Compensatory Arrangements of Certain Officers.

In connection with Ronald A. Lowy's appointment as Chief Executive Officer of Helicos BioSciences Corporation ("Helicos" or the "Company"), the compensation committee of the Board of Directors of the Company ("Compensation Committee") approved an arrangement with Mr. Lowy pursuant to which Mr. Lowy will perform his duties on a part-time basis and receive a salary of $240,000 per year. In addition, subject to approval by the Compensation Committee, the Company will grant Mr. Lowy an option under the Company's 2007 Stock Incentive Plan to purchase shares of common stock, par value $0.001 per share, of the Company in an amount and pursuant to a vesting schedule to be agreed upon between the Company and Mr. Lowy. In addition, subject to approval by the Compensation Committee, the Company will provide Mr. Lowy with change of control benefits to be agreed upon between the Company and Mr. Lowy. Mr. Lowy will also receive reasonable and customary expenses related to his commuting travel to and from the Company's headquarters, with such expenses to be grossed up to include taxes.

On December 5, 2008, the Company entered into a Consultant Agreement with Stanley N. Lapidus (the "Consultant Agreement") substantially in the form attached hereto as Exhibit 10.1. Under the Consultant Agreement, Mr. Lapidus will provide business consulting services to the Company and will receive compensation of $7,000 per month. The above summary of the Consultant Agreement does not purport to be complete and is qualified in its entirety by reference to the Consultant Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated into this Item 5.02 by reference.

Item 9.01        Financial Statements and Exhibits

        (d)      Exhibits

Exhibit No.                                     Description

10.1             Consultant Agreement between the Company and Stanley N. Lapidus, dated as
                 of December 5, 2008.