Document:

Unassociated Document

    Scott
      Langille Employment Agreement of April 15, 2006

    Agreement
      Amendments of December 18, 2006

     

     

    
       

      
        	1)	
                Section
                  6.2 currently reads: 

                "
                  ViRexx will grant to Langille an option to purchase one hundred
                  and fifty
                  thousand (150,000) common shares
                  of ViRexx at an option exercise price per share equal to the closing
                  price
                  of ViRexx's common shares on the  Toronto
                  Stock Exchange on the date this Agreement becomes effective (the
                  "Stock
                  Option"), subject to the provisions  of
                  ViRexx's stock options agreement and all applicable regulations
                  and laws.
                  The one hundred and fifty thousand (150,000)
                  Options shall vest in equal 1/3 amounts over a three (3) year period
                  as
                  follows:       

              

      

         

       

      10-Apr-07  50,000      

      10-Apr-08  50,000      

      10-Apr-09  50,000      

       

      
        	
              	
                Section6.2
                  revised to read: 
                  
                  "
                    ViRexx will grant to Langille an option to purchase one
                    hundred and fifty thousand (150,000) common shares of ViRexx at an
                    option exercise price per share equal to the closing price of
                    ViRexx's
                    common shares on the Toronto Stock Exchange on December 14, 2006
                    (the
                    "Stock Option"), subject to the provisions  of ViRexx's stock
                    options agreement and all applicable regulations and laws. The
                    one hundred
                    and fifty thousand (150,000) Options shall vest in equal 1/3
                    amounts over
                    a three (3) year period as
                    follows:        

                

              

      

        

       

      14-Dec-06  50,000      

      14-Dec-07  50,000      

      14-Dec-08  50,000      

       

      
        	2)	
                Section
                  10.3 currently reads: 

                  "ViRexx
                    may, at its option, terminate Langille's employment pursuant
                    to this
                    Agreement in its sole discretion  for
                    any reason, without cause, upon providing Langille with one (1)
                    year's
                    notice or payment in lieu thereof, which shall
                    be inclusive of all notice required pursuant to the Employment
                    Standards
                    Code, Alberta. If ViRexx terminates Langille's
                    employment without just cause and provides him with the above
                    described
                    notice, or pay in lieu of notice,  Langille
                    agrees that he will no further claims against ViRexx. All benefits
                    and
                    allowances set out in Article 5,Article
                    6 and Article 7 above shall cease as of Langille's last day of
                    work,
                    subject to any conversion rights available to Langille
                    under Virexx group benefit plan. If notice is given to langille
                    by ViRexx
                    and such notice contemplates that Langille
                    will remain at ViRexx to perform his duties until the notice
                    period ends,
                    Langille shall be given reasonable time
                    to conduct a new job search and engage in interviews with prospective
                    employers."         

                

              

      

        

       

      
        	 	
                Section
                  10.3 revised to read: 

                  "ViRexx
                    may, at its option, terminate Langille's employment pursuant
                    to this
                    Agreement in its sole discretion  for
                    any reason, without cause, upon providing Langille 12 months
                    payment of
                    current salary which shall be  inclusive
                    of all notice required pursuant to the Employment Standards Code,
                    Alberta.
                    Medical benefits will continue for
                    90 days after termination. If terminated, ViRexx will reimburse
                    Langille
                    for all relocation expenses back to Ontario If
                    ViRexx terminates Langille's employment and provides him with
                    12 months
                    payment of current salary + relocation expenses,
                    Langille agrees that he will have no further claims against
                    ViRexx.         

                

              

      

         

       

      
        	3)	
                New
                  Section: Home Office 

                  Langille
                    will work out of home office located in Elora Ontario 2 of every
                    4 weeks
                    per month. The company will pay for return
                    flights to Toronto 2 per month. Where possible Langille will
                    coordinate
                    flights to home office with Investor Relations work
                    in Toronto and New York to save on travel costs. The company
                    will
                    reimburse all costs associated with  
Langille
                    maintaining his condominium in Edmonton (which replaces hotel
                    and meal
                    costs - see attached analysis), as
                    well as the costs of setting up and maintaining a home office
                    in Ontario
                    (for example purchase of a fax machine, direct
                    phone line, long distance costs etc.). The company will reimburse
                    Langille
                    for the transport of his vehicle back to
                    Ontario for use while at home office.        

                

              

      

             

       

      
        	4)	
                New
                  Section: Revised Bonus for 2007 

                Langille's
                  current project bonus of 20% of current salary will be
                  increased to 25% of currently salary for 2007

                 

                Agreement
                  Amendments Accepted:       

              

      

         

       

       

                      

      Lorne
        Tyrrell   Scott
        Langille     

      18-Dec-06    18-Dec-06Unassociated Document

    EMPLOYMENT
      AGREEMENT

     

    THIS
      AGREEMENT made as at the 1st
      day
      of January
      2007.

     

     

    BETWEEN:

    VIREXX
      MEDICAL CORP. 

    having
      an
      office at the City of Edmonton,

    in
      the
      Province of Alberta,

    

    (hereinafter
      called the "Employer"),

     

    OF
      THE
      FIRST PART,

     

    -
      and
      -

     

    [________________________]

    of
      the
      City of Spruce Grove,

    in
      the
      Province of Alberta,

    

    (hereinafter
      called the "Employee"),

     

    OF
      THE
      SECOND PART,

     

    WHEREAS:

     

    	A.  	
            The
              Employee has agreed to terms of employment with the Employer in the
              capacity and position of Senior Vice President Operations;
              and

          

     

    	B.  	
            The
              Employer and the Employee wish to confirm their relationship upon the
              terms and conditions as provided in this
              Agreement.

          

     

    NOW
      THEREFORE THIS AGREEMENT WITNESSES
      that in
      consideration of the mutual covenants and agreements referred to herein, and
      the
      sum of TEN DOLLARS ($10) now paid or to be paid on behalf of the Employer to
      the
      Employee, the receipt and sufficiency of which consideration is hereby
      acknowledged, the parties covenant and agree as follows:

     

     

    ARTICLE
      1.  INTERPRETATION

     

    	1.1  	
            Number
              and Gender

          

     

    Words
      importing the singular number only shall include the plural and vice versa
      and
      words importing the masculine gender shall include the feminine gender and
      words
      importing persons shall include firms and corporations and vice
      versa.

     

    	1.2  	
            Division

          

     

    The
      division of this Agreement into Articles and Sections forms no part of this
      Agreement and shall be deemed to have been inserted and done for convenience
      only.

     

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    	1.3  	
            Headings

          

     

    The
      headings of all the Articles and Sections hereof and the table of contents,
      if
      any, are inserted for convenience of reference only and shall not affect the
      construction or interpretation of this Agreement.

     

    	1.4  	
            Recitals

          

     

    All
      recitals to this Agreement shall be included in and form part of this
      Agreement.

     

    	1.5  	
            Continuance
              of Agreement

          

     

    The
      provisions of this Agreement shall continue in effect until the final
      performance of all the respective obligations set forth herein or until amended
      or altered by agreement in writing.

     

    	1.6  	
            Agreement
              Supersedes

          

     

    This
      Agreement represents a composite of all previous agreements, if any, reached
      to
      date and that hereafter, this Agreement and the Employee Confidentiality
      Agreement, a copy of which is annexed hereto as Schedule “B”, are the only
      agreements between the parties with respect to the matters contemplated by
      this
      Agreement, and shall supersede and replace any discussion letter or form of
      Agreement, oral or written, which may exist as of the date of execution and
      delivery of this Agreement.

     

    	1.7  	
            Applicable
              Law

          

     

    This
      Agreement shall be governed by the laws of the Province of Alberta.

     

    	1.8  	
            Schedules

          

     

    The
      following schedules are incorporated into and form part of this
      Agreement:

     

    Schedule
      "A" -
      Position Profile

     

    Schedule
      "B" -
      Employee Confidentiality Agreement

     

    Schedule
      "B" to this Agreement is referenced in Article 6 and is in full force and effect
      when fully executed.

     

    	1.9  	
            Effective
              Date

          

     

    Notwithstanding
      the date of execution of this Agreement by the Employer and the Employee, this
      Agreement shall be deemed for all purposes to be effective as at and from the
      1st
      day
      of January 2007 (the "Effective
      Date").

     

    	1.10  	
            Severability

          

     

    In
      the
      event that any provision or part of this Agreement shall be deemed void or
      invalid by a court of competent jurisdiction, the remaining provisions or parts
      shall be and remain in full force and effect.

     

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    	1.11  	
            Modification
              of Agreement

          

     

    Any
      modification to this Agreement must be in writing and signed by the parties
      or
      it shall have no effect and shall be void.

     

     

    ARTICLE
      2.  EMPLOYMENT

     

    	2.1  	
            Employment

          

     

    The
      Employer hereby employs the Employee to be the Employer's Senior Vice President
      Operations for the purposes of undertaking the duties of and exercising the
      powers of that office. The Employee represents and warrants to the Employer
      that
      the Employee has the required skills and experience to perform the duties and
      exercise the responsibilities required of the Employee as Senior Vice President
      Operations. In carrying out his duties and responsibilities, the Employee shall
      comply with all lawful and reasonable instructions as may be given by the
      President of the Employer and shall comply with all government and other
      professional requirements, rules, by-laws and regulations.

     

    	2.2  	
            Employee's
              Undertaking

          

     

    2.2.1
      The
      Employee, in collaboration with the Employer's President and Employer's Board
      of
      Directors, shall be responsible for such reasonable duties consistent with
      the
      position of Senior Vice President Operations as may from time to time be
      required or authorized by the President and/or the Board of Directors of the
      Employer, without restricting the generality of the foregoing, shall
      include:

     

    2.2.1.1
      discharging those duties and responsibilities set out in the Position Profile
      attached as Schedule "A", which may be amended from time to time by the
      Employer, so long as those amended duties and responsibilities are consistent
      with the duties of a Senior Vice President Operations; and

     

    2.2.1.2
      using his best efforts to promote the interests and goodwill of the
      Employer.

     

    2.2.2
      In
      the performance of the responsibilities listed in Section 2.2, the Employee
      may,
      under
      direction of the President of the Corporation,
      delegate
      or assign duties as appropriate to staff and external experts/consultants as
      required provided that the Employee shall maintain management responsibility
      over those to whom duties have been delegated and/or assigned.

     

    2.3
       Time
      Devotion

     

    2.3.1
      The
      Employee shall, during the term of this Agreement, devote his full business
      time, attention and ability to the affairs of the Employer in furtherance of
      the
      Employer's best interest as is necessary to fulfill his duties hereunder. It
      is
      understood that the hours of work involved are going to vary and be irregular
      and shall include reasonably sufficient hours required to meet the objectives
      of
      employment herein described.

     

    2.3.2
      The
      Employer acknowledges and agrees that the Employee is an Adjunct Professor
      at
      the University of Alberta and that he may use a reasonable amount of time to
      continue to fulfill these obligations.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    2.4
       Serving
      the Company

     

    The
      Employee shall well and faithfully serve the Employer and use his best efforts
      to promote the interests thereof. In carrying out his duties, functions and
      responsibilities, the Employee shall comply with, adhere to, execute and fulfill
      all of the
      Employer's written
      policies, procedures, rules and regulations, as
      amended in writing by the Employer from time to time. It is understood and
      agreed to by the Employee that his assignments, duties, responsibilities and
      reporting arrangements may be changed by the Employer in its sole discretion
      without causing termination of this Agreement.

     

    2.5
       Business
      Conduct

     

    The
      Employee agrees that in all matters affecting the conduct of the Employer's
      business, the Employee shall maintain a standard of conduct which in all
      respects meets a reasonable standard of business conduct in the industry in
      which the Employer operates.

     

    2.6
       Employer
      Powers

     

    Subject
      always to this Agreement and all applicable laws, the Employer shall have the
      power and authority to review all work performed by the Employee and to
      determine standards of performance; provided always, that the Employer's
      exercise of such power and authority shall be reasonably done in good faith
      and
      be consistent with its prior practice.

     

    2.7 
      Responsibility of Employee

     

    The
      Employee assumes no responsibility under this Agreement other than to render
      the
      services called for hereunder in good faith.

     

    2.8 
      Liability of the Employee

     

    The
      Employee will not be liable to the Employer or others except by reason of acts
      constituting bad faith, willful misconduct, negligence or reckless disregard
      of
      his duties.

     

    2.9 Exercise
      of Duties

     

    At
      all
      times, the Employee shall act on a basis which is fair and reasonable to the
      Employer and shall exercise his powers and discharge his duties under this
      Agreement honestly, in good faith and in the best interests of the Employer,
      and
      in connection therewith shall exercise that degree of care, diligence and skill
      that a reasonably prudent person would exercise in comparable
      circumstances.

     

    2.10 Location

     

    The
      Employee's place of employment shall be at the head office of the Employer
      located at 8223 Roper Road, NW, Edmonton, Alberta or such other place as the
      Board of Directors directs.

     

    2.11 Records
      and Materials

     

    Upon
      expiry or termination of the Employee's employment with the Employer, the
      Employee shall deliver to the Employer all proprietary information and all
      Confidential Information referred
      to in Article 6, including but not restricted to all data,
      records
      and materials with respect to the Employer which are in his possession and/or
      under his control.

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    2.12 No
      Interest

     

    Nothing
      herein shall be construed to give the Employee any interest in the tangible
      or
      intangible assets of the Employer.

     

     

    ARTICLE
      3.  REMUNERATION

     

    	3.1  	
            Compensation
              of the Employee

          

     

    Throughout
      the term of this Agreement, commencing January
      1, 2007, the Employer shall pay to the Employee a salary, set from time to
      time
      by the Board of Directors, stated as an annualized amount but payable
semi-monthly
      in arrears in equal monthly installments for each year during the term of the
      Employee's employment and commencing on the Effective Date. The Employee's
      salary at the commencement of and throughout the term of this Agreement shall
      be
      no less than ONE
      HUNDRED SIXTY THOUSAND ($160,000.00) DOLLARS
      Canadian
      per annum. The Employee's compensation and performance shall be reviewed by
      the
      Board of Directors annually at least one month prior to each anniversary date
      of
      commencement. The Employee shall have the right to provide information to the
      Board of Directors on all factors relevant to the Board's decision on any
      increase in compensation

     

    	3.2  	
            Bonuses

          

     

    For
      each
      year of the term of this Employment Agreement and any extension or renewal
      thereof, the Employee is eligible to be considered for a bonus to be decided
      on
      by the Board of Directors. The current Compensation Plan calls for a bonus
      of
      20% for this level of employment. Considering that ViRexx is in Development
      phase and currently does not have income inflow, Management reserves the right
      whether or not to pay this bonus subject to the availability of
      cash.

     

    	3.3  	
            Benefits

          

     

    The
      Employer shall provide the Employee with participation in any benefit programs
      as they are made generally available by the Employer to its other employees
      including
      life,
      disability, health and dental insurance,
      Alberta
      Health Care and Parking.

     

    	3.4  	
            Pension

          

     

    The
      Employer agrees to make matching annual contributions to the Employee's RRSP
      up
      to a maximum of 3% of the Employee's salary.

     

    	3.5  	
            Stock
              Options

          

     

    
      	
              3.5.1
                

            	
              The
                Employee will be eligible to participate in the Employer's stock
                option
                program or plan as may be determined and/or amended from time to
                time in
                the sole discretion of Employer and as approved by the Board of Directors
                subject to any applicable regulatory or necessary shareholder
                approvals.

            

    

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    
      	
              3.5.2
                

            	
              It
                is hereby acknowledged that any option granted
                to
                the Employee shall be within the sole discretion of the
                Board of Directors subject to any applicable regulatory or necessary
                shareholder approvals.

            

    

     

    
      	
              3.5.3
                

            	
              If
                the Employee’s
                employment is terminated or deemed terminated
                by
                the Employer
                pursuant to Section 5.3 then
                all unvested
                options granted
                to
                the Employee shall
                vest immediately upon termination and
                the Employee shall have ninety
                (90) days from the date of termination to exercise
                his
                options unless
                such ninety (90) day
                period is
                extended
                by
                the
                Board of Directors.

            

    

     

    
      	
              3.5.4
                

            	
              If
                the Employee
                is
                terminated or deemed terminated pursuant to Section
                5.5, all
                options not
                yet vested shall be vested immediately upon termination or deemed
                terminated for Good Reason and
                the
                stock option exercise period
                will be
                extended
                from ninety
                (90)
                days
                to
                twelve (12)
                months.

            

    

     

    	3.6  	
            Car
              Allowance and Business Expenses

          

     

    The
      Employee shall be paid a car mileage allowance for longer trips away from
      Edmonton and his reasonable business expenses, including business-related mobile
      phone charges, shall be reimbursed by the Employer.

     

    	3.7  	
            Additional
              Benefits

          

     

    The
      Employer shall pay all professional association and development fees and all
      course costs which are incurred from time to time by the Employee in maintaining
      his professional designations and upgrading and/or continuing his education
      and
      development to improve the performance of his duties.

     

     

    ARTICLE
      4.  VACATION

     

    The
      Employee shall be entitled to a period of four weeks paid vacation per calendar
      year. The Employee will provide the Employer with reasonable written notice
      of
      his intention to take any vacation days. The Employee shall be allowed to
      accumulate one week vacation per year from the previous year but at no time
      shall the Employee be entitled to accumulate unused weeks such that he has
      more
      than five (5) weeks of vacation in any one (1) year.

     

     

    ARTICLE
      5.  TERM
      AND TERMINATION

     

    	5.1  	
            Term

          

     

    This
      Agreement commenced on the Effective Date and shall continue indefinitely unless
      terminated earlier.

     

    	5.2  	
            Termination
              by the Employer for Cause

          

     

    The
      Board
      of Directors, by majority decision acting reasonably, shall have the right
      to
      terminate the Employee's employment
      for
      cause, including, but without restricting the generality of the foregoing,
      upon
      the occurrence of one or more of the following default events:

     

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    	5.2.1  	
            the
              Employee's failure or refusal to comply with policies established from
              time to time by the Board of Directors, provided always that such policies
              are documented in writing and communicated to the Employee and are
              reasonable and consistent with the Employer's best
              interests;

          

     

    	5.2.2  	
            the
              Employee's failure or refusal to comply with the directions of the
              Board
              of Directors or the Board of Directors determine, in their sole
              discretion, that the Employee's performance of his duties under this
              Agreement is unsatisfactory;

          

     

    	5.2.3  	
            the
              Employee's fraud, dishonesty or other willful misconduct or the Employee's
              negligence;

          

     

    	5.2.4  	
            if
              the Employee engages in any criminal activity or unethical conduct
              which,
              in the sole discretion of the Employer, is judged to seriously impair
              the
              Employee's ability to perform his duties hereunder, or would or could
              impair the business reputation of the Employer, including, but not
              limited
              to, where the Employee is convicted of any indictable criminal
              offence;

          

     

    	5.2.5  	
            any
              actual or material breach of the provisions of this
              Agreement;

          

     

    	5.2.6  	
            the
              Employee is adjudged bankrupt.

          

     

    	5.3  	
            Termination
              by the Employee or
              by
              the Employer Without Cause

          

     

    5.3.1 This
      Agreement may be terminated by the Employer
      or the
      Employee without cause in the following manner in the specified
      circumstances:

     

    5.3.1.1
      by the Employee on giving ninety
      (90)
      days
      notice in writing to the Employer, the Employer may waive the notice in whole
      or
      in part;

     

    5.3.1.2
      by the Employer on giving one (1) years notice in writing to the Employee or
      payment in lieu of notice inclusive of all benefits except for those detailed
      in
      the paragraph below;

     

    5.3.2 None
      of
      the payments in lieu of notice referred to in 5.3.1.1
      and
5.3.1.2
      above
      include bonus which may be payable, the value of benefits otherwise received
      over the same period and any accrued vacation pay, nor do these payments include
      any reasonable out placement and relocation assistance from the
      Employer
      which
      may be agreed upon as a full and final settlement to the Employee.

     

     

    	5.4  	
            Termination
              Upon a Change of Control

          

     

    5.4.1 “Change
      of Control” for the purposes of this Agreement means the
      occurrence of any one or more of the following:

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    5.4.1.1  a
      change
      of control of the Employer or
      of any
      material subsidiary of the Employer; 

     

    5.4.1.2  the
      closing of a merger, acquisition, sale of securities, amalgamation, plan of
      arrangement, take-over bid, insider bid, issuer bid other than a normal course
      issuer bid, reorganization, exchange of assets or securities, any one of which
      results in a change of voting control of the issued and outstanding securities
      of the Employer and a subsequent election of new directors who gain control
      of
      the Board of Directors; sale of all or substantially all of the assets of the
      business of the Employer, a proxy contest resulting in appointment of new
      directors who take control of the Board of Directors; or any other change which
      the Board of Directors declares to be a Change of Control; but

     

    5.4.1.3  excludes
      internal reorganizations, reverse takeovers (where the Employer remains the
      dominant entity) and transfers among the group of entities controlled by a
      substantial shareholder.

     

    5.4.2 “Good
      Reason”
for
      the
      purposes of this Agreement means a material adverse change to
      the
      Employee’s
      terms
      and conditions of employment following a Change of Control including but not
      limited to:

     

    5.4.2.1  failure
      by the Employer to maintain the Employee in at least the same or an equivalent
      position which the Employee occupied before the Change in Control of the
      Employer;

     

    5.4.2.2  failure
      by the Employer to provide the Employee with compensation benefits equal to
      or
      greater than the Employee was receiving prior to the Change in Control of the
      Employer;

     

    5.4.2.3  relocation
      of Employee’s place of work to a location more than fifty (50) miles from it’s
      location immediately prior to the Change of Control; or

     

    5.4.2.4  if
      there
      is any material change in the Employee’s reporting relationships, any material
      reduction in the Employee’s duties, responsibilities or authority or any other
      action that has the effect of a demotion of the Employee: to the extent the
      Change of Control results in the Employer (or a successor to the Employer by
      merger, consolidation or the like), continuing in existence as a direct or
      indirect subsidiary of an acquirer, then the Employee shall be considered to
      have been demoted unless given the same or equivalent position, duties and
      authority in the ultimate parent of the acquirer.

     

    5.4.3 Notwithstanding
      any other provisions hereof, this Agreement may be terminated at any time within
      the twelve (12)
      months
      following a Change of Control:

     

    5.4.3.1  by
      the
      Employee, for Good Reason, on giving sixty (60) days notice in writing to the
      Employer and the Employer may waive the notice in whole or in part;
      or

     

    5.4.3.2  by
      the
      Employer without cause and without notice.

     

    5.4.4 Upon
      termination of the Agreement within twelve months following a Change of Control
      either by the Employee for Good Reason as provided for in 5.4.2. above or by
      the
      Employer without cause as provided for in 5.4.1 above, the Employee is entitled
      to the following severance:

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    5.4.4.1  twelve
      (12) months salary inclusive of any bonus payable for the twelve (12) month
      period;

     

    5.4.4.2  continuation
      for twelve (12) months of all Benefits except for those detailed in the
      paragraph below;

     

    5.4.4.3  immediate
      vesting of all stock options granted to the Employee; and

     

    5.4.4.4  an
      extension of the Employer's stock option exercise period from ninety (90) days
      to twelve (12) months. 

     

    5.4.5 The
      severance includes the value of any bonus which may be payable but excludes
      the
      value of benefits otherwise received, that is, parking; pension matching; car
      allowance and business expenses; additional benefits of Section 3.7; any accrued
      vacation pay; out placement and relocation assistance from the Employer.

     

    5.4.6 If
      the
      termination does occur as described in 5.4.1 or 5.4.2, each of the salary,
      bonus
      and benefits (“Benefits”) given to the Employee shall be equal to at least a
      minimum of what they were for the year immediately prior to the Change of
      Control.

     

    	5.5  	
            Termination
              of the Employee for Disability

          

     

    If
      the
      Employee suffers from any mental or physical disability or illness which results
      in the Employee being unable to substantially perform his duties for a
      continuous ninety (90)
      day
      period
      or for
      periods aggregating one hundred and twenty days in any period of three hundred
      and sixty five days, the Employer may terminate this Agreement upon giving
      the
      Employee sixty days notice in writing and shall pay to the Employee six months'
      salary, the value of benefits otherwise received over the same period and any
      accrued vacation pay as full and final settlement to the Employee.

     

    	5.6  	
            Survival
              of Agreement

          

     

    Notwithstanding
      the termination of the Employee's employment or the termination of this
      Agreement for any reason, Sections 2.12, 7.5 and Article 5 and Article 6 of
      this
      Agreement shall not be deemed to have been terminated and shall continue in
      full
      force and effect.

     

    	5.7  	
            Subsidiaries

          

     

    For
      the
      purposes of this Agreement, employment by a corporation or other entity that
      is
      controlled directly or indirectly by the Employer will be deemed to be
      employment by the Employer. Thus, references in this Agreement to “Employer”
include such corporations, subsidiaries, affiliates or other entities where
      appropriate in context.

     

    	5.8  	
            Effect
              of Termination

          

     

    Upon
      termination of this Agreement, howsoever terminated, the Employee shall be
      entitled to receive compensation for services provided under this Agreement
      ("Earned
      Compensation"),
      up to
      and including the date of termination. However, termination of this Agreement
      shall not accelerate the payment date of any monies accrued or accruing to
      the
      Employee as a result of any Earned Compensation, or other compensation, if
      any,
      nor shall termination vest in the Employee any right in connection
      therewith
      unless
      otherwise stipulated herein.

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    In
      the
      event of termination of this Agreement for any reason provided in Section
5.2,
      5.3
      or
5.4,
      all
      rights and obligations of the Employer and the Employee shall cease to exist
      immediately, except that the Employee's and Employer's obligations under
      Sections 2.12, 7.5 and Article 5 and Article 6 hereof shall survive such
      termination.

     

     

    ARTICLE
      6.  CONFIDENTIAL
      INFORMATION
      AND SOLICITATION

     

    	6.1  	
            Confidential
              Information

          

     

    The
      Employee shall not, either during the term of his Employment and for a period
      of
      five years thereafter, disclose or cause to be disclosed, to any person, unless
      required by law, any secrets or Confidential Information, as defined in Schedule
      "B" hereto, concerning the business or affairs or financial position of the
      Employer or any company with which the Employer is or may hereafter be
      affiliated. This Agreement is governed by the confidentiality provisions as
      set
      forth in Schedule "B". PROVIDED it is agreed by the Employer that the Employee
      shall have the sole discretion to decide how to manage any Confidential
      Information and Intellectual Property Rights as between the Employer and the
      University of Alberta given that he is employed by both simultaneously as long
      as he uses reasonable practices which are consistent with practices of similar
      companies.

     

    	6.2  	
            Non-Solicitation

          

     

    6.2.1  In
      this
      Section 6.2, in the context of any action taken by the Employee, the words
      "directly
      or indirectly"
      include
      any action:

     

    6.2.1.1  taken
      by
      the Employee, for the Employee's own benefit, as the case may be; 

     

    6.2.1.2  taken
      by
      an "Associate"
      or an
      "Affiliate"
      (as
      each term is defined in the Securities
      Act (Alberta))
      of the Employee for the benefit of such Associate or Affiliate and/or the
      Employee; or 

     

    6.2.1.3  otherwise
      taken for the benefit of any person competing with the business of the Employer,
      whether carried out directly by the Employer, or indirectly by any Associate,
      any Affiliate, any joint venture partner or any agent (the "Business"),
      by
      the Employee, whether taken individually or in partnership or jointly or in
      conjunction with any person as principal, agent, consultant, partner, trustee,
      director, officer, employee or shareholder of that person (other than a holding
      of shares listed on a Canadian or United States stock exchange that does not
      exceed 5% of the outstanding shares so listed).

     

    6.2.2
      At
      any
      time during a period of one (1) year from the Employee ceasing to be employed
      by
      the Employer for any reason whatsoever (the "Restricted
      Period"),
      the
      Employee shall not, without the prior written consent of the Employer (which
      consent may be withheld by the Employer in its absolute and unfettered
      discretion), directly or indirectly, alone or in concert or in any manner
      whatsoever solicit or endeavor to solicit, or induce or endeavor to induce,
      any
      employee of the Business to leave his or her employment with the Employer or
      any
      Affiliate of the Employer.

     

     

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    ARTICLE
      7.  GENERAL

     

    	7.1  	
            Further
              Acts

          

     

    Each
      of
      the parties to this Agreement shall, at the request and expense of the other
      party, execute and deliver any further documents and do all acts and things
      as
      that party may reasonably require to carry out the true intent and meaning
      of
      this Agreement.

     

    	7.2  	
            Time

          

     

    Time
      is
      of the essence of this Agreement.

     

    	7.3  	
            Parties
              of Interest

          

     

    This
      Agreement enures to the benefit of and is binding upon the Employer and the
      Employee and upon their administrators, legal representative, executor,
      successors and permitted assigns as applicable.

     

    	7.4  	
            Assignment

          

     

    This
      Agreement may not be assigned or transferred in any manner by the
      Employee.

     

    	7.5  	
            Employer's
              Property

          

     

    The
      Employee acknowledges that all items of any and every nature or kind created
      or
      used by the Employee pursuant to the Employee's employment under this Agreement,
      or furnished by the Employer to the Employee, and all equipment, automobiles,
      credit cards, books, records, reports, files, manuals, literature, Confidential
      Information
      or other
      materials shall remain and be considered the exclusive property of the Employer
      at all times and shall be surrendered to the Employer, in good condition,
      promptly on the cessation or termination of the Employee's employment
      irrespective of the time, manner or cause of the termination.

     

     

    ARTICLE
      8.  NOTICE

     

    	8.1  	
            Manner
              of Delivery

          

     

    All
      notices given under this Agreement shall be deemed to have been duly given
      only
      if personally delivered, mailed by prepaid registered mail, sent by facsimile
      or
      by electronic mail in portable document format ("PDF")
      addressed as follows:

     

    TO
      THE
      EMPLOYER:

     

    ViRexx
      Medical Corp.

    8223
      Roper Road, NW

    Edmonton,
      Alberta T6E 6S4

     

    TO
      THE
      EMPLOYEE:

    

    ____________________

    ____________________

    ____________________

     

     

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

     

     

    	8.2  	
            When
              Notices Deemed Delivered

          

     

    Any
      notice personally delivered in the manner set out in Section 8.1 shall be deemed
      given when personally delivered or upon receipt of confirmation of delivery
      of
      facsimile or electronic mail and any notice mailed in the manner set out in
      Section 8.1 shall be deemed to have been received on the fifth regular business
      day next following the date of posting.

     

    	8.3  	
            Disruption
              of Mail Service

          

     

    In
      the
      event of disruption, or threatened disruption, of regular mail service, all
      notices shall be deemed to have been duly given only if personally delivered,
      sent by facsimile or electronic mail.

     

    	8.4  	
            Change
              of Address

          

     

    Any
      party
      may change his address for notice by giving a notice to that effect pursuant
      to
      this Article 8.

     

    IN
      WITNESS WHEREOF this Agreement has been made effective as on the day and year
      first written above.

     

    
      	 	
              VIREXX
                MEDICAL CORP.

            
	 	
              Per:

            	 
	 	
              Per:

            	 
	 	 	 
	
              SIGNED,
                SEALED AND DELIVERED in the presence of:

            	
              )

              )

              )

              )

            	 
	
              WITNESS

            	 	
              [____________________]

            

    

    

     

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    SCHEDULE
      "A"

     

    POSITION
      PROFILE

     

    Reporting
      to the President and the Chief Operating Officer, the Senior Vice President
      of
      Operations will be responsible for overseeing the _______________ Division
      of
      ViRexx Medical Corp including but not limited to the following
      duties.

     

    	·  	
            Oversee
              all aspects of the _______________ Division including the management
              of
              Oncology staff. 

          

     

    	·  	
            Focus
              on achieving regulatory and marketing approval of the Occlusin® 500 Device
              for the treatment of hypervascular tumors and the treatment of uterine
              fibroids. This will involve completing preclinical testing of the product
              in an animal model, GMP manufacturing of the material, identification
              and
              scale-up of a manufacturing process suitable for commercialization
              and
              completing clinical testing of the
              product.

          

     

    	·  	
            Assist
              in the operations of ViRexx by overseeing the maintenance and security
              of
              the building, and liaise with insurance brokers to maintain adequate
              general, clinical and D&O insurance. 

          

     

    	·  	
            Assist
              the Chief Executive Officer and the Chief Financial Officer in their
              Investor Relations activities by being a backup for the Chief Executive
              Officer from a "science" perspective if scheduling conflicts exist.
              

          

     

    	·  	
            Assist
              the Vice President of Clinical/Regulatory in drafting presenting
              regulatory documents by providing required documentation, reviewing
              document packages, and giving presentations to regulatory bodies as
              part
              of pre-IDE, pre-CTA, IDE and CTA
              meetings.

          

     

    	·  	
            Assist
              in managing the intellectual property for ViRexx and specifically the
              Intellectual Property for the T-ACT
              Platform.

          

     

    	·  	
            Be
              an active member of the Intellectual Property committee by assisting
              in
              the management of ViRexx's Intellectual Property portfolio.
              

          

     

    	·  	
            Liaise
              directly with patent attorneys and examiners regarding the T-ACT®
              technology including the Occlusin® products.

          

     

    	·  	
            Assist
              in preparing and submitting the necessary documentation to forward
              the
              T-ACT® Intellectual Property.

          

     

    	·  	
            Assist
              in disseminating communications within and external to
              ViRexx.

          

     

     

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

     

    	·  	
            Be
              an active member of ViRexx's communications committee by assisting
              in
              drafting and reviewing communications within and outside
              ViRexx.

          

     

    	·  	
            Plan
              and implement budgets to support activities in the Oncology Division
              keeping in mind that ViRexx needs to operate under tight fiscal
              constraints until the first commercial income
              arrives.

          

     

    	·  	
            Assist
              in the identification and development of new products.
              

          

     

    	·  	
            Travel
              on behalf of ViRexx to support development and commercialization of
              products. Travel involves meeting with Contract Manufacturers; attending
              business development meetings; and attending the Society of Interventional
              Radiology meeting to gather business intelligence on competing products
              and improvements to our product
              candidates.

          

     

    

     

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

    SCHEDULE
      "B"

     

    EMPLOYEE
      CONFIDENTIALITY AGREEMENT

     

    THIS
      AGREEMENT made as at the 1st
      day of
January, 2007
      (hereinafter referred to as the "Agreement").

     

    BETWEEN:

     

    VIREXX
      MEDICAL CORP.

    a
      corporation amalgamated pursuant to the

    laws
      of
      Canada

    

    (hereinafter
      referred to as "ViRexx")

    

    OF
      THE
      FIRST PART

    

    -
      and
      -

    

    

    [____________________]

    of
      the
      City of Spruce Grove

    in
      the
      Province of Alberta

    

    (hereinafter
      referred to as the "Employee")

    

    OF
      THE
      SECOND PART

    

     

    WHEREAS:

     

    	A.  	
            the
              Employee is presently employed, or is about to be employed pursuant
              to an
              Employment Agreement ("Employment
              Agreement")
              dated concurrently herewith, by ViRexx in a position of confidence
              and
              trust and under conditions where he has or may have access to technical,
              confidential and secret information regarding existing or contemplated
              business of ViRexx;

          

     

    	B.  	
            the
              Employee recognizes that as a part of the duties of his employment,
              certain ideas and suggestions of interest to ViRexx, conceived or made
              by
              the Employee while he is retained or employed by ViRexx shall be
              immediately made available to and become the property of ViRexx without
              any further consideration;

          

     

    	C.  	
            ViRexx
              desires to receive from the Employee specific covenants relating to
              the
              non-disclosure of confidential information and ownership of Intellectual
              Property, and the employment contract with the Employee is conditional
              on
              ViRexx receiving these covenants.

          

     

     

    
      
         

      

      
        15

        
          

        

      

      
         

      

    

     

    THEREFORE
      IN CONSIDERATION
      of the
      premises set forth and the remuneration paid by ViRexx to the Employee, the
      parties agree as follows:

     

            1. Definition
      of Confidential Information

     

    1.1 For
      purposes of this Agreement, the term "Confidential
      Information",
      shall
      mean all information, whether or not reduced to writing and whether or not
      patentable or protected by copyright, which the Employee receives, received
      access to, conceived or developed, in whole or in part, directly or indirectly,
      in connection with the Employee's relationship with ViRexx, and includes, but
      is
      not limited to:

     

    	(i)  	
            information
              concerning bioinformatics, medinformatics and cheminformatics software,
              databases and services, including but not limited to, source codes,
              object
              codes, flowcharts and programs and other materials whatsoever (tangible
              or
              intangible and machine readable or human
              readable);

          

     

    	(ii)  	
            information
              concerning products and services provided to the global community to
              bridge the gap between biology in
              vitro
              (in the test tube) and biology in
              silico
              (in the computer);

          

     

    	(iii)  	
            information
              concerning the handling and analysis of DNA and protein sequence
              data;

          

     

    	(iv)  	
            information
              concerning drug development and development processes, including but
              not
              limited to, designing optimal drug molecules for treating
              diseases;

          

     

    	(v)  	
            information
              concerning pre-clinical, analytical and formulation
              services;

          

     

    	(vi)  	
            technology
              developed for high throughput screening of new chemical entities or
              drug
              levels;

          

     

    	(vii)  	
            discoveries
              relating to, and developments of, patented in-house
              formulations;

          

     

    	(viii)  	
            information
              concerning research, development and commercialization of vaccines
              and
              antibodies for preventative or therapeutic use including, without
              restriction, those based upon peptide-synthetic carrier protection
              vaccine
              formulations for infectious disease;

          

     

    	(ix)  	
            formulations,
              including but not limited to, the development of new formulations for
              existing drugs, assessments of current formulations and the development
              of
              strategies for formulations of new drug chemical entities
              (NCE);

          

     

    	(x)  	
            information,
              drugs, delivery systems, devices or models under a patent, or potential
              or
              pending patent, whether or not such a patent is in fact obtained or
              expires;

          

     

    	(xi)  	
            test
              results, clinical studies, clinical trial results, and all research
              whatsoever;

          

     

     

    
      
         

      

      
        16

        
          

        

      

      
         

      

    

     

    	(xii)  	
            products
              and devices developed, patents, discoveries, concepts, compilations
              and
              ideas of any nature whatsoever including, without limitation, the nature
              and results of research and development activities, the software,
              molecular and analytical tools to facilitate research in the fields
              of
              biology, medicine and pharmaceutical science, and processes, formulas,
              inventions, technology, techniques, computer programs and models, designs,
              drawings, and specifications;

          

     

    	(xiii)  	
            production
              processes, marketing techniques and arrangements, marketing materials,
              promotions, demos and publications, mailing lists, purchasing information,
              pricing policies, quoting procedures, financial information, customer
              and
              prospect names and requirements, Employee, customer, supplier and
              distributor data and other materials or information relating to ViRexx's
              business and activities and the manner in which ViRexx does business,
              including but not limited to the names of drug firms, biotechnology
              firms,
              contact research organizations (CRO), generic drug manufacturers,
              pharmaceutical companies, pre-clinical clients, principal investigators
              and alliances with whom ViRexx has or may have a business relationship
              with, 

          

     

    	(xiv)  	
            any
              other materials or information related to, or that is or may be used
              in,
              the business, trade or activities of ViRexx
              which:

          

     

    	(a)  	
            are
              not generally known to others engaged in similar business or activities;
              

          

     

    	(b)  	
            has
              an economic value from not being generally known;
              and

          

     

    	(c)  	
            is
              the subject of efforts that are reasonable in the circumstances to
              maintain its secrecy; and

          

     

    	(xv)  	
            any
              financial information or information relating to the day to day business
              of ViRexx.

          

     

    1.2 For
      the
      purposes of this Agreement the term “Intellectual
      Property”
shall
      mean all copyrights, registered and unregistered trademarks, trade names, logos,
      licenses, patent and patent applications, including continuations and
      continuations in part, trade secrets, computer software, know-how and all other
      intellectual property which the Employee creates, invents or of which he becomes
      aware as a result of his employment with ViRexx.

     

    1.3  Failure
      to mark any of the Confidential Information as confidential, proprietary or
      protected shall not affect its status as part of the Confidential Information
      under the terms of this Agreement.

     

    1.4 For
      purposes of this Agreement, the term "Confidential
      Information"
      shall
      not include information which:

     

    
      	 	
              (i)

            	
              has
                been in the possession of the Employee prior to the date of the
                commencement of the Employee's employment with ViRexx including,
                without
                limitation, information pertaining to the matters set out in Section
                1.1,
                if any;

            

    

     

    
      
         

      

      
        17

        
          

        

      

      
         

      

    

     

    
      	 	
              (ii)

            	
              has
                been publicly available prior to coming into the possession of
                ViRexx;

            

    

     

    
      	 	
              (iii)

            	
              becomes
                publicly available without a breach by the Employee of: i) this Agreement;
                ii) any other agreement between the Employee and ViRexx; or iii)
                any
                lawful duty owed by the Employee to
                ViRexx;

            

    

     

    
      	 	
              (iv)

            	
              has
                been supplied to the Employee by a third party who is under no obligation
                to ViRexx.

            

    

     

    The
      information described in paragraphs 1.3(i) and (iv) above is hereinafter called
      the "Employee
      Information".

     

    2.   Treatment
      of Information

     

    2.1 The
      Employee acknowledges that in his position, or in any other position the
      Employee may hold, in and as a result of the Employee's relationship with
      ViRexx, the Employee shall, or may be making use of, acquiring or adding to
      Confidential Information about certain matters and things which are confidential
      to ViRexx and which information is the exclusive property of
      ViRexx.

     

    2.2 As
      a
      material inducement for ViRexx to retain the services of the Employee, the
      Employee agrees that during his term as an Employee with ViRexx, and for a
      term
      of five (5) years following the date of expiry or termination of the Employment
      Agreement or expiry or termination of any extension or renewal thereof, the
      Employee shall not, except with the prior written consent of ViRexx, which
      consent may be arbitrarily withheld, or except if the Employee is acting in
      the
      course of his duties on behalf and for the benefit of ViRexx in connection
      with
      ViRexx's business practices and policies, directly or indirectly, disclose,
      divulge, reveal, report, publish, transfer or use for any purpose, or cause
      to
      be disclosed, divulged, revealed, reported, published, transferred or used
      for
      any purpose, the Confidential Information which has been obtained, created,
      learned or disclosed by, or to, the Employee.

     

    2.3 Disclosure
      of any Confidential Information of ViRexx by the Employee shall not be
      prohibited if the disclosure is directly pursuant to a valid and existing order
      of a governing court or other governmental body or agency within Canada;
      provided, however that:

     

    
      	 	
              (i)

            	
              the
                Employee shall first provide immediate written notice to ViRexx of
                any
                possible or prospective order, or proceeding pursuant to which any
                order
                may result; and

            

    

     

    
      	 	
              (ii)

            	
              ViRexx
                shall have been afforded a reasonable opportunity to prevent or limit
                any
                disclosure.

            

    

     

    3.   Ownership
      of ViRexx Intellectual Property and Confidential
      Information

     

    3.1 The
      Employee agrees that all right, title and interest in any Confidential
      Information and any Intellectual Property shall
      be
      and shall remain the exclusive property of ViRexx.

     

    
      
         

      

      
        18

        
          

        

      

      
         

      

    

    3.2 The
      Employee agrees immediately to disclose in writing to ViRexx all Confidential
      Information and any Intellectual Property pertaining to the business of ViRexx
      developed in whole or in part by the Employee during the term of the Employee's
      relationship with ViRexx and does hereby assign to ViRexx, any right, title
      or
      interest the Employee may have in the Confidential Information
      and the
      Intellectual Property.
      The
      Employee agrees to execute any instruments and to do all other things reasonably
      requested by ViRexx, in order to vest more fully in ViRexx, all ownership rights
      in the
      Confidential
      Information and Intellectual Property.

     

    3.3 All
      Intellectual
      Property
      and
      all
      Confidential Information
      shall
      belong exclusively to ViRexx and the Employee does hereby transfer any interest
      he may have in it and agrees to turn it over to ViRexx including but not limited
      to all originals and all copies of any
      materials, tapes, notes, data
      reference items, sketches, drawings, memoranda, hardware,
      software,
      disks,
      records, inventions, technology,
      all
      Intellectual Property and all Confidential Information,
      in, or
      that at any time whatsoever were in, the Employee's possession, power or
      control, at the request of ViRexx, or in the absence of a request, on the
      termination of the Employee's relationship with ViRexx, howsoever the Employee's
      termination occurs, including but not limited to, the Employee's retirement
      or
      death.

     

    4. Injunctive
      Relief

     

    4.1 The
      Employee understands and agrees that ViRexx shall suffer irreparable harm in
      the
      event that the Employee breaches any of the Employee's obligations under this
      Agreement and that monetary damages shall be inadequate to compensate ViRexx
      for
      the breach. Accordingly the Employee agrees that, in the event of a breach
      or
      threatened or potential breach by the Employee of any of the provisions of
      this
      Agreement, ViRexx, in addition to and not in limitation of any other rights,
      remedies or damages available to ViRexx at law or in equity, shall be entitled
      to an interim injunction, interlocutory injunction, and permanent injunction,
      in
      order to prevent or to restrain any such breach by the Employee, or by any
      or
      all of the Employee's partners, co-venturers, ViRexx's servants, agents,
      representatives and any and all persons directly or indirectly acting for,
      on
      behalf of, or with the Employee.

     

    5. Accounting
      for Profits and Indemnification

     

    5.1 The
      Employee agrees that if the Employee shall violate any of the Employee's
      covenants under this Agreement, ViRexx shall be entitled to an accounting and
      repayment of all profits, compensation, royalties, commissions, remunerations
      or
      benefits which the Employee directly or indirectly shall have realized or may
      realize relating to, growing out of, or in connection with any violations of
      this Agreement. This remedy shall be in addition to and not in limitation of
      any
      injunctive relief at law or in equity or otherwise under this
      Agreement.

     

    5.2 The
      Employee agrees to defend, hold harmless and indemnify ViRexx against and in
      respect of:

     

    
      	 	
              (i)

            	
              any
                and all losses and damages resulting from, relating or incident to,
                or
                arising out of any misrepresentation or breach by the Employee of
                any
                warranty or covenant made or contained in this
                Agreement;

            

    

     

    
      
         

      

      
        19

        
          

        

      

      
         

      

    

    
      	 	
              (ii)

            	
              any
                and all actions, suits, proceedings, claims demands, judgments, costs,
                and
                expenses (including all legal fees, on a solicitor and his own client
                basis), incident to the foregoing.

            

    

     

    6.   Severability

     

    6.1 In
      the
      event that any provision or part of any provision of this Agreement shall be
      deemed to be void or invalid by a court of competent jurisdiction, the remaining
      provisions or parts shall be and remain in full force and effect. The Employee
      agrees that the breach or alleged breach by ViRexx of:

     

    
      	 	
              (i)

            	
              any
                covenant contained in another agreement (if any) between ViRexx and
                the
                Employee or;

            

    

     

    
      	 	
              (ii)

            	
              any
                obligation owed to the Employee by
                ViRexx;

            

    

     

    shall
      not
      affect the validity or enforceability of the covenants and agreements of the
      Employee set forth in this Agreement.

     

    7.   No
      Prior Agreements

     

    7.1 The
      Employee represents to the best of the Employee's knowledge that the Employee's
      performance of all the terms of this Agreement do not and shall not breach
      any
      fiduciary or other duty or any covenant, agreement or understanding (including
      any agreement relating to any proprietary information, knowledge or data
      acquired by the Employee in confidence, trust or otherwise prior to the
      Employee's employment by ViRexx) to which the Employee is a party or by the
      terms of which the Employee may be bound. The Employee covenants and agrees
      that
      the Employee shall not disclose to ViRexx, or induce ViRexx to use any
      proprietary information, knowledge or data belonging to any previous employer
      or
      others. The Employee further covenants and agrees not to enter into any
      agreement or understanding, either written or oral, in conflict with the
      provisions of this Agreement.

     

    8. Employee's
      Status

     

    8.1 Nothing
      in this Agreement shall be construed as constituting a commitment, guarantee,
      agreement or understanding of any kind or nature that ViRexx shall continue
      to
      employ the Employee. No change of the Employee's duties as an Employee of ViRexx
      shall result in, or be deemed to be, a modification of the terms of this
      Agreement.

     

    9. Successors

     

    9.1 This
      Agreement shall be binding on and shall enure to the benefit of ViRexx and
      the
      Employee, and their respective heirs, personal and legal representatives,
      successors and assigns. As used in this Agreement, the term "ViRexx"
      shall
      also include any corporation or entity which is a parent, subsidiary, or
      affiliate of ViRexx. The Employee consents to the enforcement of any and all
      provisions of this Agreement by or for the benefit of ViRexx as to any other
      corporation or entity regarding any of the Confidential
      Information.

     

    
      
         

      

      
        20

        
          

        

      

      
         

      

    

    10. Governing
      Law

     

    10.1 This
      Agreement shall at all times and in all respects be governed by the laws of
      the
      Province of Alberta and all parties hereto shall irrevocably attorn to the
      courts of competent jurisdiction of the Province of Alberta.

     

    11. Notices

     

    11.1 Any
      notice required or permitted to be given to the Employee shall be sufficiently
      given if delivered to the Employee personally or if mailed by prepaid registered
      mail, sent by facsimile or by electronic mail in portable document format
      ("PDF")
      to the
      Employee's address last known to ViRexx.

     

    11.2 Any
      notice required or permitted to be given to ViRexx shall be sufficiently given
      if delivered personally or if mailed by prepaid registered mail to:

     

    8223
      Roper Road, NW

    Edmonton,
      Alberta

    T6E
      6S4 

    

    or
      at
      such other address as the Employer may advise the Employee in
      writing.

     

    11.3 Any
      notice personally delivered in the manner set out in this Section 11 shall
      be
      deemed given when personally delivered or upon receipt of confirmation of
      delivery of facsimile or electronic mail and any notice mailed in the manner
      set
      out in Section 11 shall be deemed to have been received on the fifth regular
      business day next following the date of posting.

     

    11.4 Either
      one of the parties may advise the other, in the manner aforesaid, of any change
      of address for the giving of notices.

     

    12. Entire
      Agreement

     

    12.1 
      It is
      acknowledged that the parties are parties to an employment agreement to which
      this agreement is attached as Schedule "B". This Agreement and the employment
      agreement along with any future agreement respecting options or warrants contain
      the entire agreements and understandings by and between ViRexx and the Employee
      with respect to the subject matter, and no representations, promises, agreements
      or understandings, written or oral, express or implied shall be valid or binding
      unless the same is in writing and signed by the party intended to be bound.
      No
      waiver of any provision of this Agreement shall be valid unless it is in writing
      and signed by the party against whom the waiver is sought to be enforced;
      moreover, no valid waiver of any provision of this Agreement shall be deemed
      a
      waiver of any other provision of this Agreement at the time or shall be deemed
      a
      valid waiver of the provision at any other time.

     

    13. Assignment

     

    13.1 This
      Agreement is assignable by ViRexx without the prior consent of the
      Employee.

     

    
      
         

      

      
        21

        
          

        

      

      
         

      

    

    13.2 As
      this
      Agreement is personal in nature with respect to the Employee, it is not
      assignable by the Employee under any circumstance.

     

    14. Gender

     

    14.1 Whenever
      the singular is used, it shall be deemed to extend to and include the plural.
      Where one gender is used, it shall include all genders.

     

    15. Headings

     

    15.1 The
      headings and other captions in this Agreement are for convenience and reference
      only and are not to be construed in any way as additions or limitations of
      the
      covenants and agreements contained in this Agreement.

     

    16. Effective
      Date

     

    16.1 This
      Agreement is effective as of the date and year first above mentioned and
      indicated herein.

     

    IN
      WITNESS WHEREOF, ViRexx and the Employee have duly executed this Agreement,
      where applicable by their respective corporate officers hereunto duly
      authorized.

     

    

    
      	 	
              VIREXX
                MEDICAL CORP.

            
	 	
              Per:

            	 
	 	
              Per:

            	 

    

    

     

    
      	
              SIGNED,
                SEALED AND DELIVERED in the presence of:

            	
              )

              )

              )

              )

            	 
	
              WITNESS

            	 	
              [___________________]

            

    

    

    
      
         

      

      
        22

        
          

        

      

      
         

      

    

    

    
      	
              AFFIDAVIT
                OF EXECUTION

            
	 	 	 
	 	 	 
	
              C
                A
                N A D A

               

              PROVINCE
                OF ALBERTA

               

              TO
                WIT:

            	
              )

              )

              )

              )

              )

            	
              I,
                __________________________________,
                of the City of Edmonton, in the Province of
                Alberta,

            
	
               

              MAKE
                OATH AND SAY:

            	 	 

    

    

    1. THAT
      I
      was personally present and did see [___________________]
      named
      in
      the annexed instrument, who is personally known to me to be the person named
      therein, duly sign and execute the same for the purpose named
      therein.

     

    2. THAT
      the
      same was executed at the City of Edmonton in the Province of Alberta, and that
      I
      am the subscribing witness thereto.

     

    3. THAT
      I
      know the said [___________________]
      and
      he is
      in my belief of the full age of eighteen years.

     

    
      	
              SWORN
                BEFORE ME at the City of Edmonton, in the Province of Alberta, this
                _____
                day of ____________________,
                2007.

            	
              )

              )

              )

              )

              )

              )

            	 
	
              A
                COMMISSIONER OF OATHS IN AND

              FOR
                THE PROVINCE OF ALBERTA

            	
              )

              )

            	 

    

    

    

    23

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