	
	 Consultant’s Permanent Address:
 1490 Lily Loch Way
 Great Falls, Virginia 22066

			
	
	FEDERAL REALTY INVESTMENT TRUST
		
	 By:
	 	/s/ Donald C. Wood
		 	 Donald C. Wood
 President and Chief Executive Officer
 Address:  1626 East Jefferson Street
                   Rockville, Maryland
20852

  

 6Offer Letter

 EXHIBIT 10.1 
  

					
	

	  	 2850 Telegraph Avenue, Suite #310
 Berkeley, CA 94705

	  	 (510) 281-7700 Tel.
 (510) 288-1310
Fax

 22 February 2008 
 Hsiao D. Lieu, M.D., F.A.C.C. 
 2415 Hale Drive 
 Burlingame, CA 94010 
  

	Re:	Offer of Employment 

 Dear Hsiao: 
 On behalf of Nile Therapeutics, Inc. (the “Company”), I am pleased to confirm our verbal offer of employment to you for the position of Vice
President, Clinical Research starting on March 10, 2008, on an at-will basis. You shall have such powers and perform such duties as are customarily performed by a Vice President, Clinical Research, and you shall report directly to Peter
Strumph, Chief Executive Officer. 
 You will be paid an annual base salary of $250,000, which will be paid in accordance with the
Company’s normal payroll procedures. In addition, you will be eligible to participate in various Company fringe benefit plans made available to the Company’s employees, including the Company’s medical and dental disability insurance
and vacation programs. You will be entitled to 15 business days of vacation per year. The Company will reimburse you for all normal, usual and necessary expenses incurred in furtherance of the business and affairs of the Company, including
reasonable travel and entertainment, upon timely receipt by the Company of appropriate vouchers or other proof of your expenditures and otherwise in accordance with any expense reimbursement policy as may from time to time be adopted by the Company.

 Subject to the approval of the Company’s Board of Directors (the “Board”), you will be granted within 30 days after the
start of your employment an option to purchase 200,000 shares of the Company’s common stock under the Company’s 2005 Stock Option Plan, as amended to date (the “Plan”), at an exercise price per share equal to the fair market
value of a share of our common stock on the grant date as determined by the Board. Shares subject to this option will vest over a period of four years, subject to your continued service to the Company, with one-fourth (1/4th) of the shares
vesting after one year and the remaining shares vesting in thirty six (36) equal monthly installments thereafter (the “Employment Options”). 
 Subject to the approval of the Board, you will also be granted within 30 days after the start of your employment a performance-based stock option (the “Initial Performance Options”) to purchase up to 100,000
shares of the Company’s common stock under the Plan at an exercise price per share equal to the fair market value of a share of our common stock on the grant date as determined by the Board. Subject to your continued service to the Company,
shares subject to this option will vest in an amount equal to up to 25,000 shares per year, or a prorated portion thereof for periods wherein you are employed for less than one year, upon the certification by the Board or Compensation Committee
thereof of the achievement of certain annual corporate and individual milestones for a specified year (the “Performance Milestones”), which are determined and may be modified by the Board or Compensation Committee; provided, that, the
option on any of such 25,000 shares that could have vested in a year, or a prorated portion thereof for periods wherein you are employed for less than one year, which remain unvested following such a Board or Compensation Committee determination,
shall immediately terminate with respect to any then unvested shares. 
  

  

			
		  	Page 1

 In the event that Nile acquires by license, acquisition or otherwise, an additional product for
development that is first identified by you, then, subject to the approval of the Board, Nile shall grant to you options (the “Technology Options”) to purchase a number of shares of Common Stock as follows: 
 50,000 shares of Common Stock of the Company for a product that is in pre-clinical development; and 
 75,000 shares of Common Stock of the Company for a product that is in human clinical trials. 
 The Technology Options shall have an exercise price equal to the fair market value of Nile’s Common Stock as of the date of the granting of the
Technology Options, shall be immediately and fully vested and shall be exercisable for a period of five (5) years, subject to your continued service to the Company. 
 All options referred to in this letter will be subject to the terms and conditions of the Plan and our standard form of stock option agreement, which you will be required to sign as a condition of receiving the
option. 
 You will also be entitled to receive an annual bonus of up to 30% of your annual base salary, based upon the successful
accomplishment of individual and corporate performance goals to be set annually by the Company’s Compensation Committee, less applicable withholdings, payable in accordance with the Company’s normal and customary payroll procedures. Any
performance bonus shall be payable on the date determined by the Compensation Committee. 
 On the commencement of your employment, you will
receive a one-time signing bonus equal to Forty Two Thousand Dollars ($42,000), less payroll deductions and all required withholdings. 
 Immediately following a Change in Control (as defined below), all Employment Options and any subsequently granted options that vest over a period of time, and not based on performance, shall immediately vest and shall become exercisable
immediately and shall remain exercisable for a period equal to the lesser of five (5) years from the date of the Change of Control event or ten (10) years from the date of grant of such options; provided, that, for the avoidance of doubt,
the Performance Options and any subsequently granted options that vest based on certain corporate and individual milestones shall not immediately vest based upon the Change of Control. 
 If within the twelve (12) month period following a Change in Control (as defined below), you experience a Covered Termination or a Constructive
Termination, and if, within sixty (60) days of such Covered Termination or Constructive Termination, you execute and do not revoke during any applicable revocation period a general release of all claims against the Company and its affiliates in
a form acceptable to the Company, then, as a severance benefit, you shall be entitled to (i) six (6) months of your base salary then in effect, less applicable withholdings, payable in full within thirty (30) days of your last day of
employment (such six (6) months of your base salary to be paid in connection with a Change in Control even if the Change in Control constitutes a Low Valuation Transaction (as defined below)), (ii) immediate vesting of all Performance
Options (including the Initial Performance Options and any subsequently granted performance-based stock options), to the extent that the shares subject to such options have not been terminated or forfeited pursuant to the option agreements, which
shall become exercisable immediately and shall remain exercisable for a period equal to the lesser of five (5) years from the date of your Covered Termination or Constructive Termination or ten (10) years from the date of grant of such
Performance Options, and (iii) a prorated portion of your maximum annual bonus determined by calculating the number of days that have elapsed from the beginning of the year of your Covered Termination or Constructive Termination to the date of
your Covered Termination or Constructive Termination, less applicable withholdings, payable in full within thirty (30) days of your last day of employment. You understand and agree that, other than as required under applicable law, you shall
not be entitled to any other 

  

			
		  	Page 2

 
severance pay, severance benefits, or any other compensation or benefits other than as set forth in this letter in the event of such a termination. In the
event that you have a legal right to pay in lieu of termination notice, or to severance pay, the severance pay set forth herein shall be reduced by the amount of such legally required payments. 
 For purposes of clarity, if following a Change of Control your employment is terminated by the Company for Cause, or if you voluntarily terminate your
employment with the Company, you shall not be entitled to any severance pay, severance benefits, or any compensation or benefits from the Company whatsoever, other than as required under applicable law. 
 For purposes of this letter, the term “Cause” means the occurrence by you of any one or more of the following events: (i) gross negligence
or willful misconduct in the performance of your duties to the Company; (ii) repeated unexplained or unjustified absence from the Company; (iii) a material and willful violation of any federal or state law; (iv) commission of any act
of fraud with respect to the Company; (v) conviction of a felony or a crime involving moral turpitude causing material harm to the standing and reputation of the Company; or (vi) a material failure to perform your duties or to follow the
instructions of the Chief Executive Officer, in each case as determined in good faith by the Chief Executive Officer. 
 For purposes of this
letter, a “Change in Control” shall mean: (i) a transaction or series of transactions (other than an offering of the Company’s stock to the general public through a registration statement filed with the Securities and Exchange
Commission) whereby any “person” or related “group” of “persons” (as such terms are used in Sections 13(d) and 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (other than the
Company, any of its subsidiaries, an employee benefit plan maintained by the Company or any of its subsidiaries or a “person” that, prior to such transaction, directly or indirectly controls, is controlled by, or is under common control
with, the Company) directly or indirectly acquires beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act) of securities of the Company possessing more than 50% of the total combined voting power of the Company’s
securities outstanding immediately after such acquisition. Notwithstanding the foregoing, no transaction shall be considered a Change of Control for the purposes of this letter: (A) if the stockholders existing prior to such transaction(s) hold
in the aggregate more than fifty percent (50%) of the securities or assets of the surviving or resulting company; (B) in connection with a private placement of equity securities of the Company in connection with a financing of the
Company’s on-going operations; or (C) for any transaction ascribing a valuation to the Company of less than One Hundred Twenty Five Million Dollars ($125,000,000) (a “Low Valuation Transaction”); provided, however, that such a
transaction may be considered as part of a series of transactions that gives rise to a Change of Control pursuant to the terms of this letter. 
 For purposes of this letter, the term “Constructive Termination” means your resignation which constitutes a “separation from service” within the meaning of Section 409A of the Internal Revenue Code of 1986, as
amended (the “Code”) and the Department of Treasury regulations and other guidance promulgated thereunder within ninety (90) days of the first to occur of one or more of the following events which remains uncured thirty (30) days
after your delivery of written notice thereof: (A) any change in your position with the Company that diminishes in any material respect the duties and responsibilities of your position as in effect immediately preceding such action; provided,
however, that a reduction in duties, level of responsibilities or the requirements of your position solely by virtue of the Company being acquired and made part of a larger entity shall not by itself constitute grounds for a Constructive
Termination; (B) any material reduction by the Company in your base salary or in the percentage of your annual bonus opportunity as a percentage of your base salary; or (C) the Company’s relocation of your principal office to a place
more than a material distance from the Company’s present headquarters (except that required travel on the Company’s business to an extent substantially consistent with your present business travel obligations shall not be considered a
relocation). 
  

			
		  	Page 3

 For the purposes of this letter, the term “Covered Termination” means the termination of your
employment with the Company effected by the Company other than for Cause, which constitutes a “separation from service” within the meaning of Section 409A of the Code and the Department of Treasury regulations and other guidance
promulgated thereunder. 
 While we look forward to an extended and mutually rewarding association, and notwithstanding any of the above,
your employment with the Company is “at will.” This means that you are free to terminate your employment at any time and for any reason and that the Company can terminate your employment at any time and for any reason that is not illegal
under state or federal law, without any continued obligations to you other than to pay you all accrued but unpaid base salary, performance bonus and expense reimbursement through the date of termination. This policy can be changed only by a written
contract signed by the President or Chief Executive Officer of the Company. No oral commitments to you regarding your employment are valid, whether made now or in the future. 
 For purposes of federal immigration law, you will be required to provide the Company with documentary evidence of your identity and eligibility for
employment in the United States. That documentation must be provided to the Company within three business days of your date of hire, or our employment relationship with you may be terminated. You will also be required to sign our standard
confidential information and invention assignment agreement (“Inventions Agreement”) upon the start of your employment. 
 In the
event of any dispute or claim relating to or arising out of our employment relationship or this letter agreement (including, but limited to, any claims of breach of contract, wrongful termination or age, sex, race or other discrimination or
harassment under any state or federal statute or common law), you and the Company agree that all such disputes shall be fully and finally resolved by binding arbitration conducted by the American Arbitration Association (“AAA”) in San
Francisco County, California in accordance with the then existing AAA arbitration rules. Either of us, however, may obtain injunctive relief in court to prevent irreparable harm pending the conclusion of any such arbitration. The Company will pay
any fees charged by an arbitrator to hear this matter. 
 Please sign and date this letter on the spaces provided below to acknowledge your
acceptance of the terms of this agreement and return the original to Peter Strumph by February 23, 2008, after which time this offer will expire. This letter agreement, and the Inventions Agreement referred to above, constitute the entire
agreement between you and the Company regarding the terms and conditions of your employment, and they supersede all prior negotiations, representations or agreements between you and the Company. The provisions of this agreement may only be modified
by a document signed by you and an authorized officer of the Company. 
 We look forward to working with you at the Company. Please feel free
to call me at 510.281.7701 if you have any questions. If you find the foregoing arrangement acceptable, kindly sign below and return to me a copy of this letter. 
  

			
	Sincerely,
	
	Nile Therapeutics, Inc.
		
	By:	 	/s/ Peter Strumph
		 	Peter Strumph
		 	Chief Executive Officer

 I agree to and accept employment with Nile Therapeutics, Inc. on the terms and conditions
set forth in this agreement. 
  

									
					
	Date:	 	February 22, 2008	 		 		 	/s/ Hsiao Lieu

  

			
		  	Page 4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00137-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00137-of-00352.parquet"}]]