content: <html>
  
  <head>
  
  
  
  
  
  </head>
  
  <body lang="EN-US">
  
  <div style="font-family:Times New Roman;">
  
  <div style="border:none;border-top:double windowtext 6.0pt;padding:0in 0in 0in 0in;">
  
  <p align="center" style="border:none;margin:0in 0in .0001pt;padding:0in;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  
  </div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">UNITED STATES</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WASHINGTON, D. C. &#160;20549</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">FORM&nbsp;8-K</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">CURRENT
  REPORT</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">PURSUANT TO
  SECTION&nbsp;13 OR 15(d)&nbsp;OF THE</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">SECURITIES
  EXCHANGE ACT OF 1934</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">DATE OF REPORT (DATE OF EARLIEST
  EVENT REPORTED):<br>
  April&nbsp;22, 2008</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">MACROCHEM</font></b><b><font size="5" style="font-size:18.0pt;font-weight:bold;"> CORPORATION</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Exact name of registrant as specified in its charter)</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div align="center">
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Delaware</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">0-13634</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">04 2744744</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or other jurisdiction of <br>
    incorporation or organization)</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Commission file number)</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(IRS employer
    identification<br>
    number)</font></p>
    </td>
   </tr>
  </table>
  
  </div>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">80 Broad Street, Suite&nbsp;2210, New
  York, NY 10004</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address of
  Principal Executive Offices) (Zip Code)</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Registrant&#146;s telephone number, including area code:&#160; <b>(212) 514-8094</b></font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Former name or
  former address, if changed since last report)</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">
  
  <hr size="1" width="25%" noshade color="black" align="center">
  
  </font></b></div>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check the appropriate box
  below if the Form&nbsp;8-K filing is intended to simultaneously satisfy the
  filing obligation of the registrant under any of the following provisions:</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <table border="0" cellspacing="0" cellpadding="0" width="104%" style="border-collapse:collapse;width:104.04%;">
   <tr>
    <td width="37" valign="top" style="padding:0in 0in 0in 0in;width:27.9pt;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
    </td>
    <td width="612" valign="top" style="padding:0in 0in 0in 0in;width:459.0pt;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Written communications
    pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</font></p>
    </td>
   </tr>
   <tr>
    <td width="37" valign="top" style="padding:0in 0in 0in 0in;width:27.9pt;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
    </td>
    <td width="612" valign="top" style="padding:0in 0in 0in 0in;width:459.0pt;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Soliciting material
    pursuant to rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>
    </td>
   </tr>
   <tr>
    <td width="37" valign="top" style="padding:0in 0in 0in 0in;width:27.9pt;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
    </td>
    <td width="612" valign="top" style="padding:0in 0in 0in 0in;width:459.0pt;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pre-commencement
    communications pursuant to rule&nbsp;14d-2(b)&nbsp;under the Exchange Act (17
    CFR 240.14d-2(b))</font></p>
    </td>
   </tr>
   <tr>
    <td width="37" valign="top" style="padding:0in 0in 0in 0in;width:27.9pt;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
    </td>
    <td width="612" valign="top" style="padding:0in 0in 0in 0in;width:459.0pt;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pre-commencement
    communications pursuant to rule&nbsp;13e-4(c)&nbsp;under the Exchange Act (17
    CFR 240.13e-4(c))</font></p>
    </td>
   </tr>
  </table>
  
  <div style="border:none;border-bottom:double windowtext 6.0pt;padding:0in 0in 0in 0in;">
  
  <p align="center" style="border:none;margin:0in 0in .0001pt;padding:0in;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  </div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='',FILE='C:\JMS\dtodman\08-12480-2\task2893675\12480-2-ba.htm',USER='dtodman',CD='Apr 25 12:17 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div style="font-family:Times New Roman;">
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 5.02.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Appointment of Certain Officers; Compensatory
  Arrangements of Certain Officers.</font></b></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Appointment
  of New Chief Executive Officer</font></i></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&nbsp;
  and (e)&nbsp; On April&nbsp;22, 2008, James M. Pachence was appointed Chief
  Executive Officer of MacroChem Corporation (&#147;MacroChem&#148;).&#160; Dr.&nbsp;Pachence, age 55, has served as a
  Director of MacroChem since April&nbsp;18, 2008.&#160; Dr.&nbsp;Pachence will continue to serve as
  Chief Executive Officer until his successor is chosen or he is removed from such
  office by a majority vote of the Board of Directors in accordance with
  MacroChem&#146;s by-laws.</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">MacroChem acquired Virium
  Pharmaceuticals Inc. (&#147;Virium&#148;), </font><font size="2" style="font-size:10.0pt;">a privately held
  biotechnology company focused primarily on oncology based technology</font><font size="2" style="font-size:10.0pt;">, pursuant to the terms of an Agreement
  and Plan of Merger (the &#147;Merger Agreement&#148;) dated as of April&nbsp;18, 2008
  (the &#147;Effective Time&#148;) by and among MacroChem, VRM Acquisition, LLC, a Delaware
  limited liability company and a direct wholly-owned subsidiary of MacroChem (&#147;VRM
  Acquisition&#148;), Virium and Virium Holdings,&nbsp;Inc., a non-public Delaware
  corporation (&#147;Holdings&#148;) and the parent of Virium.&#160; On the Effective Date, VRM Acquisition merged
  with and into Virium with Virium continuing as the surviving company and a
  wholly-owned subsidiary of MacroChem (the &#147;Merger&#148;). &#160;Pursuant to the Merger Agreement, each share
  of Virium common stock outstanding at the Effective Time was converted into the
  right to receive 0.89387756 shares of MacroChem common stock (the &#147;Merger
  Consideration&#148;) resulting in an aggregate of 22,899,206 shares of MacroChem
  common stock being issued in the Merger.&#160;
  Dr.&nbsp;Pachence held approximately 1.76% of the outstanding stock of
  Holdings at the Effective Time.&#160; The
  dollar value of the MacroChem shares which Dr.&nbsp;Pachence was entitled to
  receive based upon his ownership of Holdings and MacroChem&#146;s stock price on the
  date of the consummation of the Merger was $120,673.47.</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Prior
  to joining MacroChem, Dr.&nbsp;Pachence served as the President&nbsp;&amp; CEO
  of Virium, from 2005 to 2008.&#160; Prior to
  joining Virium, Dr.&nbsp;Pachence served as CEO of VectraMed from 1999 to 2005,
  where he designed, developed, and implemented strategies for product
  development in the field of drug delivery and oncology drugs, with a focus on
  establishment of commercially-viable opportunities. Dr.&nbsp;Pachence was
  Founder, President and Chief Scientific Officer of MediMatrix,&nbsp;Inc., from
  1986 to 1989 which formed the basis of Integra LifeSciences, a public company
  focused on tissue engineering.&#160; Dr.&nbsp;Pachence
  was Vice President of R&amp;D while at Integra from 1989 to 1994.&#160; At Integra, he was responsible for technology
  licensing, industrial and academic R&amp;D, and product development.&#160; Dr.&nbsp;Pachence graduated from University
  of Pennsylvania with a major in Physics (magna cum laude) and holds a Ph.D. in
  Biophysics from the University of Pennsylvania (summa cum laude).</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On
  April&nbsp;22, 2008, Dr.&nbsp;Pachence entered into an employment agreement of
  indefinite length with MacroChem, which contains the following material terms:</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Initial base
  salary of $250,000 per year.</p>
  
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Eligibility to
  receive an annual bonus of up to 50% of his annual salary.</p>
  
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Dr.&nbsp;Pachence
  is entitled to paid vacation and will participate in other broad-based employee
  benefit programs of MacroChem.</p>
  
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Standard
  perpetual confidentiality provisions as well as customary non-competition and
  non-solicitation covenants for the term of Dr.&nbsp;Pachence&#146;s employment and
  for 6 months following any termination other than termination in connection
  with a change of control which would provide periods for such covenants of 18
  and 12 months respectively.</p>
  
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>On April&nbsp;22,
  2008, Dr.&nbsp;Pachence received an option to purchase 2,290,000 shares of
  MacroChem&#146;s common stock, with an exercise price equal to $0.30 per share, of
  which 572,500 of the shares subject to the option vested on April&nbsp;22, 2008
  and thereafter 143,124 shares shall vest and become exercisable every 90 days until
  April&nbsp;22, 2011.</p>
  
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>If Dr.&nbsp;Pachence
  is terminated by MacroChem Without Cause (as defined in his employment agreement)
  following the consummation of the First Financing (as defined in his employment
  agreement), he would be entitled to (i)&nbsp;payment equal to 100% of his then
  current annual base salary and target bonus, (ii)&nbsp;continued employee
  benefits for a period of 12 months following the date of termination, and (iii)&nbsp;acceleration
  of outstanding equity awards based upon the following schedule:</p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='2',FILE='C:\JMS\dtodman\08-12480-2\task2893675\12480-2-ba.htm',USER='dtodman',CD='Apr 25 12:17 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div style="font-family:Times New Roman;">
  
  <p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>If during the
  first year of employment, all unvested options due to vest during the then
  current calendar quarter and the next calendar quarter would vest and become
  exercisable;</p>
  
  <p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>If during the
  second year of employment, all unvested options due to vest during the then
  current calendar quarter and the next two calendar quarters would vest and
  become exercisable; and</p>
  
  <p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>If during the
  third year of employment, all unvested options due to vest during the then
  current calendar quarter and the next three calendar quarters would vest and
  become exercisable.</p>
  
  <p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>If Dr.&nbsp;Pachence
  resigns for Good Reason (as defined in his employment agreement) following the
  consummation of the First Financing (as defined in his employment agreement), (i)&nbsp;he
  would be entitled to payment equal to 100% of his then current annual base
  salary and target bonus, (ii)&nbsp;all options previously vested would remain
  vested and exercisable and (iii)&nbsp;all unvested options would vest on the
  same schedule as if Dr.&nbsp;Pachence had not resigned.</p>
  
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>At any time
  after the completion of the First Financing and following, or in anticipation
  of, a Change of Control (as defined in his employment agreement) if Dr.&nbsp;Pachence
  is terminated by MacroChem Without Cause (as defined in his employment
  agreement) or Dr.&nbsp;Pachence terminates his employment for Good Reason (as
  defined in his employment agreement), (i)&nbsp;any outstanding stock option
  would become fully vested and exercisable to the extent such option were
  scheduled to vest within one year following such event and would remain
  exercisable for the lesser of one year and the maximum stated term of such
  option, (ii)&nbsp;any restricted shares would become fully vested and
  exercisable to the extent such option were scheduled to vest within one year
  following such event and (iii)&nbsp;he would be entitled to payment equal to
  200% of his then current annual base salary and target bonus.</p>
  
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>In the event
  that any benefit payable to Dr.&nbsp;Pachence will be subject to any &#147;golden
  parachute&#148; excise tax imposed by section 4999 of the Internal Revenue Code,
  such payments shall be reduced to the largest amount that would result in no
  payment being subject to such excise tax.</p>
  
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Appointment
  of New President and Chief Business Officer</font></i></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)&nbsp;
  and (e)&nbsp;On April&nbsp;22, 2008, David P. Luci was appointed President and
  Chief Business Officer of MacroChem.&#160; Mr.&nbsp;Luci,
  age 41, has served as General Counsel, Vice President Corporate Development and
  Corporate Secretary since joining MacroChem on December&nbsp;6, 2007, Chief
  Financial Officer since March&nbsp;19, 2008 and Director of MacroChem since April&nbsp;18,
  2008.&#160; Upon his appointment as President
  and Chief Business Officer, Mr.&nbsp;Luci assumed the responsibilities of Chief
  Operating Officer and will continue to serve as Chief Financial Officer and
  General Counsel until his successor is chosen or he is removed from any such
  office by a majority vote of the Board of Directors in accordance with
  MacroChem&#146;s by-laws.</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mr.&nbsp;Luci
  has over 16 years of experience servicing or working in the finance, accounting
  and legal functions within the healthcare industry.&#160; Mr.&nbsp;Luci formerly served as the </font><font size="2" style="font-size:10.0pt;">Executive Vice President, General Counsel
  and Corporate Secretary of </font><font size="2" style="font-size:10.0pt;">Bioenvision,&nbsp;Inc. from December&nbsp;2006
  through July&nbsp;2007.&#160; Prior to that, Mr.&nbsp;Luci
  served as the Chief Financial Officer, General Counsel and Corporate Secretary
  of Bioenvision,&nbsp;Inc. from July&nbsp;2004 through December&nbsp;2006, after
  serving as Director of Finance, General Counsel and Corporate Secretary since July&nbsp;2002.&#160; </font><font size="2" style="font-size:10.0pt;">Bioenvision&#146;s primary focus was developing compounds
  for the treatment of cancer.&#160; In October&nbsp;2007,
  Bioenvision was acquired by Genzyme Corporation.&#160; </font><font size="2" style="font-size:10.0pt;">From September&nbsp;1994 to July&nbsp;2002,
  Mr.&nbsp;Luci served as a corporate attorney at Paul, Hastings, Janofsky&nbsp;&amp;
  Walker LLP.&#160; Prior to that, Mr.&nbsp;Luci
  served as a senior auditor at Ernst&nbsp;&amp; Young LLP.&#160; Mr.&nbsp;Luci is a certified public
  accountant. He holds a Bachelor of Science in Business Administration with a
  concentration in accounting from Bucknell University and a J.D. (cum laude)
  from Albany Law School of Union University.&#160;
  Mr.&nbsp;Luci is also a member of the board of directors, and the audit
  committee chairman and compensation committee chairman of Access
  Pharmaceuticals,&nbsp;Inc., a biopharmaceutical company focused on development
  of novel therapies for cancer and other indications.</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On
  April&nbsp;22, 2008, Mr.&nbsp;Luci entered into an amended and restated employment
  agreement of indefinite length with MacroChem, which contains the following
  material terms:</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Initial base
  salary of $250,000 per year.</p>
  
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Eligibility to
  receive an annual bonus of up to 50% of his annual salary.</p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='3',FILE='C:\JMS\dtodman\08-12480-2\task2893675\12480-2-ba.htm',USER='dtodman',CD='Apr 25 12:17 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div style="font-family:Times New Roman;">
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>One-time bonus
  of $75,000 upon consummation of an equity financing of $5 million or more in
  gross proceeds.</p>
  
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Mr.&nbsp;Luci is
  entitled to paid vacation and will participate in other broad-based employee
  benefit programs of MacroChem.</p>
  
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Standard
  perpetual confidentiality provisions as well as customary non-competition and
  non-solicitation covenants for the term of Mr.&nbsp;Luci&#146;s employment and for 6
  months following any termination other than termination in connection with a
  change of control which would provide periods for such covenants of 18 and 12
  months respectively.</p>
  
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>On April&nbsp;22,
  2008, Mr.&nbsp;Luci received an option to purchase 2,290,000 shares of
  MacroChem&#146;s common stock, with an exercise price equal to $0.30 per share, of
  which 572,500 of the shares subject to the option vested on April&nbsp;22, 2008
  and thereafter 143,124 shares shall vest and become exercisable every 90 days
  until April&nbsp;22, 2011.</p>
  
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>If Mr.&nbsp;Luci
  is terminated by MacroChem Without Cause (as defined in his employment
  agreement) following the consummation of the First Financing (as defined in his
  employment agreement), he would be entitled to (i)&nbsp;payment equal to 100%
  of his then current annual base salary and target bonus, (ii)&nbsp;continued
  employee benefits for a period of 12 months following the date of termination,
  and (iii)&nbsp;acceleration of outstanding equity awards based upon the
  following schedule:</p>
  
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>If during the
  first year of employment, all unvested options due to vest during the then
  current calendar quarter and the next calendar quarter would vest and become
  exercisable;</p>
  
  <p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>If during the
  second year of employment, all unvested options due to vest during the then
  current calendar quarter and the next two calendar quarters would vest and
  become exercisable; and</p>
  
  <p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>If during the
  third year of employment, all unvested options due to vest during the then
  current calendar quarter and the next three calendar quarters would vest and
  become exercisable.</p>
  
  <p style="margin:0in 0in .0001pt .75in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>If Mr.&nbsp;Luci
  resigns for Good Reason (as defined in his employment agreement) following the
  consummation of the First Financing (as defined in his employment agreement), (i)&nbsp;he
  would be entitled to payment equal to 100% of his then current annual base salary
  and target bonus, (ii)&nbsp;all options previously vested would remain vested
  and exercisable and (iii)&nbsp;all unvested options would vest on the same
  schedule as if Mr.&nbsp;Luci had not resigned.</p>
  
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Following, or in
  anticipation of, a Change of Control (as defined in his employment agreement)
  if Mr.&nbsp;Luci is terminated by MacroChem Without Cause (as defined in his
  employment agreement) or Mr.&nbsp;Luci terminates his employment for Good
  Reason (as defined in his employment agreement), (i)&nbsp;any outstanding stock
  option would become fully vested and exercisable to the extent such option were
  scheduled to vest within one year following such event and would remain
  exercisable for the lesser of one year and the maximum stated term of such
  option, (ii)&nbsp;any restricted shares would become fully vested and
  exercisable to the extent such option were scheduled to vest within one year
  following such event and (iii)&nbsp;he would be entitled to payment equal to
  200% of his then current annual base salary and target bonus.</p>
  
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>In the event that
  any benefit payable to Mr.&nbsp;Luci will be subject to any &#147;golden parachute&#148;
  excise tax imposed by section 4999 of the Internal Revenue Code, such payments
  shall be reduced to the largest amount that would result in no payment being
  subject to such excise tax.</p>
  
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">Appointment
  of New Chairman</font></i></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b),
  (c)&nbsp; and (e)&nbsp; On April&nbsp;22, 2008, Robert J. DeLuccia resigned as
  President and Chief Executive Officer and was appointed Chairman of
  MacroChem.&#160; Mr.&nbsp;DeLuccia, age 62,
  has served as a Director of MacroChem since 2000. &#160;Mr.&nbsp;DeLuccia will continue to serve as Chairman
  until his successor is chosen or he is removed from such office by a majority
  vote of the Board of Directors in accordance with MacroChem&#146;s by-laws.</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mr.&nbsp;DeLuccia
  served as our President and Chief Executive Officer and Vice Chairman of the
  Board of Directors since June&nbsp;2003. From 1998 to 1999, Mr.&nbsp;DeLuccia
  served as President and Chief Executive Officer of Immunomedics,&nbsp;Inc., a
  Nasdaq-listed biopharmaceutical company focused on the development and</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='4',FILE='C:\JMS\dtodman\08-12480-2\task2893675\12480-2-ba.htm',USER='dtodman',CD='Apr 25 12:17 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div style="font-family:Times New Roman;">
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">commercialization
  of antibody diagnostic imaging and therapeutic products for cancer and
  infectious diseases. &#160;Prior to
  Immunomedics, he was President of Sterling Winthrop Pharmaceuticals, the U.S.
  subsidiary of Sanofi (now Sanofi-Aventis). &#160;Mr.&nbsp;DeLuccia began his career as a
  pharmaceutical sales representative for Pfizer and progressed to Vice President
  Marketing and Sales Operations for Pfizer&#146;s Roerig Division. &#160;He is also a member of the board of directors
  of IBEX Technologies, a publicly traded (TSX Venture Exchange) pharmaceutical
  company that markets a series of proprietary enzymes (heparinases and
  chondroitinases) for research use, as well as Heparinase I., which is used in
  many leading homeostasis mentoring devices.&#160;
  Mr.&nbsp;DeLuccia holds both a B.S. and an M.B.A. in marketing from Iona
  College.</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On
  April&nbsp;22, 2008, Mr.&nbsp;DeLuccia entered into a letter of employment with
  MacroChem, which replaces any and all prior agreements between Mr.&nbsp;DeLuccia
  and MacroChem, other than those set forth in any option agreement between the
  two parties, and contains the following material terms:</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Initial base
  salary of $150,000 per year.</p>
  
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>A guaranteed
  bonus of $37,500 for the year ended December&nbsp;31, 2008.</p>
  
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Mr.&nbsp;DeLuccia
  is entitled to paid vacation and will participate in other broad-based employee
  benefit programs of MacroChem.</p>
  
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Immediate
  vesting of 75,000 previously granted restricted shares of MacroChem common
  stock.</p>
  
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Symbol" style="font-size:10.0pt;">&#183;</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Initial term of
  1 year.</p>
  
  <p style="margin:0in 0in .0001pt .5in;text-indent:-.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The respective employment
  agreements of Dr.&nbsp;Pachence and Mr.&nbsp;Luci and the letter of employment
  of Mr.&nbsp;DeLuccia will be filed as exhibits to MacroChem&#146;s Quarterly Report
  on Form&nbsp;10-Q filed on or before May&nbsp;15, 2008.</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='5',FILE='C:\JMS\dtodman\08-12480-2\task2893675\12480-2-ba.htm',USER='dtodman',CD='Apr 25 12:17 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SIGNATURE</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the
  requirements of the Securities Exchange Act of 1934, the registrant has duly
  caused this report to be signed on its behalf by the undersigned hereunto duly
  authorized.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">MACROCHEM CORPORATION</font></b></p>
  
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.34%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;Dated: April&nbsp;25, 2008</font></p>
    </td>
    <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.92%;">
    <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By</font></p>
    </td>
    <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="42%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:42.76%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ David P. Luci</font></p>
    </td>
   </tr>
   <tr>
    <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.34%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.92%;">
    <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
    </td>
    <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="42%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:42.76%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">David P. Luci</font></p>
    </td>
   </tr>
   <tr>
    <td width="49%" valign="top" style="padding:0in 0in 0in 0in;width:49.34%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.92%;">
    <p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
    </td>
    <td width="1%" valign="top" style="padding:0in 0in 0in 0in;width:1.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.76%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">President and Chief
    Business Officer</font></p>
    </td>
   </tr>
  </table>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='6',FILE='C:\JMS\dtodman\08-12480-2\task2893675\12480-2-ba.htm',USER='dtodman',CD='Apr 25 12:17 2008' -->
  
  
  </body>
  
  </html>
metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "a08-12480_28k.htm", "description": "8-K", "secsgml_size_bytes": 50987}]
metadata_filer: {"company-data": {"conformed-name": "MACROCHEM CORP", "cik": "0000743884", "assigned-sic": "2834", "irs-number": "042744744", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-13634", "film-number": "08777873"}, "business-address": {"street1": "40 WASHINGTON STREET", "street2": "SUITE 220", "city": "WELLESLEY HILLS", "state": "MA", "zip": "02481", "phone": "781-489-7310"}, "mail-address": {"street1": "40 WASHINGTON STREET", "street2": "SUITE 220", "city": "WELLESLEY HILLS", "state": "MA", "zip": "02481"}}
text: UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D. C.  20549
  FORM 8-K
  CURRENT
  REPORT
  PURSUANT TO
  SECTION 13 OR 15(d) OF THE
  SECURITIES
  EXCHANGE ACT OF 1934
  DATE OF REPORT (DATE OF EARLIEST
  EVENT REPORTED):
  April 22, 2008
  MACROCHEM
  CORPORATION
  (Exact name of registrant as specified in its charter)
  Delaware
  0-13634
  04 2744744
  (State or other jurisdiction of
  incorporation or organization)
  (Commission file number)
  (IRS employer
    identification
  number)
  80 Broad Street, Suite 2210, New
  York, NY 10004
  (Address of
  Principal Executive Offices) (Zip Code)
  Registrant's telephone number, including area code:
  (212) 514-8094
  (Former name or
  former address, if changed since last report)
  Check the appropriate box
  below if the Form 8-K filing is intended to simultaneously satisfy the
  filing obligation of the registrant under any of the following provisions:
  o
  Written communications
    pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  o
  Soliciting material
    pursuant to rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  o
  Pre-commencement
    communications pursuant to rule 14d-2(b) under the Exchange Act (17
    CFR 240.14d-2(b))
  o
  Pre-commencement
    communications pursuant to rule 13e-4(c) under the Exchange Act (17
    CFR 240.13e-4(c))
  Item 5.02.              Appointment of Certain Officers; Compensatory
  Arrangements of Certain Officers.
  Appointment
  of New Chief Executive Officer
  (c) 
  and (e)  On April 22, 2008, James M. Pachence was appointed Chief
  Executive Officer of MacroChem Corporation ("MacroChem").  Dr. Pachence, age 55, has served as a
  Director of MacroChem since April 18, 2008.  Dr. Pachence will continue to serve as
  Chief Executive Officer until his successor is chosen or he is removed from such
  office by a majority vote of the Board of Directors in accordance with
  MacroChem's by-laws.
  MacroChem acquired Virium
  Pharmaceuticals Inc. ("Virium"),
  a privately held
  biotechnology company focused primarily on oncology based technology
  , pursuant to the terms of an Agreement
  and Plan of Merger (the "Merger Agreement") dated as of April 18, 2008
  (the "Effective Time") by and among MacroChem, VRM Acquisition, LLC, a Delaware
  limited liability company and a direct wholly-owned subsidiary of MacroChem ("VRM
  Acquisition"), Virium and Virium Holdings, Inc., a non-public Delaware
  corporation ("Holdings") and the parent of Virium.  On the Effective Date, VRM Acquisition merged
  with and into Virium with Virium continuing as the surviving company and a
  wholly-owned subsidiary of MacroChem (the "Merger").  Pursuant to the Merger Agreement, each share
  of Virium common stock outstanding at the Effective Time was converted into the
  right to receive 0.89387756 shares of MacroChem common stock (the "Merger
  Consideration") resulting in an aggregate of 22,899,206 shares of MacroChem
  common stock being issued in the Merger. 
  Dr. Pachence held approximately 1.76% of the outstanding stock of
  Holdings at the Effective Time.  The
  dollar value of the MacroChem shares which Dr. Pachence was entitled to
  receive based upon his ownership of Holdings and MacroChem's stock price on the
  date of the consummation of the Merger was $120,673.47.
  Prior
  to joining MacroChem, Dr. Pachence served as the President & CEO
  of Virium, from 2005 to 2008.  Prior to
  joining Virium, Dr. Pachence served as CEO of VectraMed from 1999 to 2005,
  where he designed, developed, and implemented strategies for product
  development in the field of drug delivery and oncology drugs, with a focus on
  establishment of commercially-viable opportunities. Dr. Pachence was
  Founder, President and Chief Scientific Officer of MediMatrix, Inc., from
  1986 to 1989 which formed the basis of Integra LifeSciences, a public company
  focused on tissue engineering.  Dr. Pachence
  was Vice President of R&D while at Integra from 1989 to 1994.  At Integra, he was responsible for technology
  licensing, industrial and academic R&D, and product development.  Dr. Pachence graduated from University
  of Pennsylvania with a major in Physics (magna cum laude) and holds a Ph.D. in
  Biophysics from the University of Pennsylvania (summa cum laude).
  On
  April 22, 2008, Dr. Pachence entered into an employment agreement of
  indefinite length with MacroChem, which contains the following material terms:
  ·
  Initial base
  salary of $250,000 per year.
  ·
  Eligibility to
  receive an annual bonus of up to 50% of his annual salary.
  ·
  Dr. Pachence
  is entitled to paid vacation and will participate in other broad-based employee
  benefit programs of MacroChem.
  ·
  Standard
  perpetual confidentiality provisions as well as customary non-competition and
  non-solicitation covenants for the term of Dr. Pachence's employment and
  for 6 months following any termination other than termination in connection
  with a change of control which would provide periods for such covenants of 18
  and 12 months respectively.
  ·
  On April 22,
  2008, Dr. Pachence received an option to purchase 2,290,000 shares of
  MacroChem's common stock, with an exercise price equal to $0.30 per share, of
  which 572,500 of the shares subject to the option vested on April 22, 2008
  and thereafter 143,124 shares shall vest and become exercisable every 90 days until
  April 22, 2011.
  ·
  If Dr. Pachence
  is terminated by MacroChem Without Cause (as defined in his employment agreement)
  following the consummation of the First Financing (as defined in his employment
  agreement), he would be entitled to (i) payment equal to 100% of his then
  current annual base salary and target bonus, (ii) continued employee
  benefits for a period of 12 months following the date of termination, and (iii) acceleration
  of outstanding equity awards based upon the following schedule:
  2
  ·
  If during the
  first year of employment, all unvested options due to vest during the then
  current calendar quarter and the next calendar quarter would vest and become
  exercisable;
  ·
  If during the
  second year of employment, all unvested options due to vest during the then
  current calendar quarter and the next two calendar quarters would vest and
  become exercisable; and
  ·
  If during the
  third year of employment, all unvested options due to vest during the then
  current calendar quarter and the next three calendar quarters would vest and
  become exercisable.
  ·
  If Dr. Pachence
  resigns for Good Reason (as defined in his employment agreement) following the
  consummation of the First Financing (as defined in his employment agreement), (i) he
  would be entitled to payment equal to 100% of his then current annual base
  salary and target bonus, (ii) all options previously vested would remain
  vested and exercisable and (iii) all unvested options would vest on the
  same schedule as if Dr. Pachence had not resigned.
  ·
  At any time
  after the completion of the First Financing and following, or in anticipation
  of, a Change of Control (as defined in his employment agreement) if Dr. Pachence
  is terminated by MacroChem Without Cause (as defined in his employment
  agreement) or Dr. Pachence terminates his employment for Good Reason (as
  defined in his employment agreement), (i) any outstanding stock option
  would become fully vested and exercisable to the extent such option were
  scheduled to vest within one year following such event and would remain
  exercisable for the lesser of one year and the maximum stated term of such
  option, (ii) any restricted shares would become fully vested and
  exercisable to the extent such option were scheduled to vest within one year
  following such event and (iii) he would be entitled to payment equal to
  200% of his then current annual base salary and target bonus.
  ·
  In the event
  that any benefit payable to Dr. Pachence will be subject to any "golden
  parachute" excise tax imposed by section 4999 of the Internal Revenue Code,
  such payments shall be reduced to the largest amount that would result in no
  payment being subject to such excise tax.
  Appointment
  of New President and Chief Business Officer
  (c) 
  and (e) On April 22, 2008, David P. Luci was appointed President and
  Chief Business Officer of MacroChem.  Mr. Luci,
  age 41, has served as General Counsel, Vice President Corporate Development and
  Corporate Secretary since joining MacroChem on December 6, 2007, Chief
  Financial Officer since March 19, 2008 and Director of MacroChem since April 18,
  2008.  Upon his appointment as President
  and Chief Business Officer, Mr. Luci assumed the responsibilities of Chief
  Operating Officer and will continue to serve as Chief Financial Officer and
  General Counsel until his successor is chosen or he is removed from any such
  office by a majority vote of the Board of Directors in accordance with
  MacroChem's by-laws.
  Mr. Luci
  has over 16 years of experience servicing or working in the finance, accounting
  and legal functions within the healthcare industry.  Mr. Luci formerly served as the
  Executive Vice President, General Counsel
  and Corporate Secretary of
  Bioenvision, Inc. from December 2006
  through July 2007.  Prior to that, Mr. Luci
  served as the Chief Financial Officer, General Counsel and Corporate Secretary
  of Bioenvision, Inc. from July 2004 through December 2006, after
  serving as Director of Finance, General Counsel and Corporate Secretary since July 2002.
  Bioenvision's primary focus was developing compounds
  for the treatment of cancer.  In October 2007,
  Bioenvision was acquired by Genzyme Corporation.
  From September 1994 to July 2002,
  Mr. Luci served as a corporate attorney at Paul, Hastings, Janofsky &
  Walker LLP.  Prior to that, Mr. Luci
  served as a senior auditor at Ernst & Young LLP.  Mr. Luci is a certified public
  accountant. He holds a Bachelor of Science in Business Administration with a
  concentration in accounting from Bucknell University and a J.D. (cum laude)
  from Albany Law School of Union University. 
  Mr. Luci is also a member of the board of directors, and the audit
  committee chairman and compensation committee chairman of Access
  Pharmaceuticals, Inc., a biopharmaceutical company focused on development
  of novel therapies for cancer and other indications.
  On
  April 22, 2008, Mr. Luci entered into an amended and restated employment
  agreement of indefinite length with MacroChem, which contains the following
  material terms:
  ·
  Initial base
  salary of $250,000 per year.
  ·
  Eligibility to
  receive an annual bonus of up to 50% of his annual salary.
  3
  ·
  One-time bonus
  of $75,000 upon consummation of an equity financing of $5 million or more in
  gross proceeds.
  ·
  Mr. Luci is
  entitled to paid vacation and will participate in other broad-based employee
  benefit programs of MacroChem.
  ·
  Standard
  perpetual confidentiality provisions as well as customary non-competition and
  non-solicitation covenants for the term of Mr. Luci's employment and for 6
  months following any termination other than termination in connection with a
  change of control which would provide periods for such covenants of 18 and 12
  months respectively.
  ·
  On April 22,
  2008, Mr. Luci received an option to purchase 2,290,000 shares of
  MacroChem's common stock, with an exercise price equal to $0.30 per share, of
  which 572,500 of the shares subject to the option vested on April 22, 2008
  and thereafter 143,124 shares shall vest and become exercisable every 90 days
  until April 22, 2011.
  ·
  If Mr. Luci
  is terminated by MacroChem Without Cause (as defined in his employment
  agreement) following the consummation of the First Financing (as defined in his
  employment agreement), he would be entitled to (i) payment equal to 100%
  of his then current annual base salary and target bonus, (ii) continued
  employee benefits for a period of 12 months following the date of termination,
  and (iii) acceleration of outstanding equity awards based upon the
  following schedule:
  ·
  If during the
  first year of employment, all unvested options due to vest during the then
  current calendar quarter and the next calendar quarter would vest and become
  exercisable;
  ·
  If during the
  second year of employment, all unvested options due to vest during the then
  current calendar quarter and the next two calendar quarters would vest and
  become exercisable; and
  ·
  If during the
  third year of employment, all unvested options due to vest during the then
  current calendar quarter and the next three calendar quarters would vest and
  become exercisable.
  ·
  If Mr. Luci
  resigns for Good Reason (as defined in his employment agreement) following the
  consummation of the First Financing (as defined in his employment agreement), (i) he
  would be entitled to payment equal to 100% of his then current annual base salary
  and target bonus, (ii) all options previously vested would remain vested
  and exercisable and (iii) all unvested options would vest on the same
  schedule as if Mr. Luci had not resigned.
  ·
  Following, or in
  anticipation of, a Change of Control (as defined in his employment agreement)
  if Mr. Luci is terminated by MacroChem Without Cause (as defined in his
  employment agreement) or Mr. Luci terminates his employment for Good
  Reason (as defined in his employment agreement), (i) any outstanding stock
  option would become fully vested and exercisable to the extent such option were
  scheduled to vest within one year following such event and would remain
  exercisable for the lesser of one year and the maximum stated term of such
  option, (ii) any restricted shares would become fully vested and
  exercisable to the extent such option were scheduled to vest within one year
  following such event and (iii) he would be entitled to payment equal to
  200% of his then current annual base salary and target bonus.
  ·
  In the event that
  any benefit payable to Mr. Luci will be subject to any "golden parachute"
  excise tax imposed by section 4999 of the Internal Revenue Code, such payments
  shall be reduced to the largest amount that would result in no payment being
  subject to such excise tax.
  Appointment
  of New Chairman
  (b),
  (c)  and (e)  On April 22, 2008, Robert J. DeLuccia resigned as
  President and Chief Executive Officer and was appointed Chairman of
  MacroChem.  Mr. DeLuccia, age 62,
  has served as a Director of MacroChem since 2000.  Mr. DeLuccia will continue to serve as Chairman
  until his successor is chosen or he is removed from such office by a majority
  vote of the Board of Directors in accordance with MacroChem's by-laws.
  Mr. DeLuccia
  served as our President and Chief Executive Officer and Vice Chairman of the
  Board of Directors since June 2003. From 1998 to 1999, Mr. DeLuccia
  served as President and Chief Executive Officer of Immunomedics, Inc., a
  Nasdaq-listed biopharmaceutical company focused on the development and
  4
  commercialization
  of antibody diagnostic imaging and therapeutic products for cancer and
  infectious diseases.  Prior to
  Immunomedics, he was President of Sterling Winthrop Pharmaceuticals, the U.S.
  subsidiary of Sanofi (now Sanofi-Aventis).  Mr. DeLuccia began his career as a
  pharmaceutical sales representative for Pfizer and progressed to Vice President
  Marketing and Sales Operations for Pfizer's Roerig Division.  He is also a member of the board of directors
  of IBEX Technologies, a publicly traded (TSX Venture Exchange) pharmaceutical
  company that markets a series of proprietary enzymes (heparinases and
  chondroitinases) for research use, as well as Heparinase I., which is used in
  many leading homeostasis mentoring devices. 
  Mr. DeLuccia holds both a B.S. and an M.B.A. in marketing from Iona
  College.
  On
  April 22, 2008, Mr. DeLuccia entered into a letter of employment with
  MacroChem, which replaces any and all prior agreements between Mr. DeLuccia
  and MacroChem, other than those set forth in any option agreement between the
  two parties, and contains the following material terms:
  ·
  Initial base
  salary of $150,000 per year.
  ·
  A guaranteed
  bonus of $37,500 for the year ended December 31, 2008.
  ·
  Mr. DeLuccia
  is entitled to paid vacation and will participate in other broad-based employee
  benefit programs of MacroChem.
  ·
  Immediate
  vesting of 75,000 previously granted restricted shares of MacroChem common
  stock.
  ·
  Initial term of
  1 year.
  The respective employment
  agreements of Dr. Pachence and Mr. Luci and the letter of employment
  of Mr. DeLuccia will be filed as exhibits to MacroChem's Quarterly Report
  on Form 10-Q filed on or before May 15, 2008.
  5
  SIGNATURE
  Pursuant to the
  requirements of the Securities Exchange Act of 1934, the registrant has duly
  caused this report to be signed on its behalf by the undersigned hereunto duly
  authorized.
  MACROCHEM CORPORATION
  Dated: April 25, 2008
  By
  /s/ David P. Luci
  Name:
  David P. Luci
  Title:
  President and Chief
    Business Officer
  6