Exhibit 10.64


 





 


December
27, 2016


 


Mark
S. Berger, M.D.


140
Riverside Drive, Apt. 9K


New
York, NY 10024



Dear Dr. Berger,


 


On
behalf of Actinium Pharmaceuticals, Inc. (the “Company”), I am pleased to offer you the position of Chief Medical
Officer. Speaking for myself, as well as the other members of the Company’s Board of Directors (the “Board”),
we are all very impressed with your credentials and look forward to your future success in this position.


 


1.
Position. The terms of your new position with the Company are as set forth below:


 


(a)       You
shall serve as Chief Medical Officer.


 


You
shall report to the Executive Chairman, Chief Executive Officer or appropriate company officer, as designated by the Board, and
shall perform your duties for the Company at the Company’s offices in New York City, except for travel that may be necessary
or appropriate in connection with the performance of your duties hereunder. The offices of the Company are currently located in
New York City at 275 Madison Avenue, 7th Floor, New York, NY 10016.


 


(b)       You
agree to devote your best efforts and substantially all of your business time to advance the interests of the Company and to discharge
adequately your duties hereunder.


 


2.
Start Date. You shall accept the terms of this Offer no later than December 31, 2016. Subject to fulfillment of any conditions
imposed by this letter agreement, you will commence this new position with the Company no later than January 18, 2017 (“Start
Date”), subject to Board approval prior to the Start Date. The Company has the right to withdraw this Offer if you are
unable to fulfill the Start Date requirement.


 


3.
Proof of Right to Work. For purposes of federal immigration law, you will be required to provide to the Company documentary
evidence of your identity and eligibility for employment in the United States. Such documentation must be provided to us within
three (3) business days of your date of hire, or our employment relationship with you may be terminated.


 






    	 		 



     


    

 


4.
Compensation.


 


(a)       Base
Salary. You will be paid an annual base salary of Three Hundred Sixty Thousand dollars ($360,000), which will be paid in accordance
with the Company's regular payroll practices.


 


(b)       Performance
Bonus. You shall be entitled to participate in an executive bonus program, which shall be established by the Board pursuant to
which the Board may award bonuses of up to 30% to you, based upon the achievement of written individual and corporate objectives
such as the Board shall determine.


 


(c)       Stock
Option Grant. The Board has agreed to grant you an option grant to purchase 325,000 common shares of the Company (the “Grant”)
and is subject to approval by the Compensation Committee.


 


(i)
Stock Options. Such options will have an exercise price equal to the closing price of the Company’s common stock on your
first day of employment (the “Grant Date”).


 


(ii)
Vesting Schedule. Twenty-eight percent (28%) of the initial options or restricted stock granted shall vest twelve months after
the date of grant and two percent (2%) of the remainder shall vest each month thereafter until fully vested. Such additional options
or restricted stock will have an exercise price per share which is equal to fair market value as determined by the Board on the
date of the grant. Two percent (2%) of such additional options or stock shall vest each month thereafter until fully vested. The
term of all options granted under this Agreement will be for 10 years from the date of grant, subject to your continuing service
with the Company. The options or restricted stock will be incentive stock options or stock to the maximum extent allowed by the
tax code and will be subject to the terms of the Company’s Amended and Restated 2014 Stock Plan, as amended, and the Stock
Option Agreement between you and the Company.


 


5.
Benefits.


 


a.       Benefit plan – Health Insurance. The Company will provide you with the opportunity to participate in the standard
benefits plans currently available to other similarly situated employees. The Company reserves the right to cancel and/or change
the benefits plans it offers to its employees at any time, subject to applicable law.


 


b.       Vacation; Sick Leave. You will be entitled to 20 days paid vacation per year, pro-rated for the remainder of this calendar
year. Vacation may not be taken before it is accrued. You will be entitled to 5 days paid sick leave per year pro-rated.


 


c.       Other Benefits. The Company will provide you with standard business reimbursements (including mileage, supplies, long distance
calls), subject to Company policies and procedures and with appropriate receipts. In addition, you will receive any other statutory
benefits required by law.


 



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d.       Reimbursement of Expenses. You shall be reimbursed for all normal items of travel and entertainment and miscellaneous expenses
reasonably incurred by you on behalf of the Company provided such expenses are documented and submitted in accordance with the
reimbursement policies in effect from time to time.


 


6.
Confidential Information and Invention Assignment Agreement. Your acceptance of this offer and commencement of employment
with the Company is contingent upon the execution, and delivery to an officer of the Company, of the Company’s Confidential
Information and Invention Assignment Agreement, a copy of which is enclosed for your review and execution (the “Confidentiality
Agreement”), prior to or on your Start Date.


 


7.
At-Will Employment. Your employment with the Company will be on an “at will” basis, meaning that either you
or the Company may terminate your employment at any time for any reason or no reason, without further obligation or liability.


 


8.
Non-Competition. During the term and for a period of three (3) years thereafter, you shall not, either directly or indirectly,
engage (as principal, partner, employee, consultant, owner, independent contractor, advisor or otherwise, with or without compensation)
in any business that directly or indirectly is developing, or plans to develop, radioimmunotherapies for cancer or any therapy
related to bone marrow transplant (the “Competing Business”). Notwithstanding the foregoing, this does not prevent
you from being engaged or employed with a business that has a Competing Business as part of its business, so long as you are not
engaged or involved in any way in the Competing Business at such business or enterprise.


 


9.
Non-Solicitation. You agree that during the term of your employment with the Company, and for a period of 24 months following
the cessation of employment with the Company for any reason or no reason, you shall not directly or indirectly solicit, induce,
recruit or encourage any of the Company’s employees or consultants to terminate their relationship with the Company, or
attempt any of the foregoing, either for yourself or any other person or entity. For a period of 24 months following cessation
of employment with the Company for any reason or no reason, you shall not attempt to negatively influence any of the Company’s
clients or customers from purchasing Company products or services or to solicit or influence or attempt to influence any client,
customer or other person either directly or indirectly, to direct his or its purchase of products and/or services to any person,
firm, corporation, institution or other entity in competition with the business of the Company.


 


10.
Arbitration. Any dispute or claim arising out of or in connection with your employment with the Company (except with regard
to enforcement of the Confidentiality Agreement) will be finally settled by arbitration in New York, New York in accordance with
the Commercial Arbitration Rules of the American Arbitration Association by one arbitrator appointed in accordance with said rules.
Judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction thereof. The parties agree that
this Agreement evidences a transaction involving interstate commerce and that the operation, interpretation and enforcement of
this arbitration provision, the procedures to be used in conducting an arbitration pursuant to this arbitration provision, and
the confirmation of any award issued to either party by reason of such arbitration, is governed exclusively by the Federal Arbitration
Act, 9 U.S.C. § 21 et seq. Notwithstanding the foregoing, the parties may apply to any court of competent jurisdiction for
preliminary or interim equitable relief, or to compel arbitration in accordance with this paragraph, without breach of this arbitration
provision.


 






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11.
Miscellaneous. This Agreement, together with the Confidentiality Agreement, sets forth the terms of your employment with
the Company and supersedes any prior representations or agreements, whether written or oral. This Agreement may not be modified
or amended except by a written agreement, signed by the Company and by you. Whenever possible, each provision of this Agreement
will be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is
held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity,
illegality or unenforceability will be lessened or reduced to the extent possible or will be severed and will not affect any other
provision and this Agreement will be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable
provision had never been contained herein. This Agreement will be governed by New York law without reference to rules of conflicts
of law. All notices, requests, demands and other communications called for hereunder shall be in writing and shall be deemed given
(i) on the date of delivery if delivered personally, (ii) one (1) day after being sent by a well established commercial overnight
service, (iii) three (3) days after being mailed by registered or certified mail, return receipt requested, prepaid and addressed
to the parties or their successors at the following addresses, or at such other addresses as the parties may later designate in
writing, (iv) upon confirmation of facsimile transfer, if sent by facsimile or (v) upon confirmation of delivery when directed
to the electronic mail address set forth below, if sent by electronic mail:


 


	 	If
    to the Company:	275
    Madison Avenue, Suite 702
	 	 	New
    York, NY 10016
	 	 	 
	 	If
    to you:	Mark
    S. Berger, M.D.
	 	 	140
    Riverside Drive, Apt. 9K
	 	 	New
    York, NY 10024


 


We
are all delighted to be able to extend you this offer and look forward to working with you. To indicate your acceptance of the
Company’s offer, please sign and date this letter in the space provided below and return it to me, along with a signed and
dated copy of the Confidentiality Agreement.


 


(signature
page follows)





  





	Very
    truly yours,	 	ACCEPTED
    AND AGREED:
		 	 	 
	ACTINIUM
    PHARMACEUTICALS, INC.	 	MARK
    S. BERGER
	 	 	 	 
	By:	/s/
    Sandesh Seth	 	/s/
    Mark S. Berger
	Name:	

        

        Sandesh
        Seth
	 	Signature 
	Title: 	Executive
    Chairman	 	 
	 	 	 	December
    27, 2016
			 	Date


 


 


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