Document:

Sales Contract

 Exhibit 10.4 
  
 SALES CONTRACT 
  
 Memphis, Tennessee, January 5, 2005 
  
 RECEIVED of TENNESSEE ENTERTAINMENT CONCEPTS, INC., a Tennessee corporation, hereinafter called “Purchaser”, the sum of Ten and 00/100 ($10.00)
Dollars, as earnest money and in part payment for the purchase of real estate, hereinafter called “Property,” situated in the City of Memphis, County of Shelby and State of Tennessee: 
  

	Lot	1, Section A, Winchester/Getwell Commercial Subdivision, as shown on plat of record in Plat Book 92, Page 1, in the Register’s Office of Shelby County, Tennessee, to which plat
reference is given for a more particular description of said property. 

  
 known locally as 3918 Winchester, Memphis, Tennessee 38118. 
  
 Seller covenants and agrees to sell and convey Property, with all improvements thereon, or cause it to be conveyed, by good and sufficient warranty deed, to Purchaser, or to such person or persons as Purchaser may designate; Purchaser,
however, shall not be released from any of Purchaser’s agreements and undertakings as set forth herein, unless otherwise stated; and Purchaser covenants and agrees to purchase and accept Property, upon terms as follows: 
  
 1. The purchase price for the Property shall be the total amount of One
Million One Hundred Thousand and 00/100 ($1,100,000.00) Dollars, and shall be paid as follows: 
  
 The Purchase Price shall be evidenced by a Wraparound Promissory Note (the “Wrap Note”) providing for payments as follows: 
  
 a. On the principal sum of Six Hundred Thousand and 00/100 ($600,000.00)
Dollars (“First Debt”), Purchaser shall make payments of Six Thousand Nine Hundred Sixty Six and 51/100 ($6,966.51) Dollars in monthly installments which payments are based on principal and interest on the outstanding principal balance at
the rate of seven (7%) percent per annum and amortized over a ten (10) year term. The first installment shall commence on February 5, 2005, and shall be payable on the same day each and every month thereafter until July 5, 2005, at which time the
principal balance on the Six Hundred Thousand and 00/100 ($600,000.00) Dollars and all accrued but unpaid interest thereon shall be paid in full. 

 b. The additional Five Hundred Thousand and 00/100 ($500,000.00) Dollars (“Second Debt”) shall
be payable in equal monthly installments of Three Thousand Three Hundred Twenty Six Thousand 51/100 ($3,326.51) Dollars per month with interest calculated at seven (7%) percent per annum and amortized over a thirty (30) year term. The first
installment shall commence on February 5, 2005, and shall be payable on the same day each and every month thereafter until January 5, 2010. The principal balance and all accrued interest thereon shall be due and payable over five (5) years from date
of closing and may be prepaid at any time without penalty. 
  
 c.
Seller agrees to subordinate the Second Debt to the lien of a first mortgage not in excess of $600,000.00, which Purchaser shall obtain in order to pay the First Debt within six (6) months from date of closing. 
  
 d. Purchaser understands that there is a prior mortgage obligation existing
on the Property in favor of Community Banks of Colorado in the original principal sum of $824,000.00 and having a present outstanding principal balance of $735,174.66. It is an express condition of this Agreement, that the payment of said prior
obligation is the sole, separate and complete responsibility of Seller. Should Seller fail to make any installments on said prior obligation, then and in such event, Purchaser would, at Purchaser’s option, be afforded the opportunity by Seller
to then directly assume the responsibility for payment of the obligation to Community Banks of Colorado, and claim offset against Purchaser’s liability to Seller as described under this Agreement to the extent of any such payments made directly
by Purchaser. 
  
 e. Seller agrees to indemnify Purchaser from any
responsibility on the prior mortgage due to Community Banks of Colorado, said indemnification to include all costs and reasonable attorney’s fees. 
  
 2. The closing of this transaction shall take place on or before January 5, 2005, at the law offices of David J. Johnson, P.C., 780 Ridge Lake Boulevard,
Suite 202, Memphis, Tennessee 38120. 
  
 3. Possession of Property
is to be given on closing. 
  
 4. All taxes for the current year
are to be prorated as of date of closing, and all prior unpaid taxes or liens including front foot assessments are to be paid by Seller, unless otherwise 

  

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specified. Fire and any additional hazard insurance premiums on the improvements on Property is to be maintained in the name of Seller until payment of the
First Debt and then cancelled and a new policy obtained by Purchaser. Purchaser is to be named as additional insured on the existing policy and Seller shall be named as mortgagee on the replacement policy when obtained. The premium on the existing
policy is to be pro-rated at closing. 
  
 5. Title is to be
conveyed subject to all restrictions, easements and covenants of record, and subject to zoning ordinances or laws of any governmental authority and the existing first mortgage indebtedness owed Community Banks of Colorado. An existing lease on the
Property is to be cancelled at closing. 
  
 6. The Property is to
be delivered in as good condition as it presently is as of the date of this contract, ordinary wear and tear excepted, and if not in such condition when final settlement is made, Seller is obligated to put them in such condition, or to compensate
Purchaser for his failure to do so, but in the event of destruction by fire, or otherwise, Seller’s liability shall in no event be more than the appraised value of the improvements so destroyed. 
  
 7. Seller agrees promptly to furnish, for examination only, either title
search or adequate abstracts of title, taxes and judgments, covering Property, or at Seller’s option, a policy of title insurance by one of the title insurance companies with offices in Memphis for the amount of the above purchase price,
insuring marketability of title and paid for by Seller. Adequate abstracts of title, taxes and judgments are those required by a title insurance company with an office in Memphis as the basis for the issuance of a policy of title insurance. In the
event of controversy regarding title, a title insurance policy covering Property, issued by any local title insurance company for the above purchase price, shall constitute and be accepted by Purchaser as conclusive evidence of good and merchantable
title. 
  
 8. If the title is not good and cannot be made good
within a reasonable time after written notice has been given that the title is defective, specifically pointing out the defects, then the above earnest money shall be returned to Purchaser. If the title is good and Purchaser shall fail to pay for
Property as specified herein, Seller shall have the right to elect to declare this contract canceled, and upon such election, the earnest money shall be retained by Seller, as liquidated damages. The right given Seller to make the above election
shall not be Seller’s exclusive remedy, and either party shall have the right to elect to affirm this contract and enforce its specific performance or 

  

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recover full damages for its breach. Seller’s retention of such earnest money shall not be evidence of an election to declare this contract canceled, as
Seller shall have the right to retain his portion of earnest money to be credited against damages actually sustained. 
  
 9. Seller is to pay for preparation of deed, title search or abstract, and notary fee on deed. Purchaser is to pay for preparation of the Wrap Note, or
notes, and trust deed, state tax and Register’s fee on the Wraparound Trust Deed, notary fee on trust deed, recording of warranty deed, state tax and Register’s fee on warranty deed, and expense of title examination or title insurance, if
any. If Purchaser obtains a loan on Property, they are to pay all expenses incident thereto. Seller and Purchaser are to share equally in paying closing fee in connection with this transaction. 
  
 10. This contract constitutes the entire agreement between the parties hereto
with respect to the transaction herein contemplated. Any modification or amendment to this agreement shall be effective only if in writing and executed by each of the parties hereto. 
  
 11. Purchaser accepts Property in its existing condition, “as is”, no warranties or representations having been
made by Seller which are not expressly stated herein. 
  
 12.
There are no sales commissions, finder’s fees and broker’s commissions payable or claimed with respect to the sale of the Property, and Seller shall indemnify and save Purchaser harmless from any and all liabilities, expenses and actual
attorney fees of any type or sort whatsoever with respect to any commissions or finder’s fees or claims therefor. 
  
 13. This Contract only pertains to the sale of the real estate and building located on the property and does not include any items of personally, the
parties having entered into a separate agreement dated                          ,
20    , for such items. 
  
 THE
REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK. 
  

 4 

 WITNESS the signatures of all parties the day and year above written. 
  

			
	 PURCHASER:

	
	 TENNESSEE ENTERTAINMENT CONCEPTS, INC.

		
	 By:
	 	 /s/ Charles G. Westlund, Jr.

	 	 	 Charles G. Westlund, Jr., President

	 Address:
	 	 3918 Winchester, Memphis, TN 38118

	 Telephone:
	 	 
		
	 SELLER:
	 	 
	
	 VCG REAL ESTATE HOLDINGS, INC.

		
	 By:
	 	 /s/ Micheal Ocello

	 	 	 Michael Ocello, President

	 Address:
	 	 390 Union Blvd, #540,
 Lakewood, CO 80228

	 Telephone:
	 	 303-934-2424

  

 5Employment Agreement

 Exhibit 10.1 
  
 EMPLOYMENT AGREEMENT 
  
 THIS EMPLOYMENT AGREEMENT (this “Agreement”), dated December 20, 2004, is made by and between NANOGEN, INC., a Delaware corporation (hereinafter
the “Company”), and Robert Saltmarsh, (hereinafter “Executive”). 
  
 WHEREAS, the Company and Executive wish to set forth in this Agreement the terms and conditions under which Executive will be employed by the Company; and 
  
 WHEREAS, the Company wishes to be assured that Executive will be available to the Company for an additional three (3) years
after December 20, 2004. 
  
 NOW, THEREFORE, the Company and
Executive, in consideration of the mutual promises set forth herein, agree as follows: 
  
 ARTICLE I. 
  
 TERM OF
AGREEMENT 
  
 A. Commencement Date. The terms of this
Agreement shall govern Executive’s employment with the Company from December 20, 2004 (“Commencement Date”) and this Agreement shall expire after a period of three (3) years from the Commencement Date, unless terminated earlier
pursuant to Article 6. 
  
 B. Renewal. The term of this
Agreement shall be automatically renewed for successive, additional three (3) year terms unless either party delivers written notice to the other at least ninety (90) days prior to the expiration date of this Agreement of an intention to terminate
this Agreement or to renew it for a term of less than three (3) years but not less than (1) year. If the term of this Agreement is renewed for a term of less than three (3) years, then thereafter the term of this Agreement shall be automatically
renewed for successive, additional identical terms unless either party delivers a written notice to the other at least ninety (90) days prior to a termination date of this Agreement of an intention to terminate this Agreement or to renew it for a
different term of not less than one (1) year. Any renewal bonus will be negotiated as mutually agreed to at the time of any renewal of this Agreement. 
  
 If this Agreement is not renewed at the end of any term hereof by the Company for any reason except death, disability or retirement of Executive,
notwithstanding anything herein elsewhere contained, Executive shall be paid his salary, as provided for in Section 3.A hereof, and receive the other benefits applicable under Article 4 hereof, for an additional six (6) months after the termination
date hereof. 
  
 ARTICLE II. 
  
 EMPLOYMENT DUTIES 
  
 A. Title/Responsibilities. Executive hereby accepts employment with
the Company pursuant to the terms and conditions hereof. Executive agrees to serve the Company in the position of Chief Financial Officer upon appointment as such by the Board of Directors or a committee of the Board of Directors. Executive shall
have the powers and duties commensurate with such position, including but not limited to, hiring personnel necessary (in the judgment of the Board of Directors) to carry out the responsibilities for such position. 
  

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 B. Full Time Attention. Executive shall devote his best efforts and his full business time and
attention to the performance of the services customarily incident to such office and to such other services as the Board may reasonably request. 
  
 C. Other Activities. Except upon the prior written consent of the Board of Directors, Executive shall not during the period of employment engage,
directly or indirectly, in any other business activity (whether or not pursued for pecuniary advantage) that is or may be competitive with, or that might place him in a competing position to that of the Company or any other corporation or entity
that directly or indirectly controls, is controlled by, or is under common control with the Company (an “Affiliated Company”), provided that Executive may own less than two percent of the outstanding securities of any such publicly traded
competing corporation. 
  
 ARTICLE III. 
  
 COMPENSATION 
  
 A. Base Salary. Executive shall receive a Base Salary at an annual
rate of two hundred forty thousand dollars ($240,000), payable in accordance with the Company’s customary payroll practices. The Company’s Board of Directors shall provide Executive with annual performance reviews, and, thereafter,
Executive shall be entitled to such Base Salary as the Board of Directors may from time to time establish in its sole discretion. 
  
 B. Achievement Bonus. The Company shall pay Executive an Achievement Bonus of up to 50% of Executive’s Base Salary annually based upon
achievement by the Company of its corporate goals as established and determined by the Board of Directors annually and for other achievements by the Company or the Executive during the year as approved by the Compensation Committee. The Board of
Directors or Compensation Committee, as applicable, shall, in their respective sole discretion, determine whether such corporate or other goals have been attained or other achievements have occurred. 
  
 C. Transaction Bonus. In addition, in the event of a transaction
involving a Change in Control, in a transaction approved by the Company’s Board of Directors, which transaction results in the receipt by the Company’s stockholders of consideration with a value representing, in the sole judgment of the
Board of Directors, a significant premium over the average of the closing prices per share of the Company’s common stock as quoted on the Nasdaq National Market for 20 trading days ending one day prior to the public announcement of such
transaction (a “Change in Control Transaction”), Executive shall be paid a Transaction Bonus at the closing of such a transaction in the amount equal to one (1) times 50% of Executive’s Base Salary in effect immediately preceding the
closing of such a transaction. Executive shall also be paid said Transaction Bonus if the Company enters into a transaction approved by the Board of Directors which is not a Change in Control Transaction, but which, nonetheless, involves a
significant change in the ownership of the Company or the composition of the Board of Directors of the Company, and which results in significant additional value for the Company’s stockholders, as determined by the Board of Directors in its
sole discretion and as specifically designated a significant event by the Board of Directors (a “Significant Event”). In the event Executive receives a Transaction Bonus, no Achievement Bonus will be paid to Executive in the year in which
such Transaction Bonus is paid. 
  

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 If the Company enters into a transaction which is a Change in Control Transaction, then all of the
Executive’s stock options received before the date of the transaction shall become exercisable in full and all of the shares of the common stock of the Company awarded to Executive under the Company’s 1997 Stock Incentive Plan and become
fully vested. If the Company enters into a transaction which is not a Change in Control Transaction but which is a Significant Event, then the Board of Directors may, in its sole discretion, determine that all, or a portion, of the Executive’s
stock options received before the effective date of the transaction shall become exercisable in full and all, or a portion, of the shares of the common stock of the Company awarded to Executive under the Company’s 1997 Stock Incentive Plan
shall become fully vested. 
  
 D. Withholdings. All
compensation and benefits to Executive hereunder shall be subject to all federal, state, local and other withholdings and similar taxes and payments required by applicable law. 
  
 ARTICLE IV. 
  
 EXPENSE ALLOWANCES AND FRINGE BENEFITS 
  
 A. Vacation. Executive shall be entitled to three (3) weeks, plus one (1) additional day for each completed year of employment with the Company, of
annual paid vacation during the term of this Agreement. 
  
 B.
Benefits. During the term of this Agreement, the Company shall also provide Executive with the usual health insurance benefits and life insurance it generally provides to its other senior management employees. As Executive becomes eligible in
accordance with criteria to be adopted by the Company, the Company shall provide Executive with the right to participate in and to receive benefits from accident, disability, medical, pension, bonus, stock, profit-sharing and savings plans and
similar benefits made available generally to employees of the Company as such plans and benefits may be adopted by the Company, provided that Executive shall during the term of this Agreement be entitled to receive at a minimum standard medical and
dental benefits similar to those typically afforded to a Chief Financial Officer in similar sized biotechnology companies. The amount and extent of benefits to which Executive is entitled shall be governed by the specific benefit plan as it may be
amended from time to time. 
  
 C. Business Expense
Reimbursement. During the term of this Agreement, Executive shall be entitled to receive proper reimbursement for all reasonable out-of-pocket expenses incurred by him (in accordance with the policies and procedures established by the Company
for its senior executive officers) in performing services hereunder, provided Executive properly accounts therefor. 
  

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 ARTICLE V. 
  
 CONFIDENTIALITY 
  
 A. Proprietary Information. Executive represents and warrants that he has executed and delivered to the Company the Company’s standard
Proprietary Information, Inventions and Dispute Resolution Agreement in form acceptable to the Company’s counsel. 
  
 B. Return of Property. All documents, records, apparatus, equipment and other physical property which is furnished to or obtained by Executive in
the course of his employment with the Company shall be and remain the sole property of the Company. Executive agrees that, upon the termination of his employment, he shall return all such property (whether or not it pertains to Proprietary
Information as defined in the Proprietary Information, Inventions and Dispute Resolution Agreement), and agrees not to make or retain copies, reproductions or summaries of any such property. 
  
 ARTICLE VI. 
  
 TERMINATION 
  
 A. By Death. The period of employment shall terminate automatically
upon the death of Executive. In such event, the Company shall pay to Executive’s beneficiaries or his estate, as the case may be, any accrued Base Salary, any bonus compensation to the extent earned, any vested deferred compensation (other than
pension plan or profit-sharing plan benefits which will be paid in accordance with the applicable plan), any benefits under any plans of the Company in which Executive is a participant to the full extent of Executive’s rights under such plans,
any accrued vacation pay and any appropriate business expenses incurred by Executive in connection with his duties hereunder, all to the date of termination (collectively “Accrued Compensation”), but no other compensation or reimbursement
of any kind, including, without limitation, severance compensation, and thereafter, the Company’s obligations hereunder shall terminate. 
  
 B. By Disability. If Executive is prevented from properly performing his duties hereunder by reason of any physical or mental incapacity for a
period of more than 90 days in the aggregate in any 365-day period, then, to the extent permitted by law, the Company may terminate the employment on the 90th day of such incapacity. In such event, the Company shall pay to Executive all Accrued
Compensation, and shall continue to pay to Executive the Base Salary until such time (but not more than 90 days following termination), as Executive shall become entitled to receive disability insurance payments under the disability insurance policy
maintained by the Company, which disability policy shall provide for full payment of Executive’s Base Salary during the period of disability, but no other compensation or reimbursement of any kind, including without limitation, severance
compensation, and thereafter the Company’s obligations hereunder shall terminate. Nothing in this Section shall affect Executive’s rights under any disability plan in which he is a participant. 
  

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 C. By Company for Cause. The Company may terminate Executive’s employment for Cause (as
defined below) without liability at any time with or without advance notice to Executive. The Company shall pay Executive all Accrued Compensation, but no other compensation or reimbursement of any kind, including without limitation, severance
compensation, and thereafter the Company’s obligations hereunder shall terminate. Termination shall be for “Cause” in the event of the occurrence of any of the following: (a) any intentional action or intentional failure to act by
Executive which was performed in bad faith and to the material detriment of the Company; (b) Executive intentionally refuses or intentionally fails to act in accordance with any lawful and proper direction or order of the Board; (c) gross negligence
by Executive in carrying out the duties of employment; or (d) Executive is convicted of a felony crime involving moral turpitude, provided that in the event that any of the foregoing events is capable of being cured, the Company shall provide
written notice to Executive describing the nature of such event and Executive shall thereafter have five (5) business days to cure such event. 
  
 D. At Will. At any time, the Company may terminate Executive’s employment without liability other than as set forth below, for any reason not
specified in Section 6.C above, by giving thirty (30) days advance written notice to Executive. If the Company elects to terminate Executive pursuant to this Section 6.D prior to a Change in Control, the Company shall pay to Executive all Accrued
Compensation and shall continue to pay to Executive as provided herein Executive’s Salary for six (6) months from the date of such termination as severance compensation. If the Company or its successor elects to terminate Executive pursuant to
this Section after a Change in Control, the Company (or its successor) shall continue to pay to Executive as provided herein Executive’s Salary for six (6) months from the date of such termination as severance compensation. Upon payment of the
severance benefits described herein, all obligations of the Company (or its successor) shall terminate. 
  
 During the period when such severance compensation is being paid to Executive, Executive shall not (i) engage, directly or indirectly, in any other
business activity that is competitive with, or that places him in a competing position to that of the Company or any Affiliated Company (provided that Executive may own less than two percent (2%) of the outstanding securities of any publicly traded
corporation), or (ii) hire, solicit, or attempt to hire on behalf of himself or any other party any employee or exclusive consultant of the Company. If the Company terminates this Agreement or the employment of Executive with the Company other than
pursuant to Section 6.A, 6.B or 6.C, then this Section 6.D shall apply. 
  
 E. Constructive Termination. In the event that the Company shall materially reduce the powers and duties of employment of Executive resulting in a material decrease in the responsibilities of Executive which are inconsistent with
Executive acting as a Chief Financial Officer of the Company, such action shall be deemed to be a termination of employment of Executive without cause pursuant to Section 6.D. 
  
 F. Change in Control. For purposes of this Agreement, a “Change in Control” shall have occurred if at any
time during the term of Executive’s employment hereunder, any of the following events shall occur: 
  
 1. The consummation of a merger or consolidation of the Company with or into another entity or any other corporate reorganization, if more than 50% of the
combined voting 

  

 -5- 

 
power of the continuing or surviving entity’s securities outstanding immediately after such merger, consolidation or other reorganization is owned by
persons who were not stockholders of the Company immediately prior to such merger, consolidation or other reorganization; 
  
 2. A change in the composition of the Board, as a result of which fewer than one-half of the incumbent directors are directors who either (1) had been
directors of the Company 24 months prior to such change; or (2) were elected, or nominated for election, to the Board with the affirmative votes of at least a majority of the directors who had been directors of the Company 24 months prior to such
change and who were still in office at the time of the election or nomination; or 
  
 3. Any “person” (as such term is used in Section 13(d) and Section 14 of the Exchange Act) by the acquisition of securities is or becomes the beneficial owner, directly or indirectly, of securities of the
Company representing 50% or more of the combined voting power of the Company’s then outstanding securities ordinarily (and apart from rights accruing under special circumstances) having the right to vote at elections of directors (the
“Base Capital Stock”) except that any change in the relative beneficial ownership of the Company’s securities resulting solely from a reduction in the aggregate number of outstanding shares of Base Capital Stock, and any decrease
thereafter in such person’s ownership of securities shall be disregarded until such person increases in any manner, directly or indirectly, such person’s beneficial ownership of any securities of the Company. Thus, for example, any person
who owns less than 50% of the Company’s outstanding shares, shall cause a Change in Control to occur as of any subsequent date if such person then acquires an additional interest in the Company which, when added to the person’s previous
holdings, causes the person to hold more than 50% of the Company’s outstanding shares. 
  
 The term “Change in Control” shall not include a transaction, the sole purpose of which is to change the state of the Company’s incorporation. 
  
 ARTICLE VII. 
  
 GENERAL PROVISIONS 
  
 A. Governing Law. The validity, interpretation, construction and
performance of this Agreement and the rights of the parties thereunder shall be interpreted and enforced under California law without reference to principles of conflicts of laws. The parties expressly agree that inasmuch as the Company’s
headquarters and principal place of business are located in California, it is appropriate that California law govern this Agreement. 
  
 B. Assignment; Successors; Binding Agreement. 
  
 1. Executive may not assign, pledge or encumber his interest in this Agreement or any part thereof. 
  
 2. The Company will require any successor (whether direct or indirect, by
purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company, operation of law or by agreement in form and substance reasonably satisfactory to Executive, to assume and agree to perform this
Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. 
  

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 3. This Agreement shall inure to the benefit of and be enforceable by Executive’s personal or legal
representatives, executors, administrators, successors, heirs, distributee, devisees and legatees. If Executive should die while any amount is at such time payable to him hereunder, all such amounts, unless otherwise provided herein, shall be paid
in accordance with the terms of this Agreement to Executive’s devisee, legates or other designee or, if there be no such designee, to his estate. 
  
 C. No Waiver of Breach. The waiver by any party of the breach of any provision of this Agreement shall not be deemed to be a waiver of any
subsequent breach. 
  
 D. Notice. For the purposes of this
Agreement, notices and all other communications provided for in this Agreement shall be in writing and shall be deemed to have been duly given when delivered or mailed by certified or registered mail, return receipt requested, postage prepaid,
addressed to the respective addresses set forth below or to such other address as either party may have furnished to the other in writing in accordance herewith, except that notice of change of address shall be effective only upon receipt.

  

			
	 To the Company:
	  	 Nanogen, Inc.

	 	  	 10398 Pacific Center Court

	 	  	 San Diego, CA 92121

	 	  	 Attn: Chief Executive Officer

		
	 To Executive:
	  	 Mr. Robert Saltmarsh

	 	  	 c/o Nanogen, Inc.

	 	  	 10398 Pacific Center Court

	 	  	 San Diego, CA 92121

  
 E. Modification;
Waiver; Entire Agreement. No provisions of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing signed by Executive and such officer as may be specifically designated by the
Board of the Company. No waiver by either party hereto at any time of any breach by the other party of, or compliance with, any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or
dissimilar provisions or conditions at the same or any prior or subsequent time. No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either party which are not
expressly set forth in this Agreement. 
  
 F. Validity. The
invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect. 
  
 G. Controlling Document. This Agreement supersedes any and all prior
employment agreements or consulting agreements between the Company and Executive, but does not supersede any other agreements between Company and Executive, including but not limited to, the Nanogen Inc. Restricted Stock Purchase Agreement, any
stock option agreements 

  

 -7- 

 
or common stock purchase agreements entered into pursuant to the Company’s 1997 Stock Incentive Plan, and the Nanogen Employees’ Handbook and
Policies, except as expressly provided herein. In case of conflict between any of the terms and conditions of this Agreement and the documents herein referred to, the terms and conditions of this Agreement shall control. 
  
 H. Executive Acknowledgment. Executive acknowledges (a) that he has
consulted with or has had the opportunity to consult with independent counsel of his own choice concerning this Agreement, and has been advised to do so by the Company, and (b) that he has read and understands the Agreement, is fully aware of its
legal effect, and has entered into it freely based on his own judgment. 
  
 I. Remedies. 
  
 1. Injunctive Relief. The
parties agree that the services to be rendered by Executive hereunder are of a unique nature and that in the event of any breach or threatened breach of any of the covenants contained herein, the damage or imminent damage to the value and the
goodwill of the Company’s business will be irreparable and extremely difficult to estimate, making any remedy at law or in damages inadequate. Accordingly, the parties agree that the Company shall be entitled to injunctive relief against
Executive in the event of any breach or threatened breach of any such provisions by Executive, in addition to any other relief (including damages) available to the Company under this Agreement or under law. 
  
 2. Exclusive. Both parties agree that the remedy specified in Section
7.I.1 above is not exclusive of any other remedy for the breach by Executive of the terms hereof. 
  
 J. Counterparts. This Agreement may be executed in one or more counterparts, all of which taken together shall constitute one and the same
Agreement. 
  
 Executed by the parties as of the day and year
first above written. 
  

			
	 NANOGEN, INC.

		
	 By:
	 	 Howard C. Birndorf

	 	 	 Howard C. Birndorf

	 	 	 Chairman & CEO

	
	 EXECUTIVE:

		
	 By:
	 	 Robert Saltmarsh

	 	 	 Robert Saltmarsh

  
  

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