Document:

EX-10.40

 Exhibit 10.40 

 
 EMPLOYMENT AGREEMENT 

 
 THIS EMPLOYMENT AGREEMENT (the
“Agreement”) is executed effective as of the 20th
day of February, 2013 (the “Effective Date”), by and between CACI International Inc, a Delaware corporation (the “Company”), and Kenneth Asbury (the
“Executive”). 
  
 RECITALS

  
 The Company wishes to employ the Executive as
its President and Chief Executive Officer. The parties agree that it is in the best interests of the Company and the Executive to enter into this employment agreement setting forth the terms of the Executive’s employment. 

 
 Accordingly, in consideration of the mutual understandings
contained in this Agreement, the parties hereto, intending to be legally bound, agree as follows: 
  
 1. Employment of Executive; Duties and Status. 
  

(a) The Company hereby agrees to engage the Executive as the President and Chief Executive Officer of the Company during
the “Employment Period” (as defined in Section 2 hereof), and the Executive hereby accepts such employment, all on the terms and conditions set forth in this Agreement. During the Employment Period, the Executive shall (i) have
responsibility for the active management of the Company and general supervision and direction of the affairs of the Company, (ii) provide leadership, by the Executive’s words and actions, both within the Company and outside the Company, in
promoting the Company’s culture and reputation for observing the highest ethical standards, with honesty and integrity, in the conduct of the Company’s business, and serve as a role model to the employees and the 3rd parties the Company
works with in doing business the right way, (iii) have such duties, obligations and responsibilities as are customarily performed by chief executive officers of companies of like size and type as the Company or are imposed by applicable law,
including, without limitation, the Sarbanes-Oxley Act of 2002, as amended and in effect from time to time (the “Sarbanes-Oxley Act”), (iv) have such other authority and perform such other executive duties (including, without
limitation, serving as an officer of an “Affiliate” (as defined in Section 4(d) hereof) of the Company), as shall be assigned to the Executive by the Executive Chairman or the Board of Directors of the Company (the “Board”),
(v) administer such other business affairs of the Company as shall reasonably be assigned to the Executive by the Executive Chairman or Board, and (vi) for all matters of the Company in the Executive’s capacity of the Chief Executive
Officer, the Executive shall report to the Executive Chairman or Board. For purposes of Section 302 of the Sarbanes-Oxley Act the Executive will be deemed to be the principal executive officer and for purposes of 906 of Sarbanes-Oxley Act the
Executive will be deemed to be the principal chief executive officer and the Executive acknowledges his responsibility to comply with the certification requirements of the Sarbanes-Oxley Act. 
  
 (b) The Executive agrees that, at all times, the Executive shall act in a manner consistent
with his fiduciary obligations to the Company, and otherwise comply with the Company’s Standard of Ethics and Business Conduct, as the same may be amended and in effect from time to time and timely provided to the Executive (the “Standards
of Conduct”). In addition, the Executive shall comply with all laws, rules and regulations that are generally applicable to the Company and its employees, directors and officers, and the Executive shall perform all services in accordance with
the policies, procedures and rules established by the Company and the Board. 
  
 (c) During the Employment Period, the Executive shall be a full-time employee of the Company and shall devote all business time and energies to the Company. The Executive shall, however, be entitled to
devote a reasonable amount of time to supervising his personal investments and other personal affairs. 
  

(d) The Executive shall avoid diluting his energies by engaging in outside commitments to other companies or organizations
that require efforts that, either directly or indirectly, reduce the focus, 

  
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concentration and amount of time Executive devotes to CACI. Therefore, with the exception of membership with professional/industry associations that directly relate to Executive’s job, and
that do not have leadership responsibilities, and participation with not for profit charitable or community service entities whose primary activities take place outside of normal working hours, Executive shall not be affiliated with any entities
outside of CACI without first receiving approval from the Corporate Governance and Nominating Committee of the Company’s Board of Directors. 
  

(e) The Executive agrees that during the Employment Period he will maintain his legal residence within fifty
(50) miles of the current location of the main office of the Company, which is at 1100 N. Glebe Road, Arlington, Virginia 22201. 
  

(f) The Board shall establish criteria for measuring the Executive’s performance as President and Chief Executive
Officer and shall review and assess the Executive’s performance in accordance with such criteria at least annually. The Executive Chairman or the Board shall advise the Executive of the Board’s performance assessment. 

 
 (g) The Executive shall promptly notify the
Chief Legal Officer, the Executive Chairman, and the Lead Director of the Board of Directors upon his receipt of an email, letter or other written communication from the Securities and Exchange Commission (“SEC”). In addition, the
Executive shall take reasonable steps to ensure that the Chief Legal Officer of the Company provides to the Executive Chairman and the Lead Director of the Board an advance copy of any written communication responding to an SEC communication.

  
 2. Term of Employment. The
Executive’s employment hereunder shall continue until the third anniversary of the Effective Date (the “Initial Term”), unless such employment is terminated earlier in accordance with the provisions of this Agreement (the
“Employment Period”). This Agreement shall automatically renew itself and the Executive’s employment shall continue for an additional one (1) year term on the third anniversary of the Effective Date and on each anniversary of the
Effective Date thereafter (each a “Successive Term” and collectively, the “Successive Terms”). The initial term and such Successive Terms will then constitute the term of the Employment Period. Notwithstanding the forgoing, this
Agreement may be terminated at any time in accordance with the provisions of Section 5. 
  
 3. Compensation and General Benefits. 
  

(a) Base Salary. The Company agrees to pay to the Executive an annual base salary of $750,000 (such base
salary, as adjusted from time to time, is referred to herein as the “Base Salary”). The Executive’s Base Salary, less amounts required to be withheld under applicable law, shall be payable in equal installments in accordance with the
practice of the Company in effect from time to time for the payment of salaries to executives of the Company, but in no event less frequently than monthly. The Executive’s Base Salary shall be reviewed annually by the Compensation Committee and
the Board in connection with the Executive’s performance review. 
  
 (b) Annual Incentive. During the Employment Period, the Executive shall be eligible to participate in any annual incentive or bonus plan maintained by the Company for its senior executives
(the “Annual Incentive Plan”). The Executive’s award under such plan will be determined by the Compensation Committee and approved by the Board from time to time. The Executive’s award under such plan will be based on the
achievement of strategic performance metrics established by the Compensation Committee and approved by the Board. 
  

(c) Expenses. During the Employment Period, the Executive shall be entitled to cause
payment by, or to receive prompt reimbursement from, the Company for all reasonable and necessary expenses incurred by the Executive in performing the duties required hereunder on behalf of the Company. All payments and reimbursements by the Company
pursuant to this Section 3(c) shall be subject to, and consistent with, the Company’s policies for expense payment and reimbursement, as in effect from time to time. Such payment or reimbursement shall be made on or before
March 15th following the close of the calendar year
in which 

  
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the expense or liability was incurred. To the extent that payment or reimbursement is based on claims, bills, invoices or other documentation that the Executive is required to submit to the
Company, such documentation must be submitted by the Executive on or before March 1st following the close of the calendar year in which the expense or liability was incurred. Amounts which are not submitted within the required timeframe shall not be eligible for payment or reimbursement
hereunder. 
  
 (d) Fringe
Benefits. 
  
 (i)
Company Plans. During the Employment Period, in addition to any amounts to which the Executive may be entitled pursuant to the other provisions of this Section 3 or elsewhere herein, the Executive shall be entitled to participate
in, and to receive benefits under, any deferred compensation plan (funded solely by elective deferrals by the Executive), qualified retirement plan, profit-sharing plan, savings plan, group life, disability, sickness, accident and health insurance
programs, or any other similar benefit plan or arrangement generally made available by the Company to its senior executive employees, subject to and on a basis consistent with the terms, conditions and overall administration of each such plan or
arrangement. The Executive may also participate in any long term incentive, equity or other nonqualified deferred compensation plan on such terms and on such conditions as may be established by the Board or the Compensation Committee. The award of
any additional incentive under this Section 3(d) (i) shall be separate and distinct from the right of the Executive to receive the annual incentive or bonus payment from the Company described in Section 3(b). 

 
 (ii) Leave. The Executive
shall be entitled to paid annual leave during the Employment Period in accordance with the Company’s leave policy for senior executives. Leave shall accrue monthly during the Employment Period (based on a full year). In addition, the Executive
shall be entitled to all paid holidays given by the Company to its senior executives. The extent to which the Executive may receive payment for unused annual leave at the end of the Employment Period shall be determined in accordance with the
Company’s policies for its senior executives. 
  
 (iii) Office. During the Employment Period, the Company shall provide the Executive with an office of a size and with furnishings and other appointments commensurate with the
Executive’s office at the Company on the Effective Date, and full-time secretarial and administrative assistance and the support staff necessary in order to perform his duties hereunder. 
  
 4. Covenants of the Executive. 
  
 (a) No Conflicts. The Executive represents and warrants to the Company that the
Executive is not subject to any contract, agreement, judgment, order or decree of any kind, or any restrictive agreement of any character, that restricts the Executive’s ability to perform his obligations under this Agreement or that would be
breached by the Executive upon his performance of his duties pursuant to this Agreement. The Executive also understands that as a condition of his employment as the President and Chief Executive Officer of the Company, he must secure and maintain
appropriate security clearances and he represents and warrants that he is not aware of any reason he should not be able to secure and maintain such security clearances. 

 
 (b) Company Stock. 

 
 (i) Stock Holding Requirement.
The Executive shall maintain compliance with the stock holding requirements for his position as set forth in the CACI Management Stock Ownership Guidelines, which is administered by the Compensation Committee of the Board. 

 
 (ii) Transactions in Company
Stock. The Executive shall notify the Executive Committee of the Board when he intends to buy or sell Company stock, prior to any transaction. The Company recommends that the Executive adopt a 10b5-1 Plan with respect to his transactions in
Company stock. 
  
 (c)
Confidentiality; Intellectual Property. 
  
 (i) The Executive recognizes and acknowledges that (i) the Executive’s employment with the Company has provided (and in the future, will provide) the Executive with access to “Trade
Secrets” or 

  
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“Confidential or Proprietary Information” (each, as defined in Section 4(e) hereof), (ii) the Company is engaged in a highly competitive enterprise, so that any unauthorized
disclosure or unauthorized use by the Executive of the Trade Secrets or Confidential or Proprietary Information protected under this Agreement, or any unauthorized competition, whether during his employment with the Company or after its termination,
would cause immediate, substantial and irreparable injury to the business and goodwill of the Company, (iii) the Company’s Trade Secrets and Confidential and Proprietary Information was developed by the Company at considerable expense, that
this information is a valuable Company asset and part of its goodwill, that this information is vital to the Company’s success and is the sole property of the Company, and (iv) the Company’s business interests require a confidential
relationship between the Company and the Executive and the fullest practical protection and confidential treatment of all Trade Secrets and Confidential or Proprietary Information. Accordingly, the Executive agrees that, except (A) as required
by law, Governmental Authority or court order, or (B) in the good faith furtherance of the business of the Company, the Executive will keep confidential and will not publish, make use of, or disclose to anyone (or aid others in publishing,
making use of, or disclosing to anyone), in each case, other than the Company or any Persons designated by the Company, or otherwise “Misappropriate” (as defined in Section 4(e) hereof) any Trade Secrets or Confidential or Proprietary
Information at any time. The Executive’s obligations hereunder shall continue during the Employment Period and thereafter for so long as such Trade Secrets or Confidential or Proprietary Information remain Trade Secrets or Confidential or
Proprietary Information. 
  
 (ii)
The Executive acknowledges and agrees that: 
  
 (A) All Trade Secrets and Confidential or Proprietary Information shall be “Trade Secrets” (as defined under the Uniform Trade Secrets Act) of the Company and/or its Affiliates, as the case may
be; 
  
 (B) The Executive occupies
a unique position within the Company, and he is and will be intimately involved in the development and/or implementation of Trade Secrets and Confidential or Proprietary Information; 
  
 (C) In the event the Executive breaches Section 4(c) hereof with respect to any Trade
Secrets or Confidential or Proprietary Information, such breach shall be deemed to be a Misappropriation of such Trade Secrets or Confidential or Proprietary Information; and 

 
 (D) Any Misappropriation of Trade Secrets
or Confidential or Proprietary Information will result in immediate and irreparable harm to the Company. 
  

(iii) The Executive recognizes that the Company has received, and in the future will receive, “Information” (as
defined in Section 4(e) hereof) from Persons subject to a duty on the Company’s part to maintain the confidentiality of such Information and to use it only for certain limited purposes. Without limiting anything in Section 4(c)(i)
hereof, the Executive agrees that he owes the Company and such Persons, during the Employment Period and thereafter, a duty to hold all such Information in the strictest confidence and, except with the prior written authorization of the Company, or
as required by law, Governmental Authority or court order, not to disclose such Information to any Person (except as necessary in carrying out the Executive’s duties for the Company consistent with the Company’s agreement with such Person)
or to use it for the benefit of anyone other than for the Company or such Person (consistent with the Company’s agreement with such Person). 
  

(iv) All memoranda, notes, lists, records and other documents or papers (and all copies thereof), including but not
limited to, such items stored in computer memories, on microfiche, electronically, or by any other means, made or compiled by or on behalf of the Executive, or made available to the Executive or in the Executive’s possession concerning or in
any way relating to the conduct of the business of the Company or any of its Affiliates, are and shall be the property of the Company or such Affiliate and shall be delivered to the Company promptly upon the Company’s request following the
termination of the Executive’s employment with the Company or at any other time on request. The 

  
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Executive acknowledges and stipulates that all Electronic Equipment (as defined in Section 4(e) hereof) of the Company or any Affiliate are the sole property of the Company or such
Affiliate, and that any information transmitted by, received from, or stored in such Electronic Equipment is also the property of the Company or such Affiliate. Executive agrees that, after his termination of employment, he shall not, directly or
indirectly, for himself or for any other person or entity, use, access, copy, or retrieve, or attempt to use, access, copy, or retrieve, any of the Electronic Equipment of the Company or any Affiliate or any information on the Equipment of the
Company or an Affiliate. 
  
 (v)
“Work Product” (as defined in Section 4(e) hereof) relating to any work performed by or assigned to the Executive during, and in connection with, his employment with the Company, shall belong solely and exclusively to the Company.

  
 (vi) From time to time, at the
reasonable request of the Company, the Executive agrees to disclose promptly to the Company all Work Product and relevant records, which records will remain the sole property of the Company; provided that the Executive shall not have an obligation
to disclose Work Product or records hereunder to the extent the Company already has actual knowledge of such Work Product and originals or copies of such records. 

 
 (vii) The Executive hereby assigns to the
Company, without further consideration, his entire right, title, and interest (throughout the United States and in all foreign countries) in and to all Work Product, whether or not patentable. Should the Company be unable to secure the
Executive’s signature on any document necessary to apply for, prosecute, obtain, or enforce any patent, copyright, or other right or protection relating to any Work Product, whether due to the Executive’s mental or physical incapacity, or
the Executive’s unavailability for a reasonable period under the circumstances, the Executive hereby irrevocably designates and appoints the Company and each of its duly authorized officers and agents as his agent and attorney-in-fact (such
designation and appointment being coupled with an interest), solely for the specific instance in which the Company is unable to secure such signature, to act for and in his behalf and stead, to execute and file any such document, and to do all other
lawfully permitted acts to further the prosecution, issuance, and enforcement of patents, copyrights, or other rights or protections with the same force and effect as if executed and delivered by the Executive. 

 
 (viii) There is no Information which the
Executive wishes to exclude from the operation of this Section 4(c). To the best of the Executive’s knowledge, there is no existing contract in conflict with this Agreement or any other contract to assign Information that is now in
existence between the Executive and any other Person. 
  
 (ix) To the extent that any Work Product incorporates pre-existing material to which the Executive possesses copyright, trade secret, patent, trademark or other proprietary rights, and such rights are not
otherwise assigned to the Company herein, the Executive hereby grants to the Company a royalty-free, irrevocable, worldwide, exclusive, perpetual license to make, have made, sell, use and disclose, reproduce, modify, transmit, prepare Derivative
Works based on, distribute, perform and display (publicly or otherwise), such material, with full right to authorize others to do so. 
  

(d) Noncompetition and Nonsolicitation. 
  
 (i) Subject to the provisions of Section 4(d)(iii) hereof, during his period of employment
and thereafter for a period of two years following termination of his employment (and up to five years in the case of the restriction contained in Section 4(d)(ii)) (the “Restricted Period”), the Executive agrees that he will not,
directly or indirectly, on his own behalf or as a partner, owner, officer, director, stockholder, member, employee, agent or consultant of any other Person, within any state (including the District of Columbia), territory, possession or country
where the Company conducts business during the Employment Period or during the Restricted Period: 
  

(A) Own, manage, operate, control, be employed by, provide services as a consultant to, or participate in the ownership,
management, operation, or control of, any Person engaged in any activity competitive with the Company or any of its Affiliates; 

  
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 (B) Engage in the business of providing goods or services that are the same
as or similar to the goods or services of the Company or any of its Affiliates; 
  
 (C) Have any contact with any of the Company’s Customers or potential Customers for the purpose of soliciting or inducing (or attempting to solicit or induce) any of the Company’s Customers to
discontinue or reduce its business with the Company, or any potential Customers not to conduct business with the Company, or any Customer or potential Customer to conduct business with or contract with any other Person that competes with the Company
or its Affiliates; or 
  
 (D)
Persuade or attempt to persuade any supplier, agent, broker, or contractor of the Company or any of its Affiliates to discontinue or reduce its business with the Company (or any prospective supplier, broker, agent, or contractor to refrain from
doing business with the Company or any of its Affiliates. 
  
 (ii) Subject to the provisions of Section 4(d)(iii) hereof, during a Restricted Period of up to five years, the Executive agrees that he will not, directly or indirectly, on his own behalf or as a
partner, owner, officer, director, stockholder, member, employee, agent or consultant of any other Person, within any state (including the District of Columbia), territory, possession or country where the Company conducts business during the
Employment Period or during the Restricted Period solicit, hire, or otherwise attempt to establish for any Person, any employment, agency, consulting or other business relationship with any Person who is an employee or consultant of the Company or
any of its Affiliates, provided that the prohibition in this Section 4(d)(ii)(C) shall not bar the Executive from soliciting or hiring any former employee or former consultant who at the time of such solicitation or hire had not been employed
or engaged by the Company or any of its Affiliates for a period of at least six (6) months, or any other provider of services to the Company or any of its Affiliates, as long as such Person’s engagement by the Executive does not interfere
or conflict with the provision of services to the Company or an Affiliate by such Person. 
  

(iii) The parties hereto acknowledge and agree that, notwithstanding anything in Section 4(d)(i) or (ii) hereof
the Executive may own or hold, solely as passive investments, securities of Persons engaged in any business that would otherwise be included in Section 4(d)(i) or (ii), as long as with respect to each such investment, the securities held by the
Executive do not exceed five percent (5%) of the outstanding securities of such Person and such securities are publicly traded and registered under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”); provided, that in the case of investments otherwise permitted under this clause, the Executive shall not be permitted to, directly or indirectly, participate in, or attempt to influence, the management, direction or policies of (other
than through the exercise of any voting rights held by the Executive in connection with such securities), or lend the Executive’s name to, any such Person. 

 
 (e) Definitions. For purposes
of this Agreement, the following terms shall have the following meanings: 
  
 (i) Affiliate means a Person, whether now or hereafter existing, directly or indirectly controlling or controlled by, or under direct or indirect common control with, such specified Person.
For purposes hereof, “control” or any other form thereof, when used with respect to any Person, means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting
securities, by contract or otherwise. 
  
 (ii) Confidential or Proprietary Information means: 
  

(A) any and all information and ideas in whatever form (including, without limitation, written or verbal form, and
including information or data recorded or retrieved by any means, tangible or intangible), whether disclosed to or learned or developed by the Executive, pertaining in any manner to the business of the Company or any of the Company’s Affiliates
(collectively, “Information”) that (a) derives independent economic value, actual or potential, from not being 

  
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generally known to the public or to other Persons who can obtain economic value from its disclosure or use, and (b) is the subject of efforts by the Company and/or its Affiliates that are
reasonable under the circumstances to maintain its secrecy; and 
  
 (B) any and all other Information unique to the Company and/or or its Affiliates which has a significant business purpose and is not known or generally available from sources outside of such Persons or
typical of industry practice. 
  

(iii) Customer means all Persons that have either sought or purchased the Company’s goods or services,
have contacted the Company for the purpose of seeking or purchasing the Company’s goods or services, or have been contacted by the Company for the purpose of selling its goods and services during the Executive’s employment and for one year
prior thereto, and all Persons subject to the control of those Persons. The Customers covered by this Agreement shall include any Customer or potential Customer of the Company at any time during the Executive’s employment. In the case of a
Governmental Authority, the Customer or potential Customer shall be determined by reference to the specific program offices or activities for which the Company provides (or may reasonably provide) goods or services. 

 
 (iv) Electronic Equipment
means electronic and telephonic communication systems, computers and other business equipment of the Company or any Affiliate including, but not limited to, computer systems, data bases, phone mail, modems, email, Internet access, Web sites, fax
machines, techniques, processes, formulas, mask works, source codes, programs, semiconductor chips, processors, memories, disc drives, tape heads, computer terminals, keyboards, storage devices, printers and optical character recognition devices,
and any and all components, devices, techniques or circuitry incorporated in any of the above and similar business devices. 
  

(v) Governmental Authority means any federal, state, local or other governmental, regulatory or
administrative agency, commission, department, board, or other governmental subdivision, court, tribunal, arbitral body or other governmental authority. 
  

(vi) Information includes, without limitation, any and all (A) information regarding business strategy,
operations and methods of operation including, without limitation, business or strategic plans, plans regarding business acquisitions, mergers, sales or divestures, marketing and sales information, and information regarding Customers, potential
Customers, suppliers, manufacturers, distributors, contractors or other business contacts; (B) information regarding products and services including, without limitation, production, distribution, design, development, techniques, processes,
software (including, without limitation, designs, programs and codes), and know how; (C) information regarding technology, software, concepts, research, formulae, inventions, techniques, and other work product (of the Executive or any other
employee of Company or an Affiliate); (D) financial information including, without limitation, budget, cost and expense information, pricing, revenue, or profit information and/or analysis, statistical information, economic models and
forecasts, operating and other financial reports and/or analysis; and (E) human resource information such as compensation policies and schedules, employee recruiting and retention plans, organization charts and personnel data. 

 
 (vii) Misappropriation, or any
form thereof, means: 
  
 (A) the
acquisition of any Trade Secret or Confidential or Proprietary Information by a Person who knows or has reason to know that the Trade Secret or Confidential or Proprietary Information was acquired by theft, bribery, misrepresentation, breach or
inducement of a breach of a duty to maintain secrecy, or espionage through electronic or other means (each, an “Improper Means”); or 
  

(B) the disclosure or use of any Trade Secret or Confidential or Proprietary Information without the express consent of
the Company by a Person who (1) used Improper Means to acquire knowledge of the Trade Secret or Confidential or Proprietary Information; or (2) at the time of disclosure or use, knew or had reason to know that his or her knowledge of the
Trade Secret or 

  
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Confidential or Proprietary Information was (a) derived from or through a Person who had utilized Improper Means to acquire it, (b) acquired under circumstances giving rise to a duty to
maintain its secrecy or limit its use, or (c) derived from or through a Person who owed a duty to the Company and/or any of its Affiliates to maintain its secrecy or limit its use; or (3) before a material change of his or her position,
knew or had reason to know that it was a Trade Secret or Confidential or Proprietary Information and that knowledge of it had been acquired by accident or mistake. 

 
 (viii) Person means any
individual, corporation, partnership, limited liability company, joint venture, association, business trust, joint-stock company, estate, trust, unincorporated organization, or government or other agency or political subdivision thereof, or any
other legal or commercial entity. 
  

(ix) Trade Secrets means all information of the Company or any of the Company’s Affiliates that would
be deemed to be “trade secrets” within the meaning of the Uniform Trade Secrets Act. 
  

(x) Uniform Trade Secrets Act means the Uniform Trade Secrets Act as promulgated by the United States
National Conference of Commissioners on Uniform State Laws or such other or similar statute of any jurisdiction which is found to be applicable to this Agreement, its enforcement or its interpretation. 

 
 (f) Remedies. The Executive
acknowledges and agrees that if the Executive breaches any of the provisions of Section 4 or 5(i) hereof, the Company will suffer immediate and irreparable harm for which monetary damages alone will not be a sufficient remedy, and that, in
addition to all other remedies that the Company may have, the Company shall be entitled to seek injunctive relief, specific performance or any other form of equitable relief to remedy a breach or threatened breach of this Agreement (including,
without limitation, any actual or threatened Misappropriation) by the Executive and to enforce the provisions of this Agreement. The existence of this right shall not preclude or otherwise limit the applicability or exercise of any other rights and
remedies which the Company may have at law or in equity. The Executive waives any and all defenses he may have on the grounds of lack of subject matter jurisdiction or competence of a court to grant the injunctions or other equitable relief provided
above and to the enforceability of this Agreement. 
  
 (g) Further Acknowledgements; Severability. 
  

(i) The Executive recognizes and acknowledges that his experience, skills, education and training are readily transferable
and of such breadth that he can employ them to his advantage in many other fields of endeavor, and that consequently, the terms of this Agreement will not unreasonably impair the Executive’s ability to engage in business or employment
activities. 
  
 (ii) The Executive
has carefully considered the possible effects on the Executive of the covenants not to compete, the confidentiality provisions, and the other obligations contained in this Agreement, and the Executive recognizes that the Company has made every
effort to limit the restrictions placed upon the Executive to those that are reasonable and necessary to protect the Company’s legitimate business interests. 

 
 (iii) The Executive understands that he may
not accept employment with any Person if the nature of his position with such Person will inevitably require or lead to the disclosure of any Trade Secrets or Confidential and Proprietary Information. 

 
 (iv) The Executive acknowledges and agrees
that the restrictive covenants set forth in this Agreement are reasonable and necessary in order to protect the Company’s valid business interests. It is the intention of the parties hereto that the covenants, provisions and agreements
contained herein shall be enforceable to the fullest extent allowed by law. 
  
 (v) If any covenant, provision, or agreement contained herein is found by a court having jurisdiction to be unreasonable in duration, scope or character of restrictions, or otherwise to be unenforceable,
such covenant, provision or agreement shall not be rendered unenforceable thereby, but rather the duration, scope or character of restrictions of such covenant, provision or agreement shall be deemed reduced or modified with retroactive effect to
render such covenant, provision or agreement 

  
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reasonable or otherwise enforceable (as the case may be), and such covenant, provision or agreement shall be enforced as modified. If the court having jurisdiction will not review the covenant,
provision or agreement, the parties hereto shall mutually agree to a revision having an effect as close as permitted by applicable law to the provision declared unenforceable. The parties hereto agree that if a court having jurisdiction determines,
despite the express intent of the parties hereto, that any portion of the covenants, provisions or agreements contained herein are not enforceable, the remaining covenants, provisions and agreements herein shall be valid and enforceable. Moreover,
to the extent that any provision is declared unenforceable, the Company shall have any and all rights under applicable statutes or common law to enforce its rights with respect to any and all Trade Secrets or Confidential or Proprietary Information
or unfair competition by the Executive. 
  
 5.
Termination. 
  
 (a)
General. The employment of the Executive hereunder (and the Employment Period) shall terminate (or may be terminated) in accordance with the provisions of this Section 5. 
  
 (b) Termination Upon Mutual Agreement. The Company and the Executive may, by
mutual written agreement, terminate this Agreement and/or the employment of the Executive (and the Employment Period) at any time. 
  

(c) Death or Disability of the Executive. 
  
 (i) The employment of the Executive hereunder (and the Employment Period) shall terminate
(A) upon the death of the Executive, and (B) at the option of the Company, upon not less than thirty (30) days prior written notice to the Executive or his personal representative or guardian, if the Executive suffers a “Total
Disability” (as defined in Section 5(c) (ii) below). Upon termination for death or Total Disability, the Company shall pay to the Executive’s guardian or personal representative, as the case may be, in addition to any insurance
or disability benefits to which he may be entitled hereunder, the “Accrued Rights” (as defined in Section 5(h) hereof). Notwithstanding the foregoing, to the extent that the payment of any amount under this Section 5(c) on
account of the Executive’s Total Disability is deemed to constitute deferred compensation for purposes of Section 409A of the Code, and such Total Disability does not constitute a “disability” under Section 409A(a)(2)(C) of
the Code, then payment of such amount shall be deferred and made on the first business day following the expiration of the six (6) month period following the Executive’s Separation from Service (as defined in Section 6(j)).

  
 (ii) For purposes of this
Agreement, “Total Disability” shall mean (A) if the Executive is subject to a legal decree of incompetency (the date of such decree being deemed the date on which such disability occurred), (B) the written determination by a
physician selected by the Company that, because of a medically determinable disease, injury or other physical or mental disability, the Executive is unable substantially to perform each of the material duties of the Executive required hereby, and
that such disability has lasted for the immediately preceding ninety (90) days and is, as of the date of determination, reasonably expected to last an additional six (6) months or longer after the date of determination, in each case based
upon medically available reliable information, or (C) qualification by the Executive for benefits under the Company’s long-term disability coverage, if any. 

 
 (iii) The date of any legal decree of
incompetency or written opinion which is conclusive as to the Total Disability of the Executive shall be deemed the date on which such Total Disability occurred. Any leave on account of illness or temporary disability which is short of Total
Disability shall not constitute a breach of this Agreement by the Executive, and in no event shall any party be entitled to terminate this Agreement for Good Cause due to any such leave. All physicians selected hereunder shall be board-certified in
the specialty most closely related to the nature of the disability alleged to exist. In conjunction with determining mental and/or physical disability for purposes of this Agreement, the Executive consents to any such examinations which are relevant
to a determination of 

  
 Page 9 of 16

 
whether he is mentally and/or physically disabled, and which are required by the aforesaid Company physician, and to furnish such medical information as may be reasonably requested, and to waive
any applicable physician patient privilege that may arise because of such examination. 
  

(d) Termination For Good Cause. 

 
 (i) The Company may, upon action of the
Board in accordance with Section 5(d) (iii) hereof, terminate the employment of the Executive (and the Employment Period) at any time for “Good Cause” (as defined below). 
  
 (ii) For purposes of this Agreement, “Good Cause” means: 

 
 (A) A material failure by the Executive to
comply with any material obligation imposed by this Agreement (including, without limitation, any violation of Section 4 hereof); 
  

(B) The Executive’s continued material failure, after being provided notice specifying the nature of such failure,
to comply with a direction of the Executive Chairman or Board with respect to a material act, omission or failure to act on the part of the Executive; 
  

(C) A material breach of the Executive’s fiduciary obligations to the Company; 

 
 (D) Gross negligence, willful misconduct or
willful malfeasance by the Executive in connection with the performance of any material duty for the Company; 
  

(E) A violation by the Executive of any legal requirement or obligation relating to the Company that the Board of
Directors, acting in good faith, reasonably determines is likely to have a material adverse impact on the Company (unless the Executive had a reasonable good faith belief that the act, omission or failure to act in question was not a violation of
such legal requirement or obligation); 
  
 (F) The Executive’s indictment for, conviction of, or plea of guilty or nolo contendere to a felony involving theft, embezzlement, bribery, kickback, fraud, or dishonesty; 

 
 (G) Theft, embezzlement, bribery, kickback,
or fraud by the Executive in connection with the performance of his duties for the Company; 
  

(H) A material failure to comply with any lawful direction of the Executive Chairman or Board of Directors of the
Company; 
  
 (I) A material
violation of the Company’s Standards of Conduct or any other published Company policy; and 
  

(J) Any act, omission or failure to act on the part of the Executive (including an act, omission or failure to act prior
to the commencement of the Executive’s employment with the Company) that results in the inability of the Executive to secure or maintain security clearances necessary or appropriate to Executive’s position as President and Chief Executive
Officer and the conduct of the Company’s business; and 
  
 (K) The misappropriation of any material business opportunity. “Good Cause” shall be based only on material matters and not on matters of minor importance. 

 
 (iii) The Executive may be terminated for
Good Cause only in accordance with a resolution duly adopted by an absolute majority of the entire number of the non-management directors of the Company finding that, in the good faith opinion of the Board, the Executive engaged in conduct
justifying a termination for Good Cause and specifying the particulars of the conduct motivating the Board’s decision to terminate the Executive for Good Cause, and provided that the Executive has been provided the time and opportunity to cure
any act or omission susceptible to cure as hereinafter provided. Such resolution may be adopted by the Board only after the Board has provided to the Executive (A) advance written notice of a meeting of the Board called for the purpose of
determining Good Cause for termination of the Executive, (B) a statement setting forth the alleged grounds for termination, and 

  
 Page 10 of 16

 
(C) an opportunity for the Executive, and, if the Executive so desires, the Executive’s counsel to be heard before the Board. Prior to such meeting of the Board, the Executive shall be
given a reasonable time period and opportunity to cure any act or omission which the Board, in its reasonable judgment, determines is susceptible of cure. The action required to cure the act or omission, and the time period in which cure must be
effected, shall be communicated to the Executive in writing. The Board’s delay in providing such notice shall not be deemed to be a waiver of any such Good Cause nor does the failure to terminate for one Good Cause prevent any later Good Cause
termination for a similar or different reason. 
  
 (e) Termination for Good Reason. 
  

(i) The Executive may resign, and thereby terminate his employment (and the Employment Period), within six (6) months
following the initial existence of “Good Reason” (as defined below). Following a Change in Control, the Executive may resign for Good Reason within twelve (12) months following the Change in Control Date. Before resigning, the
Executive must provide the Company prior written notice to the Company of his intent to resign to for Good Reason. Such notice must be provided at least thirty (30) days’ prior to the Executive’s resignation date and must specify in
reasonable detail the Good Reason for the Executive’s resignation. The Company shall have a reasonable opportunity to cure any such Good Reason (that is susceptible of cure) within thirty (30) days after the Company’s receipt of such
notice. The Executive’s delay in providing such notice shall not be deemed to be a waiver of any such Good Reason, nor does the failure to resign for one Good Reason prevent any later Good Reason resignation for a similar or different reason.

  
 (ii) For purposes of this
Agreement, what constitutes a “Change of Control” shall have the same meaning as that set forth under the 2006 Stock Incentive Plan of 2006, and amended in 2010, and as further amended by the Board of Directors from time to time in their
sole discretion. 
  
 (iii) For
purposes of this Agreement, “Good Reason” means the occurrence of any of the following circumstances without the Executive’s written consent: 
  

(A) A material failure by the Company to comply with any material obligation imposed by this Agreement; 

 
 (B) The Executive’s demotion from the
position of President and Chief Executive Officer of the Company (as the parties recognize that any such demotion would be material); 
  

(C) A material diminution in the Executive’s authority, duties or responsibilities; 

 
 (D) A material diminution in the budget
over which the Executive retains authority resulting from an action of the Executive Chairman or the Board not directly related to Company performance; or 
  

(E) A material change in the geographic location at which the Executive must perform his services hereunder, such that
the Company requires the Executive to be based (excluding travel responsibilities in the ordinary course of business) at any office or location more than fifty (50) miles from the current location of the main office of the Company, which is at
1100 N. Glebe Road, Arlington, Virginia 22201; or 
  
 (F) A material reduction in the Executive’s base compensation, or his bonus or benefits opportunities. 
  

(iv) Following the date on which a Change of Control event is legally consummated and legally binding upon the parties
(the “Change of Control Date”), Good Reason shall also include the occurrence of any of the following circumstances without the Executive’s written consent: 

 
 (A) The Executive ceases to be an
“Executive Officer” (as such term is defined by the Securities Exchange Act of 1933); or 

  
 Page 11 of 16

 (B) The failure by any successor to the Company to expressly assume all
obligations of the Company under this Agreement. 
  
 Notwithstanding
anything herein to the contrary, in no event shall any action otherwise meeting the definition of Good Reason under clauses 5(e)(ii) above taken by the Company for Good Cause, constitute, or be deemed to constitute, grounds for Good Reason
termination hereunder. 
  
 (f)
Resignation other than for Good Reason. The Executive may resign and thereby terminate his employment (and the Employment Period) under this Agreement at any time upon not less than thirty (30) days’ prior written notice.

  
 (g) Termination without
Good Cause. The Company may, for any or no reason, terminate the employment of the Executive (and the Employment Period) under this Agreement at any time upon not less than thirty (30) days’ prior written notice. In the event the
Company does not offer to extend Employment Period beyond the third anniversary of the Effective Date or any Successive Term, then the termination of the Executive’s employment at the end of the Employment Period shall be treated as a
termination by the Company without Good Cause for purposes of Section 5.8(h). 
  
 (h) Payments upon Termination. 
  

(i) Without Good Cause (Not In Connection With a Change in Control). In the event the Executive’s
employment is terminated by the Company without “Good Cause,” or by the Executive for “Good Reason,” prior to, or more than twelve (12) months following a Change in Control Date, then the following provisions shall apply:

  
 (A) The Company shall pay to
the Executive an amount equal to twenty-four (24) months of the Executive’s “Current Base Salary.” For this purpose, the Executive’s “Current Base Salary” shall be deemed to be the highest Base Salary paid to the
Executive at any time during the thirty-six (36) months prior to termination of the Executive’s employment. Such payment shall be made in a single lump sum following the Executive’s execution and delivery of the release provided for
in Section 5(h)(iv), which has become irrevocable by its terms in conformance with the provisions of Section 409A of the Internal Revenue Code (the “Code”), at the time specified in Section 5(h)(iv). 

 
 (B) The Executive shall continue to
participate in, and be covered under, the Company’s health care coverage for a period of one (1) year following the termination of the Executive’s employment (the “Medical Benefits Continuation Period”) on the same basis as
other senior executives of the Company. Notwithstanding the foregoing, if the Executive accepts employment with another entity that provides health care coverage during the Medical Benefits Continuation Period, the Company shall not provide the
Executive with health care coverage under this Section (but the Executive shall retain any rights to continuation coverage that he may have under applicable law). For purposes of the Executive’s continuation coverage rights under
Section 601 et. seq. of the Employee Retirement Income Security Act, Section 4980B of the Code, or any similar state or local law, the continuation period shall be deemed to have commenced as of the beginning of the period for which the
Company has agreed to continue benefits following the Executive’s termination of employment. To the extent that the coverage provided to the Executive is taxable for federal income tax purposes, then the Executive, shall pay the full cost of
coverage during the Medical Benefits Continuation Period and the Company shall pay the Executive (in cash, less required withholding) an amount equal to (i) the cost of such coverage, less any amount that would have been payable by the
Executive if he were actively employed by the Company, plus (ii) an additional amount designed to cover all estimated applicable local, state and federal income and payroll taxes imposed on the Executive with respect to such additional payment.
Any additional amount payable in accordance with this Section 5(h)(i)(B) shall be paid to the Executive in cash (less required withholding), on a monthly basis, at the same time that the underlying medical coverage benefit is provided to the
Executive. In determining the amount of 

  
 Page 12 of 16

 
such payment the Executive shall be deemed to pay federal income tax at the highest marginal rate applicable to individuals in the calendar year in which the payment is made and to pay state and
local income taxes at the highest effective rate in the state or locality in which such payment is taxable. All payments made under this Section 5(h)(i)(B) shall be made in accordance with the provisions of Treas. Reg. §1.409A-3(i)(1).

  
 (C) The Company shall pay to
the Executive, without duplication, (i) the Base Salary through the date of termination, (ii) any incentive compensation earned but unpaid as of the date of termination for any fiscal year prior to the year in which such termination
occurs; (iii) reimbursement for any unreimbursed business expenses properly incurred by the Executive prior to the date of termination (in accordance with Section 3(c) hereof); and (iv) such employee benefits and accrued leave, if
any, to which the Executive is entitled under the employee benefit plans and arrangements of the Company (in accordance with Section 3(d)(i), (ii) and (iii) hereof) (the amounts described in clauses (i) through (iv) hereof
being referred to as the “Accrued Rights”). 
  
 (ii) Without Good Cause (In Connection With A Change In Control). In the event the Executive’s employment is terminated by the Company without “Good Cause,” or by the
Executive for “Good Reason,” within twelve (12) months following a Change in Control, then the following provisions shall apply: 
  

(A) The Company shall pay to the Executive an amount equal to twenty-four (24) months of the Executive’s
Current Base Salary (as defined in Section 5(h)(i)(A) above). Such payment shall be made in a single lump sum following the Executive’s execution and delivery of the release provided for in Section 5(h)(iv), which has become
irrevocable by its terms in conformance with the provisions of Section 409A of the Code, at the time specified in Section 5(h)(iv). 
  

(B) The Company shall pay to the Executive a prorated portion of the cash incentive (including, for
this purpose, the annual component and any partial quarterly component) otherwise payable to the Executive for the fiscal year of termination under the Annual Incentive Plan (or any replacement bonus arrangement covering the Executive). Such amount
shall be determined based on Company performance consistent with the cash incentive paid under the Annual Incentive Plan to comparable active executives in good standing who meet expectations and remained on the payroll and eligible for a bonus. The
amount payable shall be determined by multiplying the cash incentive that the Executive would have received had his employment not terminated, by a fraction, the numerator of which is the number of months in the fiscal year (in the case of the
annual component) or fiscal quarter (in the case of the quarterly component) during which Executive was employed (including the month in which the termination occurs) and the denominator of which is twelve (in the case of the annual component) or
three (in the case of the quarterly component). The amount payable to the Executive in accordance with this Section shall be paid in a lump sum on the date on which the Company pays bonuses for the fiscal year of termination to actively employed
senior executives; provided, however, in no event shall such payment be made more than 2 1/2 months following the close of the fiscal year of the Company to which such bonus relates. 
  

(C) The Company shall pay to the Executive an amount equal to two (2) times the average cash incentive (including,
for this purpose, any quarterly and annual components) actually paid to the Executive under the Annual Incentive Plan for the five (5) fiscal years immediately preceding the year of termination. Subject to the provisions of Paragraph 6(j) of
this Agreement, such payment shall be made in a single lump sum following the Executive’s execution and delivery of the release provided for in Section 5(h)(iv), which has become irrevocable by its terms in conformance with the provisions
of Section 409A of the Code, at the time specified in Section 5(h)(iv). 
  
 (D) The Executive shall be entitled to the payments and benefits described in Section 5(h) (i) (B) and 5(h) (i) (C) above. 

  
 Page 13 of 16

 (iii) Good Cause. In the event the Executive’s employment
is terminated (i) by the Company for Good Cause, or (ii) by the Executive without Good Reason, then the Company shall have no duty to make any payments or provide any benefits to the Executive pursuant to this Agreement (other than the
Accrued Rights). 
  
 (iv)
Release. As a condition of receiving the payment provided for in Sections 5(h)(i)(A) and 5(h)(ii)(A) and (C), the Executive agrees to release the Company and its Affiliates, officers, directors, stockholders, employees, agents,
representatives, and successors from and against any and all claims that the Executive may have against any such Person relating to the Executive’s employment by the Company and the termination thereof, such release to be in form and substance
reasonably satisfactory to the Company. Subject to the provisions of Paragraph 6(j) of this Agreement, the first payment provided for in Sections 5(h)(i)(A) and 5(h)(ii)(A) and (C) shall be made on the Company’s first regular payroll date
following the sixtieth (60th) day after the termination date (and will include any payment installment that would have otherwise been paid during the period following the termination date through the date of the first payment), provided that
the release is irrevocable as of such date. 
  
 (i) No Disparaging Comments. During the Employment Period and at all times thereafter, the Executive shall refrain from making any disparaging remarks about the businesses, services,
products, members, managers, officers, directors, employees or other personnel of the Company and/or its Affiliates. 
  

6. Miscellaneous. 
  

(a) ARBITRATION. SUBJECT TO THE RIGHTS UNDER SECTION 4(e) TO SEEK INJUNCTIVE OR OTHER EQUITABLE RELIEF AS
SPECIFIED IN THIS AGREEMENT, ANY DISPUTE BETWEEN THE PARTIES HERETO ARISING UNDER OR RELATING TO THIS AGREEMENT (INCLUDING, BUT NOT LIMITED TO, THE AMOUNT OF DAMAGES, THE NATURE OF THE EXECUTIVE’S TERMINATION OR THE CALCULATION OF ANY BONUS OR
OTHER AMOUNT OR BENEFIT DUE) SHALL BE RESOLVED IN ACCORDANCE WITH THE MODEL EMPLOYMENT ARBITRATION PROCEDURES OF THE AMERICAN ARBITRATION ASSOCIATION. ANY RESULTING HEARING SHALL BE HELD IN THE JURISDICTION APPROPRIATE TO THE PRINCIPAL LOCATION AT
WHICH THE EXECUTIVE PROVIDED HIS SERVICES HEREUNDER (CURRENTLY ARLINGTON, VIRGINIA). THE RESOLUTION OF ANY DISPUTE ACHIEVED THROUGH SUCH ARBITRATION SHALL BE BINDING AND ENFORCEABLE BY A COURT OF COMPETENT JURISDICTION. COSTS AND FEES INCURRED IN
CONNECTION WITH SUCH ARBITRATION SHALL BE BORNE BY THE PARTIES AS DETERMINED BY THE ARBITRATION. 
  

(b) Indemnification and Insurance. During the Employment Period, the Company shall provide directors’
and officers’ liability insurance covering the Executive and errors and omissions insurance covering the activities of the Executive in the exercise of the Executive’s duties in the interest of the Company comparable to and no less
favorable to the Executive than similar insurance provided by the Company to or for other senior executives of the Company. 
  

(c) Entire Agreement. This Agreement and the agreements, schedules and exhibits incorporated herein by
reference contain the entire agreement between the Executive and the Company with respect to the subject matter hereof, and supersede any and all prior understandings or agreements, whether written or oral, including, without limitation, the
Severance Compensation Agreement between the Company and the Executive. No modification or addition hereto or waiver or cancellation of any provision hereof shall be valid except by a writing signed by the party to be charged therewith. 

 
 (d) Waiver. No waiver by
either party hereto of any of the requirements imposed by this Agreement on, or any breach of any condition or provision of this Agreement to be performed by, the other party shall be deemed a waiver of a similar or dissimilar requirement, provision
or condition of this Agreement at the same or any prior or subsequent time. Any such waiver shall be express and in writing, and there shall be no waiver by conduct. Pursuit by either party of any available remedy, either in law or equity, or any
action of any kind, does not constitute waiver of any other remedy or action. Such remedies are cumulative and not exclusive. 

  
 Page 14 of 16

 (e) Governing Law. The validity, interpretation, construction
and performance of this Agreement shall be governed by the laws of the Commonwealth of Virginia applicable to contracts executed by, and to be performed entirely within, said State, without regard to principles of conflict of laws. 

 
 (f) Successors and Assigns; Binding
Agreement. The rights and obligations of the parties under this Agreement shall be binding upon and inure to the benefit of the parties hereto and their heirs, personal representatives, successors and permitted assigns. This Agreement is a
personal contract, and, except as specifically set forth herein, the rights and interests of the Executive herein may not be sold, transferred, assigned, pledged or hypothecated by any party without the prior written consent of the others. As used
herein, the term “successor” as it relates to the Company, shall include, but not be limited to, any successor by way of merger, consolidation, and sale of all or substantially all of such Person’s assets or equity interests. The
Company may only assign this Agreement with the Executive’s consent. 
  
 (g) Representation by Counsel. Each of the parties hereto acknowledges that (i) it or he has read this Agreement in its entirety and understands all of its terms and conditions,
(ii) it or he has had the opportunity to consult with any individuals of its or his choice regarding its or his agreement to the provisions contained herein, including legal counsel of its or his choice, and any decision not to was his or its
alone, and (iii) it or he is entering into this Agreement of its or his own free will, without coercion from any source. 
  

(h) Interpretation. The parties and their respective legal counsel actively participated in the negotiation
and drafting of this Agreement, and in the event of any ambiguity or mistake herein, or any dispute among the parties with respect to the provisions hereto, no provision of this Agreement shall be construed unfavorably against any of the parties on
the ground that he, it, or his or its counsel was the drafter thereof. 
  
 (i) Notices. All notices and communications hereunder shall be in writing and shall be deemed properly given and effective when received, if sent by facsimile or telecopy, or by postage
prepaid by registered or certified mail, return receipt requested, or by other delivery service which provides evidence of delivery, as follows: 
  

If to the Company, to: 
  

CACI International Inc 
 1100 N. Glebe Road 
 16th Floor 

 
 Arlington, Virginia 22201 

Attention: General Counsel 
  

If to the Executive, to: 
  

Kenneth Asbury 
 10425 Boswell Lane 
 Potomac, MD 20854 

 
 or to such other address as one party may provide in writing to the other
party from time to time. 
  
 (j)
Compliance with Section 409A. To the extent that Section 409A of the Code applies to any election or payment required under this Agreement, such payment or election shall be made in conformance with the provisions of
Section 409A of the Code. Certain provisions of this Agreement are intended to constitute a short-term deferral under Treas. Reg. §1.409A-1(b)(4) or a separation pay arrangement that does not provide for the deferral of compensation
subject to Section 409A of the Code (under the short-term deferral exception). In order for the short-term deferral exception to apply, payments must be completed within two and a half months after the close of the year in which
Executive’s separation from service occurs. If any such provision is subject to more than one interpretation or construction, such ambiguity shall be resolved in favor of that interpretation or construction which is consistent with such
provisions not being subject to the provisions of Section 409A. The remaining provisions of this Agreement are intended to 

  
 Page 15 of 16

 
comply with the provisions of Section 409A of the Code (to the extent applicable) and, to the extent that Section 409A applies to any provision of this Agreement and such provision is
subject to more than one interpretation or construction, such ambiguity shall be resolved in favor of that interpretation or construction which is consistent with the provision complying with the applicable provisions of Section 409A of the
Code (including, but not limited to the requirement that any payment made on account of the Executive’s separation from service (within the meaning of Section 409A(a)(2)(A)(i) of the Code and the regulations issued thereunder)
(“Separation from Service”), shall not be made earlier than the first business day of the seventh month following the Executive’s Separation from Service, or if earlier the date of death of the Executive). Any payment that is delayed
in accordance with the foregoing sentence shall be made on the first business day following the expiration of such six (6) month period. 
  

(k) Withholding Taxes. All amounts payable hereunder shall be subject to the withholding of all applicable
taxes and deductions required by any applicable law. 
  
 (l) Tax Consequences of Payments. Executive understands and agrees that the Company makes no representations as to the tax consequences of any compensation or benefits provided hereunder
(including, without limitation, under Section 409A of the Code, if applicable). Executive is solely responsible for any and all income, excise or other taxes imposed on Executive with respect to any and all compensation or other benefits
provided to Executive. 
  
 (m)
Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument. 

 
 (n) Duration. Notwithstanding
the Employment Term hereunder, this Agreement shall continue for so long as any obligations remain under this Agreement. 
  

(o) Section References. The word Section herein shall refer to provisions of this Agreement unless expressly
indicated otherwise. 
  
 (p)
Captions. Section headings are for convenience only and shall not be considered a part of this Agreement. 
  

IN WITNESS WHEREOF, the parties have duly executed this Agreement, intending it as a document under seal, as of the date first
above written. 
  

									
	 /s/    SANDRA A. LOPEZ
	 		 	By:	 	 /s/    ARNOLD MORSE
	 	(SEAL)
		 		 		 	Name: Arnold Morse	 	
		 		 		 	Title: SVP, CLO	 	
				
		 		 	EXECUTIVE	 	
	 /s/    J. WILLIAM
KOEGEL
	 		 		 	 /s/    KENNETH ASBURY
	 	(SEAL)
		 		 		 	Kenneth Asbury	 	

  
 Page 16 of 16EX-10.1

 Exhibit 10.1 
 EXECUTION COPY 
 AMENDED AND RESTATED 

EMPLOYMENT AGREEMENT 
 THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this “Agreement”) is entered into as of August 26, 2013, by and between Celator Pharmaceuticals, Inc. (the “Company”), a Delaware
corporation with offices at 200 PrincetonSouth Corporate Center, Suite 180, Ewing, NJ 08628, and Scott T. Jackson, an individual residing at 535 Heron Court, Harleysville, PA 19438 (the “Executive”) (the Company and the Executive,
together, the “Parties”). 
 Recitals: 

The Executive has been employed by the Company pursuant to a letter agreement dated as of September 20, 2007, as amended (the
“Prior Agreement”). The Parties desire to enter into this Agreement to provide for the continued employment of the Executive by the Company and for certain other matters in connection with such employment, all as set forth more fully in
this Agreement. 
 In consideration of the mutual promises, covenants, and conditions set forth in this Agreement, the Parties
agree as follows: 
  

	Section 1.	EMPLOYMENT POSITION, DUTIES AND RESPONSIBILITIES 

 a. Position. The Company wishes to continue to employ the Executive as the Chief Executive Officer (“CEO”) of the Company, and the Executive hereby agrees to continue in the position of
CEO for the Term of this Agreement. In this role, the Executive shall have general overall authority and responsibility for the day-to-day management of the Company’s business affairs in furtherance of the strategic policies adopted by the
Company’s Board of Directors (the “Board”) relating to the Company’s business operations, financial objectives and market growth. The Executive shall also perform those additional duties and responsibilities as shall be assigned
to the Executive by the Board and that are consistent with the Executive’s position as CEO. 
 b. The
Executive’s Commitment. The Executive shall consider his employment by the Company as his principal employment, shall devote his full working time and attention to his duties and responsibilities under this Agreement, and shall perform
those duties and responsibilities to the best of his abilities. While subject to any provision of this Agreement, the Executive shall maintain loyalty to the Company and shall take no action that would directly or indirectly promote any competitor
or injure the Company’s interests. Subject to the foregoing, the Executive may engage in other business and professional activities to the extent that they do not interfere with his obligations under this Agreement, provided that each of those
activities is first disclosed to and approved by the Board. Schedule A to this Agreement contains a list of the other business and professional activities in which the Executive is currently engaged. 

	Section 2.	TERM AND TERMINATION OF EMPLOYMENT 

 a. Term. The Executive’s employment with the Company shall commence on the date of this Agreement and shall continue until terminated in accordance with Section 2b, 2c, 2d or 2e hereof
(the “Term”). 
 b. Termination by the Company for “Reasonable Cause.” The Executive’s
employment may be terminated by the Company at any time upon a showing of “Reasonable Cause.” “Reasonable Cause” shall be defined for the purposes of this Agreement as being any of the following: 

(i) the Executive’s gross negligence or other misconduct that is materially injurious to the Company, monetarily or
otherwise, including but not limited to any act or omission by the Executive of fraud, theft, dishonesty, embezzlement, falsification of records or moral turpitude; 

(ii) the Executive’s willful violation of the Company’s bylaws, Code of Conduct or other Company policy that is
materially detrimental to the Company’s best interest, after receiving at least thirty (30) days of advance written notice and a reasonable opportunity to cure of an equivalent time period; 

(iii) the Executive’s intentional failure to perform any lawful duties assigned to him by the Board after receiving
at least ten (10) days of advance written notice and the opportunity to cure to the satisfaction of the Board of an equivalent time period; 
 (iv) the commission by the Executive of any act that constitutes a felony under the laws of the United States or the State of the Company’s principal place of business; and 

(v) any material breach by the Executive of Section 5, 6, 7, 8 or 11 of this Agreement. 

Furthermore, the resignation by the Executive from his employment with the Company for any reason other than for Good Reason pursuant to and in
accordance with the provisions of Section 2d shall be deemed to be a termination of the Executive’s employment for “Reasonable Cause” without any notice or other action on the part of the Company. 

c. Termination Due to Death or Disability. The Executive’s employment hereunder shall terminate immediately upon the death or
disability of the Executive. The Executive shall be deemed to be disabled if, in the reasonable judgment of the Board, the Executive is unable to perform the essential functions of his job with or without a reasonable accommodation for a period of
at least one hundred twenty (120) consecutive days because of illness, incapacity or physical or mental disability. 

d. Termination by the Executive for “Good Reason”. The Executive may resign from his employment with the Company for
“Good Reason,” but only in accordance with the terms of this Section 2d. “Good Reason” shall be deemed to exist with respect to any termination by the Executive of his employment for any of the following reasons:
(i) the relocation of the office of the Company at which the Executive is principally based to a location that is more than 

  
 2 

 
fifty (50) miles from the location of the Company’s office as of the date of this Agreement provided that such new location is more than fifty (50) miles from the location of the
Executive’s primary residence as of the date of this Agreement; (ii) any failure by the Company to comply in all material respects with any material term of this Agreement; (iii) the demotion of the Executive to a lesser position than
described in Section 1a hereof or a substantial diminution of the Executive’s authority, duties or responsibilities as in effect on the date of this Agreement; or (iv) a material diminution of the Executive’s Base Salary and
benefits, in the aggregate, unless such reduction is part of a Company-wide reduction in compensation and/or benefits for all of its senior executives; provided, however, that “Good Reason” shall not include a termination of the
Executive’s employment pursuant to Sections 2b or 2c hereof or, following a Change of Control (as defined in Section 4d below), a reduction in title, position, responsibilities or duties solely by virtue of the Company being acquired and
made part of, or operated as a subsidiary or division of, a larger company or organization, so long as such new duties and responsibilities are reasonably commensurate with the Executive’s experience. The Executive may not resign with Good
Reason pursuant to this Section 2d, and shall not be considered to have done so for any purpose of this Agreement, unless (A) the Executive, within sixty (60) days after the initial existence of the act or failure to act by the
Company that constitutes “Good Reason” within the meaning of this Agreement, provides the Company with written notice that describes, in particular detail, the act or failure to act that the Executive believes to constitute “Good
Reason” and identifies the particular clause of this Section 2d that the Executive contends is applicable to such act or failure to act; (B) the Company, within thirty (30) days after its receipt of such notice, fails or refuses
to rescind such act or remedy such failure to act so as to eliminate “Good Reason” for the termination by the Executive of his employment relationship with the Company, and (C) the Executive actually resigns from his employment with
the Company on or before that date that is six (6) calendar months after the initial existence of the act or failure to act by the Company that constitutes “Good Reason.” If the requirements of the preceding sentence are not fully
satisfied on a timely basis, then the resignation by the Executive from his employment with the Company shall not be deemed to have been for “Good Reason,” the Executive shall not be entitled to any of the benefits to which he would have
been entitled if he had resigned his employment with the Company for “Good Reason,” and the Company shall not be required to pay any amount that would otherwise have been due to the Executive under Section 4a had the Executive
resigned with “Good Reason.” 
 e. Other Termination. The Executive’s employment may also be terminated by
the Company for any reason other than as set forth in Section 2b, 2c or 2d, or upon the mutual written agreement of the Parties. 
  

	Section 3.	COMPENSATION, BENEFITS AND EXPENSES 

 a. Base Salary. The Company shall pay the Executive an annual gross base salary of $425,000 (the “Base Salary”), payable in accordance with the Company’s payroll practices in effect
from time to time. This Base Salary shall be reflected on the first regularly-scheduled pay date following the Effective Date of this Agreement, retroactive to June 3, 2013. The Executive’s Base Salary will be reviewed annually following
the Effective Date of this Agreement. At or about the time of such reviews, the Executive’s Base Salary may be adjusted upward or remain the same in the sole discretion of the Board. 

  
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 b. Annual Bonus. The Executive shall be eligible to receive an
annual bonus in an amount up to fifty percent (50%) of the Executive’s Base Salary, which bonus shall be prorated for 2013 based on the base salary payable under the Prior Agreement for the period January 1, 2013 through June 2,
2013 and the Base Salary payable under this Agreement from and after June 3, 2013. The amount of the annual bonus, if any, shall be determined by the Board in its sole discretion based upon achievement of corresponding annual goals; such annual
goals shall be established by the Board no later than the end of each first calendar quarter during the Term after considering input from the Executive. The bonus shall be paid in a single lump sum within two and one-half (2  1/2) months after the close of each fiscal year. 
 c. Annual Equity
Incentive Programs. The Executive shall be eligible to participate in equity incentive programs established by the Company from time to time to provide stock options and other equity-based incentives to key employees of the Company. All such
stock options and other equity-based incentives shall be awarded in the discretion of the Board pursuant to the terms of the Company’s 2013 Equity Incentive Plan and/or such other plans as shall from time to time be established by the
Company. 
 d. Participation in Employee Benefit Plans. The Executive may participate in and receive benefits
under any and all Company-sponsored health and welfare benefit plans (including but not limited to group healthcare (medical, prescription, dental, life, accidental death and dismemberment, and disability insurance plans), and other benefit plans
(including but not limited to 401(k)) that are offered to other key employees and officers of the Company, to the extent he is eligible thereunder and in accordance with all terms and conditions of such plans, policies and practices; provided,
however, that the Executive may not unilaterally amend, or direct the amendment of, any change in any of the foregoing plans, policies or practices to enhance the benefits available under such plans, policies and practices in any way without the
approval of the Board or its Compensation Committee. 
 e. Other Fringe Benefits. The Executive shall be entitled to
participate in all other fringe benefit programs of the Company on the same terms and conditions as are accorded to other officers and key employees of the Company, including but not limited to paid time away from work for Company-observed holidays,
sick days and bereavement in accordance with the provisions of the Company’s applicable policies and practices in effect from time to time. 
 f. Vacation. The Executive shall be entitled to twenty-five (25) days of paid vacation annually as of each January 1st during the Term of this Agreement, which days shall accrue and may be scheduled off in accordance with the
Company’s vacation policy; provided, however, that the Executive may not carry forward more than five (5) unused vacation days into any future calendar year without the prior written approval of the Board, which approval shall not be
unreasonably withheld; and further provided, however, that the Executive may not unilaterally amend, or direct the amendment of, any change in the Company’s vacation policy to enhance the benefits available under such policy in any way without
the approval of the Board or its Compensation Committee. 
 g. Withholdings. The Company shall withhold from any
amounts payable as compensation all federal, state, municipal income and employment taxes and other withholdings as are required by any law, regulation, or ruling. 

  
 4 

 h. Effect of Employment Termination on Payment of Base Salary and Benefits. The
Executive’s Base Salary under this Section 3 shall terminate effective immediately on the date of the termination of the Executive’s employment by the Company, and all benefits shall terminate on that date or thereafter in accordance
with the terms of the Company’s applicable benefit plans, policies and practices. Following the Executive’s employment termination, the Executive shall be entitled to severance pay and other benefits under Section 4 if and only to the
extent such severance pay and other benefits are then payable in accordance with the terms and provisions of this Agreement. 
 i. Effect of Termination on Other Provisions. This Agreement shall continue in effect upon and after the termination of the Executive’s employment for any reason necessary to enforce the
provisions of this Agreement that apply subsequent to any such termination, including any provisions relating to confidentiality, invention assignment, non-solicitation and non-competition. 

j. Expense Reimbursement. The Company shall timely reimburse the Executive for all out-of-pocket expenses incurred in connection
with the Company’s business and the Executive’s performance of his obligations under this Agreement in accordance with the Company’s expense reimbursement policies in effect from time to time. The Company shall also timely reimburse
the Executive for his out-of-pocket legal fees and expenses of up to $7,500.00 for legal review of this Agreement. 
  

	Section 4.	PAYMENTS AND BENEFITS UPON TERMINATION 

 a. Payments and Benefits upon Termination by the Company for Reasonable Cause or by Executive for Reasons other than for Good Reason. If: (i) the Executive’s employment under this
Agreement is terminated by the Company for Reasonable Cause pursuant to Section 2b; (ii) the Executive’s employment terminates pursuant to Section 2c due to his death or disability; or (iii) the Executive resigns from his
employment without Good Reason, as defined within Section 2d, the Executive will receive payment for any and all unpaid Base Salary earned through the effective date of such termination or resignation and a lump sum amount equivalent to the
full gross value of the Executive’s vacation remaining in his vacation bank upon the effective date of his termination, calculated and paid at the rate of his then-effective gross Base Salary, subject to all applicable income and employment
taxes and other required and elected withholdings, as soon as required by law but in no event later than the first regularly-scheduled pay date after the Termination Date. Should the Executive’s employment terminate pursuant to Section 2b
or 2c, or the Executive resigns from his employment without Good Reason, no severance or other unearned compensation shall be payable by the Company to the Executive, nor shall the Company be obligated to continue to reimburse the Executive for any
medical or dental insurance benefits after the last day of the month in which the effective date of the Executive’s termination occurs. 
 b. Payments and Benefits upon Termination Other than Following a Change in Control. Subject to the satisfaction of the terms of Section 4d, if: (i) the Executive’s employment under
this Agreement is terminated by the Company pursuant to Section 2e (i.e., other than a termination for Reasonable Cause pursuant to Section 2b or a termination upon death or disability pursuant to Section 2c), or (ii) the
Executive resigns from his employment with Good Reason 

  
 5 

 
pursuant to Section 2d, the Executive shall be entitled to receive from the Company the following payments and benefits that will commence within sixty (60) days following the
Executive’s effective date of termination: (A) a severance payment equal to the Executive’s annual gross Base Salary in effect at the time of his termination of employment, payable in installments on the Company’s regular
established pay days through the date that is twelve (12) months after the Executive’s effective date of termination; (B) reimbursement of the Executive’s medical and dental insurance premiums for the Executive and his eligible
dependents under the Company’s group insurance plans at the same level the Executive elected and as was in effect on the Executive’s effective termination date for a period of twelve (12) months after the Executive’s effective
date of termination, upon presentation to the Company of documentation of payment of such healthcare continuation coverage premiums to the Company’s third party administrator and subject to earlier termination in the event of the
Executive’s becoming eligible for the equivalent or greater coverage under another employer’s group health and welfare benefit plans; (C) reimbursement to the Executive of an amount not to exceed the total gross amount of $20,000 for
customized executive outplacement and/or executive coaching or transition services with a provider of Executive’s choosing upon the Company’s receipt of documentation of the services provided and evidence of payment; and (D) a lump
sum amount equivalent to the full gross value of the Executive’s vacation remaining in his vacation bank upon the effective date of his termination, calculated and paid at the rate of his then-effective gross Base Salary. 

c. Payments and Benefits upon Termination Following a Change in Control. Subject to the satisfaction of the terms of
Section 4d and the occurrence of a Change in Control, and in lieu of any amounts payable pursuant to Section 4(b), if: (i) the Executive’s employment under this Agreement is terminated by the Company pursuant to Section 2e
(i.e., other than a termination for Reasonable Cause pursuant to Section 2b or a termination upon death or disability pursuant to Section 2c) within six (6) months following a Change in Control, or (ii) the Executive resigns from
his employment with Good Reason pursuant to Section 2d within six (6) months following a Change in Control, the Executive shall be entitled to receive from the Company the following payments and benefits that will commence within sixty
(60) days following the Executive’s effective date of termination: (A) a severance payment equal to the Executive’s annual gross Base Salary in effect at the time of his termination of employment, payable in one lump sum within
ten (10) days after the closing of a Change of Control; (B) an amount equal to the projected total amount of the Executive’s annual target bonus for the calendar year in which the Executive’s employment termination occurs,
payable in a single lump sum on the first regularly-scheduled pay date that occurs on or after sixty (60) calendar days following the Executive’s effective termination date; (C) reimbursement of the Executive’s medical and dental
insurance premiums for the Executive and his eligible dependents under the Company’s group insurance plans at the same level the Executive elected and as was in effect on the Executive’s effective termination date for a period of twelve
(12) months, upon presentation to the Company of documentation of payment of such healthcare continuation coverage premiums to the Company’s third party administrator and subject to earlier termination in the event of the Executive’s
becoming eligible for equivalent or greater coverage under another employer’s group health and welfare benefit plans; (D) reimbursement to the Executive of an amount not to exceed the total gross amount of $20,000 for customized executive
outplacement and/or executive coaching or transition services with a provider of the Executive’s choosing upon the Company’s receipt of documentation of the services provided and evidence of payment; and (E) a lump sum amount
equivalent to the full gross value of the Executive’s vacation remaining in his vacation bank upon the effective date of his termination, calculated and paid at the rate of his then-effective gross Base Salary. 

  
 6 

 d. Execution of Release. The Executive shall not be entitled to any payments or
benefits under Section 4b or 4c above unless the Executive timely executes, within forty-five (45) days after the effective date of the termination of the Executive’s employment, and does not revoke, a Separation Agreement and Release
(the “Release Agreement”), including but not limited to the following terms: 
 (i) an
unconditional and mutual release of all waivable rights to any claims, charges, complaints, grievances, whether known or unknown to the Executive against the Company, its affiliates and assigns, and whether known or unknown to the Company against
the Executive, his heirs, executors, personal representatives, administrators, agents, and assigns, through the date of the Executive’s termination of employment other than post-termination payments and benefits pursuant to and in accordance
with this Agreement and other earned compensation; 
 (ii) a representation and warranty that the Executive has
not filed or assigned any claims, charges, complaints or grievances against the Company, its affiliates or assigns, except to the extent such representations and warranties are prohibited by law; 

(iii) an agreement not to use, disclose or make copies of any confidential information of the Company, as well as to
return any such confidential information and property to the Company and to maintain the confidentiality of the Release; 
 (iv) a mutual agreement for the Executive not to make any false or defamatory remarks regarding the Company or any of its directors and executive officers and for the Company and its directors and
executive officers not to make any false or defamatory remarks about the Executive; and 
 (v) an agreement that
the Release Agreement shall not be construed as an admission by the Company, by the Executive, or by any other release of any wrongdoing. 
 The
Release Agreement shall not release the Executive from any of his obligations under this Agreement that survive the termination of the Executive’s employment by the Company. Notwithstanding any provision of this Agreement to the contrary, in no
event shall the timing of the Executive’s execution of the Release Agreement, directly or indirectly, result in the Executive designating the calendar year of payment, and if a payment that is subject to execution of the Release could be made
in more than one taxable year, payment shall be made in the later taxable year. 
 e. Definition of Change of Control. As
used in this Agreement, the term “Change of Control” shall be defined to mean any of the following: 
 (i) any merger or consolidation in which voting securities of the Company possessing more than 50% of the total combined voting power of the Company’s outstanding securities are transferred to a
person or persons different from the person holding those securities immediately prior to such transaction and the composition of the Board following such transaction is such that the directors of the Company prior to the transaction constitute less
than 50% of the Board membership following the transaction; or 

  
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 (ii) any acquisition, directly or indirectly, by a person or related group
of persons (other than the Company or a person that directly or indirectly controls, is controlled by, or is under common control with, the Company) of beneficial ownership of voting securities of the Company possessing more than 50% of the total
combined voting power of the Company’s outstanding securities; provided, however, that, no Change of Control shall be deemed to occur by reason of the acquisition of shares of the Company’s capital stock by an investor or group of
investors in the Company in a capital-raising transaction. 
 f. Salary Continuation. The salary continuation set forth
in Section 4a above shall be intended either (i) to satisfy the safe harbor set forth in the regulations issued under section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) (Treas. Regs. 1.409A-1(n)(2)(ii)) or
(ii) be treated as a Short-term Deferral as that term is defined under Code section 409A (Treas. Regs. 1.409A-1(b)(4)). To the extent such continuation payments exceed the applicable safe harbor amount or do not constitute a Short-term
Deferral, the excess amount shall be treated as deferred compensation under Code section 409A and as such shall be payable pursuant to the following schedule: such excess amount shall be paid via standard payroll in periodic installments in
accordance with the Company’s usual practice for its senior executives. Notwithstanding anything herein to the contrary, (i) if at the time of the Executive’s termination of employment with the Company, the Executive is a
“specified employee” as defined in Code section 409A, and the deferral of the commencement of any payments or benefits otherwise payable hereunder as a result of such termination of employment is necessary in order to prevent any
accelerated or additional tax under Code section 409A, the Company will defer the commencement of the payment of any such payments or benefits hereunder (without any reduction in such payments or benefits ultimately paid or provided to the
Executive) until the date that is six months after the termination of the Executive’s employment with the Company (or the earliest date that is permitted under Code section 409A), and (ii) if any other payments of money or other benefits
due to the Executive under this Agreement could cause the application of an accelerated or additional tax under Code section 409A, such payments or other benefits shall be deferred if deferral will make such payment or other benefits compliant under
Code section 409A, or otherwise such payment or other benefits shall be restructured, to the extent possible, in a manner that is determined by the Board in consultation with the Company’s professional advisors not to cause such an accelerated
or additional tax. In the event that payments under this Agreement are deferred pursuant to this Section 4e in order to prevent any accelerated or additional tax under Code section 409A, such payments shall be paid at the time specified in this
Section 4e without any interest. The Company shall consult with the Executive in good faith regarding the implementation of this Section 4; provided, however, that none of the Company, its directors, officers, employees or advisors shall
have any liability to the Executive with respect to this Section 4e. 
 g. Parachute Provisions. Notwithstanding
anything herein to the contrary, in the event that the Executive receives any payments or distributions, whether payable, distributed or distributable pursuant to the terms of this Agreement or otherwise, that constitute “parachute
payments” within the meaning of Section 280G of the Code, and the net after tax amount of the  

  
 8 

 
parachute payment is less than the net after-tax amount if the aggregate payment to be made to the Executive were three times the “base amount” (as defined in Section 280G(b)(3) of
the Code), less $1.00, then the aggregate of the amounts constituting the parachute payment shall be reduced to an amount that will equal three times the Executive’s base amount, less $1.00. To the extent the aggregate of the amounts
constituting the parachute payments are required to be so reduced, the amounts provided under this Agreement shall be reduced (if necessary, to zero) with amounts that are payable first reduced first; provided, however, that, in all events the
payments provided under this Agreement which are not subject to Section 409A shall be reduced first. The determinations to be made with respect to this Section shall be made by a certified public accounting firm mutually agreed upon by the
Executive and the Company. 
  

	Section 5.	CONFIDENTIALITY AND INVENTIONS 

 a. Confidential Information. “Confidential Information” means trade secrets, know-how and other information relating to the Company’s business and not generally available to the
public that are or have been disclosed to the Executive or with which the Executive becomes or has become familiar as a result of his employment with the Company. Confidential Information includes, but is not limited to, information relating to the
Company’s business practices and prospective business interests, products, processes, equipment, manufacturing, marketing programs, research, product development, engineering and intellectual property. At any time during or after the
Executive’s term of employment, unless the Executive receives the Company’s prior written consent, the Executive agrees that he will not disclose, use, disseminate, lecture upon or publish any part of the Company’s Confidential
Information, whether or not developed by the Executive, unless the same is already in the public domain not as a result of the Executive’s disclosure. Also, the Executive will have the same obligations with respect to the secret or confidential
information of any other company or individual (including both the Company’s affiliates and third parties), to which the Executive gains or has gained access in connection with the Executive’s employment. The Executive agrees that he will
not disclose to the Company or induce the Company to use any secret confidential information of others, including former employers, with whom the Executive has obligations of secrecy. 

b. Inventions. 
 (i) For purposes of this Section 5b, the term “Inventions” collectively means any and all ideas, concepts, inventions, discoveries, developments, know how, structures, designs, formulas,
algorithms, methods, products, processes, systems and technologies in any stage of development that are conceived, developed or reduced to practice by the Executive alone or with others during the Term of this Agreement and any and all patents,
patents pending, copyrights, moral rights, trademarks and any other intellectual property rights therein; and any and all improvements, modifications, derivative works from, other rights in and claims related to any of the foregoing under the laws
of any jurisdiction. 
 (ii) The Executive agrees to disclose promptly to the Company all ideas and inventions
that the Executive believes or should believe to be Inventions along with all relevant records thereof. The Executive hereby assigns and transfers to the Company, without further consideration, the Executive’s entire right, title and interest
(throughout the United States and Canada and in all other countries and jurisdictions), free and clear of all 

  
 9 

 
liens and encumbrances, in all and to all Inventions. Such Inventions shall be the sole property of the Company, whether or not copyrightable or patentable or in a commercial stage of
development. In addition the Executive agrees to maintain adequate current written records on the development of all Inventions, which shall also remain the sole property of the Company. 

(iii) In the event any Invention shall be deemed by the Company to be copyrightable or patentable or otherwise
registrable, the Executive will assist the Company in obtaining and maintaining letters patent or other applicable registrations and in vesting the Company with full title. Should the Company be unable to secure the Executive’s signature on any
document necessary to apply for, prosecute, obtain, or enforce any patent, copyright or other right or protection relating to any Invention, due to the Executive’s incapacity or any other cause, the Executive hereby irrevocably designates and
appoints the Company and each of its duly authorized officers and agents as the Executive’s agent and attorney-in-fact to do all lawfully permitted acts to further the prosecution, issuance, and enforcement of patents, copyrights, or other
rights or protection with the same force and effect as if executed and delivered by the Executive. 
 (iv) The
Executive agrees that any idea, invention, writing, discovery, patent, copyright, trademark or similar item, or improvement shall be presumed to be an Invention if it is conceived, developed, used, sold, exploited or reduced to practice by the
Executive or with the Executive’s aid within the one-year period commencing on the date of the termination of the Executive’s employment hereunder and if it relates to any business in which the Company was engaged as of such date. The
Executive agrees to disclose such idea, invention, writing, discovery, patent, copyright, trademark or similar item promptly to the Company along with all relevant information and records and the Company will examine the disclosure in confidence to
determine if in fact it is an Invention subject to this Agreement. The Executive can rebut the above presumption if the Executive proves that the idea, writing, discovery, patent, copyright or trademark or similar item or improvement is not an
Invention covered by this Agreement. 
 c. Conflicts of Interest. During the Executive’s employment with the
Company, the Executive will promptly, fully and frankly disclose to the Company in writing: 
 (i) the nature and
extent of any interest the Executive has or may have, directly or indirectly, in any contract or transaction or proposed contract or transaction of or with the Company, or its partners, subsidiaries or affiliates; 

(ii) every office the Executive may hold or acquire, and every property the Executive may possess or acquire, whereby
directly or indirectly, by which a duty or interest might be created in conflict with the interests of the Company (or its partners, subsidiaries or affiliates), or the Executive’s duties and obligations under this Agreement; and 

(iii) the nature and extent of any conflict referred to in Section 5c(ii) above. 

  
 10 

 d. Avoidance of Conflicts of Interest. The Executive acknowledges that it is the
policy of the Company that all conflicts of interest of the sort described in Section 5c be avoided, and the Executive agrees to comply with all policies and reasonable directives of the Company from time to time regulating, restricting or
prohibiting circumstances giving rise to conflicts of interest of the sort described in Section 5c. The Executive agrees that he will not enter into any agreement, arrangement or understanding with any other person or entity that would in any
way conflict or interfere with this Agreement or the Executive’s duties or obligations under this Agreement or that would otherwise prevent the Executive from performing the Executive’s obligations hereunder, and the Executive represents
and warrants that the Executive has not entered into any such agreement, arrangement or understanding. 
 e. Documents.
The Executive acknowledges that all originals and copies of drawings, blueprints, manuals, reports, notebooks, computer programs, photographs and any other recorded, written or printed matter relating to research, manufacturing operations, or the
business affairs of the Company made or received by the Executive during the Executive’s employment are the property of the Company. The rights comprised in the copyright of any of the above documents made by the Executive during the
Executive’s employment shall be owned exclusively by the Company. The Executive agrees to promptly surrender such property at the request of the Company and will not retain such property or copies thereof after termination of the Term of the
Executive’s employment. The Executive agrees to similarly return all other property of the Company such as equipment, samples and models. 
  

	Section 6.	RESTRICTIVE COVENANT 

From and after the date of this Agreement and through the one (1) year period after the termination of the Term of the
Executive’s employment hereunder, the Executive shall not engage in any “Competitive Business.” As used in this Agreement, a “Competitive Business” shall mean any business or enterprise engaged in the development,
manufacture, commercialization, marketing or sale of fixed ratio combination cancer therapies or products or services based on nanoparticle technologies or any other technology, product or service that is directly competitive with the business in
which the Company is actively engaged during the Term of the Executive’s employment, including but not limited to any product or service in pre-clinical development or in clinical development, commercialized, marketed or sold by the Company
during the Term; provided, however, that the foregoing restriction shall not be construed to prohibit the Executive’s ownership of not more than 1% of any class of securities of any company that is engaged in any of the foregoing businesses,
having a class of securities that are publicly owned and regularly traded on any recognized securities exchange or in the over-the-counter market, but only if such ownership represents a passive investment and the Executive does not, in any way,
either directly or indirectly, manage or exercise control over any such company, guarantee any of its financial obligations, otherwise take part in its business. The Executive is entering into this covenant not to compete to continue his undertaking
under the Prior Agreement and in consideration of the agreements of the Company in this Agreement, including but not limited to the substantial increase in the Executive’s Base Salary and the agreement of the Company to pay increased severance
benefits to the Executive upon a termination of the Executive’s employment pursuant to Section 4b and 4c hereof. 

  
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	Section 7.	NON-SOLICITATION 

 a.
Non-Solicitation of Customers and Other Third Parties. From and after the date of this Agreement and through the one (1) year period after the termination of the Executive’s employment with the Company, the Executive shall not solicit,
entice or induce any person, company or other entity with which, at any time during the twelve (12) months immediately preceding the date of the Executive’s termination, the Company has had any contractual or other business relationship,
whether as a strategic partner, collaborator, customer or otherwise, into refraining from or reducing its business or relationship with the Company, or to terminate its relationship with the Company, and the Executive shall not approach any such
person, company or other entity on behalf of any Competitive Business for any such purpose or authorize or knowingly approve the taking of such actions by any other person or entity. 

b. Non-Solicitation of Employees. From and after the date of this Agreement and through the one (1) year period after the
termination of the Executive’s employment with the Company, the Executive shall not solicit, entice or induce any person, whom at any time during the twelve (12) months immediately preceding the termination, was or remains an employee of
the Company to become employed or engaged by the Executive or any person, firm, company or association in which the Executive has an interest, and the Executive shall not approach any such person for any such purpose or authorize or knowingly
approve the taking of such actions by any other person or entity. 
  

	Section 8.	REPRESENTATION AND WARRANTY BY THE EXECUTIVE 

 The Executive hereby represents and warrants to the Company, the same being part of the essence of this Agreement that, as of the date of this Agreement, the Executive is not a party to any agreement,
contract or understanding, and that no facts or circumstances exist, that would in any way restrict or prohibit him in any material way from undertaking or performing any of his obligations under this Agreement. The foregoing representation and
warranty shall remain in effect throughout the Term of the Executive’s employment hereunder. 
  

	Section 9.	REMEDIES 

 a. Equitable
Relief. The Parties acknowledge and agree that irreparable harm would result in the event of a breach or threat of a breach by the Executive of Section 5, 6, 7, 10, 11 or 12 of this Agreement or the making of any untrue representation or
warranty by the Executive in this Agreement. Therefore, in any such event, and notwithstanding any other provision of this Agreement: 
 (i) the Company shall be entitled to a restraining order, order of specific performance, or other injunctive relief, without showing actual damage and without bond or other security; and 

(ii) the Company’s obligation to make any payment or provide any benefit under this Agreement or the Release
Agreement, including without limitation any severance benefits and insurance reimbursements, shall immediately cease. 

  
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 b. Remedies Not Exclusive. The Company’s remedies under this Section 9 are
not exclusive, and shall not prejudice or prohibit any other rights or remedies under this Agreement or otherwise. To the extent required to be enforceable by applicable law, the cessation of the Company’s obligation to make payments or
continue benefits under this Section 9 shall be deemed to be in the nature of liquidated damages. 
  

	Section 10.	RETURN OF COMPANY PROPERTY 

Immediately upon termination of the Term of the Executive’s employment or upon the Company’s earlier request, the Executive
shall return to the Company all Confidential Information and other items described in Section 5 and all originals and copies of any other property or information owned by the Company or relating to its business, that the Executive has in his
possession or under his control, including all credit cards, papers, books, equipment, files, supplies and samples. 
  

	Section 11.	CONFIDENTIAL AGREEMENT 

This Agreement is confidential. The Executive shall keep its provisions confidential and shall not disclose them to anyone, including but
not limited to any past, present, or prospective employee of the Company; provided, that this Section 11 shall not prohibit the Executive from discussing this Agreement in confidential communications with his spouse, attorneys, accountants, or
other professional advisors, provided that the provisions of Section 5 and Section 9 shall at all times apply to communications with any such persons. 
  

	Section 12.	MISCELLANEOUS PROVISIONS 

a. Notices. Unless otherwise agreed in writing by a Party entitled to notice, all notices required by this Agreement shall be in
writing and shall be deemed given when physically delivered to and acknowledged by receipt by the party, delivered by a national overnight delivery service, or when deposited postage paid, registered or certified mail, addressed to the party at its
principal business or residence as set forth in the Company’s records or as known to or reasonably ascertainable by the Party required to give notice. 
 b. General Rules of Construction. The Parties have participated jointly in negotiating and drafting of this Agreement. If a question concerning intent or interpretation arises, no presumption or
burden of proof shall arise favoring or disfavoring a Party by virtue of authorship. Any reference to any federal, state, local, or foreign statute or law shall be deemed also to refer to all related rules and regulations unless the context requires
otherwise. 
 c. Meaning of Certain Words. The word “including” shall mean “including without
limitation.” Any reference herein to a period of days shall mean calendar days unless otherwise expressly stated. 
 d.
Waivers. No assent, express or implied, by a Party to any breach or default under this Agreement shall constitute a waiver of or assent to any breach or default of any other provision of this Agreement or any breach or default of the same
provision on any other occasion. 

  
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 e. Binding Effect; No Third Party Beneficiaries. This Agreement shall bind and
benefit the Parties and their respective heirs, devisees, beneficiaries, grantees, donees, legal representatives, successors, and assigns. Nothing in this Agreement shall be construed to confer any rights or benefits on third party beneficiaries.

 f. Assignment. Neither Party may assign this Agreement or any interest herein without the other’s prior written
consent; provided that the Company may assign its interest to another entity that it controls, is controlled by, or is under common control with or to a successor in interest upon a Change of Control. 

g. Captions. Titles or captions contained in this Agreement are for convenience and are not intended to affect the substantive
meaning of any provision. 
 h. Severability. If any provision of this Agreement is found by a court or other tribunal of
competent jurisdiction to be invalid or unenforceable, the attempt shall first be made to read that provision in such a way as to make it valid and enforceable in light of the Parties’ apparent intent as evidenced by this Agreement. If such a
reading is impossible, the tribunal having jurisdiction may revise the provision in any reasonable manner, to the extent necessary to make it binding and enforceable. If no such revision is possible, the offending provision shall be deemed stricken
from this Agreement, and every other provision shall remain in full force and effect. 
 i. Survival. The provisions of
this Agreement that by their terms are intended to continue beyond the termination of the Executive’s employment, including but not limited to Section 5, 6, 7, 8, 9, 10, 11 and 12 hereof, shall survive such termination of employment and
shall continue in effect for the respective periods therein provided or contemplated. 
 j. Section 409A. It is
intended that this Agreement be drafted and administered in compliance with section 409A of the Code, including, but not limited to, any future amendments to Code section 409A, and any other Internal Revenue Service or other governmental rulings or
interpretations (together, “Section 409A”) issued pursuant to Section 409A so as not to subject the Executive to payment of interest or any additional tax under Code section 409A. The Parties intend for any payments under this
Agreement to either satisfy the requirements of Section 409A or to be exempt from the application of Section 409A, and this Agreement shall be construed and interpreted accordingly. In furtherance thereof, if payment or provision of any
amount or benefit hereunder that is subject to Section 409A at the time specified herein would subject such amount or benefit to any additional tax under Section 409A, the payment or provision of such amount or benefit shall be postponed
to the earliest commencement date on which the payment or provision of such amount or benefit could be made without incurring such additional tax. In addition, to the extent that any Internal Revenue Service guidance issued under Section 409A
would result in the Executive being subject to the payment of interest or any additional tax under Section 409A, the Parties agree, to the extent reasonably possible, to amend this Agreement in order to avoid the imposition of any such interest
or additional tax under Section 409A, which amendment shall have the minimum economic effect necessary and be reasonably determined in good faith by the Company and the Executive. 

  
 14 

 k. Governing Law. This Agreement shall be governed by and construed under the laws of
the United States and the State of New Jersey, without effect to any conflicts of law. 
 l. Board Information. The
Executive shall at all times promptly give to the Board (in writing if so requested) all such information as it may reasonably request in connection with matters relating to the Executive’s employment or with the Company or the business of the
Company. 
 m. Effective Date. This Agreement shall be effective immediately on the date duly executed by both Parties.

 n. Full Agreement; Modification. This Agreement amends, restates and supersedes the Prior Agreement and all other
employment arrangements between the Executive and the Company, except that this Agreement shall not supersede any existing confidentiality, invention assignment, non-solicitation or non-competition agreements between the Executive and the Company,
including but not limited to those set forth in the Prior Agreement. This Agreement constitutes the entire agreement of the Parties concerning its subject matter and supersedes all other oral or written understandings, discussions, and agreements,
and may be modified only in a writing signed by both Parties. The Parties acknowledge that they have read and fully understand the contents of this Agreement and execute it after having an opportunity to consult with legal counsel. 

o. Counterparts; Delivery. This Agreement may be executed by the Parties in separate counterparts and may be delivered by either
or both Parties by facsimile or electronic transmission. 
 IN WITNESS WHEREOF, and intending to be legally bound hereby, the
Parties have executed this Agreement to be effective as of the date specified above. 
  

									
		 		 		 	CELATOR PHARMACEUTICALS, INC.
				
	 /s/ Scott T. Jackson
	 		 	By:	 	 /s/ Joseph A. Mollica

	Scott T. Jackson	 		 		 	 Joseph A. Mollica
 Chairman of
the Board

  
 15 

 SCHEDULE A 
 Permitted Activities 
  

									
	 Description of Activity
	  	 Nature of Work
	  	Hours Per
Month	  	Anticipated
Compensation	 
				
	 Board of Trustees
	  	 The Leukemia and Lymphoma Society - Eastern Pennsylvania Chapter
	  	Approx. 3	  	$	0.00

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