Document:

Exhibit 10.2

                             PHASE III MEDICAL, INC.
                             330 South Service Road
                                    Suite 120
                            Melville, New York 11747
                                  631.574.4955
August 12, 2005

Mr. Marrk Weinreb
c/o Phase III Medical, Inc.
330 South Service Road
Suite 120
Melville, NY  11747

Dear Mr. Weinreb:

            This letter agreement shall serve as an amendment (the "Amendment")
to your employment agreement (the "Agreement") with Phase III Medical, Inc. (the
"Company") dated February 6, 2003 to serve as the Company's President and Chief
Executive Officer. The terms of this Amendment were unanimously approved by the
Board of Directors of the Company on May 4, 2005, subject to the approval of the
Company's shareholders, which was obtained on July 20, 2005.

            The Agreement is hereby amended as follows:

     1.   Section 1.1 of the Agreement is amended to provide that the
          termination of the Initial Term of the Agreement shall be December 31,
          2008.
     2.   Section 4.2 of the Agreement is amended to provide that commencing as
          of July 20, 2005, the Base Salary to which you are entitled under the
          Agreement shall be equal to the sum of $250,000 which shall remain in
          effect throughout the term of the Agreement without adjustment.
     3.   You are hereby granted as of July 20, 2005, under the Company's 2003
          Equity Participation Plan (the "2003 EPP"), 3,000,000 shares of Common
          Stock which shall vest as to 1,000,000 shares on each of July 20,
          2005, July 20, 2006 and July 20, 2007 and shall otherwise be subject
          to all the terms and conditions of the 2003 EPP.
     4.   The second sentence of paragraph 1.3 is hereby deleted and replaced in
          its entirety as follows: "In the event of termination without cause
          (other than pursuant to Paragraph 6.1 hereof), as liquidated damages
          and as the sole and exclusive remedy of the Employee, the Employee
          shall be entitled to (a) a lump sum payment equal to his then Base
          Salary and Automobile Allowance (each as hereinafter defined) for one
          year, and (b) be reimbursed for the remainder of the Term pursuant to
          Paragraphs 9.2 and 9.3 hereof".
     5.   Section 4.3 of the Agreement is amended to provide that commencing in
          August 2006, you shall be entitled to an annual minimum bonus amount
          of $25,000 (not $20,000).
     6.   A new Section 4.5 is hereby added providing that in August 2005 you
          shall be paid the sum of $15,000 to cover costs incurred by you on
          behalf of the Company.
     7.   A new Section 9.5 is hereby added providing that, commencing in 2006,
          the Company shall pay for the reimbursement of all premiums in an
          annual aggregate amount of up to $18,000 payable by you for life and
          long term care insurance covering each year during the Term of the
          Agreement.

            Except as provided herein, the Agreement shall remain unchanged. All
     terms not otherewise defined herein shall have the meaning set forth in the
     Agreement. For our records, I would appreciate your countersigning the
     attached copy of this Amendment and returning the same to me at your
     earliest convenience.
                              Sincerely,
                              /s/ Catherine M. Vaczy
                              Catherine M. Vaczy
                              Executive Vice President and General Counsel

<PAGE>

Accepted and agreed to:
/s/ Mark Weinreb
Mark WeinrebExhibit 10.3

                             PHASE III MEDICAL, INC.
                             330 South Service Road
                                    Suite 120
                            Melville, New York 11747
                                  631.574.4955

August 12, 2005

Wayne A. Marasco, M.D., Ph.D.
Department of Cancer Immunology & AIDS
Dana-Farber Cancer Institute - Harvard Medical School
44 Binney Street
Boston, MA 02115

Dear Dr. Marasco:

            This letter agreement shall serve as an amendment (the "Amendment")
to your letter agreement (the "Letter Agreement") with Phase III Medical, Inc.
(the "Company") dated August 12, 2004 to serve as the Company's Senior
Scientific Advisor. The terms of this Amendment were unanimously approved by the
Board of Directors of the Company on May 4, 2005, subject to the approval of the
Company's shareholders, which was obtained on July 20, 2005.

            The Letter Agreement is hereby amended as follows:

     1.   The Term is hereby extended from August 11, 2007 to August 11, 2008.
     2.   The annual salary to which you are entitled under the Letter Agreement
          during the Term shall be equal to $110,000, $125,000 and $150,000,
          respectively, for each of the years ended August 11, 2006, August 11,
          2007 and August 11, 2008.
     3.   Under the Letter Agreement, you shall be entitled to an annual minimum
          bonus of $12,000 during the Term, payable in January of each year
          during the Term, commencing in January 2006.
     4.   Eliminated in its entirety is your right to receive 5% of all
          collected revenues derived from the Company's royalty or other revenue
          sharing agreements (which right was subject to the limitation that the
          amount of such additional cash compensation and your annual salary do
          not exceed, in the aggregate, $200,000 per year).
     5.   Your right to begin receiving all accrued but unpaid cash compensation
          under the Letter Agreement shall commence upon the Company's
          consummation of any financing, whether equity or otherwise, pursuant
          to which the Company raises a minimum of $1,500,000 after the
          Commencement Date.

            Except as provided herein, the Letter Agreement shall remain
unchanged. Unless otherwise defined herein, initially capitalized terms used
herein shall have the meaning set forth in the Letter Agreement. For our
records, I would appreciate your countersigning the attached copy of this
Amendment and returning the same to me at your earliest convenience.

                                         Sincerely,
                                         /s/ Mark Weinreb
                                         Mark Weinreb, President & CEO

Accepted and agreed to:
/s/ Wayne A. Marasco
Wayne A. Marasco, M.D., Ph.D.Exhibit 10.4

                             PHASE III MEDICAL, INC.
                             330 South Service Road
                                    Suite 120
                            Melville, New York 11747
                                  631.574.4955

August 12, 2005

Mr. Robert Aholt, Jr.
20128 Cavern Court
Saugus, California 91390

Dear Mr. Aholt:

            This letter agreement shall serve as an amendment (the "Amendment")
to your letter agreement (the "Letter Agreement") with Phase III Medical, Inc.
(the "Company") dated September 13, 2004 to serve as the Company's Chief
Operating Officer. The terms of this Amendment were unanimously approved by the
Board of Directors of the Company on May 4, 2005, subject to the approval of the
Company's shareholders, which was obtained on July 20, 2005.

            The Letter Agreement is hereby amended as follows:

     1.   Effective as of September 30, 2005, the annual salary to which you are
          entitled during the Term, which you shall receive as full
          consideration for your services thereunder, shall be equal to the sum
          of $170,500 and $187,550, respectively, for each of the years ended
          September 12, 2006 and September 12, 2007, which shall be paid to you
          in accordance with the Company's normal payroll practices.
     2.   Under the Letter Agreement, you shall be entitled to an annual minimum
          bonus of $12,000 during the Term, payable in January of each year
          during the Term, commencing in January 2006.

            For purposes of clarification, we acknowledge that the foregoing
does not affect the Company's obligation to pay to you on October 1, 2005 Common
Stock with a value of $26,750 and your monthly cash salary payable through
September 30, 2005, all on the terms and conditions set forth in the Letter
Agreement.

            Except as provided herein, the Letter Agreement shall remain
unchanged. Unless otherwise defined herein, initially capitalized terms used
herein shall have the meaning set forth in the Letter Agreement. For our
records, I would appreciate your countersigning the attached copy of this
Amendment and returning the same to me at your earliest convenience.

                                                Sincerely,
                                                /s/ Mark Weinreb
                                                Mark Weinreb, President & CEO

Accepted and agreed to:
/s/ Robert Aholt, Jr.
Robert Aholt, Jr.Exhibit 10.5

     STOCK OPTION AGREEMENT, made as of the 20th day of July 2005 (the
"Agreement"), between Phase III Medical, Inc., a Delaware corporation (the
"Company"), and _______________ (the "Optionee").

     WHEREAS, the Company has adopted the 2003 Equity Participation Plan, as
amended (the "Plan").

     WHEREAS, Optionee serves as the Company's __________.

     NOW, THEREFORE, in consideration of the foregoing, the Company hereby
grants to the Optionee the right and option to purchase Common Shares under and
pursuant to the terms and conditions of the Plan and upon and subject to the
following terms and conditions:

         1. GRANT OF OPTION; VESTING. The Company hereby grants to the Optionee
the right and option (the "Option") to purchase up to __________________
(____________) Common Shares of the Company (the "Option Shares") during the
period commencing on the date hereof and terminating at 5:00 P.M. on July 19,
2015 (the "Expiration Date"). The Option shall vest and become exercisable as to
_______ shares on the date hereof; as to an additional _______ shares on July
20, 2006 and as to the remaining ______ shares on July 20, 2007.

         2. NATURE OF OPTION. The Option is [not] intended to meet the
requirements of Section 422 of the Internal Revenue Code of 1986, as amended,
relating to "incentive stock options".

         3. EXERCISE PRICE. The exercise price of each of the Option Shares
shall be six cents ($.06) (the "Exercise Price"). The Company shall pay all
original issue or transfer taxes on the exercise of the Option.

         4. EXERCISE OF OPTIONS. The Option shall be exercised in accordance
with the provisions of the Plan. In addition to the permissible methods of
exercise provided for in the Plan, the Optionee may elect to have the Company
reduce the number of shares otherwise issuable to him upon exercise of the
Option by a number of shares having a fair market value (determined in
accordance with the provisions of the Plan) equal to the Exercise Price of the
Option being exercised (a "Net Exercise"). As soon as practicable after the
receipt of notice of exercise and payment of the Option Price as provided for in
the Plan, or upon a Net Exercise, the Company shall tender to the Optionee
certificates issued in the Optionee's name evidencing the number of Option
Shares covered thereby.

         5. RELOAD OPTIONS. In the event the Exercise Price is paid by delivery
of Common Shares (as provided for in Section 13(b)(ii) of the Plan) or through a
Net Exercise, the Optionee shall receive, contemporaneously with the payment of
the Exercise Price in such manner, and in accordance with the provisions of the
Plan, a reload stock option to purchase that number of Common Shares equal to
the sum of (i) the number of Common Shares used to exercise the Option (or not
issued in the case of a Net Exercise) and (ii) the number of Common Shares used
to satisfy any tax withholding incident to the exercise of the Option, as
provided for in the Plan.

<PAGE>

         6. TERMINATION OF EMPLOYMENT. The Option shall remain exercisable until
the Expiration Date notwithstanding any termination or cessation of employment
with the Company or its subsidiaries for any reason whatsoever.

         7. INCORPORATION BY REFERENCE. The terms and conditions of the Plan are
hereby incorporated by reference and made a part hereof.

         8. NOTICES. Any notice or other communication given hereunder shall be
deemed sufficient if in writing and hand delivered or sent by registered or
certified mail, return receipt requested, addressed to the Company, c/o
Lowenstein Sandler PC, 65 Livingston Avenue, Roseland, New Jersey 07068-1791,
Attention Alan Wovsaniker, Esq. and to the Optionee at the address indicated
below. Notices shall be deemed to have been given on the date of hand delivery
or mailing, except notices of change of address, which shall be deemed to have
been given when received.

         9. BINDING EFFECT. This Agreement shall be binding upon and inure to
the benefit of the parties hereto and their respective legal representatives,
successors and assigns.

         10. ENTIRE AGREEMENT. This Agreement, together with the Plan, contains
the entire understanding of the parties hereto with respect to the subject
matter hereof and may be modified only by an instrument executed by the party
sought to be charged.

                  [Remainder of page intentionally left blank]

<PAGE>

     IN WITNESS WHEREOF, the parties have executed this Agreement as of the day
and year first above written.

                                 PHASE III MEDICAL, INC.

                                 By:
                                    --------------------------------------------
                                     Mark Weinreb
                                     President and CEO

                                    --------------------------------------------
                                    Signature of Optionee

                                    --------------------------------------------
                                    Name of Optionee

                                    --------------------------------------------
                                    Address of Optionee

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00089-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00089-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00089-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00089-of-00352.parquet"}]]