Document:

EX-10.6(a)

 Exhibit 10.6(a) 

TherapeuticsMDTM 
 December 28, 2015 

Via Overnight Courier and Email 
 Sancilio & Company, Inc.

 Attn: Dr. Fred Sancilio 
 3874 Fiscal Court, Suite 200

 Riviera Beach, FL 33404 
  

	Re:	 	Amendment# 1 to Master Services Agreement – Extension of Term 

 Dear Fred: 

This letter confirms the mutual agreement of TherapeuticsMD, Inc. (“TXMD”) and Sancilio & Company, Inc. (“SCI”)
(sometimes referred to as the “Parties” and each a “Party”), to extend the Term of the Master Services Agreement between the Parties entered into as of as of January 30, 2015 (the “MSA”) for six (6) months.

 NOW, THEREFORE, in consideration of the mutual promises set. forth herein and for other good and valuable consideration, the
receipt and sufficiency of which the Parties hereby acknowledge, intending to be legally bound, the Parties hereby agree as follows: 
  

	1.	 	Section 8.1. The MSA shall be amended, effective immediately to provide for the following change: 

The first sentence of Section 8.1 is deleted and replaced with the following language: 

“Unless sooner terminated in a manner herein provided, this Agreement shall continue until June 30, 2016 (hereinafter the
“Term”) 
  

	2.	 	Except as specifically referenced herein, the Agreement shall remain unchanged and shall continue in full force and effect. 

Please confirm your agreement to the Term extension by countersigning on the signature lines below. 

Regards, 
 /s/ Dan Cartwright 

Dan Cartwright 

Chief Financial Officer 

 AGREED TO AND ACCEPTED: 

Sancilio & Company, Inc. 
  

			
	By:	 	 /s/ Frederick D. Sancilio

		
	 Name:
	 	Frederick D. Sancilio
	Title:	 	CEO & President
	Date:	 	December 29, 2015EX-10.10

 Exhibit 10.10 
  

					
	  
 

	 		  	 CONFIDENTIAL

Sancilio and Company, Inc.

3874 Fiscal Ct., Ste. 200

Riviera Beach, FL 33404

Phone: 561.847.2302
 Fax:
561.847.2312
 www.sancilio.com

 December 23, 2015 

Mr. Marc Wolff 
 143 Van Zandt Road 

Skillman, NJ 08558 
 Dear Mr. Marc Wolff, 

On behalf of Sancilio & Company, Inc. (the “Company”) I am pleased to offer you the position of Executive Vice President,
Chief Financial Officer “EVP, CFO”. In this role, you will report directly to the Company’s Chief Executive Officer (CEO). In your capacity as “EVP, CFO”, you will be responsible for the Finance, HR, IT and Legal departments
and devote your full working time and best efforts to the business and affairs of the Company and be responsible for performing the duties that may from time to time be reasonably assigned to you by the Company’s CEO. The terms of your
employment shall be as set forth in this letter agreement (“Agreement”), which Agreement shall supersede any prior understandings or agreements, whether oral or written, between you and the Company, including, without limitation, that
certain letter agreement, dated January 16, 2015, by and between you and the Company (the “Prior Agreement”). Notwithstanding the foregoing and for the avoidance of doubt, the Confidentiality,
Non-Competition and Work Product Agreement, dated January 16, 2015, by and between you and the Company (which agreement is attached as Appendix B to the Prior Agreement), remains in full force and effect.

 1. Effective Date; Compensation. 

(a) Base Salary. Your first day of employment was on January 20, 2015 (your “Start Date”). You will initially be paid an
annual base salary (the “Base Salary”) of Four Hundred Thousand Dollars ($400,000.00), which will be paid bi-weekly in accordance with the Company’s normal payroll practices, subject to applicable withholding and other taxes. Your
annual Base Salary will be reviewed for potential increase (but not decrease) on an annual basis by the Company’s Compensation Committee (the “Compensation Committee”). 

(b) Equity. As of your Start Date, you were granted an option to purchase 246,295 shares of the Company’s common stock (the
“Stock Options”), representing one (1) percent of the Company’s common stock on a fully diluted basis as of the date hereof. The Stock Options, when issued, will have a per share exercise price not greater than three dollars and
sixty nine cents ($3.69) per share, which is the fair market value of the Company’s common stock, as determined by the Company’s Board of Directors (the “Board”), as of the grant date. The Stock Options are subject to the terms
and conditions of the Company’s 2012 Employee, Director and Consultant Equity Incentive Plan and related Stock Option Agreement, or such other equity incentive plan that is in place at the time of the grant, and will vest over a three
(3) year period from your Start Date according to the following schedule: 33.33% of the Stock Option will vest on each of the first three anniversaries of your Start Date, such that the Stock Options shall be fully vested on the third
anniversary of your Start Date. Upon the occurrence of a Change of Control (as defined below) vesting shall accelerate and all of the Stock Options shall be deemed to be 

  

 
vested and exercisable immediately prior to such Change of Control. In addition, upon the effectiveness of an initial public offering of the Company’s stock (“IPO”), you shall be
granted additional Stock Options (the “Additional Stock Options”) representing .5 (one-half) percent of the Company’s common stock on a fully diluted basis as of the date of the IPO. The
Additional Stock Options, when issued, will have a per share exercise price equal to the price of the Company’s common stock in the IPO. The Additional Stock Options will be subject to the terms and conditions of the Company’s 2012
Employee, Director and Consultant Equity Incentive Plan and related Stock Option Agreement, or such other equity incentive plan that is in place at the time of the grant, and will vest over a three (3) year period from your Start Date according
to the following schedule: 33.33% of the Stock Option will vest on each of the first three anniversaries of your Start Date, such that the Additional Stock Options shall be fully vested on the third anniversary of your Start Date. Upon the
occurrence of a Change of Control (as defined below) vesting shall accelerate and all of the Additional Stock Options shall be deemed to be vested and exercisable immediately prior to such Change of Control. Except as set forth above, your
eligibility for and the terms of all future equity grants, if any, will be determined solely at the discretion of the Compensation Committee. 

For purposes of this Agreement, the term “Change of Control” shall mean: (i) the merger or consolidation of the Company (or its
parent) with another entity in which all or substantially all of the owners of the stock of the Company (or its parent) prior thereto do not own over fifty (50%) of the voting interests in the surviving entity; (ii) the sale, transfer,
exchange or license of all or substantially all of the Company’s (or its parent’s) assets or business (other than in a transaction where all or substantially all of the owners of the stock of the Company (or its parent) prior thereto that
own more than fifty percent (50%) of the then voting interests in the Company (or its parent) beneficially own, directly or indirectly, more than fifty percent (50%) of the then voting interests of the entity acquiring or purchasing such
assets); (iii) the acquisition by any person or entity of beneficial ownership of more than fifty percent (50%) of either (A) the value of the then outstanding shares of common stock of the Company (or its parent) (the
“Outstanding Company Common Stock”) or (B) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting
Securities”) (the foregoing beneficial ownership hereinafter being referred to as a “Controlling Interest”); or (iv) during any period of two (2) consecutive years (not including any period prior to your Start Date)
individuals who constitute the Board on your Start Date (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board (provided that any individual becoming a director subsequent to your Start Date
whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the
Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or
threatened solicitation of proxies or consents by or on behalf of any person other than the Board); provided, however, that for purposes of this definition, the following acquisitions shall not constitute or result in a Change of
Control: (w) any acquisition by the Company (or its parent); (x) any acquisition by any person that as of your Start Date owns beneficial ownership of a Controlling Interest; (y) any acquisition by any employee benefit plan (or
related trust) sponsored or maintained by the Company (or its parent) or any subsidiary of the Company; or (z) any acquisition by any corporation pursuant to a transaction where (A) all or substantially all of the persons who were the
beneficial owners, respectively, of the outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such transaction beneficially own, directly or indirectly, more than fifty percent (50%) of the then
outstanding shares of common stock and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such business combination
(including, without limitation, a corporation 

  
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which as a result of such transaction owns the Company (or its parent) or all or substantially all of the Company’s (or its parent’s) assets either directly or through one or more
subsidiaries) in substantially the same proportions as their ownership, immediately prior to such transaction of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be, and (B) at least a majority of
the members of the Board (or the parent’s board of directors) resulting from such transaction were members of the Board (or the parent’s board of directors) at the time of the execution of the initial agreement, or of the action of the
Board (or the parent’s board of directors), providing for such transaction. 
 (c) Annual Bonus. Beginning with the 2015 fiscal
year, you will be eligible to receive an annual performance bonus (the “Annual Bonus”), payable in cash. The target amount of the Annual Bonus shall be 40% of your Base Salary. It shall be earned after completion of certain objectives
specified in the Company’s Management Incentive Plan in effect from time to time (the “Bonus Plan”). The Compensation Committee, in its reasonable discretion, shall determine if each of the objectives have been met in accordance with
the Bonus Plan. The Compensation Committee shall update the Bonus Plan at the beginning of each fiscal year to provide for the bonus objectives for such fiscal year. For the 2015 fiscal year, you will be eligible for a full bonus even though your
employment under this Agreement will not (or under the Prior Agreement did not) commence until after the beginning of the fiscal year. Unless otherwise provided for in the Bonus Plan, the Annual Bonus shall be paid in the first quarter of the
calendar year following the annual performance period. Your base salary and bonuses, if any, will be subject to taxes and other withholdings as required by law. 

(d) Moving and Other Expenses. 
  

	 	(i)	The Company shall reimburse you for the reasonable costs of: (i) transporting your family and your household and personal belongings to South Florida (“Moving Expenses”); (ii) temporary housing
sufficient for you and your family during the Temporary Housing Period (as defined below); (iii) commuting expenses including round-trip airfare tickets for you during the Temporary Housing Period; (iv) round-trip airfare tickets for your
wife and children for two trips during the Temporary Housing Period; and (v) rental of a car for your use during the Temporary Housing Period. All reimbursement for moving expenses shall be subject to your submission of appropriate receipts and
documentation. For purposes of this Agreement, the term Temporary Housing Period means the period between the Start Date and the earlier to occur of (a) seven months after the Start Date or (b) your family’s move into a permanent
residence in the South Florida area. 

  

	 	(ii)	 If within twelve (12) months of your Start Date your employment with the Company is terminated by you without Good Reason (as defined below) or
terminated by the Company for Cause (as defined below), you will be responsible for reimbursing the Company for the full amount of the Moving Expenses. If your employment ends for any other reason, you shall not be responsible for reimbursing any
amount of the Moving Expenses. For purposes of this Agreement, the term “Good Reason” shall mean (A) a material breach by the Company of this Agreement or the Confidentiality, Non-Competition
and Work Product Agreement between you and the Company (the “Confidentiality Agreement”), of any other agreement between you and the Company, or of your rights under any employee benefit, retirement or equity plan; (B) a material
diminution in your title, authority, responsibilities, or lines of reporting; or (C) a relocation of your principal place of employment to a location that increases your daily commute by fifty (50) miles or more; provided, however, that
none of the preceding 

  
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grounds shall constitute Good Reason unless (x) your termination of employment for Good Reason occurs within 150 days following the initial existence of one of the conditions specified in
clauses (A) through (C) above, (y) you provide the Company with written notice of the existence of such condition within ninety (90) days after the initial existence of the condition, and (z) the Company fails to remedy the
condition within twenty (20) days after its receipt of such notice. For the purposes of this Agreement, the term “Cause” shall mean (A) your willful failure to perform your reasonable and lawful duties and responsibilities under
this Agreement and the Confidentiality Agreement; (B) your deliberate violation of a Company policy; (C) your commission of any act of fraud, embezzlement, dishonesty or any other willful misconduct that has caused or is reasonably
expected to result in material injury to the Company; (D) unauthorized use or disclosure by you of any proprietary information or trade secrets of your relationship with the Company; (E) your willful breach of any of your obligations under
any written agreement or covenant with the Company; or (F) your failure to relocate your permanent residence to South Florida prior to September 30, 2015; provided, however, if and to the extent any of the grounds for termination set forth
in clauses (A) - (E) above is capable of being cured, the ground for termination shall not constitute Cause unless the Company has provided you with written notice of such ground for termination and you have failed to cure it within twenty
(20) days after your receipt of such written notice. 

 (e) Fringe Benefits; Vacation. You will be eligible to
participate in the employee benefits and insurance programs generally made available to its full-time employees, including health insurance for you and your family, any retirement or pension plans (e.g., 401(k) plans) and any equity incentive plans,
when and if such plans are adopted. You will accrue twenty (20) days of paid vacation time annually. Up to five (5) days of accrued unused vacation days may be carried over from year to year. 

(f) Reimbursement of Business Expenses. 
  

	 	(i)	Upon presentation of documentation reasonably satisfactory to the Company, the Company will reimburse you for all ordinary and reasonable out-of-pocket business expenses that are reasonably incurred by you in
furtherance of the Company’s business in accordance with the Company’s policies with respect thereto as in effect from time to time. 

  

	 	(ii)	Any reimbursement made in one calendar year shall not affect the amount that may be reimbursed in any other calendar year and a reimbursement (or right thereto) may not be exchanged or liquidated for another benefit or
payment. Any expense reimbursements subject to Section 409A of the Internal Revenue Code and the rules and regulations thereunder (“Section 409A”) shall be made no later than the end of the calendar year following the calendar year in
which you incurred such expense. 

 (g) Severance and Other Payments. In the event your employment is terminated by the
Company for any reason other than Cause, or terminated by you for Good Reason, you will be eligible to receive Base Salary, benefits and unused vacation through the date of termination, together with the following: (i) severance payments equal
to twelve (12) months (the “Severance Period”) of your then-current Base Salary, which will be paid bi-weekly in accordance with the Company’s normal payroll practices; (ii) continuation of health insurance benefits for you
and your family for the Severance Period, with the Company continuing to pay the regular employer share of premiums (provided, however, that as a condition of continuation of such benefits, the Company may require you to elect to continue your

  
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health insurance pursuant to COBRA); (iii) any earned but unpaid Annual Bonus from any previously completed calendar year, payable as and when such Annual Bonus was due to be paid;
(iv) a prorated Annual Bonus for the year of termination at the same target level as the prior completed year and prorated to reflect the portion of the year during which you worked, payable within thirty (30) days after the termination.
In the event a termination of employment described in this Section 1(g) occurs within twelve (12) months following a Change of Control, you shall be entitled to the same payments and benefits set forth in the preceding sentence except that
the Severance Period shall be twenty-four (24) months. 
 (h) Signing Bonus. Within thirty (30) days after the Start Date,
you shall be paid a signing bonus (the “Signing Bonus”) equal to Fifty Thousand Dollars ($50,000). If within twelve (12) months of your Start Date your employment with the Company is terminated by you without Good Reason or terminated
by the Company for Cause, you will be responsible for reimbursing the Company for the full amount of the Signing Bonus. If your employment terminates for any other reason, you shall not be responsible for reimbursing any portion of the Signing
Bonus. 
 (i) Clawback of Certain Compensation. Notwithstanding any other provision in this Agreement to the contrary, you hereby
agree that any “incentive-based compensation” (within the meaning of Section 10D of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) granted to you by the Company, or any compensation payable or
paid to you by the Company, during the term of your employment will be subject to the provisions of any claw-back policy implemented by the Company, including, without limitation, any claw-back policy adopted to comply with the requirements of
applicable law or any applicable rules and regulations of the U.S. Securities and Exchange Commission or any stock exchange on which the common stock (or any other securities) of the Company is listed, as may be implemented by the Board or
Compensation Committee from time to time. 
 2. Term of Employment. The Company is excited about your joining and looks forward to a
beneficial and productive relationship. Nevertheless, you should be aware that your employment with the Company will be “at will,” meaning that either you or the Company will be entitled to terminate your employment at
any time and for any reason, with or without Cause or Good Reason (subject to the severance requirements set forth in Section 1(g)). This is the full and complete agreement between you and the Company on this term. Although, subject to the
requirements of this Agreement, your job duties, title, compensation and benefits, as well as the Company’s human resources policies and procedures, may change from time to time, the “at will” nature of your
employment may only be changed in an express written agreement signed by you and a duly authorized officer of the Company. 
 3. IRS Code
Sections 409A and 280G. 
 (a) If any of the benefits set forth in this Agreement are “deferred compensation” within the
meaning of Section 409A, any termination of employment triggering payment of such benefits must constitute a “separation from service” under Section 409A before a distribution of such benefits can commence. If any amount to be
paid to you pursuant to this Agreement as a result of your termination of employment is “deferred compensation” within the meaning of Section 409A, and if you are a “Specified Employee” (as defined under Section 409A)
as of the date of your termination of employment hereunder, then, to the extent necessary to avoid the imposition of accelerated or increased income taxes, excise taxes or other penalties under Section 409A, the payment of benefits, if any,
scheduled to be paid by the Company to you hereunder during the first six (6) month period following the date of a termination of employment hereunder shall not be paid until the date which is the first business day after six (6) months
have elapsed since the termination of your employment. Any deferred compensation payments delayed in accordance with the terms of this Section 3 shall be paid in a lump sum when paid and shall be adjusted for earnings in accordance with the
applicable short term rate under Section 1274(d) of the Internal Revenue Code (the “Code”). 

  
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 (b) Notwithstanding any other provision of this Agreement to the contrary, this Agreement shall
be interpreted and at all times administered in a manner that avoids the inclusion of compensation in income under Section 409A, or the payment of increased taxes, excise taxes or other penalties under Section 409A. For purposes of
clarification, this Section 3 shall not cause any forfeiture of benefits by you, but shall only act as a delay until such time as a “separation from service” under Section 409A occurs. 

(c) The parties intend this Agreement to be in compliance with Section 409A. You acknowledge and agree that Company does not guarantee
the tax treatment or tax consequences associated with any payment or benefit arising under this Agreement, including but not limited to consequences related to Section 409A. 

(d) If any payment or benefit you would receive under this Agreement, when combined with any other payment or benefit you receive pursuant to
a Change of Control (for purposes of this section, a “Payment”) would: (i) constitute a “parachute payment” within the meaning of Section 280G the Code; and (ii) but for this sentence, be subject to the excise tax
imposed by Section 4999 of the Code (the “Excise Tax”), then such Payment shall be either: (A) the full amount of such Payment; or (B) such lesser amount (with cash payments being reduced before stock option compensation) as
would result in no portion of the Payment being subject to the Excise Tax, whichever of the foregoing amounts, taking into account the applicable federal, state and local employments taxes, income taxes, and the Excise Tax, results in your receipt,
on an after-tax basis, of the greater amount of the Payment notwithstanding that all or some portion of the Payment may be subject to the Excise Tax. 

4. General. 
 (a) Your place of
work will be the Company’s main offices, currently located at 2129 N. Congress Avenue, Riviera Beach, FL 33404. 
 (b) You represent
that you are not bound by any employment contract, restrictive covenant or other restriction preventing you from entering into employment with or carrying out your responsibilities for the Company, or which is in any way inconsistent with the terms
of this offer letter. 
 (c) While you render services to the Company, you agree that you will not engage in any other employment,
consulting or other business activity without the written consent of the Company, except that you may engage in charitable, educational, religious and similar activities as long as such activities do not interfere or conflict with the performance of
your duties to the Company. 
 (d) If you accept our offer, you must provide proof of authorization to work in the United States within
three business days from your date of hire. Please bring these documents with you on your Start Date. This requirement is in accordance with the Immigration Reform and Control Act of 1986, and applies to U.S. citizens and non-U.S. citizens, alike.

 (e) The parties intend this Agreement to be in compliance with Code Section 409A. You acknowledge and agree that Company does not
guarantee the tax treatment or tax consequences associated with any payment or benefit arising under this Agreement, including but not limited to consequences related to Code Section 409A. You and the Company agree that you both will negotiate
in 

  
 6 

 
good faith and jointly execute an amendment to modify this Agreement to the extent necessary to comply with the requirements of Code Section 409A, or any successor statute, regulation and
guidance thereto; provided that no such amendment shall increase the total financial obligation of Company under this Agreement. 

(f) Your employment with the Company is conditioned upon your execution of the Company’s standard confidentiality, non-competition and
work product agreement on or before your Start Date, which agreement is attached as Appendix B to the Prior Agreement. For the avoidance of doubt, no provision set forth in Appendix B of the Prior Agreement shall be
construed to create an express or implied employment contract for any specific period of time, and the Company or you may terminate your employment at any time, with or without Cause or Good Reason. 

(g) Subject to limitations imposed by law, the Company shall indemnify and hold you harmless to the fullest extent permitted by law from and
against any and all claims, damages, expenses (including attorneys’ fees), judgments, penalties, fines, settlements, and all other liabilities incurred or paid by you in connection with the investigation, defense, prosecution, settlement or
appeal of any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative and to which you were or are a party or are threatened to be made a party by reason of the fact that you are or were
an officer, employee or agent of the Company, or by reason of anything done or not done by you in any such capacity or capacities, provided that you acted in good faith, in a manner that was not grossly negligent or constituted willful misconduct
and in a manner you reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to any criminal action or proceeding, had no reasonable cause to believe your conduct was unlawful. The rights under this
Section 4(g) are in addition to any rights of indemnity you may have under the Company’s by-laws or other organizational documents, under the Company’s liability insurance policies, or under applicable law. 

(h) This Agreement may be assigned by the Company to a successor by way of sale (assets or otherwise), merger or consolidation provided such
successor expressly assumes all obligations to you. Such an assignment will not operate as a release of the Company’s obligations to you unless you consent in writing at that time. You may not assign your obligations under this Agreement, but
your rights will inure to the benefit of your heirs, executors, administrators, successors and assigns. 
 (i) Notices. All notices,
requests, consents and other communications hereunder will be in writing, will be addressed to the receiving party’s address set forth above or to such other address as a party may designate by notice hereunder, and will be either
(i) delivered by hand, (ii) sent by overnight courier, or (iii) sent by registered mail, return receipt requested, postage prepaid. All notices, requests, consents and other communications hereunder will be deemed to have been given
either (i) if by hand, at the time of the delivery thereof to the receiving party at the address of such party set forth above, (ii) if sent by overnight courier, on the next business day following the day such notice is delivered to the
courier service, or (iii) if sent by registered mail, on the fifth business day following the day such mailing is made. 
 (j)
Waivers and Consents. The terms and provisions of this Agreement may be waived, or consent for the departure therefrom granted, only by written document executed by the party entitled to the benefits of such terms or provisions. No such
waiver or consent will be deemed to be or will constitute a waiver or consent with respect to any other terms or provisions of this Agreement, whether or not similar. Each such waiver or consent will be effective only in the specific instance and
for the purpose for which it was given, and will not constitute a continuing waiver or consent. 

  
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 (k) Governing Law. This Agreement and the rights and obligations of the parties hereunder
will be construed in accordance with and governed by the law of the State of Florida, without giving effect to the conflict of law principles thereof. 

(l) Jurisdiction, Venue and Service of Process. Any legal action or proceeding with respect to this Agreement will be brought in the
courts of the State of Florida or of the United States of America for the Southern District of Florida. By execution and delivery of this Agreement, each of the parties hereto accepts for itself and in respect of its property, generally and
unconditionally, the exclusive personal jurisdiction of the federal and state courts in the Southern District of Florida. Notwithstanding the foregoing, venue for any action shall be governed by the applicable rules or provisions relating to venue.

 (m) Waiver of Jury Trial. ANY ACTION, DEMAND, CLAIM OR COUNTERCLAIM ARISING UNDER THIS AGREEMENT WILL BE RESOLVED BY A
JUDGE ALONE AND EACH OF THE COMPANY AND YOU WAIVE ANY RIGHT TO A JURY TRIAL THEREOF; PROVIDED, HOWEVER, THIS WAIVER SHALL NOT APPLY TO ANY OTHER ACTIONS, DEMANDS OR COUNTERCLAIMS BY THE PARTIES, INCLUDING ANY ACTIONS, DEMANDS OR COUNTERCLAIMS
ARISING UNDER OTHER AGREEMENTS BETWEEN THE PARTIES. 
 (n) Severability. The parties intend this Agreement to be enforced as
written. However, if any portion or provision of this Agreement is to any extent declared illegal or unenforceable by a duly authorized court having jurisdiction, then the remainder of this Agreement, or the application of such portion or provision
in circumstances other than those as to which it is so declared illegal or unenforceable, will not be affected thereby, and each portion and provision of this Agreement will be valid and enforceable to the fullest extent permitted by law. 

(o) Headings and Captions. The headings and captions of the various subdivisions of this Agreement are for convenience of reference
only and will in no way modify or affect the meaning or construction of any of the terms or provisions hereof. 
 (p) No Waiver of
Rights, Powers and Remedies. No failure or delay by a party hereto in exercising any right, power or remedy under this Agreement, and no course of dealing between the parties hereto, will operate as a waiver of any such right, power or remedy of
the party. No single or partial exercise of any right, power or remedy under this Agreement by a party hereto, nor any abandonment or discontinuance of steps to enforce any such right, power or remedy, will preclude such party from any other or
further exercise thereof or the exercise of any other right, power or remedy hereunder. The election of any remedy by a party hereto will not constitute a waiver of the right of such party to pursue other available remedies. No notice to or demand
on a party not expressly required under this Agreement will entitle the party receiving such notice or demand to any other or further notice or demand in similar or other circumstances or constitute a waiver of the rights of the party giving such
notice or demand to any other or further action in any circumstances without such notice or demand. 
 (q) Counterparts. This
Agreement may be executed in two or more counterparts, and by different parties hereto on separate counterparts, each of which will be deemed an original, but all of which together will constitute one and the same instrument. 

(r) Opportunity to Review. You hereby acknowledge that you have had adequate opportunity to review these terms and conditions and to
reflect upon and consider the terms and conditions of this 

  
 8 

 
Agreement, and that you have had the opportunity to consult with counsel of your own choosing regarding such terms. You further acknowledge that you fully understand the terms of this Agreement
and have voluntarily executed this Agreement. 
 We look forward to you joining our organization. In order to confirm your intention to
commence employment with Sancilio & Company, Inc. on the terms set forth in this letter, please countersign one copy of this letter and return it to me. If you have any questions, please do not hesitate to speak with me. 

[Remainder of Page Intentionally Left Blank] 

  
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 Except as otherwise specified herein, this Agreement and the agreements referred to in this
Agreement contain all of the terms of your employment with the Company and supersede any prior understandings or agreements, whether oral or written, between you and the Company, including, without limitation, the Prior Agreement. Any amendment of
this Agreement must be in writing and must be signed by both parties. The terms of this letter and the resolution of any disputes will be governed by the laws of the State of Florida. 

Sincerely, 
 Sancilio & Company, Inc. 

 

			
	By:	 	 /s/ Frederick D. Sancilio

	Name:	 	Frederick D. Sancilio, Ph.D.
	Title:	 	Chief Executive Officer

 I accept the foregoing offer of employment: 
  

							
	 /s/ Marc Wolff
	 		 	 December 23, 2015
	 	
	Marc Wolff	 		 	Date

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