Document:

Amendment to the Employment Agreement between Donald Santel and Registrant

 EXHIBIT 10.18 
  
 COTHERIX, INC. 
 5000 Shoreline Court, Suite 101 
 South San Francisco, CA 94080 
  
  
 August 30, 2004 
  
 Donald Santel 
  
 Dear Don: 
  
 CoTherix, Inc. (the “Company”) is pleased to offer you an amendment (the “Amendment”) to your employment
terms, as set forth in the Executive Employment Agreement between you and the Company, dated October 8, 2003 (the “Employment Agreement”). The employment terms set forth in this Amendment are effective as of August 30, 2004 (the
“Amendment Date”). Unless this Amendment specifically states that it supersedes a term in the Employment Agreement, the terms of the Employment Agreement shall remain binding and in full force and effect. 
  
 1.    Title. Your title will be Chief Executive
Officer. Consequently, the following sections in the Employment Agreement shall be amended as follows: 
  

	 	a.	The second “Whereas” in the Employment Agreement will be replaced in its entirety by the following paragraph: 

  
 “WHEREAS, the Company and Executive hereby agree that effective as of
October 8, 2003, Executive served as President and Chief Operating Officer of the Company and effective as of August 30, 2004 (the “Amendment Date”), Executive resigned as President and Chief Operating Officer and attained the role of
Chief Executive Officer, under the terms of this Agreement.” 
  

	 	b.	Section 1 of the Employment Agreement will be replaced in its entirety by the following paragraph: 

  
 “From the Amendment Date, the Executive will serve as the Company’s Chief Executive Officer and
continue as a member of the Company’s Board of Directors. Executive hereby agrees that he has resigned as President and Chief Operating Officer of the Company, effective as of the Amendment Date. The duties, authorities, powers and
responsibilities of the Executive as Chief Executive Officer shall be those typical for such position in the industry, as well as those that the Company’s Board of Directors may from time to time reasonably assign to the Executive. The
Executive shall perform faithfully and competently such services and duties during his employment and the Executive shall report to the Company’s Board of Directors. By signing this Agreement, Executive confirms to the Company that Executive
has no contractual commitments or other legal obligations that would 

 Donald Santel 
 August
30, 2004 
  Page
 2
 
  

 
prohibit Executive from performing Executive’s duties for the Company.” 
  

	 	c.	The term “President and Chief Operating Officer” shall be changed to “Chief Executive Officer” in paragraph 4 of Section 5, which defines “Cause” for
purposes of the Employment Agreement. This “Cause” definition will also be revised, in accordance with this Section 1c, for purposes of the stock option agreement evidencing the option to purchase shares of the Company’s common stock
that was granted to you pursuant to the Employment Agreement. 

  
 2.    Base Salary. Your base salary will be at an annual rate of $285,000. The term “$235,000” in Section 3 of the Employment Agreement will be replaced with “$285,000”.

  
 3.    Bonus. Your annual target
bonus will be 35% of Base Salary. The term “50%” in Section 4 of the Employment Agreement will be replaced with “35%”. 
  
 4.    Option Grant. As of the date of this Amendment, you have been granted an option (“Promotion Option”) to
purchase 250,000 shares of the Company’s common stock under the terms of the Company’s Amended and Restated 2000 Stock Plan (the “Plan”) and the applicable stock option agreement (which agreement shall be consistent in its terms
with the terms of Section 5 of the Employment Agreement and this paragraph 4). The exercise price per share will be equal to the fair market value per share on the Amendment Date. To the extent that you request, the option will be immediately
exercisable, but the unvested portion of the purchased shares will be subject to repurchase by the Company at the exercise price in the event that your service terminates for any reason before you vest in the shares. You will vest in 25% of the
option shares after 12 months of continuous service from the Amendment Date, and the balance will vest in equal monthly installments over the next 36 months of continuous service, as described in the applicable stock option agreement. The Promotion
Option will be subject to all of the vesting acceleration terms described in Section 5 of the Employment Agreement. 
  
 5.    Legal Fees. The Company shall reimburse Executive for the reasonable attorneys fees incurred by him with respect to the
negotiation and drafting of this Amendment, up to a maximum amount of $2,000. 
  
 6.    Supersedes. This Amendment supersedes any prior understandings, representations or agreements, whether oral or written, between you and the Company regarding the subject matter
described herein, provided that unless specifically superseded by this Amendment, the terms of the Employment Agreement remain in full force and effect. 
  
 7.    Period of Employment. Your employment with the Company is and continues to be “at will,” as described in
Section 2 of the Employment Agreement. 
  
 8.    Amendment. This Amendment may not be revised or modified, except by an express written agreement signed by you and an authorized member of the Company’s Board of Directors (other than you). 

 Donald Santel 
 August
30, 2004 
  Page
 3
 
  

 We hope that you find the foregoing terms acceptable. You may indicate your agreement with these
terms and accept this Amendment by signing and dating the Amendment and returning it to me. 
  
 If you have any questions, please call me. 
  

			
	 Very truly yours,

	
	 COTHERIX, INC.

		
	 By:
	 	 /s/    Daniel S. Janney

	 	 	 Daniel S. Janney

	 	 	 Title: Member of Board of Directors

  
 I have read, understand and
accept the terms of this Amendment to my Employment Agreement: 
  

			
	 By:
	 	 /s/    Donald Santel

	 	 	 Donald Santel

		
	 Date:
	 	 August 30, 2004Amendment to the Employment Offer Letter between Thomas L. Feldman & Registrant

 EXHIBIT 10.19 
  
 COTHERIX, INC. 
 5000 Shoreline Court, Suite 101 
 South San Francisco, CA 94080 
  
 August 30, 2004 
  
 Thomas L. Feldman 
  

 
 Dear Tom: 
  
 CoTherix, Inc. (the “Company”) is pleased to offer you an amendment
(the “Amendment”) to your employment terms, as set forth in the offer letter between you and the Company, dated December 5, 2003 (the “Offer Letter”). The employment terms set forth in this Amendment are effective as of August
30, 2004 (the “Amendment Date”). Unless this Amendment specifically states that it supersedes a term in the Offer Letter, the terms of the Offer Letter shall remain binding and in full force and effect. 
  
 1.    Title. Your title will be President and
Chief Business Officer. The term “Chief Commercial Officer” in Section 1 of the Offer Letter will be replaced with “President and Chief Business Officer”. 
  
 2.    Base Salary. Your base salary will be at an annual rate of $275,000. The term
“$240,000” in Section 2 of the Offer Letter will be replaced with “$275,000”. 
  
 3.    Option Grant. As of the date of this Amendment, you have been granted an option (“Promotion Option”) to
purchase 200,000 shares of the Company’s common stock under the terms of the Company’s Amended and Restated 2000 Stock Plan (the “Plan”) and the applicable stock option agreement. The exercise price per share will be equal to the
fair market value per share on the date the option is granted. To the extent that you request, the option will be immediately exercisable, but the unvested portion of the purchased shares will be subject to repurchase by the Company at the exercise
price in the event that your service terminates for any reason before you vest in the shares. You will vest in 25% of the option shares after 12 months of continuous service from the Amendment Date, and the balance will vest in equal monthly
installments over the next 36 months of continuous service, as described in the applicable stock option agreement. If the Company is subject to a Change in Control (as defined in the Plan) before your service with the Company terminates and you are
subject to an Involuntary Termination (as defined herein) within 12 months after that Change in Control, then the vested percentage of your option shares will be determined by adding another 12 months to the actual period of service that you have
completed with the Company. 
  
 4.    Definitions. For purposes of the Offer Letter and this Amendment, the following terms are defined as follows: 

 Thomas L. Feldman 
 August 30, 2004 
  Page
 2
 
  

	 	a.	“Involuntary Termination” shall mean the termination of your service by reason of (i) your involuntary discharge by the Company for reasons other than Cause or (ii) your
voluntary resignation following (A) a change in your position with the Company that materially reduces your level of authority or responsibility, (B) a reduction in your base salary by more than 10% or (C) receipt of notice that your principal
workplace will be relocated more than 30 miles. 

  

	 	b.	“Cause” shall mean (i) an unauthorized use or disclosure of the Company’s confidential information or trade secrets, which use or disclosure causes material harm to
the Company, (ii) a material breach of any agreement between you and the Company, (iii) a material failure to comply with the Company’s written policies or rules, (iv) conviction of, or plea of “guilty” or “no contest” to, a
felony under the laws of the United States or any state thereof, (v) gross negligence or willful misconduct or (vi) a continued failure to perform assigned duties after receiving written notification of such failure from the Company’s Board of
Directors. The foregoing, however, is not an exclusive list of all acts or omissions that the Company may consider as grounds for discharging you without Cause. 

  
 5.    Supersedes. This Amendment supersedes any prior understandings, representations or
agreements, whether oral or written, between you and the Company regarding the subject matter described herein, provided that unless specifically superseded by this Amendment, the terms of the Offer Letter remain in full force and effect.

  
 6.    Period of Employment. Your
employment with the Company is and continues to be “at will,” as described in Section 7 of the Offer Letter. 
  
 7.    Amendment. This Amendment may not be revised or modified, except by an express written agreement signed by you and an
authorized member of the Company’s Board of Directors. 

 Thomas L. Feldman 
 August 30, 2004 
  Page
 3
 
  

 We hope that you find the foregoing terms acceptable. You may indicate your agreement with these
terms and accept this Amendment by signing and dating the Amendment and returning it to me. 
  
 If you have any questions, please call me. 
  

			
	 Very truly yours,

	
	 COTHERIX, INC.

		
	 By:
	 	 /s/    Daniel S. Janney

	 	 	 Daniel S. Janney

	 	 	 Title: Member of Board of Directors

  
 I have read, understand and
accept the terms of this Amendment to my Offer Letter: 
  

			
	 By:
	 	 /s/    Thomas L. Feldman

	 	 	 Thomas L. Feldman

		
	 Date:
	 	 August 30, 2004

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