Document:

EXHIBIT 10.33

                                CEPTOR AGREEMENT

         Agreement this 31st day of March, 2004 (the "Effective Date") by and
among WILLIAM PURSLEY ("WP"), XECHEM INTERNATIONAL, INC. ("Xechem") and CEPTOR
CORPORATION ("Ceptor").

                                    RECITALS:

         0.1. Xechem is the owner of one hundred percent (100%) of the shares of
issued and outstanding capital stock of Ceptor.

         0.2. WP is currently the president and chief operating officer of
Xechem, and serves as vice chairman of its board of directors. In connection
with his agreement to join the board of Xechem and his subsequent agreement to
become the president and chief operating officer of Xechem, Xechem agreed to
issue to WP options to purchase twenty percent (20%) of the outstanding capital
stock of Xechem on a diluted basis (the "WP Options") after giving effect to
certain additional stock issuances, including conversion of certain loans to
equity (based upon a $0.0025 per share conversion price--the MC Convertible
Loans), issuances of shares per the WP Options and comparable options in favor
of Ramesh Pandey, certain convertible loans convertible into 15,600,000 shares
of common stock and any subsequent stock that may be issued on conversion of
certain loans by Margie Chassman ("MC") to Xechem, all as more fully detailed in
the Forms 8-K and 10-Q previously filed by Xechem.

         0.3. Xechem has entered into an agreement with Alembic, Limited
("Alembic") for the issuance of common stock to Alembic and the funding of a
loan of $3,000,000 by Alembic over time, which amount, together with the
$640,000 equity investment by Alembic in Xechem and the future loan commitment
by MC to Xechem are hoped to be sufficient to enable Xechem to implement its
business plan to bring Hemoxin to market in Nigeria and to provide a platform
and basis for additional financing to fund the investigational new drug
application for the approval of Hemoxin in the United States as an orphan drug.

         0.4. Ceptor was recently acquired by Xechem to serve as a platform for
the bringing to market of Myodur and related compounds, designed to combat
muscular dystrophy and related diseases. At present Xechem lacks the resources
to fully fund the development and regulatory approval of the Ceptor technology.
The parties acknowledge that there can be no assurances that any future
financing will be available to either Ceptor or Xechem, but that the
transactions outlined below provide a basis which they believe will maximize
shareholder return by enhancing the prospects of the technologies owned by
Xechem and Ceptor, respectively.

         0.5. The Board of Directors of Xechem, with WP abstaining, has
determined in its good faith belief that it is in the best interests of Xechem's
shareholders to effect the spin out referenced below, by providing an
independent platform for Ceptor to enable it to obtain financing. Such financing
is anticipated to enable Ceptor to further its technology and provide additional
cash to Xechem. WP has advised the Board of his willingness to continue as an
officer of Xechem, however is willing to enter into this Agreement at the
request of the Board to accommodate the goals referenced above.

<PAGE>

         NOW, THEREFORE, in consideration of the premises and covenants
contained herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows:

         1.0 RECITALS. The recitals set forth above are incorporated by
reference herein and made a part hereof as if fully rewritten.

         2.0 EMPLOYMENT AGREEMENT. Effective as of the Effective Date, the
employment of WP by Xechem has been terminated. WP acknowledges, that all
obligations of Xechem with respect to his employment by Xechem have been
satisfied in full, save for the obligation to reimburse for any outstanding
reimbursable expenses for which expense reports (submitted consistent with the
expense reimbursement policy of Xechem) have not yet been fully submitted or
processed. WP's employment shall be subject to the terms of the Ceptor
Employment Agreement attached hereto as EXHIBIT A and made a part hereof. The
parties further acknowledge that on the Effective Date, each of Fran Zbikowski
("FZ") and Don Fallon ("DF") shall no longer serve as officers or employees of
Xechem and are now employees of Ceptor, subject to employment terms
substantially similar to those with respect to Xechem. Xechem has not granted
any options to acquire Xechem stock in favor of either FZ or DF. In
contemplation of the foregoing, Xechem has funded $125,000 to Ceptor on March 1,
2004, the proceeds of which have been applied to fund payroll and other
operating expenses of Ceptor.

         3.0 BOARD AND OFFICER. WP hereby resigns from the Board of Directors
and Vice Chairman of the Board of Directors of Xechem and resigns as President
and Chief Operating Officer of Xechem. The parties acknowledge and agree that
(i) the Board of Directors of Ceptor is hereby comprised of WP, Len Mudry and
Stephen Burg, and (ii) WP is the CEO and Chairman of Ceptor.

         4.0 WP OPTIONS. The WP Options are hereby amended and restated in their
entirety as set forth in the form of Option Agreement to be attached hereto as
EXHIBIT B, whereby effective as of the date hereof WP shall hold a five (5) year
option to purchase 43,000,000 shares of the $0.00001 par value common stock of
Xechem ("Xechem Common Stock") at $0.0025 per share, with no antidilution rights
(subject to customary adjustment for stock splits, reverse splits and the like).

         5.0 COMPOSITION OF CEPTOR. Promptly following the execution hereof, and
in no event later than the closing date scheduled for the "Ceptor Bridge Loan"
(defined below), Xechem shall cause the following actions to be taken by Ceptor,
which undertakings are conditions precedent to the undertakings set forth above.

             (a) STOCK OWNERSHIP. Ceptor shall amend its certificate of
incorporation to authorize the issuance of up to 20,000,000 shares of $0.00001
par value common stock and 2,000,000 shares of $0.00001 par value blank check
preferred stock. Ceptor shall declare a stock dividend or stock split so that
there shall be 1,406,250 shares of issued and outstanding common stock of Ceptor
held by Xechem. Xechem represents and warrants that there are no other shares of
capital stock of Ceptor issued and outstanding. Ceptor agrees to issue to WP and
his designees (collectively, the "WP Group") immediately upon demand fully
vested ten (10) year options ("WP Group Options") to purchase in the aggregate
1,093,750 shares of common stock of Ceptor at par value (the "WP Group Option").
The Ceptor Group Options of the WP Group shall be held pursuant to the form of
Ceptor Option Agreement to be attached after the date

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<PAGE>

hereof as EXHIBIT C (the "Ceptor Options"). All of Xechem's rights and
obligations with respect to Ceptor shares shall be equitably adjusted up or down
to account for any stock split, reserve split or other damage in corporate
structure of Ceptor. The share amounts and Put price may be adjusted ratably
(preserving the economics contemplated herein) up or down should WP elect a
different share count.

             (b) PUT OF SHARES; BRIDGE LOAN. Xechem agrees to sell to Ceptor and
Ceptor agrees to buy from Xechem 625,000 of the Ceptor shares owned by Xechem
(the "Put") in consideration for (i) $3.20 per share (I.E., $2,000,000 in the
aggregate--the "Put Amount"), plus (ii) a royalty to Xechem from Ceptor, deemed
fully earned and payable upon execution of this Agreement, equal to two percent
(2%) of the gross revenues received by Ceptor, its subsidiaries, affiliates and
assigns with respect to the sale of any products incorporating any of the
technology currently owned by Ceptor (the "Ceptor IP") or the licensing of any
of the Ceptor IP (or the sale of the licensing rights to any of the Ceptor IP or
any of the Ceptor IP); the parties shall execute a license agreement containing
terms further delineating the foregoing and containing customary terms and
conditions. The Put shall be deemed automatically exercised as to the applicable
number of shares (based upon a Put price of $3.20 per share) each time Ceptor
receives a new funding based upon twenty-five percent (25%) of the gross amount
of each funding to Ceptor until the full Put is exercised in full (I.E., upon
the sale of all 625,000 shares), any unsold Ceptor shares subject to the Put on
the second anniversary of this Agreement will be sold to Ceptor and Ceptor shall
purchase them at $3.20 per share. Any unpaid obligation of Ceptor to pay for the
Put shares shall accrue interest at eight percent per annum, compounded
semiannually (the "Interest Rate"); provided, further, if any of the payments
required hereunder are not paid within 10 days following their due date, then
Xechem shall have the right to sell all remaining shares subject to its Put
rights immediately to Ceptor and the full unpaid portion of any such amount
shall become due and payable to Xechem and all indebtedness evidenced thereby
shall bear interest at the Interest Rate.

             It is contemplated that Ceptor shall obtain a bridge loan for not
less than $250,000 nor more than $1,000,000 which shall be for a term of six
months, bearing interest at eight percent (8%) per annum, which will be
repayable from the proceeds of the first financing of $1,000,000 or more to
Ceptor. It is contemplated that the lender will further require that they will
receive warrants to purchase stock of Ceptor (the "Equity Rider") and Xechem
consents to the Equity Rider that Ceptor may issue for such loan. In addition,
it is anticipated that in order to induce the lender to provide such financing,
should Ceptor default on the aforesaid loan, the lender shall be granted the
right by Xechem to put the unpaid principal plus interest owing on such loan as
of the date of its maturity (the "Measurement Date") to Xechem in consideration
for the issuance of Xechem common stock at the lesser of seven cents ($0.07) per
share or seventy-five percent (75%) (rounded to the nearest tenth of a cent) of
the average closing price of Xechem's common stock (as quoted on the OTC
Bulletin Board) for the ten trading days immediately preceding the Measurement
Date. The put shall be exercisable for a period of 30 days following the
Measurement Date. The loan referenced above is referred to as the "Ceptor Bridge
Loan"; its actual terms may vary from those set forth above, provided that (i)
Xechem will not be obligated to grant conversion rights at greater than a
twenty-five percent (25%) discount, and (ii) the parties agree to cooperate
fully in trying to effect the funding of the same and in attempting to attract
additional funding to Ceptor. The Ceptor Bridge Loan lender may require the
right to designate one or more members of the Ceptor board of directors as a
condition to funding its loan.

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<PAGE>

             (c) EQUITY INVESTMENT. The parties acknowledge that it is expected
that Ceptor will be funded by equity investment from one or more third-party
investors in an amount of not less than $2,000,000, which will be dilutive of
the ownership interests of the WP Group and Xechem in a proportionate basis, and
which may be issued in the form of a convertible preferred stock, with rights
superior to the common stock including the right to designate a majority of the
Ceptor board of directors, either pursuant to a certificate of designation for
said shares or by contract.

             (d) APPROVAL; FUNDING. Xechem agrees to take all steps reasonably
necessary to facilitate the effecting of the Ceptor Bridge Loan and additional
investment referenced above, including the taking of all corporate action to
effect the same.

             (e) CAPITAL FUNDRAISING. Xechem agrees to provide $125,000 of
capital contributions to Ceptor (for no additional shares) on or before April 1,
2004. In addition, to the extent that Xechem is funded within the loan fundings
from Marjorie Chassman ("MC") pursuant to her existing loan agreement with
Xechem with respect to the loan obligation with respect to: (i) May, 2004, then
Xechem will provide an additional $125,000 of capital to Ceptor; and (ii) with
respect to June, 2004, then Xechem will provide an additional $125,000 of
capital to Ceptor. Should MC default with respect to her loan funding
obligations, then the aforesaid funding obligations of Xechem shall cease. Any
direct funding by MC to Ceptor to cover the April 1, 2004 obligation will be
credited dollar-for-dollar as if it were loaned to Xechem by MC and contributed
by Xechem to Ceptor to cover such obligation.

             (f) NONDISPARAGEMENT, COORDINATION, RELEASE. Each of the parties
hereto agrees to not disparage any of the other parties hereto and further
agrees to use its or his best efforts to consummate the transactions
contemplated herein. Effective as of the date hereof, except for the obligations
hereunder or contemplated herein or pursuant to any written contract between WP
and Xechem: (i) Xechem hereby releases WP from any and all claims, liabilities,
obligations and lawsuits known or unknown from the beginning of time to the date
hereof; and (ii) WP hereby releases Xechem and each of its officers and
directors from any and all claims, liabilities, obligations and lawsuits known
or unknown from the beginning of time to the date hereof.

             (g) REGISTRATION RIGHTS. The parties agree that Xechem shall have
piggyback registration rights to register its Ceptor shares in any registration
statement that Ceptor may issue, but agrees to abide by a lockup on the sale of
any Ceptor shares on the open market for a period of 180 days following the
initial public registration of any Ceptor shares and as to fifty percent of
Ceptor shares owned by Xechem for the next 180 days.

            (h) TAX INDEMNITY. The parties acknowledge that Xechem's acquisition
of Ceptor and the subsequent financing of Ceptor as contemplated hereunder have
been structured as tax-free transactions (collectively, the "Transactions") with
respect to Leo Kesner and Alfred Stracher (the "Founders") and the other former
Ceptor shareholders. Xechem agrees that notwithstanding the foregoing, it agrees
to indemnify and hold harmless each of the Founders from any federal income tax
liability they might incur ("Tax Liabilities") should the Transactions result in
Tax Liabilities to them, provided that: (i) each Founder agrees as a condition
to acceptance of any Tax Liabilities payment to refund to the Company all Tax
Liabilities payments received by them upon ultimate disposition of the Xechem
shares received by them (or of the resultant common stock in the event of
conversion into common stock in connection

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<PAGE>

with the merger of Ceptor with a wholly-owned subsidiary of Xechem) and prorated
for partial disposition; and (ii) if no Tax Liability is triggered until
disposition of the Founder's shares in question, then no Tax Liability payment
will be made to such Founder.

         6.0 MISCELLANEOUS.

             (a) ENTIRE AGREEMENT. This Agreement sets forth the entire
agreement and understanding of the parties relating to the subject matter
contained herein and merge all prior discussions, correspondence, agreements,
promises, commitments, contracts or other instruments or understandings between
them, and no party shall be bound by any subsequent instrument, agreement or
representation pertaining to the subject matter contained herein unless
expressed in writing and signed by the parties hereto.

             (b) COUNTERPARTS. This Agreement may be executed in two or more
counterparts, each shall have the same force and effect as the other, as one and
the same instrument.

             (c) GOVERNING LAW. This Agreement shall be governed by laws of the
State of Delaware. Any action to enforce this Agreement shall be litigated in
the state or federal courts situated in or closest to New Brunswick, New Jersey,
to which jurisdiction and venue all parties consent. All parties waive their
right to trial by jury with respect to any matter to be litigated regarding this
Agreement.

             (d) BINDING AGREEMENT. The parties hereto warrant that they have
read this Agreement, that they intend to be legally bound by the same, that they
have entered into this Agreement freely and voluntarily, and that they have the
full right, power, authority and capacity to enter into and execute the same.
The parties hereto further warrant that this Agreement is entered into with no
party relying upon any statement or representation made by any other party not
expressly embodied in this Agreement.

             (e) ATTORNEYS' FEES. In any claim arising out of or relating to
this Agreement, the prevailing party shall recover his or its reasonable costs
and attorneys' fees.

             (f) NOTICES. All notices, requests and other communications
hereunder shall be in writing and shall be deemed to be duly given if delivered
or mailed by prepaid mail addressed to:

IF TO WP OR CEPTOR, TO:                 WITH A COPY TO:
William Pursley                         Olshan Grundman Frome Rosenzweig
1138 Corbett Road                         & Wolosky LLP
Monkton, MD  21111                      Park Avenue Tower
Facsimile:  410-472-4145                65 East 55th Street
E-Mail:  WPursley3@aol.com              New York, NY  10022
                                        Attention: Harvey J. Kesner, Esq.
                                        Facsimile: 212-451-2222
                                        E-Mail:  HJK@ogfrlaw.com

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<PAGE>

IF TO THE COMPANY, TO:                   WITH A COPY TO:
Xechem International, Inc.               Shefsky & Froelich Ltd.
100 Jersey Avenue, Building B,           444 North Michigan Avenue
Suite 310                                - Suite 2500
New Brunswick, NJ  08901-3279            Chicago, IL  60611
Attention:  Ramesh C. Pandey, Ph.D.      Attention:  Mitchell D. Goldsmith, Esq.
Facsimile:  732-247-4090                 Facsimile:  312-527-3194
E-Mail:  ramesh@xechem.com               E-Mail:  mgoldsmith@shefskylaw.com

or such other address as the addressee may direct in writing.

             (g) CAPTIONS. The captions applied to the sections of this
Agreement are for convenience only and shall not affect their meaning or
construction.

             (h) WAIVER. The failure of either party to insist in any instance
or performance of any term of this Agreement shall not be construed as a waiver
of future performance of any such term.

             (i) SEVERABILITY. If any portion of this Agreement is held invalid
or unenforceable, the remainder thereof shall remain in full force and effect,
and if the invalidity or unenforceability is due to the unreasonableness of time
or geographical restrictions, such covenants and restrictions shall be effective
for such period of time and for such areas as may be determined to be reasonable
by a court of competent jurisdiction.

         IN WITNESS WHEREOF, the parties have caused this Agreement to be
executed as of the date first set forth above.

XECHEM INTERNATIONAL, INC.                CEPTOR CORPORATION

By:                                       By:
       ---------------------------               -------------------------------

Its:                                      Its:
       ---------------------------               -------------------------------

                                          --------------------------------------
                                          WILLIAM PURSLEY, IndividuallyEXHIBIT 10.34

                              EMPLOYMENT AGREEMENT

         THIS EMPLOYMENT AGREEMENT is made and entered into as of this 31st day
of March, 2004, by and between CEPTOR CORPORATION, a Delaware corporation with
offices at 200 International Circle, Suite 5100, Hunt Valley, Maryland 21030
(the "Corporation"), and WILLIAM PURSLEY, an individual residing at 1138 Corbett
Road, Monkton, Maryland 21111 (the "Executive"), under the following
circumstances:

                                    RECITALS:

         A. The Corporation desires to secure the services of the Executive upon
the terms and conditions hereinafter set forth; and

         B. The Executive desires to render services to the Corporation upon the
terms and conditions hereinafter set forth.

         NOW, THEREFORE, the parties mutually agree as follows:

         Section 1. EMPLOYMENT. The Corporation hereby employs the Executive and
the Executive hereby accepts employment as an executive of the Corporation,
subject to the terms and conditions set forth in this Agreement.

         Section 2. DUTIES. The Executive shall serve as the President and Chief
Executive Operating Officer of the Corporation with such duties,
responsibilities and authority as are commensurate and consistent with his
position, as may be, from time to time, assigned to him by the Board of
Directors of the Company. The Executive shall report directly to the Board of
Directors of the Corporation. During the term of this Agreement, the Executive
shall devote his full business time and efforts to the performance of his duties
hereunder unless otherwise authorized by the Board of Directors. Notwithstanding
the foregoing, the expenditure of reasonable amounts of time by the Executive
for the making of passive personal investments, the conduct of private business
affairs and charitable and professional activities shall be allowed, provided
such activities do not materially interfere with the services required to be
rendered to the Corporation hereunder and do not violate the restrictive
covenants set forth in SECTION 9 below.

         Section 3. TERM OF EMPLOYMENT. The term of the Executive's employment
hereunder, unless sooner terminated as provided herein (the "Initial Term"),
shall be for a period of two (2) years commencing on the date hereof (the
"Commencement Date"). The term of this Agreement shall automatically be extended
for additional terms of one year each (each a "Renewal Term") unless either
party gives prior written notice of non-renewal to the other party no later than
sixty (60) days prior to the expiration of the Initial Term ("Non-Renewal
Notice"), or the then current Renewal Term, as the case may be. For purposes of
this Agreement, the Initial Term and any Renewal Term are hereinafter
collectively referred to as the "Term."

<PAGE>

         Section 4. COMPENSATION OF EXECUTIVE.

         4.1 BASE SALARY. The Corporation shall pay the Executive as
compensation for his services hereunder, in equal semi-monthly or bi-weekly
installments during the Term, the sum of Three Hundred Thirty Thousand
($330,000) Dollars per annum (the "Base Salary"), less such deductions as shall
be required to be withheld by applicable law and regulations. The Corporation
shall review the Base Salary on an annual basis and has the right but not the
obligation to increase it, but has no right to decrease the Base Salary.

         4.2 DISCRETIONARY BONUS. In addition to the Base Salary set forth in
SECTION 4.1 above, the Executive shall be entitled to such bonus compensation
(in cash, capital stock or other property) as a majority of the members of the
Board of Directors of the Corporation may determine from time to time in their
sole discretion.

         4.3 EXPENSES. The Corporation shall pay or reimburse the Executive for
all reasonable out-of-pocket expenses actually incurred or paid by the Executive
in the course of his employment, consistent with the Company's policy for
reimbursement of expenses from time to time.

         4.4 BENEFITS. The Executive shall be entitled to participate in such
pension, profit sharing, group insurance, hospitalization, and group health and
benefit plans and all other benefits and plans as the Corporation provides to
its senior executives (the "Benefit Plans").

         Section 5. TERMINATION.

         5.1 EVENTS OF TERMINATION. This Agreement and the Executive's
employment hereunder shall terminate upon the happening of any of the following
events:

         (a)      upon the Executive's death;

         (b)      upon the Executive's "Total Disability" (as herein defined);

         (c)      upon the expiration of the Initial Term of this Agreement or
                  any Renewal Term thereof, if either party has provided a
                  timely notice of non-renewal in accordance with SECTION 3,
                  above;

         (d)      at the Corporation's option, upon sixty (60) days prior
                  written notice to the Executive if without cause;

         (e)      at the Executive's option, upon thirty (30) days prior written
                  notice to the Corporation;

         (f)      at the Executive's option, in the event of an act by the
                  Corporation, defined in SECTION 5.3, below, as constituting
                  "Good Reason" for termination by the Executive; and

         (g)      at the Corporation's option, in the event of an act by the
                  Executive, defined in SECTION 5.4, below, as constituting
                  "Cause" for termination by the Corporation.

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         5.2 TOTAL DISABILITY. For purposes of this Agreement, the Executive
shall be deemed to be suffering from a "Total Disability" if the Executive has
failed to perform his regular and customary duties to the Corporation for a
period of 180 days out of any 360-day period and if before the Executive has
become "Rehabilitated" (as herein defined) a majority of the members of the
Board of Directors of the Corporation, exclusive of the Executive, vote to
determine that the Executive is mentally or physically incapable or unable to
continue to perform such regular and customary duties of employment. As used
herein, the term "Rehabilitated" shall mean such time as the Executive is
willing, able and commences to devote his time and energies to the affairs of
the Corporation to the extent and in the manner that he did so prior to his
Disability.

         5.3 GOOD REASON. For purposes of this Agreement, the term "Good Reason"
shall mean that the Executive has resigned due to the failure of the Corporation
to meet any of its obligations to the Executive hereunder, and failure to cure
the same within thirty (30) days following Executive's delivery of notice
specifying the breach(es) by the Corporation which failures by the Corporation
include: (i) failure to permit the Executive to exercise authority with respect
to the matters delegated to the Executive under EXHIBIT A hereto; or (ii) the
Corporation has failed to meet any of its obligations to the Executive under
this or any other agreement between the Corporation and the Executive.

         5.4 CAUSE. For purposes of this Agreement, the term "Cause" shall mean
material, gross and willful misconduct on the part of the Executive in
connection with his employment duties hereunder or commission of a felony or act
of dishonesty resulting in material harm to the Company by the Executive.

         Section 6. EFFECTS OF TERMINATION.

         6.1 DEATH. Upon termination of the Executive's employment pursuant to
SECTION 5.1(A), the Executive's estate or beneficiaries shall be entitled to the
following severance benefits: (i) three (3) months' Base Salary at the then
current rate, payable in a lump sum, less withholding of applicable taxes; and
(ii) continued provision for a period of one (1) year following the Executive's
death of benefits under Benefit Plans extended from time to time by the
Corporation to its senior executives.

         6.2 TOTAL DISABILITY. Upon termination of the Executive's employment
pursuant to SECTION 5.1(B), the Executive shall be entitled to the following
severance benefits: (i) thirty-six (36) months' Base Salary at the then current
rate, to be paid from the date of termination until paid in full in accordance
with the Corporation's usual practices, including the withholding of all
applicable taxes; (ii) continued provision during said thirty-six (36) month
period of the benefits under Benefit Plans extended from time to time by the
Corporation to its senior executives; and (iii) payment on a prorated basis of
any bonus or other payments earned in connection with the Corporation's
then-existing bonus plan in place at the time of termination. The Company may
credit against such amounts any proceeds paid to Executive with respect to any
disability policy maintained for his benefit.

         6.3 EXPIRATION OF TERM. Upon termination of the Executive's employment
pursuant to SECTION 5.1(C), where the Corporation has offered to renew the term
of the Executive's employment for an additional one (1) year period and the
Executive chooses not to continue in

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the employ of the Company, the Executive shall be entitled to receive only the
accrued but unpaid compensation and vacation pay through the date of termination
and any other benefits accrued to him under any Benefit Plans outstanding at
such time. In the event the Corporation tenders Non-Renewal Notice to the
Executive, then the Executive shall be entitled to the same severance benefits
as if the Executive's employment were terminated pursuant to SECTION 5.1(D) or
SECTION 5.1(F); provided, however, if such Non-Renewal Notice was triggered due
to the Corporation's statement that the Executive's employment was terminated
due to SECTION 5.1(E) (for "Cause"), then payment of severance benefits will be
contingent upon a determination as to whether termination was properly for
"Cause."

         6.4 BY CORPORATION WITHOUT CAUSE OR BY EXECUTIVE FOR GOOD REASON. Upon
termination of the Executive's employment pursuant to SECTION 5.1(D) OR (F), the
Executive shall be entitled to the following severance benefits: (i) twelve (12)
months' Base Salary at the then current rate, to be paid upon the date of
termination of employment in monthly installments, less withholding of all
applicable taxes; (ii) continued provision for a period of twelve (12) months
after the date of termination of the benefits under Benefit Plans extended from
time to time by the Corporation to its senior executives; and (iii) payment on a
prorated basis of any bonus or other payments earned in connection with any
bonus plan to which the Executive was a participant as of the date of the
Executive's termination of employment.

         6.5 BY CORPORATION FOR CAUSE OR BY EXECUTIVE WITHOUT GOOD REASON. Upon
termination of the Executive's employment pursuant to SECTION 5.1(E) OR (G), the
Executive shall be entitled to the following severance benefits: (i) accrued and
unpaid Base Salary and vacation pay through the date of termination, less
withholding of applicable taxes; and (ii) continued provision, for a period of
one (1) month after the date of the Executive's termination of employment, of
benefits under Benefit Plans extended to the Executive at the time of
termination.

         6.6 DUTY TO MITIGATE. The Executive shall be obligated to seek other
employment in order to mitigate his damages resulting from his discharge
pursuant to SECTIONS 5.1(D), (E), (F) OR (G), provided that such employment need
not be taken at a level below chief operating officer of a subsequent company.
Any payments required to be made hereunder by the Corporation to the Executive
shall continue to the Executive's beneficiaries in the event of his death until
paid in full.

         Section 7. VACATIONS. The Executive shall be entitled to a vacation of
four (4) weeks per year, during which period his salary shall be paid in full.
The Executive shall take his vacation at such time or times as the Executive and
the Corporation shall determine is mutually convenient. Any vacation not taken
in one (1) year shall not accrue, provided that if vacation is not taken due to
the Corporation's business necessities, up to two (2) weeks' vacation may carry
over to the subsequent year.

         Section 8. DISCLOSURE OF CONFIDENTIAL INFORMATION. The Executive
recognizes, acknowledges and agrees that he has had and will continue to have
access to secret and confidential information regarding the Corporation,
including but not limited to, its products, formulae, patents, sources of
supply, customer dealings, data, know-how and business plans, provided such
information is not in or does not hereafter become part of the public domain, or

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<PAGE>

become known to others through no fault of the Executive. The Executive
acknowledges that such information is of great value to the Corporation, is the
sole property of the Corporation, and has been and will be acquired by him in
confidence. In consideration of the obligations undertaken by the Corporation
herein, the Executive will not, at any time, during or after his employment
hereunder, reveal, divulge or make known to any person, any information acquired
by the Executive during the course of his employment, which is treated as
confidential by the Corporation, and not otherwise in the public domain. The
provisions of this SECTION 8 shall survive the Executive's employment hereunder
except in the event of a termination of this Agreement pursuant to SECTION
5.1(D) OR (F), hereof, or as detailed in the provision above. All references to
the Corporation in SECTION 8 and SECTION 9 hereof shall include any subsidiary
of the Corporation.

         Section 9. COVENANT NOT TO COMPETE.

                  (a) The Executive recognizes that the services to be performed
         by him hereunder are special, unique and extraordinary. The parties
         confirm that it is reasonably necessary for the protection of the
         Corporation that the Executive agree, and accordingly, the Executive
         does hereby agree, that he shall not, directly or indirectly, at any
         time during the "Restricted Period" within the "Restricted Area" (as
         those terms are defined in SECTION 9(E) below):

                           (i) except as provided in SUBSECTION (C) below,
                  engage in the business of acting as an executive of the
                  Corporation engaged in the research, development, production
                  or sale of biotechnology products (including in the areas of
                  muscular dystrophy, sickle cell anemia, and other specific
                  indications) within any of the specific disease indications
                  and/or product categories in which the Corporation has been
                  actively involved during the period of Executive's employment
                  with the Corporation, either on his own behalf or as an
                  officer, director, stockholder, partner, consultant,
                  associate, employee, owner, agent, creditor, independent
                  contractor, or co-venturer of any third party; or

                           (ii) not to solicit to employ or engage, for or on
                  behalf of himself or any third party, any employee or agent of
                  the Corporation.

                  (b) The Executive hereby agrees that he will not, directly or
         indirectly, for or on behalf of himself or any third party, at any time
         during the Term and during the Restricted Period solicit any customers
         of the Corporation with respect to products competitive with products
         then being sold by the Corporation.

                  (c) If any of the restrictions contained in this SECTION 9
         shall be deemed to be unenforceable by reason of the extent, duration
         or geographical scope thereof, or otherwise, then the court making such
         determination shall have the right to reduce such extent, duration,
         geographical scope, or other provisions hereof, and in its reduced form
         this Section shall then be enforceable in the manner contemplated
         hereby.

                  (d) This SECTION 9 shall not be construed to prevent the
         Executive from owning, directly or indirectly, in the aggregate, an
         amount not exceeding five percent

                                       5
<PAGE>

         (5%) of the issued and outstanding voting securities of any class of
         any corporation whose voting capital stock is traded or listed on a
         national securities exchange or in the over-the-counter market.

                  (e) The term "Restricted Period," as used in this SECTION 9,
         shall mean the period of the Executive's actual employment hereunder,
         plus twelve (12) months after the date the Executive is actually no
         longer employed by the Corporation. The term "Restricted Area" as used
         in this SECTION 9 shall mean the continental United States.

                  (f) The provisions of this SECTION 9 shall survive the
         termination of the Executive's employment hereunder and until the end
         of the Restricted Period as provided in SECTION 9(E) hereof except in
         the event that this Agreement is terminated pursuant to SECTION 5.1(D)
         OR (F), hereof, in which case such provisions shall not survive
         termination of this Agreement. In no event shall the terms of SECTION 9
         be enforceable, should the Corporation be in default of any of its
         obligations to the Executive at the time of his termination of
         employment by the Corporation.

                  Section 10. MISCELLANEOUS.

         10.1 INJUNCTIVE RELIEF. The Executive acknowledges that the services to
be rendered by him under the provisions of this Agreement are of a special,
unique and extraordinary character and that it would be difficult or impossible
to replace such services. Accordingly, the Executive agrees that any breach or
threatened breach by him of SECTIONS 8 OR 9 of this Agreement shall entitle the
Corporation, in addition to all other legal remedies available to it, to apply
to any court of competent jurisdiction to seek to enjoin such breach or
threatened breach. The parties understand and intend that each restriction
agreed to by the Executive hereinabove shall be construed as separable and
divisible from every other restriction, that the unenforceability of any
restriction shall not limit the enforceability, in whole or in part, of any
other restriction, and that one or more or all of such restrictions may be
enforced in whole or in part as the circumstances warrant. In the event that any
restriction in this Agreement is more restrictive than permitted by law in the
jurisdiction in which the Corporation seeks enforcement thereof, such
restriction shall be limited to the extent permitted by law. The remedy of
injunctive relief herein set forth shall be in addition to, and not in lieu of,
any other rights or remedies that the Corporation may have at law or in equity.

         10.2 ASSIGNMENTS. Neither the Executive nor the Corporation may assign
or delegate any of their rights or duties under this Agreement without the
express written consent of the other; provided however that the Corporation
shall have the right to delegate its obligation of payment of all sums due to
the Executive hereunder, provided that such delegation shall not relieve the
Corporation of any of its obligations hereunder.

         10.3 ENTIRE AGREEMENT. This Agreement constitutes and embodies the full
and complete understanding and agreement of the parties with respect to the
Executive's employment by the Corporation, supersedes all prior understandings
and agreements, whether oral or written, between the Executive and the
Corporation, and shall not be amended, modified or changed except by an
instrument in writing executed by the party to be charged. The invalidity or
partial invalidity of one or more provisions of

                                       6
<PAGE>

this Agreement shall not invalidate any other provision of this Agreement. No
waiver by either party of any provision or condition to be performed shall be
deemed a waiver of similar or dissimilar provisions or conditions at the same
time or any prior or subsequent time. Executive represents, warrants and agrees
that effective as of the date first set forth above, Executive relinquishes any
right or claim he has to employment by Xechem International, Inc. ("Xechem"),
that all obligations of Xechem to him have been paid in full, and that Xechem
may rely upon the foregoing representative, warranty and agreement as a third
party beneficiary in causing the Corporation to enter into this Agreement.

         10.4 BINDING EFFECT. This Agreement shall inure to the benefit of, be
binding upon and enforceable against, the parties hereto and their respective
successors, heirs, beneficiaries and permitted assigns.

         10.5 HEADINGS. The headings contained in this Agreement are for
convenience of reference only and shall not affect in any way the meaning or
interpretation of this Agreement.

         10.6 NOTICES. All notices, requests, demands and other communications
required or permitted to be given hereunder shall be in writing and shall be
deemed to have been duly given when personally delivered, sent by registered or
certified mail, return receipt requested, postage prepaid, or by private
overnight mail service (e.g. Federal Express) to the party at the address set
forth above or to such other address as either party may hereafter give notice
of in accordance with the provisions hereof. Notices shall be deemed given on
the sooner of the date actually received or the third business day after
sending.

         10.7 GOVERNING LAW. This Agreement shall be governed by and construed
in accordance with the laws of the State of Maryland without giving effect to
such State's conflicts of laws provisions and each of the parties hereto
irrevocably consents to the jurisdiction and venue of the federal and state
courts located in the State of Maryland.

         10.8 COUNTERPARTS. This Agreement may be executed simultaneously in two
or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one of the same instrument. The parties hereto
have executed this Agreement as of the date set forth above.

CORPORATION:                          EXECUTIVE:

CEPTOR CORPORATION

                                      ------------------------------------------
                                      WILLIAM PURSLEY
By:
      ---------------------------
Its:
      ---------------------------

                                       7

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