Document:

Second Amendment to Credit Agreement

 Exhibit 10.1 
 SECOND AMENDMENT TO CREDIT AGREEMENT 
 THIS SECOND AMENDMENT TO
CREDIT AGREEMENT (this “Amendment”) is dated as of October 30, 2012 by and among NATIONAL FINANCIAL PARTNERS CORP. (the “Borrower”); the financial institutions signing below and BANK OF AMERICA,
N.A., as administrative agent for the Lenders party to the Credit Agreement referred to below (in such capacity, together with its successors and assigns in such capacity, the “Administrative Agent”). 

RECITALS 
 A. The Borrower, the financial institutions party thereto and the Administrative Agent are parties to the Credit Agreement dated as of July 8, 2010, as amended by that certain First Amendment to
Credit Agreement dated as of April 28, 2011 (as the same has been and may hereafter be amended, restated or otherwise modified from time to time, the “Credit Agreement”). 

B. The Borrower has requested certain amendments to the Credit Agreement as set forth herein. 

C. The Required Lenders are willing to consent to amend the Credit Agreement on the terms and subject to the conditions set forth herein.

 NOW, THEREFORE, in consideration of the foregoing and the agreements contained herein, the parties hereto agree as
follows: 
 I. DEFINITIONS. Capitalized terms used herein which are defined in the Credit Agreement have the same meanings herein
as assigned to them in the Credit Agreement, except to the extent such meanings are amended hereby. 
 II. AMENDMENTS TO CREDIT
AGREEMENT. Subject to the satisfaction of each of the conditions set forth herein, the Borrower and the Required Lenders agree that the Credit Agreement is hereby amended as follows: 

A. Definitions. 
 1. The definition of “EBITDA” contained in Section 1.1 of the Credit Agreement is hereby restated in its entirety to read as follows: 

“EBITDA”: for any period, Consolidated Net Income for such period plus, without duplication and to
the extent reflected as a charge in the statement of such Consolidated Net Income for such period, the sum of (a) income tax expense, (b) interest expense, amortization or write-off of debt discount and debt issuance costs and commissions,
discounts and other fees and charges associated with Indebtedness (including the Loans), (c) depreciation and amortization expense, (d) amortization of intangibles (including, but not limited to, goodwill) and organization costs,
(e) any non-cash impairment of goodwill and intangible assets up to no greater than $60,000,000 in any four-quarter period and any extraordinary, unusual or non-recurring non-cash expenses or losses (including, without limitation whether or not
otherwise includable as a separate item in the statement of such Consolidated Net Income for such period, non-cash losses on sales of assets outside of the ordinary course of business), (f) any other non-cash charges, (g) out-of-pocket
closing expenses incurred in connection with entering into a Permitted Convertible Note Hedge, but for clarification purposes excluding the 

 
cost itself of any Permitted Convertible Note Hedge, and (h) with respect to the fourth fiscal quarter of 2011 and thereafter, upfront consideration expenses and any impairment expenses
incurred in connection with Permitted Management Contract Buyouts, and minus, to the extent included in the statement of such Consolidated Net Income for such period, the sum of (a) interest income, (b) any extraordinary, unusual or
non-recurring income or gains (including, whether or not otherwise includable as a separate item in the statement of such Consolidated Net Income for such period, gains on the sales of assets outside of the ordinary course of business), (c) any
other non-cash income, and (d) any cash payments made during such period in respect of items described in clause (e) above subsequent to the period in which the relevant non-cash expenses or losses were reflected as a charge in the
statement of Consolidated Net Income, all as determined on a consolidated basis. For the purposes of calculating EBITDA for any period of four consecutive fiscal quarters (each, a “Reference Period”) (i) if at any time during
such Reference Period, the Borrower or any Subsidiary shall have made any Material Disposition, the EBITDA for such Reference Period shall be reduced by an amount equal to the EBITDA (if positive) attributable to the property that is the subject of
such Material Disposition for such Reference Period or increased by an amount equal to the EBITDA (if negative) attributable thereto for such Reference Period and (ii) if during such Reference Period, the Borrower or any Subsidiary shall have
made a Material Acquisition or shall have consummated a Material Management Contract Buyout, EBITDA for such Reference Period shall be calculated after giving pro forma effect as if such Material Acquisition or Material Management
Contract Buyout occurred on the first day of such Reference Period. As used in this definition, pro forma effect shall mean the equivalent of the EBITDA of the company or business that is the subject of such Material Acquisition or
Material Management Contract Buyout after giving effect to any adjustments thereto in accordance with Regulation S-X and the impact of the Management Agreement in respect thereof. As used in this definition, “Material Disposition”
means any Disposition of property or series of related Dispositions of property that yields gross proceeds to the Borrower or any of its Subsidiaries in excess of $5,000,000. Further, EBITDA will be calculated (A) at all times without taking
into account income and expenses attributable to ASC 805, and (B) without taking into account the impact of FASB SFAS No. 157 (now known as Financial Accounting Standards Board Accounting Standards Codification (ASC) 820) (“ASC
820”) for non-financial assets and liabilities; with the effect that EBITDA shall be calculated at such times in a manner consistent with the method of calculation prior to the implementation of ASC 805 and ASC 820, as applicable.

 2. The following new definitions of “Material Management Contract Buyout” and “Permitted Management Contract
Buyout” are hereby inserted into Section 1.1 of the Credit Agreement in proper alphabetical order as follows: 
 “Material Management Contract Buyout”: any Permitted Management Contract Buyout that involves the payment of consideration by a Group Member equal to or in excess of $2,500,000.

 “Permitted Management Contract Buyout”: a transaction in which (a) a Group Member purchases a
Manager’s rights under a Management Agreement, or (b) a Group Member purchases the Capital Stock of a Manager, in each case terminating the applicable Management Agreement; provided that (i) any such transaction is made in the ordinary course
of business of such Group Member; (ii) both before and after giving 

  
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effect to such transaction, no Default or Event of Default shall have occurred or be continuing or could reasonably be expected to result therefrom, (iii) the representations and warranties in
Section 4 shall be true and correct in all material respects as of the date of such transaction as if made on and as of such date, (iv) as a result of such transaction, any new Subsidiary shall comply with all applicable provisions of
Section 6.8 and all Capital Stock acquired shall have been pledged to the extent required under Section 6.8, all within the time frames required in Section 6.8; and (v) after giving effect to any such transaction, Minimum
Liquidity shall be not less than $50,000,000. 
 B. Investments. Section 7.7(n) of the Credit Agreement is
hereby restated in its entirety to read as follows: 
 “(n) Permitted Acquisitions and Permitted Management
Contract Buyouts; and” 
 C. No Further Amendments. Except as specifically amended hereby, the text of
the Credit Agreement and of all other Loan Documents shall remain unchanged and in full force and effect. 
 III. REFERENCES IN LOAN
DOCUMENTS; CONFIRMATION OF SECURITY. All references to the “Credit Agreement” in all Loan Documents shall, from and after the date hereof, refer to the Credit Agreement, as amended by this Amendment, and all Obligations
shall be secured by and be entitled to the benefits of the Security Documents. All Security Documents heretofore executed by any Loan Party shall remain in full force and effect and, by each Loan Party’s signature hereto, such Security
Documents are hereby ratified and affirmed. 
 IV. REPRESENTATIONS, WARRANTIES AND COVENANTS. The Borrower hereby represents and
warrants to, and covenants and agrees with, the Administrative Agent and the Lenders that: 
 A. The execution and delivery of
this Amendment and the Loan Documents to which any Loan Party is a party have been duly authorized by all requisite action on the part of such Loan Party. 
 B. The representations and warranties of the Loan Parties contained in the Credit Agreement and the other Loan Documents are true and correct in all material respects on and as of the date of this
Amendment as though made at and as of such date, except to the extent (a) such representations and warranties are made with reference to an earlier date, in which case each such representation and warranty shall be true and correct in all
material respects as of such date only and (b) inaccuracies resulting from transactions prior to the date hereof which were expressly permitted under the Loan Documents, as applicable. 

C. Both before and after giving effect to this Amendment, no Default or Event of Default shall have occurred and be continuing.

 D. As of the Amendment Closing Date (as defined below), no Loan Party has any grounds, and hereby agrees not to challenge (or
to allege or to pursue any matter, cause or claim arising under or with respect to), in any case based upon acts or omissions of the Administrative Agent or any Lender, the effectiveness, genuineness, validity, collectibility or enforceability of
the Credit Agreement or any of the other Loan Documents, the Obligations, the Liens securing any of the Obligations, or any of the terms or conditions of any Loan Document. 

  
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 E. Each of the Loan Documents constitutes the legal, valid and binding obligation of each
Loan Party signatory thereto, enforceable against it in accordance with its respective terms, except as the enforcement may be subject to bankruptcy, insolvency, reorganization, moratorium and similar laws affecting the rights and remedies of
creditors generally or the application of principles of equity, whether in any action at law or proceeding in equity, and subject to the availability of the remedy of specific performance or of any other equitable remedy or relief to enforce any
right thereunder. 
 V. CONDITIONS TO THIS AMENDMENT. The effectiveness of this Amendment is conditioned on satisfaction of the
following conditions (the date on which all such conditions are satisfied, the “Amendment Closing Date”): 
 A.
Amendment. The Loan Parties shall have executed and delivered to the Administrative Agent this Amendment and the Consent and Acknowledgement attached hereto, and the Required Lenders shall have executed and delivered to the Administrative
Agent this Amendment. 
 B. Other Matters. All legal matters incident to the transactions hereby contemplated shall be
reasonably satisfactory to the Administrative Agent’s counsel. 
 C. Fees. The Borrower shall have paid all fees
agreed to be paid by the Borrower pursuant to Section VI below. 
 VI. MISCELLANEOUS. 

A. To induce the Required Lenders to execute and deliver this Amendment, the Borrower agrees to pay, on the date on which the conditions
precedent set forth in Article V of this Amendment are satisfied, to the Administrative Agent for the ratable benefit of the Lenders who sign this Amendment on or prior to 5:00 p.m. Eastern Time on such date, an amendment fee equal to 0.05% of the
Commitment of each such consenting Lender. As provided in the Credit Agreement, the Borrower agrees to reimburse the Administrative Agent upon demand for all reasonable fees and disbursements of counsel to the Administrative Agent incurred in
connection with the preparation of this Amendment and the other documents executed in connection herewith. 
 B. THIS
AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 C. This Amendment may
be executed by the parties hereto in several counterparts hereof and by the different parties hereto on separate counterparts hereof, all of which counterparts shall together constitute one and the same agreement. Delivery of an executed signature
page of this Amendment by facsimile transmission shall be effective as an in-hand delivery of an original executed counterpart hereof. 
 [The next pages are the signature pages.] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed
as a sealed instrument by their duly authorized representatives, all as of the day and year first above written. 
  

			
	NATIONAL FINANCIAL PARTNERS CORP.
		
	By:	 	 /s/ Donna J. Blank

		 	Name: Donna J. Blank
		 	 Title: Executive Vice President and Chief Financial Officer
  

	
	BANK OF AMERICA, N.A., as Administrative Agent
		
	By:	 	 /s/ Charlene Wright-Jones

		 	Name: Charlene Wright-Jones
		 	 Title: Vice President

 

	
	BANK OF AMERICA, N.A., as a Lender
		
	By:	 	 /s/ Jana L. Baker

		 	Name: Jana L. Baker
		 	 Title: Vice President

 

	
	BANK OF AMERICA, N.A., as Issuing Lender
		
	By:	 	 /s/ Jana L. Baker

		 	Name: Jana L. Baker
		 	 Title: Vice President

 

	
	BANK OF AMERICA, N.A., as Swingline Lender
		
	By:	 	 /s/ Jana L. Baker

		 	Name: Jana L. Baker
		 	Title: Vice President

  
 [Signature
Page to Second Amendment to Credit Agreement] 

			
	WELLS FARGO BANK NATIONAL
ASSOCIATION a/k/a Wells Fargo Bank, N.A., as
Syndication Agent
		
	By:	 	 /s/ William DeMilt

		 	Name: William DeMilt
		 	Title: Senior Vice President
	
	WELLS FARGO BANK NATIONAL
ASSOCIATION a/k/a Wells Fargo Bank, N.A., as a Lender
		
	By:	 	 /s/ William DeMilt

		 	Name: William DeMilt
		 	Title: Senior Vice President
	
	WELLS FARGO PRINCIPAL LENDING LLC, as a Lender
		
	By:	 	 /s/ Dennis Ascher

		 	Name: Dennis Ascher
		 	Title: Senior VP

  
 [Signature
Page to Second Amendment to Credit Agreement] 

			
	ING CAPITAL LLC, as Co-Documentation Agent
		
	By:	 	 /s/ Charles Inkeles

		 	Name: Charles Inkeles
		 	Title: Managing Director
	
	ING CAPITAL LLC, as a Lender
		
	By:	 	 /s/ Charles Inkeles

		 	Name: Charles Inkeles
		 	Title: Managing Director

  
 [Signature
Page to Second Amendment to Credit Agreement] 

			
	RBS CITIZENS, NATIONAL ASSOCIATION, as
Co-Documentation Agent
		
	 By:
	 	 /s/ Barrett D. Bencivenga

		 	 Name: Barrett D. Bencivenga

		 	 Title: Senior Vice President

	
	 RBS CITIZENS, NATIONAL ASSOCIATION, as a

Lender

		
	 By:
	 	 /s/ Ramez Gobrain

		 	 Name: Ramez Gobrain

		 	 Title: Senior Vice President

  
 [Signature
Page to Second Amendment to Credit Agreement] 

			
	 US BANK NATIONAL ASSOCIATION, as Co-
 Documentation Agent

		
	By:	 	 /s/ Patrick McGraw

		 	Name: Patrick McGraw
		 	Title: Vice President
	
	US BANK NATIONAL ASSOCIATION, as a Lender
		
	By:	 	 /s/ Patrick McGraw

		 	Name: Patrick McGraw
		 	Title: Vice President

  
 [Signature
Page to Second Amendment to Credit Agreement] 

			
	 CAPITAL ONE NATIONAL ASSOCIATION, as a

Lender

		
	By:	 	 /s/ Anthony J. Timpanaro

		 	Name: Anthony J. Timpanaro
		 	Title: Senior Vice President

  
 [Signature
Page to Second Amendment to Credit Agreement]EX-10.1

 EXHIBIT 10.1 
 July 20, 2012 
 Dear Santosh: 
 ADVENTRX Pharmaceuticals, Inc. (the “Company”) is pleased to offer you full-time employment on the terms and conditions stated in this letter agreement. We would employ you as Chief Medical
Officer and Senior Vice President, reporting to Brian M. Culley, the Company’s Chief Executive Officer. You acknowledge that, in this position, you would become a “Section 16 reporting person,” which means the Company would be
required to disclose certain personal information about you in its filings with the U.S. Securities and Exchange Commission and its other public disclosures, and you agree and consent to the Company’s disclosure of such information. 

Your initial annual base salary would be $350,000, less applicable deductions and withholdings, which would be payable in accordance with our payroll
policies. 
 To help defray relocation and similar expenses, and as an inducement to join the Company, we will make a one-time payment to you of
$100,000, less applicable deductions and withholdings, which would be included in the first payment of base salary to you by the Company and otherwise in accordance with our payroll policies; provided, however, if you voluntarily resign your
employment with the Company prior to September 1, 2014, other than in connection with an Involuntary Termination (as defined below) in which you are entitled to the severance benefits described below, you will reimburse the foregoing payment
within 30 days of such resignation. 
 We would recommend to our Board of Directors (or its Compensation Committee) that you be granted an
incentive stock option (to the maximum extent permitted by law and a nonstatutory stock option with respect to any remaining shares) to purchase 600,000 shares of our common stock under our Amended and Restated 2008 Omnibus Incentive Plan on the
terms and conditions described in the form of Incentive Stock Option Grant Agreement attached hereto as Exhibit A. The exercise price of this option will be the fair market value of our common stock on the grant date of the option which will
be the later of (1) the date our Board of Directors or its Compensation Committee approves the grant of this option; and (2) your starting date with the Company. Your eligibility to receive this option is subject to your executing certain
stock option documentation and, if in the future you are not a “Section 16 reporting person and if requested by the Company,” your accepting E*TRADE Financial Corporate Services, Inc. (or an affiliate) (“E*TRADE”), on such terms
and conditions (including brokerage commissions) as E*TRADE makes available from time to time or that the Company has or may negotiate in the future, as your exclusive broker for all options and other securities that have been or may be granted to
you by the Company from time to time. 
 You will be eligible for an incentive award under the terms and conditions of Company’s 2012
Executive Incentive Plan, the target amount of which will be 35% of base salary earned in calendar year 2012. The terms and conditions of future incentive opportunities will be based on the Company’s future circumstances. 

If your employment with the Company terminates at any time as a result of an Involuntary Termination, and you deliver (and do not revoke) the Release (as
defined below), then you would be entitled to the following severance benefits: 
 (a) An amount payable by the Company to you
equal to nine (9) months (the “Benefit Period”) of your then-current base salary, less applicable withholdings, which amount shall be payable in a lump-sum on the date determined as described below. 

(b) An amount payable by the Company to you equal to the estimated cost of continuing your health care coverage and the coverage of your
dependents who are covered at the time of the Involuntary Termination under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, for a period equal to the Benefit Period, which amount shall be payable in a lump-sum on the date
determined as described below. 

  
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 As a condition of receiving the foregoing benefits, you must execute and not revoke a general release of
claims, which will also confirm any post-termination obligations and/or restrictions applicable to you (the “Release”), such that the Release becomes effective no later than 60 days following the Termination Date (as defined below) (the
“Release Deadline”). Such benefits shall be paid on the date the Release is effective; provided, however, that, in the event your separation occurs at a time during the calendar year where it would be possible for the Release to
become effective in the calendar year following the calendar year in which your separation occurs, any severance that would be considered deferred compensation (as defined in Section 409A of the Internal Revenue Code of 1986, as amended
(“Section 409A”)) will be paid within fifteen (15) days following the Release Deadline. 
 “Termination
Date” shall mean the effective date of your “separation from service” within the meaning of Section 409A (the “Separation from Service”). If upon the Termination Date you are a “specified employee” (as defined
in Section 409A), then solely to the extent necessary to comply with Section 409A and avoid the imposition of taxes under Section 409A, the Company shall defer payment of any deferred compensation (as defined in Section 409A)
which is payable as a result of and within six (6) months following the Separation from Service until the earlier of: (a) the first business day of the seventh month following the Separation from Service, or (b) ten (10) days
after the Company receives written notification of your death. All such delayed payments shall be made without accrual of interest. 
 “Cause” shall mean (i) any act of personal dishonesty by you in connection with your hiring process with the Company that our Board of Directors believes has had or will have a material
detrimental effect on the Company’s reputation or business; (ii) any act of personal dishonesty by you in connection with your responsibilities as an employee which is intended to result in your substantial personal enrichment;
(iii) continued willful violations by you of your obligations to the Company after there has been delivered to you a written demand for performance from the Company that describes the basis for the Company’s belief that you have not
substantially performed your duties; (iv) a willful act by you that constitutes misconduct and is materially injurious to the Company; and (v) your conviction (including any plea of guilty or nolo contendere) of any felony that our Board
of Directors reasonably believes has had or will have a material detrimental effect on the Company’s reputation or business. 
 “Involuntary Termination” shall mean (i) without your express written consent, a material reduction or alteration of your duties, position or responsibilities relative to your duties,
position or responsibilities in effect immediately prior to such reduction or alteration, or your removal from such position, duties or responsibilities; (ii) without your express written consent, a material reduction by the Company of your
base salary as in effect immediately prior to such reduction; (iii) without your express written consent, the relocation of your principal place of employment with the Company by more than fifty (50) miles; (iv) any termination of
your employment by the Company without Cause; and (v) the failure of the Company to obtain the assumption of this letter agreement by any successors as contemplated in the paragraph following this paragraph. Except in the case of a termination
of you by the Company without Cause, an “Involuntary Termination” shall not be deemed to occur until the Company has received written notice from you of the occurrence of an Involuntary Termination and had thirty (30) days after the
Company’s receipt of such notice to cure or remedy such Involuntary Termination (the “Remedy Period”). Any such notice provided by you shall indicate the specific termination provision relied upon, shall set forth in reasonable detail
the facts and circumstances claimed to provide a basis for termination under the provision so indicated, and shall specify the Termination Date. In order to be effective, a resignation for Involuntary Termination must occur within ten
(10) business days after the end of the Remedy Period in which the Company failed to cure or remedy the Involuntary Termination and you must have provided the foregoing written notice of the occurrence of an Involuntary Termination event to the
Company within ninety (90) days of your awareness of the initial existence of the applicable Involuntary Termination event. The items referenced above constitute the exclusive list of the reasons that shall be considered “Involuntary
Termination” for the termination of your employment by you as an Involuntary Termination. 
 Any successor to the Company
(whether direct or indirect and whether by purchase, license, lease, merger, consolidation, liquidation or otherwise) to all or substantially all of the Company’s business and/or assets (including, if warranted under the circumstances, a
subsidiary or parent of such successor) shall assume the Company’s obligations under this letter agreement and agree expressly to perform the Company’s obligations under this letter agreement in the same manner and to the same extent as
the Company would be required to perform such obligations in the absence of a succession. For all purposes under this letter agreement, the term “Company” shall include any successor (or, if warranted, a subsidiary or parent

  
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of such successor) to the Company’s business and/or assets which is required to assume the Company’s obligations as described in this sentence and the preceding sentence or which
becomes bound by the terms of this letter agreement by operation of law. 
 As our employee, you would be entitled to participate in our
employee benefit programs, including our medical, dental, life insurance and 401(k) programs, on the same terms as our other full-time employees. These programs, as well as other employee benefits and policies, are described in further detail in our
Policies and Procedures Manual. We reserve the right to modify or amend at our sole discretion the terms of any and all employee benefit programs from time to time without advance notice to our employees. Notwithstanding our employee vacation policy
set forth in the Policies and Procedures Manual, you would be entitled to 20 vacation days per year, which would accrue in accordance with our general vacation accrual policy, including any maximum accrual limits set forth therein. 

Your employment with us would be “at will” and not for a specified term. We make no express or implied commitment that your employment will
have a minimum or fixed term, that we may take adverse employment action only for cause or that your employment is terminable only for cause. We may terminate your employment with or without cause and with or without advance notice at any time and
for any reason. Any contrary representations or agreements that may have been made to you are superseded by this letter agreement. The at-will nature of your employment described in this letter agreement shall constitute the entire agreement between
you and ADVENTRX concerning the nature and duration of your employment. Although your job duties, title and compensation and benefits may change over time, the at-will nature of your employment with us can only be changed in a written agreement
signed by you and our Chief Executive Officer or President. 
 Our proprietary rights and confidential information are among our most important
assets. In addition to signing this letter agreement, as a condition to your employment you must also sign the Confidential Information, Non-Solicitation and Invention Assignment Agreement for Employees presented to you concurrently herewith (the
“Company Confidentiality Agreement”). As more fully described in the Company Confidentiality Agreement, we require that, in the course of your employment with us, you not use or disclose to us any confidential information, including trade
secrets, of any former employer or other person to whom you have an obligation of confidentiality. Rather, you will be expected to use only that information which is generally known and used by persons with training and experience comparable to your
own, which is common knowledge in the industry or otherwise legally in the public domain, or which is otherwise provided or developed by us. During our discussions about your proposed job duties, you assured us that you would be able to perform
those duties within the guidelines just described. Accordingly, you further agree that you will not bring on to our premises any unpublished documents or property belonging to any former employer or other person to whom you have an obligation of
confidentiality. 
 In addition, as an employee, we require that you comply with all of our policies and procedures, including, without
limitation, our Policies and Procedures Manual, Code of Business Conduct and Ethics and our Insider Trading and Disclosure Policy, copies of which will, at your request, be provided to you prior to your beginning work with us. You may be required to
sign certain documents acknowledging your receipt and understanding of these and other documents. Violation of any or our policies or procedures would be cause for disciplinary action including termination. 

Your employment with us is also conditioned upon your ability to provide adequate documentation of your legal right to work in the United States. If you
make any misrepresentations to us or omit to state a material fact necessary in order to make another statement made not misleading, we may void this letter agreement or, if you are already employed, terminate your employment. 

This letter agreement and documents attached hereto, if any, or referenced herein shall be governed pursuant to the laws of the State of California as
applied to agreements between California residents entered into to be performed entirely within California and constitutes the sole agreement between the Company and you and supersedes all oral negotiations and prior writings with respect to the
subject matter hereof. 
 If any portion of this letter agreement shall, for any reason, be held invalid or unenforceable, or contrary to public
policy or any law, the remainder of this letter agreement shall not be affected by such invalidity or unenforceability, but shall remain in full force and effect, as if the invalid or unenforceable term or portion thereof had not existed within this
letter agreement. 

  
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 We would like you to begin work with us no later than September 5, 2012. 

If you accept and agree with the terms and conditions set forth in this letter agreement, please so indicate by countersigning below and returning to me
a fully executed letter by July 23, 2012. You should keep a copy of this letter agreement for your own records. I look forward to you joining the Company and being an integral and important part of our team. 

Sincerely, 
  

					
	ADVENTRX Pharmaceuticals, Inc.	 		  	ACCEPTED AND AGREED:
			
	 /s/ Brian M. Culley
	 		  	 /s/ Santosh Vetticaden

	Brian M. Culley	 		  	Santosh Vetticaden
	Chief Executive Officer	 		  	

  

							
		 		 	Date:	  	 July 20, 2012

  
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 Exhibit A 
 FORM OF INCENTIVE STOCK OPTION GRANT AGREEMENT 

  
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