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EMPLOYMENT AGREEMENT OF MICHAEL R. STAPLETON
This employment agreement (the "Agreement") is made and entered into as of the day of May 1, 2001 by and between
Pharmacopeia, Inc., (hereinafter the "Company"), and Dr. Micheal R. Stapleton (hereinafter "Dr. Stapleton").
WHEREAS, Dr. Stapleton has been employed by the company in the United Kingdom;
WHEREAS, the Company desires to employ Dr. Stapleton in the United States to render services in the capacity of Executive
Vice President and Chief Operating Officer on the terms set forth in this Agreement;
WHEREAS, Dr. Stapleton desires to render services in the capacity of Executive Vice President and Chief Operating Officer
on the terms set forth in this Agreement;
NOW, THEREFORE, in consideration of their mutual promises and intending to be legally bound, the parties agree as follows:
a. The Company agrees to employ Dr. Stapleton as Executive Vice President and Chief Operating Officer upon the
terms and conditions set forth in this Agreement.
b. Effective January 1, 2001, Dr. Stapleton will assume the position of Executive Vice President and Chief Operating
Officer. Dr. Stapleton will be based in San Diego, California, and will report directly to the Chief Executive Officer of the
Company. Pending Dr. Stapleton's relocation, he will temporarily perform his duties hereunder at the Company's facility
on the United Kingdom.
c. Dr. Stapleton's duties, powers and responsibilities as Executive Vice President and Chief Operating Officer shall be
those which are customary for such position, as may be determined from time to time by the Board of Directors of the
Company ("the Board") and the Chief Executive Officer. Dr. Stapleton agrees to perform and discharge such duties well
and faithfully and to be subject to the supervision and direction of the Board and of the Chief Executive Officer.