Document:

Exhibit 10.5  

[AMBRYX
LOGO]
 11099 N. Torrey Pines Road, Suite 160

La Jolla, CA 92037

Telephone: 858-404-0740

Facsimile: 858-404-0750  

February 21, 2000 

Dr. Mark
J. Zoller

7 Sutton Place

Weston, MA 02193 

Telephone:
781-894-6190 

Dear
Mark: 

        It
is my pleasure to provide you with this letter, a formal offer, setting forth the principal terms for you to join Ambryx Inc., a Delaware corporation (the "Company"), which is
located in La Jolla, California. 

	Position:	Vice President, Research. You will report to Dr. Lubert Stryer, Chairman of the Board of Directors and Chief Scientific Officer.
	

Compensation:	

Monthly compensation will be $18,333.34 per month.
	

Equity:	

You will be entitled to purchase at fair market value 200,000 thousand shares of the common stock of the Company. The price per share of such stock will be set by the Board of Ambryx and your shares must be purchased within ten (10) days of your
Start Date and will be subject to the Company's Stock Purchase Agreement. Your shares will vest according to the following schedule: (i) twenty five percent (25%) of the total (50,000 shares) will vest upon the first anniversary of the commencement
of your employment with the Company; (ii) one forty-eighth (1/48) of the total (approximately 4,166 shares) will vest each month beginning at the end of the one year and will continue to vest over a three year
period.
	

Benefits:	

You will be entitled to receive standard medical, life and dental insurance benefits similar to those typically afforded in similar-sized biotechnology companies.
	 	 

 

	

Sign-On Incentive:	

You will be entitled to a one-time, sign-on incentive bonus. The bonus will be one of the following two options that you must elect in writing when you accept this offer: 1) a one-time bonus of $275,000 (two hundred seventy five thousand dollars) to
be paid on your first day of employment that will be forgiven on the first day of your 37th month of employment. If you leave the company for any reason prior to the 37th month of employment, the full bonus must be repaid to
Ambryx OR 2) a $210,000 (two hundred ten thousand dollars) one-time bonus to be paid on your first day of employment which will be forgiven annually at the rate of $70,000 (seventy thousand dollars) per year (on the first day of your 13th,
25th and 37th months of employment). If you leave at any time prior to the first day of your 13th month of employment, the full amount must be repaid to Ambryx. If you leave at any time prior to the first day of your
25th month of employment, $140,000 (one hundred forty thousand dollars) must be repaid to Ambryx. If you leave at any time prior to the first day of your 37thmonth of employment $70,000 (seventy thousand dollars) must be repaid
to Ambryx. In the event that you are permanently disabled or die prior to repayment of any or all of the bonus, the unvested portion of the bonus will become due within eighteen (18) months of such permanent disability or death.
	

Move and Relocation:	

You will be entitled to reasonable move and relocation reimbursement including transportation of your personal possessions and automobiles, travel to San Diego for you and your family, closing costs (including legal fees, points and commissions, not
to exceed $20,000 for closing costs), three months temporary housing and other miscellaneous expenses as discussed and agreed in advance. Expenses paid by you will be adjusted to reflect your pre-tax cost.
	

Vacation:	

You will be entitled to 17 days per year of paid personal leave.
	

Employment At Will:	

Your employment will be at will, which means it may be terminated at any time by you or the Company with or without cause.
	

Start Date:	

March 10, 2000, or at another mutually agreeable date. This offer is subject to proof of United States Citizenship or other proof of employability in the United States and if not accepted by February 25, 2000 it will lapse.

        We
are excited about Ambryx's prospects for success, and anticipate that your contribution will substantially enhance our progress. I look forward to your joining the Company, and to
working with you as we develop our business. 

	Sincerely,	 	 
	

/s/  PAUL A. GRAYSON      
 Paul A. Grayson

President and Chief Executive Officer	
 	

 
	

SIGNED AND AGREED TO:	
 	

 
	

/s/  LUBERT STRYER      
	
 	

 
	25 February 2000
 (Date)	 	 

	cc:
	Dr. Lubert
Stryer 

2Exhibit 10.6  

[SENOMYX
LOGO]
 11099 N. Torrey Pines Road, Suite 160

La Jolla, CA 92037

Telephone: 858-646-8300

Facsimile: 858-404-0750  

June 7, 2000 

Klaus
Gubernator

13434 Glencliff Way

San Diego, CA 92130 

Telephone:
(858) 350-8341 

Dear
Klaus: 

        It
is my pleasure to provide you with this letter setting forth the principal terms for you to join Senomyx, Inc., a Delaware corporation (the "Company"), which is located in La
Jolla, California. 

	Position:	Vice President of Chemistry. You will report to Mark Zoller, Vice President of Research.
	

Compensation:	

Monthly compensation will be $16,667 per month, minus standard deductions and withholdings.
	

Equity:	

Subject to approval by the Company's Board of Directors and pursuant to the terms of a separate Stock Option Agreement and the Company's Equity Incentive Plan, the Company will grant to you the right to purchase at fair market value 200,000 shares
(the "Shares") of the common stock of the Company. Assuming your continuous employment, the Shares will vest according to the following schedule: (i) twenty five percent (25%) of the total (50,000 shares) will vest upon the first anniversary of the
commencement of your employment with the Company; (ii) one forty-eighth (1/48) of the total (approximately 4,166 shares) will vest ratably on a monthly basis beginning at the end of the one year and will continue to vest over a three year
period.
	

Benefits:	

You will be eligible to participate in the Company's medical and dental benefit plans, as well as its 401 (k) plan subject to the terms of the plans. Details about these benefit plans are available for your review. The Company may modify compensation
and benefits from time to time as it deems necessary.
	

Paid Time Off:	

You will be entitled to 17 days per year of paid time off.
	

Employment At Will:	

Your employment with the Company is not for a guaranteed or definite period of time. Your employment will be at will, which means it may be terminated at any time by you or the Company with or without cause or advance notice.
	

Severance:	

In the event your employment is terminated without Cause (as defined herein) then upon the Company's receipt from you of an effective Release and Waiver of Claims in the form attached hereto as Exhibit C, the Company will pay you your monthly base
salary, minus standard deductions and withholdings, for a period of three (3) months from the date of termination.
	

 	

For purposes of this offer letter, Cause will be defined as:
	 	 	 	 

 

	

 	

(i)	
 	

your repeated failure to satisfactorily perform your job duties;
	

 	

(ii)	
 	

your failure to comply with all material applicable laws in performing your job duties or in directing the conduct of the Company's business;
	

 	

(iii)	
 	

your commission of any felony or intentionally fraudulent or other act against the Company, or its affiliates, employees, agents or customers which demonstrates your untrustworthiness or lack of integrity;
	

 	

(iv)	
 	

your participation in any activity which is directly competitive with or intentionally injurious to the Company or any of its affiliates or which violates the terms of your Proprietary Information and Inventions Agreement; or
	

 	

(v)	
 	

your commission of any fraud against the Company or any of its affiliates or use or intentional appropriation for your personal use or benefit of any funds or properties of the Company not authorized by the Company's Board of Directors to be so used
or appropriated
	

Employee Handbook:	

As a Company employee, you will be expected to abide by Company rules and regulations and acknowledge in writing that you have read the Company's Employee Handbook which will govern the terms and conditions of your employment. The Company's Employee
Handbook may be modified from time to time at the sole discretion of the Company.
	

Proprietary Information	

 	
 	

 
	and Inventions Agreement:	As a condition of employment, you will be required to sign and comply with the attached Proprietary Information and Inventions Agreement which, among other things, prohibits unauthorized use or disclosure of the Company's
proprietary information.
	 	 	 	 

2

 

	

Third Party Information:	

In your work for the Company, you agree that you will not make any unauthorized use or disclosure of any confidential or proprietary information governed by any agreement with any third party. You represent and warrant that your employment by the
Company and your performance of your duties for the Company will not conflict with any prior agreement or relationship with any third party. You also agree that you will not enter into any agreement with any third party, either written or oral, in
conflict with your duties to the Company. You acknowledge that: you have certain contractual obligations to your prior employers (e.g., your Noncompetition Agreement with E. I. du Pont de Nemours and Company); the Company expects you to abide by all
lawful obligations under all such agreements; and the Company is not indemnifying you with regard to your obligations under such agreements. During your employment with the Company, you will be expected to use in the performance of your duties only
that information generally known and used by persons with training and experience comparable to your own, information which is common knowledge in the industry or otherwise legally in the public domain, or which is otherwise provided or developed by
the Company. Further, you agree not to bring onto the premises of the Company, nor to be in unauthorized possession or control of, any unpublished documents or any property belonging to any former employer or any other party unless consented to in
writing by that former employer or party.
	

Working Hours:	

Normal working hours are from 8:00 a.m. to 5:00 p.m., Monday through Friday. As an exempt salaried employee, you will be expected to work additional hours as required by the nature of your work assignments.
	

Entire Agreement:	

This letter, together with your Proprietary Information and Inventions Agreement and the Employee Handbook, forms the complete and exclusive statement of the terms of your employment with the Company. The employment terms in this letter supersede any
other agreements or promises made to you by anyone, whether oral or written, and they can only be modified or amended in a written agreement signed by you and a duly authorized Company officer.
	

Start Date:	

June 14, 2000, or at another mutually agreeable date. This offer is subject to proof of United States Citizenship or other proof of employability in the United States and to the approval of the Board of Directors of Senomyx, Inc. and if not accepted
by June 9, 2000 it will lapse.

        We
are excited about Senomyx's prospects for success, and anticipate that your contribution will substantially enhance our progress. I look forward to your joining the Company, and to
working with you as we develop our business. 

	Sincerely,	 	 
	

/s/  PAUL A. GRAYSON      
 Paul A. Grayson

President and Chief Executive Officer	
 	

 
	

SIGNED AND AGREED TO:	
 	

 
	

/s/  JEAN J. LOCKHART      
	
 	

 
	June 9, 2000
 (Date)	 	 

	cc:
	Jean
J. Lockhart 

Exhibit A—Employee
Proprietary Information and Inventions Agreement 

3

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