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EXHIBIT 10.4

FIRST AMENDMENT TO EMPLOYMENT AGREEMENT

    This First Amendment to Employment Agreement (“First Amendment”) is entered into by and between Las Vegas Sands Corp., a Nevada corporation (“LVSC”), and Las Vegas Sands, LLC, a wholly owned subsidiary of LVSC (together with LVSC, the “Company”) and D. Zachary Hudson (“you”) effective March 1, 2021 (“Effective Date”).  Capitalized terms that are used in this First Amendment but that are not defined herein shall have the meanings assigned to those terms in the Agreement.  In consideration of the mutual promises, covenants, conditions, and provisions contained herein, the parties agree as follows:

1.Extension of Term.  The term of employment set forth in Section 3 (Term) of the Agreement is hereby extended through and including March 1, 2026.

2.Base Salary.    The gross base salary stated in Section 4 (Base Salary) of the Agreement shall be increased to $1,100,000 effective March 1, 2021.

3.Bonus/Incentive.  Section 5 of the Agreement (Bonus/Incentive) is replaced in its entirety by the following:

You will be eligible for an annual bonus (“Bonus”) under the Las Vegas Sands Corp. Executive Cash Incentive Plan in which the Company’s senior executives participate for each calendar year of the Term (with a target Bonus of 125% of Base Salary), subject to the achievement of performance criteria approved by the CEO and established by the Compensation Committee of the Board of Directors of LVSC (the “Compensation Committee”).  The Bonus shall be payable at 85% of target if the applicable performance criteria are determined to be achieved at the threshold payout level and shall not exceed 115% of target if the applicable performance criteria are determined to be achieved at the maximum payout level. The actual amount of the Bonus for each such calendar year shall be determined by the Compensation Committee after consultation with the CEO.  The Bonus for any year shall be payable at the same time as annual bonuses are paid to other senior executives of the Company, but no later than March 15 of the year immediately following the year to which the Bonus relates, subject to your continued employment through the payment date except for the Bonus for the 2025 calendar year, which shall be subject to your continued employment through the end of the Term.

4.Equity Award.  Section 6 of the Agreement is supplemented with the following:

(a)In each calendar year during the Term while you are employed by the Company, commencing with respect to performance in calendar year 2021, subject to the achievement of performance criteria established by the Compensation Committee for you in respect of the prior calendar year, the Compensation Committee will grant you restricted stock units (“RSUs”) in respect of a number of shares (the “Shares”) of LVSC common stock (“Common Stock”) in a target amount equal to 125% of your base salary based upon the fair market value per Share on the date of grant (the “Annual RSU Award”).  The Annual RSU Award shall be granted at 85% of target if the applicable performance criteria are determined to be achieved at the threshold level and shall not exceed 115% of target if the applicable performance criteria are determined to be 

achieved at the maximum level.  The actual amount of the Annual RSU Award for each such calendar year shall be determined by the Compensation Committee in its sole discretion.  The RSUs shall be granted pursuant to the terms of the LVSC Amended and Restated 2004 Equity Award Plan (the “2004 Plan”) or a successor plan, and shall vest as to thirty-three percent (33%) on the first and second anniversaries of such grant and thirty-four percent (34%) on the third anniversary of such grant subject to your continued employment with the Company as of the applicable vesting date or otherwise as described in this Agreement.  The Annual RSU Award for each year during the Term shall be granted following the first meeting of the Compensation Committee during the year to which such Annual RSU Award relates (at the time when equity incentive awards are granted to other employees of the Company, but in no event later than March 15 of such year).  Except as otherwise provided herein, the RSUs shall be subject to the terms and conditions of the 2004 Plan (or a successor plan) and the Company’s form of Restricted Stock Units Award Agreement for its senior executives.  If elected by you, the Company shall withhold Shares sufficient to cover the minimum statutory withholding taxes due in connection with the vesting of the RSUs.

(b)The Compensation Committee has granted you a one-time grant of RSUs in respect of a number of Shares of Common Stock in an amount equal to 125% of your Base Salary based upon the fair market value per Share on the date of grant (the “Sign-On RSUs”), which shall vest as to thirty-three percent (33%) on the first and second anniversaries of such grant and thirty-four percent (34%) on the third anniversary of such grant subject to your continued employment with the Company as of the applicable vesting date or otherwise as described in this Agreement.  The Sign-On RSUs shall be subject to the terms and conditions of the 2004 Plan and the Company’s form of Restricted Stock Units Award Agreement for its senior executives.

5.Original Agreement.  Except as expressly modified by this First Amendment, the terms and conditions of the Agreement are, and shall continue to remain, in full force and effect.  In the event of a conflict between the terms of this First Amendment and the Agreement, the terms of this First Amendment shall control.

The parties have read, understood, and duly executed this First Amendment by their signatures below.

																		
	D. Zachary Hudson		Las Vegas Sands Corp., Las Vegas Sands, LLC
	/S/ D. ZACHARY HUDSON
		/S/ ROBERT G. GOLDSTEIN
	
				Robert G. Goldstein	
				Chief Executive Officer	
	Date	March 24, 2021		Date	March 24, 2021Exhibit
4.6

 

DESCRIPTION
OF THE REGISTRANT’S SECURITIES

REGISTERED
PURSUANT TO SECTION 12 OF THE

SECURITIES
EXCHANGE ACT OF 1934

 

As
of December 31, 2020, Processa Pharmaceuticals, Inc. (“we” or “our”) had one class of securities, common
stock, par value $0.001 per share (“common stock”), registered under Section 12 of the Securities Exchange Act of
1934, as amended. The following description of our common stock is a summary and is subject to, and is qualified in its entirety
by reference to, the provisions of our amended and restated certificate of incorporation and amended and restated bylaws. You
should also refer to the copies of our amended and restated certificate of incorporation and amended and restated bylaws which
have been filed with this Annual Report on Form 10-K.

 

We
have the authority to issue an aggregate of 30,000,000 shares of $0.0001 par value common stock and 1,000,000 shares of $0.0001
par value preferred stock. Our common stock is listed on the Nasdaq Capital Market under the symbol “PCSA.” The following
is a summary of our common stock:

 

Dividend
Rights. Subject to the rights of holders of preferred stock of any series that may be issued and outstanding from time
to time, holders of our common stock are entitled to receive such dividends and other distributions as may be declared by our
Board of Directors from time to time.

 

Voting
Rights. Each outstanding share of our common stock is entitled to one vote on all matters submitted to a vote of stockholders
generally. In the event we issue one or more series of preferred or other securities in the future such preferred stock or other
securities may be given rights to vote, either together with the common stock or as a separate class on one or more types of matters.
The holders of our common stock do not have cumulative voting rights.

 

Liquidation
Rights. In the event of any liquidation, dissolution or winding up of the Company, the holders of our common stock will
be entitled, subject to any preferential or other rights of any then outstanding preferred stock, to receive all assets of the
Company available for distribution to stockholders.

 

Preemptive
Rights. As of the date hereof, the holders of our common stock have no preemptive rights in their capacities as such holders.

 

Board
of Directors. Holders of common stock do not have cumulative voting rights with respect to the election of directors.
At any meeting to elect directors by holders of our common stock, the presence, in person or by proxy, of the holders of a majority
of the voting power of shares of our capital stock then outstanding will constitute a quorum for such election. Directors may
be elected by a plurality of the votes of the shares present and entitled to vote on the election of directors, except for directors
whom the holders of any then outstanding preferred stock have the right to elect, if any.Exhibit 10.15

 

ADDENDUM
NO. 1 TO

LICENSE
AGREEMENT

 

THIS
ADDENDUM NO. 1 (the “Addendum”) to the License Agreement dated as of May 24, 2020 (the “Original Agreement”)
is made effective as of May 24, 2020 (the “Effective Date”) by and between Processa Pharmaceuticals, Inc. a
company organized under the laws of Delaware, having a business address at 7380 Coca Cola Drive, Suite 106, Hanover, MD 21076
(“Processa”), and Aposense Ltd., a company in Israel whose principal place of business is at 5-7 Ha’Odem
St., Petach Tikva, Israel (“Aposense,” with each of Processa and Aposense being referred to in the singular
as a “Party” and together as the “Parties”).

 

NOW,
THEREFORE, for and in consideration of the mutual promises, covenants and agreements contained herein and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties here to agree as follows:

 

	1.	Article
    V (Diligence) and Section 11.5 of the Original Agreement are deleted in their entirety and are of no force or effect.
	 	 
	2.	Section
    6.1 and Section 6.2 of the Original Agreement are amended such that references to the date of issuance of the Six Hundred
    and Twenty-Five Thousand (625,000) shares of common stock issuable to Aposense under Section 6.1, shall be replaced with the
    date October 6, 2020.
	 	 
	3.	Section
    10.2 of the Original Agreement is amended to add a new subsection (e) as follows:

 

(e)
any Taxes that are required under applicable Law to be deducted and withheld from any payment (in cash or shares of common stock)
made to Aposense by Processa under this Agreement.

 

	4.	The
    Original Agreement is amended to add a new Section 12.14 as follows:

 

12.14
Tax Withholding. In the event that Processa or any Affiliate is required under applicable Law to deduct and withhold any
Taxes from any payment (in cash or shares of common stock) made to Aposense by Processa under this Agreement and Processa does
not deduct and withhold such amounts at the time of such payment, Processa or any Affiliate, as applicable, may, and is hereby
authorized to, at any time and from time to time, to the fullest extent permitted by law, set off and apply any and all amounts
and obligations at any time owing by Processa or any Affiliate to or for the credit or the account of Aposense against any and
all obligations of Aposense to reimburse (including by selling or retiring the Pledged Shares, as defined below) or indemnify
Processa or any Affiliate for such Tax amount. Should any payment required to be made to Aposense in accordance with the provisions
of this Agreement be subject to such withholding requirements under applicable Law, Processa shall inform Aposense of such withholding
requirement in advance of such payment to be made by Processa to Aposense hereunder, so as to allow Aposense to obtain and provide
Processa with an appropriate opinion from a reputable accounting firm confirming that no withholding should apply. No withholding
shall be made if an exemption is timely obtained and for as long as such exemption is valid or if such opinion is accepted by
Processa. The rights of Processa and its Affiliates under this Section 12.14 are in addition to the other rights and remedies
which the Processa or its Affiliates may have under this Agreement or any law or otherwise.

 

    	 

    	 

    

 

	5.	Notwithstanding
    the provisions of Section 12.14 of the Agreement it is hereby acknowledged that immediately prior to the execution of this
    Addendum, Processa has received a satisfactory opinion from Ernst & Young, and that accordingly, subject to the provisions
    of Section 12.15, no withholding shall be made in connection with the issuance of shares of common stock issuable to Aposense
    under Section 6.1.
	 	 
	6.	The
    Original Agreement is amended to add a new Section 12.15 as follows:

 

12.15
Stock Pledge. Aposense hereby pledges, grants a security interest in, assigns, transfers and delivers unto Processa Fifty
Thousand (50,000) shares of common stock issuable to Aposense under Section 6.1 (the “Pledged Shares”)
as collateral security for the payment and performance of any Tax payments required to be paid by Processa on behalf of Aposense
as a result of this Agreement and the transactions contemplated hereby and the related indemnification obligations set forth in
Section 10.2(e) (collectively, the “Obligations”). Processa shall be entitled, upon prior notice to
Aposense, and without necessity for legal proceedings, to sell any or all of the Pledged Shares (or retire such Pledged Shares
with the per share value of such shares being assigned the volume weighted average closing price of the shares on the five trading
days immediately prior to such retirement) and, if any of the Obligations remains unsatisfied following such foreclosure, to seek
payment of such unsatisfied amount from Aposense. In addition, and not by way of limitation of the foregoing, Processa shall have
any or all remedies provided by law, including, but not limited to, all rights and powers of a secured party. Aposense agrees
to promptly take any actions reasonably requested by Processa in order facilitate Processa executing its rights hereunder, including
the delivery by Aposense to Processa of all original certificates representing the Pledged Shares, together with duly executed
in blank, undated stock powers. This pledge shall terminate on January 1, 2023 and the Pledged Shares remaining, if any, shall
be promptly delivered to Aposense.

 

	7.	Delivery
    of Original Certificates and Stock Powers. Simultaneously with the execution of this Addendum, Processa shall retain an
    original certificate representing the Pledged Shares, together with a duly executed in blank, undated stock powers, in the
    form attached hereto as Exhibit A.
	 	 
	8.	No
    Other Changes. Except as otherwise expressly provided herein, this Addendum does not alter, amend, or modify the remaining
    terms of the Original Agreement. All of the terms of the Original Agreement, as amended, not hereby amended, shall remain
    in full force and effect.

 

(remainder
of page intentionally left blank; signature page to follow)

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the Parties have hereunto signed this Addendum in their official capacities to be effective as of the Effective
Date.

 

	PROCESSA
    PHARMACEUTICALS, INC.	 	APOSENSE
    LTD.
	 	                                 	 	 	 
	By:	 	 	By:	 
	Name:	James
    Stanker	 	Name:	Yuval
    Gottenstein
	Title:	CFO	 	Title:	CEO

 

    	 

    	 

    

 

Exhibit
A

 

Stock
Power

 

    	 

    	 

    

 

STOCK
TRANSFER POWER

 

FOR
VALUE RECEIVED, APOSENSE LTD, hereby sells, assigns and transfers unto _____________________________________________, Fifty Thousand
(50,000) shares of common stock in PROCESSA PHARMACEUTICALS, INC., a Delaware corporation (the “Company”),
standing in its name on the books of the Company represented by Certificate No(s). _____________ herewith, and does hereby irrevocably
constitute and appoint ______________________________ attorney to transfer such shares on the books of the Company with full power
of substitution in the premises.

 

Dated:
___________________________

 

	 	APOSENSE
    LTD
	 	 	 
	 	By:	 
	 	Name:	Yuval
    Gottenstein
	 	Its:	Chief
    Executive Officer

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