kl03017_ex10-2.htm


    
      

    


    EXHIBIT
10.2

     

    March 11,
2009

     

    


     

    Ayelet
Dugary

    60 Park
Street

    Tenafly,
NJ 07670

    


    


    Dear Mrs.
Dugary:

    


    This letter sets forth proposals for
the amendment of your employment agreement with SIGA Technologies, Inc., dated
as of January 22, 2007 (the “Original Employment Agreement”).

    


    
      	
               
      

            	
              1.

            	
              We
      hereby propose to amend the Original Employment Agreement by adding the
      following sentence at the end of Section
1:

            


    

    


    
      	
               
      

            	
              “In
      the event that the Company provides notice of its desire not to renew this
      Agreement in accordance with the preceding sentence, Executive shall be
      entitled to the continued payment of the Base Salary (as determined
      pursuant to Section 3(a)) for one year (such sums to be paid at the times
      and in the amounts such Base Salary would have been paid had Executive’s
      employment continued).”

            


    

    


    
      	
               
      

            	
              2.

            	
              We
      hereby propose to amend the Original Employment Agreement by replacing
      Section 2(a) with the following:

            


    

    


    
      	
               
      

            	
              “Employment by the
      Company.  Executive agrees to be employed by the Company
      during the Term upon the terms and subject to the conditions set forth in
      this Agreement.  Executive shall serve Acting Chief Financial
      Officer of the Company and shall report to the Board of
      Directors, the Chief Executive Officer or any other executive officer of
      the Company in a position senior to
her.”

            


    

    


    
      	
               
      

            	
              3.

            	
              We
      hereby propose to amend the Original Employment Agreement by replacing the
      last sentence of Section 2(b) with the
  following:

            


    

    


    
      	
               
      

            	
              “In
      her capacity as the Acting Chief Financial Officer of the Company,
      Executive shall have such duties and responsibilities as she may be
      assigned by the Board of Directors, Chief Executive Office or other
      executive officer of the Company in a position senior to her not
      inconsistent with her position as Acting Chief Financial Officer of the
      Company.”

            


    

    


    
      	
               
      

            	
              4.

            	
              We
      hereby propose to amend the Original Employment Agreement by replacing the
      first sentence of Section 3(a) with the
  following:

            


    

     

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
 

    
      	
               
      

            	
              “Base
      Salary.  The Company agrees to pay to Executive a base
      salary (“Base Salary”) at the annual rate of $225,000, subject to any cost
      of living adjustments as may be approved by the Board of Directors of the
      Company.”

            


    

    


    
      	
               
      

            	
              5.

            	
              We
      hereby propose to amend the Original Employment Agreement by adding the
      following sentence at the end of Section
3(a):

            


    

    


    
      	
               
      

            	
              “The
      Base Salary set forth in this Section 3(a) shall be effective as of March
      1, 2009.”

            


    

    


    
      	
               
      

            	
              6.

            	
              We
      hereby propose to amend the Original Employment Agreement by replacing the
      first sentence of Section 3(b) with the
  following:

            


    

    


    
      	
               
      

            	
              “Annual
      Bonus.   The Company will pay Executive an annual
      cash bonus of $50,000.”

            


    

    


    


    If you
agree to the foregoing, please sign where indicated below and return the signed
copy to me.  Otherwise, the agreement will continue in full force and
effect, without amendment.

    


    


                                                            Sincerely,

    


                                                            SIGA TECHNOLOGIES,
INC.

    


    


                                                            /s/ Eric
Rose                           


                                                            Name: Eric
Rose

                                                            Title:  
Chief Executive Officer

    


     

    AGREED
AND ACCEPTED

    


    


    


    /s/ Ayelet
Dugary                        

    Ayelet
Dugary

    


    Date:   March 11,
2009