Document:

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                                                                  EXHIBIT 10-AAn

                              AMENDMENT NUMBER 4 TO
                      TRANSFER AND ADMINISTRATION AGREEMENT

          AMENDMENT NUMBER 4 TO TRANSFER AND ADMINISTRATION AGREEMENT (this
"Amendment"), dated as of March 6, 2003 among TECH DATA CORPORATION ("Tech
Data"), a Florida corporation ("Tech Data"), as collection agent (in such
capacity, the "Collection Agent"), TECH DATA FINANCE SPV, INC., a Delaware
corporation headquartered in California, as transferor (in such capacity, the
"Transferor"), RECEIVABLES CAPITAL CORPORATION ("RCC"), a Delaware corporation,
ATLANTIC ASSET SECURITIZATION CORP., a Delaware corporation ("Atlantic"),
LIBERTY STREET FUNDING CORP., a Delaware corporation, ("Liberty"), AMSTERDAM
FUNDING CORPORATION, a Delaware corporation ("AFC"), FALCON ASSET SECURITIZATION
CORPORATION, a Delaware corporation, ("Falcon"), BLACK FOREST FUNDING
CORPORATION, a Delaware corporation, ("Black Forest" and collectively with RCC,
Atlantic, Liberty, AFC and Falcon, the "Class Conduits"), CREDIT LYONNAIS NEW
YORK BRANCH, a branch duly licensed under the laws of the State of New York of a
banking corporation organized and existing under the laws of the Republic of
France ("Credit Lyonnais"), as a Atlantic Bank Investor and as agent for
Atlantic and the Atlantic Bank Investors (in such capacity, the "Atlantic
Agent"), THE BANK OF NOVA SCOTIA, a banking corporation organized and existing
under the laws of Canada, acting through its New York Agency ("Scotia Bank"), as
a Liberty Bank Investor and as agent for Liberty and the Liberty Bank Investors
(in such capacity, the "Liberty Agent"), ABN AMRO BANK N.V., a banking
corporation organized and existing under the laws of the Netherlands and acting
through its Chicago Branch ("ABN AMRO"), as an AFC Bank Investor and as agent
for AFC and the AFC Bank Investors (in such capacity, the "AFC Agent"), BANK
ONE, NA (having its main office in Chicago, Illinois), a national banking
association ("Bank One"), as a Falcon Bank Investor and as agent for Falcon and
the Falcon Bank Investors (in such capacity, the "Falcon Agent"), BAYERISCHE
HYPO- UND VEREINSBANK AG, NEW YORK BRANCH, a branch duly licensed under the laws
of New York of a banking corporation organized and existing under the laws of
the Federal Republic of Germany ("HypoVereinsbank"), as a Black Forest Bank
Investor and as agent for Black Forest and the Black Forest Bank Investors (in
such capacity, the "Black Forest Agent"), Lloyds TSB Bank plc, as an Atlantic
Bank Investor and as an RCC Bank Investor and BANK OF AMERICA, NATIONAL
ASSOCIATION, a national banking association ("Bank of America"), as agent for
RCC, Atlantic, Liberty, AFC, Falcon, Black Forest, the RCC Bank Investors, the
Atlantic Bank Investors, the Black Forest Bank Investors, the Liberty Bank
Investors, the AFC Bank Investors and the Falcon Bank Investors (in such
capacity, the "Administrative Agent"), as an RCC Bank Investor, as agent for RCC
and the RCC Bank Investors (in such capacity, the "RCC Agent") and Lead
Arranger, amending that certain Transfer and Administration Agreement dated as
of May 19, 2000, among the Transferor, the Collection Agent, the Class Conduits
(as defined thereunder) and the Bank Investors (the "Original Agreement" and
said agreement as amended, the "Agreement").

          WHEREAS, the parties hereto mutually desire to make certain amendments
to the Agreement as hereinafter set forth; and

          WHEREAS, capitalized terms used herein shall have the meanings
assigned to such terms in the Original Agreement;

          NOW, THEREFORE, in consideration of the premises and mutual covenants
herein contained, the parties hereto agree as follows:

          SECTION 1. Amendment to Definitions.

                   (a) Effective as of January 31, 2003, the definition of
"Consolidated Net Income" set forth in Exhibit N to the Original Agreement is
hereby deleted and replaced with the following (solely for convenience added or
changed language is italicized):

          ""Consolidated Net Income" means the gross revenues of Collection
Agent and its Subsidiaries less all operating and non-operating expenses of
Collection Agent and its Subsidiaries, plus or minus minority interest of a
Person, including taxes on income, and plus any non-cash charges due to
impairments in accordance with the Financial Accounting Standards Board's
Statement of Financial Accounting Standards No. 142, but excluding as income:
(i) gains or losses on the sale, conversion or other disposition of capital
assets, (ii) gains or losses on the acquisition, retirement, sale or other
disposition of capital stock and other securities

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of Collection Agent or any Subsidiary, (iii) gains or losses on the collection
of proceeds of life insurance policies, (iv) any write-up of any asset, (v) any
gain or loss arising by reason of any foreign exchange transaction adjustment
and (vi) any other gain or loss or credit of an extraordinary nature as
determined in accordance with GAAP."

               (b) Effective as of March 13, 2003, the definition of "Official
Body" is hereby deleted and replaced with the following (solely for convenience
added or changed language is italicized):

          ""Official Body " means any government or political subdivision or any
agency, authority, bureau, central bank, commission, department or
instrumentality of any such government or political subdivision, or any court,
tribunal, grand jury or arbitrator, or any accounting board or authority
(whether or not a part of government) which is responsible for the establishment
or interpretation of national or international accounting principles, in each
case whether foreign or domestic."

          SECTION 2. Effective as of March 13, 2003, Section 8.2(b) of the
Agreement is hereby deleted and replaced with the following (solely for
convenience added or changed language is italicized):

               (b) If any Indemnified Party shall have determined that (a)
after the date hereof, the adoption of any applicable Law or bank regulatory
guideline regarding capital adequacy, or any change therein, or any change in
the interpretation or administration thereof by any Official Body, or any
request or directive regarding capital adequacy (in the case of any bank
regulatory guideline, whether or not having the force of law) of any such
Official Body, or (b) any interpretation of Accounting Research Bulletin No. 51
by the Financial Accounting Standards Board or any application of such standard
or of any interpretation thereof, has or would have the effect of reducing the
rate of return on capital of such Indemnified Party (or its parent) as a
consequence of such Indemnified Party's obligations hereunder or with respect
hereto to a level below that which such Indemnified Party (or its parent) could
have achieved but for such adoption, change, request, directive, interpretation
or application (taking into consideration its policies with respect to capital
adequacy) by an amount deemed by such Indemnified Party to be material, then
from time to time, within ten (10) days after demand by such Indemnified Party
through the Administrative Agent, the Transferor shall pay to the Administrative
Agent, for the benefit of such Indemnified Party such additional amount or
amounts as will compensate such Indemnified Party (or its parent) for such
reduction.

          SECTION 3. Conditions Precedent. This Amendment shall not become
effective until the Administrative Agent shall have received the following:

               (a) A copy of the Resolutions of the Board of Directors of the
Transferor and Tech Data certified by its Corporate Officer approving this
Amendment and the other documents to be delivered by the Transferor and Tech
Data hereunder; and

               (b) A Certificate of the Corporate Officer of the Transferor and
Tech Data certifying (i) the names and signatures of the officers authorized on
its behalf to execute this Amendment and any other documents to be delivered by
it hereunder and (ii) the Resolutions referenced in Section 3(a) are still in
full force and effect and that the Board has not taken any action to amend
modify or repeal such Resolutions.

          SECTION 4. Representations and Warranties. The Transferor hereby makes
to the Company, on and as of the date hereof, all of the representations and
warranties set forth in Section 3.1 of the Original Agreement. In addition, the
Collection Agent and the Guarantor hereby make to the Company, on the date
hereof, all the representations and warranties set forth in Section 3.3 of the
Original Agreement.

          SECTION 5. Successors and Assigns. This Amendment shall bind, and the
benefits hereof shall inure to the parties hereof and their respective
successors and permitted assigns;

          SECTION 6. Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. THE TRANSFEROR
HEREBY SUBMITS TO THE NONEXCLUSIVE JURISDICTION OF THE UNITED STATES DISTRICT
COURT FOR THE SOUTHERN DISTRICT OF NEW YORK AND OF ANY NEW YORK STATE COURT
SITTING IN

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THE CITY OF NEW YORK FOR PURPOSES OF ALL LEGAL PROCEEDINGS ARISING OUT OF OR
RELATING TO THIS AMENDMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

          SECTION 7. Severability; Counterparts. This Amendment may be executed
in any number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed shall be deemed to be an original
and all of which when taken together shall constitute one and the same
instrument. Any provisions of this Amendment which are prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the
remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction.

          SECTION 8. Captions. The captions in this Amendment are for
convenience of reference only and shall not define or limit any of the terms or
provisions hereof.

          SECTION 9. Ratification. Except as expressly affected by the
provisions hereof, the Original Agreement as amended by this Amendment shall
remain in full force and effect in accordance with its terms and ratified and
confirmed by the parties hereto. On and after the date hereof, each reference in
the Original Agreement to "this Agreement", "hereunder", "herein" or words of
like import shall mean and be a reference to the Original Agreement as amended
by this Amendment.

          IN WITNESS WHEREOF, the parties hereto have executed and delivered
this Amendment as of the date first written above.

                                TECH DATA FINANCE SPV, INC.,
                                  as Transferor

                                By: /s/ Arthur W. Singleton
                                   --------------------------------------
                                   Name:  Arthur W. Singleton
                                   Title: Vice President, CFO, Treasurer,
                                           and Secretary

                                TECH DATA CORPORATION,
                                  as Collection Agent

                                By: /s/ Arthur W. Singleton
                                   --------------------------------------
                                   Name:  Arthur W. Singleton
                                   Title: Corporate Vice President, Treasurer,
                                           and Secretary

                                RECEIVABLES CAPITAL CORPORATION

                                By: /s/ Evelyn Echevarria
                                   --------------------------------------
                                   Name:  Evelyn Echevarria
                                   Title: Vice President

                                ATLANTIC ASSET SECURITIZATION CORP.

                                By: CREDIT LYONNAIS NEW YORK BRANCH,
                                       as attorney-in-fact

                                By: /s/ Anthony Brown
                                   --------------------------------------
                                   Name:  Anthony Brown
                                   Title: Vice President

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                          LIBERTY STREET FUNDING CORP.

                          By: /s/ Andrew L. Stidd
                             --------------------------------------
                             Name:  Andrew L. Stidd
                             Title: President

                          AMSTERDAM FUNDING CORPORATION

                          By: /s/ Bernard J. Angelo
                             --------------------------------------
                             Name: Bernard J. Angelo
                             Title: Vice President

                          FALCON ASSET SECURITIZATION CORPORATION

                          By: /s/ George S. Wilkins III
                             --------------------------------------
                             Name:  George S. Wilkins III
                             Title: Authorized Signatory

                          BLACK FOREST FUNDING CORPORATION

                          By: /s/ Lori Gebron
                             --------------------------------------
                          Name:  Lori Gebron
                          Title: Vice President

                          BANK OF AMERICA, NATIONAL
                          ASSOCIATION, as Administrative Agent, RCC
                                Agent and as an RCC Bank Investor

                          By: /s/ Jeffrey Fricano
                             --------------------------------------
                             Name:  Jeffrey Fricano
                             Title: Vice President

                          CREDIT LYONNAIS NEW YORK BRANCH,
                           as Atlantic Agent and as an Atlantic Bank
                                Investor

                          By: /s/ Anthony Brown
                             --------------------------------------
                             Name:  Anthony Brown
                             Title: Vice President

                          THE BANK OF NOVA SCOTIA, as Liberty
                            Agent and as a Liberty Bank Investor

                          By: /s/ Norman Last
                             --------------------------------------
                             Name:  Norman Last
                             Title: Managing Director

                          ABN AMRO BANK N.V., as AFC Agent
                            and as an AFC Bank Investor

                          By: /s/ Bernard Koh
                             --------------------------------------
                             Name:  Bernard Koh
                             Title: Group Vice President

                          By: /s/ Therese Gremley
                             --------------------------------------
                             Name:  Therese Gremley
                             Title: Vice President

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                          BANK ONE, NA (having its main office
                            in Chicago Illinois), as Falcon Agent
                            and as a Falcon Bank Investor

                          By: /s/ George S. Wilkins III
                             --------------------------------------
                             Name:  George S. Wilkins III
                             Title: Director, Capital Markets

                          BAYERISCHE HYPO- UND VEREINSBANK AG, NEW YORK BRANCH,
                            as Black Forest Agent and Black Forest Bank Investor

                          By: /s/ Pamela J. Gillons
                             --------------------------------------
                             Name:  Pamela J. Gillons
                             Title: Associate Director

                          By: /s/ Mark Hirshorn
                             --------------------------------------
                             Name:  Mark Hirshorn
                             Title: Managing Director

                          LLOYDS TSB BANK PLC,
                            as an Atlantic Bank Investor

                          By: /s/ Michelle White
                             --------------------------------------
                             Name:  Michelle White
                             Title: Assistant Vice President
                                     Structured Finance, W154

                          By: /s/ John Harchuck
                            ---------------------------------------
                             Name:  John Harchuck
                             Title: Assistant Vice President
                                     Structured Finance, H020

                          LLOYDS TSB BANK PLC,
                            as an RCC Bank Investor

                          By: /s/ Michelle White
                             --------------------------------------
                             Name: Michelle White
                             Title: Assistant Vice President
                                     Structured Finance, W154

                          By: /s/ John Harchuck
                             --------------------------------------
                             Name:  John Harchuck
                             Title: Assistant Vice President
                                     Structured Finance, H020Employment Agreement

EXHIBIT 10.1 
 
February 11, 2003 
 
Mr. Howard W. Robin 
2210 Meadow Avenue 
Boulder, CO 80304 
 
Dear Howard: 
 
This letter shall serve to amend and restate the terms of
employment offered to you by Ribozyme Pharmaceuticals, Inc. (the “Company”) and acknowledge your acceptance of the employment on such terms as detailed below. This letter is being entered into in connection with the proposed private
venture capital financing in the approximate amount of $45 million for the Company (the “Financing”), and shall become effective upon the closing of the Financing and the transactions contemplated thereby (the “Effective Time”).
Until the Effective Time, your current employment letter agreement dated January 4, 2001, as amended on June 19, 2001 and June 24, 2002 (collectively, the “Current Agreement”) shall remain in full force and effect. 
 
Capitalized terms used herein and not otherwise defined herein
shall have the meanings ascribed to them on Appendix 1 hereto. 
 
1. Positions and Scope of Employment. Upon the Effective Time, you shall continue to serve as President and Chief Executive Officer of the Company. You shall render such business and professional services in the performance of
your duties, consistent with your position within the Company, consistent with the Bylaws of the Company and as shall reasonably be assigned to you by the Company’s Board of Directors (the “Board”), and you shall report directly to
the Board. You shall perform your duties faithfully and to the best of your ability and shall devote your full business efforts and time to the Company. The Company agrees that you shall continue to be nominated and elected to the Board throughout
the term of your employment with the Company. 
 
2.
Compensation. 
 
(a) Base Salary; Annual
Reviews. During the period beginning as of the Effective Time and ending on December 31, 2003, the Company shall pay to you as compensation for your services a base salary at the annualized rate of $345,000 (the “Base Salary”).
Thereafter, your Base Salary shall be subject to annual performance review by the Board for appropriate upward adjustment, and you will be considered for additional grants of stock options in connection with each annual review by the Board. Your
Base Salary shall be paid in accordance with the Company’s normal payroll practices. 
 

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(b)
Bonus. In each calendar year of your employment with the Company you shall be eligible to earn a bonus, including the 2003 calendar year. The annual bonus shall be based upon attainment of reasonable and achievable goals which shall be
mutually agreed upon by you and the Board. The amount of the annual bonus which you shall be eligible to earn shall be equal to thirty percent (30%) of your then current annual Base Salary in the event you achieve such goals. Your bonus shall be
reasonably increased or decreased based on the overachievement or underachievement of such goals. Such bonus shall be payable in a cash lump sum within thirty (30) days after the end of the calendar year with respect to which the bonus is payable.

 
(c) Options. On or before the date of
signing of the Stock Purchase Agreement in connection with the Financing, the Company shall grant to you stock options to purchase such number of shares of the Company’s common stock as shall equal four and one-half percent (41⁄2%) of the
Company’s issued and outstanding common stock immediately after the closing of the Financing, on a fully diluted, fully converted basis, less 377,000 shares (which 377,000 shares have been calculated based on the Company’s current
capitalization and before the proposed reverse stock split, and will be considered a credit against the stock options otherwise relating to four and one-half (41⁄2%) of the Company’s issued and outstanding common stock), which options shall
be exercisable for a period of ten (10) years at an exercise price equal to the greater of (i) the Fair Market Value (as defined in the Company’s stock option plan) on the date of the stock option grant and (ii) $0.35 per share. Except as
otherwise provided in Sections 4(d)(iii) and 5 below, the stock options shall vest during your employment with the Company over a period of five (5) years beginning on the Effective Time, at the rate of twenty percent (20%) after the first year and
on a monthly basis thereafter throughout years two (2) through five (5) (so as to be fully vested at the end of a period of five (5) years after the Effective Time). Each stock option grant shall be in the form of incentive stock options in the
maximum amount permitted by applicable law. To the extent that any such stock option grant shall be in the form of non-qualified stock options (either by initial grant or by reason of any incentive stock options being disqualified as such), you
shall be permitted to exercise such non-qualified stock options for a period of five (5) years following the termination of your employment for any reason; provided, that if you are terminated for Cause (as defined below) you may exercise such
non-qualified stock options only during the ninety (90) day period following the termination of your employment. 
 
(d) Employee Benefits. During your employment with the Company, you shall be entitled to participate in the employee benefit plans
currently and hereafter maintained by the Company which shall include, without limitation, the following: 
 
(i) group PPO medical and dental insurance plans (the coverage under which shall include your dependents and contain no
restrictions relative to pre-existing conditions and no waiting period prior to coverage becoming effective); 
 

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(ii) short-term disability insurance and long-term disability insurance with a benefit of at least sixty percent (60%) of predisability income up to a maximum benefit of $250,000 annually (which coverage shall contain no restrictions
relative to pre-existing conditions). The Company shall continue to provide for your benefit additional long-term disability coverage up to a maximum benefit of $250,000 annually, at your expense (but only to the extent of the premium cost for the
annual benefit in excess of $72,000), at the group rates applicable to the Company (which coverage shall contain no restrictions relative to pre-existing conditions); 
 
(iii) term life insurance in the amount of $500,000, with your having the right to designate
the beneficiary(ies) thereof; 
 
(iv) participation in the Company’s 401(k) plan, your contributions to which may be matched by the Company with contributions of shares of its common stock if approved by the Board; provided that any such matching contributions
shall vest over three (3) years of service; 
 
(v) participation in the Company’s Flexible Spending Account; and 
 
(vi) participation in the Company’s Stock Purchase Plan, allowing purchase of shares of the Company’s common
stock at fifteen percent (15%) below the market price. 
 
The Company reserves the right to revise, add or rescind any benefits at any time for its employees generally; provided that any such permitted revision, addition or rescission of benefits by the Company shall be without prejudice to
your rights provided in Section 4(d) hereof. 
 
(e)
Vacation Days; Sick Days; Holidays. You shall be entitled to paid vacation, sick days and holidays in accordance with the Company’s policies as in effect from time to time. 
 
(f) Expenses. The Company shall reimburse you for reasonable travel, entertainment or other expenses
incurred by you in the furtherance of or in connection with the performance of your duties hereunder, in accordance with the Company’s expense reimbursement policy as in effect from time to time. 
 
3. Loan. The Company previously provided to you an
interest-free loan in the amount of $400,000 (the “Loan”). As of the date hereof, the Company has forgiven forty percent (40%) of the original principal amount of the Loan and the balance of the Loan shall continue to be forgiven by the
Company at the rate of twenty percent (20%) of the original principal amount of the Loan each year on the anniversary date in accordance with the original terms thereof until the Loan has been fully forgiven on January 3, 2006, provided, however,
that the Loan shall be fully forgiven in the event of termination of your employment due to your death or permanent disability (as hereinafter defined). In the event that it shall be determined that any payment shall be due by you for taxes of any

 

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kind or nature relating to the forgiveness of the Loan or the imputation of interest in connection therewith (“Taxes”), the Company
shall deliver to you an additional payment in an amount such that, after payment of any taxes applicable to such additional payment by the Company, the net amount available to you after payment of all such taxes shall be equal to the Taxes payable
by you, together with any interest or penalties associated therewith (a “Gross-Up Payment”). 
 
4. Termination. 
 
(a) At-Will Employment. You and the Company agree that your employment with the Company shall be “at-will” employment,
that you are free to resign and, subject to the provisions hereof, the Company is free to terminate your employment at any time, without notice, procedure or formality, with or without Cause (for any reason or no reason). 
 
(b) Voluntary Termination; Termination for Cause. In
the event that your employment with the Company is terminated voluntarily by you or for Cause by the Company, then (i) all options which have vested shall continue to be exercisable in accordance with the terms of Section 2(c) of this Agreement, the
Company’s stock option plan and applicable legal requirements; (ii) all payments of Base Salary and bonuses accrued but unpaid on the date of termination, as well as all expenses incurred to the date of termination, shall be due and payable to
you immediately and all further compensation by the Company to you hereunder shall terminate as of the date of termination; (iii) the unforgiven balance of the Loan shall be repaid by you within thirty (30) days of the date of termination; and (iv)
you shall be entitled to continue medical and dental insurance coverage for yourself and your dependents, at your expense, at the same level of coverage as was provided to the you under the Company’s insurance plan immediately prior to the
termination (“Health Care Coverage”) by electing COBRA continuation coverage (“COBRA”) in accordance with applicable law. 
 
(c) Termination upon Death or Disability. In the event that your employment with the Company is terminated as a result of your
death or permanent disability then (i) all options which have vested shall continue to be exercisable in accordance with the terms of Section 2(c) of this Agreement, the Company’s stock option plan and applicable legal requirements; (ii) the
Company shall pay to you or your estate, as applicable, all payments of Base Salary and bonuses accrued but unpaid on the date of termination, as well as expenses incurred to the date of termination, immediately upon the date of termination and all
further compensation by the Company to you hereunder shall terminate as of the date of termination; (iii) the Company shall forgive all amounts owed by you or your estate, as applicable, in connection with the Loan and make any necessary Gross-Up
Payment; and (iv) you shall be entitled to continue medical and dental insurance coverage for yourself and your dependents, at your expense, at the same level of coverage as was provided to you under the Company’s Health Care Coverage by
electing COBRA in accordance with applicable law. For purposes hereof, the term “permanent disability” shall mean your inability to perform your duties hereunder on account of illness, accident or other physical or mental incapacity which
shall continue 
 

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for a consecutive period of ninety (90) days or an aggregate of one hundred twenty (120) days in any consecutive twelve-month period.

 
(d) Termination without Cause or for Good
Reason. In the event that your employment with the Company is terminated by the Company without Cause or by you for Good Reason, then (i) all options which have vested shall continue to be exercisable in accordance with the terms of Section 2(c)
of this Agreement, the Company’s stock option plan and applicable legal requirements; (ii) all payments of Base Salary and bonuses accrued but unpaid on the date of termination, as well as all expenses incurred to the date of termination, shall
be due and payable to you immediately; (iii) subject to the provisions of Section 5 hereof, fifty percent (50%) of all unvested options shall become fully vested and exercisable, and the remaining fifty percent (50%) of your unvested options shall
terminate; (iv) the Company shall forgive all amounts owed by you in connection with the Loan and make any necessary Gross-Up Payment; (v) the Company shall pay to you a severance payment, in monthly installments, equal to your Base Salary plus the
lesser of your full annual target bonus for the then current calendar year (which shall be equal to thirty percent (30%) of your then current Base Salary) or the average of your actual annual bonuses for the previous two (2) calendar years, for a
period of twelve (12) months; provided, however, that either in the event you are terminated without Cause within twelve (12) months after the Effective Time or the termination is a result of a Change of Control (whether due to termination without
Cause or your termination for Good Reason following a Change of Control) the amount of such severance payment shall be eighteen (18) months’ severance; provided, further, that in the event you obtain other employment during the applicable
twelve (12) or eighteen (18) months severance period, your severance payments thereafter shall be reduced on a prospective basis (not to less than 0) in the amount of cash compensation received by you during the remainder of such applicable
severance period; and (vi) the Company shall be responsible for all costs relating to maintaining your Health Care Coverage for you and your dependents under COBRA for the shorter of eighteen (18) months or for so long as allowed by law; provided,
however, that such Health Care Coverage shall terminate upon your obtaining comparable Health Care Coverage from a future employer (after taking into account any waiting periods for such coverage to become effective). 
 
5. Change of Control. Notwithstanding anything to the
contrary contained herein, in the event of a Change of Control of the Company, then (i) all options which have vested shall continue to be exercisable in accordance with Section 2(c) of this Agreement, the Company’s stock option plan and
applicable legal requirements; (ii) one hundred percent (100%) of the unvested options shall vest one (1) year after the Change of Control; (iii) the Company shall forgive all amounts owed by you in connection with the Loan and make any necessary
Gross-Up Payment; and (iv) to the extent that such Change of Control results in your termination, whether by the Company without Cause or by you for Good Reason, the Company shall pay to you a severance payment in accordance with the provisions of
Section 4(d) above, plus one hundred percent (100%) of the unvested options shall vest immediately upon such termination. Notwithstanding the foregoing, to the extent that the acceleration of vesting as contemplated in clause (ii) above shall cause
the options to not qualify as incentive stock options under applicable tax laws, you shall be entitled to require that the Company not accelerate the vesting of 
 

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all or part of your unvested stock options in such manner as shall preserve the status of the options as incentive stock options.

 
6. Non-Disclosure/Invention Assignment
Agreement; Non-Competition/Non-Solicitation Agreement. You acknowledge that you previously have entered into the Company’s standard Non-Disclosure and Invention Assignment Agreement upon commencing employment hereunder, in the forms of
Attachment A and Attachment B hereto. In addition, you agree to enter into the Non-Competition/Non-Solicitation Agreement in the form of Attachment C hereto. 
 
7. Directors’ and Officers’ Liability Policy. You will be covered under the Company’s
directors’ and officers’ liability insurance policy, which shall provide coverage in an amount and upon terms customary to similarly situated companies. The Company shall maintain such policy throughout the duration of your employment.

 
8. Expenses associated with this
Agreement. The Company shall reimburse you for all expenses incurred by you in the preparation, review and negotiation of this Agreement, including, without limitation, reasonable attorneys’ fees and accountants’ fees. 
 
9. Indemnification. The Company agrees that if you are
made a party or are threatened to be made a party to any action, suit or proceeding, whether civil, criminal, administrative or investigative (a “Proceeding”), by reason of the fact that you are or were a director or officer of the Company
or any subsidiary or affiliate of the Company, whether or not the basis of such Proceeding is alleged action in an official capacity as a director, officer, employee or agent, you shall be indemnified and held harmless by the Company to the fullest
extent authorized by Delaware law, as the same exists or may hereafter amended, against all damages, losses, judgments, liabilities, fines, penalties, excise taxes, settlements and costs, including reasonable attorneys’ fees, accountants’
fees and disbursement, incurred or suffered by you in connection therewith (including the advancement of your defense costs and expenses as and when incurred) and such indemnification shall continue as to you even if you have ceased to be an
officer, director or agent and are no longer employed by the Company and shall inure to the benefit of your heirs, executors and administrators. 
 
10. Assignment. This Agreement shall be binding upon and inure to the benefit of (a) your heirs, executors and legal
representatives upon your death and (b) any successor of the Company. Any such successor of the Company shall be deemed substituted for the Company under the terms of this Agreement for all purposes. For this purpose, “successor” means any
person, firm, corporation or other business entity which at any time, whether by purchase, merger or otherwise, directly or indirectly acquires all or substantially all of the assets or business of the Company. 
 
11. Notices. All notices, requests, demands and other
communications provided hereunder shall be in writing and shall be deemed given (i) on the date of delivery if delivered personally, (ii) one (1) day after being sent by a well established commercial overnight service, or (iii) four (4) days after
being mailed by registered or 
 

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certified mail, return receipt requested, prepaid and addressed to the parties or their successors at the following addresses, or at such
other addresses as the parties may later designate in writing: 
 
If to the Company: 
 
RIBOZYME PHARMACEUTICALS, INC. 
2950 Wilderness Place

Boulder, Colorado 80301 
Attn: Chairman of the Board 
 
If to you: 
 
at the last residential address known by the Company. 
 
12. Severability. In the event that any provision hereof becomes or is declared by a court of
competent jurisdiction to be illegal, unenforceable or void, this Agreement shall continue in full force and effect without said provision. 
 
13. Integration. Upon the Effective Time, this Agreement, together with the Non-Disclosure and Invention Assignment Agreement
represents the entire agreement and understanding between the parties as to the subject matter herein and supersedes all prior or contemporaneous agreements whether written or oral, including without limitation the Change of Control Agreement, dated
as of April 30, 2001, between you and the Company and, except as expressly provided in Section 16 below, the Current Agreement. No waiver, alteration, or modification of any of the provisions of this Agreement shall be binding unless in writing and
signed by duly authorized representatives of the parties hereto. 
 
14. Governing Law. This Agreement shall be governed by and interpreted in accordance with the laws of the State of Colorado, without reference to principles of conflict of laws. 
 
15. Sale of Stock. You shall have the opportunity to
exercise your vested options and sell any Company capital stock owned by you in reasonable quantities, consistent with legal and your Company obligations. 
 
16. Conditional Waiver of Change of Control. You agree to waive the occurrence of a Change of Control under the Current Agreement,
but only with respect to the Financing, subject, however, to the condition that such waiver shall not be considered to be a material modification of the Loan under the Sarbanes-Oxley Act of 2002 (the “Act”), which would prohibit a loan to
an officer or director of the Company after the effective date thereof. In the event that such waiver would constitute a material modification of the Loan under the Act, your waiver hereunder shall have no force or effect, and you will be entitled
to all of your rights relating to the Loan under the Current Agreement and this Agreement with respect to the Change of Control by reason of the Financing. 
 

7 

 
17.
Effective Time. This Agreement shall become effective at the Effective Time. 
 
Please sign this Agreement and return one signed original copy to me, acknowledging your agreement with and acceptance of these terms of employment. 
 

	 Sincerely,

	
	 RIBOZYME PHARMACEUTICALS, INC.

	
	 By:
	 	 /s/    JEREMY CURNOCK
COOK        

	 Name:
	 	 Jeremy Curnock Cook

	 Title:
	 	 Chairman of the Board of Directors

 
Agreed and accepted: 
 

	
	 /s/    HOWARD W.
ROBIN        

	 Howard W. Robin

 
Dated: February 11, 2003 
 
Acknowledged and agreed: 
 

	
	 OXFORD BIOSCIENCE PARTNERS

	
	 By:
	 	 /s/    ALAN G.
WALTON        

	 Name:
	 	 Alan G. Walton

	 Title:
	 	 General Partner

	
	 THE SPROUT GROUP

	
	 By:
	 	 /s/    CRAIG
SLUTZKIN        

	 Name:
	 	 Craig Slutzkin

	 Title:
	 	 Vice President of DLJ Corporation
 and DLJ Plans Management Corp (General Partner)

	
	 VENROCK ASSOCIATES

	
	 By:
	 	 /s/    BRYAN
ROBERTS        

	 Name:
	 	 Bryan Roberts

	 Title:
	 	 General Partner

 

8 

Appendix 1 
 
DEFINITIONS 
 
Cause. “Cause” is defined as (i) conviction of a felony crime involving moral turpitude, (ii) an intentional action or
intentional failure to act which was performed in bad faith and to the material detriment of the Company, (iii) continued intentional refusal or intentional failure to act in accordance with any lawful and proper direction or order of the Board,
(iv) willful and habitual neglect of the duties of employment, or (v) breach of the Non-Disclosure Agreement, contemplated hereunder; provided, however, that with respect to the events of “cause” described under clauses (ii) through (v)
above, the Company shall have first provided to you written notice describing the nature of the event and, thereafter, provided a reasonable opportunity to cure such event, which reasonable opportunity shall in no event be less than thirty (30) days
following receipt of such notice. 
 
Change of
Control. “Change of Control” of the Company is defined as: (i) any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended) becomes the “beneficial owner” (as
defined in Rule 13d-3 under said Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the total voting power represented by the Company’s then outstanding voting securities; or (ii) the
consummation of a merger or consolidation of the Company with any other corporation that has been approved by the stockholders of the Company, other than a merger or consolidation which would result in the voting securities of the Company
outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than fifty percent (50%) of the total voting power represented by the voting
securities of the Company or such surviving entity outstanding immediately after such merger or consolidation, or the stockholders of the Company approve a plan of complete liquidation of the Company; or (iii) the consummation of the sale or
disposition by the Company of all or substantially all the Company’s assets; or (iv) when the individuals who on the date hereof constitute the Board and any new director (other than a director designated by a person or entity who has entered
into an agreement to effect a transaction described in clause (i), (ii) or (iii) above), whose nomination and/or election to the Board was approved by a vote of at least a majority of the directors still in office who either were directors on the
date hereof or whose election or nomination for election was previously approved, cease for any reason to constitute a majority of the Board. For the avoidance of doubt, the Financing in no event shall be deemed a Change of Control for the purposes
of this Agreement except as expressly provided in Section 16 of this Agreement. 
 
Good Reason. “Good Reason” is defined as your voluntary resignation from your employment with the Company upon the occurrence of any of the following without your express written
consent: (i) the assignment to you of any duties or responsibilities 
 

9 

inconsistent with the scope of the duties or responsibilities associated with your titles or positions or any diminution to or adverse change
of your titles, positions, status or circumstances of employment; (ii) a reduction by the Company in your Base Salary or bonus target percentage or, absent a good business reason, of the facilities, benefits and perquisites available to you
immediately prior to such reduction; (iii) the taking of any action by the Company which would adversely affect your participation in, or reduce your benefits under, the Company’s benefit plans (including equity benefits) as of the date of
execution hereof, except to the extent that the benefits of all other employees of the Company are similarly reduced; provided, that regardless of whether the Company may similarly reduce the benefits of other employees, it shall constitute Good
Reason in the event the Company takes any action which would adversely affect your participation in, or adversely affect or reduce in any material aspect your benefits under, the Company’s medical, dental, short-term disability and/or long-term
disability benefit plans or arrangements; (iv) a relocation of your principal office to a location more than thirty (30) miles from Boulder, Colorado, except for reasonable periods of required travel on Company business; (v) any breach by the
Company of any material provision of this Agreement; or (vi) any failure by the Company to obtain the assumption of this Agreement in writing by any successor or assign of the Company. 
 

10

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