Document:

EX-10.8

	

Exhibit 10.8  

 

BIOCRYST PHARMACEUTICALS,
INC.
2190 PARKWAY LAKE DRIVE 
BIRMINGHAM, AL 35244
205-444-4600    205-444-4640 FAX

www.biocryst.com 

July 10, 2002 

MEMORANDUM 

	TO:  	BioCryst
Compensation Committee 

	FROM:  	Charlie
Bugg and Claude Bennett 

	SUBJECT:  	Salary
reductions 

	

     

        Considering
the deep cuts that we have made in personnel at BioCryst, we feel that it would be
appropriate for us to reduce our current salaries by 25%. The Compensation Committee will
consider appropriate readjustments of our salaries when the financial condition of the
company improves. The cumulative salary cuts would be repaid to us in the event of a
change-of-control of the company. 

/s/ Charles E. Bugg
———————————————

Charles E. Bugg
Chairman & Chief Executive Officer 

/s/ J. Claude Bennett
———————————————
J. Claude Bennett
President
& Chief Operating Officer 

Agreed –
Compensation Committee: 

/s/ William W.
Featheringill
———————————————
William W. Featheringill 

/s/ Edwin A. Gee
———————————————

Edwin A. Gee 

/s/ William M. Spencer,
III 
———————————————

William M. Spencer, III 

22<PAGE>

                                                                    Exhibit 10.1

[** Confidential treatment has been requested for certain provisions of this
document, which information has been separately filed with the Commission and
the appropriate Section marked with a [*].]

October 9, 2002

Mr. Steven Weinstein
[*]
[*]

Dear Steve,

This letter is a second revision of our employment offer following our
discussions over the past week. I appreciate your personal situation with your
current employer, and am looking forward to getting weekly updates re your
status and the timing of your move to Macrovision. Our mutual expectation is
that you will be able to sort out the open issues at your current employer by
October 23rd, and will be able to join us full time before the end of 2002.
Given that you have verbally committed to join us under the terms outlined in
this offer, I am going to terminate my recruiting efforts for a CTO. This
presents a risk and an opportunity cost to Macrovision should your situation
change and should you not be able to join us by January 1, 2003. In order to
mitigate this risk and opportunity cost you have agreed to pay Macrovision
$40,000 as a breach of contract penalty fee if you have not joined us as a full
time employee as of January 1, 2003.

I am pleased to present this revised job offer for the position of Chief
Technology Officer/Senior VP at Macrovision Corporation, reporting to me. Your
compensation will consist of a base salary of $8,333.33 paid semi-monthly,
totaling $200,000 annually. As we are in the middle of conducting a review of
all executive staff salaries and bonus plans, we will include the CTO position
in our analysis, and if we find that the $200,000 salary is below what
Macrovision deems necessary to attract and retain high caliber, highly motivated
individuals, then we will adjust it at the same time that we adjust the other
executives' salaries.

You will also be eligible to participate in our EIP (Executive Incentive Plan)
for the 2003 calendar year. Please note in the attached 2002 EIP Plan that the
100% `target' performance payout is 20%. Our Board has already been informed
that we believe this target performance payout is low by Bay Area standards, and
they have concurred that this percentage can be raised to the 50% level,
provided our executive compensation market survey confirms that 20% payout is
below the average Silicon Valley. This CTO position is based solely in the
office located at 2830 De La Cruz Blvd in Santa Clara and does not involve
telecommuting.

Additionally, you will receive a 125,000 share stock option grant, which needs
to be approved by the Board of Directors. The price per share for this grant
will be set at the closing market price of Macrovision Corporation stock
(NASDAQ: MVSN) on your first day of employment. These options will vest in
accordance with the terms and conditions of the Macrovision Corporation

<PAGE>

2000 Equity Incentive Plan as follows; 1/6 of total option grant at one year
from date of grant, 1/36 of total option grant per month for the next twelve
months and 1/24 of total option grant per month for the final twelve months. At
a stock price of $11.00, this option package has a market value of $1,375,000.

As a Macrovision employee, you will receive our standard benefits including
Flexible Time Off (FTO), Paid Holidays, Medical, Dental, Life, Accidental Death
and Dismemberment, Long-term and Short-term Disability coverage, and enrollment
into our Employee Stock Purchase Plan (ESPP), Medical Spending and 401(k) Plans.
A description of our benefits is attached. Additionally, your salary, along with
your performance, will be reviewed in one year from your date of hire (your
anniversary date). These, and other matters, will be fully explained to you
during your orientation; however, feel free to contact me or George Greeley, our
Director of HR, with any questions prior to that time.

In compliance with the Immigration Reform and Control Act of 1986, we are
responsible for verifying employment eligibility of all new employees. If you
choose to accept our offer, please bring with you on your first day documents
that show both proof of your identity and your eligibility to work (i.e.,
state-issued driver's license, U.S. passport, social security card, birth
certificate, etc.). In addition, in order to verify your recent salary and
compensation, you are asked to bring your W-2 forms (or other evidence of your
work-related compensation) for the last two years 2000 and 2001. Our salary
offer is in large part based on your previous salary levels. This offer of
employment is contingent upon your providing the appropriate identification and
salary history information.

As Macrovision's relationships with employees is at-will, either you or
Macrovision may terminate the employment relationship at any time for any
reason, with or without notice. Also, any dispute arising out of or relating to
your employment with Macrovision, including, but not limited to, the manner in
which that employment is terminated, or any claims that Macrovision has violated
any state or federal civil rights laws shall be submitted to binding arbitration
under the administration of the American Arbitration Association.

It is understood that with respect to the at-will employment relationship and
the binding arbitration provision stated above, that this constitutes the full,
complete and final expression of the agreement with Macrovision, and that it may
not be modified, altered or amended, either expressly or impliedly, unless in
writing signed by the CEO of Macrovision.

As is standard for our senior executives, you will be offered an Executive
Severance and Employment Agreement after completing 12 months of service. The
intent of such agreement is to protect you and provide accelerated stock option
vesting and a minimum of 6-months'

<PAGE>

severance pay should a `change of control' of the Company occur and should you
lose your job or have your job materially diminished in title, job function, or
salary as a result.

As a matter of policy, we like to make it clear that if a prospective employee
accepts our offer, he/she should not bring to Macrovision from his or her
previous employers any drawings, documents, customer lists, or similar material.
Although this caution is in most cases unnecessary, we feel that it is important
to emphasize that the Macrovision policy prohibits the transfer or use of such
material from other employers. Additionally, as a condition of employment, all
employees must sign a Proprietary Information and Inventions Agreement, as well
as our Securities Trading Policy, both of which are attached.

If the foregoing meets with your approval, including the breach of contract
penalty, please indicate by signing below and returning a copy of this letter to
me no later than October 14, 2002. This offer will be valid until January 1,
2003, at which point, if you have not joined Macrovision as a full time
employee, the offer will be withdrawn, your acceptance will be voided, and you
will owe us $40,000 for breach of contract.

Steve, we look forward to your joining Macrovision and being a key contributor
in helping us define our various technology strategies, complete due diligence
on external IP and technologies, stay abreast of next generation competitive
solutions, and help us grow MVSN from a $100M enterprise to a $200M+ enterprise
with an annual growth rate in excess of 30% per year.

Sincerely,

/s/ William A. Krepick
----------------------
William A. Krepick
President/CEO

Attach: 2002 EIP
        Benefits Summary
        Proprietary Information and Inventions Agreement
        Securities Trading Policy

Agreed & Accepted:   /s/ Steven Weinstein                   10/10/02
                   ---------------------------          ----------------
                                                             (Date)<PAGE>

                                                                  Exhibit 4.4(a)

                                 AMENDMENT NO. 1

     This Amendment No. 1 dated as of April 30, 2003 ("Amendment") is among
LYONDELL-CITGO Refining LP, a Delaware limited partnership (the "Borrower"), and
the lenders listed on the signature pages to this Amendment ("Lenders").

     Subject to the terms of this Amendment, the Borrower and the Lenders
executing this Amendment hereby agree as follows:

                                  INTRODUCTION

     A. The Borrower, Credit Suisse First Boston, as administrative agent for
the Lenders ("Agent"), and the Lenders are parties to the Revolving Credit
Agreement dated as of December 10, 2002 (the "Credit Agreement").

     B. When calculating Consolidated Net Worth, the Borrower and the Lenders
intended that, if the amount of distributions required to be paid under Section
7.4(A) of the Partnership Agreement is less than distributions payable to
partners (as indicated on the Company's balance sheet) as of the date of any
balance sheet, then the amount of distributions payable to partners is limited
to the amount of distributions required to be paid on such date.

     C. Therefore, neither the Borrower nor the Lenders intended that PDVSA's
delayed billing for crude oil deliveries to the Borrower would result in an
increase in distributions payable to partners and a corresponding reduction in
net worth for purposes of determining Consolidated Net Worth.

     D. Solely for the purposes of avoiding doubt and clarifying the intent of
the parties as described in the foregoing paragraphs B and C, the Borrower and
the Lenders desire to enter into this Amendment.

     Section 1. Definitions. Unless otherwise defined in this Amendment, terms
used in this Amendment which are defined in the Credit Agreement shall have the
meanings assigned to such terms in the Credit Agreement.

     Section 2. Amendment. Section 1.01 of the Credit Agreement is amended by
substituting the following for the last sentence in the definition of
"Consolidated Net Worth":

     When calculating Consolidated Net Worth, if the amount of distributions
     required to be paid under Section 7.4(A) of the Partnership Agreement as of
     the date of any balance sheet is less than distributions payable to
     partners (as indicated on the Borrower's balance sheet) as of the date of
     such balance sheet, then the amount of distributions payable to partners
     included in the liabilities of the Borrower as of such date shall be
     limited to the amount of distributions required to be paid under Section
     7.4(A) of the Partnership Agreement as of such date.

     Section 3. Effectiveness. This Amendment shall become effective as of the
date of this Amendment, and the Credit Agreement shall be amended as provided in
this Amendment,

<PAGE>

when (a) the Borrower shall have delivered duly and validly executed originals
of this Amendment to the Agent, (b) the Required Lenders shall have executed and
delivered this Amendment to the Agent and the Borrower, and (c) the Borrower
shall have paid to the Agent for the ratable benefit of the Lenders any work
fees payable in connection with this Amendment.

     Section 4. Effect on Loan Documents.

     (a) Except as amended herein, the Credit Agreement and the Loan Documents
remain in full force and effect as originally executed. Nothing herein shall act
as a waiver of any of the Agent's or Lenders' rights under the Loan Documents,
as amended.

     (b) This Amendment is a Loan Document for the purposes of the provisions of
the other Loan Documents.

     Section 5. Choice of Law. This Amendment shall be governed by and construed
and enforced in accordance with the laws of the State of New York.

     Section 6. Counterparts. This Amendment may be signed in any number of
counterparts, each of which shall be an original.

         [The remainder of this page has been left blank intentionally.]

                                        2

<PAGE>

         EXECUTED to be effective as of the date first above written.

                              LYONDELL-CITGO REFINING LP

                              By: \s\ James W. Branch
                                  ---------------------------------------
                              Name:  James W. Branch
                              Title: Vice President, General Manager,
                                     Planning and Administration

                              CREDIT SUISSE FIRST BOSTON

                              By:  \s\ Lauri Sivaslian
                                   --------------------------------------
                              Name:  Lauri Sivaslian
                              Title: Managing Director

                              By:  \s\ James Moran
                                   --------------------------------------
                              Name:  James Moran
                              Title: Director

                              BANK OF AMERICA, N.A.

                              By:  \s\ Michael Dillon
                                   --------------------------------------
                              Name:  Michael Dillon
                              Title: Managing Director

                              WESTLB AG, NEW YORK BRANCH

                              By:  \s\ Salvatore Battinelli
                                   --------------------------------------
                              Name:  Salvatore Battinelli
                              Title: Managing Director, Credit Department

                              By:  \s\ Daniel Hitchcock
                                   --------------------------------------
                              Name:  Daniel Hitchcock
                              Title: Associate Director

                                        3

<PAGE>

                              SUNTRUST BANK

                              By:  \s\ Mary-Crawford Dixon
                                   --------------------------------------
                              Name:  Mary-Crawford Dixon
                              Title: Vice President

                              FORTIS CAPITAL CORP

                              By:  \s\ Christopher S. Parada
                                   --------------------------------------
                              Name:  Christopher S. Parada
                              Title: Vice President

                              By: \s\  Darrell W. Holley
                                  ---------------------------------------
                              Name:  Darrell W. Holley
                              Title: Managing Director

                              BANK OF OKLAHOMA N.A.

                              By:  \s\ Robert D. Mattax
                                   --------------------------------------
                              Name:  Robert D. Mattax
                              Title: Senior Vice President

                              FLEET NATIONAL BANK

                              By:  \s\ Robert D. Valbona
                                   --------------------------------------
                              Name:  Robert D. Valbona
                              Title: Director

                              THE BANK OF NOVA SCOTIA

                              By:  \s\ Vicki Gibson
                                   --------------------------------------
                              Name:  Vicki Gibson
                              Title: Assistant Agent

                                        4

<PAGE>

                              CREDIT LYONNAIS NEW YORK BRANCH

                              By:  \s\ Olivier Audemard
                                   --------------------------------------
                              Name:  Olivier Audemard
                              Title: Senior Vice President

                              ARAB BANKING CORPORATION

                              By:  \s\ Robert J. Ivosevich
                                  ---------------------------------------
                              Name:  Robert J. Ivosevich
                              Title: Deputy General Manager

                              BANK OF SCOTLAND

                              By:   \s\ Annie Glynn
                                    -------------------------------------
                              Name:  Annie Glynn
                              Title: Senior Vice President

                              BANK ONE, NA

                              By:  \s\ Daniel A. Davis
                                   --------------------------------------
                              Name:  Daniel A. Davis
                              Title: Director

                              JPMORGAN CHASE BANK

                              By:  \s\ Robert C. Mertensotto
                                   --------------------------------------
                              Name:  Robert C. Mertensotto
                              Title: Managing Director

                                        5

<PAGE>

                              ALLIED IRISH BANKS PLC

                              By:  \s\ Vaughn Buck
                                   --------------------------------------
                              Name:  Vaughn Buck
                              Title: Vice President

                              By:  \s\ Aidan Lanigan
                                   --------------------------------------
                              Name:  Aidan Lanigan
                              Title: Assistant Vice President

                                       6

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