Document:

Prepared by MerrillDirect

Exhibit 10.29

June
1, 2001

John
Fiddes

[address]

	 	Re:	Notification
  Under the Worker Adjustment and Retraining Notification Act (“WARN Act”) and
  Offer of Severance Package

Dear
John:

This
Letter Agreement (the “Letter Agreement”) is to inform you in advance that
IntraBiotics Pharmaceuticals, Inc. (the “Company”) is restructuring its
workforce at its facilities located at 2021
Stierlin Court, Mountain View, California and 1245 Terra Bella, Mountain
View, California.  This restructuring
constitutes a “mass layoff” under the WARN Act.

Due
to this restructuring, you will be laid off. 
Your employment termination is currently scheduled to occur on July 31,
2001 (the “Separation Date”).  Until the
Separation Date, you will remain an employee of the Company, and you will be
paid your current base salary (less all applicable deductions and withholdings)
in accordance with the Company’s normally scheduled payroll dates.  In addition, you will remain eligible for
those benefits provided under the Company’s employee benefit plans.  On the Separation Date, the Company will pay
you all accrued salary and all accrued and unused vacation through the
Separation Date, subject to standard payroll deductions and withholdings.  There are no bumping rights.  The layoff is expected to be permanent.

From
now until the Separation Date, the Company asks that you continue to report for
work.  You will be asked to provide
services to the Company to aid in this transition period.  Your exact duties will be jointly determined
by you and the Company during the week of June 4, 2001 and set forth in
writing.

Moreover,
if you are still employed by the Company on the Separation Date, and if on or
after the Separation Date you sign and (without revoking your signature)
deliver to the Company a Confidential Separation and Release Agreement in a
form substantially similar to the document attached hereto as Exhibit A, the
Company will provide you with the following “Severance Package” benefits: (i)
if after the Separation Date you timely elect to continue your health insurance
benefits through COBRA coverage, the Company will pay for six (6) months of
such COBRA coverage at no cost to you; (ii) the Company will accelerate six (6)
months vesting of all unvested stock options from the Separation Date; and
(iii) the Company will pay you in a single lump sum an amount equivalent to six
(6) months of your current base salary, less all applicable deductions and
withholdings within fifteen (15) days of the Separation Date.  If your employment is terminated prior to
the Separation Date and such termination constitutes an Involuntary Termination
Without Cause (as defined below) or a Constructive Termination (as defined
below), then you shall receive a cash payment equal to your base salary as if
you continued to be employed from the date of your termination through  January 31, 2002.

For purposes of this Letter Agreement, “Constructive Termination” means that
you voluntarily terminate your employment with the Company after:

(i)         the
assignment to you of any duties or responsibilities that result in a
significant diminution in your function as in effect on June 1, 2001; provided, however, that a mere change in
your title or reporting relationships shall not constitute a Constructive
Termination;

(ii)         a
reduction by the Company in your current base salary by five percent (5%) or
more; provided, however, that a
reduction by the Company of your current base salary by up to ten percent (10%)
shall not constitute a Constructive Termination for purposes of this Letter Agreement
if it is made in connection with an across-the-board reduction by the Company
of all employees’ annual base salaries by a percentage at least equal to the
percentage by which your current base salary is reduced;

(iii)       a
relocation of your business office to a location that requires you to commute
more than thirty-five (35) miles each way, except for required travel by you on
the Company’s business to an extent substantially consistent with your business
travel obligations prior to June 1, 2001; provided,
however, that no relocation of your business office shall constitute
a Constructive Termination for purposes of this Letter Agreement if you provide
services to the Company from a remote location (e.g., through telecommuting) at
the time of the relocation;

(iv)        a
material breach by the Company of any provision of this Letter Agreement; or

(v)         any
failure by the Company to obtain the assumption of these benefits by any
successor or assign of the Company.

For
purposes of this Letter Agreement, “Involuntary Termination Without Cause”
means your dismissal or discharge for reasons other than Cause.  For this purpose, “Cause” means that, in the
reasonable determination of the Company, that you have:

(i)         been
indicted for or convicted of or pleaded guilty or no contest to any felony or
any crime involving dishonesty that is likely to inflict or has inflicted
demonstrable and material injury on the business of the Company;

(ii)        participated
in any fraud against the Company;

(iii)       willfully
and materially breached a Company policy;

(iv)        intentionally
damaged any property of the Company thereby causing demonstrable and material
injury to the business of the Company;

(v)         willfully
and materially breached your obligations under your IntraBiotics’ Employment,
Confidential Information And Invention Assignment Agreement;

(vi)        engaged
in conduct that, in the reasonable determination of the Company, demonstrates
gross unfitness to serve; or

(vii)      demonstrated
a continued pattern of substantial nonperformance of your duties.

Notwithstanding
the foregoing, Cause shall not exist based on conduct described in clause
(iii), (vi) or (vii) above unless the conduct described in such clause has not
been cured within fifteen (15) days following your receipt of written notice
from the Company specifying the particulars of the conduct constituting Cause.

If
you voluntarily leave the Company before the Separation Date (other than in a
Constructive Termination), or if you are terminated for Cause before the
Separation Date, no part of the Severance Package is earned or payable.

This
Agreement, including Exhibit A, constitutes the complete, final and exclusive
embodiment of the entire agreement between you and the Company with regard to
this subject matter.  It is entered into
without reliance on any promise, warranty, or representation, written or oral,
other than those expressly contained herein, and it supersedes any other such
promises, warranties or representations. 
This Agreement may not be modified or amended except in a writing signed
by both you and a duly authorized officer of the Company.  This Agreement shall bind the heirs,
personal representatives, successors and assigns of both you and the Company,
and inure to the benefit of both you and the Company, their heirs, successors and
assigns.  This Agreement shall be deemed
to have been entered into and shall be construed and enforced in accordance
with the laws of the State of California as applied to contracts made and to be
performed entirely within California.

If
you have any questions, the name and telephone number of the Company’s official
to contact for further information is:

                                        Ray
Mendonca

                                        Director,
Human Resources

                                        IntraBiotics
Pharmaceuticals, Inc.

                                        (650)
567-6650

I
want to thank you personally for your contributions to IntraBiotics
Pharmaceuticals, Inc., and thank you in advance for your assistance during the
Transition Period.

Sincerely,

INTRABIOTICS
PHARMACEUTICALS, INC.

Kenneth
Kelley, President & Chief Executive Officer

Exhibit A – General Waiver and
Release Agreement

	AGREED AND ACCEPTED:
	 
	

	 

 

	Dated:	, 2001Prepared by MerrillDirect

Exhibit 10.30

June 1, 2001

Leo Gu

[address]

	 	Re:	Notification Under the Worker
  Adjustment and Retraining Notification Act (“WARN Act”) and Offer of
  Severance Package

Dear Leo:

This Letter Agreement (the “Letter Agreement”)
is to inform you in advance that IntraBiotics Pharmaceuticals, Inc. (the
“Company”) is restructuring its workforce at its facilities located at 2021 Stierlin Court, Mountain View, California and
1245 Terra Bella, Mountain View, California. 
This restructuring constitutes a “mass layoff” under the WARN Act.

Due to this restructuring, you will be laid
off.  Your employment termination is
currently scheduled to occur onAugust 31, 2001 (the “Separation
Date”).  Until the Separation Date, you
will remain an employee of the Company, and you will be paid your current base
salary (less all applicable deductions and withholdings) in accordance with the
Company’s normally scheduled payroll dates. 
In addition, you will remain eligible for those benefits provided under
the Company’s employee benefit plans. 
On the Separation Date, the Company will pay you all accrued salary and
all accrued and unused vacation through the Separation Date, subject to
standard payroll deductions and withholdings. 
There are no bumping rights.  The
layoff is expected to be permanent.

From now until the Separation Date, the Company
asks that you continue to report for work. 
You will be asked to provide services to the Company to aid in this
transition period. Your exact duties will be jointly determined by you and the
Company during the week of June 4, 2001 and set forth in writing.

Moreover, if you are still employed by the
Company on the Separation Date, and if on or after the Separation Date you sign
and (without revoking your signature) deliver to the Company a Confidential
Separation and Release Agreement in a form substantially similar to the
document attached hereto as Exhibit A, the Company will provide you with the
following “Severance Package” benefits: (i) if after the Separation Date you
timely elect to continue your health insurance benefits through COBRA coverage,
the Company will pay for six (6) months of such COBRA coverage at no cost to
you; (ii) the Company will accelerate six (6) months vesting of all unvested
stock options from the Separation Date; and (iii) the Company will pay you in a
single lump sum an amount equivalent to six (6) months of your current base
salary, less all applicable deductions and withholdings within fifteen (15)
days of the Separation Date.  If your
employment is terminated prior to the Separation Date and such termination
constitutes an Involuntary Termination Without Cause (as defined below) or a
Constructive Termination (as defined below), then you shall receive a cash
payment equal to your base salary as if you continued to be employed from the
date of your termination through February 28, 2002.

For purposes of this Letter Agreement, “Constructive Termination” means that
you voluntarily terminate your employment with the Company after:

(i)         the assignment to you of any duties or responsibilities
that result in a significant diminution in your function as in effect on June
1, 2001; provided, however, that
a mere change in your title or reporting relationships shall not constitute a
Constructive Termination;

(ii)         a reduction by the
Company in your current base salary by five percent (5%) or more; provided, however, that a reduction by the
Company of your current base salary by up to ten percent (10%) shall not
constitute a Constructive Termination for purposes of this Letter Agreement if
it is made in connection with an across-the-board reduction by the Company of
all employees’ annual base salaries by a percentage at least equal to the
percentage by which your current base salary is reduced;

(iii)       a relocation of your business office to a
location that requires you to commute more than thirty-five (35) miles each
way, except for required travel by you on the Company’s business to an extent
substantially consistent with your business travel obligations prior to June 1,
2001; provided, however, that no
relocation of your business office shall constitute a Constructive Termination
for purposes of this Letter Agreement if you provide services to the Company
from a remote location (e.g., through telecommuting) at the time of the
relocation;

(iv)        a material breach by the Company of any
provision of this Letter Agreement; or

(v)         any failure by the Company to obtain
the assumption of these benefits by any successor or assign of the Company.

For purposes of
this Letter Agreement, “Involuntary Termination Without Cause” means your
dismissal or discharge for reasons other than Cause.  For this purpose, “Cause” means that, in the reasonable
determination of the Company, that you have:

(i)         been indicted for or convicted of or
pleaded guilty or no contest to any felony or any crime involving dishonesty
that is likely to inflict or has inflicted demonstrable and material injury on
the business of the Company;

(ii)        participated in any fraud against the
Company;

(iii)       willfully and materially breached a Company
policy;

(iv)        intentionally damaged any property of
the Company thereby causing demonstrable and material injury to the business of
the Company;

(v)         willfully and materially breached your
obligations under your IntraBiotics’ Employment, Confidential Information And
Invention Assignment Agreement;

(vi)        engaged in conduct that, in the
reasonable determination of the Company, demonstrates gross unfitness to serve;
or

(vii)      demonstrated a continued pattern of
substantial nonperformance of your duties.

Notwithstanding the foregoing, Cause shall not
exist based on conduct described in clause (iii), (vi) or (vii) above unless
the conduct described in such clause has not been cured within fifteen (15)
days following your receipt of written notice from the Company specifying the
particulars of the conduct constituting Cause.

If you voluntarily leave the Company before the
Separation Date (other than in a Constructive Termination), or if you are
terminated for Cause before the Separation Date, no part of the Severance
Package is earned or payable.

This Agreement, including Exhibit A, constitutes
the complete, final and exclusive embodiment of the entire agreement between
you and the Company with regard to this subject matter.  It is entered into without reliance on any
promise, warranty, or representation, written or oral, other than those
expressly contained herein, and it supersedes any other such promises,
warranties or representations.  This
Agreement may not be modified or amended except in a writing signed by both you
and a duly authorized officer of the Company. 
This Agreement shall bind the heirs, personal representatives,
successors and assigns of both you and the Company, and inure to the benefit of
both you and the Company, their heirs, successors and assigns.  This Agreement shall be deemed to have been
entered into and shall be construed and enforced in accordance with the laws of
the State of California as applied to contracts made and to be performed
entirely within California.

If you have any questions, the name and
telephone number of the Company’s official to contact for further information
is:

                                        Ray
Mendonca

                                        Director,
Human Resources

                                        IntraBiotics
Pharmaceuticals, Inc.

                                        (650)
567-6650

I want to thank
you personally for your contributions to IntraBiotics Pharmaceuticals, Inc.,
and thank you in advance for your assistance during the Transition Period.

Sincerely,

INTRABIOTICS
PHARMACEUTICALS, INC.

Kenneth Kelley,
President & Chief Executive Officer

Exhibit A – General Waiver and
Release Agreement

	AGREED AND ACCEPTED:
	 
	

	 

Dated:                                               , 2001

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