Document:

EX-10.1

SECOND AMENDMENT TO RIGHTS AGREEMENT

This Second Amendment to Rights Agreement (this “Amendment”) is entered into effective as of
February 25, 2008 (the “Effective Date”) by and between Adventrx Pharmaceuticals, Inc., a Delaware
corporation (the “Company”), and Icahn Partners LP, Icahn Partners Master Fund LP and High River
Limited Partnership (collectively, the “Icahn Purchasers”).

WHEREAS, the Company, the Icahn Purchasers and Viking Global Equities LP and VGE III Portfolio
Ltd. (collectively, the “Viking Purchasers” and, together with the Icahn Purchasers, the
“Purchasers”) are parties to that certain Rights Agreement, with an effective date of July 27,
2005, as amended (the “Rights Agreement”), pursuant to which the Company agreed to set the
authorized number of directors constituting the Company’s board of directors at 6 and to not change
such number, except as set forth in the Rights Agreement;

WHEREAS, pursuant to Section 6.2 of the Rights Agreement, any term of the Rights Agreement may
be amended with the written consent of the Company and the Icahn Purchasers;

NOW, THEREFORE, in consideration of both the foregoing premises and the terms and conditions
set forth below, the Company and the Icahn Purchasers hereby agree as follows:

1. Board of Directors. The first sentence of Section 4 of the Rights Agreement is
hereby amended and restated to read in its entirety as follows:

“Effective promptly after the Closing, the Company shall set the authorized number of Board
directors at six and the Company shall appoint a person suggested by the Purchasers which
at the time own a majority of the Purchased Shares (the “Purchaser Designee”) to the
vacancy so created; provided, however, that such person, if anyone other than Mr.
Carl Icahn, would not subject the Company to making any disclosures under Item 401(f) of
SEC Regulation S-K in any proxy statement (the “Criteria”);  provided, further,
that from time to time the Board may increase the number of authorized Board directors to
seven provided that any vacancy created by such an increase is filled by a majority of the
Board directors then in office, which majority must include the Purchaser Designee, if any;
provided, further, that if at any time there are seven members of the Board and one
of such members is removed, resigns, retires or dies and the Purchaser Designee, if any,
does not approve a successor, the Company agrees to do those things reasonably necessary
and within its control to, as soon as reasonably practicable after the effective date of
such removal, resignation, retirement or death, set the authorized number of Board
directors at six.”

2. Purchaser Designee. The Company and the Purchasers agree that, as of the Effective
Date, the Purchaser Designee (as defined in the Rights Agreement) is Alexander J. Denner.

3. Internal Reference. The Company and the Purchasers agree that any reference in the
Rights Agreement to “this Agreement” (or other similar reference) will be a reference to the Rights
Agreement, as amended.

4. Conflicts. Except to the extent amended herein, the Rights Agreement remains in
full force and effect.

5. Governing Law. This Amendment will be governed by and construed in accordance with
the laws of the State of New York applicable to agreements made and to be fully performed therein.

[Signature page follows]

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IN WITNESS WHEREOF, the Company and the Icahn Purchasers have executed this Second
Amendment to Rights Agreement in duplicate originals effective as of the Effective Date.

	 	 	 
	COMPANY:	 	ADVENTRX PHARMACEUTICALS, INC.
	 	 	By: /s/ Patrick L. Keran
	 	 	Name: Patrick L. Keran
	 	 	Title: Vice President, Legal
	ICAHN PURCHASERS:	 	ICAHN PARTNERS LP
	 	 	By: /s/ [illegible]
	 	 	(Authorized Signatory)
	
 
	 	ICAHN PARTNERS MASTER FUND LP
	
 
	 	By: /s/ [illegible]
	
 
	 	 
	
 
	 	(Authorized Signatory)
	
 
	 	HIGH RIVER LIMITED PARTNERSHIP

By: Hooper Investments LLC, its general partner

By: Barbery Corp, its member

By: /s/ [illegible]

(Authorized Signatory)

2EX-10.1

EXHIBIT 10.1

EIP SHARE UNIT AWARD AGREEMENT

Platinum Underwriters Holdings, Ltd.

Amended and Restated Executive Incentive Plan 

This EIP SHARE UNIT AWARD AGREEMENT (this “Agreement”) made as of this      day of
     , 20     , between Platinum Underwriters Holdings, Ltd., a Bermuda company (the
“Company”), and      (the “Participant”), is made pursuant to the
terms of the Company’s Amended and Restated Executive Incentive Plan (the “Plan”) in
conjunction with the Company’s 2006 Share Incentive Plan or any successor plan (the “Share
Incentive Plan”) and the Company’s Section 162(m) Performance Incentive Plan or any successor plan.

Section 1. Definitions. Capitalized terms used herein but not defined shall
have the meanings set forth in the Plan. For purposes of this Agreement, the terms “Disability”
and “Separation from Service” shall have the meanings attributed to such terms under section 409A
of the Internal Revenue Code and the treasury regulations and other guidance promulgated
thereunder.

Section 2. Share Unit Award. The Company hereby grants to the Participant a
Share Unit Award of      share units (the “Share Units”) in respect of the      
Performance Cycle (the “Performance Cycle”) under the Plan. The Share Units are notional,
non-voting units of measurement based on the Fair Market Value (as defined in the Share Incentive
Plan) of the Common Shares, which will entitle the Participant to receive a payment, subject to the
terms hereof, in Common Shares within thirty (30) days following the Vesting Date (as defined
below).

Section 3. Vesting Requirements. The Share Units shall become fully vested on
the third anniversary of the date hereof (the “Vesting Date”), subject to the Participant’s
continued employment with the Company or any of its subsidiaries through the Vesting Date.

Section 4. Termination of Employment.

(a) General Rule. Subject to the provisions of Section 4(b) hereof, in the event of
the Participant’s termination of employment with the Company or any of its subsidiaries for any
reason prior to the Vesting Date, the Share Units shall be immediately forfeited and automatically
cancelled without further action of the Company.

(b) Exceptions. Notwithstanding the provisions of Section 4(a) hereof, in the event
of the Participant’s termination of employment with the Company or any of its subsidiaries prior to
the Vesting Date (i) by the Company without “Cause” (as defined below), (ii) as a result of death
or Disability, or (iii) upon the Participant’s retirement from the Company with the consent of the
Committee, the Participant shall be entitled to receive a payment in respect of the Share Units on
a prorated basis, based on the period of the Participant’s service with the Company and the
performance levels achieved by the Company for the Performance Cycle as of the end of the fiscal
quarter following the date of termination. For purposes hereof, the term “Cause” shall
mean: (i) the Participant’s willful and continued failure to substantially perform the
Participant’s duties to the Company or any subsidiaries of the Company; (ii) the Participant’s
conviction of, or plea of guilty or nolo contendere to, a felony or other crime involving moral
turpitude; (iii) the Participant’s engagement in any malfeasance or fraud or dishonesty of a
substantial nature in connection with the Participant’s position with the Company or any of its
subsidiaries, or other willful act that materially damages the reputation of the Company or any of
its subsidiaries; (iv) the Participant’s breach of any restrictive covenants agreed to between the
Participant and the Company or any subsidiaries of the Company; or (v) the sale, transfer or
hypothecation by the Participant, prior to the payment in respect of the Award hereunder, of Common
Shares in violation of the Share Ownership Guidelines. Notwithstanding the foregoing, the
Participant’s employment will be treated as having been terminated without Cause under this
Agreement in the event of any termination by the Company or any subsidiary of the Company without
“cause” or by the Participant for “good reason,” as such terms or comparable terms are defined
under any employment agreement in effect from time to time between the Participant and the Company
or any subsidiary of the Company.

Section 5. Payment of Award.

(a) General. Subject to the provisions of Sections 5(c) and 5(d) hereof, payment in
respect of the Award hereunder shall be made in Common Shares as soon as practicable following the
later of the Vesting Date and the date that the Committee shall have approved the financial results
of the Company for the Performance Cycle, provided no payment hereunder may be made following the
later of: (i) the last day in the calendar year in which the Vesting Date occurs, and (ii) the 15th
day of the third month following the Vesting Date. The amount of the payment to be made in respect
of the Award will be determined in accordance with the terms of this Agreement, the Plan and the
payment schedule set forth as Exhibit A hereto, which is based on the degree of the
Company’s achievement of Average Annual ROE (i.e. return on equity) during the Performance
Cycle.

(b) Withholding. The payment in respect of the Share Units shall be made to the
Participant after deduction of applicable withholding taxes in the amount determined by the
Committee, which shall be withheld at the applicable supplemental wage withholding rate, or such
other rate as determined by the Committee, provided that such amount shall not exceed the
Participant’s estimated federal, state and local tax obligation with respect to payment in respect
of the Share Units. In lieu of the foregoing, the Committee may allow the Participant to pay the
applicable withholding taxes to the Company in cash or such other form as approved by the
Committee.

(c) Separation from Service. Notwithstanding the provisions of Section 5(a) hereof,
with respect to a payment pursuant to Section 4(b) hereof (other than a payment as a result of the
death of a Participant), the Participant shall receive such payment on the date that is six (6)
months following a Separation from Service. With respect to a payment pursuant to Section 4(b)
hereof as a result of the death of the Participant, the amount due under Section 4(b) shall be paid
as soon as practicable following such death but in no event following the later of: (i) the last
day in the calendar year in which the death occurs, and (ii) the 15th day of the third month
following such death.

(d) Change in Control. Notwithstanding the provisions of Section 5(a) hereof, upon a
Change in Control of the Company that constitutes a change in ownership or effective control of the
Company (or a change in the ownership of a substantial portion of the Company’s assets), within the
meaning of Section 409A of the Code, the Participant shall receive payment in respect of the Award
hereunder in accordance with the provisions of Section 8 of the Plan. Notwithstanding the
foregoing, the Participant shall in no event receive any such payment following the later of: (i)
the last day in the calendar year in which the Change in Control occurs, and (ii) the
15th day of the third month following the Change in Control.

Section 6. Restrictions on Transfer. No portion of the Share Units may be
sold, assigned, transferred, encumbered, hypothecated or pledged by the Participant, other than to
the Company as a result of forfeiture of the Share Units as provided herein, unless and until the
payment of the Share Units in accordance with Section 5 hereof.

Section 7. Limitation of Rights. The Participant shall not have any
privileges of a shareholder of the Company with respect to the Common Shares payable hereunder,
including without limitation any right to vote such shares or to receive dividends or other
distributions in respect thereof, until the date of the issuance to the Participant of a share
certificate evidencing such Common Shares. Nothing in this Agreement shall confer upon the
Participant any right to continue as an employee of the Company or any subsidiary or to interfere
in any way with any right of the Company to terminate the Participant’s employment at any time.

Section 8. Changes in Capitalization. The Award shall be subject to the
provisions of the Share Incentive Plan relating to adjustments for changes in corporate
capitalization.

Section 9. Notices. Any notice hereunder by the Participant shall be given to
the Company in writing and such notice shall be deemed duly given only upon receipt thereof by the
Secretary of the Company. Any notice hereunder by the Company shall be given to the Participant in
writing and such notice shall be deemed duly given only upon receipt thereof at such address as the
Participant may have on file with the Company.

Section 10. Construction. This Agreement and the Award evidenced hereby are
granted by the Company pursuant to the Plan and the Share Incentive Plan and are in all respects
subject to the terms and conditions of the Plan and the Share Incentive Plan. The Participant
hereby acknowledges that a copy of each of the Plan and the Share Incentive Plan has been delivered
to the Participant and the Participant accepts the Share Units hereunder subject to all terms and
provisions of the Plan and the Share Incentive Plan, which are incorporated herein by reference.
In the event of a conflict or ambiguity between any term or provision contained herein and a term
or provision of the Plan or the Share Incentive Plan, then the Plan or the Share Incentive Plan, as
applicable, shall govern and prevail. The construction of and decisions under the Plan, the Share
Incentive Plan and this Agreement are vested in the Committee, whose determinations shall be final,
conclusive and binding upon the Participant.

Section 11. Governing Law. This Agreement and the Award hereunder shall be
governed by, and construed in accordance with, the laws of the State of New York, excluding the
choice of law rules thereof.

Section 12. Counterparts. This Agreement may be executed in counterparts,
each of which shall be deemed to be an original but all of which together shall constitute one and
the same instrument.

Section 13. Binding Effect. This Agreement shall be binding upon and inure to
the benefit of the legatees, distributees, and personal representatives of the Participant and the
successors of the Company.

Section 14. Entire Agreement. This Agreement and the Plan constitute the
entire agreement between the parties with respect to the subject matter hereof and thereof, merging
any and all prior agreements.

Section 15. Previous Awards. With respect to previous awards (each, a “Previous
Award”) granted to the Participant under the Plan or its predecessor plans under EIP Share Unit
Award Agreements dated      (each, a “Previous Award Agreement”), notwithstanding
anything to the contrary in such Previous Award Agreements, the following provisions shall apply:

(a) The Share Units under a Previous Award Agreement that have not become fully vested shall
become fully vested on the third anniversary of the date of such Previous Award Agreement (the
“Previous Award Vesting Date”), subject to the Participant’s continued employment with the Company
or any of its subsidiaries through such Previous Award Vesting Date.

(b) Except as provided in paragraphs (c) and (d) below, payments in respect of a Previous
Award shall be made in Common Shares as soon as practicable following the later of the Previous
Award Vesting Date and the date that the Committee shall have approved the financial results of the
Company for the applicable Performance Cycle for such Previous Award, provided no payment hereunder
may be made following the later of: (i) the last day in the calendar year in which the applicable
Previous Award Vesting Date occurs, and (ii) the 15th day of the third month following the
applicable Previous Award Vesting Date.

(c) With respect to a payment pursuant to Section 4(b) of a Previous Award Agreement (other
than a payment as a result of the death of a Participant), the Participant shall receive such
payment on the date that is six (6) months following a Separation from Service. With respect to a
payment pursuant to Section 4(b) of a Previous Award Agreement as a result of the death of the
Participant, the amount due under Section 4(b) of the Previous Award Agreement shall be paid as
soon as practicable following such death but in no event following the later of: (i) the last day
in the calendar year in which the death occurs, and (ii) the 15th day of the third month following
such death.

(d) Notwithstanding the provisions of Section 5(d) of a Previous Award Agreement, only upon a
Change in Control of the Company that constitutes a change in ownership or effective control of the
Company (or a change in the ownership of a substantial portion of the Company’s assets), within the
meaning of Section 409A of the Code, shall the Participant receive payment in respect of the
Previous Award thereunder in accordance with the provisions of Section 8 of the Plan or in
accordance with the analogous provisions of the predecessor plan. Notwithstanding the foregoing,
the Participant shall in no event receive any such payment following the later of: (i) the last day
in the calendar year in which such Change in Control occurs, and (ii) the 15th day of
the third month following such Change in Control.

[SIGNATURES ON FOLLOWING PAGE]

1

IN WITNESS WHEREOF, the Company and the Participant have executed this Agreement effective as
of the date first above written.

PLATINUM UNDERWRITERS HOLDINGS, LTD.

By:

Name:

Title:

PARTICIPANT

By:

Name:

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