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Biotech / Medical : Cistron Biotechnology(CIST)$.30 -- Ignore unavailable to you. Want to Upgrade?

To: Steve Harmon who wrote (2165)	5/8/1999 5:35:00 PM
From: John Metcalf	Read Replies (1) \| Respond to of 2742

Cistron's 10-K addressed the issue of Galton's employment contract (below). The value of his exercisable, in-the-money options was less than $25k. Personally, I would like to see the stock price higher for myself, even though Galton will benefit as well. After all, that's the purpose of stock options. The employment agreement of Mr. Galton provides that in the event the employment of Mr. Galton is terminated without cause by the Board of Directors, or if the Company refuses to renew the employment agreement of Mr. Galton, then upon his written request, the Company will (i) pay Mr. Galton an amount equal to six months of Mr. Galton's current salary in equal monthly installments, commencing the month in which the termination occurs or the salary which would be due under the remaining unexpired term of the agreement, whichever is greater, (ii) enter into a consulting contract with Mr. Galton at full pay and benefits for a minimum of three months and (iii) lend Mr. Galton such amount as may be required to exercise any stock options then exercisable by Mr. Galton to purchase shares of the Company's Common Stock.