Form of Agreement



 EXHIBIT 10.25 
  
 AGREEMENT 
  
 THIS AGREEMENT (“Agreement”) is made and entered into as of this 1st day of September, 2004 (the “Effective Date”), by and among Duska
Therapeutics, Inc., a Nevada corporation located at Two Bala Plaza, Suite 300, Bala Cynwyd, Pennsylvania 19004 (“Duska”), Duska Scientific Co., a Delaware corporation located at Two Bala Plaza, Suite 300, Bala Cynwyd, Pennsylvania 19004
(“Duska Scientific”), and Sanford J. Hillsberg whose address is Suite 1600, 1801 Century Park East Boulevard, Los Angeles, California 90067 (“Hillsberg”). 
  
 WHEREAS, Hillsberg has been serving on a part-time basis as the corporate Secretary of Duska Scientific; and 
  
 WHEREAS, Duska, Duska Scientific and Hillsberg desire to enter into an
agreement pursuant to which Hillsberg will serve as the corporate Secretary of Duska and Duska Scientific, on a part-time basis, pursuant to the terms and provisions contained herein; 
  
 NOW, THEREFORE, in consideration of the mutual promises set forth herein, Duska, Duska Scientific and Hillsberg hereby agree
as follows: 
  
 1. Services as Corporate Secretary.
Hillsberg hereby agrees to serve as the corporate Secretary of Duska and Duska Scientific. Hillsberg will work on a part-time basis for Duska and Duska Scientific (i.e., not greater than a total of 10 hours per month for both companies) and will
report to the President or Chief Executive Officer of Duska and Duska Scientific, respectively. The services set forth in this Section 1 shall be rendered by Hillsberg in Los Angeles, California and at such times and, if required in particular
circumstances, through business trips to such other locations as reasonably requested by the Board of Directors of Duska or Duska Scientific, respectively. The duties of Hillsberg will be those customarily performed by a corporate Secretary of an
emerging bio-pharmaceutical public company. 
  
 2. Compensation
and Benefits. 
  
 2.1 Fees. In
consideration of the services to be rendered to Duska and Duska Scientific hereunder, Duska shall pay to Hillsberg $2,0833.33 per month, paid on the 15th day of each month this Agreement is in effect. The parties acknowledge and agree that Duska Scientific has retained Hillsberg to provide the services to Duska Scientific of the type described in
Section 1 hereof for the period from January 1, 2004 through August 31, 2004 under terms and conditions substantially the same as set forth in this Agreement for a fee equal to $2,0833.33 per month. 
  
 2.2 Expenses. Duska and Duska Scientific shall
reimburse Hillsberg for necessary and reasonable out-of-pocket business expenses incurred by Hillsberg in the performance of this Agreement in accordance with the reimbursement policies of Duska or 

  









 
Duska Scientific, respectively, in effect from time to time; provided, however, that Hillsberg shall not be authorized to incur on behalf of
Duska or Duska Scientific, respectively, any expenses in excess of $1,000 without the prior consent of Duska’s President or Duska Scientific’s President, respectively, 
  
 2.3 No Benefits. Hillsberg acknowledges and agrees that he will not be eligible for any Duska or
Duska Scientific employee benefits and, to the extent he otherwise would be eligible for any Duska or Duska Scientific employee benefits but for the express terms of this Agreement, he hereby expressly declines to participate in such Duska or Duska
Scientific employee benefits. However, Hillsberg will be eligible for so long as he serves on the Board of Directors of Duska or Duska Scientific to receive all of the benefits made available by the respective companies to their directors for
such service. 
  
 2.4 Withholding;
Indemnification. Hillsberg shall have full responsibility for applicable withholding taxes for all compensation paid to him under this Agreement, and for compliance with all applicable labor and employment requirements with respect to his
self-employment, sole proprietorship or other form of business organization. Hillsberg agrees to indemnify, defend and hold Duska and Duska Scientific harmless from any liability for, or assessment of, any claims or penalties with respect to such
withholding taxes, labor or employment requirements, including any liability for, or assessment of, withholding taxes imposed on Duska or Duska Scientific by the relevant taxing authorities with respect to any compensation paid to Hillsberg.

  
 3. Term and Termination. Hillsberg shall serve as a
consultant to Duska and Duska Scientific and shall render the services set forth in Section 1 of this Agreement for a period commencing on September 1, 2004 and terminating on the first annual meeting of the stockholders of Duska thereafter unless
earlier terminated as set forth in this Section 3. In the event the Board of Directors of Duska determine to re-elect Hillsberg to serve as the corporate Secretary of Duska or Duska Scientific, respectively, at the first annual meeting of the
stockholders of Duska after the Effective Date, then this Agreement shall be deemed to be extended until the next annual meeting thereafter of Duska’s shareholders. This Agreement and Hillsberg’s rights and obligations hereunder shall,
under any of the following circumstances, terminate in advance of the time specified in this Section 3, and Hillsberg shall have the right to receive only its fees that shall be accrued hereunder or under any other agreement between Duska or Duska
Scientific and Hillsberg through the effective date of such termination and shall have no right to receive any further compensation hereunder from and after the time of such termination: 
  
 3.1 Termination by Duska. In the event that Hillsberg shall become either physically or mentally
incapacitated so as to be incapable of performing his duties as required hereunder, and if such incapacity shall continue for a period of 45 consecutive days, Duska may, at its option, terminate this Agreement and Hillsberg’s duties hereunder
by written notice to Hillsberg at that time or at any time thereafter while such incapacity continues. Duska may terminate this Agreement for Cause (as hereinafter defined) at any time upon written notice to Hillsberg. “Cause” as used in
this Agreement means that (i) Hillsberg has materially breached any of the terms or conditions of this Agreement and has failed to correct such breach within 15 days following written notice from Duska or Duska 

  

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Scientific, respectively, of such breach, or (ii) Hillsberg has been charged with a felony or has committed or participated in any intentionally fraudulent
act that materially damages, or may materially damage, the business or reputation of Duska or Duska Scientific, respectively. 
  
 3.2 Termination by Hillsberg. Hillsberg may terminate this Agreement at any time upon 30 days prior written notice to Duska and
Duska Scientific.  
  
 4. Independent Contractor.
Hillsberg’s relationship with Duska and Duska Scientific will be that of an independent contractor and not that of an employee of Duska or Duska Scientific. 
  
 5. Stock Options. In consideration for Hillsberg’s agreeing to provide the services set forth in Section 1 of
this Agreement, all stock options to purchase shares of Duska’s common stock held by Hillsberg and his affiliates as of the date hereof shall be deemed exercisable at any time through their original expiration date notwithstanding the
termination of this Agreement or termination of Hillsberg’s otherwise providing services to Duska or Duska Scientific prior to such expiration date, unless such termination is made by Duska for Cause. 
  
 6. Indemnity. Hillsberg agrees to indemnify and hold Duska and Duska
Scientific, respectively, harmless from and against any and all claims, demands, causes of action, losses, damages, liabilities, costs, and expenses, including attorneys’ fees, arising from a breach of any of Hillsberg’s representations
and warranties herein or attributable to or resulting from his willful misconduct in fulfilling its duties pursuant to this Agreement. Hillsberg warrants and represents that he has full power and authority to enter into and perform this Agreement,
and that his performance of this Agreement shall not violate any other agreement to which he is a party. Duska and Duska Scientific agree, jointly and severally, to indemnify and hold Hillsberg harmless from and against any and all claims, demands,
causes of action, losses, damages, liability, costs and expenses, including attorneys’ fees arising out of Hillsberg’s fulfillment of his duties pursuant to this Agreement, other than those arising from Hillsberg’s breach of any of
his representations and warranties hereunder or his willful misconduct. 
  
 7. Proprietary Rights. All work performed and all materials developed or prepared for Duska or Duska Scientific by Hillsberg in rendering the services pursuant to this Agreement are the property of Duska or Duska Scientific,
respectively, and all title and interest therein shall vest in Duska or Duska Scientific, respectively, and shall be deemed to be works made for hire and made in the course of the services rendered hereunder. To the extent that title to any such
works may not, by operation of law, vest in Duska or Duska Scientific, respectively, or such works may not be considered works made for hire, all rights, title and interest therein are hereby irrevocably assigned to Duska or Duska Scientific,
respectively. All such materials shall belong exclusively to Duska or Duska Scientific, respectively, and Duska or Duska Scientific, respectively, shall have the right to obtain and to hold in its own name copyrights, trademarks, patents, other
registrations, or such other protection as may be appropriate to the subject matter, along with any extensions and renewals thereof. Hillsberg agrees to give Duska and Duska Scientific and any person 

  

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designated by Duska or Duska Scientific such reasonable assistance, at Duska’s or Duska Scientific’s expense, respectively, as is required to
perfect the rights defined in this Section 7. 
  
 8.
Confidential Information. 
  
 8.1
Confidentiality Obligations. “Confidential Information” means, collectively: (a) business or technical information of Duska or Duska Scientific or any third party who has a direct relationship with Duska or Duska Scientific,
including but not limited to information relating to Duska’s or Duska Scientific’s or any third party’s product plans, designs, costs, product prices and names, finances, marketing plans, business opportunities, personnel, research,
development or know-how; (b) any information designated by Duska or Duska Scientific or any third party who has a direct relationship with Duska or Duska Scientific as “confidential” or “proprietary” or which, under the
circumstances taken as a whole, would reasonably be deemed to be confidential; and (c) the terms and conditions of this Agreement. Hillsberg agrees that he will not disclose to any third party or use any Confidential Information disclosed to him by
Duska or Duska Scientific except as expressly permitted in this Agreement; and that he will take all reasonable measures to maintain the confidentiality of all Confidential Information of Duska or Duska Scientific in his possession or control, which
will in no event be less than the measures he uses to maintain the confidentiality of his own information of similar importance. Hillsberg, however, shall have no broader obligation to Duska or Duska Scientific pursuant to this Section 8.1 than the
obligations generally imposed upon an officer or director of Duska and Duska Scientific. 
  
 8.2 Exclusions. “Confidential Information” will not include information that is: (i) already lawfully known by the
receiving party prior to this Agreement without restriction, (ii) in the public domain due to no fault of the receiving party, (iii) rightfully obtained by the receiving party without similar restriction from such party, (iv) independently developed
by the receiving party without reference to the other party’s confidential information, or (v) provided by the disclosing party to another party without similar restriction. 
  
 9. Corporate Opportunity. Duska and Duska Scientific each hereby acknowledges that Hillsberg engages in a wide
variety of investment, financing, corporate consulting and medical research activities and that his relationship with Duska and Duska Scientific as set forth in this Agreement is not to be deemed exclusive. Duska and Duska Scientific each hereby
agrees that Hillsberg may provide consulting or other services to, or become employed by, other persons or entities engaged in investment, financing, corporate consulting and/or medical research activities, and any such activities shall not be
deemed to constitute a usurpation of a corporate opportunity of Duska or Duska Scientific or a breach of Hillsberg ‘s obligations hereunder; provided, however, that such activities do not relate directly to products or potential
products based on purinergic receptors, adenosine or adenosine analogues/derivatives or adenosine 5’-triphosphate (“ATP”) or ATP analogues/derivatives. 
  

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 10. General Terms. 
  
 10.1 Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the
heirs, administrators, executors, and successors of each of the parties hereto. The services to be rendered under this Agreement are personal to and may not be delegated by Hillsberg. 
  
 10.2 Notices. Any notices or communications under this Agreement shall be in writing and shall be
hand-delivered or sent by certified mail (return receipt requested), or facsimile, or overnight couriered to the party receiving such communication at the address specified below: 
  

			
	If to Duska or Duska Scientific:	  	 Duska Therapeutics, Inc.
 Two Bala Plaza, Suite
300
 Bala Cynwyd, PA 19004
 Attn: Dr. Amir Pelleg,
President
 Facsimile: (610) 660-0966

		
	If to Hillsberg:	  	 Sanford J. Hillsberg
 Suite 1600
 1801 Century Park East Boulevard
 Los Angeles, California 90067
 Facsimile: (310) 573-9082


  
 or such other address or addressee as
any party may in the future specify to the other parties. 
  
 10.3 Pennsylvania Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Pennsylvania, excluding its conflicts of laws provisions. 
  
 10.4 Dispute Resolution. Any dispute arising out of
or relating to this Agreement shall be decided by binding arbitration by the American Arbitration Association and shall be held in Philadelphia, Pennsylvania. The ruling of the arbitrator shall be final and may be enforced by any party to such
arbitration in any court of competent jurisdiction located in Philadelphia, Pennsylvania. 
  
 10.5 Amendment and Waiver. No modification, amendment, supplement to or waiver of the provisions of this Agreement shall be binding
upon the parties hereto unless made in writing and duly signed by all parties to this Agreement. A failure of any party to exercise any right provided for herein shall not be deemed to be a waiver of any right hereunder. 
  
 10.6 Entire Agreement. This Agreement attached hereto
set forth the entire understanding of the parties as to the subject matter therein and supersedes all oral negotiations and prior writings with respect to the subject matter hereof. 
  

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 10.7 Severability. In the event any one or more of the provisions of this
Agreement is invalid or otherwise unenforceable, the enforceability of remaining provisions shall be unimpaired. 
  
 10.8 Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which
together will constitute one and the same instrument. 
  
 10.9 Survival. The following Sections shall survive the termination of this Agreement: 7 (Indemnity), 8 (Proprietary Rights), 9 (Confidentiality) and 10 (Corporate Opportunities). 
  
 [Signature Page Follows] 
  

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 IN WITNESS WHEREOF, the parties hereto, each acting under due and proper authority, have executed this
Agreement as of the Effective Date. 
  

									
	SANFORD J. HILLSBERG	 	 	 	DUSKA THERAPEUTICS, INC.
				
	 	 	 	 	 By:
	 	 
				
	 Sanford J. Hillsberg, Esq.
	 	 	 	 Name:
	 	Dr. Amir Pelleg
				
	 	 	 	 	 Title:
	 	President
				
	 	 	 	 	 Date:
	 	 
				
	 	 	 	 	 By:
	 	 
				
	 	 	 	 	 Name:
	 	Dr. Rudolph Nisi
				
	 	 	 	 	 Title:
	 	Chairman of the Compensation Committee and Vice Chairman of the Board
				
	 	 	 	 	 Date:
	 	 
			
	 	 	 	 	DUSKA SCIENTIFIC CO.
				
	 	 	 	 	 By:
	 	 
				
	 	 	 	 	 Name:
	 	Dr. Amir Pelleg
				
	 	 	 	 	 Title:
	 	President
				
	 	 	 	 	 Date:
	 	 

  

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