Document:

Exhibit 10.33

		

			Exhibit 10.33

		

		

			 

		

		
			
		

		
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			December 14, 2016
		

		
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			Anthony DiLucente
		

		
			105 Fox Pointe Drive
		

		
			Chardon, OH 44024
		

		
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			Dear Tony,
		

		
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			I am pleased to confirm our formal offer of employment to you for the position of Chief Financial Officer.  The purpose of this letter is to summarize the terms of our offer.
		

		
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			As the Chief Financial Officer for ServiceMaster located in Memphis, TN you will report to Rob Gillette, President and Chief Executive Officer.  Your effective start date will be January 17, 2017.
		

		
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			Base Salary
		

		
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			Your base compensation in this position will be at an annual rate of $450,000.  This will be paid on the 15th and the last business day of each month.
		

		
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			Annual Bonus Plan (ABP)
		

		
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			In this position, you will be eligible to receive a bonus payment with a target of 70% of your base salary under the Annual Bonus Plan (“ABP”).  Your eligibility will begin on your hire date.  The plan ends December 31.
		

		
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			Sign-On Bonus
		

		
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			You will receive a $170,000 sign-on bonus, payable after thirty days of employment.  You will be required to sign a Sign-on Bonus Repayment Agreement.
		

		
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			Equity
		

		
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			Upon approval by the Compensation Committee of the Board of Directors at their next scheduled meeting, you will receive a Restricted Stock Unit award (“RSUs”) with a grant date value of $250,000.
		

		
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			The actual number of RSUs will be determined by dividing the grant date value by the Fair Market Value of the Company’s common stock on the date of the award.
		

		
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			Additional information on the Plan, including the Plan documents, will be provided to you upon approval of the awards.
		

		
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		Paid Time Off
		

		
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			You are also eligible for 4 weeks (twenty business days) vacation in addition to personal days, sick time and holidays.  
		

		
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			All compensation, including bonus and incentive payments, if applicable, will be subject to applicable payroll deductions.  The Company reserves the right, in its sole discretion, to at any time revise, modify, suspend, or withdraw any compensation, annual bonus, or other incentive plans, as to participation level, payout metrics, eligibility, timing or other features of the plan.
		

		
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			Benefits
		

		
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			ServiceMaster offers you a comprehensive and flexible benefits package that allows you to choose coverage that best meets your needs.  Regular, full-time employees are eligible to participate in medical, dental, vision, disability and life insurance, the legal service plan, flexible spending accounts, and health savings account.  Coverage for most plans is effective on the 91st day of employment.  ServiceMaster will reimburse you for the cost of your COBRA premiums until your ServiceMaster benefit coverage effective date.  If you choose not to enroll in ServiceMaster’s benefits, your insurance reimbursement will not continue beyond your ServiceMaster coverage effective date.  Disability coverage is effective the day following the completion of twelve consecutive months of service.  The ServiceMaster LifeManagement Program – ServiceMaster’s EAP – is available to you and your immediate family and household members on your first day of employment.
		

		
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			The ServiceMaster Profit Sharing and Retirement Plan (401(k)) provides you a convenient way to save for retirement.  You will be automatically enrolled in the 401(k) at a 3% contribution rate after completing 90 days of service.  You may increase, decrease, or stop your 401(k) contributions at any time before or after your automatic contributions to the plan begin.
		

		
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			Additional information on all health and welfare and retirement benefits will be mailed to your home approximately six weeks after your date of hire, and is also available at www.servbenefits.com.
		

		
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			Relocation
		

		
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			You will receive the Executive Relocation package per the attached relocation policy.  You will be required to sign a Relocation Repayment Agreement.  Please contact Elizabeth Lee, HR Programs Specialist, at 901-597-7454, if you have any questions.
		

		
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			Conditions of Employment
		

		
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			This offer of employment is contingent upon successfully passing a drug-screening test and criminal background check, as well as education verification, if applicable.  This offer is also contingent upon the completion of verification of the facts you have provided on your application for employment and for I-9 purposes.  
		

		
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			This offer of employment is also contingent on your execution of the ServiceMaster Non-Compete/Non-Solicitation/Confidentiality agreement (enclosed) and your agreement to utilize ServiceMaster’s alternative dispute resolution program We Listen to resolve any and all work-related disputes/concerns and to arbitrate such disputes if they are not resolved.
		

		

		

		 

 

		

			

		

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			This letter shall not constitute an employment contract and nothing herein changes your status as an “at-will” employee.
		

		
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			Tony, we look forward to having you as a key member of the ServiceMaster team.  Our success hinges upon the people who make up our organization and we are excited about the strength you will lend to our team.
		

		
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			Sincerely,
		

		
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			/s/ Susan K. Hunsberger
		

		
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			Susan K. Hunsberger
		

		
			Chief Human Resources Officer
		

		
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			I accept this offer of employment under the terms and conditions set forth above.
		

		
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			Signature:       /s/ Anthony DiLucente Date: December 21, 2016February
20, 2017

 

Joseph
Moscato

Generex
Biotechnology Corporation

President
& Chief Executive Officer

4145
North Service Road, Suite 200

Burlington,
Ontario

Canada
L7L 6A3

 

Re:
Waiver of Breach Under Letter Of Intent dated January 16, 2017

 

Dear
Mr. Moscato,

 

Reference
is made to that binding Letter of Intent dated January 16, 2017 between Emmaus Life Sciences, Inc. (“Emmaus”) and
Generex Biotechnology Corporation (“Generex”) (the “LOI”).

 

The
LOI at section 1.c provides that Generex shall pay One Million Five Hundred Thousand Dollars ($1,500,000) to Emmaus within three
(3) weeks of January 16, 2017, which was February 6, 2017. Generex missed the deadline and on February 6, 2017 Emmaus provided
a one time waiver of the breach of the LOI provided that Generex make the payment on or prior to February 16, 2017.

 

Generex
failed to make this payment by February 16, 2017, which constitutes a continuing breach of the LOI by Generex. Emmaus is willing
to provide Generex with an additional one time waiver of the continuing breach of the LOI until February 24, 2017, on the terms
set forth in this letter agreement.

 

In
addition, the date upon which Generex is obliged to make payment to Emmaus of the Second Additional Deposit (as that term is defined
in sub-section 1.e of the LOI), being the sum of Two Million Dollars ($2,000,000), shall be extended to March 20, 2017 (as shall
the anticipated date of the execution and delivery of the formal Purchase Agreement). Furthermore, the date of Closing (as that
term is defined in the LOI) shall be extended to the date that is five (5) trading days after the date (the “Filing Date”)
upon which Generex files with the Delaware Secretary of State an Amendment to its Restated Certificate of Incorporation effecting
an increase in its authorized capital, provided however that the Filing Date shall be no later than May 1, 2017 and the date of
Closing shall be no later than May 8, 2017.

 

In
addition, if the LOI is terminated for any reason or no reason and Emmaus is required to return the deposits under the LOI, Emmaus
shall have a period of sixty (60) days from the date of termination to return the deposits.

 

In
light of the foregoing, subsection 1.e, of the LOI shall be amended to read in its entirely as follows:

 

“e.
Payment of Ten ($10,000,000) Million. Purchaser and Company acknowledge the payment and receipt of an initial deposit
of five hundred thousand dollars ($500,000, the “Deposit”) at their meeting place on January 16, 2017. The Parties
further agree that Purchaser shall provide an additional one million, five hundred thousand dollars ($1,500,000, the “Additional
Deposit”) on or prior to February 24, 2017. In addition, upon signing of the formal Purchase Agreement, which the Parties
anticipate to occur no later than March 20, 2017, Purchaser shall provide an additional two million dollars ($2,000,000, the “Second
Additional Deposit”). Purchaser shall provide satisfactory proof of funds for the Second Additional Deposit to Company no
later than March 15, 2017. The remaining six million dollars ($6,000,000) shall be paid at closing of the formal Purchase Agreement,
which shall be done no later than the date that is five (5) trading days after the date (the “Filing Date”) upon which
Purchaser files with the Delaware Secretary of State an Amendment to its Restated Certificate of Incorporation effecting an increase
in its authorized capital, provided however that the Filing Date shall be no later than May 1, 2017 and the date of Closing shall
be no later than May 8, 2017. Purchaser shall provide satisfactory proof of funds for the six million dollars ($6,000,000) no
later than three (3) business days prior to the Filing Date. If the formal Purchase Agreement is not executed or the Closing does
not occur within the time periods provided for above, all deposits then made to Company shall be refunded to Purchaser within
sixty (60) days, plus a breakup fee equal to warrants to acquire Company capital stock with a market value of $500,000 with a
strike price corresponding to the Closing valuation of Company at $450 million. The breakup fee shall be payable only if the failure
to execute the Purchase Agreement or the close is not caused by the fault of or breach of obligations by Purchaser.”

 

As
consideration for the foregoing waiver, extensions and amendments, Generex shall issue to Emmaus 24,414,063 pre-split shares of
restricted common stock of Generex (the “Shares”) within three (3) trading days of the Filing Date. The foregoing
number of Shares shall be equitably adjusted in the event of a stock split, reverse stock split, stock dividend or other similar
recapitalization of Generex. Generex shall register all of the Shares under the Securities Act of 1933, as amended (the “Securities
Act”), in the next registration statement filed by Generex, provided however that Generex shall at all events register the
Shares within forty-five (45) days of the Filing Date. Generex agrees that the Shares shall be fully paid and non-assessable when
issued to Emmaus, and shall not be refundable or returnable to Generex under any circumstances whatsoever, including upon the
termination of the LOI for any reason or no reason. In addition, Generex shall register under the Securities Act all of the shares
of Generex Common Stock issued to Company pursuant to the transactions contemplated by the LOI within six months after the Closing.

Notwithstanding
any other provision of the LOI, Generex shall indemnify Emmaus for any liabilities, costs, expenses or damages (including reasonable
attorneys’ fees) related to or arising out of any disputes regarding the subject matter of this waiver or the LOI.

 

The
foregoing waiver shall expire at 5:00pm on February 24, 2017. The foregoing waiver shall not be deemed or constitute a waiver
of any of the other provisions of the LOI, nor shall the foregoing waiver constitute a continuing waiver extending beyond 5:00pm
on February 24, 2017.

 

    	 

    	 

    

 

If
Generex is in agreement with the foregoing, please execute the agreement and acceptance below and return it to me.

 

Sincerely,

	 	 	 	 	 	 	 
	 	 	 	 	EMMAUS
    LIFE SCIENCES, INC.
	 	 	 
		 	 By:	 	
	 	 	 	 	 	 	Yutaka
                                         Niihara, MD, MPH

                                                          Chairman
                                         and Chief Executive Officer 

	 	 	 	 	 	 	

 

 

Agreed
and accepted:

 

 

	 	Generex Biotechnology Corporation	 
	 	 	 
	By:	 	 
	 	Joseph Moscato	 
	 	President & Chief Executive Officer

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