Document:

<PAGE>   1
                                                                    EXHIBIT 10.3

                              OFFICER'S CERTIFICATE

            I, the undersigned, do hereby certify and represent that:

            1. I am the duly elected Senior Vice President and Chief Business
Officer of deCODE genetics, Inc., a Delaware Corporation.

            2. Pursuant to Rule 306(a) of Regulation S-T, the following exhibit
10.3 to deCODE genetics, Inc.'s Quarterly Report on Form 10-Q is a fair and
accurate English translation of a document prepared in the Icelandic language.

            IN WITNESS WHEREOF, I have signed this Officer's Certificate in my
capacity as Senior Vice President and Chief Business Officer of deCODE genetics,
Inc. on this 15 day of May, 2001.

                                  By:         /s/ Hannes Smarason
                                              -------------------------
                                  Name:       Hannes Smarason
                                  Title:      Senior Vice President and Chief
                                              Business Officer

<PAGE>   2
                                                                    EXHIBIT 10.3

                                WORK CONTRACT

Work contract between Islensk Erfdagreining ehf., State Reg. No. 691295-3549,
Lynghals 1, 110 Reykjavik, hereinafter referred to as the "Buyer", of the first
part, and Eykt ehf, State Reg. No. 560192-2319, Skeifan 7, 108 Reykjavik,
hereinafter referred to as the "Contractor", of the second part.

                                    Article 1

The Contractor shall complete the following work:

Concrete casting and external finishing work, conduits and ventilation systems,
electrical and specialised systems for a new building of the Buyer at Sturlugata
8 in Reykjavik, together with any other work to be negotiated pursuant to
Articles 6 and 7 hereof.

The work shall be carried out in accordance with the following documents:

     a)      This Contract

     b)      -            Tender specifications and Bill of Quantities, undated
                          (Annex A to this Contract). Attached hereto are
                          architects' drawings, bearing capacity drawings,
                          conduit plans along with drawings of conduits and
                          ventilation systems and plans for electrical wiring
                          along with drawings of electrical and specialised
                          systems.

             -            Project specifications, undated (Annex B)

             -            Conduits and ventilation systems, tender documents, 21
                          December 2000 (Annex C)

             -            Electrical and specialised systems, Tender
                          specifications and project specifications, undated
                          (Annex D)

     c)      Queries, responses and modifications prior to opening of bids
             (comprising Annex E)

<TABLE>
<CAPTION>
              Date      Query                              Date     Response/notice
<S>         <C>         <C>                              <C>        <C>
    (i)     02.01.01    IE-concrete surfacing on         04.01.01   Vifill Oddsson
                        hollow-core slabs
    (ii)    03.01.01    IE-important/notice                         Linuhonnun
    (iii)   04.01.01    Islensk Erfdagreining            05.01.01   Linuhonnun
    (iv)    04.01.01    Islensk Erfdagreining - query    05.01.01   Vikingur/Linuhonnun
    (v)     05.01.01    IE - Tender 2                    05.01.01   VGK
    (vi)    10.01.01    Sturlugata 8 - electrical and    10.01.01   Vikingur
                        specialised systems
                                                         11.01.01   Vikingur
                                                         11.01.01   Vikingur
    (vii)   10.01.01    Grating lists                    11.01.01   VGK
</TABLE>
<PAGE>   3
<TABLE>
<S>          <C>         <C>                                  <C>         <C>
    (viii)   11.01.01    IE-Tender documents /notice                      VGK
    (ix)     11.01.01    A Support structure - addition                   Vifill Oddsson
                         to tender documents
    (x)      11.01.01    Additions and modifications to                   Vifill Oddsson
                         work specifications, Chapter 2.0
                         Support Structure
    (xi)     12.01.01    Notice to Buyer relating to                      Buyer
                         extension of the project time,
                         item b) in the bid
    (xii)    12.01.01    Updated Bid document                             Linuhonnun
    (xiii)   12.01.01    Regarding Hataekni                   12.01.01    Answers to
                                                                          questions
                                                                          regarding IE
                                                                          Tender 2, VGK
    (xiv)    12.01.01    deCode                               12.01.01    Vikingur
    (xv)     12.01.01    Queries relating to tender                       Teiknistofa
                         documents (architect drawings)                   Ingimundar
                         and responses                                    Sveinssonar
    (xvi)    14.01.01    Controls of conduit systems          15.01.01    VGK
    (xvii)   15.01.01    IE - performance guarantee           15.01.01    Linuhonnun
</TABLE>

     d)   Bid from the Contractor, dated 16 January 2001 (Annex F)

     e)   Letter confirming acceptance of the Bid, dated 23 January 2001 (Annex
          G)

     f)   Performance guarantee in the amount of ISK 234,484,527.- from Sjova
          Almennar Insurance Co., dated 13 February 2001, (Annex H)

     g)   Work Schedule, dated 15 January 2001 (Annex I)

     h)   Corrections to the tender documents and modifications (in total Annex
          J)

                (i)   Minutes 01, of 22 January 2001
                (ii)  Letter from the Buyer's supervisor from 23 January 2001

     i)   Information from the Contractor (Annex K)

The above documents form an integral part of this Contract, as do the documents
referred to in the above documents, e.g. the standard IST-30, 4th edition 1997.

All matters on which the parties have agreed or commented since the project was
begun, e.g. during project meetings or by correspondence, are fully valid,
independent of the signing of the Contract.

References to the State Procurement Regulation in Article 0.1.9 in the Tender
specifications do not apply to this project.

                                    Article 2

The Contract Price according to the Contractor's Bid, as amended, is ISK
1,564,692,688, including VAT, in writing: fifteen hundred sixty four million six
hundred ninety two thousand six hundred eighty eight 00/100 kronur.

                                    Article 3

All quantities will be fixed. However, modifications made to the project during
the course of the work shall be quantified separately. In the event that the
Contractor believes he has discovered errors in the quantities for a specific
tendered work, he shall submit corrections to the Bill of Quantities for the
tendered work in question within a deadline specified hereinbelow. All
demonstrable errors shall be corrected by that time. These deadlines are 18 May
2001 for the concrete casting and external finishing work and 18 May
<PAGE>   4
2001 for the conduits and ventilation systems as well as the electrical and
specialised systems.

In the event that either party requests review of specific quantities, the said
party shall submit documents showing a modification, which shall differ
appreciably from the corrected quantities, and the settlement shall then be
based on the new quantities, provided that there are reasonable grounds for
them.

                                    Article 4

The Contractor has already begun work on the project and shall have completed
the concrete casting and external finishing work by 30 June 2001. Conduits and
ventilation systems and electrical and specialised systems shall be completed by
23 November 2001.

                                    Article 5

The Contractor shall provide a performance bond amounting to 15% of the Contract
Price. There is no deposit.

                                    Article 6

A substantial part of the electrical and specialised systems are included
neither in the Bid nor in this Work Contract; in addition, quantities, drawings
and project specifications for the tendered part are subject to some
imprecision. The parties shall endeavour to reach an agreement on price and
performance when final documents are available and shall endeavour to the extent
possible to base their agreement on available unit prices or market prices. In
the event that an agreement cannot be reached, the Buyer shall invite tenders
for those parts of the project on which no agreement has been reached, in
consultation with the Contractor, and the Contractor shall then have the work
carried out against an agreed administration fee.

In the event of additions and modifications to the project, in excess of normal
practice, the Contractor shall perform the work in any event at the unit prices
stated in the Bid.

                                    Article 7

As the documentation reveals, other contractors will be working on the project
during the time of the work, including a contractor for the glass roofing. In
addition, several parts of the project remain to be tendered, such as steel
bridges, interior finishing work, interior fittings, site completion, road
construction within the site etc. The Contractor shall undertake to co-operate
in a positive manner with other contractors engaged by the Buyer for the
project, show them full consideration and reach an agreement with them on
co-ordination and services.

The contracting parties shall endeavour to reach an agreement on the overall
supervision by the principal contractor of the aforesaid project units with the
exception of the part of the contractor for the glass roofing. Administration
costs shall be according to the Contractor's bid.

                                    Article 8

Any disputes arising in respect of this Contract shall be brought before the
District Court of Reykjavik.

This Contract is made in two copies, one to be held by each party.

                            Reykjavik, 15 March 2001

For the Buyer                                          For the Contractor
/s/ Elin Pordardottir                                  /s/ Petur Gudmundsson
_______________________                                /s/ Theodor Solonsson

Witnesses to the correct date and signatures:

/s/ Gylfi Gislason                  Id. No. 131262-3379
/s/ Tomas Sigurdsson                Id. No. 180966-3159<PAGE>   1
                                                                    EXHIBIT 10.1

            SEPARATION OF EMPLOYMENT AGREEMENT AND GENERAL RELEASE

            WHEREAS Nigel Andrews (hereinafter "Employee") has been employed by
Internet Capital Group (hereinafter "EMPLOYER"); and

            WHEREAS Employee and EMPLOYER mutually desire to terminate amicably
Employee's employment with EMPLOYER.

            IT IS HEREBY AGREED by and between Employee and EMPLOYER as follows:

            1. Employee, for and in consideration of the undertakings of
EMPLOYER set forth herein, and intending to be legally bound, does hereby
permanently and irrevocably sever his employment relationship with EMPLOYER
effective February 28, 2001, and also does hereby REMISE, RELEASE AND FOREVER
DISCHARGE, EMPLOYER and its parent, subsidiary, and affiliated entities, and its
and their officers, directors, shareholders, employees and agents, its and their
respective successors and assigns, heirs, executors, and administrators
(hereinafter referred to collectively as "RELEASEES") of and from any and all
actions and causes of actions, suits, debts, claims and demands whatsoever in
law or in equity, which he ever had, now has, or which his heirs, executors or
administrators may have, by reason of any matter, cause or thing whatsoever,
from the beginning of his employment with EMPLOYER up to and including the
termination of his employment, and particularly, but without limitation, any
claims arising from or relating in any way to his employment relationship or the
termination of his employment relationship with EMPLOYER, including, but not
limited to, any claims which have been asserted, could have been asserted or
could be asserted now or in the future, including any claims under any federal,
state or local laws, including the Pennsylvania Human Relations Act,

<PAGE>   2
43 P.S. Section 951 et seq.; Title VII of the Civil Rights Act of 1964, as
amended, 42 U.S.C. Section 2000e et seq., the Age Discrimination in Employment
Act, 29 U.S.C. Section 621 et seq., the Americans with Disabilities Act, 29
U.S.C. Section 12101 et seq.; any common law contract or tort claims now or
hereafter recognized, including but not limited to all claims for cash severance
and all claims for counsel fees and costs.

            2. In full consideration of Employee's execution of this Separation
of Employment Agreement and General Release, and his agreement to be legally
bound by its terms, EMPLOYER agrees, beginning upon the 8th day following
Employee's execution of this agreement, to do the following:

                  (a) EMPLOYER shall accelerate the vesting of 400,000 stock
options granted to Employee on December 21, 2000 with an exercise price of
$3.0312 so that all 400,000 of such options will be completely vested as of the
date of his termination of employment with EMPLOYER. EMPLOYER also agrees to
extend the expiration date that Employee has to exercise such stock options to
two (2) years after termination of employment.

                  (b) Employee agrees to be available to provide advisory
services to ICG for six (6) months for an amount of time equivalent to two (2)
days per week. Employee specifically acknowledges that he shall receive no
additional compensation in exchange for these services;

                  (c) EMPLOYER shall pay the COBRA premiums for continued
medical and dental insurance benefits for Employee per their current benefits
election through February 28, 2002 or until eligible for these benefits under a
new employer's or spouse's employer's plan, whichever occurs first;

                                      -2-
<PAGE>   3
                  (d) EMPLOYER shall pay Employee accrued and unused vacation;

                  (e) EMPLOYER shall pay to Employee any distribution declared
prior to March 31, 2002 under the 1999 ICG Limited Partnership for events
occurring in calendar years 2000 and 2001;

                  (f) EMPLOYER shall provide Employee with outplacement
assistance for a period of 12 months or until subsequent employment begins;

                  (g) After Employee no longer has an advisory role with
EMPLOYER or any of its partner companies, EMPLOYER agrees to release Employee
from the non-compete provision of any restrictive covenant signed by EMPLOYER
and Employee, only to the extent that any such provision would have limited
Employee's ability to work for competitors of EMPLOYER other than Safeguard,
CMGI, idealab!, Divine interVentures, i2, Ariba, Softbank, Commerce One and/or
their affiliate companies; however, such non-compete provision shall expressly
apply at all times while Employee is serving in an advisory capacity to EMPLOYER
or any of its partner companies and shall apply to prohibit Employee's
employment with, or provision of services to, the companies and/or entities
identified in this paragraph without EMPLOYER'S prior written approval. In
addition, as a condition of EMPLOYER'S agreement to partially waive such
non-compete provision as set forth herein, Employee agrees to comply with all
other provisions of this agreement including paragraph 5(a).

            3. Except as set forth herein, it is expressly agreed and understood
that EMPLOYER does not have, and will not have, any obligation to provide
Employee at any time in the future with any payments, benefits or considerations
other than those recited in paragraphs

                                      -3-
<PAGE>   4
2(a) - 2(g) above other than any vested benefits to which Employee may be
entitled under the terms of EMPLOYER'S benefit plans.

            4. Employee further agrees and covenants that neither he, nor any
person, organization or other entity on his behalf, will file, charge, claim,
sue or cause or permit to be filed, charged or claimed, any civil action, suit
or legal proceeding for personal relief (including any action for damages,
injunctive, declaratory, monetary or other relief) against RELEASEES involving
any matter occurring at any time in the past up to and including the date of
this Separation of Employment Agreement and General Release or involving any
continuing effects of any acts or practices which may have arisen or occurred
prior to the date of this Separation of Employment Agreement and General
Release. Employee further agrees that if any person, organization, or other
entity should bring a claim against RELEASEES involving any such matter, he will
not accept any personal relief in any such action.

            5. In further consideration of the agreements of EMPLOYER as set
forth herein, Employee agrees that:

                  (a) During the one (1) year period beginning on the date of
this Agreement, he will not either directly or through others (i) solicit, hire
or attempt to solicit or hire any employee of EMPLOYER or any other entity in
which EMPLOYER owns, directly or indirectly, an equity interest (an "Affiliate")
to change or terminate his or her relationship with any Affiliate or otherwise
to become an employee of any other person or business entity, or (ii) solicit,
hire or attempt to solicit or hire any consultant, independent contractor or
customer of EMPLOYER or of any Affiliate with whom he had contact during the
course of his employment with EMPLOYER to change or terminate his or her
relationship with any Affiliate or otherwise

                                      -4-
<PAGE>   5
to become a consultant, independent contractor or customer to, for or of any
other person or business entity. Notwithstanding the foregoing, general
solicitations of employment published in a journal, newspaper, over the Internet
or other publication of general circulation and not specifically directed
towards such employees, consultants or independent contractors shall not be
deemed to constitute solicitation for purposes of this Section. Employee shall
not be prohibited from employing or maintaining as a customer any person or
business that contacts Employee on such person's or such business' own
initiative and without any solicitation on Employee's part, directly or through
others.

                  (b) At all times hereafter, Employee agrees to hold in
strictest confidence and not to disclose, use, lecture upon or publish any of
EMPLOYER'S Proprietary Information (defined below), unless EMPLOYER expressly
authorizes such disclosure in writing. "Proprietary Information" shall mean any
and all confidential and/or trade secrets and/or proprietary knowledge, data or
information of EMPLOYER, its affiliated entities, any of its partner companies,
investors, and partners, including but not limited to information relating to
financial matters, investments, budgets, business plans, marketing plans,
personnel matters, business contacts, products, processes, know-how, designs,
methods, improvements, discoveries, inventions, ideas, data, programs, and other
works of authorship. The term "Inventions" shall mean all trade secrets,
inventions, ideas, processes, data, programs, other works of authorship,
know-how, improvements, discoveries, developments, designs and techniques.

                  (c) To deliver to the person designated by EMPLOYER all
originals and copies of all documents and other property of EMPLOYER in his
possession, under his control or to which he may have access. Employee will not
reproduce or appropriate for his own

                                      -5-
<PAGE>   6
use, or for the use of others, any Employer property, Proprietary Information or
Company Inventions.

                  (d) Because Employee's services to EMPLOYER were personal and
unique, and because he had access to and has become acquainted with the
Proprietary Information of EMPLOYER, and because any breach by Employee of any
of the restrictive covenants contained in this Agreement would result in
irreparable injury and damage for which money damages would not provide an
adequate remedy, EMPLOYER shall have the right to enforce the obligations set
forth in Section 6 of this Agreement by injunction, specific performance or
other equitable relief, without bond and without prejudice to any other rights
and remedies that EMPLOYER may have for a breach, or threatened breach, of the
provisions of Section 6 of this Agreement. Employee agrees that in any action in
which EMPLOYER seeks injunction, specific performance or other equitable relief,
Employee will not assert or contend that any of the provisions of Section 6 of
this Agreement are unreasonable or otherwise unenforceable.

            6. This Separation of Employment Agreement and General Release will
be governed by and construed according to the laws of the State of Delaware,
where the EMPLOYER is incorporated. Employee acknowledges and agrees that he has
had an opportunity to seek advice of counsel in connection with this Separation
of Employment Agreement and General Release and that the covenants contained
herein are reasonable in geographical and temporal scope and in all other
respects. If any court or other decision-maker of competent jurisdiction
determines that any of the covenants contained in this Agreement, or any part
thereof, is unenforceable because of the duration or geographical scope of such
provision, then, the duration or scope of such provision, as the case may be,
shall be reduced so that such

                                      -6-
<PAGE>   7
provision becomes enforceable and, in its reduced form, such provision shall
then be enforceable and shall be enforced. In case any one or more of the
provisions contained in Section 6 of this Agreement shall, for any reason, be
held to be invalid, illegal or unenforceable in any respect, such invalidity,
illegality or unenforceability shall not affect the other provisions of Section
6 of this Agreement, which shall be construed as if such invalid, illegal or
unenforceable provision had never been contained herein. No waiver by EMPLOYER
of any breach of this Agreement shall be a waiver of any preceding or succeeding
breach. No waiver by EMPLOYER of any right under this Agreement shall be
construed as a waiver of any other right.

            7. The parties hereto acknowledge that the undertakings of each of
the parties herein are expressly contingent upon the fulfillment and
satisfaction of the obligations of the other party as set forth herein.

            8. Employee hereby agrees and recognizes that his employment
relationship with RELEASEES have been permanently and irrevocably severed and
that RELEASEES have no obligation, contractual or otherwise, to hire, rehire or
re-employ him/her in the future, and he agrees not to seek re-employment with
EMPLOYER.

            9. Employee agrees and acknowledges that the agreement by EMPLOYER,
described herein, is not and shall not be construed to be an admission of any
violation of any federal, state or local statute or regulation, or of any duty
owed by EMPLOYER and that this agreement is made voluntarily to provide an
amicable conclusion of his employment relationship with EMPLOYER.

            10. Employee agrees, covenants and promises that he has not
communicated or disclosed, and will not hereafter communicate or disclose, the
terms of this Separation of

                                      -7-
<PAGE>   8
Employment Agreement and General Release to any persons with the exception of
members of his immediate family, his attorney, and his accountant or tax
advisor, each of whom shall be informed of this confidentiality obligation and
shall be bound by its terms. Employee further agrees that he will not disparage
in any way the professional or personal reputation or character of EMPLOYER, its
affiliated corporations or entities, or any of their officers, directors,
employees, agents or representatives.

            11. Employee hereby certifies that he has read the terms of this
Separation of Employment Agreement and General Release, that he has been
informed by EMPLOYER, through this document and otherwise, that he should
discuss this Agreement with an attorney of his own choice, and that he
understands its terms and effects. Employee further certifies that he has the
intention of releasing all claims recited herein in exchange for the
consideration described herein, which he acknowledges as adequate and
satisfactory to him/her. Neither EMPLOYER nor any of its agents, representatives
or attorneys has made any representations to Employee concerning the terms or
effects of this Separation of Employment Agreement and General Release other
than those contained herein.

12. Employee acknowledges that he has been informed that he has the right to
consider this Agreement for a period of at least 21 days prior to entering into
this Agreement. Employee further acknowledges that he has the right to revoke
this Agreement within seven (7) days of its execution by giving written notice
of such revocation by hand delivery or fax to EMPLOYER, Attention: Stephen M.
Prichard, within the seven (7) day period.

                                      -8-
<PAGE>   9
            IN WITNESS WHEREOF, and intending to be legally bound hereby, the
parties have executed the foregoing Separation of Employment Agreement and
General Release this 2nd day of March, 2001.

WITNESS:   /s/ Karen Toren                   /s/ Nigel Andrews
         --------------------             ---------------------------------
                                          Nigel Andrews

                                          INTERNET CAPITAL GROUP

WITNESS:   /s/ Penny Stoker               By:   /s/ Stephen M. Prichard
         --------------------                 -------------------------------
                                             Stephen M. Prichard
                                             Vice President, Human Resources

February 21, 2001

                                      -9-

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