PERSONAL & CONFIDENTIAL January 15, 2008 Eliot M. Lurier 3 Whitridge Road Natick, MA 01760 Dear Eliot: Re: Revised Terms of EmploymentRevised Terms of Employment • March 4th, 2008 • NUCRYST Pharmaceuticals Corp. • Surgical & medical instruments & apparatus • Massachusetts
This letter (“Letter Agreement”) sets out the amendments we are prepared to offer to make to the terms of your employment with NUCRYST Pharmaceuticals Inc. and its subsidiaries (“NUCRYST”) that were set forth in our Offer of Employment dated March 16, 2005 and accepted by you on March 17, 2005, as previously amended (the “Terms of Employment”). Accordingly, effective January 1, 2008, we offer to amend the Terms of Employment as follows:
SURRENDER OF LEASESurrender of Lease • March 4th, 2008 • NUCRYST Pharmaceuticals Corp. • Surgical & medical instruments & apparatus
WHEREAS THE WESTAIM CORPORATION (“Lessor”) and NUCRYST PHARMACEUTICALS CORP. (“Lessee”) entered into a Memorandum of Lease Agreement dated July 1, 2005 (the” Original Lease Agreement”) which was amended by Letter Agreement dated November 14, 2005 (the “First Amending Lease Agreement”), by a second amending lease agreement dated April 27, 2006 (the “Second Amending Lease Agreement”), by a third amending lease agreement dated August 8, 2006 (the “Third Amending Lease Agreement”), and by a fourth amending lease agreement dated April 30, 2007 (the “Fourth Amending Lease Agreement”), collectively the “Lease Agreement”;
PERSONAL & CONFIDENTIAL November 16, 2007 David C. McDowell 11 Palomino Drive Carlisle, Ontario LOR 1H3 Dear David, Re: Revised Terms of EmploymentRevised Terms of Employment • March 4th, 2008 • NUCRYST Pharmaceuticals Corp. • Surgical & medical instruments & apparatus • Alberta
This letter (“Letter Agreement”) sets out the amendments we agreed to make to the terms of your employment with NUCRYST Pharmaceuticals Corp. (“NUCRYST”) that were set forth in our Revised Offer of Employment dated June 15, 2005 and accepted by you on June 19, 2005, as previously amended (the “Terms of Employment”). Accordingly, effective September 1, 2007, we agree to amend the Terms of Employment as follows:
SURRENDER OF LEASESurrender of Lease • March 4th, 2008 • NUCRYST Pharmaceuticals Corp. • Surgical & medical instruments & apparatus
WHEREAS THE WESTAIM CORPORATION (“Lessor”) and NUCRYST PHARMACEUTICALS CORP. (“Lessee”) entered into a Memorandum of Lease Agreement dated July 1, 2005 (the” Original Lease Agreement”) which was amended by Letter Agreement dated November 14, 2005 (the “First Amending Lease Agreement”), by a second amending lease agreement dated April 27, 2006 (the “Second Amending Lease Agreement”), by a third amending lease agreement dated August 8, 2006 (the “Third Amending Lease Agreement”), and by a fourth amending lease agreement dated April 30, 2007 (the “Fourth Amending Lease Agreement”), collectively the “Lease Agreement”;
