Document:

Stock Option Agreement

    EXHIBIT
      10.5

    
 

    INTERLAND,
      INC.

    2006
      EQUITY INCENTIVE PLAN

    NOTICE
      OF GRANT

    (Format
      for Immediate Vest)

     

    This
      Notice of Grant (the "Agreement")
      is
      made and entered into as of the date of grant set forth below (the "Date
      of Grant")
      by and
      between Web.com, Inc., a Minnesota corporation (f/k/a Interland, Inc.) (the
      “Company”),
      and
      the participant named below (the "Participant").
      Capitalized terms not defined herein shall have the meaning ascribed to them
      in
      Interland, Inc. 2006 Equity Incentive Plan.

     

    Participant:        

    Total
      Option Shares:      

    Exercise
      Price Per Share:     $     

    Date
      of Grant:       

    First
      Vesting Date:      100%
      Vested on Date of Grant

    Expiration
      Date:       

     

     

    IN
      WITNESS WHEREOF,
      the
      Company has caused this Agreement to be executed in duplicate by its duly
      authorized representative and Participant has executed this Agreement in
      duplicate, effective as of the Date of Grant.

    

    

    
      	
              WEB.COM,
                INC.

            	
              PARTICIPANT

            
	 	 
	 	 
	
              By:
                

            	 
	
              /s/
                Jeffrey M. Stibel

            	
              ___________________________________

            
	 	
              (Signature)

            
	 	 
	
              Jeffrey
                M. Stibel

            	
              ___________________________________

            
	
              (Please
                print name)

            	
              (Please
                print name)

            
	 	 
	
              Chief
                Executive Officer

            	 
	
              (Please
                print title)

            	 

    

    
      
        
        

      

      
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    TERMS
      AND CONDITIONS

    OF
      NOTICE OF GRANT

    

    1. GRANT
      OF OPTION.
      The
      Company hereby grants to Participant an option (this "OPTION")
      to
      purchase the total number of shares of Common Stock, .01 par value, of the
      Company set forth above as Total Option Shares (the "SHARES")
      at the
      Exercise Price Per Share set forth above (the "EXERCISE
      PRICE"),
      subject to all of the terms and conditions of this Agreement and the
      Plan.

    

    2. EXERCISE
      PERIOD.

    

    2.1 Exercise
      Period of Option.
      Provided Participant continues to provide services to the Company or a
      Subsidiary, the Option will become vested and exercisable as to portions of
      the
      Shares as follows: (i) this Option shall not vest nor be exercisable with
      respect to any of the Shares until the First Vesting Date set forth on the
      first
      page of this Agreement (the "FIRST
      VESTING DATE");
      and
      (ii) on the First Vesting Date the Option will become vested and exercisable
      as
      to one
      hundred percent 100%
      of the
      Shares. If application of the vesting percentage causes a fractional share,
      such
      share shall be rounded down to the nearest whole share for each month except
      for
      the last month in such vesting period, at the end of which last month this
      Option shall become exercisable for the full remainder of the
      Shares.

    

    2.2 Vesting
      of Options.
      Shares
      that are vested pursuant to the schedule set forth in Section 2.1 are
      "VESTED
      SHARES."
      Shares
      that are not vested pursuant to the schedule set forth in Section 2.1 are
      "UNVESTED
      SHARES."

    

    3. TERMINATION.

    

    3.1 Termination
      for Any Reason Except Death, Disability or Cause.
      If
      Participant is Terminated for any reason other than death, Disability or for
      Cause, then the Participant may exercise such Participant's Options only to
      the
      extent that such Options are exercisable upon the Termination Date or as
      otherwise determined by the Committee. Such Options must be exercised by the
      Participant, if at all, as to all or some of the Vested Shares calculated as
      of
      the Termination Date or such other date determined by the Committee, within
      thirty (30) days after the Termination Date but in any event, no later than
      the
      expiration date of the Options.

    

    3.2 Termination
      Because of Death or Disability.
      If
      Participant is Terminated because of Participant's death or Disability (or
      the
      Participant dies within thirty (30) days after a Termination other than for
      Cause), then Participant's Options may be exercised only to the extent that
      such
      Options are exercisable by Participant on the Termination Date or as otherwise
      determined by the Committee. Such options must be exercised by Participant
      (or
      Participant's legal representative or authorized assignee), if at all, as to
      all
      or some of the Vested Shares calculated as of the Termination Date or such
      other
      date determined by the Committee, within twelve (12) months after the
      Termination Date but in any event no later than the expiration date of the
      Options.

    

    
      
        
        

      

      
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    3.3 Termination
      for Cause.
      If
      Participant is terminated for Cause, then Participant's Options shall expire
      on
      such Participant's Termination Date, or at such later time and on such
      conditions as are determined by the Committee.

    

    3.4 No
      Obligation to Employ.
      Nothing
      in the Plan or this Agreement shall confer on Participant any right to continue
      in the employ of, or other relationship with, The Company or a Subsidiary or
      limit in any way the right of The Company or a Subsidiary to terminate
      Participant's employment or other relationship at any time, with or without
      Cause.

    

    3.5 Confidentiality.
      Participant agrees that information regarding this Option, including, but not
      limited to, the issuance of the Option to Participant and the number of Shares
      subject to the Option, is The Company confidential information, and is subject
      to Participant's obligations to maintain such information in confidence.
      Participant agrees not to disclose such information to any third party, except
      to his or her immediate family members, accountants, financial advisors and
      attorneys (each of whom shall be informed of the confidential nature of the
      information and agree not to disclose the information to any third party),
      or as
      required by law. Participant agrees that the Committee may, at its discretion,
      immediately terminate all or part of this Option if Participant violates this
      Section 3.5.

    

    4. MANNER
      OF EXERCISE.

    

    4.1 Stock
      Option Exercise Agreement.
      To
      exercise this Option, Participant (or in the case of exercise after
      Participant's death or incapacity, Participant's executor, administrator, heir
      or legatee, as the case may be) must deliver to The Company an executed stock
      option exercise agreement in such form as may be approved by the Committee
      from
      time to time (the "EXERCISE
      AGREEMENT"),
      which
      shall set forth, inter alia,
      (i)
      Participant's election to exercise the Option, (ii) the number of Shares being
      purchased, (iii) any restrictions imposed on the Shares and (iv) any
      representations, warranties and agreements regarding Participant's investment
      intent and access to information as may be required by The Company to comply
      with applicable securities laws. If someone other than Participant exercises
      the
      Option, then such person must submit documentation reasonably acceptable to
      The
      Company verifying that such person has the legal right to exercise the Option
      and such person shall be subject to all of the restrictions contained herein
      as
      if such person were the Participant.

    

    4.2 Limitations
      on Exercise.
      The
      Option may not be exercised unless such exercise is in compliance with all
      applicable federal and state securities laws, as they are in effect on the
      date
      of exercise. The Option may not be exercised as to fewer than one hundred (100)
      Shares unless it is exercised as to all Shares as to which the Option is then
      exercisable.

    

    
      
        
        

      

      
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    4.3 Payment.
      The
      Exercise Agreement shall be accompanied by full payment of the Exercise Price
      for the shares being purchased in cash (by check), or where permitted by
      law:

    

    (a)
      by
      cancellation of indebtedness of the Company or a Subsidiary to the
      Participant;

    

    (b)
      by
      surrender of shares of the Company's Common Stock that (i) either (A) have
      been
      owned by Participant for more than six (6) months and have been paid for within
      the meaning of SEC Rule 144 (and, if such shares were purchased from The Company
      by use of a promissory note, such note has been fully paid with respect to
      such
      shares); or (B) were obtained by Participant in the open public market; and
      (ii)
      are clear of all liens, claims, encumbrances or security interests;

    

    (c)
      by
      waiver of compensation due or accrued to Participant from the Company or a
      Subsidiary for services rendered;

    

    (d)
      provided that a public market for The Company's stock exists: (i) through a
      "same day sale" commitment from Participant and a broker-dealer that is a member
      of the National Association of Securities Dealers (an "NASD
      DEALER")
      whereby Participant irrevocably elects to exercise the Option and to sell a
      portion of the Shares so purchased sufficient to pay for the total Exercise
      Price and whereby the NASD Dealer irrevocably commits upon receipt of such
      Shares to forward the total Exercise Price directly to The Company, or (ii)
      through a "margin" commitment from Participant and an NASD Dealer whereby
      Participant irrevocably elects to exercise the Option and to pledge the Shares
      so purchased to the NASD Dealer in a margin account as security for a loan
      from
      the NASD Dealer in the amount of the total Exercise Price, and whereby the
      NASD
      Dealer irrevocably commits upon receipt of such Shares to forward the total
      Exercise Price directly to The Company; or

    

    (e)
      any
      other form of consideration approved by the Committee; or

    

    (f)
      by
      any combination of the foregoing.

    

    4.4 Tax
      Withholding.
      Prior
      to the issuance of the Shares upon exercise of the Option, Participant must
      pay
      or provide for any applicable federal, state and local withholding obligations
      of the Company or any Subsidiary. If the Committee permits, Participant may
      provide for payment of withholding taxes upon exercise of the Option by
      requesting that the Company retain the minimum number of Shares with a Fair
      Market Value equal to the minimum amount of taxes required to be withheld;
      but
      in no event will the Company withhold Shares if such withholding would result
      in
      adverse accounting consequences to the Company or any Subsidiary. In such case,
      the Company shall issue the net number of Shares to the Participant by deducting
      the Shares retained from the Shares issuable upon exercise.

    

    
      
        
        

      

      
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    4.5 Issuance
      of Shares.
      Provided that the Exercise Agreement and payment are in form and substance
      satisfactory to counsel for the Company, the Company shall issue the Shares
      registered in the name of Participant, Participant's authorized assignee, or
      Participant's legal representative, and shall deliver certificates representing
      the Shares with the appropriate legends affixed thereto.

    

    5. CORPORATE
      TRANSACTIONS.

    

    5.1 Assumption
      or Replacement of Options by Successor.
      In the
      event of a Change in Control all outstanding Options shall become fully
      exercisable, and such Options shall be assumed or replaced by the Acquiring
      Corporation which assumption, conversion or replacement will be binding on
      all
      Participants.

    

    5.2 Replacement
      Awards.
      Replacement Options shall be at least as favorable to Participants in every
      respect as those replaced.

    

    5.3 Other
      Treatment of Options.
      Subject
      to any greater rights granted to Participants under the foregoing provisions
      of
      this Section 5, in the event of the occurrence of any transaction described
      in
      Section 5.1 hereof, any outstanding Options will be treated as provided in
      the
      applicable agreement or plan of merger, consolidation, dissolution, liquidation
      or sale of assets.

    

    6. COMPLIANCE
      WITH LAWS AND REGULATIONS.
      The
      exercise of the Option and the issuance and transfer of Shares shall be subject
      to compliance by The Company and Participant with all applicable requirements
      of
      federal and state securities laws and with all applicable requirements of any
      stock exchange on which The Company's Common Stock may be listed at the time
      of
      such issuance or transfer. Participant understands that neither the Company
      nor
      any Subsidiary is under any obligation to register or qualify the Shares with
      the SEC, any state securities commission or any stock exchange to effect such
      compliance.

    

    7. NONTRANSFERABILITY
      OF OPTION.
      The
      Option may not be transferred in any manner other than by will or by the laws
      of
      descent and distribution or as determined by the Committee. The terms of the
      Option shall be binding upon the executors, administrators, successors and
      assigns of Participant. Unless otherwise restricted by the Committee, the Option
      shall be exercisable: (i) during the Participant's lifetime only by (A) the
      Participant, (B) the Participant's guardian or legal representative, (C) a
      Family Member of the Participant who has acquired the Option by "permitted
      transfer;" and (ii) after Participant's death, by the legal representative
      of
      the Participant's heirs or legatees. "Permitted transfer" means, as authorized
      by this Plan and the Committee in an Option, any transfer effected by the
      Participant during the Participant's lifetime of an interest in such Option
      but
      only such transfers which are by gift or domestic relations order. A permitted
      transfer does not include any transfer for value and neither of the following
      are transfers for value: (a) a transfer of under a domestic relations order
      in
      settlement of marital property rights or (b) a transfer to an entity in which
      more than fifty percent of the voting interests are owned by Family Members
      or
      the Participant in exchange for an interest in that entity.

    

    
      
        
        

      

      
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    8. TAX
      CONSEQUENCES.
      Set
      forth below is a brief summary as of the Effective Date of the Plan of some
      of
      the tax consequences of exercise of the Option and disposition of the Shares.
      THIS SUMMARY IS NECESSARILY INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE
      SUBJECT TO CHANGE. PARTICIPANT SHOULD CONSULT A TAX ADVISER BEFORE EXERCISING
      THE OPTION OR DISPOSING OF THE SHARES.

    

    8.1 Exercise
      of Nonqualified Stock Option.
      There
      may be a regular federal and state income tax liability upon the exercise of
      the
      Option. Participant will be treated as having received compensation income
      (taxable at ordinary income tax rates) equal to the excess, if any, of the
      Fair
      Market Value of the Shares on the date of exercise over the Exercise Price.
      If
      Participant is a current or former employee of the Company or a Subsidiary,
      the
      Company may be required to withhold from Participant's compensation or collect
      from Participant and pay to the applicable taxing authorities an amount equal
      to
      a percentage of this compensation income at the time of exercise.

    

    8.2 Disposition
      of Shares.
      The
      following tax consequences may apply upon disposition of the Shares. If the
      Shares are held for more than twelve (12) months after the date of purchase
      of
      the Shares pursuant to the exercise of an Option, any gain realized on
      disposition of the Shares will be treated as long term capital gain. If the
      Shares are disposed of within this twelve (12) month period, any gain realized
      on such disposition will be treated as compensation income. The Company may
      be
      required to withhold from the Participant's compensation or collect from the
      Participant and pay to the applicable taxing authorities an amount equal to
      a
      percentage of this compensation income.

    

    9. PRIVILEGES
      OF STOCK OWNERSHIP.
      Participant shall not have any of the rights of a stockholder with respect
      to
      any Shares until the Shares are issued to Participant.

    

    10. INTERPRETATION.
      Any
      dispute regarding the interpretation of this Agreement shall be submitted by
      Participant or the Company to the Committee for review. The resolution of such
      a
      dispute by the Committee shall be final and binding on the Company and
      Participant.

    

    11. ENTIRE
      AGREEMENT.
      The
      Plan is incorporated herein by reference. This Agreement and the Plan constitute
      the entire agreement of the parties and supersede all prior undertakings and
      agreements with respect to the subject matter hereof.

    

    12. NOTICES.
      Any
      notice required to be given or delivered to the Company under the terms of
      this
      Agreement shall be in writing and addressed to the Corporate Secretary of the
      Company at its principal corporate offices. Any notice required to be given
      or
      delivered to Participant shall be in writing and addressed to Participant at
      the
      address indicated above or to such other address as such party may designate
      in
      writing from time to time to the Company. All notices shall be deemed to have
      been given or delivered upon: (i) personal delivery; (ii) three (3) days after
      deposit in the United States mail by certified or registered mail (return
      receipt requested); (iii) one (1) business day after deposit with any return
      receipt express courier (prepaid); or (iv) one (1) business day after
      transmission by facsimile, rapifax or telecopier.

    

    
      
        
        

      

      
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    13. SUCCESSORS
      AND ASSIGNS.
      The
      Company may assign any of its rights under this Agreement. This Agreement shall
      be binding upon and inure to the benefit of the successors and assigns of the
      Company. Subject to the restrictions on transfer set forth herein, this
      Agreement shall be binding upon Participant and Participant's heirs, executors,
      administrators, legal representatives, successors and assigns.

    

    14. GOVERNING
      LAW.
      This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of Minnesota. If any provision of this Agreement is determined by a court
      of law to be illegal or unenforceable, then such provision will be enforced
      to
      the maximum extent possible and the other provisions will remain fully effective
      and enforceable. 

    

    15. ACCEPTANCE.
      Participant hereby acknowledges receipt of a copy of the Plan and this
      Agreement. Participant has read and understands the terms and provisions
      thereof, and accepts the Option subject to all the terms and conditions of
      the
      Plan and this Agreement. Participant acknowledges that there may be adverse
      tax
      consequences upon exercise of the Option or disposition of the Shares and that
      Participant should consult a tax adviser prior to such exercise or
      disposition.

    

    
       

      
        7Exhibit 10.1 Separation Agreement

    
      

    

     

                                                                                    Exhibit
      10.1

     

    

    SEPARATION
      AGREEMENT

     

    This
      Separation Agreement (the “Agreement”) is entered into as of March 31, 2006,
      between SIGA Technologies, Inc., a Delaware corporation (the “Company”), and
      Bernard Kasten, M.D. (“Executive”).

     

    WHEREAS,
      the
      Company no longer desires to employ Executive and Executive no longer desires
      to
      be employed by the Company, the parties hereto agree to terminate Executive’s
      employment on the terms and conditions set forth herein.

    

    NOW,
      THEREFORE, in
      consideration of the foregoing premises and of the mutual agreements and
      covenants hereinafter set forth, the parties agree to the terms and conditions
      of this Agreement as follows:

    

    
      	
              1.

            	
              EMPLOYMENT
                AGREEMENT TERMINATED.
                Except as otherwise expressly set forth below, all terms and conditions
                of
                the Employment Agreement dated July 2, 2004 between Executive and
                Company
                (the “Employment Agreement”) are hereby terminated, and this Agreement and
                its attachment expressly
                supersede any and all previous understandings and agreements between
                the
                Company and Executive and constitute the sole and exclusive understanding
                between the Company and Executive concerning the subjects set forth
                herein. 

            

    

    

    
      	
              2.

            	
              REMAINING
                TENURE.
                Executive shall retain the title of Chief Executive Officer (“CEO”)
                through and including April 30, 2006 or until he obtains new employment,
                whichever occurs first (the “Remaining Tenure”).
                

            

    

    

    
      	
              3.

            	
              CONSIDERATION.
                

            

    

    

    
      	 	
              a.

            	
              Salary.
                During the Remaining Tenure and for an additional period beginning
                the
                first business day after the end of the Remaining Tenure and continuing
                through September 16, 2006 (the “Separation Period”), Executive shall
                receive his salary on the terms and conditions set forth in Section
                3(a)
                of the Employment Agreement in lieu of any other severance or payment.
                

            

    

    

    
      	 	
              b.

            	
              Options.
                Concurrently with the execution of this Agreement, the parties will
                execute an amendment to Executive’s Incentive
                Stock Option Agreement (relating to the “Time Vested Options,” as such
                term is defined in the Employment Agreement)
                that is substantially in the form of the annexed Exhibit A. Executive’s
                Incentive Stock Option Agreement (relating to the “Milestone Options,” as
                such term is defined in the Employment Agreement) is cancelled and
                hereby
                declared void ab
                initio
                and of no further force or effect. The parties’ rights and obligations
                with respect to all options in Company stock, whether vested or unvested,
                shall be as set forth in the amended Incentive Stock Option Agreement
                (relating to the Time Vested 

            

    

    
      	 	
               

            	 

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
 

    Options),
      notwithstanding anything in the Employment
      Agreement to the contrary.

    

    
      	 	
              c.

            	
              Medical
                and/or Dental Insurance Benefits.
                Executive will be permitted to continue participation in the Company's
                group medical and/or dental insurance benefit plans as in effect
                and
                amended from time to time at the contribution level in effect for
                active
                employees until (i) the end of the Remaining Tenure, (ii) he becomes
                entitled to Medicare or (iii) he becomes eligible for coverage under
                medical and/or dental insurance benefit plans, as the case may be,
                of
                another employer through his future employment, whichever occurs
                first.
                Executive shall notify the Company of his eligibility for coverage
                under
                medical and/or dental insurance benefit plans of any future employer
                of
                Executive promptly and no later than the date when such coverage
                begins.

            

    

    

    
      	
              4.

            	
              COOPERATION.
                During the Remaining Tenure and Separation Period, Executive shall
                be
                available to the Company on a reasonable basis for transitional purposes,
                including, but not limited to, working on continuing funding projects,
                the
                proposed transaction between the Company and PharmAthene, Inc., Company
                obligations with respect to the Securities and Exchange Commission
                (“SEC”)
                and the transition of contacts developed in connection with Executive’s
                work as CEO. At any time, upon request, Executive shall give his
                assistance and cooperation willingly in any matter relating to his
                expertise or experience as the Company may reasonably request, including
                his attendance and truthful testimony where deemed appropriate by
                the
                Company, with respect to any investigation or the Company's defense
                or
                prosecution of any existing or future claims or litigations relating
                to
                matters in which he was involved or potentially has knowledge by
                virtue of
                his employment with the Company.

            

    

    

    
      	
              5.

            	
              NON-DISPARAGEMENT.
                Executive will not disparage or defame the Company, its employees,
                officers, directors or shareholders, any of its actual or proposed
                products or services, the proposed combination of the Company and
                PharmAthene, Inc. or any other activity of the Company during his
                tenure
                with the Company. The Company will not disparage or defame Executive.
                The
                parties acknowledge that providing substantially accurate information
                concerning Executive’s period of tenure or job titles with the Company
                shall not violate this Agreement. 

            

    

    

    
      	
              6.

            	
              ANNOUNCEMENT
                OF SEPARATION.
                The parties shall work in good faith to craft a mutually acceptable
                public
                announcement concerning the subject of this Agreement, including
                a press
                release and Company disclosure on SEC Form
                8-K.

            

    

    

    
      	
              7.

            	
              OUT-OF-POCKET
                EXPENSES.
                During the Remaining Tenure and Separation Period, Executive shall
                be
                reimbursed for all legitimate out-of-pocket expenses actually incurred
                in
                connection with his cooperation with the Company pursuant to Paragraph
                4
                of this Agreement, so long as such expenses are approved in advance
                and
                substantiated with appropriate
                receipts.

            

    

     

    
 

    
      
        
        

      

      
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      	8.             
              	
              COMPANY
                PROPERTY.
                At the end of the Remaining Tenure, Executive shall return all Company
                property in his possession or control, including, without limitation,
                computer disks or data (including, without limitation, data retained
                on
                any computer), any home-office equipment or computers purchased or
                provided by the Company, and any records, documents, files or other
                materials. Executive may retain the computer monitor and other devices
                without data storage capabilities previously supplied or made available
                to
                him that have never contained Company data if, within seven (7) days
                of
                the execution of this Agreement, he shall remit to the Company the
                full
                purchase cost of such items.

            

    

    

    
      	
              9.

            	
              INDEMNIFICATION.
                Executive shall remain entitled to indemnification from the Company
                under
                the terms of the Company’s certificate of incorporation and bylaws as in
                effect on
                the date of this Agreement for acts relating to his employment by
                the
                Company. Without limiting the foregoing, the Company agrees to indemnify
                Executive in accordance with the Company’s certificate of incorporation
                and bylaws in connection with the claims arising out of the pending
                litigation with Four Star Group without Executive being required
                to make
                any further demand or notice, effective on the receipt by the Company
                of
                Executive’s undertaking.

            

    

    

    
      	10.          
              	
              RELEASES.
                

            

    

    

    
      	 	
              (a)

            	
              RELEASE
                OF COMPANY.
                Executive hereby releases and holds harmless (on behalf of himself
                and his
                family, heirs, executors, agents, successors and assigns) now and
                forever,
                the Company from and waives any claim in any legal jurisdiction that
                he
                has presently or may have or has had in the past, known or unknown,
                against the Company upon or by reason of any matter, cause or thing
                whatsoever, from the beginning of the world to the date of this release,
                including, without limitation, all claims arising from his employment
                with, or termination of employment from, the Company, or otherwise.
                Without limiting the generality of the preceding, this Agreement
                is
                intended to and shall release the Company from any and all claims
                or
                rights arising under any federal, state or local statute (including,
                without limitation, Title VII of the Civil Rights Act of 1964, as
                amended,
                the Age Discrimination in Employment Act of 1967, as amended, the
                Equal
                Pay Act, as amended, the Americans with Disabilities Act of 1990,
                as
                amended, the Employee Retirement Income Security Act of 1974, as
                amended,
                the Family and Medical Leave Act of 1993, as amended, the Fair Labor
                Standards Act, as amended, and all other statutes regulating the
                terms and
                conditions of your employment), regulation or ordinance, under the
                common
                law or in equity (including any claims for wages, wrongful discharge,
                discrimination, or otherwise), or under any policy, agreement,
                understanding or promise, written or oral, formal or informal, between
                the
                Company and Executive, including, without limitation, any claim Executive
                might have for severance, termination or severance pay. Notwithstanding
                the provision of any state law, and for the purpose of implementing
                a full
                and complete release and discharge of the Company, Executive expressly
                acknowledges that this Agreement is intended to include in its effect,
                without limitation, all claims which Executive does not
                know

            

    

     

    
 

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    of
      or
      suspect to exist in his favor at the time of signing this Agreement and arising
      from his employment with or termination of employment from the Company, and
      that
      this Agreement contemplates the release of any such claim.

    

    
      	 	
              (b)

            	
              COVENANT
                NOT TO SUE.
                Executive will not sue the Company’s shareholders, or the officers,
                directors, employees, agents, attorneys, successors or assigns of
                any of
                the Company or its shareholders (collectively, with the Company’s
                shareholders, the “Company-Related Group”), regarding any claim or matter
                relating to or arising out of Executive’s employment with the Company, the
                termination of Executive’s employment, or any other event or activity
                relating or pertaining to the Company; provided,
                however,
                that the covenant set forth in this Paragraph 10(b) shall not bar
                the
                assertion of any defense or counterclaim to any claim brought by
                any
                member of the Company-Related Group. Executive acknowledges that
                all
                members of the Company-Related Group are intended third-party
                beneficiaries of this covenant.

            

    

    

    
      	 	
              (c)

            	
              RELEASE
                OF EXECUTIVE.
                The Company hereby releases and holds harmless (on behalf of itself
                and
                its agents, successors and assigns) now and forever, the
                Executive (and
                his family, heirs, executors, agents, successors and assigns) from,
                and
                waives any claim in any legal jurisdiction that it has presently
                or may
                have or has had in the past, known or unknown, against, the Executive
                upon
                or by reason of any matter, cause or thing whatsoever, from the beginning
                of the world to the date of this release, including, without limitation,
                all claims arising from the Executive’s employment with, or termination of
                employment from, the Company, or
                otherwise.

            

    

    

    
      	 	
              (d)

            	
              STOCK
                OPTION AGREEMENT NOT RELEASED.
                The releases set forth in this Paragraph 10 do not extend to the
                rights
                and obligations set forth in this Agreement or the amended Incentive
                Stock
                Option Agreement.

            

    

    

    
      	
              11.

            	
              CONFIDENTIALITY,
                INVENTION OWNERSHIP AND RELATED COVENANTS.
                Executive shall remain bound by the obligations contained in Section
                8(a),
                8(b) and 8(c) of the Employment Agreement. In addition, Executive
                shall
                not at any time divulge to any other entity or person any confidential
                information acquired by Executive concerning the Company’s or its
                affiliates’ financial affairs or business processes or methods or their
                research, development or marketing programs or plans, any other of
                its or
                their trade secrets, any information regarding personal matters of
                any
                directors, officers, employees or agents of the Company or their
                respective family members, any information concerning this Agreement
                or
                the terms thereof, or any information concerning the circumstances
                of
                Executive’s employment with and any termination of Executive’s employment
                from the Company, or any information regarding discussions related
                to any
                of the foregoing or make, write, publish, produce or in any way
                participate in placing into the public domain any statement, opinion
                or
                information with respect to any of the foregoing or that reflects
                adversely upon or would reasonably impair the reputation or best
                interests
                of the Company or any of its directors, officers, employees or agents
                or
                their

            

    

     

    
 

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    respective
      family members, except in each case (i) information that is required to be
      disclosed by court order, subpoena or other judicial process,
      (ii) information regarding Executive’s job responsibilities during his
      employment with the Company to prospective employers in connection with an
      application for employment, (iii) information regarding the financial terms
      of
      this Agreement to Executive’s spouse or his tax advisor for purposes of
      obtaining tax advice provided that such persons are made aware of and agree
      to
      comply with the confidentiality obligation, (iv) information that is necessary
      to be disclosed to Executive’s attorney to determine whether Executive should
      enter into this Agreement or (v) information mutually agreed upon pursuant
      to
      Paragraphs 4 or 6 of this Agreement. The foregoing prohibitions shall include,
      without limitation, directly or indirectly publishing (or causing, participating
      in, assisting or providing any statement, opinion or information in connection
      with the publication of) any diary, memoir, letter, story, photograph,
      interview, article, essay, account or description (whether fictionalized or
      not)
      concerning any of the foregoing, publication being deemed to include any
      presentation or reproduction of any written, verbal or visual material in any
      communication medium, including any book, magazine, newspaper, electronic or
      internet publication or discussion group, theatrical production or movie, or
      television or radio programming or commercial. In addition to any and all other
      remedies available to the Company for any violation of this Paragraph, Executive
      agrees to immediately remit and disgorge to the Company any and all payments
      paid or payable to him in connection with or as a result of engaging in any
      of
      the above acts. In the event that Executive is required to make disclosure
      under
      any court order, subpoena or other judicial process that in any way relates
      to
      his employment with the Company or any of the foregoing matters described above,
      Executive will promptly notify the Company so that the Company may seek
      appropriate relief from such disclosure or waive Executive’s duty of
      nondisclosure hereunder, provided that, if, following any such effort by the
      Company to avoid disclosure, Executive shall, in the reasonable opinion of
      his
      counsel, stand liable for contempt or suffer other censure or penalty for
      failure to disclose, Executive may make such disclosure under terms that seek
      to
      protect confidentiality to the extent permissible without liability hereunder.
      Executive shall permit the Company to participate with counsel of its choice
      in
      any proceeding relating to such compulsory disclosure and shall cooperate with
      the Company’s efforts to avoid disclosure. Executive acknowledges that all
      information the disclosure of which is prohibited by this Paragraph is of a
      confidential and proprietary character and of great value to the
      Company.

    

    
      	
              12.

            	
              FREE
                WILL.
                Executive is entering into this Agreement of his own free will and
                without
                coercion, intimidation or threat of retaliation. He acknowledges
                and
                agrees that the Company has not exerted any undue pressure or influence
                on
                him in this regard. Executive acknowledges that he has had reasonable
                time
                to determine whether entering into this Agreement is in his best
                interest,
                has retained counsel and has read and fully understands the terms
                set
                forth in this Agreement.

            

    

    

    
      	
              13.

            	
              PENALTIES.
                If Executive initiates or participates (other than as a witness providing
                truthful testimony or relevant documents in his possession or control,
                subject to Section 11 of this Agreement) in any lawsuit or other
                legal
                action arising out of his
                employment

            

    

    
      	
               

            	 

    

     

    
 

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    with
      the
      Company or the termination of his employment with the Company, the Company
      may,
      except as otherwise prohibited by law, reclaim any and all amounts paid under
      Section 3(a), 3(c) or 7 of this Agreement, without waiving the release granted
      herein, and terminate any unpaid or unvested benefit or payment that is due
      under this Agreement, in addition to any other remedies it may have. In
      addition, in any action brought to enforce this Agreement, the prevailing party
      shall be entitled to receive all of its reasonable attorneys’ fees and costs
      incurred resulting from, or incident to, any such litigation.

    

    
      	
              14.

            	
              NOTICE.
                Any notice to be given under this Agreement shall be given in writing
                and
                delivered either personally or sent by certified mail to the Company
                c/o
                Chief Financial Officer at 420 Lexington Avenue, Suite 408, New York,
                New
                York 10170, and to you at 4380 27th
                Court, S.W., Building No. One, #104, Naples, Florida 34116, with
                a copy to
                Bradley G. Haas, Esq., Katz Teller Brant & Hild, 255 East Fifth
                Street, Suite 2400, Cincinnati, OH
                45202.

            

    

    

    
      	
              15.

            	
              NON-ADMISSION.
                Nothing contained in this Agreement shall be deemed or construed
                as an
                admission of wrongdoing or liability on the part of the Company or
                Executive.

            

    

    

    
      	
              16.

            	
              SEVERABILITY.
                Should any provision or part of this Agreement be found to be invalid
                or
                unenforceable, only that particular provision or part so found and
                not the
                entire agreement shall be
                inoperative.

            

    

    

    
      	
              17.

            	
              ASSIGNMENT.
                This Agreement may be assigned by the Company to (i) any affiliate
                of the
                Company or (ii) any non-affiliate of the Company that shall acquire
                all or
                the greater part of the business and assets of the Company. In the
                event
                of any such assignment, the Company shall cause such affiliate or
                non-affiliate, as the case may be, to assume the obligations of the
                Company hereunder with the same effect as if such assignee were the
                “Company” hereunder. This Agreement is personal to Executive and Executive
                may not assign any rights or delegate any responsibilities hereunder
                without the prior approval of the
                Company.

            

    

    

    
      	
              18.

            	
              NON-ALIENATION.
                Executive shall not have any right to pledge, hypothecate or in any
                way
                create a lien upon any payment or benefit provided under this Agreement,
                and no such payment or benefit shall be assignable in anticipation
                of
                payment, either by voluntary or involuntary acts or by operation
                of
                law.

            

    

    

    
      	
              19.

            	
              GOVERNING
                LAW AND CHOICE OF FORUM.
                This Agreement shall be governed by, and construed pursuant to, the
                laws
                of the State of New York applicable to agreements made and to be
                performed
                in New York by citizens thereof. The parties consent and agree to
                the
                exclusive jurisdiction of the federal and state courts sitting in
                the
                County of New York in the State of New York for all purposes. Notice
                of
                any lawsuit may, but need not, be sent in accordance with Paragraph
                14
                above in lieu of any other allowable
                method.

            

    

     

    
 

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    
      	20.          
              	
              ENTIRE
                AGREEMENT.
                This Agreement and its attachment constitute the sole and exclusive
                understanding between the Company and Executive concerning the subjects
                set forth herein, other than the surviving terms of the Employment
                Agreement and the amended Incentive Stock Option Agreement (relating
                to
                Time Vested Options) expressly referenced herein or in the attachment,
                the
                terms of which remain in full force and effect. Neither this Agreement
                nor
                the attachment may be altered, modified, changed or discharged except
                in a
                writing signed by Executive and agreed to by the
                Company.

            

    

    

    IN
      WITNESS WHEREOF,
      the
      parties hereto have executed this Agreement as of the date first written
      above.

    

    SIGA
      TECHNOLOGIES, INC.

    

    By: /s/
      Thomas
      N.
      Konatich                                   

          
                        Thomas
      N. Konatich

          
                        Chief
      Financial Officer

     

    

    

    /s/
      Bernard
      Kasten       

    Bernard
      Kasten, M.D.

     

    KTBH:659076.2

     

     

     

     

    7

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