Exhibit 10.1


 





April 30, 2015


 


Pablo Jimenez


166 South Street


Rockport, MA 01966


 


Delivered via Email


 


Dear Pablo:


 


Celsus Therapeutics PLC (the “Company”) has accepted
your resignation, ending your employment with Company. Although the Company has no obligation to provide you with any kind of separation
pay, it is prepared to assist you with your transition to new employment. This letter sets forth the terms of the Separation Agreement
(the “Agreement”) that the Company is offering to you to aid in your employment transition.


 


1. Separation. Your last day of work with the Company and
your employment termination date will be April 30, 2015 (the “Separation Date”).


 


2. Accrued Salary and Vacation. On the Separation Date
the Company will pay you all accrued wages, and all accrued and unused vacation, if any, earned through the Separation
Date, subject to all required payroll deductions and withholdings. You are entitled to these payments regardless of whether or
not you sign this Agreement.


 


3. Separation Pay. If you sign this Agreement, return it
by the deadline specified below, and comply with its terms, the Company will pay you, as separation pay, the equivalent of three
(3) months of your current base wages, less standard payroll deductions and withholdings. Such amount will be paid over
the course of three months from the Effective Date (as defined below.


 


4. Health Insurance. Your group health insurance will cease
on the last day of the month in which your employment ends. At that time, you will be eligible to continue your group health insurance
benefits at your own expense, subject to the terms and conditions of the benefit plan, federal COBRA law, and, as applicable, state
insurance laws. You will receive additional information regarding your right to elect continued coverage under COBRA in a separate
communication.  


 


5. Tax Matters. The Company will withhold required federal,
state, and local taxes from any and all payments contemplated by this Agreement. Other than the Company’s obligation and
right to withhold, you will be responsible for any and all taxes, interest, and penalties that may be imposed with respect to the
payments contemplated by this Agreement (including, but not limited to, those imposed under Internal Revenue Code Section 409A).


 


6. Other Compensation or Benefits. You acknowledge that,
except as expressly provided in this Agreement, you will not receive any additional compensation, benefits, or separation pay after
the Separation Date. Thus, for any employee benefits sponsored by the Company not specifically referenced in this Agreement, you
will be treated as a terminated employee effective on your Separation Date. This includes but is not limited to a 401(k) plan,
life insurance, accidental death and dismemberment insurance, and short and long-term disability insurance.


 




    	 



    	 



    

 


Pablo Jimenez


04/30/2015


Page 2


 


7. Expense Reimbursement. You agree that, within ten (10)
days of the Separation Date, you will submit your final documented expense reimbursement statement reflecting all business expenses
you incurred through the Separation Date, if any, for which you seek reimbursement. The Company will reimburse you for these expenses
pursuant to its regular business practice.


 


8. Return of Company Property. By the Separation Date, you
agree to return to the Company all hard copy and electronic documents (and all copies thereof) and other Company property that
you have had in your possession at any time, including, but not limited to, files, notes, drawings, records, business plans and
forecasts, financial information, specifications, computer-recorded information (including email), tangible property (laptop computer,
cell phone, PDA, etc.), credit cards, entry cards, identification badges and keys, and any materials of any kind that contain or
embody any proprietary or confidential information of the Company (and all reproductions thereof). If you discover after the Separation
Date that you have retained any Company proprietary or confidential information, you agree immediately upon discovery to contact
the Company and make arrangements for returning the information.


 


9. Post Employment Restrictions. You acknowledge your continuing
obligations under your Confidentiality, Intellectual Property, Non-Competition and Non-Solicitation Agreement (the “Proprietary
Agreement”) which prohibits disclosure of any confidential or proprietary information of the Company and solicitation of
Company employees and customers. A copy of your Proprietary Agreement is attached hereto as Exhibit A. 



 


10. Confidentiality. The existence of this Agreement and
its provisions will be held in strictest confidence by you and will not be publicized or disclosed in any manner whatsoever; provided,
however, that you may disclose this Agreement in confidence: (a) to your spouse or partner; (b) to your attorney, accountant,
auditor, tax preparer, and financial advisor, provided that such individuals first agree that they will treat such information
as strictly confidential and that you agree to be responsible for any disclosure by any such individual as if you had made the
disclosure; and (c) as necessary to enforce its terms or as otherwise required by law. You agree not to disclose the terms of this
Agreement to any current or former Company employee.


 


11. Nondisparagement. You agree not to disparage the Company,
and its officers, directors, employees, or agents, in any manner likely to be harmful to them or their business, business reputation
or personal reputation; provided, however, that statements which are made in good faith in response to any question, inquiry, or
request for information required by legal process shall not violate this paragraph. Nothing in this restriction is intended to
limit you from giving honest statements or before an administrative agency investigating an alleged violation of discrimination
laws.


 




    	 



    	 



    

  


Pablo Jimenez


04/30/2015


Page 3


 


12. Release of All Claims. Except as otherwise set forth
in this Agreement, you hereby release, acquit and forever discharge the Company, TriNet HR Corporation and their affiliates, officers,
agents, administrators, servants, employees, attorneys, successors, parent, subsidiaries, assigns, and affiliates (the “Released
Party” or “Released Parties”), of and from any and all claims, liabilities, demands, causes of action, costs,
expenses, attorneys’ fees, damages, indemnities, and obligations of every kind and nature, in law, equity, or otherwise,
known and unknown, suspected and unsuspected, disclosed and undisclosed, arising out of or in any way related to agreements, events,
acts, omissions, or conduct at any time prior to and including the date you sign this Agreement. This general release includes,
but is not limited to: (i) claims and demands arising out of or in any way connected with your employment with the Company, or
the termination of that employment; (ii) claims or demands related to your compensation or benefits
with the Company, including but not limited to, wages, salary, bonuses, commissions, vacation pay, fringe benefits, expense reimbursements,
incentive pay, severance pay, or any other form of compensation; (iii) claims pursuant to any federal, state or local law, statute,
or cause of action including, but not limited to, claims for discrimination, harassment, retaliation, attorneys’ fees or
other claim arising under the federal Civil Rights Act of 1964, as amended; the federal Americans with Disabilities Act of 1990,
as amended; the federal Age Discrimination in Employment Act of 1967, as amended (the “ADEA”); the federal Family Medical
Leave Act, as amended; the federal Worker Adjustment and Retraining Notification Act, as amended; the Employee Retirement Income
Security Act of 1974, as amended; Massachusetts Fair Employment Practices Law (Mass. Gen. Laws ch. 151B, §1 et seq.); Massachusetts
Sexual Harassment Law (Mass. Gen. Laws ch. 214, §1C); Massachusetts Equal Pay Law (Mass. Gen. Laws ch. 149, §105A –
C); Massachusetts Age Discrimination Law (Mass. Gen. Laws ch. 149, §24A et seq.); Massachusetts Family and Medical Leave Law
(Mass. Gen. Laws ch. 149, §52D); Massachusetts WARN Laws (Mass. Gen. Laws ch. 149, §182; Mass. Gen. Laws ch. 151A, §71A-G);
New York Human Rights Law (N.Y. Exec., §290 et seq.); New York Equal Pay Law (N.Y. Lab., §194); New York WARN Act (N.Y.
Lab., §860, et seq.) New York Military Spousal Leave Law (N.Y. Lab., §202-i) as amended; (iv) all tort claims, including
without limitation, claims for fraud, defamation, emotional distress, and discharge in violation of public policy; and (v) all
claims for breach of contract, wrongful termination, and breach of the implied covenant of good faith and fair dealing, including
claims arising out of an Employment Agreement, sales commission plan or incentive compensation plan applicable to your employment
with the Company. To the extent permitted by law, you also promise never directly or indirectly to bring or participate in an action
against any Released Party under California Business & Professions Code Section 17200 or any unfair competition law of any
jurisdiction.


 


Excluded from this Agreement are any claims which by law cannot
be waived in a private agreement between an employer and employee. Moreover, this Release does not prohibit you from filing a charge
with the Equal Employment Opportunity Commission (the “EEOC”) or equivalent state agency in your state or participating
in an EEOC or state agency investigation. You do agree to waive your right to monetary or other recovery should any claim be pursued
with the EEOC, state agency, or any other federal, state or local administrative agency your behalf arising out of or related to
your employment with and/or separation from the Company.


 




    	 



    	 



    

  


Pablo Jimenez


04/30/2015


Page 4


 


13. ADEA Waiver. You acknowledge that you are knowingly and
voluntarily waiving and releasing any rights you may have under the ADEA, as amended. You also acknowledge that the consideration
given for the waiver and release herein is in addition to anything of value to which you were already entitled. You further acknowledge
that you have been advised by this writing, as required by the ADEA, that: (a) your waiver and release do not apply to any rights
or claims that may arise after the execution date of this Agreement; (b) you have been advised hereby that you have the right to
consult with an attorney prior to executing this Agreement; (c) you have up to twenty-one (21) days from the date of this Agreement
to execute this Agreement (although you may choose to voluntarily execute this Agreement earlier); (d) you have seven (7) days
following the execution of this Agreement by the parties to revoke the Agreement; and (e) this Agreement will not be effective
until the date upon which the revocation period has expired, which will be the eighth day after this Agreement is executed by you,
provided that the Company has also executed this Agreement by that date (“Effective Date”); and (f) this Agreement
does not affect your ability to test the knowing and voluntary nature of this Agreement.


 


14. No Actions or Claims. You represent that you have not
filed any charges, complaints, grievances, arbitrations, lawsuits, or claims against the Company, with any local, state or federal
agency, union or court from the beginning of time to the date of execution of this Agreement and that you will not do so at any
time hereafter, based upon events occurring prior to the date of execution of this Agreement. In the event any agency, union, or
court ever assumes jurisdiction of any lawsuit, claim, charge, grievance, arbitration, or complaint, or purports to bring any legal
proceeding on your behalf, you will ask any such agency, union, or court to withdraw from and/or dismiss any such action, grievance,
or arbitration, with prejudice. 


 


15. Waiver. In granting the release herein, you understand
that this Agreement includes a release of all claims known or unknown. In giving this release, which includes claims which may
be unknown to you at present, you acknowledge that you have read and understand Section 1542 of the California Civil Code which
reads as follows: “A general release does not extend to claims which the creditor does not know or suspect to
exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected
his or her settlement with the debtor.” You hereby expressly waive and relinquish all rights and benefits under that
section and any law of any jurisdiction of similar effect with respect to the release of any unknown or unsuspected claims you
may have against the Released Parties.


 




    	 



    	 



    

  


Pablo Jimenez


04/30/2015


Page 5


 


16. Employment Rights. You hereby waive any and all rights
to employment or re- employment with the Company or any successor or affiliated organization (“Related Entity”). You
agree that the Company and the Related Entities have no obligation, contractual or otherwise, to employ or re-employ you, now or
in the future, either directly or indirectly, on a full-time, part-time, or temporary basis, including, but not limited to, utilizing
your services as a temporary employee, worker, or contractor through any temporary service providers, vendors, or agencies.


 


17. Acknowledgements and Representations. You acknowledge
and represent that you have not suffered any discrimination or harassment by any of the Released Parties on account of your race,
gender, national origin, religion, marital or registered domestic partner status, sexual orientation, age, disability, medical
condition, or any other characteristic protected by law. You acknowledge and represent that you have not been denied any leave,
benefits or rights to which you may have been entitled under the FMLA or any other federal or state law, and that you have not
suffered any job-related wrongs or injuries for which you might still be entitled to compensation or relief. You further acknowledge
and represent that, except as expressly provided in this Agreement, you have been paid all wages, bonuses, compensation, benefits
and other amounts that any of the Released Parties have ever owed to you, and you understand that you will not receive any additional
compensation, severance, or benefits after the Separation Date, with the exception of any vested right you may have under the terms
of a written ERISA-qualified benefit plan.


 


18. Medical Bills, Liens, and Other Potential Rights for Reimbursement



(a) Responsibility for Satisfaction of All Liens. You represent
and warrant that all bills, costs, orliens resulting from or arising out of any injuries and claims are your responsibility to
pay. You agree to assume responsibility for satisfaction of any and all demands for payment, claims or liens of any kinds, that
arise from or are related to payments made or services provided to you or on your behalf. You agree to assume responsibility for
all expenses, costs, or fees incurred by you related to your alleged injuries and claims including without limitation, all Medicare
conditional payments, subrogation claims, liens, or other rights to payment, relating to medical treatment or lost wages that have
been or may be asserted by any health care provider, insurer, governmental entity, employer, or other person or entity. Further,
you and your attorney (if any) will indemnify, defend and hold Released Parties harmless from any and all damages, claims, and
rights to payment, including any attorneys’ fees, brought by any person, entity, or governmental agency to recover any of
these amounts. If any governmental entity, or anyone acting on behalf of any governmental entity, seeks damages including multiple
damages from Released Parties relating to payment by such governmental entity, or anyone acting on behalf of such governmental
entity, relating to your alleged injuries and claims, you will defend and indemnify Released Parties and hold Released Parties
harmless from any and all such damages, claims, liens, Medicare conditional payments, and rights to payment, including any attorneys’
fees sought by such entities.




    	 



    	 



    




 


Pablo Jimenez


04/30/2015


Page 6


 


(b) Good Faith Resolution. This settlement is based upon
a good faith determination of you and the Company to resolve any potential claims. You and the Company have not shifted responsibility
of medical treatment to Medicare in contravention of 42 U.S.C. Section 1395y(b). You and the Company have made every effort to
adequately protect Medicare’s interest and incorporate such in the settlement terms.


(c) Representation that Employee is Not a Medicare Beneficiary.
You and your counsel (if any) warrant that you are not a Medicare beneficiary as of the date of this Agreement.


(d) Representation that No Medicare Conditional Payments Exist.
You and your counsel (if any) further represent and warrant that you are aware of no Medicare conditional payments that have
been made on your behalf.


 


19. Miscellaneous. This Agreement, including Exhibit A, constitutes
the complete, final, and exclusive embodiment of the entire agreement between you and the Company with regard to this subject matter.
It is entered into without reliance on any promise or representation, written or oral, other than those expressly contained herein,
and it supersedes any other such promises, warranties, or representations. This Agreement may not be modified or amended except
in a writing signed by both you and a duly authorized officer of the Company. This Agreement will bind the heirs, personal representatives,
successors, and assigns of both you and the Company, and inure to the benefit of both you and the Company, their heirs, successors,
and assigns. If any provision of this Agreement is determined to be invalid or unenforceable, in whole or in part, this determination
will not affect any other provision of this Agreement and the provision in question will be modified by the court so as to be rendered
enforceable. This Agreement will be deemed to have been entered into and will be construed and enforced in accordance with the
laws of the State of Massachusetts.


 


If this Agreement is acceptable to you, please sign below and return
the original to me no sooner than the Separation Date and no later than May 21, 2015.


 


I wish you good luck in your future endeavors.


 


Sincerely,


 


Celsus Therapeutics PLC


 


By: /s/ Gur Roshwalb


Gur Roshwalb 


CEO


 




    	 



    	 



    

  


Pablo Jimenez


04/30/2015


Page 7


 


Agreed:


 


/s/ Pablo Jimenez


Pablo Jimenez


 


Date: April 30, 2015


 




    	 



    	 



    

 


Pablo Jimenez


04/30/2015


Page 8 


 


EXHIBIT A


Confidentiality, Intellectual Property, Non-Competition
and Non-Solicitation Agreement