| 1. | Unless      otherwise amended as set forth herein, the Original Agreement shall remain      in full force and effect. |
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| 2. | Section      3, Term of      Employment, shall be amended and restated in its entirety as set      forth below: |
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| 3.  | Section      4, Compensation,      shall be amended and restated in its entirety as set forth      below: |
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| 4.  | Section      6 is amended as follows: Section 6.2 is deleted, and Sections 6.3, 6.4 and      6.7 are amended and restated in their entirety as set forth      below: |
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|   | (i) | one      month base salary at the rate in effect (as provided for by Section 4 of      this Agreement) at the time of such termination, provided Employee      provides consulting services to the Company for at least 20 hours per week      for the eight week period following termination to facilitate the      transition of duties from Employee to the new chief executive      officer; |
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|   | (ii) | any      annual bonus earned but not yet paid as of the date of      termination; |
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|   | (iii) | any      accrued vacation pay; |
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|   | (iv) | reimbursement      for expenses incurred but not yet paid prior to such termination of      employment; |
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|   | (v) | any      other compensation and benefits, including deferred compensation, as may      be provided in accordance with the terms and provisions of any applicable      plans and programs of Opexa; and |
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|   | (vi) | any      and all stock options granted to Employee prior to termination shall vest      and Employee shall have one year from the date Employee ceases to serve as      a Company director to exercise any such stock options or other derivative      securities granted pursuant to any then existing stock compensation      plan. |
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|   | (i) | A      sale, transfer, or other disposition by Opexa through a single transaction      or a series of transactions occurring within a 90-day period of securities      of Opexa representing Beneficial Ownership (as defined below) of fifty      (50%) percent or more of the combined voting power of Opexa then      outstanding securities to any “Unrelated Person” or “Unrelated Persons”      acting in concert with one another.  For purposes of this      definition, the term “Person” shall mean and include any individual,      partnership, joint venture, association, trust corporation, or other      entity [including a “group” as referred to in Section 13(d)(3) of the      Securities Exchange Act of 1934, as amended (“1934 Act”)].  For      purposes of this definition, the term “Unrelated Person” shall mean and      include any Person other than the Employee, Opexa, a wholly-owned      subsidiary of Opexa, an existing shareholder, or an employee benefit plan      of Opexa; provided however, a sale of Opexa’s securities in a capital      raising transaction shall not be a Change of  Control. |
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|   | (ii) | A      sale, transfer, or other disposition through a single transaction or a      series of transactions occurring within a 90-day period of all or      substantially all of the assets of Opexa to an Unrelated Person or      Unrelated Persons acting in concert with one  another. |
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|   | (iii) | A      change in the ownership of Opexa through a single transaction or a series      of transactions occurring within a 90-day period such that any Unrelated      Person or Unrelated Persons acting in concert with one another become the      “Beneficial Owner,” directly or indirectly, of securities of Opexa      representing at least fifty-one (51%) percent of the combined voting power      of Opexa then outstanding securities.  For purposes of this      Agreement, the term “Beneficial Owner” shall have the same meaning as      given to that term in Rule 13d-3 promulgated under the 1934 Act, provided      that any pledgee of voting securities is not deemed to be the Beneficial      Owner of the securities prior to its acquisition of voting rights with      respect to the securities. |
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|   | (iv) | Any      consolidation or merger of Opexa with or into an Unrelated Person, unless      (i) immediately after the consolidation or merger the holders of the      common stock of Opexa immediately prior to the consolidation or merger are      the beneficial owners of securities of the surviving corporation      representing at least fifty-one (51%) percent of the combined voting power      of the surviving corporation’s then outstanding securities or (ii)      Employee continues to serve as Chief Executive Officer after the      consolidation or merger. |
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| OPEXA      THERAPEUTICS, INC.:       |   | EMPLOYEE:                             |
|--------------------------------------|--------|---------------------------------------|
|                                 |   |                                  |
|                                 |   |                                  |
| By: /s/      LYNNE      HOHLFELD     |   | By:      /s/ DAVID B.      MCWILLIAMS |
| Name:  Lynne      Hohlfeld |   | David      B. McWilliams              |
| Title:      Chief Financial Officer  |   |                                  |

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