Document:

Exhibit 10.5

[DPL Letterhead]

July 31, 2006

Mr. James V. Mahoney

3600 Wood Hollow Road

Dayton, Ohio 45429

Dear Jim:

Reference is made to the Employment Agreement, dated May 18, 2006, by
and between you, DPL Inc. and The Dayton Power and Light Company (together with
DPL Inc., the “Company”), which provided that your resignation from the Company
and the Boards of the Directors of the Company would be effective on July 31,
2006.

This letter agreement amends the Employment Agreement to provide that
you will continue your employment with the Company and your service on the
Boards of Directors until such date as may be determined by the Boards of
Directors, provided you may elect to terminate your employment on a date
specified by you in a written notice provided to the Boards of Directors at
least 14 days in advance of such date (the earlier of the date specified by the
Boards or the date specified by you in such written notice, “New Effective Date”).  In consideration for your continued
employment, you will receive your base salary through the New Effective Date
and you will be eligible to participate in the Executive Incentive Compensation
Program (the “EICP”) for 2006 through the New Effective Date; provided that any
payment you may receive under the EICP will be pro rated for the period you are
employed by the Company.

Notwithstanding anything herein to the contrary, this letter agreement
also confirms that the Company shall pay to you on July 31, 2006 (or promptly
thereafter) a lump sum cash payment of (i) five hundred and fifty thousand
dollars ($550,000), less any applicable withholding taxes and payroll
deductions, and (ii) your unpaid base salary, if any, through July 31, 2006
pursuant to Section 2(a) of the Employment Agreement.  In addition, the following Sections of the
Employment Agreement shall continue in full force and effect in accordance with
their terms: Section 2(c) (health insurance program), Section 2(d)
(out-of-pocket business expenses), Section 3 (waiver of certain
compensation/benefits), Section 4 (indemnification), Sections 5 and 6 (release
and Directors and Officers Insurance Policy), Section 7 (return of property),
Section 8 (confidentiality), Section 9 (non-disparagement), Section 10
(non-compete), Section 11 (amendment), Section 12 (entire agreement), Section
13 (severability) and Section 14 (governing law).

Please indicate your agreement to the terms of this letter agreement by
signing below.

 

 

	
  

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
  DPL Inc.

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Glenn E. Harder

  
	
   

  	
   

  	
  Chairman of the Board

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  The Dayton Power
  and Light Company

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Glenn E. Harder

  
	
   

  	
   

  	
  Chairman of the Board

  
	
   

  	
   

  	
   

  
	
  Acknowledged and
  Agreed to:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  James V. Mahoney

  	
   

  	
   

  
	
  Dated:
  ______________________

  	
   

  	
   

  
				

 

 2Exhibit 10.5

[DPL Letterhead]

July 31, 2006

Mr. James V. Mahoney

3600 Wood Hollow Road

Dayton, Ohio 45429

Dear Jim:

Reference is made to the Employment Agreement, dated May 18, 2006, by
and between you, DPL Inc. and The Dayton Power and Light Company (together with
DPL Inc., the “Company”), which provided that your resignation from the Company
and the Boards of the Directors of the Company would be effective on July 31,
2006.

This letter agreement amends the Employment Agreement to provide that
you will continue your employment with the Company and your service on the
Boards of Directors until such date as may be determined by the Boards of
Directors, provided you may elect to terminate your employment on a date
specified by you in a written notice provided to the Boards of Directors at
least 14 days in advance of such date (the earlier of the date specified by the
Boards or the date specified by you in such written notice, “New Effective Date”).  In consideration for your continued
employment, you will receive your base salary through the New Effective Date
and you will be eligible to participate in the Executive Incentive Compensation
Program (the “EICP”) for 2006 through the New Effective Date; provided that any
payment you may receive under the EICP will be pro rated for the period you are
employed by the Company.

Notwithstanding anything herein to the contrary, this letter agreement
also confirms that the Company shall pay to you on July 31, 2006 (or promptly
thereafter) a lump sum cash payment of (i) five hundred and fifty thousand
dollars ($550,000), less any applicable withholding taxes and payroll
deductions, and (ii) your unpaid base salary, if any, through July 31, 2006
pursuant to Section 2(a) of the Employment Agreement.  In addition, the following Sections of the
Employment Agreement shall continue in full force and effect in accordance with
their terms: Section 2(c) (health insurance program), Section 2(d)
(out-of-pocket business expenses), Section 3 (waiver of certain
compensation/benefits), Section 4 (indemnification), Sections 5 and 6 (release
and Directors and Officers Insurance Policy), Section 7 (return of property),
Section 8 (confidentiality), Section 9 (non-disparagement), Section 10
(non-compete), Section 11 (amendment), Section 12 (entire agreement), Section
13 (severability) and Section 14 (governing law).

Please indicate your agreement to the terms of this letter agreement by
signing below.

 

 

	
  

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
  DPL Inc.

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Glenn E. Harder

  
	
   

  	
   

  	
  Chairman of the Board

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  The Dayton Power
  and Light Company

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Glenn E. Harder

  
	
   

  	
   

  	
  Chairman of the Board

  
	
   

  	
   

  	
   

  
	
  Acknowledged and
  Agreed to:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  James V. Mahoney

  	
   

  	
   

  
	
  Dated:
  ______________________

  	
   

  	
   

  
				

 

 2Exhibit
10.1

AMENDMENT NO. 1

This Amendment No. 1 (this “Amendment No. 1”) is to
the Collaboration and License Agreements, effective as of July 9, 2003, between
(i) Pharmacopeia Drug Discovery, Inc. (f/k/a Pharmacopeia, Inc.) and Schering
Corporation and (ii) Pharmacopeia Drug Discovery, Inc. and Schering-Plough Ltd.
(collectively, the “2003 Agreements”). By agreement of the Parties, as of the
Amendment No.1 Effective Date (as defined below), this Amendment No.1 amends
the 2003 Agreements as follows:

1.             All
capitalized terms not defined in this Amendment No. 1 shall have the

meanings given to them in
the 2003 Agreements.

2.             The
Parties agree that this Amendment No. 1 is effective as of June 10, 2006 (the “Amendment
No. 1 Effective Date”).

3.             The
Parties agree that as of the Amendment No. 1 Effective Date, and
notwithstanding anything in the 2003 Agreements to the contrary:

(a)                                   The
term of the Collaboration is extended and shall continue until October 7, 2006, on which date it shall
terminate.

(b)                                  For
the period from June 10, 2006 until October 7, 2006, Pharmacopeia shall provide ten (10) chemistry FTEs for
the performance of the Collaboration. During such period, each of Schering and
SPL shall pay to Pharmacopeia research funding for the Collaboration at the rate
per FTE established for the third year of the Collaboration pursuant to
Sections 5.2.2 of the
Agreements. All such FTEs shall be dedicated to work full time on the
Collaboration.

(c)                                   Subject
to Section 4 below, the FTEs that Pharmacopeia provides under Section 3(b)
above shall work on Optimization Programs designated by the Collaboration
Committee. For the avoidance of doubt, such FTEs shall not be required to work
on Screening Programs.

(d)                                  Payments
by each of Schering and SPL under Section 3(b) above shall be made to
Pharmacopeia in accordance with Section 5.2.3
of the 2003 Agreements.

4.             The
Parties agree that Pharmacopeia will not initiate or perform any new
Optimization Programs under the 2003 Agreements
during the period set forth in Section
3(b) above.

5.             The remaining terms of the 2003 Agreements,
except to the extent modified by the terms of this Amendment No. 1, shall
remain in full force and effect.

 

IN WITNESS WHEREOF, the parties hereto have caused
this Amendment No. 1 to be duly executed by their authorized representatives
and delivered in triplicate originals.

	
  SCHERING CORPORATION

  	
   

  	
  PHARMACOPEIA DRUG DISCOVERY,

  
	
   

  	
   

  	
   

  	
   

  	
  INC. (F/K/A PHARMACOPEIA, INC.)

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
  /s/ Michael J. DuBois_

  	
   

  	
   

  	
   

  	
   

  
	
  Name:

  	
   

  	
  Michael J. DuBois

  	
   

  	
  By:

  	
   

  	
  /s/ Leslie J. Browne, Ph. D.

  
	
  Title:

  	
   

  	
  Vice President

  	
   

  	
  Name:

  	
   

  	
  Leslie J. Browne, Ph.D.

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
   

  	
  President and Chief Executive Officer

  
	
   

  	
   

  	
   

  	
   

  	
  Date:

  	
   

  	
  July 27, 2006

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  SCHERING-PLOUGH, LTD.

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
  /s/ Michael J. DuBois

  	
   

  	
   

  	
   

  	
   

  
	
  Name:

  	
   

  	
  Michael J. DuBois

  	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
   

  	
  Officer

  	
   

  	
   

  	
   

  	
   

  

 

 2

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