Document:

Exhibit
10.1

 

 

September
22, 2020

 

Dan
D’Agostino

[Address
Omitted]

 

Dear
Dan,

 

I
am very pleased to offer you the position of Chief Financial Officer at Nephros (the “Company”). As CFO, your primary
responsibilities will be to manage the financial, risk management, and administrative operations of the company, including accounting,
financial reporting, financial strategies, and control systems. You will also assist the CEO in representing the Company with
investors, bankers, and research analysts.

 

Your
initial annual compensation will be $200,000. This amount will be reviewed annually, beginning January 1, 2022. In addition, you
will be eligible to receive an annual bonus targeted at $50,000 (25% of your base salary), based on the Company’s achievements
of its goals. If the bonus is payable, it may be paid in cash, restricted stock, or a combination of the two, at the company’s
discretion and in accordance with similar payments to other senior executives.

 

Subject
to approval of Nephros’s board of directors, you will be granted an option to purchase 103,973 shares of the company’s
stock (1% of current fully diluted shares) pursuant to the Company’s 2015 Equity Incentive Plan (the “2015 Plan”).
Your right to exercise the stock options will vest over four years, in accordance with standard company practices. In the event
of a Change of Control (as such term is defined in the 2015 Plan), notwithstanding anything to the contrary contained herein,
all shares subject to the option that have not then vested shall vest and become exercisable immediately and, unless all such
options are cashed-out in the Change of Control transaction, shall remain exercisable for a period of not less than 360 days (or
the expiration of the Option term, if sooner), regardless of whether your employment is terminated in connection with such Change
of Control transaction. Notwithstanding the foregoing, unless otherwise determined by the board of directors, no change in ownership
of the Company’s outstanding securities shall be deemed a Change of Control if such change in ownership is caused by or
relates solely to any disposition or acquisition of any Company securities by Wexford Capital, LP (and/or its affiliates). The
stock option will be subject to the terms and conditions of the 2015 Plan and a separate stock option agreement in the standard
form approved for use under the 2015 Plan by the board of directors.

 

The
Company currently provides its employees with a benefits package, including:

 

	 	●	Health
    plan – Approximately 90% company paid
	 	●	Health
    Reimbursement Plan – 100% company paid
	 	●	Dental
    and Vision Plan – 100% company paid

 

 

    	 

     

    

 

 

	 	●	Life
    Insurance – 100% company paid
	 	●	Flexible
    Spending Account – Employee-paid
	 	●	Long-
    and Short-Term Disability Plan – Employee-paid
	 	●	SIMPLE
    IRA Savings Plan – Employee-paid with up to 3% company match
	 	●	15
    PTO days annually. “Use it or lose it” policy, where lawful

 

Termination
Benefit: Following one year of employment, you will be entitled to three months of base salary and continued health benefits in
the event your employment is terminated by the Company without cause. Following two years of employment, you will be entitled
to six months base salary and health benefits in the event you are terminated without cause. Any such health insurance benefits
provided to you post termination will be on the terms and conditions then in effect for the Company’s employees.

 

Please
note, that as set forth in the Company’s Personnel Policies and Procedures, the employee benefits provided to you by the
Company are subject to change by the Company, in its sole discretion, at any time and from time to time.

 

Your
employment is expected to begin on October 19, 2020.

 

Even
though some provisions of this letter refer to future dates, they are merely reference points for certain events that are scheduled
for as long as you are employed by the Company. Your employment with the Company is for an indefinite term and nothing in this
letter modifies your at-will employment relationship with the Company. Further, your employment will also be subject to the Company’s
Personnel Policies and Procedures, your entry into a Confidentiality, Invention Assignment and Non-Competition Agreement in the
form separately provided to you, and Nephros’ general satisfaction with your work performance. Either you or Nephros may
terminate your employment with the company for any reason with written notice.

 

If
you have any questions regarding the details of this offer, please feel free to contact me. We are very excited about having you
on our team. If you agree to the conditions that have been outlined, please sign, date, scan and return by e-mail at your earliest
convenience.

 

Respectfully,

 

	/s/
    Andy Astor	 	 
	Andy
    Astor, Chief Executive Officer	 	 

 

Accepted:

 

	/s/
    Dan D’Agostino	 	 
	Dan
    D’Agostinoex_207022.htm

	 	 	 	Exhibit 10.1
	 	 	 	 
	
			AMENDMENT OF SOLICITATION/MODIFICATION OF CONTRACT

				
			1. CONTRACT ID CODE

				
			PAGE OF

			1

				
			PAGES

			4

			
	
			2. AMENDMENT/MODIFICATION NO.

			P00021

				
			3. EFFECTIVE DATE

			See Block 16C

				
			4. REQUISITION/PURCHASE REQ. NO.

			OS260888

				
			5. PROJECT NO. (if applicable)

			ASPR-20-02608

			
	
			6. ISSUED BYCODE

				
			HHS/OS/ASPR/BARDA

				
			7. ADMINISTERED BY (if other than item 6) 

				CODE 	
			ASPR-BARDA02

			
	
			HHS/OS/ASPR/BARDA

			330 Independence Ave., S.W.

			Room 640-G

			Washington DC 20201

			 

				
			ASPR-BARDA

			330 Independence Ave, SW, Rm G640

			Washington DC 20201

			
	
			8. NAME AND ADDRESS OF CONTRACTOR (No., street, county, State and ZIP Code)

			 

			SIGA TECHNOLOGIES, INC. 1385150

			SIGA TECHNOLOGIES, INC. 35 E 6

			35 E 62ND ST

			NEW YORK NY 100658014

			 

			 

			 

				
			(x)

				
			9A. AMENDMENT OF SOLICITATION NO.

			 

			
	 	 	 
	 	 	
			9B. DATED (SEE ITEM 11)

			 

			
	 	
			x

				
			10A. MODIFICATION OF CONTRACT/ORDER NO.

			HHSO100201100023C

			
	 	 	
			10B. DATED (SEE ITEM 13)

			06/01/2011

			
	
			CODE1385150

				
			FACILITY CODE

				 	 
	
			11. THIS ITEM ONLY APPLIES TO AMENDMENTS OF SOLICITATIONS

			
	
			☐The above numbered solicitation is amended as set forth in Item 14.  The hour and date specified for receipt of Offers☐ is extended. ☐ is not extended.

			Offers must acknowledge receipt of this amendment prior to the hour and date specified in the solicitation or as amended , by one of the following methods: (a) By completing Items 8 and 15, and returning __________ copies of the amendment; (b) By acknowledging receipt of this amendment on each copy of the offer submitted ; or (c) By separate letter or electronic communication which includes a reference to the solicitation and amendment numbers. FAILURE OF YOUR ACKNOWLEDGEMENT TO BE RECEIVED AT THE PLACE DESIGNATED FOR THE RECEIPT OF OFFERS PRIOR TO THE HOUR AND DATE SPECIFIED MAY RESULT IN REJECTION OF YOUR OFFER. If by virtue of this amendment you desire to change an offer already submitted , such change may be made by letter or electronic communication, provided each letter or electronic communication makes reference to the solicitation and this amendment, and is received prior to the opening hour and date specified.

			
	
			12. ACCOUNTING AND APPROPRIATION DATA (if required)

			See Schedule

				
			Net Increase:

				
			$1,783.62

			
	
			13. THIS ITEM ONLY APPLIES TO MODIFICATION OF CONTRACTS/ORDERS. IT MODIFIES THE CONTRACT/ORDER NO. AS DESCRIBED IN ITEM 14.

			
	
			CHECK ONE

				
			A.THIS CHANGE ORDER IS ISSUED PURSUANT TO: (Specify authority) THE CHANGES SET FORTH IN ITEM 14 ARE MADE IN THE CONTRACT ORDER NO. IN ITEM 10A.

			
	 	 
	 	
			B.THE ABOVE NUMBERED CONTRACT/ORDER IS MODIFIED TO REFLECT THE ADMINISTRATIVE CHANGES (such as changes in paying office, appropriation data, etc.) SET FORTH IN ITEM 14, PURSUANT TO THE AUTHORITY OF FAR 43.103(b).

			
	
			X

				
			C.THIS SUPPLEMENTAL AGREEMENT IS ENTERED INTO PURSUANT TO AUTHORITY OF:

			52.243-2 Changes — Cost Reimbursement, Alternate V

			
	 	
			D. OTHER (Specify type of modification and authority)

			
	
			E. IMPORTANT: Contractor☐ is not☒ is required to sign this document and return __________1____ copies to the issuing office.

			
	
			14. DESCRIPTION OF AMENDMENT/MODIFICATION (Organized by UCF section headings, including solicitation/contract subject matter where feasible.)

			Tax ID Number: 13-3864870

			DUNS Number: 932651516

			Modification 21 accomplishes the following:

			 

			1) No-cost time extension of the following CLINS required for on-going activities include product stability, manufacturing and process development, clinical and regulatory studies:

			 

			CLIN 0003 = PH IV Opt 2 02/08/2017 to 12/30/2020 extended to 2/8/2024

			CLIN 0004 = PH IV Opt 3 02/08/2017 to 12/30/2020 extended to 2/8/2024

			CLIN 0005 = PH IV Opt 4 02/08/2017 to 12/30/2020 extended to 2/8/2024

			CLIN 0007 = PH IV Opt 6 02/08/2017 to 12/30/2020 extended to 2/8/2024

			Continued ...

			Except as provided herein, all terms and conditions of the document referenced in Item 9A or 10A, as heretofore changed, remains unchanged and in full force and effect.

			
	
			15A. NAME AND TITLE OF SIGNER (Type or print)

			 

			Dennis E. Hruby, CSO

				
			16A. NAME AND TITLE OF CONTRACTING OFFICER (Type or print)

			 

			JOHN K. WARNER

			
	
			15B. CONTRACTOR/OFFEROR

			 

			/s/ Dennis E. Hruby

			(Signature of person authorized to sign)

				
			15C. DATE SIGNED

			 

			02 Jul 2020

				
			16B. UNITED STATES OF AMERICA

			 

			/s/ John K. Warner -S

			(Signature of Contracting Officer)

				
			16C. DATE SIGNED

			 

			07/02/2020

			 

			
	
			Previous edition unusable

				 	 	STANDARD FORM 30 (REV. 11/2016)
	 	 	 	Prescribed by GSA FAR (48 CFR) 53.243
	 	 	 	 

 

 

	
			CONTINUATION SHEET

				
			REFERENCE NO. OF DOCUMENT BEING CONTINUED

			HHSO100201100023C/P00021

				
			PAGE

			2

				
			OF

			4

			
	
			NAME OF OFFEROR OR CONTRACTOR

			SIGA TECHNOLOGIES, INC. 1385150

			
	
			ITEM NO.

			(A)

				
			SUPPLIES/SERVICES

			(B)

				
			QUANTITY

			(C)

				
			UNIT

			(D)

				
			UNIT PRICE

			(E)

				
			AMOUNT

			(F)

			
	 	
			2) Provides $1,783.62 in supplemental funding for balance of funds needed for conclusion of product manufacturing process method development under CLIN 0006. Permits remittance of invoice 111-23C.

				 	 	 	 
	 	 	 	 	 	 
	 	
			3) Revises Article G.1-A changing the Contracting Officer from George J. Keane, Jr. to John K. Warner

				 	 	 	 
	 	 	 	 	 	 
	 	
			4) Revises Subsection G.1 changing the Project Officer / Contracting Officer’s Representative from David Simon, Ph.D. to Annie Xi Lu, Ph.D.

				 	 	 	 
	 	 	 	 	 	 
	 	
			See supplemental pages for additional information. All other terms and conditions of contract HHSO100201100023C remain unchanged.

				 	 	 	 
	 	 	 	 	 	 
	 	
			Discount Terms: PSC NET 30P

			Period of Performance: 05/15/2011 to 02/08/2024

				 	 	 	 
	 	 	 	 	 	 
	 	
			Change Item 7 to read as follows (amount shown is the obligated amount):

				 	 	 	 
	 	 	 	 	 	 
	
			7

				
			ASPR-17-00856 Exercise of CLINS 3 4 5 7 8

				 	 	 	
			0.00

			
	 	 	 	 	 	 
	 	
			Accounting Info:

			2017.1992017.25103 Appr. Yr.: 2017 CAN: 1992017 Object Class: 25103

			Funded: $0.00

				 	 	 	 
	 	 	 	 	 	 
	 	
			Accounting Info:

			2019.1992019.25106 Appr. Yr.: 2019 CAN: 1992019 Object Class: 25106

			Funded: $0.00

				 	 	 	 
	 	 	 	 	 	 
	 	
			Accounting Info:

			2019.1992018.25106 Appr. Yr.: 2019 CAN: 1992018 Object Class: 25106

			Funded: $0.00

				 	 	 	 
	 	 	 	 	 	 
	 	
			No-Cost Time Extensions of PoPs for CLIN 3, 4, 5, and 7 required for on-going activities include product stability, manufacturing and process development, clinical and regulatory studies.

				 	 	 	 
	 	 	 	 	 	 
	 	
			CLIN 0003 = PH IV Opt 2 02/08/2017 thru 12/30/2020 extended to 2/8/2024

			CLIN 0004 = PH IV Opt 3 02/08/2017 thru 12/30/2020 extended to 2/8/2024

			CLIN 0005 = PH IV Opt 4 02/08/2017 thru 12/30/2020 extended to 2/8/2024

			CLIN 0007 = PH IV Opt 6 02/08/2017 thru 12/30/2020 extended to 2/8/2024

				 	 	 	 
	 	 	 	 	 	 
	 	
			Add Item 8 as follows:

				 	 	 	 
	 	 	 	 	 	 
	
			8

				
			ASPR-20-02608 -- add funds to CLIN 0006 for final costs related to product manufacturing process method development under contract HHSO100201100023C

			Continued ...

			 

			 

			 

			 

			 

			 

			 

				 	 	 	
			1,783.62

			
	NSN 7540-01-152-8067	 	 	OPTIONAL FORM 336 (4-86)
	 	 	 	Sponsored by GSA
	 	 	 	 FAR (48 CFR) 53.110

 

 

 

 

	
			CONTINUATION SHEET

				
			REFERENCE NO. OF DOCUMENT BEING CONTINUED

			HHSO100201100023C/P00021

				
			PAGE

			3

				
			OF

			4

			
	
			NAME OF OFFEROR OR CONTRACTOR

			SIGA TECHNOLOGIES, INC. 1385150

			
	
			ITEM NO.

			(A)

				
			SUPPLIES/SERVICES

			(B)

				
			QUANTITY

			(C)

				
			UNIT

			(D)

				
			UNIT PRICE

			(E)

				
			AMOUNT

			(F)

			
	 	
			Obligated Amount: $1,783.62

				 	 	 	 
	 	 	 	 	 	 
	 	
			Accounting Info:

			2020.1992020.25106 Appr. Yr.: 2020 CAN: 1992020 Object Class: 25106

			Funded: $1,783.62

				 	 	 	 
	 	 	 	 	 	 
	 	
			balance of funds needed to conclude Scale-up, Process Validation and DP Stability performed under CLIN 0006 and to remit associated G&A / fee applicable to final billing for CLIN 0006 work per invoice No.111-2

			-

			PSC: AN13 NAICS: 541711 COR is Annie Lu, Ph.D. (202) 604-5814, Xi.Lu@hhs.gov

			 

			 

			 

			 

			 

			 

			 

			 

			 

			 

			 

			 

			 

			 

			 

			 

			 

			 

			 

			 

			 

			 

			 

			 

			 

			 

			 

			 

				 	 	 	 
	NSN 7540-01-152-8067	 	 	OPTIONAL FORM 336 (4-86)
	 	 	 	 	Sponsored by GSA
	 	 	 	 	FAR (48 CFR) 53.110

 

 

 

	
			Contract No. HHSO100201100023C

			SIGA Technologies, Inc.

			Modification No21: P00021

				
			SPECIAL PROVISIONS

				
			Page 4 of 4

			

 

Beginning with the effective date of this modification, the Government and the Contractor mutually agree as follows:

 

ARTICLE G.1PROJECT OFFICER — is revised as follows:

 

The following Contracting Officer Representative (COR) will represent the USG for the purpose of this contract:

 

Annie Xi Lu

Project Officer, Antivirals & Antitoxins

DHHS/OS/ASPR/BARDA

200 C Street, SW

Washington, DC 20515

C: (202) 604-5814

xi.lu@hhs.gov

 

ARTICLE G.1-A CONTRACTING OFFICER — is revised as follows:

 

The following Contracting Officer (CO) will represent the USG for the purpose of this contract:

 

John K. Warner

Contracting Officer

DHHS/OS/ASPR/BARDA

200 C Street, SW

Washington, DC 20515

(202) 805-4185

john.warner@hhs.gov

 

(End of Section)

 

 

 

End of Modification P00021

 

All other terms and conditions of the contract remain in full force and effect.

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