Exhibit
10.55


 








 


November
30, 2020


 


Wesley
S. Lobo


[OMITTED]


 


Dear
Wes,


 


It
gives me great pleasure to offer you the position of Chief Marketing Officer (“CMO”) at Nephros, Inc. ( “Nephros”).
As CMO, you will be responsible for developing and executing Nephros’s marketing and revenue growth strategies, which will
include product planning, product-market fit, go-to-market, building a strong marketing organization, and related activities.
You will also be an officer of the corporation, a member of Nephros’s top management team, and will report to me.


 


Your
initial annual compensation will be $275,000. This amount will be reviewed annually. In addition, you will be eligible to receive
an annual bonus targeted at $82,500 (30% of your base salary), based on the Company’s achievements of its goals. If the
bonus is payable, it may be paid in cash, restricted stock, or a combination of the two, at the company’s discretion and
in accordance with similar payments to other senior executives.


 


Subject
to approval of Nephros’s board of directors, you will be granted an option to purchase 114,178 shares of the company’s
stock (1% of current fully diluted shares) pursuant to the Company’s 2015 Equity Incentive Plan (the “2015 Plan”).
Your right to exercise the stock options will vest over four years, in accordance with standard company practices.


 


Your
expected start date is between January 18 and February 1, 2021.


 


The
Company currently provides its employees with a benefits package, including:


 


	 	●	Health
plan – Approximately 90% company paid
	 	●	Health
Reimbursement Plan – 100% company paid
	 	●	Dental
and Vision Plan – 100% company paid
	 	●	Life
Insurance – 100% company paid
	 	●	Flexible
Spending Account – Employee-paid
	 	●	Long-
and Short-Term Disability Plan – Employee-paid
	 	●	SIMPLE
    IRA Savings Plan – Employee-paid with up to 3% company match
	 	●	15
    PTO days annually. “Use it or lose it” policy, where lawful


 


 



    	 



    	 



    




 





 


Termination
Benefit: Following one year of employment, you will be entitled to three months of base salary and continued health benefits in
the event your employment is terminated by the Company without cause. Following two or more years of employment, you will be entitled
to six months base salary and health benefits in the event you are terminated without cause. Any such health insurance benefits
provided to you post termination will be on the terms and conditions then in effect for the Company’s employees.


 


Please
note, that as set forth in the Company’s Personnel Policies and Procedures, the employee benefits provided to you by the
Company are subject to change by the Company, in its sole discretion, at any time and from time to time.


 


Even
though some provisions of this letter refer to future dates, they are merely reference points for certain events that are scheduled
for as long as you are employed by the Company. Your employment with the Company is for an indefinite term and nothing in this
letter modifies your at-will employment relationship with the Company.


 


Your
employment will be subject to the Company’s Personnel Policies and Procedures, your entry into a Confidentiality, Invention
Assignment and Non-Competition Agreement in the form separately provided to you, and Nephros’ general satisfaction with
your work performance. Either you or Nephros may terminate your employment with the company for any reason with written notice.


 


This
offer is contingent upon satisfactory completion of reference and background checks and proof of no conflicting agreement with
your current employer.


 


If
you have any questions regarding the details of this offer, please feel free to contact me. We are very excited about having you
on our team. If you agree to the conditions that have been outlined, please sign, date, scan and return by e-mail at your earliest
convenience.


 


(signature
page follows)


 





 




    	 



    	 



    

  





 


Sincerely,


 


	/s/
    Andy Astor	 
	Andy
    Astor, Chief Executive Officer	 


 


Accepted:


 


	/s/
    Wesley S. Lobo	 
	Wesley
    S. Lobo