Document:

Letter Agreement, dated Dec. 30,2004, by and between Nektar and Nevan C. Elam

 Exhibit 10.56 
  
 December 30, 2004 
  

Nevan Elam 
  
 Dear Nevan: 
  
 I am pleased and excited to offer you the position of General Counsel and Secretary at Nektar Therapeutics, reporting to Ajit Gill, CEO and President. Your targeted
compensation will be $375,000.00 on an annual basis. Of this amount, your fixed compensation will be $281,250.00 and your target variable compensation at 25% will be $93,750.00 per year. Of this variable amount ($93,750.00), the first 6 months of
the first year of employment will be guaranteed at 100% regardless of company performance. 
  
 In addition, you will receive a sign-on bonus of $50,000.00. You will receive half of this amount ($25,000) at 3 months from date of hire and the remaining balance ($25,000) at 9 months from date of hire. This amount
will be subject to payroll withholding and deductions. If your employment terminates other than “without cause” by Nektar or if you resign before your first anniversary, you agree to reimburse Nektar for the full amount of this sign-on
bonus. 
  
 You are also eligible to participate in the Nektar Stock Option Plan.
Subject to the approval of the Compensation Committee, you will be granted an option to purchase 80,000 shares in accordance with this plan. The price of the shares from the Stock Option Plan will be set at the closing price of Nektar’s stock
on the day preceding your date of hire. You will also be eligible to participate in Nektar’s benefits program including Medical, Dental and Vision Insurance, Term Life Insurance, 401(k), Flexible Health Spending Account and Short & Long
Term Disability. 
  
 Nevan, we are delighted to offer you an opportunity to be
part of Nektar. As a key member of the Senior Management team, we expect you will play an important role in building our company. In a rapidly growing company like Nektar, quality and committed people like you are the major ingredients of success.

  
 Your employment is by continued mutual agreement and may be terminated without
cause by either you or the company at any time without any obligation or compensation by either party. 

 In compliance with the terms of the Federal Immigration Reform and Control Act, you will be required to provide us with
proof of authorization to work and proof of identity. 
  
 This offer is valid
through January 7, 2005 
  
 Sincerely, 
  

			
	 /s/ EG Frisby

	
	Elizabeth Frisby
	Vice President, Human Resources
	
	OFFER ACCEPTED:
		
	 /s/ Nevan Elam

	 	 1/3/05

	Nevan Elam	 	Date
		
	 1/17/05

	 	 
	Start DateLetter Agreement dated Nov. 9, 2003 by and between Nektar and David Johnston

 Exhibit 10.57 
  
 David Johnston 
  
 November 9, 2003 
  
 Dear David, 
  
 I am pleased and excited to offer you the position of Senior Vice President, Research and Development at Nektar, reporting to me. Your targeted compensation will be
$400,000.00 on an annual basis. Of this amount, your fixed compensation will be $300,000.00 and your target variable compensation at 25% will be $100,000.00 per year. 
  
 In addition, you will receive a sign-on bonus of $30,000.00, which will be paid to you in your first paycheck. This amount will be subject
to payroll withholding and deductions. If your employment terminates other than ‘without cause’ by Nektar or if you resign before your first anniversary, you agree to reimburse Nektar for the full amount of this sign-on bonus. 

 
 You are also eligible to participate in the Nektar Stock Option Plan. Subject to the
approval of the Option Grant Subcommittee, you will be granted an option to purchase 50,000 shares in accordance with this plan. The option price will be set at the closing price of Nektar’s stock on the day preceding your date of hire. You
will also be eligible to participate in Nektar’s benefits program including Medical, Dental and Vision Insurance, Term Life Insurance, 401(k), Flexible Health Spending Account and Short & Long Term Disability. 
  
 Nektar will provide you with the following relocation items: 
  

	 	•	 	Partial shipment of your household goods from Wilmington, NC to your new apartment in the SF Bay Area. 

  

	 	•	 	Shipment of your household goods from Wilmington, NC to the SF Bay Area. 

  

	 	•	 	Storage of your household goods up to 12 months. 

  

	 	•	 	Temporary housing for you and your family up to 60 days (The cost of this housing is taxable to you and will be included in your total W-2 income). 

  

	 	•	 	Travel for you and your family to the SF Bay Area. 

  

	 	•	 	Use of a rental car for up to 14 days or until your car arrives. 

 You will also receive a relocation allowance of $10,000.00, which will be paid to you in your first paycheck. This amount
will be subject to payroll withholding and deductions. If your employment terminates other than ‘without cause’ by Nektar or if you resign before your first anniversary, you agree to reimburse Nektar for the full amount. 
  
 Moreover, provided you take advantage of the following portion of the relocation assistance
package within your first 12 months of employment with Nektar, Nektar will: 
  

	 	•	 	Provide normal and customary closing costs on the sale of your home in, Wilmington NC. Those items considered not deductible for income tax purposes will be ‘grossed up’
and added to those costs considered deductible. (That portion is subject to withholding.) We will provide you an amount up to 6% of the sale. 

  

	 	•	 	Provide normal and customary closing costs, loan discount points not to exceed 1%, on the purchase of a home in the Bay Area. Those items considered not deductible for income tax
purposes will be ‘grossed up’ and added to those costs considered deductible. (That portion is subject to withholding.) We will provide you an amount up to 3% of the purchase. 

  
 In the event that you should voluntarily terminate your employment with Nektar or be
terminated other than ‘without cause’ by Nektar within one (1) year after these closings, you agree that you will reimburse Nektar for the full amount of these closing costs. 
  
 Nektar will also provide you with the following rental assistance: 
  

	 	•	 	1st year $34,000.00 (paid over 24 pay periods and subject to withholding) 

  
 You are eligible to receive reimbursement for all expenses noted above as they relate to your relocation. However, if you voluntarily elect to terminate your employment
within twelve months of the effective date a relocation expense was incurred, you agree to repay the relocation dollars reimbursed and/or advances, including all expenses that were directly billed to Nektar. (See attached Repayment Agreement).

  
 David, we are delighted to offer you an opportunity to be part of Nektar. As a
key member of the Research and Development team, we expect you will play an important role in building our company. In a rapidly growing company like Nektar, quality and committed people like you are the major ingredients of success. 
  
 Your employment is by continued mutual agreement and may be terminated at will with or
without cause by either you or the company at any time with or without advanced notice. 

 In compliance with the terms of the Federal Immigration Reform and Control Act, you will be required to provide us with
proof of authorization to work and proof of identity. 
  
 This offer is valid
through Tuesday November 11, 2003, and is contingent upon the verification by Nektar of information you have provided to us regarding your qualifications for employment. 
  

	
	 Sincerely,

	
	 /s/ Ajit Gill

	 Ajit Gill

	 President and CEO

  

			
	OFFER ACCEPTED:
		
	 /s/ David Johnston

	 	 11/10/03

	David Johnston	 	Date
		
	  

 Start
DateAmendment to Letter Agreement dated November 21, 2003

 Exhibit 10.58 
  
 Addendum of Offer of Employment 
  
 David Johnston 
  
 November 21, 2003 
  
 Dear David, 
  
 This letter is to inform you of an addendum to your Offer of Employment signed in November 2003, with Nektar Therapeutics. 
  
 In addition to all other terms and agreements provided in your signed Offer of Employment and
to assist you with your relocation to the San Francisco Bay Area, Nektar agrees to provide you with a second move of household goods from your apartment in Boston, MA to your new permanent residence in the San Francisco Bay Area. Up to 12 months
storage in transit will also be offered with this shipment. 
  
 Per the terms of
the Nektar relocation policy supplied to you in your original Offer of Employment, in the event that you should voluntarily terminate your employment with Nektar or be terminated other than “without cause” by Nektar within one (1) year
after this relocation expense has incurred on your behalf, you agree to repay the pro-rated relocation dollars. (Including all expenses and closing costs that were directly billed to Nektar). 
  
 All other terms and conditions of your Offer of Employment are and will remain in effect.

  
 Sincerely, 
  

			
	 /s/ EG Frisby

	
	Elizabeth G. Frisby
	Vice President, Human Resources
	
	OFFER ACCEPTED:
		
	 /s/ David Johnston

	 	 12/11/03

	David Johnston	 	DateForm of Promissory Note

 EXHIBIT 10.13 
  
 THE INDEBTEDNESS EVIDENCED BY THIS INSTRUMENT IS SUBORDINATE TO THE PRIOR PAYMENT IN FULL OF CERTAIN SENIOR DEBT (AS DEFINED IN THE
SUBORDINATION AGREEMENT HEREINAFTER REFERRED TO) PURSUANT TO, AND TO THE EXTENT PROVIDED IN, THAT CERTAIN SUBORDINATION AGREEMENT DATED AS OF NOVEMBER 5, 2004 IN FAVOR OF ENTERPRISE BANK & TRUST, AS THE SAME MAY BE AMENDED, RESTATED,
CONSOLIDATED, REPLACED OR OTHERWISE MODIFIED FROM TIME TO TIME. THIS INSTRUMENT MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED UNTIL THE PURCHASER, ASSIGNEE OR TRANSFEREE HAS BECOME A PARTY TO AND BOUND BY SUCH SUBORDINATION AGREEMENT.

  
 PROMISSORY NOTE 
  

			
	 $                        
	  	 Kansas City, Missouri

  
 November 5, 2004

  
 FOR VALUE RECEIVED, the undersigned, Inergy Holdings, LLC, a
Delaware limited liability company (“Holdings”), hereby promises to pay to the order of              (“Member”), the principal sum of
                         Dollars ($            .00)
(the “Loan”), together with interest on the principal amount outstanding hereunder from time to time as hereinafter provided. 
  
 Holdings agrees to pay interest on the unpaid principal amount of this Note at the rate of 6.0% per annum. Interest shall be computed on the basis of a
360-day year for the actual number of days elapsed. Interest shall accrue from and including
 November 16, 2004 and shall be payable on February 15th, May 15th, August 15th and November 15th of each year during the term of the Loan (each, a
“Payment Date”), commencing on February 15, 2005. 
  
 Holdings agrees to make payments of principal in consecutive quarterly installments of                         
($            .00), commencing on February 15, 2005, and continuing on each Payment Date thereafter until the November 15, 2014 maturity date, when all remaining unpaid principal and
interest on this Note shall be due and payable in full. 
  
 The
indebtedness evidenced by this Note is expressly subordinate and junior in right of payment to the loans, advances, debts, liabilities and other obligations (the “Senior Debt”) owing, arising, due or payable from Holdings to Enterprise
Bank & Trust, to the extent and in the manner set forth in the Shareholder Debt Subordination Agreement between Holdings and Enterprise Bank & Trust. Holdings shall not make any payment of the principal or interest on this Note while it is
in default with respect to any Senior Debt. This Note is unsecured and entered into by Holdings without guarantee or credit assurance. 

 If any payment hereunder becomes due on a Saturday, Sunday or legal holiday under the law of the State of
Missouri, the due date hereof shall be extended to the next succeeding business day and any payment made on such next succeeding business day shall be made with the same effect as though made on the due date. 
  
 Holdings shall have the right to prepay the Loan, in full or in part without
premium or penalty. 
  
 Payments upon this Note shall be made in
lawful money of the United States of America, and shall be made at such place as Member may from time to time in writing appoint, provided that in the absence of such appointment, all payments hereon shall be made to Member at Two Brush Creek
Boulevard, Suite 200, Kansas City, Missouri 64112. 
  
 All
payments on the account of the indebtedness evidenced by this Note shall be applied (a) first to interest on the unpaid principal balance hereof at the rate specified above, and (b) the remainder to reduce the outstanding principal balance (first to
principal amounts overdue, then to principal amounts currently due and then to installments of principal due in the future in the inverse order of their maturity). 
  
 All notices required or permitted to be given hereunder to Holdings shall be given by (a) personal delivery, (b) Federal
Express or other overnight delivery service, or (c) certified mail, return receipt requested, and in each case addressed to Holdings at Two Brush Creek Boulevard, Suite 200, Kansas City, MO 64112, Attention: Laura Ozenberger. Such notices shall be
deemed given (i) on receipt of personal delivery, (ii) on the first business day following the day deposited with Federal Express or other overnight delivery service, and (iii) on the third business day following the day deposited in the U.S. mails.

  
 This Note shall be governed by and construed and enforced in
accordance with the laws of the State of Missouri, without regard to conflict of law principles. 
  
 IN WITNESS WHEREOF, the undersigned has duly caused this Note to be executed and delivered at the place specified above and as of the date first written
above. 
  

			
	INERGY HOLDINGS, LLC, a Delaware limited liability company
		
	 By:
	 	 
	 	 	 Name: John J. Sherman
 Title: President

  

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