Document:

First Amendment to the Zions Bancorporation Restated Deferred Compensation Plan

 EXHIBIT 10.5 
  
 FIRST AMENDMENT 
 TO THE

 Zions Bancorporation Restated Deferred Compensation Plan 
  
 This First Amendment to the Zions Bancorporation Restated Deferred Compensation Plan (the “Plan”) is made
effective the 1st day of January, 2007, by Zions Bancorporation Benefits Committee (“Committee”) on behalf of Zions Bancorporation, hereinafter referred to as the “Employer.” 
  
 W I T N E S S E T H: 
  
 WHEREAS, the Employer has heretofore entered into the Plan, which Plan has
been amended and restated in its entirety effective for the Plan Year commencing on January 1, 2005, and for all plan years thereafter; and 
  
 WHEREAS, the Employer has reserved the right to amend the Plan in whole or in part; and 
  
 WHEREAS, the Committee, for and on behalf of the Employer as a result of recent announcement by the Internal Revenue Service
in Notice 2006-79 extending until December 31, 2007, the right of a Participant to amend or provide for a new election with respect to the time and form of payment of such Participant’s benefit and not be subject to the required minimum
five year delay under Section 409A(a)(4) to December 31, 2007; and 
  
 WHEREAS, the Committee wishes to modify the conditions upon which a Participant may be subject to divestment of such Participant’s benefit; and 
  
 WHEREAS, these amendments are within the authority granted to the Committee by the Employer. 
  
 NOW THEREFORE, in consideration of the foregoing premises the Committee
adopts the following amendments to the Plan (amended language is in bold italics): 
  
 (Right to Modify Elections Until December 31, 2007) 
  
 1. The following paragraph is added to the end of Section 3.5: 
  
 Until December 31, 2007 or such other time as allowed by the Internal Revenue Service, a
Participant may amend an existing Deferred Compensation Agreement or complete a new Deferred Compensation Agreement modifying the time and/or form of payment of all or a portion of such Participant’s Deferral Account without regard to the
requirement in Section 409A(a)(4) that postponement in starting date for a distribution be for a minimum of five years from the previously selected payment start date. Any such amendment or new election must be made on or before
December 31, 

 2007 (or such other date as allowed by the Internal Revenue Service) and must not take effect
earlier than 12 months from the date of such amendment. 
  
 (Vesting) 
  
 2. Section 4.2 is amended as
follows: 
  
 4.2 Vesting. A Participant’s interest in
the amounts in his or her Deferral Account attributable to (i) Compensation deferred pursuant to Sections 3.2 through 3.4 of the Plan and (ii) any earnings credited to the Participant’s Deferral Account pursuant to Section 5.5,
shall be at all times fully vested and nonforfeitable. Notwithstanding the foregoing, all amounts in a Participant’s Deferral Account, including earnings thereon, shall be subject to offset as described in the next paragraph
below. 
  
 The amounts in the
Participant’s Deferral Account, including earnings thereon, shall be subject to offset (without regard to prior vested status or whether payment of such amounts has commenced under Article 6) in the event and to the extent
that the Company obtains through arbitration, a court proceeding or a combination of both, an award/judgment against such Participant. In the event that proceedings have been instituted to allow the Company to obtain an award or judgment against
such Participant, such Participant’s account will be frozen and no payments will be made until the proceedings have been completed. If the Company is successful in obtaining a judgment/award against such Participant, the Company shall have a
right of offset against such Participant’s account for the full amount of the judgment/award including costs and attorney’s fees. 
  
 3. In all other respects the Plan is ratified and approved. 
  
 Dated this 9th day of
January, 2007. 
  

			
	 ZIONS BANCORPORATION
 BENEFITS
COMMITTEE

		
	By	 	 /S/ DIANA M. ANDERSEN

	 	 	Diana M. AndersenFirst Amendment to the Zions Bancorporation Restated Excess Benefit Plan

 EXHIBIT 10.6 
  
 FIRST AMENDMENT 
 TO THE

 Zions Bancorporation Restated Excess Benefit Plan 
  

 This First Amendment to the Zions Bancorporation Restated Excess Benefit Plan (the “Plan”) is made effective the 1st day of
January, 2007, by Zions Bancorporation Benefits Committee (“Committee”) on behalf of Zions Bancorporation, hereinafter referred to as the “Employer.” 
  

 W I T N E S S E T H: 
  
 WHEREAS, the Employer has heretofore entered into the Plan, which Plan has been amended and restated in its entirety effective for the Plan Year
commencing on January 1, 2005, and for all plan years thereafter; and 
  
 WHEREAS, the Employer has reserved the right to amend the Plan in whole or in part; and 
  
 WHEREAS, the Committee, for and on behalf of the Employer as a result of recent announcement by the Internal Revenue Service in Notice 2006-79 extending
until December 31, 2007 the right of a Participant to amend or provide for a new election with respect to the time and form of payment of such Participant’s benefit and not be subject to the required minimum five year delay under
Section 409A (a)(4) to December 31, 2007; and 
  
 WHEREAS, this amendment is within the authority granted to the Committee by the Employer. 
  
 NOW THEREFORE, in consideration of the foregoing premises the Committee adopts the following amendment to the Plan (amended language is in bold
italics): 
  
 1. Section 6.1 is amended to as
follows: 
  
 6.1 Distribution Upon Separation from Employment
or Attainment of Retirement Age. A Participant who separates from employment with the Company, whether before or after attaining Retirement Age shall receive his vested Benefit Account at the time and in the manner elected by the Participant
pursuant to his/her election(s) provided to the Committee. An election regarding the time and manner of payment of the Participant’s Benefit Account balance (including all future years’ contribution credits) shall be made at the time the
Participant first commences participation in the Plan and in accordance with rules established by the Committee. The distribution election may be amended any time thereafter in the discretion of the Participant and in accordance with rules
established by the Committee. However, any change in a Participant’s distribution election, unless specifically provided in the amended election shall be prospective only and take effect with respect to amounts credited to such
Participant’s account for plan years beginning after the year in which the amended distribution election was executed. 

 To the extent the Participant specifically elects to have an amended distribution election modify the
timing and/or manner of the of payment of sums credited to such Participants account prior to and through the year in which the amended distribution election is executed, such amended distribution election shall be applied only as allowed under 409A
including but not limited to the requirements that a change in time and/or manner must be executed at least twelve months prior to the date the payment would have been made; there shall be no acceleration of any payment in contravention of 409A; and
any postponement of a distribution shall be for a minimum of five years from the date the distribution was to have been made. 
  
 Until December 31, 2007 or such other time as allowed by the Internal Revenue Service, a Participant may amend a Deferred
Compensation Agreement or complete a new Deferred Compensation Agreement modifying the time and/or form of payment of all or a portion of such Participant’s Deferral Account without regard to the requirement in Section 409A(a)(4) that
postponement in starting date for a distribution be for a minimum of five years from the previously selected payment start date. Any such amendment or new election must be made on or before December 31, 2007(or such other date as allowed by the
Internal Revenue Service) and must not take effect earlier than 12 months from the date of such amendment. 
  
 2. In all other respects the Plan is ratified and approved. 
  
 Dated this 9th day of January, 2007. 
  

			
	 ZIONS BANCORPORATION
 BENEFITS
COMMITTEE

		
	By	 	 /S/ DIANA M. ANDERSEN

	 	 	Diana M. AndersenLetter Amendment to License Agreement

 EXHIBIT 10.2 
 

 
 [NOTE: CERTAIN PORTIONS OF THIS DOCUMENT HAVE BEEN MARKED TO INDICATE THAT CONFIDENTIAL INFORMATION HAS BEEN
OMITTED. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR THIS CONFIDENTIAL INFORMATION. THE CONFIDENTIAL PORTIONS HAVE BEEN PROVIDED SEPARATELY TO THE SECURITIES AND EXCHANGE COMMISSION.] 
 Faes Farma, S.A. 
 Maximo Aguirre, 14 
 48940 Leioa, Vizcaya, Spain 
 June 19, 2007 
 Dear Mr. Quintanilla, 
 Reference is made to the License Agreement
dated as of October 31, 2006 between Inspire Pharmaceuticals, Inc. and Faes Farma, S.A. (the “Agreement”). Inspire and Faes acknowledge and agree as follows, effective as of the date hereof: 
 1. Capitalized terms used in this letter shall have the meaning specified in the Agreement, unless otherwise defined herein. References to Sections and Schedules in this
letter are references to Sections and Schedules of the Agreement. 
 2. Notwithstanding the provisions of Section 3.2, (i) Faes will be responsible
for undertaking, at its sole cost and expense, and for using Commercially Reasonable Efforts to conduct the development activities described in the Supplemental Development Plan (as defined below), and such activities will be deemed to be part of
the Development Plan, and (ii) until the completion of such activities, all obligations of Inspire with respect to development and commercialization of the Principal Products shall be suspended in all respects, including without limitation
under Sections 3.2 and 3.3. Commencing upon December 1, 2007, Faes may terminate its development activities described in the Supplemental Development Plan prior to their completion at any time upon thirty (30) days advance written notice
to Inspire. A supplemental development plan has been agreed to by the Parties describing the development activities to be undertaken by Faes pursuant to this letter agreement (the “Supplemental Development Plan”). 
 3. Section 9.2 is hereby amended to read in its entirety as follows: 
 “9.2 Voluntary Termination by Inspire. Notwithstanding any other provision herein, commencing upon December 1, 2007, Inspire may terminate this Agreement for its convenience either (i) on a
country-by-country basis or Inspire Licensed Product-by-Inspire Licensed Product basis (such termination, a “Partial Termination”), or (ii) in its entirety, such termination requiring the following notice: (x) prior to the First
Commercial Sale of an Inspire Licensed Product, upon thirty (30) days advance written notice to Faes, or (y) after the First Commercial Sale of an Inspire Licensed Product, upon one hundred eighty (180) days advance written notice to
Faes.” 
 4. Section 4.2(a) (“Milestone Payments — Acceptable QT Study Results”), Schedule 4.2(a) (“QT Study Results
Guidelines”), and Section 9.8 (“Consequences if QT Study Milestone Payment not Made”) are hereby deleted and shall have no further force or effect, and Inspire shall not be obligated to make any payment or take any action under
such deleted Sections. 
 

 

 5. Section 4.2(b) is hereby amended to read in its entirety as follows: 
 “(b) United States NDA Filing. Two Million U.S. Dollars ($2,000,000) upon receipt by Inspire (or its Affiliate or sublicensee) of written
notice from the FDA that Inspire’s (or its Affiliate’s or sublicensee’s) NDA seeking Regulatory Approval in the United States of a Principal Product comprising an oral tablet formulation for the Primary Indication has been deemed
acceptable for filing and filed by the FDA pursuant to 21 C.F.R. § 314.101.” 
 6. Section 4.2(c)(i)(A) (“Milestone Payments —
Regulatory Approvals — Primary Indication”) is hereby amended to read in its entirety as follows: 
 “(A) [CONFIDENTIAL]
upon receipt by Inspire (or its Affiliate or sublicensee) of Regulatory Approval in the United States of a Principal Product comprising an oral tablet formulation for the Primary Indication with an Acceptable Primary Label.” 
 7. On the date that is sixty (60) days after Faes has completed its development activities described in the Supplemental Development Plan and Inspire has received
from Faes all of the final, audited study reports, each in compliance with applicable guidelines and suitable for submission to the FDA, with respect to the clinical studies conducted by Faes under the Supplemental Development Plan, Inspire’s
obligations with respect to development and commercialization of the Principal Products under the Agreement shall no longer be suspended as contemplated in paragraph 2 above. 
 8. Except as provided in this letter, the Agreement shall remain in full force and effect. In the event of any inconsistency between the Agreement and this letter agreement, the terms of this letter agreement shall
control. 
 

 

 If the foregoing accurately reflects our agreement on these matters, please sign a copy of this letter in the space below
and return it to us. 
 Very truly yours, 
  

	
	 /s/ Christy L. Shaffer

	Christy L. Shaffer
	President and CEO

 Acknowledged and agreed to by: 
  

			
	 Faes Farma, S.A.

		
	 By:
	 	 /s/ Francisco Quintanilla

	 Name:
	 	Francisco Quintanilla
	 Title:
	 	Managing Director

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