Document:

EXHIBIT 10.3

     

    

  

  
    SEPARATION OF EMPLOYMENT AGREEMENT AND GENERAL RELEASE

    

    

    This Agreement sets forth the terms of your separation of employment with Advance Biofactures Corporation (the “Employer”), a wholly-owned subsidiary of BioSpecifics Technologies Corporation (the “Company”). 
      If you understand and agree with these terms, please sign in the space provided below.  If you, the Employer and the Company sign below, this will be a legally binding document representing the entire agreement between you, the Employer and the
      Company regarding the subjects it covers.  We will refer to this document as the “Agreement.”

     

    Termination Date.  Your last day of work with the Company and the Employer was April 6, 2020 (the “Termination
          Date”).

     

    Consideration.  Provided you have timely executed this Agreement (which includes a general release and waiver of
        claims and other promises herein), do not revoke it, and otherwise comply with its terms, the Employer will provide you with the following severance benefits:

     

    Salary Continuation.  A cash payment equal to one (1) times your current annual base salary, payable in installments over a
        period of twelve (12) months following the Termination Date (the “Cash Severance Payments”).  Your Cash Severance Payments will be reduced by any taxes and other amounts that the Employer is legally required to withhold and will be made in
        accordance with the payroll practices of the Employer.  The first payment will be retroactive to the Termination Date.

     

    COBRA Continuation.  Subject to your eligibility for, and timely election of, continued health care coverage under COBRA, the
        Employer will reimburse you in cash an amount equal to one hundred percent (100%) of the COBRA premiums you incur for you, or on behalf of your eligible dependents, under the health plans of the Employer during the twelve (12) month period
        following the Termination Date.  Such reimbursement shall be provided on the payroll date immediately following the date on which you remit the applicable premium payment, and reasonable evidence of such payment; provided, that where such
        remittance makes it impractical to include such reimbursement on the payroll date immediately following such remittance, then such reimbursement shall be provided in the next subsequent payroll date.  Reimbursements under this paragraph shall
        commence within sixty (60) days following the Termination Date, with the first payment including any reimbursements that would have otherwise been payable during the period between the Termination Date and the first reimbursement payment. 
        Reimbursement payments shall be treated as taxable compensation to the extent required by law and shall not be made with respect to any month following the date on which you either become ineligible for COBRA coverage or you become eligible for
        group health insurance coverage in connection with new employment (a “Disqualifying Event”).  You are required to notify the Employer within five (5) business days of becoming aware that a Disqualifying Event has occurred or will occur.  For
        the avoidance of doubt, following the expiration of the Continuation Period, you may continue your health insurance coverage under COBRA at your own expense to the extent permitted under applicable law.  Whether you choose to elect COBRA coverage
        continuation is your choice, and you are encouraged to consider all of your benefits options before making any decision, as this may impact your ability to later obtain alternative coverage outside of open enrollment periods.

     

    
      
        

    

    
    Release of Claims.  In exchange for the payment(s) described in the Consideration clause above, you hereby waive
        all claims available under federal, state or local law against the Company and the Employer and the directors, officers, employees, employee benefit plans and agents of the Company and the Employer arising out of your employment with the Employer
        and service with the Company or the termination of that employment and service, including but not limited to all claims arising under the Age Discrimination in Employment Act (29 U.S.C. Section 621, et seq.) (“ADEA”), the Older Workers’ Benefits
        Protection Act, Title VII of the Civil Rights Act of 1964 the Employee Retirement Income Security Act of 1974, the Equal Pay Act of 1963, the Americans with Disabilities Act of 1990, the Family and Medical Leave Act of 1993, the Worker Adjustment
        and Retraining Notification Act of 1989, the Delaware Discrimination in Employment Act, the Delaware Handicapped Persons Employment Protection Act, the Delaware Persons With Disabilities Employment Protections Act, the Delaware Whistleblower’s Act,
        the Delaware Wage Payment and Collection Act, the Delaware Fair Employment Practices Act, and the Delaware Constitution, all as amended, provided, however, that nothing in this agreement shall be construed as a requirement for or condition to any
        payment due under the Wage Payment and Collection Act, the New York State Executive Law (including its Human Rights Law), the New York Equal Pay Law, the New York Equal Rights Law, the New York Off-Duty Conduct Lawful Activities Discrimination Law,
        the New York State Labor Relations Act, the New York Whistleblower Statute, the New York Family Leave Law, the New York Wage and Hour Laws, the New York WARN Laws, the New York Civil Rights Law, the New York State Corrections Law, the retaliation
        provisions of the New York State Workers’ Compensation Law, the New York State False Claims Act, the New York State Rights of Persons with Disabilities Law, the New York State Nondiscrimination Against Genetic Disorders Law, the New York State
        Smokers’ Rights Law, the New York AIDS Testing Confidentiality Act, the New York Genetic Testing Confidentiality Law, the New York Discrimination by Employment Agencies Law, the New York Bone Marrow Leave Law, the New York Adoptive Parents Child
        Care Leave Law, and the New York State Constitution, all as amended, as well as wrongful termination claims, breach of contract claims, discrimination claims, harassment claims, retaliation claims, whistleblower claims (to the fullest extent they
        may be released under applicable law), defamation or other tort claims, and claims for attorneys’ fees and costs.  You are not waiving your right to vested benefits under the written terms of the retirement plan, claims for unemployment or workers’
        compensation benefits, any medical claim incurred during your employment that is payable under applicable medical plans or an employer-insured liability plan, claims arising after the date on which you sign this Agreement, or claims that are not
        otherwise waivable under applicable law. You represent that you have not made any claim or allegation related to unlawful discrimination, harassment, retaliation or sexual abuse, and none of the payments set forth in this Agreement relate to
        unlawful discrimination, harassment, retaliation or sexual abuse.

     

    Restrictive Covenants.  You represent and agree that you have complied with and will continue to comply with all
        restrictive covenants between you and the Company and any of its affiliates (including without limitation the restrictive covenants set forth in Section 15 of your Employment Agreement dated as of October 8, 2019, a copy of which is attached hereto
        as Exhibit A), for the duration of such covenants, including any non-compete, non-solicit, and non-disparagement provisions, with respect to the Company and its affiliates, to which you are a party.

     

    
      A-2

      
        

    

    Medicare Disclaimer.  You represent that you are not a Medicare beneficiary as of the time you enter into this
        Agreement.  To the extent that you are a Medicare beneficiary, you agree to contact a Human Resources Representative of the Company or the Employer for further instruction.

     

    Limit on Disclosures.  You shall not disclose or cause to be disclosed the terms of this Agreement to any person
        (other than your spouse or domestic/civil union partner, attorney and tax advisor), except pursuant to a lawful subpoena, as set forth in the Reports to Government Entities clause below, or as otherwise
        permitted by law.  This provision is not intended to restrict your legal right to discuss the terms and conditions of your employment.

     

    Reports to Government Entities.  Nothing in this Agreement, including the Limit on Disclosures or Release of
        Claims clause, restricts or prohibits you from initiating communications directly with, responding to any inquiries from, providing testimony before, providing confidential information to, reporting possible violations of law or regulation to, or
        filing a claim or assisting with an investigation directly with a self-regulatory authority or a government agency or entity, including the U.S. Equal Employment Opportunity Commission, the Department of Labor, the National Labor Relations Board,
        the Department of Justice, the Securities and Exchange Commission, Congress, and any agency Inspector General (collectively, the “Regulators”), or from making other disclosures that are protected under the whistleblower provisions of state
        or federal law or regulation.  However, to the maximum extent permitted by law, you are waiving your right to receive any individual monetary relief from the Company, the Employer or any others covered by the Release of Claims resulting from such
        claims or conduct, regardless of whether you or another party has filed them, and in the event you obtain such monetary relief, the Company and Employer will be entitled to an offset for the payments made pursuant to this Agreement.  This Agreement
        does not limit your right to receive an award from any Regulator that provides awards for providing information relating to a potential violation of law.  You do not need the prior authorization of the Company or the Employer to engage in conduct
        protected by this paragraph, and you do not need to notify the Company or the Employer that you have engaged in such conduct.

     

    Please take notice that federal law provides criminal and civil immunity to federal and state claims for trade secret misappropriation to individuals who disclose trade secrets to their attorneys, courts, or government
      officials in certain, confidential circumstances that are set forth at 18 U.S.C. §§ 1833(b)(1) and 1833(b)(2), related to the reporting or investigation of a suspected violation of the law, or in connection with a lawsuit for retaliation for
      reporting a suspected violation of the law.

     

    Nonadmission of Liability.  Nothing in this Agreement is an admission of any wrongdoing, liability or unlawful
        activity by you, the Employer or by the Company.

     

    
      A-3

      
        

    

    No Other Amounts Due.  You acknowledge that the Company or the Employer has paid you all wages, salaries,
        bonuses, benefits and other amounts earned and accrued, less applicable deductions, and that the Company and the Employer have no obligation to pay any additional amounts other than the payment(s) described in the Consideration clause of this
        Agreement.  For the avoidance of doubt, you acknowledge and agree that as of the Termination Date, no portion of your outstanding equity awards under the Biospecifics Technologies Corp. 2019 Omnibus Incentive Compensation Plan have vested, and 100%
        of such awards shall terminate and be forfeited in accordance with their terms.

     

    Signature.  The Company and the Employer hereby advise you to consult with an attorney prior to signing this
        Agreement.  You acknowledge that you have had a reasonable amount of time to consider the terms of this Agreement and you sign it with the intent to be legally bound.  This Agreement may be executed in two counterparts, each of which shall be
        considered one and the same instrument and shall become effective when both counterparts have been signed by each of the parties and delivered to the other party. This Agreement may be executed by facsimile or .pdf signature and a facsimile or .pdf
        signature shall constitute an original for all purposes.

     

    Section 409A.  This Agreement is intended to comply with or be exempt from the requirements of Section 409A of
        the Internal Revenue Code of 1986, as amended (“Section 409A”), and its corresponding regulations with respect to amounts, if any, subject thereto and shall be interpreted, construed and performed consistent with such intent.  Severance
        benefits under this Agreement are intended to be exempt from Section 409A under the “short-term deferral” exception, to the maximum extent applicable, and then under the “separation pay” exception, to the maximum extent applicable.  For purposes of
        Section 409A, each payment hereunder shall be treated as a separate payment, and the right to a series of installment payments under this Agreement shall be treated as a right to a series of separate payments.  In no event may you, directly or
        indirectly, designate the taxable year of a payment.  Notwithstanding the foregoing, the Company and the Employer make no representations that the payments and benefits contemplated under this Agreement are exempt from Section 409A and in no event
        shall the Company or the Employer be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by you on account of non-compliance with the requirements of Section 409A.

     

    Effective Date.  This Agreement will become effective and enforceable on the eighth (8th) day after you sign and
        do not revoke this Agreement (the “Effective Date”).  If you fail to return an executed original by midnight on April 27, 2020, this Agreement, including but not limited to the obligation of the Employer to provide the severance benefits
        provided in the Consideration clause above, shall be deemed automatically null and void.

     

    Entire Agreement.  This Agreement sets forth the entire agreement between you, the Company, and the Employer and
        replaces any other oral or written agreement between you, the Company, and the Employer relating to the subject matter of this Agreement, including, without limitation, any prior offer letters and/or employment agreements, except for your
        continuing obligations under Sections 12, 15, 16, 17, 18, 20, 21, 22, 23, 27, and 28, and the Company’s continuing obligations under Section 25, of the Employment Agreement.

     

    
      A-4

      
        

    

    Acknowledgment of Voluntariness and Time to Review.  You acknowledge that:

     

    	

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            you read this Agreement and you understand it;

          

    	

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            you are signing this Agreement voluntarily in order to release your claims against the Company and the Employer in exchange for payment that is greater than you would otherwise have received;

          

    	

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            you are signing this Agreement after the date of your separation from the Company and the Employer; and you were offered at least twenty-one (21) days to consider your choice to sign this Agreement;

          

    	

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            the Company and the Employer advise you to consult with an attorney;

          

    	

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            you know that you can revoke this Agreement within seven (7) days of signing it and that the Agreement does not become effective until that seven-day period has passed.  To revoke, contact Jenn Chao at ____________; and

          

    	

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            you agree that changes to this Agreement before its execution, whether material or immaterial, do not restart your time to review this Agreement.

          

    

    

    	
            Employee: /s/ J. Kevin Buchi

          	
            Date: April 6, 2020

          
	 	 
	
            Employer: /s/ Jennifer Chao

          	
            Date: April 6, 2020

          
	
            Name: Jennifer Chao

          	 
	
            Title: Attorney-in-Fact

          	 
	 	 
	
            Company: /s/ Jennifer Chao

          	
            Date: April 6, 2020

          
	
            Name: Jennifer Chao

          	 
	
            Title: Chairperson of the Board of Directors

          	 

    

    

    

    

    A-5EXHIBIT 10.4

     

    April 1, 2020

     

    BY EMAIL AND OVERNIGHT MAIL

     

    	
            Joseph E. Truitt

          
	
            

            

          	 
	
            

            

          	 

    

    

    Dear Joe:

     

    On behalf of BioSpecifics Technologies Corp. (“BioSpecifics” or the “Company”), I am pleased to offer you employment with the Company on the terms and subject to the
      conditions set forth in this letter agreement (the “Agreement”), including satisfactory references, a background check, and submission of satisfactory proof of your identity and your legal authorization to work in the United States:

     

    	
            Position:

          	
            Interim Chief Executive Officer (“Interim CEO”)

          
	 	 
	
            Reporting to:

          	
            Board of Directors

          
	 	 
	
            Start Date:

          	
            April 7, 2020

          
	 	 
	
            Location:

          	
            It is expected that you will work primarily out of the Company’s office in Wilmington, DE, subject to working remotely during any mandated period, and you may be
              required to travel as part of your position.

          
	 	 
	
            Term:

          	
            From the Start Date, your position as Interim CEO shall continue until the earlier of (a) three (3) months after the Start Date; and (b) the date on which a
              permanent Chief Executive Officer commences employment with the Company (the “Interim Term”).  Notwithstanding the foregoing, your employment is “at will,” and may be terminated by you or the Company at any time with or without cause and with
              or without advance notice.  We ask, however, that you provide the Company with as much advance written notice as possible in the event that you intend to resign your employment.

          
	 	 
	
            Board Service:

          	
            While you serve as Interim CEO, you will also serve on the Company’s Board of Directors (the “Board”) as an Executive Director.  During this period you will not
              receive any additional compensation for your service on the Board.

          
	 	 
	 	
            In the event that, following your service as Interim CEO, you remain on the Board as an independent non-executive director, you shall be eligible to earn equity and
              cash compensation as earned by similarly situated members of the Board and in accordance with the Company’s Board compensation practices.

          

    

    

    
      
        

      
        	
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            Compensation:

          	
            For your service as Interim CEO, the Company shall pay you the total amount of Two Hundred Fifty Thousand Dollars and No Cents ($250,000.00) (the “Total Interim CEO
              Compensation”), which shall be paid at the rate of Eighty Three Thousand Thirty-Three Dollars and Thirty-Three Cents ($83,333.33) for each of the three (3) months in which you serve as Interim CEO. Your position is classified as exempt from
              overtime.  You will be paid in regular periodic payments, less applicable deductions and withholdings, in accordance with the Company’s regular payroll practices.

          
	 	 
	
            Representations and Contingencies:

          	
            This offer is contingent on your representation that you are free to accept employment with BioSpecifics without any contractual restrictions, express or implied,
              of any kind (including, without limitation, any confidentiality, non-competition agreement or any other similar type of restriction that may affect your ability to devote full time and attention to your work at the Company).

          
	 	 
	 	
            This offer is also conditioned on you not having been, and by signing below you represent and warrant that you have not been, debarred or received notice of any
              action or threat with respect to debarment under the provisions of the Generic Drug Enforcement Act of 1992, 21 U.S.C. § 335(a) or any similar legislation applicable in the U.S. or in any other country where the Company intends to develop its
              activities.

          
	 	 
	 	
            This offer is also contingent on your agreement to the Company’s Confidentiality and Inventions Assignment Agreement (the “Confidentiality Agreement”), which you
              will be provided with and required to sign upon commencement of your employment.

          
	 	 
	
            Compliance:

          	
            You are required to familiarize yourself with and adhere to, all Company policies which may be in effect from time to time.  Failure to comply with all such
              policies and procedures shall be grounds for disciplinary action by the Company, up to and including termination of employment.

          
	 	 
	
            Termination Without Cause:

          	
            If the Company terminates your employment without Cause (as defined below) prior to the end of the Interim Term, the Company shall pay you any earned but unpaid
              portion of the Total Interim CEO Compensation through the date of termination, less standard deductions and withholdings.  In addition, if you: (i) furnish to the Company an executed waiver and general release of claims in a form to be
              provided to you by the Company (a “Release”), (ii) allow the Release to become effective in accordance with its terms, and (iii) otherwise comply with the Release, then the Company will pay you the unpaid balance of the Total Interim CEO
              Compensation, less standard deductions and withholdings, through the date that is three (3) months after the Start Date (the “Severance Amount”).

          

    

    

    
    

    
      
        

      
        	
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            “Cause” shall mean the occurrence of any of the following, your: (1) breach of a material term of this letter agreement or any confidentiality or inventions assignment agreement with the Company; (2)
              commission of an act of fraud, embezzlement, theft, or material dishonesty; (3) willful engagement in conduct that causes, or is likely to cause, material damage to the property or reputation of the Company; (4) failure to perform
              satisfactorily the material duties of your position (other than by reason of disability) after receipt of a written warning from the Company; (5) commission of a felony or any crime of moral turpitude; or (6) material failure to comply with
              the Company’s code of conduct or employment policies.

          
	 	 
	
            Other Termination:

          	
            If you resign from employment with the Company at any time or the Company terminates your employment at any time for Cause or due to death or Disability (as defined
              below), the Company shall pay you any earned but unpaid portion of the Total Interim CEO Compensation through the date of such resignation or termination, less standard deductions and withholdings.  The Company shall thereafter have no
              further obligations to you, except as may otherwise be required by law.

          
	 	 
	 	
            “Disability” shall mean your inability to perform your
              duties and responsibilities hereunder, with or without reasonable accommodation, due to any physical or mental illness or incapacity, which condition has continued for a period of one hundred eighty (180) days (including weekends and
              holidays) in any consecutive three hundred sixty-five (365) day period.

          
	 	 
	
            Resignation From all Positions:

          	
            You agree that, effective as of the date of any resignation or termination of your employment, you shall be deemed to have resigned, as of the date of such
              resignation or termination, from all Company-related positions, including as an officer and director of the Company and its parents, subsidiaries and affiliates.

          
	 	 
	
            Section 409A:

          	
            To the extent permitted by Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), any severance to which you are otherwise entitled pursuant to
              this offer letter shall be (i) reduced by amounts outstanding under any indebtedness, obligations or liabilities owed by you to the Company; (ii) paid in lieu of any severance pay or benefits under any other severance pay plan, program, or
              policy of the Company, and (iii) reduced and offset by any severance pay or benefits, or similar amounts, payable to you due to your termination of employment under any labor, social or other governmental plan, program, law or policy, and
              should such other payments or benefits described above be payable, the Severance Amount shall be reduced accordingly or, alternatively, payments of Severance Amounts previously made or provided will be treated as having been paid or provided
              to satisfy such other obligations.

          

    

    

    
      
        

      
        	
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            Each installment payment provided under this letter shall at all times be considered a separate and distinct payment for purposes of Section 409A of the Code.
              Notwithstanding anything in this letter to the contrary, to the extent required to avoid a prohibited distribution under Section 409A of the Code, the benefits provided under this letter will not be provided to you until the earlier of (a)
              the expiration of the six-month period measured from the date of termination of your employment with the Company or (b) the date of your death. Upon the first business day after expiration of the relevant period, all payments delayed pursuant
              to the preceding sentence will be paid in a lump sum and any remaining payments due will be paid as otherwise provided herein. In no event may you, directly or indirectly, designated the calendar year of any payment to be made to you under
              this letter, to the extent such payment is subject to Section 409A of the Code.  The Company makes no representations or warranty and shall have no liability to you or any other person if any provisions of this letter are determined to
              constitute deferred compensation subject to Section 409A of the Code but do not satisfy an exemption from, or the conditions of, Section 409A of the Code.

          
	 	 
	
            Agreement to Arbitrate Claims:

          	
            Except as otherwise set forth in this Agreement in connection with equitable remedies, any dispute, claim or controversy arising out of or relating to this
              Agreement or the Executive’s employment with the Company (collectively, “Disputes”), including, without limitation, any dispute, claim or controversy concerning the validity, enforceability, breach or termination of this Agreement, if not
              resolved by the parties, shall be finally settled by arbitration in accordance with the then-prevailing Employment Arbitration Rules and Procedures of JAMS, as modified herein (“Rules”). Further, the Executive hereby waives any right to bring
              on behalf of persons other than the Executive, or to otherwise participate with other persons in, any class, collective, or representative action (including but not limited to any representative action under any federal, state or local
              statute or ordinance). The requirement to arbitrate covers all Disputes (other than disputes which by statute are not arbitrable) including, but not limited to, claims, demands or actions under the Age Discrimination in Employment Act
              (including the Older Workers Benefit Protection Act); Americans with Disabilities Act; Civil Rights Act of 1866; Civil Rights Act of 1991; Employee Retirement Income Security Act of 1974; Equal Pay Act; Family and Medical Leave Act of 1993;
              Title VII of the Civil Rights Act of 1964; Fair Labor Standards Act; Fair Employment and Housing Act; and any other law, ordinance or regulation regarding discrimination or harassment or any terms or conditions of employment. There shall be
              one arbitrator who shall be jointly selected by the parties. If the parties have not jointly agreed upon an arbitrator within twenty (20) calendar days after respondent’s receipt of claimant’s notice of intention to arbitrate, either party
              may request JAMS to furnish the parties with a list of names from which the parties shall jointly select an arbitrator. If the parties have not agreed upon an arbitrator within ten (10) calendar days after the transmittal date of such list,
              then each party shall have an additional five (5) calendar days in which to strike any names objected to, number the remaining names in order of preference, and return the list to JAMS, which shall then select an arbitrator in accordance with
              the Rules. The place of arbitration shall be New York, New York.

          

    

    

    
      
        

      
        	
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            By agreeing to arbitration, the parties hereto do not intend to deprive any court of its jurisdiction to issue a pre-arbitral injunction, including, without
              limitation, with respect to the provisions of the Confidentiality Agreement. The arbitration shall be governed by the Federal Arbitration Act, 9 U.S.C. §§ 1-16. Judgment upon the award of the arbitrator may be entered in any court of
              competent jurisdiction. The arbitrator shall: (a) have authority to compel adequate discovery for the resolution of the dispute and to award such relief as would otherwise be available under applicable law in a court proceeding; and (b) issue
              a written statement signed by the arbitrator regarding the disposition of each claim and the relief, if any, awarded as to each claim, the reasons for the award, and the arbitrator’s essential findings and conclusions on which the award is
              based. The Company shall pay all administrative fees of JAMS in excess of $435 (a typical filing fee in court) and the arbitrator’s fees and expenses. Each party shall bear its, his or her own costs and expenses (including attorney’s fees) in
              any such arbitration and the arbitrator shall have no power to award costs and attorney’s fees except as provided by statute or by separate written agreement between the parties. In the event any portion of this arbitration provision is found
              unenforceable by a court of competent jurisdiction, such portion shall become null and void leaving the remainder of this arbitration provision in full force and effect. The parties agree that all information regarding the arbitration,
              including any settlement thereof, shall not be disclosed by the parties hereto, except as otherwise required by applicable law.

          

    

    

    
      
        

      
        	
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    This Agreement, along with any agreements relating to confidentiality or inventions assignment between you and the Company, set forth the terms of your employment with the
      Company and supersede any prior representations or agreements including, but not limited to, any representations made during your interviews, whether written or oral. This Agreement shall be governed by the law of the State of Delaware, without
      regard to its choice of law provisions.  This Agreement, including, but not limited to, its at-will employment provision, may not be modified or amended except by a written agreement signed on behalf of the Board of Directors and by you. This
      Agreement may be executed in two counterparts, each of which shall be considered one and the same instrument and shall become effective when both counterparts have been signed by each of the parties and delivered to the other party. This Agreement
      may be executed by facsimile or .pdf signature and a facsimile or .pdf signature shall constitute an original for all purposes.

     

    Joe, we are very excited about having you join BioSpecifics as its Interim CEO.  Your experience and judgment will have a great impact on the Company’s growth and success,
      and we believe that you will derive a great deal of enjoyment out of your role and responsibilities.

     

    If you have any questions about this information, please contact me.  Otherwise, please confirm your acceptance of this offer of at-will employment with Biospecifics by
      signing below and returning a copy no later than 12:00 noon EDT on April 2, 2020.

     

    	
            Accepted:

          	
            BIOSPECIFICS TECHNOLOGIES CORP.

          
	 	 
	
            /s/ Joseph Truitt

          	
            /s/ Jennifer Chao

          
	
            Joseph Truitt

          	
            By: Jenn Chao

          
	
            Title: Chairman of the Board

          	 
	 	 
	
            Date: April 2, 2020

          	
            Date: April 1, 2020

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