Document:

CLEVELAND
      BIOLABS, INC.

    EMPLOYMENT
      AGREEMENT

     

    THIS
      EMPLOYMENT AGREEMENT (the “Agreement”),
      made
      as of this 1st
      day of
      August, 2004, is entered into by Cleveland Biolabs, Inc., a Delaware
      corporation with its principal place of business at 10265 Carnegie Ave.,
      Cleveland, OH 44106 (and together with its subsidiaries, affiliates,
      successors or assigns the “Company”),
      and
      Dr. Michael Fonstein, (the “Executive”).

     

    PRELIMINARY
      RECITALS

     

    A. The
      Company, among other things, is engaged in the business of conducting research
      and development of new pharmaceuticals in the field of cancer treatment and
      that
      provide protection for cells against harmful radiation (the “Business”).

     

    B. Executive
      has been employed as the Company’s Chief
      Executive Officer
      and with
      the Company since its inception in June 2003.

     

    C. The
      Company and Executive desire to formally state the terms of said employment
      and
      set forth the terms and conditions of Executive’s continued employment with the
      Company in this Agreement.

     

    NOW,
      THEREFORE,
      in
      consideration of the premises, the mutual covenants of the parties hereinafter
      set forth and other good and valuable consideration, the receipt and sufficiency
      of which are hereby acknowledged, the parties hereto hereby agree as
      follows:

     

    1.  Employment.

     

    1.1  Engagement;
      Duties and Powers.
      The
      Company agrees to employ Executive, and Executive agrees to accept employment
      with the Company, as Chief Executive Officer for the Term and in accordance
      with
      the terms and conditions of this Agreement. During the Term, Executive shall
      serve as the Company’s Chief Executive Officer and shall have such
      responsibilities, duties and authorities, and shall render such services of
      an
      executive and administrative character or act in such other capacity for the
      Company and its affiliates, as the board of directors of the Company (the
“Board”)
      shall
      from time to time lawfully direct. Executive shall perform the duties and carry
      out the responsibilities assigned to him, to the best of his ability, in a
      trustworthy, businesslike and efficient manner for the purpose of advancing
      the
      business of the Company. Executive acknowledges that his duties and
      responsibilities hereunder will require his full business time and effort and
      agrees that, during the Term, he will not engage in any other business activity
      or have any business pursuits or interests which materially interfere or
      conflict with the performance of his duties hereunder, provided, that nothing
      in
      this Section 1.1
      shall be
      deemed to prohibit Executive from making Permitted Investments. Executive may
      accept positions on grant panels, boards of Directors, act as a consultant
      for
      compensation with the permission of the Board.

     

    1.2  Term.
      The
      engagement of Executive under this Agreement shall begin on the date hereof
      and
      shall continue through and until December 31, 2007 (the “Initial
      Period”)
      unless
      extended as provided in this Section 1.2.
      Thereafter, the term of this Agreement shall automatically renew and extend
      for
      additional consecutive one-year periods (“Renewal
      Periods”)
      unless
      one of the parties shall deliver a written notice of termination to the other
      party at least sixty (60) days prior to the expiration of the Initial Period
      or
      any Renewal Period. The Initial Period through the then current Renewal Period,
      if any, is hereinafter referred to as the “Term.”
      Notwithstanding anything to the contrary contained herein, the Term is subject
      to termination pursuant to Section 1.3.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    1.3  Termination.
      

     

    (a)  If
      Executive dies during the Term, this Agreement shall automatically terminate
      on
      the date of Executive’s death.

     

    (b)  The
      Company may terminate Executive’s employment hereunder upon written notice to
      Executive at any time (i) due to the Permanent Disability of Executive or
      (ii) for Cause or without Cause, for any or no reason. Such termination
      shall be effective upon the date of service of such notice pursuant to
Section 14.6.

     

    For
      purposes of this Agreement, “Cause”
means
      the occurrence of any of the following events, as determined in the reasonable
      good faith judgment of the Board:

     

    (i)  the
      failure of Executive to perform his duties hereunder or comply with reasonable
      directions of the Board which continues for ten (10) days after the Board has
      given written notice to Executive, specifying in reasonable detail the manner
      in
      which Executive has failed to perform such duties or comply with such
      directions;

     

    (ii)  the
      determination by the Board in the exercise of its reasonable judgment that
      Executive has committed an act or acts constituting (a) a felony,
      (b) dishonesty or disloyalty with respect to the Company or
      (c) fraud;

     

    (iii)  the
      determination by the Board in the exercise of its reasonable judgment that
      Executive has committed an act, or has failed to take action, which act or
      failure to take action (a) adversely affects the Company’s business or
      reputation or (b) indicates alcohol abuse or drug use by Executive that
      adversely affects his performance of the essential job functions
      hereunder;

     

    (iv)  the
      breach, non-performance or non-observance of any of the terms of this Agreement
      (other than as described in clause (i) above) or any other agreement to
      which Executive and the Company are parties, by Executive, if such breach,
      non-performance or non-observance shall continue beyond a period of ten (10)
      business days immediately after written notice thereof by the Company to
      Executive; or

     

    (v)  notwithstanding
      clause (iv) above, any breach of the Restrictive Covenants.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    (c)  Executive
      may terminate and resign from his Employment hereunder upon not less than sixty
      (60) days prior written notice to the Company.

     

    Executive
      shall be deemed to have a “Permanent
      Disability”
for
      purposes of this Agreement if he suffers a physical or mental illness, injury
      or
      infirmity that prevents him from performing, with or without reasonable
      accommodations, his essential job functions under this Agreement, for a total
      period of 120 days in any 360-day period. The Board shall determine, according
      to the facts then available, whether and when the Permanent Disability of
      Executive has occurred. Such determination shall not be arbitrary or
      unreasonable, and the Board may, but shall not be required to, take into
      consideration the opinion of Executive’s personal physician, if reasonably
      available, and such determination by the Board shall be final and binding on
      the
      parties hereto.

     

    2.  Compensation
      and Benefits.

     

    2.1  Base
      Salary.
      As
      consideration for the services of Executive hereunder, the Company shall pay
      Executive an annual base salary of $120,000 (the “Base
      Salary”),
      payable in accordance with the Company’s customary payroll practices as in
      effect from time to time. Notwithstanding the foregoing, during the period
      beginning on and including January 1, 2005 and for each year during the
      Term thereafter, the Board, in its sole discretion, may elect to cause the
      Company to adjust the Executive’s Base Salary by an amount to be determined by
      the Board in its sole judgment based upon Executive’s and the Company’s
      performance and the achievement of the other goals and objectives approved
      by
      the Board for such year.

     

    2.2  Discretionary
      Bonus.
      Following the end of each fiscal year the Board, in its sole discretion, may
      elect to cause the Company to award to Executive a bonus (the “Discretionary
      Bonus”)
      for
      such year, in an amount to be determined by the Board in its sole judgment
      based
      upon Executive’s and the Company’s performance and the achievement of the other
      goals and objectives approved by the Board for such year. Such Discretionary
      Bonus shall be payable as determined by the Board and only if Executive is
      employed by the Company as of the date such Discretionary Bonus is
      paid.

     

    2.3  Compensation
      After Termination.

     

    (a)  If
      Executive is terminated by the Company for Cause or resigns, then the Company
      shall have no further obligations hereunder or otherwise with respect to
      Executive’s employment hereunder from and after the date of said termination
      (except payment of the Base Salary and other amounts owed to Executive for
      reimbursable business expenses accrued through the date of said termination),
      and the Company shall continue to have all other rights available hereunder
      (including, without limitation, all rights under the Restrictive Covenants
      at
      law or in equity).

     

    (b)  If
      Executive is terminated by the Company without Cause, Executive shall be
      entitled to receive as severance pay an amount equal to the Base Salary that
      would otherwise have been payable if Executive continued his employment
      hereunder, for a 6 month period, payable in accordance with the Company’s
      payroll policies, reduced by the amount of compensation earned by Executive
      at
      other employment. The Company shall have no other obligations hereunder or
      otherwise with respect to Executive’s employment from and after the termination
      date, and the Company shall continue to have all other rights available
      hereunder (including, without limitation, all rights under the Restrictive
      Covenants at law or in equity).

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    (c)  If
      Executive is terminated due to Permanent Disability or death, Executive or
      Executive’s estate, as the case may be, shall be entitled to receive as
      severance pay an amount equal to the Base Salary that would otherwise have
      been
      payable if Executive continued his employment hereunder for the period that
      otherwise would be remaining in the Term (without any further adjustment as
      described in Section 2.1), payable in accordance with the Company’s payroll
      policies. Notwithstanding the foregoing, in the event Executive is Permanently
      Disabled or dies as a result of, or in the conduct of, his employment activities
      hereunder, then Executive or Executive’s estate, as the case may be, shall be
      entitled to receive severance pay in an amount equal to the Base Salary that
      would otherwise have been payable if Executive continued his employment
      hereunder (without any further adjustment as described in Section 2.1)
      for a
      period of not less than eighteen (18) months, payable in accordance with the
      Company’s payroll policies. The Company shall have no other obligations
      hereunder or otherwise with respect to Executive’s employment from and after the
      termination date, and the Company shall continue to have all other rights
      available hereunder (including, without limitation, all rights under the
      Restrictive Covenants at law or in equity).

     

    2.4  Profit
      Sharing, Pension and Salary Deferral Benefits.
      It is
      understood by the parties to this Agreement that, during the Term, Executive
      shall be entitled to participate in or accrue benefits under any pension, salary
      deferral or profit sharing plan now existing or hereafter created for employees
      of the Company upon terms and conditions equivalent to those which the Company
      may provide for other key management employees.

     

    2.5  Fringe
      Benefits and Expenses During the Term.

     

    (a)  Executive
      shall be eligible to participate in any benefit plans maintained by the Company
      for its key management employees from time to time, including, without
      limitation, group life, disability and medical insurance in accordance with
      such
      plans as from time to time in effect and applicable to key management employees
      of the Company.

     

    (b)  Executive
      shall be entitled to three weeks paid vacation per year for the first year,
      and
      four weeks paid vacation per year thereafter, earned pro rata during his
      employment, to be taken at such times as may be approved by the Board or its
      authorized designees. The maximum vacation pay that may accrue is four weeks
      (“Vacation
      Cap”).
      When
      Executive accrues four weeks of vacation, no further vacation will accrue until
      he uses vacation time and reduces the accrued vacation time below the vacation
      cap. He will then accrue vacation time until the vacation cap of four weeks
      is
      reached.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    (c)  The
      Company shall provide Executive sick days on substantially the same terms as
      offered to other key management employees.

     

    (d)  The
      Company shall reimburse Executive for all ordinary, necessary and reasonable
      travel and other business expenses incurred by him in connection with the
      performance of his duties hereunder, in accordance with the Company’s policy.
      Such reimbursement shall be made upon presentation of itemized expense
      statements and such other supporting documentation as the Company may reasonably
      require.

     

    2.6  Taxes,
      Etc.
      All
      compensation payable to Executive hereunder is stated in gross amount and shall
      be subject to all applicable withholding taxes, other normal payroll and any
      other amounts required by law to be withheld.

     

    3.  Confidentiality.
      

     

    3.1  Company
      Information.
      Executive agrees at all times during the term of my employment and thereafter,
      to hold in strictest confidence, and not to use, except for the benefit of
      the
      Company, or to disclose to any person, firm or corporation without written
      authorization of the Board of Directors of the Company, any Confidential
      Information of the Company, except under a non-disclosure agreement duly
      authorized and executed by the Company. Executive understands that “Confidential
      Information”
means
      any non-public information that relates to the actual or anticipated business
      or
      research and development of the Company, technical data, trade secrets or
      know-how, including, but not limited to, research, product plans or other
      information regarding Company’s products or services and markets therefor,
      customer lists and customers software, developments, inventions, processes,
      formulas, technology, designs, drawings, engineering, hardware configuration
      information, marketing, finances or other business information. Executive
      further understands that Confidential Information does not include any of the
      foregoing items which have become publicly known and made generally available
      through no wrongful act of mine or of others who were under confidentiality
      obligations as to the item or items involved or improvements or new versions
      thereof.

     

    3.2  Former
      Employer Information.
      Executive agrees that he will not, during my employment with the Company,
      improperly use or disclose any proprietary information or trade secrets of
      any
      former or concurrent employer or other person or entity and that Executive
      will
      not bring onto the premises of the Company any unpublished document or
      proprietary information belonging to any such employer, person or entity unless
      consented to in writing by such employer, person or entity.

     

    3.3  Third
      Party Information.
      Executive recognizes that the Company has received and in the future will
      receive from third parties their confidential or proprietary information subject
      to a duty on the Company’s part to maintain the confidentiality of such
      information and to use it only for certain limited purposes. Executive agrees
      to
      hold all such confidential or proprietary information in the strictest
      confidence and not to disclose it to any person, firm or corporation or to
      use
      it except as necessary in carrying out my work for the Company consistent with
      the Company’s agreement with such third party.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    4.  Inventions.
      

     

    4.1  Inventions
      Retained and Licensed.
      Executive has attached hereto, as Exhibit A,
      a list
      describing all inventions, original works of authorship, developments,
      improvements, and trade secrets which were made prior to his employment with
      the
      Company (collectively referred to as “Prior
      Inventions”),
      which
      belong to Executive, which relate to the Company’s proposed business, products
      or research and development, and which are not assigned to the Company
      hereunder; or, if no such list is attached, Executive represents that there
      are
      no such Prior Inventions. If in the course of Executive’s employment with the
      Company, Executive incorporates into a Company product, process or service
      a
      Prior Invention owned by Executive or in which Executive has an interest,
      Executive hereby grants to the Company a nonexclusive, royalty-free, fully
      paid-up, irrevocable, perpetual, worldwide license to make, have made, modified
      use and sell such Prior Invention as part of or in connection with such product,
      process or service, and to practice any method related thereto.

     

    4.2  Assignment
      of Inventions.
      Executive agrees that he will promptly make full written disclosure to the
      Company, will hold in trust for the sole right and benefit of the Company,
      and
      hereby assign to the Company, or its designee, all my right, title, and interest
      in and to any and all inventions, original works of authorship, developments,
      concepts, improvements, designs, discoveries, ideas, trademarks or trade
      secrets, whether or not patentable or registrable under copyright or similar
      laws, which Executive may solely or jointly conceive or develop or reduce to
      practice, or cause to be conceived or developed or reduced to practice, during
      the period of time Executive am in the employ of the Company (collectively
      referred to as “Inventions”).
      Executive further acknowledges that all original works of authorship which
      are
      made by me (solely or jointly with others) within the scope of and during the
      period of my employment with the Company and which are protectible by copyright
      are “works made for hire,” as that term is defined in the United States
      Copyright Act. Executive understands and agrees that the decision whether or
      not
      to commercialize or market any invention developed by me solely or jointly
      with
      others is within the Company’s sole discretion and for the Company’s sole
      benefit and that no royalty will be due to him as a result of the Company’s
      efforts to commercialize or market any such invention.

     

    4.3  Inventions
      Assigned to the United States.
      Executive agrees to assign to the United States government all my right, title,
      and interest in and to any and all Inventions whenever such full title is
      required to be in the United States by a contract between the Company and the
      United States or any of its agencies.

     

    4.4  Maintenance
      of Records.
      Executive agrees to keep and maintain adequate and current written records
      of
      all Inventions made by me (solely or jointly with others) during the term of
      my
      employment with the Company. The records will be in the form of notes, sketches,
      drawings, and any other format that may be specified by the Company. The records
      will be available to and remain the sole property of the Company at all
      times.

     

    4.5  Patent
      and Copy Registrations.
      Executive agrees to assist the Company, or its designee, at the Company’s
      expense, in every proper way to secure the Company’s rights in the Inventions
      and any copyrights, patents, mask work rights or other intellectual property
      rights relating thereto in any and all countries, including the disclosure
      to
      the Company of all pertinent information and data with respect thereto, the
      execution of all applications, specifications, oaths, assignments and all other
      instruments which the Company shall deem necessary in order to apply for and
      obtain such rights and in order to assign and convey to the Company, its
      successors, assigns, and nominees the sole and exclusive rights, title and
      interest in and to such Inventions, and any copyrights, patents, mask work
      rights or other intellectual property rights relating thereto. Executive further
      agree that my obligation to execute or cause to be executed, when it is in
      my
      power to do so, any such instrument or papers shall continue after the
      termination of this Agreement. If the Company is unable because of my mental
      or
      physical incapacity or for any other reason to secure my signature to apply
      for
      or to pursue any application for any United States or foreign patents or
      copyright registrations covering Inventions or original works of authorship
      assigned to the Company as above, then Executive hereby irrevocably designates
      and appoints the Company and its duly authorized officers and agents as his
      agent and attorney in fact, to act for and in his behalf and stead to execute
      and file any such applications and to do all other lawfully permitted acts
      to
      further the prosecution and issuance of letters patent or copyright
      registrations thereon with the same legal force and effect as if executed by
      him.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    5.  Conflicting
      Employment.
      Executive agrees that, during the term of his employment with the Company,
      Executive will not engage in any other employment, occupation or consulting
      directly related to the business in which the Company is now involved or becomes
      involved during the term of my employment, nor will Executive engage in any
      other activities that conflict with my obligations to the Company, unless
      written consent is given by the Board of Directors of the Company.

     

    6.  Returning
      Company Documents.
      Executive agrees that, at the time of leaving the employ of the Company, he
      will
      deliver to the Company (and will not keep in his possession, recreate or deliver
      to anyone else) any and all devices, records, data, notes, reports, proposals,
      lists, correspondence, specifications, drawings blueprints, sketches, materials,
      equipment, other documents or property, or reproductions of any aforementioned
      items developed by Executive pursuant to his employment with the Company or
      otherwise belonging to the Company, its successors or assigns, including,
      without limitation, those records maintained pursuant to paragraph 4.4. In
      the event of the termination of Executive’s employment, Executive agrees to sign
      and deliver the “Termination Certification” attached hereto as Exhibit B.

     

    7.  Notification
      of New Employer.
      In the
      event that Executive leaves the employ of the Company, Executive hereby grant
      consent to notification by the Company to my new employer about my rights and
      obligations under this Agreement.

     

    8.  Solicitation
      of Employees.
      Executive agrees that for a period of twelve (12) months immediately following
      the termination of my relationship with the Company for any reason, whether
      with
      or without cause, Executive shall not either directly or indirectly solicit,
      induce, recruit or encourage any of the Company’s employees to leave their
      employment, or take away such employees, or attempt to solicit, induce, recruit,
      encourage or take away employees of the Company, either for myself or for any
      other person or entity.

     

    9.  Non-Competition.
      Executive agrees that during the period of employment and for a period of two
      (2) years immediately following the termination of his relationship with the
      Company for any reason, whether with or without cause, Executive shall not
      directly or indirectly own, manage, operate, consult or to be employed in a
      business substantially similar to (as
      defined by the Company’s therapeutic area and core
      technology),
      or
      competitive with, the present business of the Company and its successors and
      assigns or such other business activity in which the Company and its successors
      and assigns may substantially engage during the term of employment.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    10.  Conflict
      of Interest Guidelines.
      Executive agrees to diligently adhere to the Conflict of Interest Guidelines
      attached as Exhibit D
      hereto.

     

    11.  Representations.
      Executive agrees to execute any proper oath or verify any proper document
      required to carry out the terms of this Agreement. Executive represent that
      his
      performance of all the terms of this Agreement will not breach any agreement
      to
      keep in confidence proprietary information acquired by Executive in confidence
      or in trust prior to Executive’s employment by the Company. Executive hereby
      represent and warrant that Executive have not entered into, and Executive will
      not enter into, any oral or written agreement in conflict herewith.

     

    12.  Policy
      Manual.
      Executive agrees that he is responsible for knowing the contents of the
      Company’s Policy Manual, the contents of which may be modified or eliminated at
      any time.

     

    13.  Arbitration
      and Equitable Relief.
      

     

    13.1  Arbitration.
      IN
      CONSIDERATION OF EXECUTIVE EMPLOYMENT WITH THE COMPANY, ITS PROMISE TO ARBITRATE
      ALL EMPLOYMENT-RELATED DISPUTES AND EXECUTIVE RECEIPT OF THE COMPENSATION,
      PAY
      RAISES AND OTHER BENEFITS PAID TO EXECUTIVE BY THE COMPANY, AT PRESENT AND
      IN
      THE FUTURE, EXECUTIVE AGREES THAT ANY AND ALL CONTROVERSIES, CLAIMS, OR DISPUTES
      WITH ANYONE (INCLUDING THE COMPANY AND ANY EMPLOYEE, OFFICER, DIRECTOR,
      SHAREHOLDER OR BENEFIT PLAN OF THE COMPANY TO THEIR CAPACITY AS SUCH OR
      OTHERWISE) ARISING OUT OF, RELATING TO, OR RESULTING FROM EXECUTIVE EMPLOYMENT
      WITH THE COMPANY OR THE TERMINATION OF EXECUTIVE EMPLOYMENT WITH THE COMPANY,
      INCLUDING ANY BREACH OF THIS AGREEMENT, SHALL BE SUBJECT TO BINDING ARBITRATION
      UNDER THE RULES AMERICAN ARBITRATION ASSOCIATION. DISPUTES WHICH EXECUTIVE
      AGREE
      TO ARBITRATE, AND THEREBY AGREE TO WAIVE ANY RIGHT TO A TRIAL BY JURY, INCLUDE
      ANY STATUTORY CLAIMS UNDER STATE OR FEDERAL LAW, INCLUDING, BUT NOT LIMITED
      TO,
      CLAIMS UNDER TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, THE AMERICANS WITH
      DISABILITIES ACT OF 1990, THE AGE DISCRIMINATION IN EMPLOYMENT ACT OF 1967
      OR
      THE OLDER WORKERS BENEFIT PROTECTION ACT. EXECUTIVE FURTHER UNDERSTANDS THAT
      THIS AGREEMENT TO ARBITRATE ALSO APPLIES TO ANY DISPUTES THAT THE COMPANY MAY
      HAVE WITH EXECUTIVE.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    13.2  Procedure.
      EXECUTIVE AGREES THAT ANY ARBITRATION WILL BE ADMINISTERED BY THE AMERICAN
      ARBITRATION ASSOCIATION (“AAA”)
      AND
      THAT THE NEUTRAL ARBITRATOR WILL BE SELECTED IN A MANNER CONSISTENT WITH ITS
      NATIONAL RULES FOR THE RESOLUTION OF EMPLOYMENT DISPUTES. EXECUTIVE AGREE THAT
      THE ARBITRATOR SHALL HAVE THE POWER TO DECIDE ANY MOTIONS BROUGHT BY ANY PARTY
      TO THE ARBITRATION, INCLUDING MOTIONS FOR SUMMARY JUDGMENT AND/OR ADJUDICATION
      AND MOTIONS TO DISMISS AND DEMURRERS, PRIOR TO ANY ARBITRATION HEARING.
      EXECUTIVE ALSO AGREES THAT THE ARBITRATOR SHALL HAVE THE POWER TO AWARD ANY
      REMEDIES, INCLUDING ATTORNEYS’ FEES AND COSTS, AVAILABLE UNDER APPLICABLE LAW.
      EXECUTIVE UNDERSTANDS THE COMPANY WILL PAY FOR ANY ADMINISTRATIVE OR HEARING
      FEES CHARGED BY THE ARBITRATOR OR AAA EXCEPT THAT EXECUTIVE SHALL PAY THE FIRST
      $125.00 OF ANY FILING FEES ASSOCIATED WITH ANY ARBITRATION EXECUTIVE INITIATES.
      EXECUTIVE AGREES THAT THE ARBITRATOR SHALL ADMINISTER AND CONDUCT ANY
      ARBITRATION IN A MANNER CONSISTENT WITH THE RULES AND THAT TO THE EXTENT THAT
      THE AAA’S NATIONAL RULES FOR THE RESOLUTION OF EMPLOYMENT DISPUTES CONFLICT WITH
      THE RULES, THE RULES SHALL TAKE PRECEDENCE. EXECUTIVE AGREES THAT THE DECISION
      OF THE ARBITRATOR SHALL BE IN WRITING. 

     

    13.3  Remedy.
      EXCEPT
      AS PROVIDED BY THE RULES AND THIS AGREEMENT, ARBITRATION SHALL BE THE SOLE,
      EXCLUSIVE AND FINAL REMEDY FOR ANY DISPUTE BETWEEN ME AND THE COMPANY.
      ACCORDINGLY, EXCEPT AS PROVIDED FOR BY THE RULES AND THIS AGREEMENT, NEITHER
      EXECUTIVE NOR THE COMPANY WILL BE PERMITTED TO PURSUE COURT ACTION REGARDING
      CLAIMS THAT ARE SUBJECT TO ARBITRATION. NOTWITHSTANDING, THE ARBITRATOR WILL
      NOT
      HAVE THE AUTHORITY TO DISREGARD OR REFUSE TO ENFORCE ANY LAWFUL COMPANY POLICY,
      AND THE ARBITRATOR SHALL NOT ORDER OR REQUIRE THE COMPANY TO ADOPT A POLICY
      NOT
      OTHERWISE REQUIRED BY LAW WHICH THE COMPANY HAS NOT ADOPTED.

     

    13.4  Availability
      of Injunctive Relief.
      IN
      ADDITION TO THE RIGHT UNDER THE RULES TO PETITION THE COURT FOR PROVISIONAL
      RELIEF, EXECUTIVE AGREES THAT ANY PARTY MAY ALSO PETITION THE COURT FOR
      INJUNCTIVE RELIEF WHERE EITHER PARTY ALLEGES OR CLAIMS A VIOLATION OF THIS
      EMPLOYMENT AGREEMENT BETWEEN EXECUTIVE AND THE COMPANY OR ANY OTHER AGREEMENT
      REGARDING TRADE SECRETS, CONFIDENTIAL INFORMATION OR NONSOLICITATION. EXECUTIVE
      UNDERSTANDS THAT ANY BREACH OR THREATENED BREACH OF SUCH AN AGREEMENT WILL
      CAUSE
      IRREPARABLE INJURY AND THAT MONEY DAMAGES WILL NOT PROVIDE AN ADEQUATE REMEDY
      THEREFOR AND BOTH PARTIES HEREBY CONSENT TO THE ISSUANCE OF AN INJUNCTION.
      IN
      THE EVENT EITHER PARTY SEEKS INJUNCTIVE RELIEF, THE PREVAILING PARTY SHALL
      BE
      ENTITLED TO RECOVER REASONABLE COSTS AND ATTORNEYS FEES.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    13.5  Administrative
      Relief.
      EXECUTIVE UNDERSTANDS THAT THIS AGREEMENT DOES NOT PROHIBIT HIM FROM PURSUING
      AN
      ADMINISTRATIVE CLAIM WITH A LOCAL, STATE OR FEDERAL ADMINISTRATIVE BODY SUCH
      AS
      THE DEPARTMENT OF FAIR EMPLOYMENT AND HOUSING, THE EQUAL EMPLOYMENT OPPORTUNITY
      COMMISSION OR THE WORKERS’ COMPENSATION BOARD. THIS AGREEMENT DOES, HOWEVER,
      PRECLUDE EXECUTIVE FROM PURSUING COURT ACTION REGARDING ANY SUCH
      CLAIM.

     

    13.6  Voluntary
      Nature of Agreement.
      EXECUTIVE ACKNOWLEDGES AND AGREES THAT HE IS EXECUTING THIS AGREEMENT
      VOLUNTARILY AND WITHOUT ANY DURESS OR UNDUE INFLUENCE BY THE COMPANY OR ANYONE
      ELSE. EXECUTIVE FURTHER ACKNOWLEDGES AND AGREES THAT HE HAS CAREFULLY READ
      THIS
      AGREEMENT AND THAT HE HAS ASKED ANY QUESTIONS NEEDED FOR HIM TO UNDERSTAND
      THE
      TERMS, CONSEQUENCES AND BINDING EFFECT OF THIS AGREEMENT AND FULLY UNDERSTAND
      IT, INCLUDING THAT EXECUTIVE IS
      WAIVING HIS RIGHT TO A JURY TRIAL.
      FINALLY, EXECUTIVE AGREES THAT HE HAS BEEN PROVIDED AN OPPORTUNITY TO SEEK
      THE
      ADVICE OF AN ATTORNEY OF HIS CHOICE BEFORE SIGNING THIS AGREEMENT.

     

    14.  Miscellaneous.
      

     

    14.1  Income
      Tax Treatment.
      Executive and the Company acknowledge that it is the intention of the Company
      to
      deduct all amounts paid under Section 2
      hereof
      as ordinary and necessary business expenses for income tax purposes. Executive
      agrees and represents that he will treat all amounts paid hereunder as ordinary
      income (except for expense reimbursement) for income tax purposes.

     

    14.2  Assignment.
      Executive may not assign any of his rights or obligations hereunder without
      the
      written consent of the Company. Except as otherwise expressly provided herein,
      all covenants and agreements contained in this Agreement by or on behalf of
      any
      of the parties hereto shall bind and inure to the benefit of the respective
      successors and assigns of the parties hereto whether so expressed or
      not.

     

    14.3  Severability.
      Whenever possible, each provision of this Agreement shall be interpreted in
      such
      manner as to be effective and valid under applicable law, but if any provision
      of this Agreement is held to be prohibited by or invalid under applicable law,
      such provision shall be ineffective only to the extent of such prohibition
      or
      invalidity, without invalidating the remainder of this Agreement.

     

    14.4  Counterparts.
      This
      Agreement may be executed in multiple counterparts, each of which shall be
      deemed an original, but all of which taken together shall constitute one and
      the
      same Agreement.

     

    14.5  Descriptive
      Headings; Interpretation.
      The
      descriptive headings in this Agreement are inserted for convenience of reference
      only and are not intended to be part of or to affect the meaning or
      interpretation of this Agreement. The use of the word “including”
in
      this
      Agreement shall be by way of example rather than by limitation.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    14.6  Notices.
      All
      notices, demands or other communications to be given or delivered under or
      by
      reason of the provisions of this Agreement shall be in writing and shall be
      deemed to have been duly given if (i) delivered personally to the
      recipient, (ii) sent to the recipient by reputable express courier service
      (charges prepaid) or mailed to the recipient by certified or registered mail,
      return receipt requested and postage prepaid, or (iii) transmitted by
      telecopy to the recipient with a confirmation copy to follow the next day to
      be
      delivered by overnight carrier. Such notices, demands and other communications
      shall be sent to the addresses indicated below:

     

     

    
      	 	
              To
                the Company: 

            	
              Cleveland
                BioLabs, Inc.

            
	 	 	10265 Carnegie Avenue
	 	 	Cleveland, OH 44106-2130
	 	 	
              Attention:
                Chief
                Financial Officer

            
	 	 	Facsimile:
              __________________

    

     

    
      	 	
              
                with
                  a copy to:

              

            	
              
                Katten
                  Muchin Zavis Rosenman

              

            
	 	 	525 West Monroe Street
	 	 	Chicago, IL 60661-3693
	 	 	
              
                Attention:
                  Kurt W. Florian, Esq.

              

            
	 	 	Facsimile: (312)
              902-1061

    

     

    
      	 	
              
                
                  To
                    Executive:

                

              

            	
              
                
                  Michael
                    Fonstein

                

              

            
	 	 	15 W 155 81st
              Street
	 	 	Burr Ridge, IL 60521
	 	 	
              
                
                  Facsimile:
                    630-325-5475

                

              

            
	 	 	with a copy to: 

    

     

    
      
        	 	
                
                  
                    with
                      a copy to: 

                  

                

              	
                
                  
                    __________________________

                  

                

              
	 	 	
                __________________________

              
	 	 	
                __________________________

              
	 	 	
                
                  
                    
                      Attention:__________________

                    

                  

                

              
	 	 	
                Facsimile:
                  __________________

              

      

    

     

    or
      to
      such other address or to the attention of such other person as the recipient
      party shall have specified by prior written notice to the sending party. Date
      of
      service of such notice shall be (w) the date such notice is personally
      delivered, (x) three days after the date of mailing if sent by certified or
      registered mail, (y) one day after the date of delivery to the overnight
      courier if sent by overnight courier or (z) the next business day after the
      date of transmittal by telecopy.

     

    14.7  Preamble;
      Preliminary Recitals.
      The
      Preliminary Recitals set forth in the Preamble hereto are hereby incorporated
      and made part of this Agreement.

     

    14.8  Entire
      Agreement.
      Except
      as otherwise expressly set forth herein, this Agreement sets forth the entire
      understanding of the parties, and supersedes and preempts all prior oral or
      written understandings and agreements with respect to the subject matter
      hereof.

     

    14.9  Governing
      Law.
      This
      Agreement shall be construed and enforced in accordance with, and all questions
      concerning the construction, validity, interpretation and performance of this
      Agreement shall be governed by, the laws of the State of Ohio without giving
      effect to provisions thereof regarding conflict of laws.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    14.10  No
      Strict Construction.
      The
      language used in this Agreement will be deemed to be the language chosen by
      the
      parties hereto to express their mutual intent, and no rule of strict
      construction will be applied against any party hereto.

     

    14.11  Amendment
      and Waivers.
      Any
      provisions of the Agreement may be amended or waived only with the prior written
      consent of the Company and Executive.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	 	 	 
	 	
              Michael
                Fonstein

            
	
              Date:
                 01/01/04  

            	
              Signature

            
	 
 	 
 	 
 
	
               

            	By:  	/s/ Michael
              Fonstein
	 	
              

              Name
                of Executive (typed or printed)

            
	 	 

    

    
      	 	 	 
	 	
              CLEVELAND
                BIOLABS, INC.

            
	 
 	 
 	 
 
	 	/s/	Andrei
              Gudkov
	 	By:  	
              
 Andrei
              Gudkov
	 	Its:	Founder & Director
	 	
               

            
	 	 

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    Exhibit
      A

     

    LIST
      OF PRIOR INVENTIONS

    AND
      ORIGINAL WORKS OF AUTHORSHIP

     

    
      	
              Title

            	 	
              Date

            	 	
              Identifying
                Number

              or
                Brief Description

            
	 	 	 	 	 
	 	 	 	 	 

    

     

     

    ____ No
      inventions or improvements

     

    ____ Additional
      Sheets Attached

     

    Signature
      of Executive: ________________________________    

     

    Print
      Name of Executive: _______________________________    

     

    Date: _____________________________________________      

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Exhibit
      B

     

    CLEVELAND
      BIOLABS, INC.

    TERMINATION
      CERTIFICATION

     

    This
      is
      to certify that the undersigned does not have in my possession, nor have I
      failed to return, any devices, records, data, notes, reports, proposals, lists,
      correspondence, specifications, drawings, blueprints, sketches, materials,
      equipment, other documents or property, or reproductions of any aforementioned
      items belonging to Cleveland BioLabs, Inc., its subsidiaries, affiliates,
      successors or assigns (together, the “Company”).

     

    I
      further
      certify that I have complied with all the terms of the Company’s Employment
      Agreement signed by me, including the reporting of any inventions and original
      works of authorship (as defined therein), conceived or made by me (solely or
      jointly with others) covered by that agreement.

     

    I
      further
      agree that, in compliance with the Employment Agreement, I will preserve as
      confidential all trade secrets, confidential knowledge, data or other
      proprietary information relating to products, processes, know-how, designs,
      formulas, developmental or experimental work, computer programs, data bases,
      other original works of authorship, customer lists, business plans, financial
      information or other subject matter pertaining to any business of the Company
      or
      any of its employees, clients, consultants or licensees.

     

    I
      further
      agree that for twelve (12) months from this date, I will not solicit, induce,
      recruit or encourage any of the Company’s employees to leave their
      employment.

     

    I
      further
      agree that for twelve (12) months from this date I will not directly or
      indirectly own, manage, operate, consult or to be employed in a business
      substantially similar to, or competitive with, the present business of the
      Company and its successors and assigns or such other business activity in which
      the Company and its successors and assigns may substantially engage during
      the
      term of employment.

     

    
      	Date: ___________________	 	 
	 	(Employee’s
              Signature) __________________________
	 	 	 
	 
 	 
 	 
 
	 	  	
              
(Type/Print
              Employee’s Name)
	 	
            
	 	 

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Exhibit
      D

     

    CLEVELAND
      BIOLABS, INC.

    CONFLICT
      OF INTEREST GUIDELINES

     

    It
      is the
      policy of Cleveland BioLabs, Inc. to conduct its affairs in strict compliance
      with the letter and spirit of the law and to adhere to the highest principles
      of
      business ethics. Accordingly, all officers, employees and independent
      contractors must avoid activities which are in conflict, or give the appearance
      of being in conflict, with these principles and with the interests of the
      Company. The following are potentially compromising situations which must be
      avoided. Any exceptions must be reported to the President and written approval
      for continuation must be obtained.

     

    1. Revealing
      confidential information to outsiders or misusing confidential information.
      Unauthorized divulging of information is a violation of this policy whether
      or
      not for personal gain and whether or not harm to the Company is intended. (The
      Employment Agreement elaborates on this principle and is a binding
      agreement.)

     

    2. Accepting
      or offering substantial gifts, excessive entertainment, favors or payments
      which
      may be deemed to constitute undue influence or otherwise be improper or
      embarrassing to the Company.

     

    3. Participating
      in civic or professional organizations that might involve divulging confidential
      information of the Company.

     

    4. Initiating
      or approving personnel actions affecting reward or punishment of employees
      or
      applicants where there is a family relationship or is or appears to be a
      personal or social involvement.

     

    5. Initiating
      or approving any form of personal or social harassment of
      employees.

     

    6.
       Investing
      or holding outside directorship in suppliers, customers, or competing companies,
      including financial speculations, where such investment or directorship might
      influence in any manner a decision or course of action of the
      Company.

     

    7. Borrowing
      from or lending to employees customers or suppliers.

     

    8. Acquiring
      real estate of interest to the Company.

     

    9. Improperly
      using or disclosing to the Company any proprietary information or trade secrets
      of any former or concurrent employer or other person or entity with whom
      obligations of confidentiality exist.

     

    10. Unlawfully
      discussing prices, costs, customers, sales or markets with competing companies
      or their employees.

     

    11. Making
      any unlawful agreement with distributors with respect to prices.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    12. Improperly
      using or authorizing the use of any inventions which are the subject of patent
      claims of any other person or entity.

     

    13. Engaging
      in any conduct which is not in the best interest of the Company.

     

    Each
      officer, employee and independent contractor must take every necessary action
      to
      ensure compliance with these guidelines and to bring problem areas to the
      attention of higher management for review. Violations of this conflict of
      interest policy may result in discharge without warning.CLEVELAND
      BIOLABS, INC.

    EMPLOYMENT
      AGREEMENT

     

    THIS
      EMPLOYMENT AGREEMENT (the “Agreement”),
      made
      as of this 1st
      day of
      August, 2004, is entered into by Cleveland Biolabs, Inc., a Delaware
      corporation with its principal place of business at 10265 Carnegie Ave.,
      Cleveland, OH 44106 (and together with its subsidiaries, affiliates,
      successors or assigns the “Company”),
      and
      Dr. Yakov Kogan, (the “Executive”).

     

    PRELIMINARY
      RECITALS

     

    A. The
      Company, among other things, is engaged in the business of conducting research
      and development of new pharmaceuticals in the field of cancer treatment and
      that
      provide protection for cells against harmful radiation (the “Business”).

     

    B. Executive
      has been employed as the Company’s Executive
      Vice President, Business Development
      and with
      the Company since its inception in June 2003.

     

    C. The
      Company and Executive desire to formally state the terms of said employment
      and
      set forth the terms and conditions of Executive’s continued employment with the
      Company in this Agreement.

     

    NOW,
      THEREFORE,
      in
      consideration of the premises, the mutual covenants of the parties hereinafter
      set forth and other good and valuable consideration, the receipt and sufficiency
      of which are hereby acknowledged, the parties hereto hereby agree as
      follows:

     

    1. Employment.

     

    1.1 Engagement;
      Duties and Powers.
      The
      Company agrees to employ Executive, and Executive agrees to accept employment
      with the Company, as Executive Vice President, Business Development for the
      Term
      and in accordance with the terms and conditions of this Agreement. During the
      Term, Executive shall serve as the Company’s Executive Vice President, Business
      Development and shall have such responsibilities, duties and authorities, and
      shall render such services of an executive and administrative character or
      act
      in such other capacity for the Company and its affiliates, as the board of
      directors of the Company (the “Board”)
      shall
      from time to time lawfully direct. Executive shall perform the duties and carry
      out the responsibilities assigned to him, to the best of his ability, in a
      trustworthy, businesslike and efficient manner for the purpose of advancing
      the
      business of the Company. Executive acknowledges that his duties and
      responsibilities hereunder will require his full business time and effort and
      agrees that, during the Term, he will not engage in any other business activity
      or have any business pursuits or interests which materially interfere or
      conflict with the performance of his duties hereunder, provided, that nothing
      in
      this Section 1.1
      shall be
      deemed to prohibit Executive from making Permitted Investments. Executive may
      accept positions on grant panels, boards of Directors, act as a consultant
      for
      compensation with the permission of the Board.

     

    1.2 Term.
      The
      engagement of Executive under this Agreement shall begin on the date hereof
      and
      shall continue through and until December 31, 2007 (the “Initial
      Period”)
      unless
      extended as provided in this Section 1.2.
      Thereafter, the term of this Agreement shall automatically renew and extend
      for
      additional consecutive one-year periods (“Renewal
      Periods”)
      unless
      one of the parties shall deliver a written notice of termination to the other
      party at least sixty (60) days prior to the expiration of the Initial Period
      or
      any Renewal Period. The Initial Period through the then current Renewal Period,
      if any, is hereinafter referred to as the “Term.”
      Notwithstanding anything to the contrary contained herein, the Term is subject
      to termination pursuant to Section 1.3.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    1.3 Termination.

     

    (a) If
      Executive dies during the Term, this Agreement shall automatically terminate
      on
      the date of Executive’s death.

     

    (b) The
      Company may terminate Executive’s employment hereunder upon written notice to
      Executive at any time (i) due to the Permanent Disability of Executive or
      (ii) for Cause or without Cause, for any or no reason. Such termination
      shall be effective upon the date of service of such notice pursuant to
Section 14.6.

     

    For
      purposes of this Agreement, “Cause”
means
      the occurrence of any of the following events, as determined in the reasonable
      good faith judgment of the Board:

     

    (i) the
      failure of Executive to perform his duties hereunder or comply with reasonable
      directions of the Board which continues for ten (10) days after the Board has
      given written notice to Executive, specifying in reasonable detail the manner
      in
      which Executive has failed to perform such duties or comply with such
      directions;

     

    (ii) the
      determination by the Board in the exercise of its reasonable judgment that
      Executive has committed an act or acts constituting (a) a felony,
      (b) dishonesty or disloyalty with respect to the Company or
      (c) fraud;

     

    (iii) the
      determination by the Board in the exercise of its reasonable judgment that
      Executive has committed an act, or has failed to take action, which act or
      failure to take action (a) adversely affects the Company’s business or
      reputation or (b) indicates alcohol abuse or drug use by Executive that
      adversely affects his performance of the essential job functions
      hereunder;

     

    (iv) the
      breach, non-performance or non-observance of any of the terms of this Agreement
      (other than as described in clause (i) above) or any other agreement to
      which Executive and the Company are parties, by Executive, if such breach,
      non-performance or non-observance shall continue beyond a period of ten (10)
      business days immediately after written notice thereof by the Company to
      Executive; or

     

    (v) notwithstanding
      clause (iv) above, any breach of the Restrictive Covenants.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    (c) Executive
      may terminate and resign from his Employment hereunder upon not less than sixty
      (60) days prior written notice to the Company.

     

    Executive
      shall be deemed to have a “Permanent
      Disability”
for
      purposes of this Agreement if he suffers a physical or mental illness, injury
      or
      infirmity that prevents him from performing, with or without reasonable
      accommodations, his essential job functions under this Agreement, for a total
      period of 120 days in any 360-day period. The Board shall determine, according
      to the facts then available, whether and when the Permanent Disability of
      Executive has occurred. Such determination shall not be arbitrary or
      unreasonable, and the Board may, but shall not be required to, take into
      consideration the opinion of Executive’s personal physician, if reasonably
      available, and such determination by the Board shall be final and binding on
      the
      parties hereto.

     

    2. Compensation
      and Benefits.
      

     

    2.1 Base
      Salary.
      As
      consideration for the services of Executive hereunder, the Company shall pay
      Executive an annual base salary of $120,000 (the “Base
      Salary”),
      payable in accordance with the Company’s customary payroll practices as in
      effect from time to time. Notwithstanding the foregoing, during the period
      beginning on and including January 1, 2005 and for each year during the
      Term thereafter, the Board, in its sole discretion, may elect to cause the
      Company to adjust the Executive’s Base Salary by an amount to be determined by
      the Board in its sole judgment based upon Executive’s and the Company’s
      performance and the achievement of the other goals and objectives approved
      by
      the Board for such year.

     

    2.2 Discretionary
      Bonus.
      Following the end of each fiscal year the Board, in its sole discretion, may
      elect to cause the Company to award to Executive a bonus (the “Discretionary
      Bonus”)
      for
      such year, in an amount to be determined by the Board in its sole judgment
      based
      upon Executive’s and the Company’s performance and the achievement of the other
      goals and objectives approved by the Board for such year. Such Discretionary
      Bonus shall be payable as determined by the Board and only if Executive is
      employed by the Company as of the date such Discretionary Bonus is
      paid.

     

    2.3 Compensation
      After Termination.

     

    (a) If
      Executive is terminated by the Company for Cause or resigns, then the Company
      shall have no further obligations hereunder or otherwise with respect to
      Executive’s employment hereunder from and after the date of said termination
      (except payment of the Base Salary and other amounts owed to Executive for
      reimbursable business expenses accrued through the date of said termination),
      and the Company shall continue to have all other rights available hereunder
      (including, without limitation, all rights under the Restrictive Covenants
      at
      law or in equity).

     

    (b) If
      Executive is terminated by the Company without Cause, Executive shall be
      entitled to receive as severance pay an amount equal to the Base Salary that
      would otherwise have been payable if Executive continued his employment
      hereunder, for a 6-month period, payable in accordance with the Company’s
      payroll policies, reduced by the amount of compensation earned by Executive
      at
      other employment. The Company shall have no other obligations hereunder or
      otherwise with respect to Executive’s employment from and after the termination
      date, and the Company shall continue to have all other rights available
      hereunder (including, without limitation, all rights under the Restrictive
      Covenants at law or in equity).

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    (c) If
      Executive is terminated due to Permanent Disability or death, Executive or
      Executive’s estate, as the case may be, shall be entitled to receive as
      severance pay an amount equal to the Base Salary that would otherwise have
      been
      payable if Executive continued his employment hereunder for the period that
      otherwise would be remaining in the Term (without any further adjustment as
      described in Section 2.1),
      payable in accordance with the Company’s payroll policies. Notwithstanding the
      foregoing, in the event Executive is Permanently Disabled or dies as a result
      of, or in the conduct of, his employment activities hereunder, then Executive
      or
      Executive’s estate, as the case may be, shall be entitled to receive severance
      pay in an amount equal to the Base Salary that would otherwise have been payable
      if Executive continued his employment hereunder (without any further adjustment
      as described in Section 2.1)
      for a
      period of not less than eighteen (18) months, payable in accordance with the
      Company’s payroll policies. The Company shall have no other obligations
      hereunder or otherwise with respect to Executive’s employment from and after the
      termination date, and the Company shall continue to have all other rights
      available hereunder (including, without limitation, all rights under the
      Restrictive Covenants at law or in equity).

     

    2.4 Profit
      Sharing; Pension and Salary Deferral Benefits.
      It is
      understood by the parties to this Agreement that, during the Term, Executive
      shall be entitled to participate in or accrue benefits under any pension, salary
      deferral or profit sharing plan now existing or hereafter created for employees
      of the Company upon terms and conditions equivalent to those which the Company
      may provide for other key management employees.

     

    2.5 Fringe
      Benefits and Expenses During the Term.

     

    (a) Executive
      shall be eligible to participate in any benefit plans maintained by the Company
      for its key management employees from time to time, including, without
      limitation, group life, disability and medical insurance in accordance with
      such
      plans as from time to time in effect and applicable to key management employees
      of the Company.

     

    (b) Executive
      shall be entitled to three weeks paid vacation per year for the first year,
      and
      four weeks paid vacation per year thereafter, earned pro rata during his
      employment, to be taken at such times as may be approved by the Board or its
      authorized designees. The maximum vacation pay that may accrue is four weeks
      (“Vacation
      Cap”).
      When
      Executive accrues four weeks of vacation no further vacation will accrue until
      he uses vacation time and reduces the accrued vacation time below the vacation
      cap. He will then accrue vacation time until the vacation cap of four weeks
      is
      reached.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    (c) The
      Company shall provide Executive sick days on substantially the same terms as
      offered to other key management employees.

     

    (d) The
      Company shall reimburse Executive for all ordinary, necessary and reasonable
      travel and other business expenses incurred by him in connection with the
      performance of his duties hereunder, in accordance with the Company’s policy.
      Such reimbursement shall be made upon presentation of itemized expense
      statements and such other supporting documentation as the Company may reasonably
      require.

     

    2.6 Taxes,
      etc.
      All
      compensation payable to Executive hereunder is stated in gross amount and shall
      be subject to all applicable withholding taxes, other normal payroll and any
      other amounts required by law to be withheld.

     

    3. Confidentiality.
      

     

    3.1 Company
      Information.
      Executive agrees at all times during the term of my employment and thereafter,
      to hold in strictest confidence, and not to use, except for the benefit of
      the
      Company, or to disclose to any person, firm or corporation without written
      authorization of the Board of Directors of the Company, any Confidential
      Information of the Company, except under a non-disclosure agreement duly
      authorized and executed by the Company. Executive understands that “Confidential
      Information”
means
      any non-public information that relates to the actual or anticipated business
      or
      research and development of the Company, technical data, trade secrets or
      know-how, including, but not limited to, research, product plans or other
      information regarding Company’s products or services and markets therefor,
      customer lists and customers software, developments, inventions, processes,
      formulas, technology, designs, drawings, engineering, hardware configuration
      information, marketing, finances or other business information. Executive
      further understands that Confidential Information does not include any of the
      foregoing items which have become publicly known and made generally available
      through no wrongful act of mine or of others who were under confidentiality
      obligations as to the item or items involved or improvements or new versions
      thereof.

     

    3.2 Former
      Employer Information.
      Executive agrees that he will not, during my employment with the Company,
      improperly use or disclose any proprietary information or trade secrets of
      any
      former or concurrent employer or other person or entity and that Executive
      will
      not bring onto the premises of the Company any unpublished document or
      proprietary information belonging to any such employer, person or entity unless
      consented to in writing by such employer, person or entity.

     

    3.3 Third
      Party.
      Executive recognizes that the Company has received and in the future will
      receive from third parties their confidential or proprietary information subject
      to a duty on the Company’s part to maintain the confidentiality of such
      information and to use it only for certain limited purposes. Executive agrees
      to
      hold all such confidential or proprietary information in the strictest
      confidence and not to disclose it to any person, firm or corporation or to
      use
      it except as necessary in carrying out my work for the Company consistent with
      the Company’s agreement with such third party.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    4. Inventions.

     

    4.1 Inventions
      Retained and Licensed.
      Executive has attached hereto, as Exhibit A,
      a list
      describing all inventions, original works of authorship, developments,
      improvements, and trade secrets which were made prior to his employment with
      the
      Company (collectively referred to as “Prior
      Inventions”),
      which
      belong to Executive, which relate to the Company’s proposed business, products
      or research and development, and which are not assigned to the Company
      hereunder; or, if no such list is attached, Executive represents that there
      are
      no such Prior Inventions. If in the course of Executive’s employment with the
      Company, Executive incorporates into a Company product, process or service
      a
      Prior Invention owned by Executive or in which Executive has an interest,
      Executive hereby grants to the Company a nonexclusive, royalty-free, fully
      paid-up, irrevocable, perpetual, worldwide license to make, have made, modify,
      use and sell such Prior Invention as part of or in connection with such product,
      process or service, and to practice any method related thereto.

     

    4.2 Assignment
      of Invention.
      Executive agrees that he will promptly make full written disclosure to the
      Company, will hold in trust for the sole right and benefit of the Company,
      and
      hereby assign to the Company, or its designee, all my right, title, and interest
      in and to any and all inventions, original works of authorship, developments,
      concepts, improvements, designs, discoveries, ideas, trademarks or trade
      secrets, whether or not patentable or registrable under copyright or similar
      laws, which Executive may solely or jointly conceive or develop or reduce to
      practice, or cause to be conceived or developed or reduced to practice, during
      the period of time Executive am in the employ of the Company (collectively
      referred to as “Inventions”).
      Executive further acknowledges that all original works of authorship which
      are
      made by me (solely or jointly with others) within the scope of and during the
      period of my employment with the Company and which are protectible by copyright
      are “works made for hire,” as that term is defined in the United States
      Copyright Act. Executive understands and agrees that the decision whether or
      not
      to commercialize or market any invention developed by me solely or jointly
      with
      others is within the Company’s sole discretion and for the Company’s sole
      benefit and that no royalty will be due to him as a result of the Company’s
      efforts to commercialize or market any such invention.

     

    4.3 Inventions
      Assigned to the United States.
      Executive agrees to assign to the United States government all my right, title,
      and interest in and to any and all Inventions whenever such full title is
      required to be in the United States by a contract between the Company and the
      United States or any of its agencies.

     

    4.4 Maintenance
      of Records.
      Executive agrees to keep and maintain adequate and current written records
      of
      all Inventions made by me (solely or jointly with others) during the term of
      my
      employment with the Company. The records will be in the form of notes, sketches,
      drawings, and any other format that may be specified by the Company. The records
      will be available to and remain the sole property of the Company at all
      times.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    4.5 Patent
      and Copyright Registrations.
      Executive agrees to assist the Company, or its designee, at the Company’s
      expense, in every proper way to secure the Company’s rights in the inventions
      and any copyrights, patents, mask work rights or other intellectual property
      rights relating thereto in any and all countries, including the disclosure
      to
      the Company of all pertinent information and data with respect thereto, the
      execution of all applications, specifications, oaths, assignments and all other
      instruments which the Company shall deem necessary in order to apply for and
      obtain such rights and in order to assign and convey to the Company, its
      successors, assigns, and nominees the sole and exclusive rights, title and
      interest in and to such Inventions, and any copyrights, patents, mask work
      rights or other intellectual property rights relating thereto. Executive further
      agree that my obligation to execute or cause to be executed, when it is in
      my
      power to do so, any such instrument or papers shall continue after the
      termination of this Agreement. If the Company is unable because of my mental
      or
      physical incapacity or for any other reason to secure my signature to apply
      for
      or to pursue any application for any United States or foreign patents or
      copyright registrations covering Inventions or original works of authorship
      assigned to the Company as above, then Executive hereby irrevocably designates
      and appoints the Company and its duly authorized officers and agents as his
      agent and attorney in fact, to act for and in his behalf and stead to execute
      and file any such applications and to do all other lawfully permitted acts
      to
      further the prosecution and issuance of letters patent or copyright
      registrations thereon with the same legal force and effect as if executed by
      him.

     

    5. Conflicting
      Employment.
      Executive agrees that, during the term of his employment with the Company,
      Executive will not engage in any other employment, occupation or consulting
      directly related to the business in which the Company is now involved or becomes
      involved during the term of my employment, nor will Executive engage in any
      other activities that conflict with my obligations to the Company, unless
      written consent is given by the Board of Directors of the Company.

     

    6. Returning
      Company Documents.
      Executive agrees that, at the time of leaving the employ of the Company, he
      will
      deliver to the Company (and will not keep in his possession, recreate or deliver
      to anyone else) any and all devices, records, data, notes, reports, proposals,
      lists, correspondence, specifications, drawings blueprints, sketches, materials,
      equipment, other documents or property, or reproductions of any aforementioned
      items developed by Executive pursuant to his employment with the Company or
      otherwise belonging to the Company, its successors or assigns, including,
      without limitation, those records maintained pursuant to paragraph 4.4. In
      the event of the termination of Executive’s employment, Executive agrees to sign
      and deliver the “Termination Certification” attached hereto as Exhibit B.

     

    7. Notification
      of New Employer.
      In the
      event that Executive leaves the employ of the Company, Executive hereby grant
      consent to notification by the Company to my new employer about my rights and
      obligations under this Agreement

     

    8. Solicitation
      of Employees.
      Executive agrees that for a period of twelve (12) months immediately following
      the termination of my relationship with the Company for any reason, whether
      with
      or without cause, Executive shall not either directly or indirectly solicit,
      induce, recruit or encourage any of the Company’s employees to leave their
      employment, or take away such employees, or attempt to solicit, induce, recruit,
      encourage or take away employees of the Company, either for myself or for any
      other person or entity.

     

    9. Non-Competition.
      Executive agrees that during the period of employment and for a period of two
      (2) years immediately following the termination of his relationship with the
      Company for any reason, whether with or without cause, Executive shall not
      directly or indirectly own, manage, operate, consult or to be employed in a
      business substantially similar to (as
      defined by the Company’s therapeutic area and core
      technology),
      or
      competitive with, the present business of the Company and its successors and
      assigns or such other business activity in which the Company and its successors
      and assigns may substantially engage during the term of employment.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    10. Conflict
      of Interest Guidelines.
      Executive agrees to diligently adhere to the Conflict of Interest Guidelines
      attached as Exhibit D
      hereto.

     

    11. Representations.
      Executive agrees to execute any proper oath or verify any proper document
      required to carry out the terms of this Agreement. Executive represents that
      his
      performance of all the terms of this Agreement will not breach any agreement
      to
      keep in confidence proprietary information acquired by Executive in confidence
      or in trust prior to Executive’s employment by the Company. Executive hereby
      represent and warrant that Executive have not entered into, and Executive will
      not enter into, any oral or written agreement in conflict herewith.

     

    12. Policy
      Manual.
      Executive agrees that he is responsible for knowing the contents of the
      Company’s Policy Manual, the contents of which may be modified or eliminated at
      any time.

     

    13. Arbitration
      and Equitable Relief.
      

     

    13.1 Arbitration.
      IN
      CONSIDERATION OF EXECUTIVE EMPLOYMENT WITH THE COMPANY, ITS PROMISE TO ARBITRATE
      ALL EMPLOYMENT-RELATED DISPUTES AND EXECUTIVE RECEIPT OF THE COMPENSATION,
      PAY
      RAISES AND OTHER BENEFITS PAID TO EXECUTIVE BY THE COMPANY, AT PRESENT AND
      IN
      THE FUTURE, EXECUTIVE AGREES THAT ANY AND ALL CONTROVERSIES, CLAIMS, OR DISPUTES
      WITH ANYONE (INCLUDING THE COMPANY AND ANY EMPLOYEE, OFFICER, DIRECTOR,
      SHAREHOLDER OR BENEFIT PLAN OF THE COMPANY IN THEIR CAPACITY AS SUCH OR
      OTHERWISE) ARISING OUT OF, RELATING TO OR RESULTING FROM EXECUTIVE EMPLOYMENT
      WITH THE COMPANY OR THE TERMINATION OF EXECUTIVE EMPLOYMENT WITH THE COMPANY,
      INCLUDING ANY BREACH OF THIS AGREEMENT, SHALL BE SUBJECT TO BINDING ARBITRATION
      UNDER THE RULES AMERICAN ARBITRATION ASSOCIATION. DISPUTES WHICH EXECUTIVE
      AGREES TO ARBITRATE, AND THEREBY AGREES TO WAIVE ANY RIGHT TO A TRIAL BY JURY,
      INCLUDE ANY STATUTORY CLAIMS UNDER STATE OR FEDERAL LAW, INCLUDING, BUT NOT
      LIMITED TO, CLAIMS UNDER TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, THE
      AMERICANS WITH DISABILITIES ACT OF 1990, THE AGE DISCRIMINATION IN EMPLOYMENT
      ACT OF 1967 OR THE OLDER WORKERS BENEFIT PROTECTION ACT. EXECUTIVE FURTHER
      UNDERSTANDS THAT THIS AGREEMENT TO ARBITRATE ALSO APPLIES TO ANY DISPUTES THAT
      THE COMPANY MAY HAVE WITH EXECUTIVE.

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    13.2 Procedure.
      EXECUTIVE AGREES THAT ANY ARBITRATION WILL BE ADMINISTERED BY THE AMERICAN
      ARBITRATION ASSOCIATION (“AAA”)
      AND
      THAT THE NEUTRAL ARBITRATOR WILL BE SELECTED IN A MANNER CONSISTENT WITH ITS
      NATIONAL RULES FOR THE RESOLUTION OF EMPLOYMENT DISPUTES. EXECUTIVE AGREE THAT
      THE ARBITRATOR SHALL HAVE THE POWER TO DECIDE ANY MOTIONS BROUGHT BY ANY PARTY
      TO THE ARBITRATION, INCLUDING MOTIONS FOR SUMMARY JUDGMENT AND/OR ADJUDICATION
      AND MOTIONS TO DISMISS AND DEMURRERS, PRIOR TO ANY ARBITRATION HEARING.
      EXECUTIVE ALSO AGREES THAT THE ARBITRATOR SHALL HAVE THE POWER TO AWARD ANY
      REMEDIES, INCLUDING ATTORNEYS’ FEES AND COSTS, AVAILABLE UNDER APPLICABLE LAW.
      EXECUTIVE UNDERSTANDS THE COMPANY WILL PAY FOR ANY ADMINISTRATIVE OR HEARING
      FEES CHARGED BY THE ARBITRATOR OR AAA EXCEPT THAT EXECUTIVE SHALL PAY THE FIRST
      $125.00 OF ANY FILING FEES ASSOCIATED WITH ANY ARBITRATION EXECUTIVE INITIATES.
      EXECUTIVE AGREES THAT THE ARBITRATOR SHALL ADMINISTER AND CONDUCT ANY
      ARBITRATION IN A MANNER CONSISTENT WITH THE RULES AND THAT TO THE EXTENT THAT
      THE AAA’S NATIONAL RULES FOR THE RESOLUTION OF EMPLOYMENT DISPUTES CONFLICT WITH
      THE RULES THE RULES SHALL TAKE PRECEDENCE. EXECUTIVE AGREES THAT THE DECISION
      OF
      THE ARBITRATOR SHALL BE IN WRITING.

     

    13.3 Remedy.
      EXCEPT
      AS PROVIDED BY THE RULES AND THIS AGREEMENT ARBITRATION SHALL BE THE SOLE,
      EXCLUSIVE AND FINAL REMEDY FOR ANY DISPUTE BETWEEN ME AND THE COMPANY.
      ACCORDINGLY, EXCEPT AS PROVIDED FOR BY THE RULES AND THIS AGREEMENT, NEITHER
      EXECUTIVE NOR THE COMPANY WILL BE PERMITTED TO PURSUE COURT ACTION REGARDING
      CLAIMS THAT ARE SUBJECT TO ARBITRATION. NOTWITHSTANDING, THE ARBITRATOR WILL
      NOT
      HAVE THE AUTHORITY TO DISREGARD OR REFUSE TO ENFORCE ANY LAWFUL COMPANY POLICY,
      AND THE ARBITRATOR SHALL NOT ORDER OR REQUIRE THE COMPANY TO ADOPT A POLICY
      NOT
      OTHERWISE REQUIRED BY LAW WHICH THE COMPANY HAS NOT ADOPTED. 

     

    13.4 Availability
      of Injunctive Relief.
      IN
      ADDITION TO THE RIGHT UNDER THE RULES TO PETITION THE COURT FOR PROVISIONAL
      RELIEF, EXECUTIVE AGREES THAT ANY PARTY MAY ALSO PETITION THE COURT FOR
      INJUNCTIVE RELIEF WHERE EITHER PARTY ALLEGES OR CLAIMS A VIOLATION OF THIS
      EMPLOYMENT AGREEMENT BETWEEN EXECUTIVE AND THE COMPANY OR ANY OTHER AGREEMENT
      REGARDING TRADE SECRETS, CONFIDENTIAL INFORMATION OR NONSOLICITATION. EXECUTIVE
      UNDERSTANDS THAT ANY BREACH OR THREATENED BREACH OF SUCH AN AGREEMENT WILL
      CAUSE
      IRREPARABLE INJURY AND THAT MONEY DAMAGES WILL NOT PROVIDE AN ADEQUATE REMEDY
      THEREFOR AND BOTH PARTIES HEREBY CONSENT TO THE ISSUANCE OF AN INJUNCTION.
      IN
      THE EVENT EITHER PARTY SEEKS INJUNCTIVE RELIEF, THE PREVAILING PARTY SHALL
      BE
      ENTITLED TO RECOVER REASONABLE COSTS AND ATTORNEYS FEES.

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    13.5 Administrative
      Relief.
      EXECUTIVE UNDERSTANDS THAT THIS AGREEMENT DOES NOT PROHIBIT HIM FROM PURSUING
      AN
      ADMINISTRATIVE CLAIM WITH A LOCAL, STATE OR FEDERAL ADMINISTRATIVE BODY SUCH
      AS
      THE DEPARTMENT OF FAIR EMPLOYMENT AND HOUSING, THE EQUAL EMPLOYMENT OPPORTUNITY
      COMMISSION OR THE WORKERS’ COMPENSATION BOARD. THIS AGREEMENT DOES, HOWEVER,
      PRECLUDE EXECUTIVE FROM PURSUING COURT ACTION REGARDING ANY SUCH
      CLAIM.

     

    13.6 Voluntary
      Nature of Agreement.
      EXECUTIVE ACKNOWLEDGES AND AGREES THAT HE IS EXECUTING THIS AGREEMENT
      VOLUNTARILY AND WITHOUT ANY DURESS OR UNDUE INFLUENCE BY THE COMPANY OR ANYONE
      ELSE. EXECUTIVE FURTHER ACKNOWLEDGES AND AGREES THAT HE HAS CAREFULLY READ
      THIS
      AGREEMENT AND THAT HE HAS ASKED ANY QUESTIONS NEEDED FOR HIM TO UNDERSTAND
      THE
      TERMS, CONSEQUENCES AND BINDING EFFECT OF THIS AGREEMENT AND FULLY UNDERSTAND
      IT, INCLUDING THAT EXECUTIVE IS
      WAIVING HIS RIGHT TO A JURY TRIAL.
      FINALLY, EXECUTIVE AGREES THAT HE HAS BEEN PROVIDED AN OPPORTUNITY TO SEEK
      THE
      ADVICE OF AN ATTORNEY OF HIS CHOICE BEFORE SIGNING THIS AGREEMENT.

     

    14. Miscellaneous. 

     

    14.1 Income
      Tax Treatment.
      Executive and the Company acknowledge that it is the intention of the Company
      to
      deduct all amounts paid under Section 2
      hereof
      as ordinary and necessary business expenses for income tax purposes. Executive
      agrees and represents that he will treat all amounts paid hereunder as ordinary
      income (except for expense reimbursement) for income tax purposes.

     

    14.2 Assignment.
      Executive may not assign any of his rights or obligations hereunder without
      the
      written consent of the Company. Except as otherwise expressly provided herein,
      all covenants and agreements contained in this Agreement by or on behalf of
      any
      of the parties hereto shall bind and inure to the benefit of the respective
      successors and assigns of the parties hereto whether so expressed or
      not.

     

    14.3 Severability.
      Whenever possible, each provision of this Agreement shall be interpreted in
      such
      manner as to be effective and valid under applicable law, but if any provision
      of this Agreement is held to be prohibited by or invalid under applicable law,
      such provision shall be ineffective only to the extent of such prohibition
      or
      invalidity, without invalidating the remainder of this Agreement.

     

    14.4 Counterparts.
      This
      Agreement may be executed in multiple counterparts, each of which shall be
      deemed an original, but all of which taken together shall constitute one and
      the
      same Agreement.

     

    14.5 Descriptive
      Headings; Interpretation.
      The
      descriptive headings in this Agreement are inserted for convenience of reference
      only and are not intended to be part of or to affect the meaning or
      interpretation of this Agreement. The use of the word “including”
in
      this
      Agreement shall be by way of example rather than by limitation.

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    14.6 Notices.
      All
      notices, demands or other communications to be given or delivered under or
      by
      reason of the provisions of this Agreement shall be in writing and shall be
      deemed to have been duly given if (i) delivered personally to the
      recipient, (ii) sent to the recipient by reputable express courier service
      (charges prepaid) or mailed to the recipient by certified or registered mail,
      return receipt requested and postage prepaid, or (iii) transmitted by
      telecopy to the recipient with a confirmation copy to follow the next day to
      be
      delivered by overnight carrier. Such notices, demands and other communications
      shall be sent to the addresses indicated below:

     

    
      	 	
              To
                the Company:

            	
              Cleveland
                BioLabs, Inc.

              
                10268
                  Carnegie Ave.

                Cleveland,
                  OH 44106

                Attention:
                  Chief Officer

                Facsimile:
                  ________________

              

            

    

     

       

    
      	 	
              with
                a copy to: 

            	
              Katten
                Muchin Zavis Rosenman

              
                525
                  West Monroe Street

                Chicago,
                  IL 60661-3693

                Attention:
                  Kurt W. Florian, Esq.

                Facsimile:
                  (312) 902-1061

              

            

    

     

    
    

    
      
        	 	
                To
                  Executive:

              	
                Yakov
                  Kogan

                
                  4930-A
                    S. Cornell Ave.

                  Chicago,
                    IL 60615

                  Facsimile:
                    ________________       

                

              

      

      
        	 	 	 

      

      
        	 	
              	
                 

              

      

      
        	 	with a copy to:  	
                ________________________

                
                  ________________________

                  
                    ________________________

                  

                

                Attention:
                  ________________

                Facsimile:_________________

              

      

        

    

    or
      to
      such other address or to the attention of such other person as the recipient
      party shall have specified by prior written notice to the sending party. Date
      of
      service of such notice shall be (w) the date such notice is personally
      delivered, (x) three days after the date of mailing if sent by certified or
      registered mail, (y) one day after the date of delivery to the overnight
      courier if sent by overnight courier or (z) the next business day after the
      date of transmittal by telecopy.

     

    14.7 Preamble;
      Preliminary Recitals.
      The
      Preliminary Recitals set forth in the Preamble hereto are hereby incorporated
      and made part of this Agreement.

     

    14.8 Entire
      Agreement.
      Except
      as otherwise expressly set forth herein, this Agreement sets forth the entire
      understanding of the parties, and supersedes and preempts all prior oral or
      written understandings and agreements with respect to the subject matter
      hereof.

     

    14.9 Governing
      Law.
      This
      Agreement shall be construed and enforced in accordance with, and all questions
      concerning the construction, validity, interpretation and performance of this
      Agreement shall be governed by, the laws of the State of Ohio without giving
      effect to provisions thereof regarding conflict of laws.

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

    14.10 No
      Strict Construction.
      The
      language used in this Agreement will be deemed to be the language chosen by
      the
      parties hereto to express their mutual intent, and no rule of strict
      construction will be applied against any party hereto.

     

    14.11 Amendment
      and Waivers.
      Any
      provisions of the Agreement may be amended or waived only with the prior written
      consent of the Company and Executive.

     

    

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

     

    
      
        	Date: August
                1, 2004	 	/s/ Yakov
                N. Kogan
	 	 	
                
Signature
	 	 	 
	 	 	Yakov N. Kogan
	 	 	
                
Name
                of Executive (typed or printed)
	 	 	 
	 	 	 
	 	 	 
	 	CLEVELAND
                BIOLABS, INC.
	 
 	 
 	 
 
	 	By:  	/s/ Michael
                Fonstein
	
                 Its:
 

              	
                
CEO
	 	 

      

         

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Exhibit
      A

     

    LIST
      OF PRIOR INVENTIONS

    AND
      ORIGINAL WORKS OF AUTHORSHIP

     

    
      	
              Title

               

            	
              Date

               

            	
              Identifying
                Number

              or
                Brief Description

               

            
	 	 	 
	 	 	 

    

    ____ No
      inventions or improvements

     

    ____ Additional
      Sheets Attached

     

    Signature
      of Executive: _______________________

     

    Print
      Name of Executive: ______________________

     

    Date:
      _____________________________________

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    Exhibit
      B

     

    CLEVELAND
      BIOLABS, INC.

    TERMINATION
      CERTIFICATION

     

    This
      is
      to certify that the undersigned does not have in my possession, nor have I
      failed to return, any devices, records, data, notes, reports, proposals, lists,
      correspondence, specifications, drawings, blueprints, sketches, materials,
      equipment, other documents or property, or reproductions of any aforementioned
      items belonging to Cleveland BioLabs, Inc., its subsidiaries, affiliates,
      successors or assigns (together, the “Company”).

     

    I
      further
      certify that I have complied with all the terms of the Company’s Employment
      Agreement signed by me, including the reporting of any inventions and original
      works of authorship (as defined therein), conceived or made by me (solely or
      jointly with others) covered by that agreement.

     

    I
      further
      agree that, in compliance with the Employment Agreement, I will preserve as
      confidential all trade secrets, confidential knowledge, data or other
      proprietary information relating to products, processes, know-how, designs,
      formulas, developmental or experimental work, computer programs, data bases,
      other original works of authorship, customer lists, business plans, financial
      information or other subject matter pertaining to any business of the Company
      or
      any of its employees, clients, consultants or licensees.

     

    I
      further
      agree that for twelve (12) months from this date, I will not solicit, induce,
      recruit or encourage any of the Company’s employees to leave their
      employment.

     

    I
      further
      agree that for [time from section 8] within [distance from section 8]
      I will not directly or indirectly own, manage, operate, consult or to be
      employed in a business substantially similar to, or competitive with, the
      present business of the Company and its successors and assigns or such other
      business activity in which the Company and its successors and assigns may
      substantially engage during the term of employment.

     

    Date:
      _______________    

     

    (Employee’s
      Signature) _______________________

    

     

     

     

     

    __________________________________________

    (Type/Print
      Employee’s Name)

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Exhibit
      D

     

    CLEVELAND
      BIOLABS, INC.

    CONFLICT
      OF INTEREST GUIDELINES

     

    It
      is the
      policy of Cleveland BioLabs, Inc. to conduct its affairs in strict compliance
      with the letter and spirit of the law and to adhere to the highest principles
      of
      business ethics. Accordingly, all officers, employees and independent
      contractors must avoid activities which are in conflict, or give the appearance
      of being in conflict, with these principles and with the interests of the
      Company. The following are potentially compromising situations which must be
      avoided. Any exceptions must be reported to the President and written approval
      for continuation must be obtained.

     

    1. Revealing
      confidential information to outsiders or misusing confidential information.
      Unauthorized divulging of information is a violation of this policy whether
      or
      not for personal gain and whether or not harm to the Company is intended. (The
      Employment Agreement elaborates on this principle and is a binding
      agreement.)

     

    2. Accepting
      or offering substantial gifts, excessive entertainment, favors or payments
      which
      may be deemed to constitute undue influence or otherwise be improper or
      embarrassing to the Company.

     

    3. Participating
      in civic or professional organizations that might involve divulging confidential
      information of the Company.

     

    4. Initiating
      or approving personnel actions affecting reward or punishment of employees
      or
      applicants where there is a family relationship or is or appears to be a
      personal or social involvement.

     

    5. Initiating
      or approving any form of personal or social harassment of
      employees.

     

    6.
       Investing
      or holding outside directorship in suppliers, customers, or competing companies,
      including financial speculations, where such investment or directorship might
      influence in any manner a decision or course of action of the
      Company.

     

    7. Borrowing
      from or lending to employees customers or suppliers.

     

    8. Acquiring
      real estate of interest to the Company.

     

    9. Improperly
      using or disclosing to the Company any proprietary information or trade secrets
      of any former or concurrent employer or other person or entity with whom
      obligations of confidentiality exist.

     

    10. Unlawfully
      discussing prices, costs, customers, sales or markets with competing companies
      or their employees.

     

    11. Making
      any unlawful agreement with distributors with respect to prices.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    12. Improperly
      using or authorizing the use of any inventions which are the subject of patent
      claims of any other person or entity.

     

    13. Engaging
      in any conduct which is not in the best interest of the Company.

     

    Each
      officer, employee and independent contractor must take every necessary action
      to
      ensure compliance with these guidelines and to bring problem areas to the
      attention of higher management for review. Violations of this conflict of
      interest policy may result in discharge without warning.

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