Exhibit 10.2

 

AMENDMENT TO CONSULTING AGREEMENT

 

Effective March 11, 2003 (the “Effective Date”), Hollis-Eden Pharmaceuticals,
Inc., a Delaware corporation (the “Company”), William H. Tilley (“Tilley”) and
JacMar/Viking, L.L.C., a Delaware limited liability company (“Consultant”),
agree as follows:

 

RECITALS

 

WHEREAS, the Company, Tilley and Consultant are parties to that certain
Consulting Agreement made effective March 8, 1999, as amended on March 12, 2001
(the “Agreement”); and

 

WHEREAS, the parties desire to amend certain provisions of the Agreement.

 

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the parties agree to amend and hereby do amend
the Agreement as follows:

 

AMENDMENT

 

  1.   Each defined term used herein shall have the same meaning as set forth in
the Agreement.

 

  2.   Section 1.3 is amended to read in its entirety:

 

“1.3 Term. Unless sooner terminated as provided in Section 1.5 hereof, this
Agreement has become effective as of the date set forth above and shall continue
in force and effect until March 11, 2006.”

 

  3.   Subsection 1.5(b) is amended to read in its entirety:

 

“(b) Termination by Company or Consultant. In the event that, during the term
hereof, the Company or Consultant terminates this Agreement, for any reason or
for no reason, or Tilley or Consultant shall refuse to perform the services
required hereunder, then, in such event, this Agreement shall automatically be
terminated and Consultant shall have the right to receive any unpaid
compensation or reimbursements to the date of termination, but no other
compensation.”

 

  4.   All other provisions of the Agreement shall remain unchanged and in full
force and effect.

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IN WITNESS WHEREOF, the parties have signed this Amendment or caused an
authorized officer to sign this Amendment to be effective on the Effective Date.

 

HOLLIS-EDEN PHARMACEUTICALS, INC.

By:

  

/s/ Eric J. Loumeau

--------------------------------------------------------------------------------

Name:

  

Eric J. Loumeau

Title:

  

V.P., General Counsel

JACMAR/VIKING L.L.C.

By:

  

The JacMar Companies,

    

a California corporation

    

Its: Managing Member

    

By:

  

/s/ James A. Dal Pozzo

--------------------------------------------------------------------------------

    

Name:

  

James A. Dal Pozzo

    

Title:

  

President

    /s/ William H. Tilley

--------------------------------------------------------------------------------

William H. Tilley

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AMENDMENT TO WARRANT NO. W-99-5

TO PURCHASE 250,000 SHARES OF COMMON STOCK

OF HOLLIS-EDEN PHARMACEUTICALS, INC.

 

Effective March 11, 2003 (the “Effective Date”), Hollis-Eden Pharmaceuticals,
Inc., a Delaware corporation (the “Company”), and JacMar/Viking L.L.C., a
Delaware limited liability company (“Holder”), agree as follows:

 

RECITALS

 

WHEREAS, the Company and Holder are parties to that certain Warrant (No. W-99-5)
issued March 8, 1999, as amended on March 12, 2001 (the “Warrant”); and

 

WHEREAS, the parties desire to amend certain provisions of the Warrant.

 

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the parties agree to amend and hereby do amend
the Warrant as follows:

 

AMENDMENT

 

  1.   Each defined term used herein shall have the same meaning as set forth in
the Warrant.

 

  2.   The last line of the title of the Warrant is amended to read:

 

“(Void after March 11, 2006)”

 

  3.   The first paragraph of the Warrant is amended to read in its entirety:

 

“This certifies that JACMAR/VIKING, L.L.C., or its assigns (the “Holder”), for
value received, is entitled to purchase from Hollis-Eden Pharmaceuticals, Inc.,
a Delaware corporation (the “Company”), having a place of business at 4435
Eastgate Mall, Suite 400, San Diego, California 92121, a maximum of 250,000
fully paid and nonassessable shares of the Company’s Common Stock (“Common
Stock”) for cash at a price of $10.00 per share (the “Stock Purchase Price”) at
any time or from time to time up to and including 5:00 p.m. (Pacific time) on
March 11, 2006 (the “Expiration Date”), upon surrender to the Company at its
principal office (or at such other location as the Company may advise the Holder
in writing) of the Warrant properly endorsed with the Form of Subscription
attached hereto duly filled in and signed and, if applicable, upon payment in
cash or by check of the aggregate Stock Purchase Price for the number of shares
for which this Warrant is being exercised determined in accordance with the
provisions hereof. Notwithstanding the foregoing,

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the Stock Purchase Price and the number of shares of purchasable hereunder are
subject to adjustment or early expiration as provided in Sections 3 and 17 of
this Warrant.”

 

  4.   Section 17 of the Warrant is amended to read in its entirety:

 

“17. EARLY EXPIRATION OF WARRANT. Notwithstanding anything to the contrary
contained in this Warrant, this Warrant shall expire at 5:00 p.m. (Pacific time)
on the earlier of (i) March 11, 2006 or (ii) the date 30 days following
termination of that certain Consulting Agreement among the Company, Holder and
William H. Tilley, dated March 8, 1999 and amended March 12, 2001 and March 11,
2003, in accordance with the terms thereof. In the event of early expiration of
this Warrant pursuant to this Section 17, all references to “Expiration Date”
contained in this Warrant shall be deemed to refer to such earlier expiration
date.”

 

  5.   All other provisions of the Warrant shall remain unchanged and in full
force and effect.

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IN WITNESS WHEREOF, the parties have signed this Amendment or caused an
authorized officer to sign this Amendment to be effective on the Effective Date.

 

HOLLIS-EDEN PHARMACEUTICALS, INC.

By:

  

/s/ Eric J. Loumeau

--------------------------------------------------------------------------------

Name:

  

Eric J. Loumeau

Title:

  

V.P., General Counsel

JACMAR/VIKING L.L.C.

By:

  

The JacMar Companies,

    

a California corporation

    

Its: Managing Member

    

By:

  

/s/ James A. Dal Pozzo

--------------------------------------------------------------------------------

    

Name:

  

James A. Dal Pozzo

    

Title:

  

President