Document:

EMPLOYMENT
AGREEMENT

    

    This
Employment Agreement (this “Agreement”),  is between Aquarius Gaming,
LLC (the “Company”), having an address at 2000 Las Vegas Boulevard South, Las
Vegas, Nevada 89104, and Paul Hobson (“Employee”), of  Las Vegas,
Nevada.

    

    1. Employment

    

    Upon the
terms and conditions hereinafter set forth, the Company hereby agrees to employ
Employee and Employee hereby agrees to become employed by the Company. During
the Term of Employment (as hereinafter defined), Employee shall be employed in
the position of General Manager of Aquarius Gaming, LLC and shall also serve in
other positions of the affiliates of the Company as may be designated (the
“Designated Affiliates”) from time to time by the CEO, provided that such
Designated Affiliates are engaged in businesses relating to gaming, casino or
resort operation or development (collectively, the “Gaming Business”). Employee
shall perform such duties as are specified from time to time by the
Company.  Employee shall report to and be under the supervision of the
Chief Executive Officer.

    

    During
the Term of Employment, Employee shall devote his professional attention, on a
full time basis, to the business and affairs of the Company and the Designated
Affiliates, shall use his best efforts to advance the best interest of the
Company and the Designated Affiliates and shall comply with all of the policies
of the Company and the Designated Affiliates, including, without limitation,
such policies with respect to legal and gaming compliance, conflicts of
interest, confidentiality and business ethics as are from time to time in
effect.

    

    Except as
specifically provided herein, during the Term of Employment, Employee shall not,
without the prior written consent of the Company, directly or indirectly (i)
render services to, or otherwise act in a business or professional capacity on
behalf of or for the benefit of, any other individual, entity, company or group
(hereinafter referred to as “Person”) as an employee, advisor, independent
contractor, agent, consultant, representative or otherwise, whether or not
compensated, or (ii) plan, take any actions in furtherance of, or otherwise
devote any time to, any future business opportunity (except as otherwise
provided in this Agreement), whether sponsored by Employee or any other Person
(the “Exclusivity Obligation” ).

    

    2. Term

    

    The
employment period under this Agreement shall commence as of March 9, 2010 and
shall continue through the period (the “Term of Employment”) ending on March 9,
2012 (the “Expiration Date”), unless earlier terminated as set forth in this
Agreement.  Company shall provide Employee with at least a sixty (60)
day written notice should it determine not to renew an employment agreement with
Employee.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    3. Compensation

    

    For all
services to be performed by Employee under this Agreement, during the Term of
Employment, Employee shall be compensated in the following manner:

    

    (a) Base
Compensation 

    

    The
Company will pay Employee a salary (the “Base Salary”) at an annual rate of Two
Hundred Fifty Thousand dollars ($250,000).  The Base Salary shall be
payable in accordance with the normal payroll practice of the Company (but no
less frequently than bi-weekly).  In addition, Employee shall be
entitled to such Company standard benefits as other employees in similar
position for which Employee may become eligible.

    

    (b) Bonus
Compensation

    

    During
the Term of Employment, Employee shall be eligible to receive an annual bonus,
as may, from time to time, be determined in the sole discretion of the Board
(the “Bonus Compensation”).

    

    (c) Taxes

    

    All
amounts paid by the Company to Employee under or pursuant to this Agreement,
including, without limitation, the Base Salary, and any Bonus Compensation, or
any other compensation or benefits, whether in cash or in kind, shall be subject
to normal withholding and deductions imposed by any one or more local, state or
federal governments.

    

    
      4. 
Termination

    

    

    This
Agreement shall terminate (subject to Section 9(g) below) and the Term of
Employment shall end, on the first to occur of (each a “Termination
Event”):

     

    
      	
            	
              (a) 

            	
              The
      Expiration Date;

            

    

    

    
      	
            	
              (b) 

            	
              The
      death of Employee or the total or partial disability that, in the judgment
      of the Company, renders Employee, with or without reasonable
      accommodation, unable to perform his essential job functions for the
      Company for a period of at least 90 consecutive business
    days;

            

    

    

    
      	
            	
              (c) 

            	
              The
      discharge of Employee by the Company with (i) Cause (as hereinafter
      defined) or (ii) without Cause;

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
            	
              (d) 

            	
              The
      resignation of Employee (and without limiting the effect of such
      resignation, Employee agrees to provide the Company with not less than 30
      days prior written notice of his resignation);
  or

            

    

    

    The
Company may discharge Employee at any time, for any reason or no reason, with or
without Cause, in which event Employee shall be entitled only to such payments
as are set forth in Section 5 below.

    

    As used
herein, “Cause” is defined as Employee’s: (i) failure to perform the duties
assigned to him; (ii) chronic impairment due to alcohol or substance abuse;
(iii) conviction of a Serious Crime or being charged with a felony (for
purposes of this Agreement a “Serious Crime” is a crime that the Company
believes could prohibit the Employee from obtaining or maintaining any work
card, license, or finding of compliance suitability necessary for Employee to
maintain employment with Company) ; (iv) violation of a federal or state
securities law or regulation; (v) negligent conduct, error or omission in the
carrying out of his duties under this Agreement; (vi) conduct that causes damage
to the reputation of the Company(vii) breach of the Exclusivity Obligation or
any of the obligations set forth in Section 6 or Section 7 below; (viii) any
revocation or suspension by any state or local authority of Employee’s required
license(s) to serve in his position(s) with the Company; or (ix) any act or
failure to act by Employee which causes any gaming or other regulatory authority
having jurisdiction over the Company, the Designated Affiliates or any of their
affiliates to seek any material redress or remedy against Employee, the Company,
any Designated Affiliate or any of their affiliates.

    

    5. Effect of
Termination

    

    In the
event of termination of Employee’s employment hereunder, all rights of Employee
under this Agreement, including all rights to compensation, shall end and
Employee shall only be entitled to be paid the amounts set forth in this Section
5 below.

    

    (a) In
the event that the Term of Employment ends (i) for the reason set forth in
Section 4(a) above (i.e., Expiration Date), or (ii) for any of the reasons set
forth in Section 4(b) above (i.e. death or disability) or (iii) for the reason
set forth in Section 4(d) above (i.e. resignation), or (iv) for the reason set
forth in Section 4(c)(i) (with Cause), then, in lieu of any other payments of
any kind, Employee shall be entitled to receive, within fifteen (15) days
following the date on which the Termination Event in question occurred (the
“Clause (a) Termination Date”) any amounts of: (A) Base Salary due and unpaid to
Employee from the Company as of the Clause (a) Termination Date; and (B) Bonus
Compensation earned, vested, due and unpaid to Employee from the Company as of
the Clause (a) Termination Date.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (b)  In
the event that the Term of Employment ends (i) for the reasons set forth in
Section 4(c)(ii) above (without Cause) then, in lieu of any other payments of
any kind, Employee shall be entitled to receive, within fifteen (15) days
following the date on which the Termination Event in question occurred (the
“Clause (b) Termination Date”) any amounts of: (A) Base Salary due and unpaid to
Employee from the Company as of the Clause (b) Termination Date; (B) Bonus
Compensation earned, vested, due and unpaid to Employee from the Company as of
the Clause (b) Termination Date; (C) Severance Payment equal to Two Hundred
Fifty Thousand Dollars ($250,000).

    

    6. Non-Disclosure

    

    During
the Term of Employment and for a period of two years from the Employees last day
of employment with the Company , Employee shall hold in a fiduciary capacity for
the benefit of the Company, each Designated Affiliate and each of their
affiliates, respectively, all secret or confidential information, , including,
without limitation, statistical data, trade secrets, identity of investments,
identity of contemplated investments, business opportunities, valuation models
and methodologies, relating to the business of the Company, the Designated
Affiliates or their affiliates, and their respective business as, (i) obtained
by Employee at any time during Employee’s employment by the Company and (ii) not
otherwise in the public domain (“Confidential Information”). Employee also
agrees to keep confidential and not disclose to any unauthorized Person any
personal information regarding the Designated Affiliates or any of their
affiliates and any member of the immediate family of any such Person (and all
such personal information shall be deemed “Confidential Information” for the
purposes of this Agreement). Employee shall not, without the prior written
consent of the Company: (i) except to the extent compelled pursuant to the order
of a court or other body having jurisdiction over such matter or based upon the
advice of counsel that such disclosure is legally required, communicate or
divulge any Confidential Information to anyone other than the Company and those
designated by the Company; or (ii) use any Confidential Information for any
purpose other than the performance of his duties as an employee of the Company.
Employee will assist the Company, at the Company’s expense, in obtaining a
protective order, other appropriate remedy or other reliable assurance that
confidential treatment will be accorded any Confidential Information disclosed
pursuant to the terms of this Agreement.

    

    In no
event shall Employee during or after his employment hereunder, disparage the
Company, its Affiliates, their respective affiliates or any of their respective
officers, directors or employees.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    All
processes, technologies, intellectual property and inventions (collectively,
“Inventions”) conceived, developed, invented, made or found by Employee, alone
or with others, during the Term of Employment, whether or not patentable and
whether or not on the Company’s time or with the use of the Company’s facilities
or materials, shall be the property of the Company and shall be promptly and
fully disclosed by Employee to the Company. Employee shall perform all necessary
acts (including, without limitation, executing and delivering any confirmatory
assignments, documents, or instruments requested by the Company) to vest title
to any such Inventions in the Company and to enable to the Company, at its
expense, to secure and maintain domestic and/or foreign patents or any other
rights for such Inventions.

    

    7. Non-Compete

    

    (a)
During the first calendar year of Employment under this Agreement, unless
Employee’s employment is terminated for the reason set forth in Section 4(a)
above (i.e., Expiration Date) or under Section 4(c)(i) (for Cause) , in which
case this Section 7(a) shall terminate automatically and without notice, for a
period of six (6) months following the last day of Employee’s employment by the
Company, Employee will not, either directly or indirectly, as principal, agent,
owner, employee, partner, investor, shareholder (other than solely as a holder
of not more than 1% of the issued and outstanding shares of any public
corporation), consultant, advisor or otherwise howsoever own, operate, carry on
or engage in the operation of or have any financial interest in or provide,
directly or indirectly, financial assistance to or lend money to or guarantee
the debts or obligations of any Person carrying on or engaged in the hotel or
casino business in or within one hundred (100) miles of the Aquarius Hotel and
Casino or Affiliate property at which Employee last worked at time of
termination of this Employment Agreement.

    

    Notwithstanding
the foregoing, nothing in this Agreement will prohibit Employee from investing
in the securities of private companies in which he does not participate in the
management (either as an employee, officer or director), provided that such
investment has been cleared in accordance with all investment or insider trading
policies applicable to Employee .

    

    (b)
Employee covenants and agrees with the Company and its subsidiaries that, during
Employee’s employment by the Company and for one (1) year following the last day
of Employee’s employment by the Company, Employee shall not directly, or
indirectly, for himself or for any other Person:

    

    
      	
            	
              (i) 

            	
              solicit,
      interfere with or endeavor to entice away from the Company, any Designated
      Affiliate or any of their subsidiaries or affiliates, any customer, client
      or any Person in the habit of dealing with any of the
      foregoing;

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
            	
              (ii) 

            	
              interfere
      with, entice away or otherwise attempt to obtain the withdrawal of any
      employee of the Company, any Designated Affiliate or any of their
      subsidiaries or affiliates; or

            

    

    

    
      	
            	
              (iii) 

            	
              advise
      any Person not to do business with the Company, any Designated Affiliate
      or any of their subsidiaries or
affiliates.

            

    

    

    Employee
represents to and agrees with the Company that the enforcement of the
restrictions contained in Section 6 and Section 7 (the Non-Disclosure and
Non-Compete sections respectively) would not be unduly burdensome to Employee
and that such restrictions are reasonably necessary to protect the legitimate
interests of the Company. Employee agrees that the remedy of damages for any
breach by Employee of the provisions of either of these sections may be
inadequate and that the Company shall be entitled to injunctive relief, without
posting any bond. In the event the terms of this Section 7 shall be determined
by any court of competent jurisdiction to be unenforceable by reason of its
extending for too great a period of time or over too great a geographical area
or by reason of its being too extensive in any other respect, it will be
interpreted to extend only over the maximum period of time for which it may be
enforceable, over the maximum geographical area as to which it may be
enforceable, or to the maximum extent in all other respects as to which it may
be enforceable, all as determined by such court in such action. This section
constitutes an independent and separable covenant that shall be enforceable
notwithstanding any right or remedy that the Company may have under any other
provision of this Agreement or otherwise.

    

    8. Benefits

    

    During
the Term of Employment, Employee shall be entitled to receive certain healthcare
and other similar employee welfare benefits (including eligibility to
participate in the Executive Medical Reimbursement Plan provided by the Company)
comparable to those received by other employees of the Company at a similar pay
level and/or position with the Company as such may be provided by the Company in
its sole and absolute discretion from time to time within thirty (30) days
hereof.  In the event that, during the Term of Employment, the Company
awards to its executives stock options or restricted stock in anticipation of a
public offering, Employee shall be eligible to receive an award of such options
or restricted stock comparable to that received by other employees at a similar
pay level and/or position with the Company; provided, however, that the decision
to make any such award to Employee and the amount of any such award shall be
subject to the review and approval of the Board, in its sole and absolute
discretion.

    

    9.    
Miscellaneous

    

    
      	
            	
              (a) 

            	
              This
      Agreement constitutes the entire agreement between the parties with
      respect to the subject matter hereof and supersedes all previous written,
      and all previous or contemporaneous oral negotiations, understandings,
      arrangements, and agreements.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
            	
              (b) 

            	
              This
      Agreement and all of the provisions hereof shall inure to the benefit of
      and be binding upon the legal representatives, heirs, distributees,
      successors (whether by merger, operation of law or otherwise) and assigns
      of the parties hereto; provided, however, that Employee may not delegate
      any of Employee’s duties hereunder, and may not assign any of Employee’s
      rights hereunder, without the prior written consent of the Company, which
      may be withheld in its sole and absolute discretion. If elected by the
      Company, upon any such assignment, all references herein to the Company
      shall be deemed instead to be references to the assignee and/or its
      designee(s).

            

    

    

    
      	
            	
              (c) 

            	
              This
      Agreement will be interpreted and the rights of the parties determined in
      accordance with the laws of the United States applicable thereto and the
      internal laws of the State of
Nevada.

            

    

    

    
      	
            	
              (d) 

            	
              Employee
      covenants and represents that he is not a party to any contract,
      commitment or agreement, nor is he subject to, or bound by, any order,
      judgment, decree, law, statute, ordinance, rule, regulation or other
      restriction of any kind or character, which would prevent or restrict him
      from entering into and performing his obligations under this Agreement,
      including without limitation any contract, commitment, agreement, rule or
      regulation relating to the Other
Activity.

            

    

    

    
      	
            	
              (e) 

            	
              Employee
      acknowledges that he has had the assistance of legal counsel in reviewing
      and negotiating this Agreement.

            

    

    

    
      	
            	
              (f) 

            	
              This
      Agreement shall be deemed drafted equally by both the parties. Its
      language shall be construed as a whole and according to its fair meaning.
      Any presumption or principle that the language is to be construed against
      any party shall not apply. The headings in this Agreement are only for
      convenience and are not intended to affect construction or interpretation.
      Any references to paragraphs, subparagraphs, sections or subsections are
      to those parts of this Agreement, unless the context clearly indicates to
      the contrary.

            

    

    

    
      	
            	
              (g) 

            	
              This
      Agreement and all of its provisions, other than the provisions of Section
      5, Section 6, Section 7 and Section 9 hereunder (which shall survive
      termination), shall terminate upon Employee ceasing to be an employee of
      the Company for any reason.

            

    

    

    
      	
            	
              (h) 

            	
              In
      the event of the death of Employee during the Term of Employment,
      Employee’s heir shall be entitled to receive all payments otherwise
      earned, vested, due and unpaid to Employee from the Company pursuant to
      the terms and conditions of this Agreement as of the date of Employee’s
      death.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
            	
              (i) 

            	
              Employee
      acknowledges and agrees that he shall be solely responsible for the
      payment of all federal, state and other income taxes, excise taxes and
      other taxes that may be payable from time to time by Employee with respect
      to all payments or benefits earned or received by or payable to Employee
      under this Agreement (whether consisting of Base Salary, Bonus
      Compensation, Severance Payment, or otherwise) and shall not be entitled
      to receive any “gross-up payments” or other additional payments from the
      Company or its affiliates on account of, with respect to, in mitigation
      of, or as a set-off against, such taxes. Without limiting the foregoing,
      if it is determined that any amount, right or benefit paid or payable (or
      otherwise provided or to be provided) to Employee by the Company or any of
      its affiliates under this Agreement or any other plan, program or
      arrangement under which Employee participates or is a party (whether
      consisting of Base Salary, Bonus Compensation, Severance Payment, or
      otherwise), would constitute an “excess parachute payment” within the
      meaning of Section 280G of the Internal Revenue Code, as amended (the
      “Code”), subject to the excise tax imposed by Section 4999 of the Code, as
      amended from time to time (the “Excise Tax”), then Employee shall be
      solely responsible for the payment of the Excise Tax and shall not be
      entitled to receive any “gross-up payments” or other additional payments
      from the Company or its affiliates on account of, with respect to, in
      mitigation of, or as a set-off against, such Excise
  Tax.

            

    

    

    
      
        
          
            	
                    American
      Casino & Entertainment

                    Properties,
      LLC

                  	 
      
	 
      	 
      	 
      
	
                    By:

                  	
                    /s/
      Frank V. Riolo

                  	 
      
	 
      	
                    Name:
      Frank V. Riolo

                  	 
      
	 
      	
                    Title:
      CEO

                  	 
      

          

        

      

    

     

    
      
        
          
            	
                    EMPLOYEE:

                  	 
      
	 
      	
                    /s/ Paul HobsonExhibit
10.66

    Employment
Agreement with Robert Dickey IV

    

    
      
        
          
            	
                    Mr.
      Robert Dickey IV

                  	
                    June
      11, 2009

                  
	
                    320
      W. Mermaid Lane

                  	 
      
	
                    Philadelphia,
      PA  19118

                  	 
      

          

        

      

    

    

    Dear
Rob:

    

    We are
pleased to offer you a position with Hemispherx Biopharma, Inc. (“Hemispherx” or
the “Company”) as Senior Vice President, reporting to me.

    

    
      	
            	
              1.

            	
              Annual
      Salary. You will receive an annual salary of $275,000, less standard payroll
      deductions and all required withholdings.  Your salary will be
      paid semi-monthly in accordance with our normal payroll
      procedures.

            

    

    

    
      	
            	
              2.

            	
              Employee
      Benefits. You will also be eligible to receive employee benefits,
      including health care and paid time off, consistent with Hemispherx
      company policy for an employee of your seniority.  We will
      provide you promptly with materials detailing our benefits
      programs.

            

    

    

    
      	
            	
              3.

            	
              Bonus
      Opportunity. Your annual bonus opportunity will also be consistent
      with Company policy for employees of your seniority and will initially be
      set at 25% of your annual salary.  Bonuses are payable at the
      Company’s discretion, dependent upon both Company and individual
      performance.  This bonus is not a “cliff” bonus, and can be
      partially earned based on partial achievement of
    objectives.

            

    

    

    
      	
            	
              4.

            	
              Stock
      Options.  You will receive an initial grant of options to
      purchase 150,000 shares of
      Hemispherx common stock at an exercise price of $2.81 per share, equal to
      110% of $2.55, the closing price of the Company’s common stock on the
      American Stock Exchange on June 11, 2009, the date on which this agreement
      was reached.  These options shall vest monthly over a four year
      period beginning July, 2009.  You will also be entitled to
      receive additional annual grants in accordance with the Company’s
      incentive compensation policies and plans or as the result of the
      achievement of personal objectives agreed to between you and the Company
      from time to time.

            

    

    

    
      	
            	
              5.

            	
              Fundraising
      Agreement.  The parties agree to terminate the agreement
      dated November 26, 2008 pursuant to which the Company engaged you to
      assist in fund raising.

            

    

    

    
      	
            	
              6.

            	
              Termination.

            

    

    

    
      	
               
      

            	
              a.

            	
              Your
      employment with Hemispherx Biopharma is “at-will” in which either party
      may cancel upon two weeks written
notice.

            

    

    

    
      	
               
      

            	
              b.

            	
              If,
      after three (3) months of service as an employee, there is a Change in
      Control and within one year following the Change of Control you are
      involuntarily terminated or constructively terminated as a result of
      material diminution, on a cumulative and aggregate basis (taking into
      account any increases in such items), of your duties, authorities,
      position, compensation or benefits the Company will provide you with an
      amount equal to 1.5 times your annual compensation in effect on the date
      of the Change in Control or, if greater, as in effect immediately prior to
      the date of termination plus an amount equal to 1.5 times your bonus award
      for the year immediately preceding the year of the Change in
      Control.

            

    

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              c.

            	
              If,
      after six (6) months of service as an employee, you are involuntarily
      terminated for any reason other than for Cause or constructively
      terminated as a result of material diminution, on a cumulative and
      aggregate basis (taking into account any increases in such items), of your
      duties, authorities, position, compensation or benefits, the Company will
      provide you with an amount equal to 25% of your annual compensation in
      effect immediately prior to the date of termination plus an amount equal
      to 25% of your bonus award for the year immediately preceding the year of
      the date of termination.  These amounts provided in this
      paragraph are not in addition to any amounts to be provided under Section
      (b) above.

            

    

    

    
      	
               
      

            	
              d.

            	
              If,
      after three (3) months of service as an employee, there is a Change in
      Control you will receive accelerated vesting for 100% of all unvested
      stock option shares that have been granted to you prior to the time of
      termination.

            

    

    

    
      	
               
      

            	
              e.

            	
              For
      Cause termination shall mean a termination at the election of the Company,
      for Cause.  For the purposes of this Agreement, "Cause" for
      termination shall be deemed to exist upon (a) the occurrence of
      dishonesty, gross negligence or misconduct which is materially injurious
      to the Company, (b) your conviction of, or the entry of a pleading of
      guilty or nolo-contendere to, any crime involving moral turpitude or any
      felony, or (c) your refusal to implement an instruction of the CEO or an
      approved resolution of the Board of Directors, insofar as such instruction
      or resolution is reasonable and not inconsistent with the terms of this
      Agreement.  Termination Without Cause shall mean any termination
      at the election of the Company, other than pursuant to a Termination for
      Cause or pursuant to your death or disability, and shall take effect on
      the date of termination set forth in a notice to you.  The term
      "disability" shall mean that you shall have been unable to perform the
      services contemplated under this Agreement for a continuous period of not
      less than six months, due to a physical or mental disability.  A
      determination of disability shall be made by a physician satisfactory to
      both you and the Company, provided that if you and the Company do not
      agree on a physician, you and the Company shall each select a physician
      and these two together shall select a third physician, whose determination
      as to disability shall be binding on all parties.  Change of
      Control means the consummation of (i) a business combination (such as a
      merger or consolidation) of the Company with any other corporation or
      other type of business entity (such as a limited liability company), other
      than a business combination that would result in the voting securities of
      the Company outstanding immediately prior thereto continuing to represent
      (either by remaining outstanding or by being converted into voting
      securities of the surviving entity) at least fifty percent (50%) of the
      total voting power represented by the voting securities of the surviving
      entity or its parent outstanding immediately after such business
      combination, or (ii) the sale, lease, exchange or other transfer or
      disposition by the Company to a non-affiliate of all or substantially all
      of the Company’s assets by value.

            

    

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    
      	
            	
              7.

            	
              Confidentiality
      Agreement.  You shall enter into a confidentiality
      agreement with the Company.

            

    

    

    
      	
            	
              8.

            	
              Modification. No
      modification or waiver of this Agreement or any provision hereof shall be
      binding upon the party against whom enforcement of such modification or
      waiver is sought unless it is made in writing and signed by or on behalf
      of both parties hereto.

            

    

    

    
      	
            	
              9.

            	
              Miscellaneous.
      This Agreement shall be subject to and construed in accordance with the
      laws of the Commonwealth of Pennsylvania.  The waiver by either
      party of a breach of any provision of this Agreement by the other party
      shall not operate and be construed as a waiver or a continuing waiver by
      that party of the same or any subsequent breach of any provision of this
      Agreement by the other party.  If any provisions of this
      Agreement or the application thereof to any person or circumstance shall
      be determined any court of competent jurisdiction to be invalid or
      unenforceable to any extent, the remainder hereof, or the application of
      such provision to persons or circumstances other than those as to which it
      is so determined to be invalid or unenforceable, shall not be affected
      thereby, and each provision hereof shall be valid and shall be enforced to
      the fullest extent permitted by law.  This Agreement shall be
      binding on and inure to the benefit of the parties hereto and their
      respective heirs, executors and administrators, successors and
      assigns.  This Agreement shall not be assignable in whole or in
      part by either party, except that the Company may assign this Agreement to
      and it shall be binding upon any subsidiary or affiliate of the Company or
      any person, firm or corporation with which the Company may be merged or
      consolidated or which may acquire all or substantially all of the assets
      of the Company.  Absent the written consent of the parties this
      Agreement shall be kept confidential except that the Company may disclose
      the Agreement to the extent necessary to meet its Securities and Exchange
      Commission disclosure filing
requirements.

            

    

     

    If the
foregoing accurately represents our understanding, please sign two copies of the
offer letter and return one to me.

    

    If you
have any questions please feel free to call me anytime.  I am very
much looking forward to a mutually beneficial relationship with you at
Hemispherx Biopharma.

    

    Regards,

    
      

      
        
          
            
              	
                      /s/ William A. Carter

                    	 
      
	
                      William
      A. Carter, M.D

                    	 
      
	
                      Chairman
      and Chief Executive
Officer

                    

            

          

        

      

      

      Acknowledgement:

      I, Robert
Dickey IV, have read, understand and am in agreement with the contents of this
letter.

      

      
        
          
            
              	
                      /s/ Robert Dickey IV

                    	 
      
	
                      Robert
      Dickey
IV

                    

            

          

        

      

    

    
      
         

      

      
        3

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