Document:

Executive Employment Agreement, dated as of February 28, 2007

 Exhibit 4.47 
 

 
 February 28, 2007 
 Personal
and Confidential 
 D. Scott Murray, BScPharm LLB MBA 
 106
Saddle Ridge Road 
 Chapel Hill, NC 27514 
 Re:    New Employment Agreement 
 Dear Scott: 
 This letter and the attached agreement are meant to reflect our recent discussions regarding the terms of your continued employment with Adherex, Inc.
(the “Company”), the wholly-owned subsidiary of Adherex Technologies Inc. (“AHX”), in Durham, North Carolina. 
 Effective immediately, you will serve as Senior Vice President, Corporate Development, General Counsel & Secretary of the Company and of AHX. In this position, you will continue to report directly to me. As Senior Vice
President, Corporate Development, your primary responsibilities will be expanded to include a more active role in the development and implementation of corporate strategy with respect to licensing, mergers, acquisitions, joint ventures and
partnerships, along with continued oversight of the legal and secretarial functions. Other specifics of your employment with the Company will be governed by the terms and conditions set out in the enclosed agreement. 
  

			
	Sincerely,	 	
		
	ADHEREX, INC.	 	
		
	 /s/ William P. Peters
	 	
	William P. Peters, MD PhD MBA	 	
	Chairman and Chief Executive Officer	 	

 4620 Creekstone Drive, Suite 200 • Research Triangle Park • Durham, North Carolina
• 27703 
 Tel: (919) 484-8484 • Fax: (919) 484-8001 • www.adherex.com 

 EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT AGREEMENT (the “Agreement”) dated as of this 28th day of February 2007 (the “Effective Date”), by and between
Adherex, Inc. (the “Company”), a wholly-owned subsidiary of Adherex Technologies Inc. (“AHX”), and D. Scott Murray, an individual residing at the address set forth on the signature page hereof (“Employee”). 

1. Duties. While employed by the Company, Employee will be employed in the position of Senior Vice President, Corporate Development,
General Counsel & Secretary of the Company and of AHX (“SVP”), and, as such, Employee agrees to faithfully perform the duties of the position of SVP and to perform such other duties of an executive, managerial or
administrative nature as shall be reasonably specified and designated from time to time by the Chief Executive Officer of the Company. Employee agrees to perform his duties and responsibilities at the Company diligently and to the best of his
ability, and further agrees to devote all of his business time and efforts to the performance of duties hereunder. Employee further agrees not to be employed by any entity or other third party while employed by the Company without first obtaining
the advance written consent of the Company. 
 2. Compensation. In consideration of his services to the Company,
Employee will be compensated as follows: 
 (a) Base Salary. Employee will be paid an annual base salary of Two
Hundred Thirty Thousand Dollars (USD $230,000.00), less any withholdings required by law or properly requested by Employee (the “Base Salary”). In the sole discretion of the Company, the annual base salary may be increased following
regularly scheduled performance reviews. The Company will pay Employee the Base Salary on its regularly scheduled paydays, in accordance with its regular payroll practices and procedures. 
 (b) Signing Bonus. Upon execution of this Agreement, Employee will be paid a one-time lump sum signing bonus of Twenty-Five
Thousand Dollars (USD $25,000.00) (the “Signing Bonus”). The Signing Bonus is subject to any withholdings required by law and/or properly requested by Employee. 
 (c) Discretionary Bonus. In addition to the Base Salary and Signing Bonus, the Company may award Employee an annual bonus (the
“Annual Bonus”) with acceptable performance as determined by the Company. The Company will have the sole discretion and authority to determine Employee’s eligibility for and the amount of the Annual Bonus and the award of such bonus
will be dependent upon performance objectives established by the Chief Executive Officer. The Annual Bonus is subject to any withholdings required by law and/or properly requested by Employee. 

 (d) Stock Option Grant. Subject to the approval of its Board of Directors (the
“Board”), AHX further agrees to grant Employee an option to purchase up to 200,000 shares of AHX’s common stock (the “Option”). The Option will be subject to the terms and conditions of the AHX Stock Option Plan (the
“Plan”) and a separate stock option agreement between the Company and Employee. Shares subject to the Option will have an exercise price equal to the fair market value on the date of grant, as determined by the Board. One-third of the
shares subject to the Option will immediately vest and be fully exercisable on the date of grant. Thereafter, the remaining unvested shares will vest annually in equal installments over the next two years on the anniversary of the Effective Date for
so long as Employee remains employed by the Company. As further detailed in the stock option agreement between the Company and Employee, if Employee’s employment terminates due to a change in control of the Company (as defined in the stock
option agreement), any then-remaining unvested shares shall immediately vest and be fully exercisable. 
 (e) Business
Expenses. The Company will reimburse Employee for all reasonable expenses incurred by Employee that are directly related to his employment or the business of the Company, including any professional fees, provided that Employee complies with the
Company’s policies and procedures for reimbursement or the advance of business expenses. 
 3. Benefits. While employed by
the Company, Employee will receive such other benefits as are provided from time to time to other similarly-situated employees of the Company. All such benefits are subject the terms and conditions of the plan documents by which such benefits are
provided, and are subject to change by the Company at any time, with or without advance notice. 
 4. Vacation and Paid
Holidays. You will be eligible for vacation in accordance with the Company’s vacation policy. You will be entitled to take twenty (20) days of paid vacation annually. In addition, Employee will be entitled to be paid for all
holidays recognized by Company policy. 
 5. Confidential Information and Restrictive Covenants. As a condition of
Employee’s continued employment with the Company, the Confidentiality and Intellectual Property Agreement dated January 27, 2003 between Employee and AHX (the “IP Agreement”), which includes Employee’s agreement to
refrain from disclosing the Company’s confidential information, will continue in full force and effect and is fully incorporated into this Agreement by reference, and a breach of the IP Agreement will be construed as a breach of this Agreement.

 6. Conflicts of Interest. You are subject to the Company’s conflict of interest requirements and policies, and
are responsible for recognizing and avoiding any and all circumstances that may give rise to an actual conflict of interest or give the appearance of a conflict of interest situation. 

 7. Termination of Employment. Employee’s employment with the Company is
at-will, meaning that either Employee or the Company can terminate the employment relationship at any time, for any or no reason, subject to the following provisions: 
 (a) Termination for Cause. Employee’s employment with the Company may be terminated for “Cause” at any time and without advance notice. If terminated for Cause, Employee will only be
entitled to receive payment of any wages and vacation pay earned or accrued to the date of termination. For purposes of this Agreement, “Cause” means Employee’s: (1) material breach of the terms of this Agreement or the IP
Agreement; (2) failure to diligently and properly perform his duties and responsibilities, or to comply with any policies and directives of the Company or the Board; (3) dishonest or illegal action (including, without limitation,
embezzlement) or any other action whether or not dishonest or illegal by Employee that is materially detrimental to the interest and well-being of the Company, including, without limitation, harm to its reputation; (4) failure to fully disclose
any material conflict of interest he may have with the Company in a transaction involving the Company which conflict is materially detrimental to the interest of the Company; or (5) your conviction of (i) any felony or (ii) any
misdemeanor or other crime of moral turpitude (other than a minor traffic offense). 
 (b) Termination upon Death or Disability.
Employee’s employment with the Company will terminate immediately in the event of his death or permanent disability. For purposes of this Agreement, permanent disability means that Employee is unable to perform the essential functions of his
position, with or without a reasonable accommodation, for more than sixty (60) consecutive days or ninety (90) days in any 12-month period. If terminated pursuant to this Section 7(b), Employee or his successor(s) will only be
entitled to receive payment of any wages and vacation pay earned or accrued to the date of termination. 
 (c) Resignation by Employee.
Employee may resign employment with the Company upon thirty (30) days’ advance written notice. If Employee fails to provide at least thirty (30) days advance notice of resignation, Employee will forfeit payment for any accrued, unused
vacation pay. The Company reserves the right in its sole discretion to pay Employee’s then-current Base Salary for all or a part of such notice period, in lieu of Employee’s continued employment during the notice period. If Employee
resigns his employment with the Company, Employee will be entitled to receive payment of any wages and vacation pay earned or accrued through the termination date. 
 (d) Termination by the Company Without Cause. Employee’s employment with the Company may be terminated at any time without Cause. The termination of Employee’s employment by the Company will be deemed
to be “Without Cause” if Employee is terminated for any reason other than Sections 7(a) through (c) of this Agreement. 

 8. Payments upon Termination. 
 (a) Accrued Compensation. If Employee’s employment with the Company is terminated by either party for any reason, Employee will receive
payment of any wages and vacation pay earned or accrued to the date of termination; provided, however, that if Employee resigns his employment with the Company, he must provide the notice specified in Section 7(c) hereof in order to
receive payment for any accrued, unused vacation time. 
 (b) Severance Benefits. In addition to any accrued compensation, if
Employee’s employment is terminated by the Company Without Cause, the Company will provide Employee with the following severance benefits, subject to the conditions described below. 
 (1) If Employee is terminated by the Company Without Cause, the Company will (A) pay Employee an amount equal to twelve
(12) months of Employee’s then-current Base Salary, and (B) continue paying Employee’s health insurance benefits (medical and dental) for the lesser of (i) a period of twelve (12) months after the termination of
Employee’s employment, or (ii) until the employee has accepted alternative employment (the “Benefits Period”). If the Company cannot allow Employee to continue his participation in its health insurance benefit plans during the
Benefits Period, the Company agrees to reimburse Employee for his COBRA premiums during the Benefits Period (at a level of coverage equivalent to that in effect immediately prior to the termination). 
 (2) In order to receive any portion of the severance benefits described in this Section 8(b), Employee will be required to first
execute a release of all claims against the Company, in form reasonably acceptable to the Company. In addition, to continue receiving the severance benefits, Employee must also comply with any post-termination obligations to the Company as a result
of the IP Agreement. 
 9. Notices. Any notice or other communication required or permitted hereunder must be made in
writing and shall be delivered personally, sent by facsimile transmission or sent by certified, registered or express mail, postage prepaid. Any such notice shall be deemed given when so delivered personally, sent by facsimile transmission or, if
mailed, five days after the date of deposit in the United States mail as follows: 
  

	
	 If to the Company, to:

	
	 Adherex, Inc.

	 4620 Creekstone Drive, Suite 200

	 Durham, North Carolina 27703

	 Attention: General Counsel

	
	 If to the Employee, at the address set forth on the signature page hereof.

 Any party may by notice given in accordance with this Section 9 to the other parties hereto designate another
address or person for receipt by such person of notices hereunder. 
 10. Entire Agreement. This Agreement contains the entire
agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements, written or oral, with respect thereto, including without limitation any agreements that may have been entered into between the Company and
Employee. 
 11. Waivers and Amendments. This Agreement may only be amended, superseded, canceled, renewed or extended,
and the terms hereof may be waived, with a writing signed by all parties hereto, or, in the case of a waiver, by the party waiving compliance. No delay on the part of any party in exercising any right, power or privilege hereunder shall operate as a
waiver thereof, nor shall any waiver on the part of any party of any such right, power or privilege nor any single or partial exercise of any such right, power or privilege, preclude any other or further exercise thereof or the exercise of any other
such right, power or privilege. 
 12. Governing Law; Venue. This Agreement will be governed by and construed in accordance
with the laws of the state of North Carolina, without regard to conflicts of law principles. 
 13. Assignment. This Agreement,
and Employee’s rights and obligations hereunder, may not be assigned by Employee; any purported assignment by Employee in violation hereof shall be null and void. In the event of any sale, transfer or other disposition of all or substantially
all of the Company’s assets or business, whether by merger, consolidation or otherwise, Employee agrees that the Company may assign this Agreement and its rights and obligations hereunder to a successor in interest. 
 14. Binding Effect. This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors, permitted
assigns, heirs, executors and legal representatives. 
 15. Counterparts. This Agreement may be executed by the parties hereto
in separate counterparts, each of which when so executed and delivered shall be an original but all such counterparts together shall constitute one and the same instrument. Each counterpart may consist of two copies hereof each signed by one of the
parties hereto. 
 [Signature page follows] 

 IN WITNESS WHEREOF, the parties hereto have executed this Employment Agreement as of the day and year
first above written. 
  

									
		 		 	ADHEREX, INC.	 	
					
		 		 	By:	 	 /s/ William P. Peters
	 	
		 		 		 	Dr. William P. Peters, MD PhD MBA	 	
		 		 		 	Chief Executive Officer	 	
				
		 		 	EMPLOYEE:	 	
					
	  
	 		 		 	 /s/ D. Scott Murray
	 	
	 Witness
	 		 	Employee:	 	D. Scott Murray	 	
		 		 		 	106 Saddle Ridge Road	 	
		 		 		 	Chapel Hill, NC 27514Amendment of Lease between 60 Hudson Owner LLC and FiberNet, dated 11-JAN-2007

 Exhibit 10.20 
 AMENDMENT OF LEASE 
 This agreement
(“Agreement”), made as of this 11th day of January, 2007 (but expressly deemed effective as of the
1st day of May, 2006), between 60 HUDSON OWNER LLC (successor to Westport Communications LLC and Hudson
Telegraph Associates, L.P., formerly known as Hudson Telegraph Associates), a Delaware limited liability company, having an address c/o Williams Real Estate Co. Inc., 380 Madison Avenue, New York, New York 10017-2513 (“Landlord”) and
FIBERNET EQUAL ACCESS, LLC, a New York limited liability company, having an address at 570 Lexington Avenue, New York, New York 10022 (“Tenant”). 
 W I T N E S S E T H: 
 WHEREAS, Landlord and Tenant are the present parties to an
agreement of lease dated as of April 1, 2001 (“Original Lease”), as thereafter amended on numerous occasions (collectively, “Existing Lease”), pursuant to which Landlord now leases to Tenant and Tenant now leases from
Landlord portions of the ground floor and basement (collectively, “Demised Premises”), as more particularly described in the Existing Lease, in Landlord’s building known as 60 Hudson Street, New York, New York; and 
 WHEREAS, Landlord and Tenant wish to amend the Existing Lease as set forth herein. 
 NOW, THEREFORE, in consideration of the foregoing and the mutual covenants hereinafter contained, Landlord and Tenant agree that the Existing
Lease is hereby further amended as follows: 
 1. All terms contained in this Agreement shall, for the purposes hereof, have the same meanings
ascribed to them in the Existing Lease unless otherwise defined herein. As used herein, the term “Lease” shall mean the Existing Lease, as amended by this Agreement and as the same may be hereafter amended. 
 2. (A) Pursuant to an amendment of the Original Lease, dated November 7, 2002 (“Condenser Water Amendment”), Tenant has installed water
cooled supplementary air conditioning equipment in the Demised Premises having an air conditioning capacity of ninety (90) tons (“Supplemental System”) and Landlord is furnishing the condenser water necessary to operate the
Supplemental System. Tenant is presently paying Landlord an annual Condenser Water Charge for the Supplemental System of $99,342.90 per annum, which Condenser Water Charge is subject to adjustment as provided in the Condenser Water Amendment.

 (B) As of May 1, 2006, Tenant installed additional water cooled supplementary air conditioning equipment having a further air
conditioning capacity of an additional ninety (90) tons (“Additional Supplemental System”), for which Landlord also is furnishing the necessary condenser water. Effective as of May 1, 2006, Tenant shall pay Landlord an additional
Condenser Water Charge for the Additional Supplemental System initially at the rate of $99,342.90 per annum. Such initial Condenser Water Charge shall be subject to adjustment and payment in accordance with Paragraph 2(B) of the Condenser Water
Amendment. 
 (C) The provisions of Paragraph 2(C) of the Condenser Water Amendment also shall be applicable to the Additional Supplemental
System. 

 3. Tenant covenants, represents and warrants that Tenant has had no dealings or communications with any
broker or agent in connection with the consummation of this Agreement other than Williams Real Estate Co. Inc. (the “Broker”) and Tenant covenants and agrees to indemnify Landlord from and against all costs, expenses (including reasonable
attorneys’ fees and disbursements) and liability for any commission or other compensation claimed by any broker or agent (other than the Broker) with respect to this Agreement. Landlord shall pay any commission owing to the Broker in connection
with this Agreement. The provisions of this Paragraph shall survive any termination of this Agreement. 
 4. This Agreement may not be
changed orally, but only by a writing signed by the party against whom enforcement thereof is sought. 
 5. The submission of this Agreement
to Tenant shall not constitute an offer by Landlord to execute and exchange this Agreement with Tenant and is made subject to Landlord’s acceptance, execution and delivery thereof. 
 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written. 
  

											
		 		 	60 HUDSON OWNER LLC
				
		 		 	By:	 	 HUDSON TELEGRAPH ASSOCIATES, L.P.,
 its managing member

					
		 		 		 	By:	 	 Sixty Hudson Management LLC,
 general
partner

						
		 		 		 		 	By:	 	  

		 		 		 		 	Name:	 	
		 		 		 		 	Manager	 	
			
		 		 	FIBERNET EQUAL ACCESS, LLC
				
		 		 	By:	 	  

		 		 	Name:	 	
		 		 	Title:	 	
	
	 By its execution below, the undersigned acknowledges its agreement to be bound by this Agreement and the Existing Lease jointly and severally with
Tenant.

			
		 		 	FIBERNET TELECOM GROUP, INC.
				
		 		 	By:	 	  

		 		 	Name:	 	
		 		 	Title:	 	

  

 -2-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}]]