Document:

Prepared by MerrillDirect

Exhibit 10.25

June 21, 2001

David
Waldek

Chief Financial Officer

Albany Molecular Research Inc.

21 Corporate Circle

P.O. Box 15098

Albany, New York 12212-5098

	Re:	Collaborative Research and Technology Agreement between
  IntraBiotics Pharmaceuticals, Inc. (“IntraBiotics”) and New Chemical
  Entities, Inc. (now Albany Molecular Research, Inc.) (“AMRI”) dated January
  24, 2001 (the “Agreement”)

Dear
David:

This
letter (“Letter”) will serve to confirm the mutual release and termination of
the Agreement between IntraBiotics and AMRI as reflected in your email of June
11, 2001.  Capitalized terms contained
in this Letter shall have the meaning set forth in the Agreement.

IntraBiotics
and AMRI hereby agree to terminate the Agreement in accordance with the terms
of this Letter.  Effective upon payment
by IntraBiotics to AMRI of the sum of $300,000, which payment shall be made on
or before July 31, 2001, IntraBiotics shall fully and forever discharge all of
its obligations under the Agreement, including but not limited to any claim to
the Technology Access Fee, and such Agreement shall be terminated provided
however, that the confidentiality obligations set forth in Article 7 shall
survive such termination according to their terms.  IntraBiotics’ payment of $300,000 shall be in addition to those
amounts previously paid to AMRI under the Agreement.

IntraBiotics
and AMRI each acknowledge and agree that AMRI has not yet provided the
Screening Libraries to IntraBiotics or its designee and IntraBiotics has not
yet commenced screening such Screening Libraries.  Therefore no intellectual property has been created under the
Agreement.  Each party shall continue to
own all intellectual property owned by such party as of the Effective Date.

If
the foregoing is acceptable to AMRI, please sign where indicated below and
return one copy of this letter bearing your original signature to the
undersigned.

Very truly yours,

 

	/s/  KENNETH J. KELLEY	 	 	 
	

	 	 	 
	Kenneth J. Kelley	 	 
	President and CEO	 	 
	IntraBiotics
  Pharmaceuticals, Inc.	 	 
	 	 	 	 
	Agreed and accepted:	 	 
	 	 	 	 
	 	 	 	 
	By:	/s/  DAVID WALDEK	 	Date:	6/22/01 

	 	

	 	 
	 	David P. Waldek	 	 
	 	Chief Financial  Officer	 	 
	 	Albany Molecular
  Research Inc.Prepared by MerrillDirect

Exhibit
10.26

INTRABIOTICS
PHARMACEUTICALS, INC.

SENIOR
EXECUTIVE SEVERANCE BENEFIT PLAN

Section 1.         INTRODUCTION.

                           This
IntraBiotics Pharmaceuticals, Inc. Senior Executive Severance Benefit Plan (the
“Plan”) was established effective July 1, 2001.  The purpose of the Plan is to provide for the payment of
severance benefits to certain eligible employees of IntraBiotics
Pharmaceuticals, Inc. (the “Company”) whose employment with the Company is
terminated pursuant to a Covered Termination (as defined below).  This Plan shall supersede any severance
benefit plan (other than the Executive Severance Benefit Plan, the Director
Severance Benefit Plan and the Employee Severance Benefit Plan), policy or
practice previously maintained by the Company. 
This Plan document also is the Summary Plan Description for the Plan.

Section 2.         DEFINITIONS.

                           For
purposes of the Plan, the following terms are defined as follows:

                           (a)         “Base Salary” means the Eligible Employee’s annual base salary as in effect during the
last regularly scheduled payroll period immediately preceding the effective
date of the Covered Termination.

                           (b)         “Board” means the Board of Directors of the Company.

                           (c)         “Company”
means
IntraBiotics Pharmaceuticals, Inc.

                           (d)         “Constructive Termination” means that the Eligible Employee voluntarily terminates employment with
the Company after:

                                        (i)         the assignment to the Eligible Employee of any duties or responsibilities
that results in a significant diminution in the Eligible Employee’s function as
in effect on the Effective Date;

                                        (ii)        a change in the Eligible Employee’s title or reporting relationships as
in effect on the Effective Date;

                                        (iii)       a reduction by the Company in the Eligible Employee’s Base Salary by five
percent (5%) or more; provided, however,
that a reduction by the Company of the Eligible Employee’s Base Salary by up to
ten percent (10%) shall not constitute a Constructive Termination for purposes
of this Plan if it is made in connection with an across-the-board reduction by
the Company of all Eligible Employees’ annual base salaries by a percentage at
least equal to the percentage by which the Eligible Employee’s Base Salary is
reduced;

 

                                        (iv)        a relocation of the Eligible Employee’s business office to a location
that requires the Eligible Employee to commute more than thirty-five (35) miles
each way, except for required travel by the Eligible Employee on the Company’s
business to an extent substantially consistent with the Eligible Employee’s
business travel obligations prior to the Effective Date; provided, however, that no relocation of
the Eligible Employee’s business office shall constitute a Constructive
Termination for purposes of this Plan if the Eligible Employee provides
services to the Company from a remote location (e.g., through telecommuting) at
the time of the relocation;

                                        (v)         a material breach by the Company of any provision of this Plan; or

                                        (vi)        any failure by the Company to obtain the assumption of this Plan by any
successor or assign of the Company.

                           (e)         “Continuation
Period” means the period for which an Eligible Employee is entitled to receive
the salary continuation benefits described in Section 4(a).  The maximum Continuation Period for Eligible
Employees, with the exception of the Chief Executive Officer, shall be fifteen
(15) months.  The maximum Continuation
Period for the Chief Executive Officer shall be twenty (20) months.

                           (f)         “Covered
Termination” means an Involuntary Termination Without Cause or a Constructive
Termination, notice of either of which is given on or after the Effective Date.

                           (g)        “Effective
Date” means July 1, 2001, the effective date of the Plan.

                           (h)        “Eligible
Employee” means any full-time, regular hire employee of the Company who is an
Officer of the Company and whose employment with the Company terminates due to
a Covered Termination.

                           (i)         “Involuntary
Termination Without Cause” means the Eligible Employee’s dismissal or discharge for reasons other
than Cause.  For this purpose, “Cause”
means that, in the reasonable determination of the Company, the Eligible
Employee has

                                        (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 the Eligible Employee’s Proprietary
Information and Inventions Agreement with the Company; or

 

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

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

                           (j)         “Officer”
means a person
who is an officer of the Company within the meaning of Section 16 of the
Securities Exchange Act of 1934, as amended, and the rules and regulations
promulgated thereunder.

                           (k)        “Year
of Service” means any twelve (12) consecutive months of service with the Company.

Section 3.         ELIGIBILITY FOR BENEFITS.

                           (a)         General
Rules.  Subject to the requirements set forth in this
Section, the Company shall provide the severance benefits described in Section
4 of the Plan to Eligible Employees.

                                        (i)         In order to be eligible to receive benefits under the Plan, an Eligible
Employee whose employment is terminated pursuant to a Covered Termination that
is an Involuntary Termination Without Cause must continue to provide services
to the Company, at the Company’s request, through such date as determined by
the Company; provided, however,
that such date shall not be more than ninety (90) days from the date the Eligible
Employee is notified by the Company, in writing, of his or her Involuntary
Termination Without Cause.

                                        (ii)        In order to be eligible to receive benefits under the Plan, an Eligible
Employee also must execute a general waiver and release in substantially the
form attached hereto as Exhibit A, Exhibit B or Exhibit C, as appropriate, and
such release must become effective in accordance with its terms. The Company,
in its sole discretion, may modify the form of the required release to comply
with applicable state law and shall determine the form of the required release.

                           (b)         Exceptions
to Benefit Entitlement.  An employee who otherwise is an Eligible Employee
shall not receive benefits under the Plan in any of the following
circumstances, as determined by the Company in its sole discretion:

                                        (i)         The employee has executed an individually negotiated employment contract
or agreement with the Company relating to severance benefits that is in effect
on his or her termination date, in which case such employee’s severance
benefit, if any, shall be governed by the terms of such individually negotiated
employment contract or agreement and shall be governed by this Plan only to the
extent that the reduction pursuant to Section 5(a) below does not entirely eliminate
benefits under this Plan.

 

                                        (ii)        The Company involuntarily terminates the employee’s employment with the
Company, and such termination does not constitute a Covered Termination.  Involuntary terminations include, but are
not limited to, a termination for Cause, as such term is defined in Section
2(i).

                                        (iii)       The employee voluntarily terminates employment with the Company, and such
termination does not constitute a Constructive Termination.  Voluntary terminations include, but are not
limited to, resignation, retirement or failure to return from a leave of
absence on the scheduled date.

                                        (iv)        The employee voluntarily terminates employment with the Company in order
to accept employment with another entity that is wholly or partly owned
(directly or indirectly) by the Company or an affiliate of the Company.

                                        (v)         The employee is offered employment, with the same title and reporting
responsibilities and no diminution in duties and responsibilities, with the
Company, an affiliate of the Company, or a successor to the Company.

                                        (vi)        The employee is rehired by the Company or an affiliate of the Company
prior to the date benefits under the Plan are scheduled to commence.

Section 4.         AMOUNT OF BENEFIT.

                           (a)         Salary Continuation.  Each Eligible Employee, with the
exception of the Chief Executive Officer, shall continue to receive Base Salary
for a Continuation Period of nine (9) months plus one (1) month of additional
salary continuation for each complete Year of Service performed by the Eligible
Employee in excess of two (2) Years of Service up to a maximum of fifteen (15)
months.  The Chief Executive Officer shall continue to
receive Base Salary for a Continuation Period of twelve (12) months plus one
(1) month of additional salary continuation for each complete Year of Service
performed by the Chief Executive Officer in excess of two (2) Years of Service
up to a maximum of twenty (20) months.. 
Such amounts shall be paid in regular installments on the normal payroll
dates of the Company and shall be subject to all required tax withholding.

                           (b)         Continued Insurance Benefits.  Provided that the Eligible Employee elects continued coverage under the
Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), the Company
shall pay the portion of premiums of each Eligible Employee’s group medical,
dental and vision coverage, including coverage for the Eligible Employee’s
eligible dependents, that the Company paid prior to the Covered Termination for
the Continuation Period described in Section 4(a) or, if shorter, for the
duration of the COBRA continuation period. 
Such premium payments shall continue for the duration of the
Continuation Period; provided, however,
that no such premium payments shall be made following the effective date of the
Eligible Employee’s coverage by a medical, dental or vision insurance plan of a
subsequent employer.  Each Eligible
Employee shall be required to notify the Company immediately if the Eligible
Employee becomes covered by a medical, dental or vision insurance plan of a subsequent
employer.

             

                           No provision of
this Plan will affect the continuation coverage rules under COBRA, except that
the Company’s payment of any applicable insurance premiums during the
Continuation Period will be credited as payment by the Eligible Employee for
purposes of the Eligible Employee’s payments required under COBRA.  Therefore, the period during which an
Eligible Employee may elect to continue the Company’s group medical coverage at
his or her own expense under COBRA, the length of time during which COBRA
coverage will be made available to the Eligible Employee, and all other rights
and obligations of the Eligible Employee under COBRA (except the obligation to
pay insurance premiums that the Company pays during the Continuation Period)
will be applied in the same manner that such rules would apply in the absence
of this Plan.  At the conclusion of the
Continuation Period, the Eligible Employee shall be responsible for the entire
payment of premiums required under COBRA for the duration of the COBRA
continuation period.  For purposes of
this Section 4(b), applicable premiums that will be paid by the Company during
the Continuation Period shall not include any amounts payable by the Eligible
Employee under a Section 125 health care reimbursement plan, which amounts, if
any, are the sole responsibility of the Eligible Employee.

Section 5.         LIMITATIONS ON BENEFITS.

                           (a)         Certain
Reductions and Offsets. Notwithstanding any other provision of the Plan to the contrary, any
benefits payable to an Eligible Employee under this Plan shall be reduced by
any severance benefits payable by the Company to such individual under any
other policy, plan, program or arrangement, including, without limitation, a
contract between the Eligible Employee and any entity, covering such
individual.  Furthermore, to the extent
that any federal, state or local laws, including, without limitation, so-called
“plant closing” laws, require the Company to give advance notice or make a
payment of any kind to an Eligible Employee because of that Eligible Employee’s
involuntary termination due to a layoff, reduction in force, plant or facility
closing, sale of business, change of control, or any other similar event or
reason, the benefits payable under this Plan shall either be reduced or eliminated.  The benefits provided under this Plan are
intended to satisfy any and all statutory obligations that may arise out of an
Eligible Employee’s involuntary termination of employment for the foregoing
reasons, and the Plan Administrator shall so construe and implement the terms
of the Plan.

                           (b)         Mitigation.  Except as otherwise specifically provided herein,
Eligible Employees shall not be required to mitigate damages or the amount of
any payment provided under this Plan by seeking other employment or otherwise,
nor shall the amount of any payment provided for under this Plan be reduced by
any compensation earned by any Eligible Employee as a result of employment by
another employer or any retirement benefits received by such Eligible Employee
after the Covered Termination.

                           (c)         Termination
of Benefits.  Benefits under this Plan shall terminate immediately
if the Eligible Employee, at any time, violates any proprietary information or
confidentiality obligation to the Company.

                           (d)         Non-Duplication
of Benefits.  No Eligible Employee is eligible to receive benefits
under this Plan more than one time.

 

                           (e)         Indebtedness
of Eligible Employees.  If a terminating employee is indebted to the Company
or an affiliate of the Company at his or her termination date, the Company
reserves the right to offset any severance payments under the Plan by the
amount of such indebtedness.

                           (f)         Parachute
Payments.  If any payment or benefit the Eligible Employee
would receive in connection with a Change in ownership or effective control of
the Company from the Company or otherwise (“Payment”) would (i) constitute a
“parachute payment” within the meaning of Section 280G of the Internal Revenue
Code of 1986, as amended (the “Code”), and (ii) but for this sentence, be subject
to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then
such Payment shall be equal to the Reduced Amount.  The “Reduced Amount” shall be either (x) the largest portion of
the Payment that would result in no portion of the Payment being subject to the
Excise Tax or (y) the largest portion, up to and including the total, of the
Payment, whichever amount, after taking into account all applicable federal,
state and local employment taxes, income taxes, and the Excise Tax (all
computed at the highest applicable marginal rate), results in the Eligible
Employee’s receipt, on an after-tax basis, of the greater amount of the Payment
notwithstanding that all or some portion of the Payment may be subject to the
Excise Tax. If a reduction in payments or benefits constituting “parachute
payments” is necessary so that the Payment equals the Reduced Amount, reduction
shall occur in the following order unless the Eligible Employee elects in
writing a different order (provided,
however, that such election shall be subject to Company approval if
made on or after the date on which the event that triggers the Payment
occurs):  reduction of cash payments;
cancellation of accelerated vesting of stock awards; reduction of employee
benefits.  In the event that
acceleration of vesting of stock award compensation is to be reduced, such
acceleration of vesting shall be cancelled in the reverse order of the date of
grant of the Eligible Employee’s stock awards unless the Eligible Employee
elects in writing a different order for cancellation.

                           The accounting firm
engaged by the Company for general audit purposes as of the day prior to the
effective date of the Change in ownership or effective control of the Company
shall perform the foregoing calculations. 
If the accounting firm so engaged by the Company is serving as
accountant or auditor for the individual, entity or group effecting the Change
in ownership or effective control of the Company, the Company shall appoint a
nationally recognized accounting firm to make the determinations required
hereunder.  The Company shall bear all
expenses with respect to the determinations by such accounting firm required to
be made hereunder.

                                        The
accounting firm engaged to make the determinations hereunder shall provide its
calculations, together with detailed supporting documentation, to the Company
and the Eligible Employee within fifteen (15) calendar days after the date on
which the Eligible Employee’s right to a Payment is triggered (if requested at
that time by the Company or the Eligible Employee) or such other time as
requested by the Company or the Eligible Employee.  If the accounting firm determines that no Excise Tax is payable
with respect to a Payment, either before or after the application of the
Reduced Amount, it shall furnish the Company and the Eligible Employee with an
opinion reasonably acceptable to Executive that no Excise Tax will be imposed
with respect to such Payment.  Any good
faith determinations of the accounting firm made hereunder shall be final, binding
and conclusive upon the Company and the Eligible Employee.

 

Section 6.         RIGHT TO INTERPRET PLAN; AMENDMENT AND
TERMINATION.

                           (a)         Exclusive
Discretion.  The Plan Administrator shall have the exclusive
discretion and authority to establish rules, forms, and procedures for the
administration of the Plan and to construe and interpret the Plan and to decide
any and all questions of fact, interpretation, definition, computation or
administration arising in connection with the operation of the Plan, including,
but not limited to, the eligibility to participate in the Plan and amount of
benefits paid under the Plan.  The
rules, interpretations, computations and other actions of the Plan
Administrator shall be binding and conclusive on all persons.

                           (b)         Amendment
or Termination.  The Company reserves the right to amend or terminate
this Plan or the benefits provided hereunder at any time; provided, however, that no such amendment
or termination shall affect the right to any unpaid benefit of any Eligible Employee
whose termination date has occurred prior to amendment or termination of the
Plan.  Any action amending or
terminating the Plan shall be in writing and executed by the chairman of the
Compensation Committee of the Board of Directors of the Company.

Section 7.         TERMINATION OF CERTAIN EMPLOYEE
BENEFITS.

                           All non-health
benefits (such as life insurance, disability and 401(k) plan coverage) shall
terminate as of the employee’s termination date (except to the extent that a
conversion privilege may be available thereunder).

Section 8.         NO IMPLIED EMPLOYMENT CONTRACT.

                           The
Plan shall not be deemed (i) to give any employee or other person any right to
be retained in the employ of the Company or (ii) to interfere with the right of
the Company to discharge any employee or other person at any time and for any
reason, which right is hereby reserved.

Section 9.         LEGAL CONSTRUCTION.

                           This
Plan is intended to be governed by and shall be construed in accordance with
the Employee Retirement Income Security Act of 1974 (“ERISA”) and, to the
extent not preempted by ERISA, the laws of the State of California.

Section 10.      CLAIMS, INQUIRIES AND APPEALS.

                           (a)         Applications
for Benefits and Inquiries.  Any application for benefits, inquiries about the
Plan or inquiries about present or future rights under the Plan must be
submitted to the Plan Administrator in writing.  The Plan Administrator is:

IntraBiotics Pharmaceuticals, Inc.

2021 Stierlin Court

Mountain
View, CA  94043

 

                           (b)         Denial
of Claims.  In the event that any application for benefits is
denied in whole or in part, the Plan Administrator must notify the applicant,
in writing, of the denial of the application, and of the applicant’s right to
review the denial.  The written notice
of denial will be set forth in a manner designed to be understood by the
employee and will include specific reasons for the denial, specific references
to the Plan provision upon which the denial is based, a description of any
information or material that the Plan Administrator needs to complete the
review and an explanation of the Plan’s review procedure.

                           This
written notice will be given to the employee within ninety (90) days after the
Plan Administrator receives the application, unless special circumstances
require an extension of time, in which case, the Plan Administrator has up to
an additional ninety (90) days for processing the application.  If an extension of time for processing is
required, written notice of the extension will be furnished to the applicant
before the end of the initial ninety (90) day period.

                           This notice of
extension will describe the special circumstances necessitating the additional
time and the date by which the Plan Administrator is to render its decision on
the application.  If written notice of
denial of the application for benefits is not furnished within the specified
time, the application shall be deemed to be denied.  The applicant will then be permitted to appeal the denial in
accordance with the Review Procedure described below.

                           (c)         Request
for a Review.  Any person (or that person’s authorized
representative) for whom an application for benefits is denied (or deemed
denied), in whole or in part, may appeal the denial by submitting a request for
a review to the Plan Administrator within sixty (60) days after the application
is denied (or deemed denied).  The Plan
Administrator will give the applicant (or his or her representative) an
opportunity to review pertinent documents in preparing a request for a review.  A request for a review shall be in writing
and shall be addressed to:

IntraBiotics Pharmaceuticals, Inc.

2021 Stierlin Court

Mountain View, CA  94043

A request for review must set forth
all of the grounds on which it is based, all facts in support of the request
and any other matters that the applicant feels are pertinent.  The Plan Administrator may require the
applicant to submit additional facts, documents or other material as it may
find necessary or appropriate in making its review.

 

                           (d)         Decision
on Review.  The Plan Administrator will act on each request for
review within sixty (60) days after receipt of the request, unless special
circumstances require an extension of time (not to exceed an additional sixty
(60) days), for processing the request for a review.  If an extension for review is required, written notice of the
extension will be furnished to the applicant within the initial sixty (60) day
period.  The Plan Administrator will
give prompt, written notice of its decision to the applicant.  In the event that the Plan Administrator confirms
the denial of the application for benefits in whole or in part, the notice will
outline, in a manner calculated to be understood by the applicant, the specific
Plan provisions upon which the decision is based.  If written notice of the Plan Administrator’s decision is not
given to the applicant within the time prescribed in this Subsection (d), the
application will be deemed denied on review.

                           (e)         Rules
and Procedures.  The Plan Administrator will establish rules and
procedures, consistent with the Plan and with ERISA, as necessary and
appropriate in carrying out its responsibilities in reviewing benefit
claims.  The Plan Administrator may
require an applicant who wishes to submit additional information in connection
with an appeal from the denial (or deemed denial) of benefits to do so at the
applicant’s own expense.

                           (f)         Exhaustion
of Remedies.  No legal action for benefits under the Plan may be
brought until the claimant (i) has submitted a written application for benefits
in accordance with the procedures described by Section 10(a) above, (ii) has
been notified by the Plan Administrator that the application is denied (or the
application is deemed denied due to the Plan Administrator’s failure to act on
it within the established time period), (iii) has filed a written request for a
review of the application in accordance with the appeal procedure described in
Section 10(c) above and (iv) has been notified in writing that the Plan
Administrator has denied the appeal (or the appeal is deemed to be denied due
to the Plan Administrator’s failure to take any action on the claim within the
time prescribed by Section 10(d) above).

Section 11.      BASIS OF PAYMENTS TO AND FROM PLAN.

                           All
benefits under the Plan shall be paid by the Company.  The Plan shall be unfunded, and benefits hereunder shall be paid
only from the general assets of the Company.

Section 12.      OTHER PLAN INFORMATION.

                           (a)         Employer
and Plan Identification Numbers.  The Employer Identification Number assigned to the
Company (which is the “Plan Sponsor” as that term is used in ERISA) by the
Internal Revenue Service is 94-3200380. 
The Plan Number assigned to the Plan by the Plan Sponsor pursuant to the
instructions of the Internal Revenue Service is 513.

                           (b)         Ending
Date for Plan’s Fiscal Year.  The date of the end of the fiscal year for the
purpose of maintaining the Plan’s records is December 31.

                           (c)         Agent
for the Service of Legal Process.  The agent
for the service of legal process with respect to the Plan is IntraBiotics
Pharmaceuticals, Inc., 2021
Stierlin Court, Mountain View, CA  94043.

 

                           (d)         Plan
Sponsor and Administrator.  The “Plan Sponsor” and the “Plan Administrator” of
the Plan is IntraBiotics Pharmaceuticals, Inc., 2021 Stierlin Court, Mountain View, California 94043.  The Plan Sponsor’s and Plan Administrator’s
telephone number is (650) 526–6800. 
The Plan Administrator is the named fiduciary charged with the
responsibility for administering the Plan.

Section 13.      STATEMENT OF ERISA RIGHTS.

                           Participants in this
Plan (which is a welfare benefit plan sponsored by IntraBiotics
Pharmaceuticals, Inc.) are entitled to certain rights and protections under
ERISA.  If you are an Eligible Employee,
you are considered a participant in the Plan and, under ERISA, you are entitled
to:

                           (a)         Examine, without charge, at the Plan Administrator’s
office and at other specified locations, such as work sites, all Plan documents
and copies of all documents filed by the Plan with the U.S. Department of
Labor, such as detailed annual reports;

                           (b)         Obtain copies of all Plan documents and Plan
information upon written request to the Plan Administrator.  The Administrator may make a reasonable
charge for the copies; and

                           (c)         Receive a summary of the Plan’s annual financial
report, in the case of a plan that is required to file an annual financial
report with the Department of Labor. 
(Generally, all pension plans and welfare plans with one hundred (100)
or more participants must file these annual reports.)

                           In addition to
creating rights for Plan participants, ERISA imposes duties upon the people
responsible for the operation of the employee benefit plan.  The people who operate the Plan, called
“fiduciaries” of the Plan, have a duty to do so prudently and in the interest
of you and other Plan participants and beneficiaries.

                           No one, including
your employer or any other person, may fire you or otherwise discriminate
against you in any way to prevent you from obtaining a Plan benefit or
exercising your rights under ERISA.  If
your claim for a Plan benefit is denied in whole or in part, you must receive a
written explanation of the reason for the denial.  You have the right to have the Plan review and reconsider your
claim.

 

                           Under ERISA, there
are steps you can take to enforce the above rights.  For instance, if you request materials from the Plan and do not
receive them within thirty (30) days, you may file suit in a federal
court.  In such a case, the court may
require the Plan Administrator to provide the materials and pay you up to $110
a day until you receive the materials, unless the materials were not sent
because of reasons beyond the control of the Plan Administrator.  If you have a claim for benefits that is
denied or ignored, in whole or in part, you may file suit in a state or federal
court.  If it should happen that the
Plan fiduciaries misuse the Plan’s money, or if you are discriminated against
for asserting your rights, you may seek assistance from the
U.S. Department of Labor, or you may file suit in a federal court.  The court will decide who should pay court
costs and legal fees.  If you are
successful, the court may order the person you have sued to pay these costs and
fees.  If you lose, the court may order
you to pay these costs and fees, for example, if it finds your claim is
frivolous.

                           If you have any
questions about the Plan, you should contact the Plan Administrator.  If you have any questions about this
statement or about your rights under ERISA, you should contact the nearest
office of the Pension and Welfare Benefits Administration, U.S. Department of
Labor, listed in your telephone directory or the Division of Technical
Assistance and Inquiries, Pension and Welfare Benefits Administration, U.S.
Department of Labor, 200 Constitution Avenue N.W., Washington, D.C. 20210.

Section 14.      EXECUTION.

                           To record the
adoption of the Plan as set forth herein, effective as of July 1, 2001,
IntraBiotics Pharmaceuticals, Inc. has caused its duly authorized officer to
execute the same this 31 day of May 2001.

	 	INTRABIOTICS PHARMACEUTICALS, INC.

	 	By: 
  /s/ JANE SHAW
	 	

	 	Title: Chairman, Compensation Committee

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00028-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00028-of-00352.parquet"}]]