Document:

Exhibit 4.13

 

		
        Synthetic Biologics, Inc.

        617 Detroit Street, Suite 100

        Ann Arbor, MI 48104

 

SYNTHETIC BIOLOGICS, INC.

WARRANT
TO PURCHASE COMMON STOCK

 

Warrant No.: CSW85

Number of Shares of Common Stock: 250,000

Date of Issuance: September 26, 2012 ("Issuance
Date", the date that NYSE MKT LLC approval was received)

THIS WARRANT AND
THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), OR ANY STATE SECURITIES LAW, AND MAY NOT BE OFFERED FOR SALE, SOLD OR TRANSFERRED UNLESS A REGISTRATION
STATEMENT UNDER SUCH ACT AND APPLICABLE STATE SECURITIES LAWS SHALL BE EFFECTIVE WITH RESPECT THERETO, OR AN EXEMPTION FROM REGISTRATION
UNDER THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS IS AVAILABLE IN CONNECTION WITH SUCH OFFER, SALE OR TRANSFER AND
THE HOLDER DELIVERS TO THE ISSUER AN OPINION OF COUNSEL IN A FORM REASONABLY SATISFACTORY TO THE ISSUER THAT REGISTRATION IS NOT
REQUIRED UNDER THE SECURITIES ACT OR SUCH OFFER, SALE OR TRANSFER IS MADE PURSUANT TO RULE 144 UNDER THE SECURITIES ACT.
SUBJECT TO COMPLIANCE WITH THE REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS, THIS WARRANT AND
THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT MAY NOT BE PLEDGED OR HYPOTHECATED IN CONNECTION WITH A BONA FIDE MARGIN
LOAN OR EXTENSION OF CREDIT SECURED BY THIS WARRANT OR ANY OF THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT WITHOUT REQUIRING
THE CONSENT OF THE ISSUER OR THE DELIVERY OF ANY SUCH OPINION.

 

THIS CERTIFIES that
in consideration for services to be provided, Redington, Inc. or any subsequent holder hereof (the “Holder”),
has the right to purchase from Synthetic Biologics, Inc., a Nevada corporation (the “Company”), up to
Two Hundred Fifty Thousand (250,000) fully paid and nonassessable
shares of the Company’s common stock, par value $.001 per share (the “Common Stock”), subject to
adjustment as provided herein, at a price per share equal to the Exercise Price (as defined below). The Holder’s right to
exercise this Warrant with respect to all underlying shares of common stock of the Company shall terminate on the second anniversary
of the issue date of this Warrant (the “Expiration Date”) and such exercise right shall commence with
respect to the following number of shares of common stock issuable hereunder (the “Warrant Shares”) upon achievement
of the following milestones:

 

		(a)	Immediately upon the issue date of this Warrant, 50,000 Warrant Shares shall be exercisable;

 

    	 

    	 	

    
 

		(b)	On the date that the average trading price of the Company’s common stock on the NYSE MKT
LLC or any other exchange on which its shares are traded is at least $4.00 for a period of ten (10) trading days of any thirty
(30) consecutive days during the one year period commencing February 20, 2012 and terminating February 19, 2013 (the “Goal
Period”), 50,000 Warrant Shares shall be exercisable;

 

		(c)	On the date that the average trading price of the Company’s common stock on the NYSE MKT
LLC or any other exchange on which its shares are traded is at least $7.00 for ten (10) trading days of any thirty (30) consecutive
days during the Goal Period, 75,000 Warrant Shares shall be exercisable; and

 

		(d)	On the date that the average trading price of the Company’s common stock on the NYSE MKT
LLC or any other exchange on which its shares are traded is at least $10.00 for ten (10) trading days of any thirty (30) consecutive
days during the Goal Period, 75,000 Warrant Shares shall be exercisable.

 

		1.	Exercise.

 

(a)          Right
to Exercise; Exercise Price. The Holder shall have the right to exercise this Warrant at the time set forth above as to the
number of Warrant Shares set forth above. The “Exercise Price” for each Warrant Share purchased by the
Holder upon the exercise of this Warrant shall be equal to $2.20, subject to adjustment for the events specified in Section
5 below. The Holder may pay the Exercise Price in either of the following forms or, at the election of the Holder, a combination
thereof:

 

(i)          through
a cash exercise (a “Cash Exercise”) by delivering immediately available funds, or

 

(ii)          through
a cashless exercise (a “Cashless Exercise”). The Holder may effect a Cashless Exercise by surrendering
this Warrant to the Company and noting on the Exercise Notice that the Holder wishes to effect a Cashless Exercise, upon which
the Company shall issue to the Holder the number of Warrant Shares determined as follows:

 

X = Y x (A-B)/A

 

		where:	X = the number of Warrant Shares to be issued to the Holder;

 

			Y = the number of Warrant Shares with respect to which this Warrant is being exercised;

 

			A = the Trading Price as of the Exercise Date; and

 

			B = the Exercise Price.

 

    	-2-

    	 

    
 

For purposes of Rule 144, it is intended
and acknowledged that the Warrant Shares issued in a Cashless Exercise transaction shall be deemed to have been acquired by the
Holder, and the holding period for the Warrant Shares required by Rule 144 shall be deemed to have been commenced, on the Issue
Date. For purposes hereof, (A) “Trading Price” shall mean the average daily VWAP for the Common Stock
for the five trading days immediately preceding the Exercise Date and (B) “VWAP” on a trading day means
the volume weighted average price of the Common Stock for such trading day on the principal market on which the Common Stock then
trades as reported by Bloomberg Financial Markets or, if Bloomberg Financial Markets is not then reporting such prices, by a comparable
reporting service of national reputation selected by the Company and reasonably satisfactory to the Holder. If VWAP cannot be calculated
for the Common Stock on such trading day on any of the foregoing bases, then the Company shall submit such calculation to an independent
investment banking firm of national reputation, and shall cause such investment banking firm to perform such determination and
notify the Company of the results of determination no later than two (2) business days from the time such calculation was submitted
to it by the Company. All such determinations shall be appropriately adjusted for any stock dividend, stock split or other similar
transaction during such period.

 

(b)          Exercise
Notice. In order to exercise this Warrant, the Holder shall (i) send by facsimile transmission, at any time prior to 5:00 p.m.,
New York time, on the business day on which the Holder wishes to effect such exercise (the “Exercise Date”),
to the Company an executed copy of the notice of exercise in the form attached hereto as Exhibit A (the “Exercise
Notice”), (ii) deliver the original Warrant and (iii) in the case of a Cash Exercise, pay the Exercise Price to the
Company by wire transfer in immediately available funds. The Exercise Notice shall also state the name or names (with address)
in which the shares of Common Stock that are issuable on such exercise shall be issued. If shares are to be issued in the name
of a person other than the Holder, the Holder will pay all transfer taxes payable with respect thereto.

 

(c)          Holder of Record. The
Holder shall, for all purposes, be deemed to have become the holder of record of the Warrant Shares specified in an Exercise Notice
on the Exercise Date specified therein, irrespective of the date of delivery of such Warrant Shares, subject to payment of the
Exercise Price. Except as specifically provided herein, nothing in this Warrant shall be construed as conferring upon the Holder
hereof any rights as a shareholder of the Company, including, without limitation, the right to vote, the right to receive dividends
or other distributions made to shareholders of the Company, and the right to exercise preemptive rights, prior to the Exercise
Date.

 

(d)          Cancellation
of Warrant. This Warrant shall be canceled upon its exercise and, if this Warrant is exercised in part, the Company shall,
at the time that it delivers Warrant Shares to the Holder pursuant to such exercise as provided herein, issue a new warrant, and
deliver to the Holder a certificate representing such new warrant, with terms identical in all respects to this Warrant (except
that such new warrant shall be exercisable into the number of shares of Common Stock with respect to which this Warrant shall remain
unexercised); provided, however, that the Holder shall be entitled to exercise all or any portion of such new warrant
at any time following the time at which this Warrant is exercised, regardless of whether the Company has actually issued such new
warrant or delivered to the Holder a certificate therefor.

 

    	-3-

    	 

    
 

2.          Delivery of Warrant Shares
Upon Exercise. Upon receipt of an Exercise Notice pursuant to Section 1, the Company shall, no later than the
close of business on the later to occur of (i) the fifth (5th) business day following the Exercise Date set forth in
such Exercise Notice and (ii) the date on which the Company has received payment of the Exercise Price and the taxes specified
in Section 1(b), if any, are paid in full (a “Delivery Date”), issue and deliver or cause
to be delivered to the Holder the number of Warrant Shares as shall be determined as provided herein. The Company shall effect
delivery of Warrant Shares to the Holder by, as long as the Transfer Agent participates in the Depository Trust Company (“DTC”)
Fast Automated Securities Transfer program (“FAST”), crediting the account of the Holder or its nominee
at DTC (as specified in the applicable Exercise Notice) with the number of Warrant Shares required to be delivered, no later than
the close of business on such Delivery Date. In the event that the Transfer Agent is not a participant in FAST, or if the Warrant
Shares are not otherwise eligible for delivery through FAST, or if the Holder so specifies in an Exercise Notice or otherwise in
writing on or before the Exercise Date, the Company shall effect delivery of Warrant Shares by delivering to the Holder or its
nominee physical certificates representing such Warrant Shares, no later than the close of business on such Delivery Date.

 

3.           Adjustments to Exercise Price;
Distributions; Repurchase Right.

 

(a)          Subdivision
or Combination of Common Stock. If the Company, at any time after the Issue Date, subdivides (by any stock split, stock dividend,
recapitalization, reorganization, reclassification or otherwise) its shares of Common Stock into a greater number of shares, then
after the date of record for effecting such subdivision, the Exercise Price in effect immediately prior to such subdivision will
be proportionately reduced. If the Company, at any time after the Issue Date, combines (by reverse stock split, recapitalization,
reorganization, reclassification or otherwise) its shares of Common Stock into a smaller number of shares, then, after the date
of record for effecting such combination, the Exercise Price in effect immediately prior to such combination will be proportionally
increased. Any adjustment made pursuant to this Section 4(a) that results in a decrease or increase in the Exercise
Price shall also effect a proportional increase or decrease, as the case may be, in the number of shares of Common Stock into which
this Warrant is exercisable.

 

    	-4-

    	 

    
 

(b)          Distributions.
If the Company shall declare or make any distribution of its assets (or rights to acquire its assets) to holders of Common Stock
as a partial liquidating dividend or otherwise (including any dividend or distribution to the Company’s stockholders in cash
or shares (or rights to acquire shares) of capital stock of a subsidiary) (a “Distribution”), the Company
shall deliver written notice of such Distribution (a “Distribution Notice”) to the Holder at least fifteen
(15) business days prior to the earlier to occur of (i) the record date for determining stockholders entitled to such Distribution
(the “Record Date”) and (ii) the date on which such Distribution is made (the “Distribution
Date”). The Holder shall be entitled, at its option (to be exercised by written notice delivered to the Company on
or before the fifteenth (15th) business day following the date on which a Distribution Notice is delivered to the Holder),
either (A) upon any exercise of this Warrant on or after the Record Date, to be entitled to receive, on the Distribution Date (for
any exercise effected prior to the Distribution Date) or the applicable Delivery Date (for any exercise effected after the Distribution
Date), the amount of such assets which would have been payable to the holder with respect to the shares of Common Stock issuable
upon such exercise (without giving effect to any limitations on such exercise contained in this Warrant or the Purchase Agreement)
had the Holder been the holder of such shares of Common Stock on the Record Date or (B) upon any exercise of this Warrant on or
after the Distribution Date, to reduce the Exercise Price applicable to such exercise by reducing the Exercise Price in effect
on the business day immediately preceding the Record Date by an amount equal to the fair market value of the assets to be distributed
divided by the number of shares of Common Stock as to which such Distribution is to be made, such fair market value to be
reasonably determined in good faith by the independent members of the Company’s Board of Directors. Notwithstanding anything
herein to the contrary, if the Holder does not notify the Company of whether the Holder has elected clause (A) or (B) in the preceding
sentence by the date that is fifteen (15) business days after the date on which the Company delivers a Distribution Notice to the
Holder, the Company shall have the right, exercisable upon written notice to the Holder, to determine whether clause (A) or (B)
shall be applicable to exercises of this Warrant effected on or after the Distribution Date.

 

4.          Major Transactions. In
the event of a merger, consolidation, business combination, tender offer, exchange of shares, recapitalization, reorganization,
redemption or other similar event, as a result of which shares of Common Stock shall be changed into the same or a different number
of shares of the same or another class or classes of stock or securities or other assets of the Company or another entity or the
Company shall sell all or substantially all of its assets (each of the foregoing being a “Major Transaction”),
the Company will give the Holder at least ten (10) Trading Days’ written notice prior to the earlier of (I) the closing or
effectiveness of such Major Transaction and (II) the record date for the receipt of such shares of stock or securities or other
assets, and the Holder shall be permitted to exercise this Warrant in whole or in part at any time prior to the record date for
the receipt of such consideration and shall be entitled to receive, for each share of Common Stock issuable to the Holder upon
such exercise, the same per share consideration payable to the other holders of Common Stock in connection with such Major Transaction.
If and to the extent that the Holder retains this Warrant or any portion hereof following such record date, the Company will cause
the surviving or, in the event of a sale of assets, purchasing entity, as a condition precedent to such Major Transaction, to assume
the obligations of the Company with respect to this Warrant, with such adjustments to the Exercise Price and the securities covered
hereby as may be necessary in order to preserve the economic benefits of this Warrant to the Holder.

 

    	-5-

    	 

    
 

5.          Fractional Interests.
No fractional shares or scrip representing fractional shares shall be issuable upon the exercise of this Warrant. If, on exercise
of this Warrant, the Holder hereof would be entitled to a fractional share of Common Stock or a right to acquire a fractional share
of Common Stock, the Company shall, in lieu of issuing any such fractional share, pay to the Holder an amount in cash equal to
the product resulting from multiplying such fraction by the Trading Price as of the Exercise Date.

 

6.          Transfer of this Warrant.
The Holder may not sell, transfer, assign, pledge or otherwise dispose of this Warrant, in whole or in part, unless such sale or
other disposition is made pursuant to an effective registration statement or the Holder provides the Company with an opinion of
counsel reasonably acceptable to the Company that the transfer may be made without registration under the Securities Act and applicable
state securities laws an exemption from the registration requirements of the Securities Act, and applicable state securities laws.
Upon such transfer or other disposition, the Holder shall deliver this Warrant to the Company together with a written notice to
the Company, substantially in the form of the Transfer Notice attached hereto as Exhibit B (a “Transfer
Notice”), indicating the person or persons to whom this Warrant shall be transferred and, if less than all of this
Warrant is transferred, the number of Warrant Shares to be covered by the part of this Warrant to be transferred to each such person.
Within ten (10) business days of receiving a Transfer Notice and the original of this Warrant, the Company shall deliver to the
each transferee designated by the Holder a Warrant or Warrants of like tenor and terms for the appropriate number of Warrant Shares
and, if less than all this Warrant is transferred, shall deliver to the Holder a Warrant for the remaining number of Warrant Shares.

 

7.          Benefits of this Warrant;
Headings. This Warrant shall be for the sole and exclusive benefit of the Holder of this Warrant and nothing in this Warrant
shall be construed to confer upon any person other than the Holder of this Warrant any legal or equitable right, remedy or claim
hereunder. The headings used in this Warrant are for convenience of reference only and shall not limit or otherwise affect the
meaning hereof.

 

8.          Loss, theft, destruction or
mutilation of Warrant. Upon receipt by the Company of evidence of the loss, theft, destruction or mutilation of this Warrant,
and (in the case of loss, theft or destruction) of indemnity reasonably satisfactory to the Company, and upon surrender of this
Warrant, if mutilated, the Company shall execute and deliver a new Warrant of like tenor and date in replacement for the lost,
stolen, destroyed or mutilated Warrant.

 

    	-6-

    	 

    
 

9.          Notice or Demands. Any
notice, demand or request required or permitted to be given by the Company or the Holder pursuant to the terms of this Warrant
shall be in writing and shall be deemed delivered (i) when delivered personally or by verifiable facsimile transmission, unless
such delivery is made on a day that is not a business day, in which case such delivery will be deemed to be made on the next succeeding
business day, (ii) on the next business day after timely delivery to an overnight courier and (iii) on the business day actually
received if deposited in the U.S. mail (certified or registered mail, return receipt requested, postage prepaid), addressed as
follows:

 

If to the Company or the Issuer:

 

Synthetic Biologics, Inc.

617 Detroit Street, Suite 100

Ann Arbor, MI 48104

Attention: Jeffrey Riley, President and
CEO

Tel: (734) 332-7800

Fax:(734) 332-7878

and if to the Holder, to such address as
shall be designated by the Holder in writing to the Company.

 

10.          Taxes.The issue of
stock certificates on exercises of this Warrant shall be made without charge to the exercising Holder for any tax in respect of
the issue thereof. The Company shall not, however, be required to pay any tax which may be payable in respect of any transfer involved
in the issue and delivery of stock in any name other than that of the Holder of any Warrant exercised, and the Company shall not
be required to issue or deliver any such stock certificate unless and until the person or persons requesting the issue thereof
shall have paid to the Company the amount of such tax or shall have established to the reasonable satisfaction of the Company that
such tax has been paid.

 

11.          Governing Law. This Warrant
shall be governed by and construed under the laws of the State of Michigan applicable to contracts made and to be performed entirely
within the State of Michigan. The Company hereby irrevocably submits to the non-exclusive jurisdiction of the state and federal
courts sitting in the City of Ann Arbor for the adjudication of any dispute hereunder or in connection herewith or with any transaction
contemplated hereby and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it
is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient
forum or that the venue of such suit, action or proceeding is improper. The Company hereby irrevocably waives personal service
of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof to it at the address
in effect for notices to it under this Warrant and agrees that such service shall constitute good and sufficient service of process
and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted
by law.

 

13.          Amendments.Except
as expressly provided herein, neither this Warrant nor any term hereof may be amended except pursuant to a written instrument executed
by the Company and the Holder, and no provision hereof may be waived other than by a written instrument signed by the party against
whom enforcement of any such waiver is sought. Any waiver or consent shall be effective only in the specific instance and for the
specific purpose for which given.

 

14.          Successors and Assigns.
This Warrant shall be binding upon the successors and permitted assigns of the parties. The Company may not assign its rights or
obligations under this Agreement without the prior written consent of the Holder, which consent shall not be unreasonably withheld.

 

[Signature Page to Follow]

 

    	-7-

    	 

    

 

IN
WITNESS WHEREOF, the Company has duly executed and delivered this Warrant as of the Issue Date.

 

	 	SYNTHETIC BIOLOGICS, INC.
	 	 
	 	 
	 	By: 	
	 	 	Name: Jeffrey Riley
Title: President and CEO

 

    	-8-

    	 

    
 

EXHIBIT A to WARRANT

 

EXERCISE NOTICE

 

 

The undersigned Holder
hereby irrevocably exercises the right to purchase   of the shares of Common Stock (“Warrant Shares”)
of ____________ (the “Company”) evidenced by the attached Warrant (the “Warrant”).
Capitalized terms used herein and not otherwise defined shall have the respective meanings set forth in the Warrant.

 

1. Form of Exercise Price. The
Holder intends that payment of the Exercise Price shall be made as:

 

______ a Cash Exercise
with respect to _________________ Warrant Shares; and/or

 

______ a Cashless
Exercise with respect to _________________ Warrant Shares, as permitted by Section 1(a) of the attached Warrant.

 

2. Payment of Exercise Price. In
the event that the Holder has elected a Cash Exercise with respect to some or all of the Warrant Shares to be issued pursuant hereto,
the Holder shall pay the sum of $________________ to the Company in accordance with the terms of the Warrant.

 

By tendering this Exercise
Notice, the Holder represents to the Company that it is an “accredited investor” as that term is defined in Rule 501
of Regulation D under the Securities Act, and that it is acquiring the Warrants Shares solely for its own account, and not with
a present view to the public resale or distribution of all or any part thereof.

 

 

	Date:	 	 	Tax Id Number:	 
	 	 	 	 	 
	 	 	 	Mailing Address:	 
	 	 	 	 	 
	 	 	 	 	 
	Name of Registered Holder	 	 	 
	 	 	 	Brokerage Firm:	 
	 	 	 	 	 
	By:	 	 	Brokerage Account #:	 
	 	       Name:	 	 	 
	 	       Title:	 	DTC Code (if applicable):	 

  

    	-9-

    	 

    

 

EXHIBIT B to WARRANT

 

TRANSFER NOTICE

 

FOR VALUE RECEIVED, the undersigned Holder
of the attached Warrant hereby sells, assigns and transfers unto the person or persons named below the right to purchase  
shares of the Common Stock of ____________ evidenced by the attached Warrant.

 

 

Date: ______________________

 

 

___________________________________

Name of Registered
Holder

 

By:  _______________________________

Name:

Title:

 

 

By tendering this Transfer Notice, the
above named transferee represents to the Company that it is an “accredited investor” as that term is defined in Rule
501 of Regulation D under the Securities Act, and that it is acquiring the Warrants solely for its own account, and not with a
present view to the public resale or distribution of all or any part thereof.

 

 

 

_________________________________

Transferee

 

    	-10-Exhibit 10.42

 

AMENDMENT TO EMPLOYMENT AGREEMENT 

 

This Amendment, dated
October 1, 2012 (the "Amendment"), to the Employment Agreement, dated January 2, 2012 (the "Employment Agreement"),
is entered into between Steve H. Kanzer, CPA, ill ("Employee") and Synthetic Biologics, Inc. (the "Corporation").

  

WITNESSETH: 

 

WHEREAS, Employee
was retained under the Employment Agreement by the Corporation to serve as its Interim Director, Biologics Division and WHEREAS,
the Corporation desires to appoint Employee as its License Associate and as a result amend the Employment Agreement.

 

NOW, THEREFORE, in
consideration of the mutual covenants and agreements contained herein, the parties hereto agree as follows:

 

		1.	Section 1(a) and (b) of the Agreement are hereby deleted and replaced
with the following:

 

"(a) The Corporation
hereby engages and employs Employee as a License Associate, and Employee hereby accepts such engagement and employment, for the
term of this Agreement, subject to its earlier termination as provided in Section 8 of this Agreement. It is expected that Employee's
duties as its License Associate will include reporting directly to the Chief Executive Officer of the Corporation for the identification
and licensing of technologies and products within the scope of the Corporation's business of infectious disease, monoclonal antibodies,
DNA-based therapeutics, estrogens, zinc based products and development of products for the treatment of Multiple Sclerosis, Alzheimer's
disease, Amyotrophic Lateral Sclerosis, Pulmonary Arterial Hypertension and performing such other duties, authorities and responsibilities
commensurate with the duties, authorities and responsibilities of persons in similar capacities in similarly sized companies.

 

(b) Employee shall
devote 2.5 days per week or 17.5 hours to the affairs of the Corporation."

 

2. The first
sentence of Section 2 of the Employment Agreement is hereby deleted in its entirety and replaced with the following:

 

"The term ("Term")
of Employee's employment shall be two (2) years from October 1, 2012 unless terminated earlier under Section 8 of this Agreement."

 

3. Section 3(a)(i)
of the Employment Agreement is hereby deleted and replaced with the following:

 

"Employee shall
receive an annual base salary of One Hundred Fifty Thousand Dollars ($150,000) for the Term (the "Base Salary"), payable
semi-monthly."

 

4. Section 3(c)
of the Employment Agreement is deleted in its entirety.

 

5. Clause (e) and
the last sentence of Section 8 of the Employment Agreement are deleted in their entirety and replaced with the following:

 

"(e) "Good
Reason", meaning a material breach by the Corporation of the terms of this Agreement, which breach is not cured within thirty
(30) days after notice thereof from Employee; or

 

 

    	 

    	 	

    

 

In the event that
Employee intends to terminate his employment for Good Reason, Employee shall give the Corporation written notice of his intention
to terminate his employment, and such termination may be effective immediately, unless a cure period applies, in which case the
termination date may not precede the expiration date of the applicable cure period.

 

(f) Without Good Reason,
meaning written notice by Employee to the Corporation of a termination without Good Reason.

 

If Employee's employment
hereunder is terminated for any reason, Employee or his estate as the case may be, will only be entitled to receive the accrued
base salary, vacation pay, expense reimbursement and any other entitlements accrued by Employee under Section 3, to the extent
not previously paid (the sum of the amounts described in this subsection shall be hereinafter referred to as the "Accrued
Obligations"); provided, however, that if Employee's employment is terminated by the Corporation Without Just Cause or by
the Employee for Good Reason then in addition to paying Accrued Obligations, the Corporation shall pay the Employee as a severance
benefit, an amount equal to three months' base salary. This amount shall be paid to the Employee in accordance with the Corporation's
standard salary payments to its employees."

 

6. All other terms
of the Employment Agreement shall remain in full force and effect. The Employment Agreement, as amended by this Amendment, constitutes
the entire agreement between the parties with respect to the subject matter thereof.

 

7.If any of the
provisions of this Amendment are held to be invalid or unenforceable, the remaining provisions to the subject matter thereof.

 

8.This Amendment
is made and shall be construed and performed under the laws of the remaining provisions will nevertheless continue to be valid
and enforceable. State of Maryland without regard to its choice or conflict of law principles and the parties agree to Maryland
as the exclusive venue for any disputes arising hereunder.

 

	SYNTHETIC BIOLOGICS, INC.	 	
	 	 	 
	 	 	 
	By:	/s/ Jeffrey Riley	 	/s/ Steve H. Kanzer               
	Name:	 Jeffrey Riley	 	Steve H. Kanzer
	Title: 	 Chief Executive Officer

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