Document:

Amendment to Letter Agreement--Leanne M. Kelly

 Exhibit 10.2 
 CONFIDENTIAL AND PRIVILEDGED 
 August 11, 2008 
 Leanne M. Kelly 
 c/o Genaera Corporation 
 5110 Campus Drive 
 Plymouth Meeting, PA 19462 
 Dear Leanne: 
 As discussed with you, Genaera proposes to amend your letter of employment dated November 22, 2002, as
amended by letter agreement dated May 8, 2008. The following paragraph is hereby added as the new last paragraph: 
 “Additionally,
if Genaera terminates your employment without cause (as defined in Genaera’s 2004 Stock Based Incentive Compensation Plan): (a) all of your outstanding unvested options to purchase, or awards to acquire, securities of Genaera Corporation
shall vest as of the date of termination; and (b) all of your outstanding options to purchase, or awards to acquire, securities of Genaera Corporation shall remain exercisable for the shorter of twelve (12) months following the date of
termination or the original term of such option to purchase, or award to acquire, securities of Genaera Corporation.” 
 Except as amended above, all
other terms and conditions of your employment shall remain in full force and effect. 
 Please indicate your acceptance of this amendment by your signature
below and return to Human Resources by August 15, 2008. 
  

	
	 /s/ John L. Armstrong, Jr.

	John L. Armstrong, Jr.
	President and Chief Executive Officer

			
		
	Accepted:	 	 /s/ Leanne M. Kelly

		
	Date:	 	August 13, 2008Amendment to Letter Agreement--Henry R. Wolfe

 Exhibit 10.3 
 CONFIDENTIAL AND PRIVILEDGED 
 August 11, 2008 
 Henry R. Wolfe, Ph.D. 
 c/o Genaera Corporation 
 5110 Campus Drive 
 Plymouth Meeting, PA 19462 
 Dear Hank: 
 As discussed with you, Genaera proposes to amend your letter of employment dated March 23, 2005, as amended
by letter agreement dated May 8, 2008. The following paragraph is hereby added as the new last paragraph: 
 “Additionally, if
Genaera terminates your employment without cause (as defined in Genaera’s 2004 Stock Based Incentive Compensation Plan): (a) all of your outstanding unvested options to purchase, or awards to acquire, securities of Genaera Corporation
shall vest as of the date of termination; and (b) all of your outstanding options to purchase, or awards to acquire, securities of Genaera Corporation shall remain exercisable for the shorter of twelve (12) months following the date of
termination or the original term of such option to purchase, or award to acquire, securities of Genaera Corporation.” 
 Except as amended above, all
other terms and conditions of your employment shall remain in full force and effect. 
 Please indicate your acceptance of this amendment by your signature
below and return to Human Resources by August 15, 2008. 
  

	
	 /s/ John L. Armstrong, Jr.

	John L. Armstrong, Jr.
	President and Chief Executive Officer

			
		
	Accepted:	 	 /s/ Henry R. Wolfe

		
	Date:	 	August 13, 2008Amendment to Agreement in the Event of a Change in Control--John L. Armstrong,Jr

 Exhibit 10.4 
 August 11, 2008 
 John L. Armstrong, Jr. 
 c/o
Genaera Corporation 
 5110 Campus Drive 
 Plymouth Meeting, PA
19462 
  

	 	Re:	Amendment to Agreement in the Event of a Change of Control of Genaera Corporation  

 Dear Jack: 
 The Change of Control Agreement dated August 27, 2004 is hereby amended to add
Section 8 (iii) to read as follows: 
 (i) If a Change of Control occurs, (a) all of your outstanding unvested options to
purchase, or awards to acquire, securities of Genaera Corporation shall vest as of the date of the Change of Control; and (b) all of your outstanding options to purchase, or awards to acquire, securities of Genaera Corporation shall remain
exercisable for the original term of such option to purchase, or award to acquire, securities of Genaera Corporation.
 Except as amended
above, all other terms and conditions of your employment shall remain in full force and effect. 
 Please indicate your acceptance of this amendment by your
signature below and return to Human Resources by August 15, 2008. 
 Sincerely, 
  

	
	 /s/ R. Frank Ecock

	R. Frank Ecock
	Chair, Compensation Committee

			
		
	Accepted:	 	 /s/ John L. Armstrong, Jr.

		
	Date:	 	August 13, 2008Amendment to Agreement in the Event of a Change in Control--Michael J. Gast

 Exhibit 10.5 
 August 11, 2008 
 Michael J. Gast, M.D., Ph.D. 
 c/o Genaera Corporation 
 5110 Campus Drive 
 Plymouth
Meeting, PA 19462 
  

	 	Re:	Amendment to Agreement in the Event of a Change of Control of Genaera Corporation  

 Dear Mike: 
 The Change of Control Agreement dated March 9, 2006, as amended by letter agreement dated
May 8, 2008, is hereby amended to add Paragraph 5(a)(i) to read as follows: 
 (i) If a Change of Control occurs, (a) all of your
outstanding unvested options to purchase, or awards to acquire, securities of Genaera Corporation shall vest as of the date of the Change of Control; and (b) all of your outstanding options to purchase, or awards to acquire, securities of
Genaera Corporation shall remain exercisable for the original term of such option to purchase, or award to acquire, securities of Genaera Corporation.
 Except as amended above, all other terms and conditions of your employment shall remain in full force and effect. 
 Please
indicate your acceptance of this amendment by your signature below and return to Human Resources by August 15, 2008. 
 Sincerely, 
  

	
	 /s/ John L. Armstrong, Jr.

	John L. Armstrong, Jr.
	President and Chief Executive Officer

			
		
	Accepted:	 	 /s/ Michael J. Gast

		
	Date:	 	August 13, 2008Amendment to Agreement in the Event of a Change in Control--Leanne M. Kelly

 Exhibit 10.6 
 August 11, 2008 
 Leanne M. Kelly 
 c/o Genaera
Corporation 
 5110 Campus Drive 
 Plymouth Meeting, PA 19462

  

	 	Re:	Amendment to Agreement in the Event of a Change of Control of Genaera Corporation  

 Dear Leanne: 
 The Change of Control Agreement dated May 18, 2007, as amended by letter agreement dated
May 8, 2008, is hereby amended to add Paragraph 5(a)(i) to read as follows: 
 (i) If a Change of Control occurs, (a) all of your
outstanding unvested options to purchase, or awards to acquire, securities of Genaera Corporation shall vest as of the date of the Change of Control; and (b) all of your outstanding options to purchase, or awards to acquire, securities of
Genaera Corporation shall remain exercisable for the original term of such option to purchase, or award to acquire, securities of Genaera Corporation.
 Except as amended above, all other terms and conditions of your employment shall remain in full force and effect. 
 Please
indicate your acceptance of this amendment by your signature below and return to Human Resources by August 15, 2008. 
 Sincerely, 
  

	
	 /s/ John L. Armstrong, Jr.

	John L. Armstrong, Jr.
	President and Chief Executive Officer

  

			
	Accepted:	 	 /s/ Leanne M. Kelly

		
	Date:	 	August 13, 2008Amendment to Agreement in the Event of a Change in Control--Henry R. Wolfe

 Exhibit 10.7 
 August 11, 2008 
 Henry R. Wolfe, Ph.D. 
 c/o
Genaera Corporation 
 5110 Campus Drive 
 Plymouth Meeting, PA
19462 
  

	 	Re:	Amendment to Agreement in the Event of a Change of Control of Genaera Corporation  

 Dear Hank: 
 The Change of Control Agreement dated March 3, 2008, as amended by letter agreement dated
May 8, 2008, is hereby amended to add Paragraph 5(a)(i) to read as follows: 
 (i) If a Change of Control occurs, (a) all of your
outstanding unvested options to purchase, or awards to acquire, securities of Genaera Corporation shall vest as of the date of the Change of Control; and (b) all of your outstanding options to purchase, or awards to acquire, securities of
Genaera Corporation shall remain exercisable for the original term of such option to purchase, or award to acquire, securities of Genaera Corporation.
 Except as amended above, all other terms and conditions of your employment shall remain in full force and effect. 
 Please
indicate your acceptance of this amendment by your signature below and return to Human Resources by August 15, 2008. 
 Sincerely, 
  

	
	 /s/ John L. Armstrong, Jr.

	John L. Armstrong, Jr.
	President and Chief Executive Officer

  

			
	Accepted:	 	 /s/ Henry R. Wolfe

		
	Date:	 	August 13, 2008Amendment to the Outstanding Option Grant Agreements--John L. Armstrong,Jr

 Exhibit 10.8 
 CONFIDENTIAL AND PRIVILEDGED 
 August 11, 2008 
 John L. Armstrong, Jr. 
 c/o Genaera Corporation 
 5110 Campus Drive 
 Plymouth Meeting, PA 19462 
  

	Re:	Amendment to Outstanding Option Grant Agreements  

 Dear Jack:

 Genaera is amending the outstanding Option Grant Agreements awarded to you, as listed on Schedule A, to hereby add the following language as new
Item 12 to the Option Grant Agreements pertaining to the Amended 2004 Stock-Based Incentive Compensation Plan and the Amended 1998 Equity Compensation Plan: 
 Employment Agreement. In the event of any conflict between the terms of this Agreement and Grantee’s existing or future employment agreement with the Company, if any, the terms of such employment agreement
shall control. 
 Except as amended above, all other terms and conditions of your Option Grant Agreements shall remain in full force and effect. 

Please indicate your acceptance of this amendment by your signature below and return to Human Resources by August 15, 2008. 
  

	
	 /s/ R. Frank Ecock

	R. Frank Ecock
	Chair, Compensation Committee

  

			
	Accepted:	 	 /s/ John L. Armstrong, Jr.

		
	Date:	 	August 13, 2008

 Schedule A 
  

								
	 Grant Date
	  	 Option Plan
	  	Grant Price	  	Granted
	 10/27/2003
	  	1998 Plan	  	$	26.70	  	16,667
	 7/23/2004
	  	1998 Plan	  	$	19.14	  	16,667
	 12/8/2004
	  	1998 Plan	  	$	21.60	  	16,667
	 7/27/2005
	  	2004 Plan	  	$	10.14	  	33,334
	 12/8/2005
	  	2004 Plan	  	$	8.13	  	33,334
	 8/1/2006
	  	2004 Plan	  	$	2.64	  	25,000
	 12/12/2006
	  	2004 Plan	  	$	2.22	  	25,000
	 5/18/2007
	  	2004 Plan	  	$	2.75	  	200,000
	 9/26/2007
	  	2004 Plan	  	$	2.98	  	275,000

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00146-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00146-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00146-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00146-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00146-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00146-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00146-of-00352.parquet"}]]