Document:

<PAGE>

                                                                    Exhibit 10.2

                              FOURTH AMENDMENT OF

                     AMENDED AND RESTATED CREDIT AGREEMENT

     THIS FOURTH AMENDMENT OF AMENDED AND RESTATED CREDIT AGREEMENT, dated as of
July 31, 2000 (this "Amendment"), is by and among Jefferson Smurfit Corporation
(U.S.), a Delaware corporation (the "Borrower"), Smurfit-Stone Container
Corporation, a Delaware corporation ("SSCC"), JSCE, Inc., a Delaware corporation
("JSCE"), the undersigned financial institutions, including The Chase Manhattan
Bank ("Chase") and Bankers Trust Company ("Bankers Trust"), in their capacities
as lenders (collectively, the "Lenders," and each individually, a "Lender"),
Bankers Trust and Chase, as senior managing agents (in such capacity, the
"Senior Managing Agents"), and Chase, as administrative agent and collateral
agent (in such capacities, the "Administrative Agent" and the "Collateral
Agent," respectively).

                                   RECITALS:

     A.  The Borrower, SSCC, JSCE, the Senior Managing Agents, the
Administrative Agent, the Collateral Agent and the Lenders are parties to that
certain Amended and Restated Credit Agreement dated as of November 18, 1998, as
amended by that certain First Amendment of Amended and Restated Credit
Agreement, that certain Second Amendment of Amended and Restated Credit
Agreement  and that certain Third Amendment of Amended and Restated Credit
Agreement, dated as of June 30, 1999, October 15, 1999 and March 22, 2000,
respectively (the "Credit Agreement").

     B.  The Borrower, SSCC, JSCE, the Senior Managing Agents, the
Administrative Agent, the Collateral Agent and the Lenders desire to amend the
Credit Agreement on the terms and conditions set forth herein.

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

     SECTION 1.  Defined Terms.  Unless otherwise defined herein, all
capitalized terms used herein shall have the meanings given them in the Credit
Agreement.

     SECTION 2.  Amendments to the Credit Agreement.  The Credit Agreement is,
as of the Effective Date (as defined below), hereby amended as follows:

          (a)  Section 1.01 of the Credit Agreement is amended by (i) deleting
     the phrase "27-1/2%" now appearing in the definition of "Change in
     Control", and substituting the following therefor:  "25%"; (ii) deleting
     the "and" appearing at the end of clause (iii) of the definition of
     "Subsidiary", and inserting immediately prior to the period (".") now
     appearing at the end of such definition, the following:  ", and (v) SCC
     Merger Co.", and (iii) adding thereto (in alphabetical order) the following
     defined terms:
<PAGE>

          "SCC Merger Co." shall mean SCC Merger Co., a Delaware corporation
          that is a wholly-owned Subsidiary of SSCC and formed solely to
          consummate the SCC Merger.

          "SCC Merger" shall mean the merger of SCC Merger Co. with and into
          Stone, with Stone as the survivor thereof.

          "SSCC Series A Preferred Stock" shall mean the Series A Cumulative
          Convertible Exchangeable Preferred Stock, par value $.01 per share, of
          SSCC, having terms and conditions, including as to dividends,
          mandatory redemption and liquidation preference, which are no more
          adverse to SSCC than those set forth on Schedule 1.1(h) attached
          hereto when taken as a whole.

          "Stone Series E Preferred Payment" shall mean the cash payment by SSCC
          to the holders of the Stone Series E Preferred Stock in respect of
          dividend arrearages in an aggregate amount not to exceed $30,500,000.

          "Stone Series E Preferred Stock" shall mean the Series E Cumulative
          Convertible Exchangeable Preferred Stock, par value $.01 per share, of
          Stone.

          (b)  Section 7.01 of the Credit Agreement is amended (i) to delete the
     word "and" after clause (r) thereof; (ii) to delete the period (".") now
     appearing at the end of clause (s) and substituting the phrase "; and"
     therefor; and (iii) to insert the following new clause (t) at the end
     thereof:

          "(t)  7% convertible subordinated exchange debentures due 2012 issued
          by SSCC in exchange for its SSCC Series A Preferred Stock, on terms
          and conditions (other than maturity) substantially similar to the
          convertible subordinated exchange debentures issuable by Stone
          pursuant to the terms of its Stone Series E Preferred Stock, or on
          such other terms and conditions reasonably acceptable to the Senior
          Managing Agents."

          (c)  Section 7.04 of the Credit Agreement is amended (i) to delete the
     word "and" after clause (k) thereof; (ii) to delete the period (".") now
     appearing at the end of clause (l) and substituting the phrase "; and"
     therefor; and (iii) to insert the following new clause (m) at the end
     thereof:

          "(m)  additional Investments (x) constituting intercompany loans and
          advances by the Borrower and/or JSCE to JSCE or SSCC, in an amount
          sufficient to make the Stone Series E Preferred Payment, cash payments
          of dividends in respect of the SSCC Series A Preferred Stock and/or
          payments of interest or other mandatory payments under SSCC's 7%
          convertible subordinated exchange debentures issued by SSCC in
          accordance with Section 7.01(t), provided that such intercompany
          Indebtedness is unsecured and shall be evidenced by an Intercompany
          Note, and (y) constituting cash payments by SSCC to the holders of the
          Stone Series E Preferred Stock in an amount equal to the Stone Series
          E Preferred Payment."

                                       2
<PAGE>

          (d)  Section 7.06(b) of the Credit Agreement is amended by deleting
     such Section in its entirety and substituting therefor the following:

               "(b)  Notwithstanding the provisions of Section 7.06(a), (i) the
          Borrower may pay cash dividends (A) on the Borrower Preferred Stock to
          JSCE to be used by JSCE to pay cash dividends on the JSCE Preferred
          Stock and (B) on its common stock to JSCE to be used by JSCE solely to
          pay cash dividends to SSCC in accordance with and for the purpose
          specified in clause (ii) below, if and to the extent permitted by
          applicable law, if, at the time of such payment and immediately after
          giving effect thereto, (x) no Default or Event of Default shall have
          occurred and be continuing and (y) the aggregate amount of such
          dividends, together with the aggregate amount of all other cash
          dividends paid by the Borrower (other than the dividends permitted
          under clauses (v), (vi), (vii) and (viii) below) in the fiscal year in
          which the dividend is proposed to be paid, shall not exceed the least
          of (A) the Borrower's Portion of Excess Cash Flow, (B) 25% of
          Consolidated Net Income for the fiscal year preceding the year in
          which the dividend is proposed to be paid and (C) $22,200,000, (ii)
          JSCE may pay cash dividends (A) on the JSCE Preferred Stock to SSCC
          (or its successors or assigns) out of the proceeds referred to in
          clause (i)(A) above and (B) to SSCC and SSCC may pay like dividends to
          the holders of its Common Stock substantially contemporaneously with
          the payment of and out of the proceeds of the dividends referred to in
          clause (i)(B) above, (iii) the Borrower and JSCE may pay the
          Restatement Date Dividends and SSCC may make the Stone Capital
          Contribution, (iv) Borrower may pay cash dividends to JSCE and JSCE
          may pay like dividends to SSCC solely for the purpose of making
          Additional Stone Capital Contributions in accordance with Section
          7.04(g) if, at the time of such payment and immediately after giving
          effect thereto, no Default or Event of Default shall have occurred and
          be continuing, (v) the Borrower may pay cash dividends to JSCE to be
          used by JSCE solely to pay cash dividends to SSCC to pay the Stone
          Series E Preferred Payment substantially contemporaneously therewith,
          if and to the extent permitted by applicable law, if, at the time of
          such payment and immediately after giving effect thereto, no Default
          or Event of Default shall have occurred and be continuing, (vi) JSCE
          may pay cash dividends to SSCC and SSCC may pay like dividends to the
          holders of the Stone Series E Preferred Stock substantially
          contemporaneously with the payment of and out of the proceeds of the
          dividends referred to in clause (v) above, (vii) the Borrower may pay
          cash dividends to JSCE to be used by JSCE solely to pay cash dividends
          to SSCC to pay cash dividends to the holders of the SSCC Series A
          Preferred Stock and/or make interest or other mandatory payments under
          SSCC's 7% convertible subordinated exchange debentures issued by SSCC
          in accordance with Section 7.01(t), in each case, substantially
          contemporaneously therewith, if and to the extent permitted by
          applicable law, if, at the time of such payment and immediately after
          giving effect thereto, (x) no Default or Event of Default shall have
          occurred and be continuing and (y) the aggregate amount of such
          dividends shall not exceed $10,000,000 in any fiscal year, and (viii)
          JSCE may pay cash dividends to SSCC and SSCC may pay like dividends to
          the holders of its SSCC Series A Preferred Stock substantially
          contemporaneously with the payment of and out of the proceeds of

                                       3
<PAGE>

          the dividends referred to in clause (vii) above. The limitations of
          this Section 7.06 shall not prohibit JSCE or SSCC from paying a
          dividend in accordance with clauses (i), (ii), (v), (vi), (vii) and
          (viii) above within 60 days after declaration thereof if, on the
          declaration date, such dividend could have been paid in compliance
          with this Section 7.06."

          (e)  Section 7.06 of the Credit Agreement is amended by adding at the
     end thereof a new paragraph (f) to read as follows:

          "(f)  Notwithstanding the provisions of Section 7.06(a), SSCC may (i)
          exchange its SSCC Series A Preferred Stock for its 7% convertible
          subordinated exchange debentures due 2012 issued in accordance with
          Section 7.01(t) at an exchange rate of $25.00 principal amount of such
          debentures for each share of SSCC Series A Preferred Stock and (ii)
          convert any shares of its SSCC Series A Preferred Stock into shares of
          Common Stock at the conversion price of $34.97 per share of Common
          Stock, subject to customary anti-dilution adjustments."

          (f)  Section 7.07 of the Credit Agreement is amended to (i) to delete
     the phrase "; and" immediately prior to clause (i) thereof and substitute a
     comma (",") therefor; and (ii) to insert immediately prior to the period
     (".") now appearing at the end of clause (i), the following new clause (j):
     ", and (j) the payment of the Stone Series E Preferred Payment, the
     issuance of the SSCC Series A Preferred Stock and the consummation of the
     SCC Merger".

          (g)  Section 7.10(b) of the Credit Agreement is amended to delete the
     phrase "pursuant to the terms of the Merger Agreement" now appearing in the
     parenthetical therein, and to substitute the following therefor: "(x)
     pursuant to the terms of the Merger Agreement and (y) to authorize the
     issuance of, and set forth the designation of preferences, rights and other
     terms of, the SSCC Series A Preferred Shares".

          (h)  The Credit Agreement is further amended by adding a new Schedule
     1.01(h) thereto in the form of Schedule 1.01(h) attached to this Amendment.

     SECTION 3.  Conditions Precedent to Effectiveness of Amendment. This
Amendment shall become effective upon the date (the "Effective Date") when each
of the following conditions precedent has been satisfied:

          (a)  each of SSCC, JSCE, the Borrower and the requisite number of
     Lenders required pursuant to Section 10.08 and 7.06(d) of the Credit
     Agreement shall have executed and delivered this Amendment; and

          (b)  SNC and JSC Newco shall have executed and delivered the
     Reaffirmation of Guarantee attached hereto.

     SECTION 4.  Representations and Warranties of the Borrower. The Borrower
represents and warrants to the Lenders, the Senior Managing Agents, the
Administrative Agent and the Collateral Agent as follows:

                                       4
<PAGE>

          (a)  The representations and warranties contained in the Credit
     Agreement and the other Loan Documents are true and correct in all material
     respects at and as of the date hereof as though made on and as of the date
     hereof (except to the extent specifically made with regard to a particular
     date).

          (b)  No Default or Event of Default has occurred and is continuing.

          (c)  The execution, delivery and performance of this Amendment have
     been duly authorized by all necessary action on the part of each of the
     Loan Parties signatory hereto, and this Amendment has been duly executed
     and delivered by each such Loan Party and is a legal, valid and binding
     obligation of each such Loan Party enforceable against each such Loan Party
     in accordance with its terms, except as the enforcement thereof may be
     subject to the effect of any applicable bankruptcy, insolvency,
     reorganization, moratorium or similar laws affecting creditors' rights
     generally and general principles of equity (regardless of whether such
     enforcement is sought in a proceeding in equity or at law).

          (d)  The execution, delivery and performance of this Amendment do not
     conflict with or result in a breach by any Loan Party signatory hereto of
     any term of any material contract, loan agreement, indenture or other
     agreement or instrument to which any such Loan Party is a party or is
     subject.

     SECTION 5.  References to and Effect on the Credit Agreement.

          (a)  On and after the Effective Date each reference in the Credit
     Agreement to "this Agreement," "hereunder," "hereof," "herein," or words of
     like import, and each reference to the Credit Agreement in the Loan
     Documents and all other documents (the "Ancillary Documents") delivered in
     connection with the Credit Agreement, shall mean and be a reference to the
     Credit Agreement as amended hereby.

          (b)  Except as specifically amended above, the Credit Agreement, the
     Loan Documents and all other Ancillary Documents shall remain in full force
     and effect and are hereby ratified and confirmed.

          (c)  The execution, delivery and effectiveness of this Amendment shall
     not operate as a waiver of any right, power or remedy of the Lenders, the
     Senior Managing Agents, the Administrative Agent or the Collateral Agent
     under the Credit Agreement, the Loan Documents or the Ancillary Documents.

          (d)  The Loan Parties signatory hereto acknowledge and agree that this
     Amendment constitutes a "Loan Document" for purposes of the Credit
     Agreement.

     SECTION 6.  Execution in Counterparts. This Amendment may be executed in
counterparts, each of which when so executed and delivered shall be deemed to be
an original and all of which taken together shall constitute but one and the
same instrument. This Amendment shall be binding upon the respective parties
hereto on and after the Effective Date upon the execution and delivery of this
Amendment by SSCC, JSCE, the Borrower and the requisite number of Lenders
required pursuant to Section 10.08 and 7.06(d) of the Credit

                                       5
<PAGE>

Agreement regardless of whether it has been executed and delivered by all of the
Lenders. Delivery of an executed counterpart of a signature page of this
Amendment by facsimile transmission shall be effective as delivery of a manually
executed counterpart of this Amendment.

     SECTION 7.  GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND BE
CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK,
INCLUDING, WITHOUT LIMITATION, 5-1401 OF THE GENERAL OBLIGATION LAWS OF NEW
YORK, BUT OTHERWISE WITHOUT REGARD TO THE INTERNAL CONFLICTS OF LAWS PROVISIONS
THEREOF.

     SECTION 8.  Headings. Section headings in this Amendment are included
herein for convenience of reference only and shall not constitute a part of this
Amendment for any other purposes.

     SECTION 9.  Successors and Assigns. This Amendment shall be binding upon
and inure to the benefit of the parties hereto and their respective successors
and assigns.

                           [Signature Pages Follow]

                                       6
<PAGE>

                           REAFFIRMATION OF GUARANTEE

     The undersigned acknowledges the foregoing Amendment with respect to the
Credit Agreement referred to therein, consents to the amendments set forth
therein and hereby reaffirms its obligations under the Guarantee Agreement (as
defined in the Credit Agreement).

Dated as of July 31, 2000

                              SMURFIT NEWSPRINT CORPORATION

                              By:
                                 --------------------------------------
                              Name:
                                   ------------------------------------
                              Title:
                                    -----------------------------------

                              JSC BREWTON, INC.

                              By:
                                 --------------------------------------
                              Name:
                                   ------------------------------------
                              Title:
                                    -----------------------------------

<PAGE>

                     SCHEDULE 1.01(h) to Credit Agreement

                      Smurfit-Stone Container Corporation
                           Series A Preferred Stock

                               Summary of Terms
                               ----------------

Issuer:                    Smurfit-Stone Container Corporation (the "Company").

Type of Security:          Cumulative Convertible Exchangeable Preferred Stock
                           ("Preferred Stock").

Number of Shares Issued:   Approximately 4.6 million shares of Preferred Stock
                           plus a sufficient number of shares of Preferred Stock
                           to permit the payment of dividends in additional
                           shares of Preferred Stock.

Dividends:                 The holders of Preferred Stock shall be entitled to
                           receive, as and if declared by the Board of Directors
                           out of funds legally available therefor, cumulative
                           dividends on the shares of Preferred Stock at the
                           rate per annum equal to 7% of the Liquidation
                           Preference (as defined herein) per share, payable in
                           equal quarterly installments on February 15, May 15,
                           August 15 and November 15 in each year.

                           Dividends on the Preferred Stock shall be payable in
                           cash except to the extent that (a) the aggregate
                           amount of such dividends would exceed (i) 10% of the
                           Company's Net Income for the most recently ended four
                           full fiscal quarters for which internal financial
                           statements are available less (ii) the aggregate
                           amount of any cash dividends paid on the Preferred
                           Stock during such four-quarter period, (b) payment of
                           cash dividends on the Preferred Stock would conflict
                           with, violate, or result in a breach of, any of the
                           credit agreements, indentures or debt instruments of
                           the Company or any of its subsidiaries, or (c) the
                           Board of Directors has made a good faith
                           determination that the Company does not have legally
                           available funds to pay a cash dividend on the
                           Preferred Stock.

                           To the extent not paid in cash, dividends shall be
                           paid in additional shares of Preferred Stock having
                           an aggregate Liquidation Preference equal to the
                           unpaid dividend obligation. If any dividend, or
                           portion thereof, is not timely paid in cash or
                           additional shares of Preferred Stock, then the amount
                           of such unpaid dividends shall automatically accrete
                           to the Liquidation Preference.
<PAGE>

Optional Redemption:       The Preferred Stock is redeemable at the option of
                           the Company, in whole or from time to time in part,
                           at any time, at the following redemption prices per
                           share:

                           If redeemed during the
                           twelve-month period
                           beginning February 15                Price
                           ---------------------                -----

                           2000                                 $25.350
                           2001                                 $25.175
                           2002                                 $25.000

Mandatory Redemption:      The Company shall redeem all outstanding shares of
                           Preferred Stock on February 15, 2012 (the "Mandatory
                           Redemption Date"), at a price per share equal to the
                           Liquidation Preference plus an amount equal to all
                           accrued but unpaid dividends thereon, whether or not
                           declared, to the Mandatory Redemption Date (the
                           "Redemption Price"). The Redemption Price shall be
                           payable at the option of the Company in (a) cash or
                           (b) that number of shares of the Company's common
                           stock (the "Common Stock") with an aggregate Fair
                           Market Value (as defined herein) equal to the
                           Redemption Price.

                           As used herein, "Fair Market Value" shall mean the
                           average of the closing prices of the Common Stock as
                           reported on the Nasdaq National Market ("Nasdaq")
                           during the 30 consecutive trading days preceding the
                           trading day immediately prior to the Mandatory
                           Redemption Date or, if no sale occurred on a trading
                           day, then the mean between the highest bid and lowest
                           asked prices as of the close of business on such
                           trading day, as reported on Nasdaq.

Voting Rights:             The holders of shares of Preferred Stock shall not be
                           entitled to vote on any matter on which the holders
                           of any voting securities of the Company shall be
                           entitled to vote, except as otherwise required by law
                           and except that the form of the indenture relating to
                           the Debentures (as defined herein) may not be amended
                           or supplemented without the affirmative vote or
                           consent of the holders of two-thirds (2/3) of the
                           outstanding shares of Preferred Stock, except for
                           those changes that would not adversely affect the
                           legal rights of the holders.

Liquidation Preference:    In the event of any liquidation or winding up of the
                           Company, the holders of Preferred Stock shall be
                           entitled to receive in preference to the holders of
                           Common Stock (or any other capital stock of the
                           Company ranking junior to the Preferred Stock) an
                           amount per share equal to the Liquidation
<PAGE>

                           Preference, plus an amount equal to all dividends
                           accrued and unpaid on each such share up to the
                           distribution date.

                           As used herein, "Liquidation Preference" shall mean
                           an amount equal to $25.00 plus any amounts that shall
                           accrete to such amount as a result of the nonpayment
                           of any dividend.

Conversion:                Holders of shares of Preferred Stock shall have
                           right, exercisable at any time and from time to time,
                           except in the case of shares of Preferred Stock
                           called for redemption or to be exchanged for
                           Debentures, to convert all or any such shares of
                           Preferred Stock into shares of Common Stock at the
                           conversion price of $34.97 per share of Common Stock,
                           subject to customary anti-dilution adjustments.

Exchange:                  At the Company's option, all, but not less than all,
                           of the Preferred Stock may be exchanged on any
                           dividend payment date for the Company's 7%
                           Convertible Subordinated Exchange Debentures due 2012
                           ("Debentures") at an exchange rate of $25.00
                           principal amount of Debentures for each share of
                           Preferred Stock. With the exception of the maturity
                           date, the Debentures will have essentially the same
                           terms as the debentures of Stone into which the
                           Series E Preferred Stock is currently exchangeable.

Preemptive Rights:         None.<PAGE>   1

                                                                    Exhibit 10.1

                              EMPLOYMENT AGREEMENT

                              ANTEX BIOLOGICS INC.

    THIS EMPLOYMENT AGREEMENT (the "Agreement"), made as of July 31, 2000
is entered into by Antex Biologics Inc., a Delaware corporation with its
principal place of business at 300 Professional Drive, Gaithersburg, Maryland
20879 (the "Company"), and STEPHEN N. KEITH, M.D., residing at 12615 Fawn Run
Court, Ellicott City, Maryland 21042 (the "Employee").

                                   WITNESSETH:

         WHEREAS, the Company desires to employ the Employee, and the Employee
desires to be employed by the Company;

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

         1.       Term of Employment. The Company hereby agrees to employ the
Employee, and the Employee hereby accepts employment with the Company, upon the
terms set forth in this Agreement, for the period commencing on July 31, 2000
(the "Commencement Date") and ending on July 31, 2003 (such period, as it may be
extended, the "Employment Period"), unless sooner terminated in accordance with
the provisions of Section 4 hereof. Upon the third anniversary of the
Commencement Date and upon every third anniversary of the Commencement Date
thereafter, the term of the Employment Period shall be extended automatically
for three (3) additional years unless, at least six months prior to such
anniversary, the Company shall have delivered to the Employee or, at least six
(6) months prior to such anniversary, the Employee shall have delivered to the
Company, written notice that the term of the Employee's employment hereunder
will not be extended.

         2.       Title; Capacity. The Employee shall serve as President and
Chief Operting Officer or in such other position as the Company or its Board of
Directors (the "Board") may determine from time to time. The Employee shall be
based at the Company's headquarters in Gaithersburg, Maryland, or such place or
places in the continental United States as the Board shall determine. The
Employee shall be subject to the supervision of, and shall have such authority
as is delegated to him by, the Board or such officer of the Company as may be
designated by the Board.

         The Employee hereby accepts such employment and agrees to undertake the
duties and responsibilities inherent in such position and such other duties and
responsibilities as the Board or its designee shall from time to time reasonably
assign to him. The Employee agrees

<PAGE>   2

to devote his entire business time, attention and energies to the business and
interests of the Company during the Employment Period. He shall not engage in
any other business activity, except as may be approved by the Company. The
Employee agrees to abide by the rules, regulations, instructions, personnel
practices and policies of the Company and any changes therein which may be
adopted from time to time by the Company. The Employee acknowledges receipt of
copies of all such rules and policies committed to writing as of the date of
this Agreement.

         3.       Compensation and Benefits.

                  3.1      Salary. The Company shall pay the Employee, in
semi-monthly installments on the 15th and month-end or on the last working day
of such month, an annual base salary (the "Annual Base Salary") of Two Hundred
Thousand Dollars ($200,000) for the period commencing on the Commencement Date.
Thereafter, upon each anniversary of the Commencement Date (including the first
anniversary thereof), following an annual review by the Board, the Board may
adjust the Employee's Annual Base Salary as it determines in its sole
discretion; provided, however, that the Board of Directors shall not reduce the
Annual Base Salary.

                  3.2      Fringe Benefits. The Employee shall be entitled to
participate in all bonus, stock option, benefit and insurance programs that the
Company establishes and makes available to its employees, if any, to the extent
that Employee's position, tenure, salary, age, health and other qualifications
make him eligible to participate.

The Employee shall be entitled to twenty (20) days paid vacation per year, to be
taken at such times as may be approved by the Board or its designee.

                  3.3      Reimbursement of Expenses. The Company shall
reimburse the Employee for all reasonable travel, entertainment and other
expenses incurred or paid by the Employee in connection with, or related to, the
performance of his duties, responsibilities or services under this Agreement,
upon presentation by the Employee of documentation, expense statements, vouchers
and/or such other supporting information as the Company may request; provided,
however, that the amount available for such travel, entertainment and other
expenses may be fixed in advance by the Board.

                  3.4      Bonus. The Employer shall, subject to approval of the
Board, pay to the Employee an appropriate bonus (the "Bonus") with respect to
each completed year of employment. The Bonus shall be paid to Employee in one
lump sum on or prior to January 31 of each year for the one-year period of
employment, or portion thereof, ending on the preceding December 31.

         4.       Employment Termination. The employment of the Employee by the
Company pursuant to this Agreement shall terminate upon the occurrence of any of
the following:

                                       2
<PAGE>   3

                  4.1      Expiration of the Employment Period in accordance
with Section 1 hereof and if the term is not extended in accordance with Section
1 hereof, then the provisions of Section 4.4 hereof shall apply;

                  4.2      At the election of the Company, for cause,
immediately upon written notice by the Company to the Employee. For the purposes
of this Section 4.2, cause for termination shall be deemed to exist upon (a) a
good faith finding by the Company of failure of the Employee to perform his
assigned duties for the Company, dishonesty, gross negligence or misconduct, or
(b) the conviction of the Employee of, or the entry of a pleading of guilty or
nolo contendere by the Employee to, any crime involving moral turpitude or any
felony;

                  4.3      Upon the death or ninety (90) days after the
disability of the Employee. As used in this Agreement, the term "disability"
shall mean the inability of the Employee, due to a physical or mental
disability, for a period of ninety (90) days, whether or not consecutive, during
any three hundred sixty (360)-day period to perform the services contemplated
under this Agreement. A determination of disability shall be made by a physician
satisfactory to both the Employee and the Company, provided that if the Employee
and the Company do not agree on a physician, the Employee 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;

                  4.4      At the election of the Company, upon not less than
six (6) months' prior written notice of termination to the Employee. At the
option of the Company and in lieu of such notice, the Company may pay to
Employee in a lump sum payment an amount equal to (i) six (6) months' salary
computed on the basis of the then current Annual Base Salary plus (ii) any bonus
to which Employee is entitled. If the Company elects to pay such amount in lieu
of notice it shall, at the expense of the Company, continue Employee's
participation in all benefits programs including but not limited to medical,
disability and life insurance programs provided by the Company to the Employee
under Section 3.2 hereof on the date on which such amount is paid (the "Payment
Date") until a date six (6) months after the Payment Date. In the event
Employee's termination is related to a "change of control" and occurs within one
(1) year of such change of control the notice or salary in lieu of notice and
participation in the benefits program will be for twelve (12) months. In the
event that Employee commences employment or self-employment during the period
the Company is making payments then the salary payment maybe reduced by the
amount the Employee receives through employment or self-employment and the
benefits will terminate on the date Employee becomes eligible to participate in
the benefits program pursuant to employment or self-employment. The exercise of
stock options and any modifications to the exercise period will be in accordance
with the Company's Amended and Restated Stock Option Plan.

                  4.5      At the election of the Employee, upon not less than
six (6) months prior written notice of termination to the Company.

         5.       Effect of Termination.

                  5.1      Termination for Cause or at Election of Either Party.
In the event the Employee's employment is terminated for cause pursuant to
Section 4.2 hereof, or at the

                                       3
<PAGE>   4

election of the Employee pursuant to Section 4.5 hereof, the Company shall pay
to the Employee the compensation and benefits otherwise payable to him under
Section 3 hereof through the last day of his actual employment by the Company.

                  5.2      Termination for Death or Disability. If the
Employee's employment is terminated by death or because of disability pursuant
to Section 4.3 hereof, the Company shall pay to the estate of the Employee or to
the Employee, as the case may be, the compensation which would otherwise be
payable to the Employee up to the end of the month in which the termination of
his employment because of death or disability occurs.

                  5.3      Survival. The provisions of Sections 6 and 7 hereof
shall survive the termination of this Agreement.

         6.       Non-Competition.

                  (a)      During the Employment Period and for a period of two
(2) years after the termination or expiration thereof, the Employee will not
directly or indirectly:

                           (i)      as an individual proprietor, partner,
    stockholder, officer,employee, director, joint venturer, investor, lender,
    or in any other capacity whatsoever (other than as the holder of not more
    than one percent (1%) of the total outstanding sock of a publicly held
    company), engage in the business of developing, producing, marketing or
    selling products of the kind or type developed or being developed, produced,
    marketed or sold by the Company while the Employee was employed by the
    Company; or

                           (ii)     recruit, solicit, or induce, or attempt to
    induce, any employee or employees of the Company to terminate their
    employment with, or otherwise cease their relationship with, the Company; or

                           (iii)    solicit, divert or take away, or attempt to
    divert or to take away, the business or patronage of any of the clients,
    customers or accounts, or prospective clients, customers or accounts, of the
    Company which were contacted, solicited or served by the Employee while
    employed by the Company.

                  (b)      If any restriction set forth in this Section 6 is
found by any court of competent jurisdiction to be unenforceable because it
extends for too long a period of time or over too great a range of activities or
in too broad a geographic area, it shall be interpreted to extend only over the
maximum period of time, range of activities or geographic area as to which it
may be enforceable.

                  (c)      The restrictions contained in this Section 6 are
necessary for the protection of the business and goodwill of the Company and are
considered by the Employee to be reasonable for such purpose. The Employee
agrees that any breach of this Section 6 will cause the Company substantial and
irrevocable damage and therefore, in the event of any such

                                       4
<PAGE>   5

breach, in addition to such other remedies which may be available, the Company
shall have the right to seek specific performance and injunctive relief.

    7.   Proprietary Information and Development.

                  7.1      Proprietary Information.

                  (a)      Employee agrees that all information and know-how,
whether or not in writing, or a private, secret or confidential nature
concerning the Company's business or financial affairs (collectively,
"Proprietary Information") is and shall be the exclusive property of the
Company. By way of illustration, but not limitation, Proprietary Information may
include inventions, products, processes, methods, techniques, formulas,
compositions, compounds, projects, developments, plans, research data, clinical
data, financial data, personnel data, computer programs, and customer and
supplier lists. Employee will not disclose any Proprietary Information to others
outside the Company or use the same for any unauthorized purposes without
written approval by an officer of the Company, either during or after his
employment, unless and until such Proprietary Information has become public
knowledge without fault by the Employee.

                  (b)      Employee agrees that all files, letters, memoranda,
reports, records, data, sketches, drawings, laboratory notebooks, program
listings, or other written, photographic, or other tangible material containing
Proprietary Information, whether created by the Employee or others, which shall
come into his custody or possession, shall be and are the exclusive property of
the Company to be used by the Employee only in the performance of his duties for
the Company.

                  (c)      Employee agrees that his obligation not to disclose
or use information, know-how and records of the types set forth in paragraphs
(a) and (b) above, also extends to such types of information, know-how, records
and tangible property of customers of the Company or suppliers to the Company or
other third parties who may have disclosed or entrusted the same to the Company
or to the Employee in the course of the Company's business.

                  7.2      Developments.

                  (a)      Employee will make full and prompt disclosure to the
Company of all inventions, improvements, discoveries, methods, developments,
software, and works of authorship, whether patentable or not, which are created,
made, conceived or reduced to practice by the Employee or under his direction or
jointly with others during his employment by the Company, whether or not during
normal working hours or on the premises of the Company (all of which are
collectively referred to in this Agreement as "Developments").

                  (b)      Employee agrees to assign and does hereby assign to
the Company (or any person or entity designated by the Company) all his right,
title and interest in and to all Developments and all related patents, patent
applications, copyrights and copyright applications. However, this Section 7.2
(b) shall not apply to Developments which do not related to the present or
planned business or research and development of the Company and which are made

                                       5
<PAGE>   6

and conceived by the Employee not during normal working hours, not on the
Company's premises and not using the Company's tools, devices, equipment or
Proprietary Information.

                  (c)      Employee agrees to cooperate fully with the Company,
both during and after his employment with the Company, with respect to the
procurement, maintenance and enforcement of copyrights and patents (both in the
United States and foreign countries) relating to Developments. Employee shall
sign all papers, including, without limitation, copyright applications, patent
applications, declarations, oaths, formal assignments, assignment of priority
rights, and powers of attorney, which the Company may deem necessary or
desirable in order to protect its rights and interests in any Development.

                  7.3      Other Agreements. Employee hereby represents that he
is not bound by the terms of any agreement with any previous employer or other
party to refrain from using or disclosing any trade secret or confidential or
proprietary information in the course of his employment with the Company or to
refrain from competing, directly or indirectly, with the business of such
previous employer or any other party. Employee further represents that his
performance of all terms of this Agreement and as an employee of the Company
does not and will not breach any agreement to keep in confidence proprietary
information, knowledge or data acquired by him in confidence or in trust prior
to his employment with the Company.

         8.       Notices. All notices required or permitted under this
Agreement shall be in writing and shall be deemed effective upon personal
delivery or upon deposit in the United States Post Office, by registered or
certified mail, postage prepaid, addressed to the other party at the address
shown above, or at such other address or addresses as either party shall
designate to the other in accordance with this Section 9.

         9.       Pronouns. Whenever the context may require, any pronouns used
in this Agreement shall include the corresponding masculine, feminine or neuter
forms, and the singular forms of nouns and pronouns shall include the plural,
and vice versa.

         10.      Entire Agreement. This Agreement constitutes the entire
agreement between the parties and supersedes all prior agreements and
understandings, whether written or oral, relating to the subject matter of this
Agreement.

         11.      Amendment. This Agreement may be amended or modified only by a
written instrument executed by both the Company and the Employee.

         12.      Governing Law. This Agreement shall be construed, interpreted
and enforced in accordance with the laws of the State of Maryland.

         13.      Successors and Assigns. This Agreement shall be binding upon
and inure to the benefit of both parties and their respective successors and
assigns, including any corporation with which or into which the Company may be
merged to which may succeed to its assets or business, provided, however, that
the obligations of the Employee are personal and shall not be assigned by him.

                                       6
<PAGE>   7

         14.      Miscellaneous.

                  14.1     No delay or omission by the Company in exercising any
right under this Agreement shall operate as a waiver of that or any other right.
A waiver or consent given by the Company on any one occasion shall be effective
only in that instance and shall not be construed as a bar or waiver of any right
on any other occasion.

                  14.2     The captions of the sections of this Agreement are
for convenience of reference only and in no way define, limit of affect the
scope or substance of any section of this Agreement.

                  14.3     In case any provision of this Agreement shall be
invalid, illegal or otherwise unenforceable, the validity, legality and
enforceability of the remaining provisions shall in no way be affected or
impaired thereby.

         IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the day and year set forth above.

                                         ANTEX BIOLOGICS INC.

                                         by    /s/V.M. Esposito
                                             ------------------
                                             V. M. Esposito, Ph.D.
                                             Chairman of the Board of Directors

                                         Employee

                                               /s/Stephen N. Keith
                                             ---------------------
                                             Stephen N. Keith, MD, MSPH

                                       7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00016-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00016-of-00352.parquet"}]]