Document:

EX-10.1

	 	 	 	 	 

EXHIBIT 10.1

November 10, 2008

Advanced Viral Research Corp.

6 Executive Plaza, Suite 283

Yonkers, New York 10701

     Re: Employment Agreement

To Whom It May Concern:

This is to set forth our agreement regarding the payment of my salary. Reference is made to my
Employment Agreement dated as of May 15, 2007 (the “Agreement”). By executing this letter
agreement, we agree that the following terms and conditions shall be incorporated into the
Agreement effective as of August 8, 2008 notwithstanding any other provisions in the Agreement to
the contrary.

From the two week pay period ending August 8, 2008 through the two week pay period ending
October 3, 2008, the obligation of the Company to pay my base salary as well as any other cash
amounts shall be deferred until the Company acquires sufficient cash resources to pay such
deferred amounts (the “Triggering Event”). We agree that the determination as to the
appropriate time to pay the deferred amounts shall be within the sole discretion of the Board of
Directors. For purposes of clarification, amounts that are referred to as deferred amounts
herein shall be amounts that are accrued as obligations of the Company but which shall not be
paid until and unless there is a Triggering Event.

From the two week pay period ending October 17, 2008 until the Triggering Event, the Company
shall pay 40% of my base salary and all other cash amounts obligated to be paid by the Company
to me under the Agreement (e.g. $350,000 per annum) shall be deferred. For purposes of
clarification, amounts that are referred to as deferred amounts herein shall be amounts that are
accrued as obligations of the Company but which shall not be paid until and unless there is a
Triggering Event.

Except as otherwise specifically provided in this letter agreement, the terms of the Agreement
shall remain in full force and effect.

This letter agreement may be executed in any number of counterparts, all of which taken together
shall constitute one letter agreement.

	 	 	 	 	 
	 	Sincerely,

 	 
	 	/s/ Stephen Elliston
 	 
	 	Stephen Elliston 	 
	 	 	 
	 

Agreed and Acknowledged as of August 8, 2008

ADVANCED VIRAL RESEARCH CORP.

By: /s/ Martin Bookman, Acting Chief Financial OfficerEX-10.2

EXHIBIT 10.2

November 10, 2008

Advanced Viral Research Corp.

6 Executive Plaza, Suite 283

Yonkers, New York 10701

     Re: Employment Agreement

To Whom It May Concern:

This is to set forth our agreement regarding the payment of my salary. Reference is made to my
Employment Agreement dated as of December 3, 2007 (the “Agreement”). By executing this letter
agreement, we agree that the following terms and conditions shall be incorporated into the
Agreement effective as of August 8, 2008 notwithstanding any other provisions in the Agreement to
the contrary.

From the two week pay period ending August 8, 2008 through the two week pay period ending
October 3, 2008, the obligation of the Company to pay my base salary as well as any other cash
amounts shall be deferred until the Company (i) acquires net proceeds of at least $3.0 million
from the sale of the Company’s assets or securities; or (ii) consummates a merger transaction
with the surviving entity having at least $3.0 million in cash availability (the “Triggering
Event”).

From the two week pay period ending October 17, 2008 until the Triggering Event, the Company
shall pay 40% of my base salary and all other cash amounts obligated to be paid by the Company
to me under the Agreement (e.g. $220,000 per annum) shall be deferred.

Upon the occurrence of the Triggering Event, all amounts deferred hereunder shall be paid to me
in one lump sum.

Except as otherwise specifically provided in this letter agreement, the terms of the Agreement
shall remain in full force and effect.

This letter agreement may be executed in any number of counterparts, all of which taken together
shall constitute one letter agreement.

	 	 	 	 	 
	 	Sincerely,

 	 
	 	/s/ Vincent Gullo
 	 
	 	Vincent Gullo 	 
	 	 	 
	 

Agreed and Acknowledged as of August 8, 2008

ADVANCED VIRAL RESEARCH CORP.

By: /s/ Stephen Elliston, Chief Executive Officer and PresidentEX-10.3

EXHIBIT 10.3

November 10, 2008

Advanced Viral Research Corp.

6 Executive Plaza, Suite 283

Yonkers, New York 10701

     Re: Employment Agreement

To Whom It May Concern:

This is to set forth our agreement regarding the payment of my salary. Reference is made to my
Employment Agreement dated as of December 3, 2007 (the “Agreement”). By executing this letter
agreement, we agree that the following terms and conditions shall be incorporated into the
Agreement effective as of August 8, 2008 notwithstanding any other provisions in the Agreement to
the contrary.

From the two week pay period ending August 8, 2008 through the two week pay period ending
October 3, 2008, the obligation of the Company to pay my base salary as well as any other cash
amounts shall be deferred until the Company (i) acquires net proceeds of at least $3.0 million
from the sale of the Company’s assets or securities; or (ii) consummates a merger transaction
with the surviving entity having at least $3.0 million in cash availability (the “Triggering
Event”).

From the two week pay period ending October 17, 2008 until the Triggering Event, the Company
shall pay 40% of my base salary and all other cash amounts obligated to be paid by the Company
to me under the Agreement (e.g. $200,000 per annum) shall be deferred.

Upon the occurrence of the Triggering Event, all amounts deferred hereunder shall be paid to me
in one lump sum.

Except as otherwise specifically provided in this letter agreement, the terms of the Agreement
shall remain in full force and effect.

This letter agreement may be executed in any number of counterparts, all of which taken together
shall constitute one letter agreement.

	 	 	 	 	 
	 	Sincerely,

 	 
	 	/s/ Dallas Hughes
 	 
	 	Dallas Hughes 	 
	 	 	 
	 

Agreed and Acknowledged as of August 8, 2008

ADVANCED VIRAL RESEARCH CORP.

By: /s/ Stephen Elliston, Chief Executive Officer and PresidentEX-10.4

EXHIBIT 10.4

November 10, 2008

Advanced Viral Research Corp.

6 Executive Plaza, Suite 283

Yonkers, New York 10701

     Re: Employment Agreement

To Whom It May Concern:

This is to set forth our agreement regarding the payment of my salary. Reference is made to my
Employment Agreement dated as of December 3, 2007 (the “Agreement”). By executing this letter
agreement, we agree that the following terms and conditions shall be incorporated into the
Agreement effective as of August 8, 2008 notwithstanding any other provisions in the Agreement to
the contrary.

From the two week pay period ending August 8, 2008 through the two week pay period ending
October 3, 2008, the obligation of the Company to pay my base salary as well as any other cash
amounts shall be deferred until the Company (i) acquires net proceeds of at least $3.0 million
from the sale of the Company’s assets or securities; or (ii) consummates a merger transaction
with the surviving entity having at least $3.0 million in cash availability (the “Triggering
Event”).

From the two week pay period ending October 17, 2008 until the Triggering Event, the Company
shall pay 40% of my base salary and all other cash amounts obligated to be paid by the Company
to me under the Agreement (e.g. $175,000 per annum) shall be deferred.

Upon the occurrence of the Triggering Event, all amounts deferred hereunder shall be paid to me
in one lump sum.

Except as otherwise specifically provided in this letter agreement, the terms of the Agreement
shall remain in full force and effect.

This letter agreement may be executed in any number of counterparts, all of which taken together
shall constitute one letter agreement.

	 	 	 	 	 
	 	Sincerely,

 	 
	 	/s/ Yuri Dunayevskiy
 	 
	 	Yuri Dunayevskiy 	 
	 	 	 
	 

Agreed and Acknowledged as of August 8, 2008

ADVANCED VIRAL RESEARCH CORP.

By: /s/ Stephen Elliston, Chief Executive Officer and PresidentEX-10.5

EXHIBIT 10.5

November 10, 2008

Advanced Viral Research Corp.

6 Executive Plaza, Suite 283

Yonkers, New York 10701

     Re: Employment

To Whom It May Concern:

This is to set forth our agreement regarding the payment of my salary.

From the two week pay period ending October 17, 2008 until the Triggering Event (as defined
below), the Company shall pay 40% of my base salary and all other cash amounts obligated to be
paid by the Company to me under our employment arrangement (e.g. $101,800 per annum) shall be
deferred until the Company (i) acquires net proceeds of at least $3.0 million from the sale of
the Company’s assets or securities; or (ii) consummates a merger transaction with the surviving
entity having at least $3.0 million in cash availability (the “Triggering Event”).

Upon the occurrence of the Triggering Event, all amounts deferred hereunder shall be paid to me
in one lump sum.

Except as otherwise specifically provided in this letter agreement, the terms of our arrangement
shall remain in full force and effect

This letter agreement may be executed in any number of counterparts, all of which taken together
shall constitute one letter agreement.

	 	 	 	 	 
	 	Sincerely,

 	 
	 	/s/ Martin Bookman
 	 
	 	Martin Bookman 	 
	 	 	 
	 

Agreed and Acknowledged as of October 17, 2008

ADVANCED VIRAL RESEARCH CORP.

By: /s/ Stephen Elliston, Chief Executive Officer and PresidentEX-10.6

EXHIBIT 10.6

November 10, 2008

Advanced Viral Research Corp.

6 Executive Plaza, Suite 283

Yonkers, New York 10701

     Re: Employment

To Whom It May Concern:

This is to set forth our agreement regarding the payment of my salary.

For the two week pay period ending October 3, 2008, the obligation of the Company to pay my base
salary as well as any other cash amounts shall be deferred until the Company acquires sufficient
cash resources to pay such deferred amounts (the “Triggering Event”). We agree that the
determination as to the appropriate time to pay the deferred amounts shall be within the sole
discretion of the Board of Directors. For purposes of clarification, amounts that are referred to
as deferred amounts herein shall be amounts that are accrued as obligations of the Company but
which shall not be paid until and unless there is a Triggering Event.

From the two week pay period ending October 17, 2008 until the Triggering Event, the Company shall
pay to me 40% of my base salary (the “40% Amount”). The difference between the salary amounts I had
been receiving prior to the pay period ending October 17, 2008 (e.g. $90 ,000 per annum) and the
40% Amount shall be deferred. For purposes of clarification, amounts that are referred to as
deferred amounts herein shall be amounts that are accrued as obligations of the Company but which
shall not be paid until and unless there is a Triggering Event.

This letter agreement may be executed in any number of counterparts, all of which taken together
shall constitute one letter agreement.

	 	 	 	 	 
	 	Sincerely,

 	 
	 	/s/ Maribel deDiego
 	 
	 	Maribel deDiego 	 
	 	 	 
	 

Agreed and Acknowledged as of October 17, 2008

ADVANCED VIRAL RESEARCH CORP.

By: /s/ Stephen Elliston, Chief Executive Officer and President

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