EMPLOYMENT AGREEMENT





         THIS EMPLOYMENT AGREEMENT (the "Agreement"), made as of the 1/st/ day

of August, 2002, is entered into by and between Curis, Inc., a Delaware

corporation (the "Company"), and Christopher U. Missling (the "Employee").



         The Company desires to employ the Employee, and the Employee desires to

be employed by the Company. In consideration of the mutual covenants and

promises contained herein, and other good and valuable consideration, the

receipt and sufficiency of which are hereby acknowledged, the parties hereto

agree as follows:



         1.    Term of Employment. The Company hereby agrees to employ the

               Employee, and the Employee hereby accepts employment with the

               Company, upon the terms set forth in this Agreement, for the

               period commencing on August 1, 2002 (the "Commencement Date") and

               ending on July 31, 2006 (such period, as it may be extended, the

               "Employment Period"), unless sooner terminated in accordance with

               the provisions of Section 4.



         2.    Position.



               (ii)    The Employee shall serve as Senior Vice President,

                       Finance and Strategic Planning and Chief Financial

                       Officer of the Company. The Employee shall have duties

                       and authority consistent with his position as Senior Vice

                       President, Finance and Strategic Planning and Chief

                       Financial Officer and as may be assigned from time to

                       time by the President and Chief Executive Officer (the

                       "President") and the Board of Directors of the Company

                       (the "Board").





                       The Employee shall report to, and be subject to the

                       supervision of, the President and the Board. The Employee

                       agrees to devote his



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                       entire business time to the business and interests of the

                       Company during the Employment Period.



                (iii)  The Employee agrees to abide by the rules, regulations,

                       instructions, personnel practices and policies of the

                       Company and any changes therein which may be adopted from

                       time to time by the Company.



            3.  Compensation and Benefits.



                3.1    Salary. The Company shall pay the Employee, in periodic

                       installments in accordance with the Company's customary

                       payroll practices, a base salary of $225,000 per annum.

                       Such salary shall be subject to annual review by the

                       President and the Board.



                3.2    Bonus. The Employee's annual bonus shall be determined by

                       the President and the Board and shall be based on the

                       achievement of specific objectives established by the

                       President and the Board. Such bonus shall be paid in the

                       form of cash or additional shares of common stock of the

                       Company (or options therefore), at the President's and

                       Board's discretion.



                3.3    Fringe Benefits. The Employee shall be entitled to

                       participate in all medical and other benefit programs

                       that the Company establishes and makes available to its

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