Document:

Exhibit 10.1

 

THIRD Amendment
TO AmenDed and Restated LOAN AGREEMENT and THIRD Amendment to promissory note

 

This THIRD
Amendment TO Amended and Restated LOAN AGREEMENT AND Third Amendment TO PROMISSORY NOTE (this “Agreement”) is
made as of June 16, 2022, by and among RANOR, INC., a Delaware corporation (“Ranor”), Stadco
New Acquisition, LLC, a Delaware limited liability company (the “Initial Stadco Borrower”), STADCO,
a California corporation (“Stadco”), Westminster Credit Holdings, LLC,
a Delaware limited liability company (“Westminster”; together with Ranor, Initial Stadco Borrower and Stadco, jointly
and severally, each a “Borrower” and collectively, the “Borrowers”), and BERKSHIRE BANK, a savings
bank organized and existing under the laws of the Commonwealth of Massachusetts (“Lender”), successor by merger to
Commerce Bank & Trust Company, in the following circumstances:

 

A.       Lender has made (i) a term
loan to Ranor in the original principal amount of $2,850,000.00 (the “Ranor Term Loan”), which Ranor Term Loan is
evidenced by that certain Promissory Note dated December 20, 2016, made by Ranor in favor of Lender in the stated principal amount of
$2,850,000.00 (as amended by the First Amendment and Second Amendment, each as hereafter defined, and as further amended, amended and
restated, supplemented or otherwise modified from time to time, the “Ranor Term Note”), which Ranor Term Loan matures
on June 16, 2022, (ii) a revolving line of credit loan to the Borrowers in the maximum principal amount of $5,000,000.00 (the “Line
of Credit”), which Line of Credit is evidenced by that certain Second Amended and Restated Promissory Note dated August 25,
2021, made by the Borrowers in favor of Lender in the stated principal amount of $5,000,000.00 (the “Line of Credit Note”)
and (iii) a term loan to the Initial Stadco Borrower, Stadco and Westminster in the original principal amount of $4,000,000.00 (the “Stadco
Term Loan” and together with the Ranor Term Loan and the Line of Credit, collectively, the “Loans”), which
Stadco Term Loan is evidenced by that certain Promissory Note dated August 25, 2021, made by the Initial Stadco Borrower, Stadco and
Westminster in the stated principal amount of $4,000,000.00 (the “Stadco Term Note” and together with the Ranor Term
Note and the Line of Credit Note, collectively, the “Notes”). The Notes are governed by the Amended and Restated Loan
Agreement by and between Borrowers and Lender dated August 25, 2021 (as amended by that certain First Amendment to Amended and Restated
Loan Agreement and First Amendment to Promissory Note (the “First Amendment”) dated as of December 17, 2021, as further
amended by that certain Second Amendment to Amended and Restated Loan Agreement and Second Amendment to Promissory Note (the “Second
Amendment”) dated as of March 18, 2022, and as further amended, amended and restated, supplemented or otherwise modified from
time to time, the “Loan Agreement”). Any capitalized terms used but not expressly defined herein shall be given the
same meaning given to such term in the Loan Agreement.

 

B.       Borrowers have requested that Lender extend the maturity of the Ranor Term Loan and Lender has agreed to such modification on the
terms and subject to the conditions set forth herein.

 

NOW, THEREFORE, in consideration
of the foregoing, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties
hereby agree as follows:

 

     

     

    

 

1.       Amendment to Loan Agreement. The Loan Agreement is hereby amended as follows:

 

1.1       Appendix I of the Loan Agreement is hereby amended by deleting the definition of “Ranor Term Loan Maturity Date”
and inserting the following definition in place thereof and substituted therefor:

 

“Ranor
Term Loan Maturity Date. September 16, 2022.”

 

2.       Amendment to Promissory Note. The Ranor Term Note is hereby amended as follows:

 

2.1       The
second sentence of the second paragraph on page 1 of the Ranor Term Note is hereby deleted in its entirety and the following is inserted
in place thereof and substituted therefor:

 

“Commencing
on January 20, 2017, and on the 20th day of each month thereafter, the Borrower shall make monthly payments of principal and
interest in the amount of $19,260.46 each, with all outstanding principal and accrued interest due and payable on September 16, 2022.”

 

3.       Conditions Precedent. The effectiveness of this Agreement is conditioned upon the occurrence of the following events, or
the Lender’s receipt of the following items, as applicable, in each case in form and content acceptable to the Lender:

 

3.1       a fully-executed counterpart of this Agreement from the Borrowers and the Tech Guarantor, in form satisfactory to the Lender; and

 

3.2       receipt by Lender of payment of all reasonable and documented fees and expenses incurred in connection with this Agreement for
which invoices have been presented to the Borrowers, including, without limitation, all reasonable legal fees and expenses.

 

4.       All security for the Loans and Notes now existing or hereafter granted to Lender, including without limitation all security evidenced,
granted or governed by the Loan Agreement as amended hereby, the Security Agreements, the Mortgage, and any guaranty given in connection
with the Loans or Notes, shall be security for the Loans, as amended hereby, and the Notes and for all obligations of Borrower under this
Agreement, under the Notes and under the Loan Agreement, as previously amended and as amended by this Agreement.

 

5.       All references to the Loan Agreement and the Ranor Term Note, respectively, wherever, whenever or however made or contained, are
hereby deemed to be references to the Loan Agreement and the Ranor Term Note, respectively, as previously modified and as modified by
this Agreement. By signing this Agreement in the space indicated below, each Borrower hereby affirms and restates all of the covenants
and agreements made and set forth in the Loan Agreement and does hereby warrant, represent and covenant that the representations and warranties
in the Loan Agreement are true, accurate and complete in all material respects on and as of the date hereof (provided, however, that such
materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality
in the text thereof, and provided, further, that those representations and warranties expressly referring to a specific date shall be
true, accurate and complete in all material respects as of such date). ALL OF THE PROVISIONS OF THE LOAN AGREEMENT, AS AMENDED HEREBY,
REMAIN IN FULL FORCE AND EFFECT.

 

    	 	2	 

     

    

 

6.       By signing this Agreement on behalf of the Borrowers in the space designated below, the individual so signing represents and warrants
to Lender that he or she has full power and authority to execute this Agreement and to bind such Borrower, and that all corporate actions
necessary to authorize and approve execution of this Agreement, and by such individual, have been taken prior to the execution hereof.

 

7.       This Agreement shall be binding upon and shall inure to the benefit of Borrowers and Lender, and their respective successors and
assigns. This Agreement has been made in the Commonwealth of Massachusetts and shall be governed, construed, applied and enforced in accordance
with the laws of said Commonwealth without resort to its conflict of laws rules. Wherever possible, each provision of this Agreement shall
be interpreted in such a manner as to be effective and valid under applicable law; should any portion of this Agreement be declared invalid
for any reason in any jurisdiction, such declaration shall have no effect upon the remaining portions of this Agreement; furthermore,
the entirety of this Agreement shall continue in full force and effect in all jurisdictions and said remaining portions of this Agreement
shall continue in full force and effect in the subject jurisdiction as if this Agreement had been executed with the invalid portions thereof
deleted.

 

8.       IN THE EVENT THAT LENDER BRINGS ANY ACTION OR PROCEEDING IN CONNECTION HEREWITH IN ANY COURT OF RECORD OF MASSACHUSETTS OR THE
UNITED STATES IN MASSACHUSETTS, EACH BORROWER HEREBY IRREVOCABLY CONSENTS TO AND CONFERS PERSONAL JURISDICTION OF SUCH COURT OVER SUCH
BORROWER BY SUCH COURT. IN ANY SUCH ACTION OR PROCEEDING, EACH BORROWER HEREBY WAIVES PERSONAL SERVICE OF ANY SUMMONS, COMPLAINT OR OTHER
PROCESS AND AGREES THAT SERVICE THEREOF MAY BE MADE UPON SUCH BORROWER BY MAILING A COPY OF SUCH SUMMONS, COMPLAINT OR OTHER PROCESS BY
CERTIFIED MAIL TO SUCH BORROWER AT ITS ADDRESS REFERENCED IN THE LOAN AGREEMENT. EACH BORROWER AND LENDER HEREBY WAIVE TRIAL BY JURY IN
ANY LITIGATION IN ANY COURT WITH RESPECT TO, IN CONNECTION WITH, OR ARISING OUT OF THIS AGREEMENT OR ANY INSTRUMENT OR DOCUMENT DELIVERED
IN CONNECTION HEREWITH, OR THE VALIDITY, PROTECTION, INTERPRETATION, COLLECTION OR ENFORCEMENT THEREOF, OR ANY OTHER CLAIM OR DISPUTE
HOWSOEVER ARISING BETWEEN BORROWERS AND LENDER.

 

9.       This Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall
constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of
a signature page of this Agreement by facsimile, email or other electronic format (.pdf or .tif) shall be effective as delivery of a manually
executed counterpart of this Agreement.

 

    	 	3	 

     

    

 

IN WITNESS WHEREOF, the parties
hereto, by their duly authorized representatives, have executed this Agreement on the date first above written. 

 

	 	 	RANOR, INC.
	 	 	 	 
	 	 	 	 
	 	 	By:	/s/ Thomas Sammons
	 	 	Name:	Thomas Sammons
	 	 	Title:	Vice President – Finance
	 	 	 	 
	 	 	 	 
	 	 	STADCO NEW ACQUISITION, LLC
	 	 	 	 
	 	 	 	 
	 	 	By:	/s/ Thomas Sammons
	 	 	Name:	Thomas Sammons
	 	 	Title:	Chief Financial Officer
	 	 	 	 
	 	 	 	 
	 	 	WESTMINSTER CREDIT HOLDINGS, LLC
	 	 	 	 
	 	 	 	 
	 	 	By:	/s/ Thomas Sammons
	 	 	Name:	Thomas Sammons
	 	 	Title:	Chief Financial Officer
	 	 	 	 
	 	 	 	 
	 	 	STADCO
	 	 	 	 
	 	 	 	 
	 	 	By:	/s/ Thomas Sammons
	 	 	Name:	Thomas Sammons
	 	 	Title:	Assistant Secretary
	 	 	 	 
	 	 	 	 
	 	 	BERKSHIRE BANK
	 	 	 	 
	 	 	 	 
	 	 	By:	/s/ Thomas McCarthy
	 	 	Name:	Thomas McCarthy
	 	 	Title:	Vice President – Commercial Lending
	 	 	 	 

 

    [Signature Page to Third Amendment]

     

    

 

CONSENT OF GUARANTOR

 

The undersigned Guarantor
of the Obligations of the Borrowers as further described in the Loan Agreement and that certain Amended and Restated Unlimited Guaranty
dated as of August 25, 2021, by such Guarantor in favor of the Lender (the “Guaranty”) hereby consents to the execution
of the foregoing Agreement, hereby waives any claims, offsets or defenses which might otherwise arise by reason of the execution of the
foregoing, and hereby ratifies and affirms the Guaranty, and all agreements securing such Guaranty, all of which shall remain in full
force and effect until Borrowers’ Obligations have been paid and performed in full to Lender’s satisfaction. The undersigned
Guarantor hereby agrees that, as of the date hereof, it has no claim or defense of any kind by way of offset or otherwise to the payment
and satisfaction in full of Borrowers’ or the undersigned Guarantor’s obligations under said documents or to the extent that
such a claim or defense may exist, the undersigned hereby waives it in consideration of the execution of the Agreement. The undersigned
Guarantor further waives any and all defenses arising by reason of (a) any and all amendments or modifications of any documents or instrument,
(b) any and all alterations, accelerations, extensions or other changes in the time or manner of payment or performance of Obligations,
(c) the release, substitution or addition of any collateral or any guarantees, (d) any failure of the Lender to give notice of default
to Borrowers or the undersigned Guarantor, (e) any failure of the Lender to pursue any Borrower or any of its property with due diligence,
(f) any failure of the Lender to resort to collateral or to remedies which may be available to it, (g) any and all defenses arising out
of the relationship of the undersigned to Borrowers, and none of the defenses shall operate to release the undersigned as guarantor, (h)
all rights of Borrowers, and (i) the benefit of all other principles or provisions of law, statutory or otherwise, which are or might
be in conflict with the terms hereof.

 

The failure or refusal
of the undersigned Guarantor to execute this Consent of Guarantor shall not void such Guarantor’s Obligations, nor shall such failure
or refusal be grounds for any relief of the undersigned Guarantor from its Obligations.

 

	GUARANTOR:	 	 
	 	 	 	 
	TECHPRECISION CORPORATION	 	 
	 	 	 	 
	 	 	 	 
	By:	/s/ Thomas Sammons	 	 
	Name:	Thomas Sammons	 	 
	Title:	Chief Financial OfficerExhibit
10.1

 

EXECUTIVE
EMPLOYMENT AGREEMENT

 

This
Executive Employment Agreement (the “Agreement”) dated as of June 23, 2022 (the “Effective Date”), is
by and between ORAGENICS, INC., a Florida corporation, (the “Company”), and KIMBERLY M. MURPHY (the “Executive”).

 

WHEREAS,
the Company is a biotechnology company currently engaged in the business of research, development, and sales of proprietary products
and technologies;

 

WHEREAS,
the Executive has accepted an offer to be employed as the Chief Executive Officer and President of the Company, upon the terms and conditions
set forth herein.

 

WHEREAS,
the Company wishes to assure itself of the continued services of the Executive for the period provided in this Agreement and the
Executive is willing to serve in the employ of the Company for such period upon the terms and conditions hereinafter set forth.

 

NOW
THEREFORE, in consideration of the mutual covenants herein contained, the parties intending to be legally bound, hereby agree as
follows:

 

1.
EMPLOYMENT. During the Term the Company will employ the Executive as the President and Chief Executive Officer of the Company,
and the Executive agrees to serve in such capacities and provide her services to the Company on the terms and conditions set forth in
this Agreement.

 

2.
POSITION AND DUTIES. During the Term, the Executive will serve as the President and Chief Executive Officer of the Company. The
Executive agrees that during the Term (as defined below) she shall dedicate her full business time, attention and energies to performing
her duties to the Company, as prescribed by the Company’s Board of Directors (the “Board”). The Executive will
manage the business affairs of the Company and perform the duties typically assigned to the chief executive officer of a similarly situated
company in the Company’s industry. The Executive shall also perform such other reasonable duties as may hereafter be assigned to
her by the Board, consistent with her abilities and position as the Chief Executive Officer and President, including continuing services
as a member of the Board and providing such further services to the Company as may reasonably be requested of her. The Executive will
report to the Board, and carry out the decisions and otherwise abide by and enforce the rules and policies of the Company.

 

The
Executive shall devote her best efforts to the business and affairs of the Company and, during the Term and shall comply with at all
times the restrictive covenants provided in Sections 5 and 7 below. The Company and the Executive acknowledge and agree
that, during the Term, Executive shall be permitted to: (i) serve on civic or charitable boards or committees; (ii) the boards of Clarus
Therapeutics Holdings, Inc. and Blue Water Vaccines, Inc. and on such additional corporate boards as the Nominating and Governance Committee
and the Board may approve; and (iii) manage passive personal investments, so long as any such activities, individually or in the aggregate,
do not unduly interfere with the performance of Executive’s responsibilities as an executive officer of the Company in accordance
with this Agreement.

 

    	1

     

    

 

The
Company agrees that Executive shall perform her duties remotely, except that she agrees to spend twelve (12) non-consecutive business
days per quarter in either of the Florida office locations (Tampa or Alachua).

 

3.
TERM. The Term of this Agreement shall start on Effective Date and continue through the first anniversary of the Effective Date
(the “Initial Term”). Thereafter the Term of the Agreement shall automatically be extended for one (1) additional
twelve (12) month term after the end of the Initial Term (the “Renewal Term” and collectively with the Initial Term
the “Term”), unless either the Company or the Executive provides written notice of non-renewal to the other Party
not later than thirty (30) days prior to the end of the Initial Term. If a notice of non-renewal is provided in accordance with this
Section, the Executive’s employment under this Agreement shall terminate upon the expiration of the Initial Term. Notwithstanding
the foregoing, Executive’s employment under this Agreement may be terminated earlier than the scheduled expiration of a Term, in
accordance with Section 8 below. However, the provisions of Sections 5, 6 and 7 shall continue in force in accordance
with the provisions therein and shall survive the expiration or termination of the Term and this Agreement.

 

4.
COMPENSATION AND BENEFITS.

 

(a)
Base Salary. During the Term the Executive’s annual base salary shall be Four Hundred and Thirty Thousand Dollars ($430,000)
per year, which shall be payable by the Company to the Executive in installments consistent with the Company’s normal payroll schedule,
subject to customary withholding as required by applicable law. This annual base salary shall be reviewed by the Board periodically,
and the Board may adjust the Executive’s annual base salary from time to time as the Board deems to be appropriate subject to performance
and market conditions.

 

(b)
Incentive Compensation. During the Term, the Executive shall also be eligible to receive an annual performance bonus from the
Company with a target of fifty percent (50%) of her annual base salary based upon meeting appropriate Company-based and individual-based
targets specified by the Compensation Committee of the Board, in its discretion with consultation of the Executive, as approved by the
full Board (the “Performance Bonus”). The Performance Bonus targets for each year shall be established by the Compensation
Committee no later than March 31 of that year. The Performance Bonus targets for 2022 shall be established by the Compensation Committee
no later than June 30, 2022 and Executive’s Performance Bonus for 2022 (if any) shall be pro-rated for Executive’s partial
year of employment. No Performance Bonus shall be earned by the Executive unless: (i) the Compensation Committee has completed its year-end
review of the Company’s financial statements and other financial performance for the year and has certified no later than February
28 of the following year that the Executive has satisfied her Performance Bonus targets for the year, and (ii) the Executive remains
an employee of the Company on the date that the Compensation Committee certifies that the Executive has satisfied her Performance Bonus
targets for the year. Any Performance Bonus that is earned shall be paid on or before March 31 of the following year.

 

    	2

     

    

 

All
such Performance Bonuses, as well as any equity awards which are granted to the Executive or which become vested as a result of the satisfaction
of financial performance goals of the Company, shall be subject to the Company’s policy on recoupment or clawback of executive
incentive compensation, as such policy may be amended from time to time (the “Clawback Policy”), and that the Executive shall
be obligated to repay to the Company, any and all amounts received with respect to any Performance Bonus or performance-based equity
awards, to the extent such a repayment is required by the terms of the Clawback Policy.

 

(c)
Option Award. Upon the Effective Date the Executive will be granted stock options to purchase 800,000 shares of the Company’s
common stock pursuant to the 2021 Equity Incentive Plan at an exercise price equal to the fair market value of the common stock on the
Effective Date of this Agreement. The stock options shall be made pursuant to a separate award agreement and be subject to the terms
of such agreement and the terms of the Company’s 2021 Equity Incentive Plan. The option agreement shall provide for vesting of
the options as follows: 160,000 options shall vest on the Effective Date, 160,000 options shall vest on December 23, 2022, 160,000 options
shall vest on June 23, 2023, 160,000 options shall vest on December 23, 2023, and 160,000 options shall vest on June 23, 2024, in each
case provided the Executive has remained in continuous employment with the Company through such dates.

 

(d)
Benefits. The Executive shall be entitled to participate in all group insurance, vacation, retirement and other employee benefits
established by Company for its full time employees generally, on terms comparable to those provided to such employees from time to time
by the Company. Nothing in this Agreement will preclude the Company from terminating or amending any employee benefit plan so as to change
eligibility or other requirements or eliminate, reduce or otherwise change any benefit, provided that such termination or amendment
applies equally to the Executive and other full time employees of the Company.

 

The
Executive shall be entitled to four weeks paid vacation per calendar year, pro-rated in 2022 for Executive’s partial year of employment,
plus such sick leave as provided in accordance with the Company’s policies.

 

(e)
Reimbursement of Business Expenses. The Executive shall be entitled to receive reimbursement for all appropriate and reasonable
business expenses incurred by her in connection with her duties under this Agreement in accordance with the written policies of the Company
as in effect from time to time and subject to applicable State and Federal laws and regulations.

 

(f)
Legal Fees. The Company shall reimburse Executive for her legal fees incurred in the review and development of this employment
agreement, up to a maximum of Seven Thousand Five Hundred Dollars ($7,500.00). The legal fees shall be paid to Executive within 10 business
days following the Effective Date of this Agreement.

 

    	3

     

    

 

5.
CONFIDENTIAL INFORMATION. The Executive agrees that during and after her employment with the Company, she will hold in the strictest
confidence, and will not use (except for the benefit of the Company, or any of the Company’s subsidiaries or affiliates) or disclose
to any person, firm, or corporation any Company Confidential Information except as necessary in carrying out her duties for the Company.
The Executive understands that her unauthorized use or disclosure of Company Confidential Information may lead to termination for Cause
and legal action by the Company. The Executive understands that “Company Confidential Information” means any non-public
information that relates to the actual or anticipated business, research or development of the Company, or its subsidiaries or affiliates
(collectively, for the purposes of this section, the “Company”), or to the Company’s technical data, trade secrets,
or know-how, including, but not limited to, research, product plans, or other information regarding the Company’s products or services
and markets therefor, customer lists and customers (including, but not limited to, customers of the Company on which the Executive called
or with which she may become acquainted during her employment), software, developments, inventions, processes, formulas, technology,
designs, drawings, engineering, hardware configuration information, marketing, finances, and other business information. Company Confidential
Information does not include information that: (i) becomes generally known to the public subsequent to disclosure to the Executive through
no wrongful act of Executive or any representative of Executive; (ii) was known to the public prior to its disclosure to the Executive;
or (iii) the Executive is required to disclose by applicable law, regulation or legal process. Executive is permitted to retain documentation
related to this employment agreement, her benefits, equity and performance. The Executive understands that nothing in this Agreement
is intended to limit employees’ rights to discuss the terms, wages, and working conditions of her employment, as protected by applicable
law.

 

The
Executive recognizes that the Company may have received and in the future may receive from third parties associated with the Company,
e.g., the Company’s customers, suppliers, licensors, licensees, partners, or collaborators (“Associated Third Parties”),
their confidential or proprietary information (“Associated Third Party Confidential Information”). By way of example,
Associated Third Party Confidential Information may include the habits or practices of Associated Third Parties, the technology of Associated
Third Parties, requirements of Associated Third Parties, and information related to the business conducted between the Company and such
Associated Third Parties. The Executive agrees at all times during her employment with the Company and thereafter to hold in the strictest
confidence, and not to use or to disclose to any person, firm, or corporation, any Associated Third Party Confidential Information, except
as necessary in carrying out her duties for the Company consistent with the Company’s agreement with such Associated Third Parties.
The Executive further agrees to comply with any and all written Company policies and guidelines that may be adopted from time to time
regarding Associated Third Parties and Associated Third Party Confidential Information. The Executive understands that her unauthorized
use or disclosure of Associated Third Party Confidential Information or violation of any Company policies during her employment may lead
to termination for Cause and legal action by the Company.

 

    	4

     

    

 

Upon
termination of her employment with the Company, and any other time at Company’s request, the Executive will promptly deliver to
the Company, and will not keep in her possession, recreate, or deliver to anyone else, any and all Company property, including, but not
limited to, Company Confidential Information, Associated Third Party Confidential Information, as well as all devices and equipment belonging
to the Company (including computers, handheld electronic devices, telephone equipment, and other electronic devices), Company credit
cards, passwords, records, data, notes, notebooks, reports, files, proposals, lists, correspondence, specifications, drawings, blueprints,
sketches, materials, photographs, charts, any other documents and property, and reproductions of any and all of the aforementioned items
that were developed by her pursuant to her employment with the Company, obtained by her in connection with her employment with the Company,
or otherwise belonging to the Company, its successors, or assigns. Further, to the extent that the Executive used her own personal computers,
cell phones, email accounts, thumb drives or other electronic memory or storage devices to access, store or transmit Company Confidential
Information or Associated Third Party Confidential Information, upon the termination of the Executive’s employment with the Company,
and at any other time at Company’s request, the Executive shall promptly delete all Company Confidential Information or Associated
Third Party Confidential Information from Executive’s property and upon the Company’s request, provide written verifications
of such deletions. The Executive also consents to an exit interview to confirm her compliance with this Section 5, if requested
by the Company.

 

Notwithstanding
the foregoing, the Company hereby provides notice to the Executive pursuant to 18 U.S.C. §1833 that an individual may not be held
criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that: (a) is made (i) in
confidence to a federal, state or local government official, either directly or indirectly, or to any attorney; and (ii) solely for the
purpose of reporting or investigating a suspected violation of law; or (b) is made in a complaint or other document that is filed under
seal in a lawsuit or other proceeding. Further, an individual who files a lawsuit for retaliation by an employer for reporting a suspected
violation of law may disclose the employer’s trade secrets to the attorney and use the trade secret information in the court proceeding
if the individual: (a) files any document containing the trade secret under seal; and (b) does not disclose the trade secret, except
pursuant to court order. The Executive further understands that nothing contained in this Agreement limits her ability to communicate
with, or file a complaint or charge with the Equal Employment Opportunity Commission (“EEOC”), the National Labor Relations
Board, the Occupational Safety and Health Administration, the Securities and Exchange Commission (“SEC”), the Department
of Justice (“DOJ”) or any other federal, state, or local governmental agency or commission (collectively, “Government
Agencies”), or otherwise participate in any investigation or proceeding that may be conducted by Government Agencies, including
providing documents or other information, without notice to the Company; provided, however, that Executive may not disclose Company information
that is protected by the attorney-client privilege, except as expressly authorized by law. The Executive retains the right to communicate
with the Government Agencies and such communication can be initiated by her or in response to the government and is not limited by any
non-disparagement or confidentiality obligations under this Agreement. This Agreement does not limit Executive’s right to receive
an award from the SEC or DOJ for information provided to the SEC or DOJ. Executive is advised to consult an attorney prior to disclosing
any trade secrets, Company Confidential Information or Associated Third Party Confidential Information as such immunity is only applicable
in limited situations.

 

    	5

     

    

 

6.
INTELLECTUAL PROPERTY RIGHTS. Any and all concepts, improvements, computer software, articles, pamphlets, brochures, marketing
plans, or other information (collectively, “Developments”) which the Executive discovers, edits or develops during
the Term of her employment, which relates to or is useful in connection with the business of Company, shall be deemed work for hire and
shall be the sole and exclusive property of the Company. The Executive hereby assigns, transfers and conveys to the Company all right,
title and interest in, and to all such Developments. The Executive shall make full disclosure thereof to the Company and shall do such
acts and deliver all such instruments as the Company shall reasonably require of Executive, at the Company’s expense, to effect
such ownership and to enable the Company to file and prosecute applications for and to acquire, maintain and enforce any and all patents,
trademark, registrations or copyrights under United States or foreign law with respect to such Developments or to obtain any extension,
valid action, reissuance, continuance or renewal of any such patent, trademark or copyright.

 

7.
NON-COMPETITION AND NON-SOLICITATION COVENANTS. As additional consideration to the Company for entering into this Agreement, the
Executive covenants that during the Restricted Period (as defined below), she shall not directly or indirectly:

 

 (a) compete against the Company, or any subsidiary or affiliate of the Company that is engaged in the Business (as defined below) (collectively, the “Applicable Entities”), by being employed by, gratuitously assisting or serving as an independent contractor, consultant, partner, director or officer with a competitor of the Company or any of the Applicable Entities, or starting her own business that would compete directly or indirectly with the Company or any of the Applicable Entities, or have a material interest in any business, corporation, partnership, limited liability company or other business entity which competes directly or indirectly with the Company or any of the Applicable Entities. For purposes of this covenant, the term “the Business” shall mean developing, producing, designing, providing, soliciting orders for, selling, distributing, or marketing Company Products and Services in any state of the United States of America in which the Company or any of the Applicable Entities does business. For purposes hereof, “Company Products and Services” means any novel antibiotics used to treat infectious diseases and an intranasal vaccine to prevent coronavirus disease 2019 (“COVID-19”) from the SARS-CoV-2 virus and variants thereof, (i) which the Company or any of the Applicable Entities anticipate developing, producing, designing, providing, marketing, distributing or selling, (ii) which the Company or any Applicable Entities develop, produce, design, provide, market or distribute while Executive is employed by the Company or is otherwise providing services to the Company, or (iii) that compete with any of the products and services of the Company or Applicable Entities referenced in (i) or (ii) above. For the purpose of defining and enforcing this covenant, the competitors of the Company and Applicable Entities will be identified at the time the Company seeks enforcement of this covenant. This determination shall be based on the then-existing market area of the Company and Applicable Entities at the time enforcement of this covenant is sought. Notwithstanding the foregoing, investment by the Executive constituting less than five percent (5%) of the outstanding securities in a publicly-traded entity that may compete with the Company or Applicable Entities shall not constitute a violation of this Section 7(a) as long as the Executive is not actively involved in such entity’s business.

 

    	6

     

    

 

(b)
Solicit, induce or encourage, or attempt to solicit, induce or encourage, any current customer or vendor of the Company or any of the
Applicable Entities to do business with any person or entity in competition with the Company or any of the Applicable Entities or to
terminate or reduce the amount of business which any such customer or vendor has customarily done or contemplates doing with the Company
or any of the Applicable Entities, whether or not the relationship between the Company or any of the Applicable Entities and such customer
or vendor was originally established in whole or in part through the Executive’s efforts; or

 

(c)
Solicit, induce or encourage, or attempt to solicit, induce or encourage, any employee or independent contractor of the Company or any
of the Applicable Entities, who was so employed or engaged at any time during the six (6) month period prior to the date of the Executive’s
solicitation, to leave his or her employment or engagement with the Company or any of the Applicable Entities, to cease providing services
to the Company or any of the Applicable Entities, or to accept employment with any other person or entity; provided however, that
general solicitations not specifically targeted to employees or independent contractors of the Company or any of the Applicable Entities
shall not constitute a breach of this Section 7(c).

 

These
covenants not to compete and not to solicit shall apply during Executive’s employment with the Company and for a period of twelve
(12) months following the date on which Executive is last employed by the Company (the “Restricted Period”). In the
event of a breach by the Executive of any of the covenants in this Section 7, the term of the Restricted Period will be extended
by the period of the duration of such breach.

 

The
Executive agrees that the relevant public policy and legal aspects of covenants not to compete have been discussed with her and that
every effort has been made to limit the restrictions placed upon Executive to those that are reasonable and necessary to protect the
legitimate interests of the Company, and the other Applicable Entities. The Executive acknowledges that, based upon her education, experience,
and training, the non-compete and non-solicitation provisions of this Section 7 will not prevent the Executive from earning a
livelihood and supporting the Executive and her family during the relevant time period.

 

The
Executive’s obligations to the Company pursuant to Sections 5 and 7 of this Agreement are independent of any other
obligation of the Company to the Executive (including any promise or agreement contained in this Agreement or any other agreement between
the Company and the Executive or any obligation that otherwise arises from any aspect of the employment relationship). The existence
of any claim or cause of action of the Executive against the Company, whether predicated on this Agreement or any other basis, shall
not constitute a defense to the enforcement of the restrictive covenants set forth in Sections 5 and 7 of this Agreement.

 

    	7

     

    

 

If
any restriction set forth in this Section 5 or 7 is found by any court of competent jurisdiction to be overbroad, void
or unenforceable, the court shall modify this Agreement to extend only over the maximum period of time, range of activities, or geographic
areas as to which it may be enforceable.

 

8.
TERMINATION OF EMPLOYMENT. Notwithstanding anything else contained in this Agreement, the Term of Executive’s employment
under this Agreement may be terminated prior to the end of the Term stated in Section 3 above upon the earliest to occur of the
events described in Subsections 8(a) or 8(b) below. To terminate the Executive’s employment with the Company and
the Term pursuant to this Section 8, the terminating party shall provide to the other party a written notice of termination (a
“Termination Notice”), which shall (i) indicate the specific termination provision of this Agreement relied upon,
(ii) briefly summarize the facts and circumstances that provide the bases for such termination, (iii) specify the termination date in
accordance with the requirements of this Agreement, and (iv) otherwise comply with any notice-related term in this Agreement applicable
to the specific type of termination.

 

(a)
Termination by the Company. The Company may terminate the Executive’s employment with the Company and the Term of this Agreement:

 

	 	(1)	Upon
    the Executive’s Disability (as defined below), such termination to be effective on the date of written notice by the Company
    that the Executive’s employment is being terminated as a result of such Disability or such later date as may be specified in
    the Termination Notice;
	 	 	 
	 	(2)	Upon
    the Executive’s death, to be effective immediately upon the date of death;
	 	 	 
	 	(3)	For
    Cause (as defined below), which termination shall be effective on the date specified in the Termination Notice;
	 	 	 
	 	(4)	If
    the Board determines in good faith that Company has insufficient funds to continue operations, and as a result is unable to continue
    to pay the level of compensation due to the Executive under Section 4 of this Agreement, whether as a result of the Company’s
    failure to obtain additional equity funding as needed to sustain its operations, or otherwise provided further, however, that Company
    shall not terminate Executive’s employment under this provision until the Executive and the Board, have been unable, after
    reasonable good faith efforts, to reach mutual agreement on an alternative level of compensation that is workable with the Company’s
    budget, which termination shall be effective on the date specified in the Termination Notice; or
	 	 	 
	 	(5)	Without
    Cause, for any reason other than under Subsections (a)(1), (2), (3) or (4), or for no reason, upon written notice
    by the Company to the Executive that the Executive’s employment is being terminated, which termination shall be effective on
    the date specified in the Termination Notice.

 

    	8

     

    

 

(b)
Termination by Executive. The Executive may terminate the Executive’s employment with the Company and the Term of this Agreement
by providing thirty (30) days prior written notice to the Company.

 

(c) Definition of “Disability.” For purposes of this Agreement, “Disability” shall mean the Executive’s incapacity or inability to perform her duties and responsibilities as contemplated under this Agreement, with any reasonable accommodation that the Company may be required to provide in accordance with the Americans with Disabilities Act, for one hundred twenty (120) consecutive days or for more than one hundred twenty (120) days within any one (1) year period (cumulative or consecutive) due to impairment to her physical or mental health. For this purpose, the Executive shall be presumed to have suffered a Disability if she is determined to be entitled to Social Security disability benefits by the Social Security Administration. The Executive hereby consents to a medical examination and consultation, at the Company’s sole expense, regarding her health and ability to perform as aforesaid.

 

(d)
Definition of “Cause.” Cause shall mean:

 

(i)
Executive’s commission of an act of fraud, embezzlement, theft or proven dishonesty, or any other illegal act or practice (whether
or not resulting in criminal prosecution or conviction), including theft or destruction of property of the Company or a subsidiary, or
any other act or practice which the Board shall, in good faith, deem to have resulted in the Executive becoming unbondable under the
Company or any subsidiary’s fidelity bond;

 

(ii)
Executive’s engaging in willful or gross misconduct which is deemed by the Board, in good faith, to be materially injurious to
the Company or any subsidiary, monetarily or otherwise;

 

(iii)
Executive’s continued failure or habitual neglect to perform her duties with the Company or any subsidiary;

 

(iv)
Executive’s breach of this Agreement, including but not limited to Executive’s restrictive covenants pursuant to Sections
5 and 7, or any other agreement under which the Executive provides services; or

 

(v)
Executive’s violation of written policies of the Company or any subsidiary, or conduct evidencing willful or wanton disregard of
the interests of the Company or any subsidiary.

 

    	9

     

    

 

(e)
Termination Notice and Cure. Notwithstanding the foregoing subsection (d) of this Section 8, “Cause”
shall not be deemed to have occurred, and the Company shall be deemed to have irrevocably waived their right to terminate the Executive’s
employment with the Company and the Term under this Agreement with respect thereto, unless: (i) the Company has provided the Executive
with a Termination Notice describing one or more of the grounds set forth in Section 8(d) no later than ninety (90) days after
the Board, excluding Executive, first receives notice of the event constituting Cause, (ii) if such ground is capable of being cured,
the Board determines, in good faith, that the Executive has failed to cure such ground within a period of thirty (30) days from the date
of such written notice, and (iii) the Company terminates the Executive’s employment with the Company within nine (9) months from
the date on which the Board, excluding Executive, first received notice of the event constituting Cause. For purposes of this notice
and cure provision it is agreed that any material breach of the Executive’s restrictive covenants pursuant to Sections 5
and 7 is incurable.

 

(f)
Termination of the Executive’s employment under this Agreement and the Term shall be without prejudice to: (i) any right or obligation
that has accrued or arisen on or before the termination date; (ii) any remedy of either party in respect to any prior breach of this
Agreement; and (iii) any other provisions hereof which expressly or necessarily calls for performance after the termination date or is
applicable to the enforcement of the Agreement’s provisions.

 

(g)
Termination by the Executive for Good Reason. The Executive’s employment may be terminated during the Term, by the Executive
for Good Reason in which case she shall receive from the Company the pay and benefits as set forth in in Section 9 “Severance Pay”
or Section 10 “Change of Control,” as applicable, of this Agreement. For purposes of this Agreement, “Good Reason”
means any of the following that occur without the Executive’s prior express written consent:

 

(i)
A material diminution in the Executive’s Base Salary of ten (10%) or more unless such diminution is also applied to all other employees
of the Company;

(ii)
A material diminution in the Executive’s title, reporting relationship, authority, duties or responsibilities. It is expressly
understood and agreed that if Executive ceases to hold the title of CEO of the Company, this shall constitute Good Reason as defined
herein; or

(iii)
Any other action or inaction that constitutes a material breach by the Company of this Agreement or any other agreement under which the
Executive provides services;

 

provided,
however, that Good Reason shall not exist and the Executive shall be deemed to have irrevocably waived her right to terminate the Executive’s
employment with the Company under this Agreement with respect thereto, unless: (i) the Executive has given written notice to the Company
within ninety (90) days of her becoming aware of the existence of the Good Reason event or condition(s) giving specific details regarding
the event or condition; (ii) the Company has had at least thirty (30) days to cure such Good Reason event or condition after the delivery
of such written notice and has failed to cure such event or condition to the reasonable satisfaction of the Executive within such thirty
(30) day cure period; and (iii) the Executive terminates her employment with the Company not more than nine months following the initial
existence of one or more of the conditions constituting Good Reason.

 

    	10

     

    

 

9.
SEVERANCE PAY.

 

(a)
In the event the Executive’s employment with the Company is terminated: by the Company for Cause or Disability (as defined in Sections
8(c) and 8(d) above); by non-renewal by the Executive; by the Executive pursuant to Section 8(b); by the Company pursuant
to Section 8(a)(4); Executive’s death; or upon expiration of the Term after the Renewal Term, the compensation and benefits
the Executive shall be entitled to receive from the Company shall be limited to:

 

(i)
her then-current annual base salary pursuant to Section 4 through the termination date, payable in accordance with the Company’s
standard payroll practices;

 

(ii)
any reimbursable expenses for which the Executive has not yet been reimbursed as of the termination date; and

 

(iii)
any other rights and vested benefits (if any) provided under employee benefit plans and programs of the Company, determined in accordance
with the applicable terms and provisions of such plans and programs.

 

(b)
If the Executive’s employment with the Company is terminated: during the Term by the Company without Cause pursuant to Section
8(a)(5); by the Executive for Good Reason pursuant to Section 8(g), or at the conclusion of the Initial Term because of a non-renewal
by the Company, then in addition to the amounts in Subsection (a) of this Section 9, the Executive shall also be entitled
to receive severance pay equal to six (6) months of her annual base salary pursuant to Section 4, at the rate in effect on the
date of termination and any Performance Bonus that, as of the date of termination, has been earned by the Executive but has not yet been
paid by the Company to the Executive. This severance pay shall be paid to the Executive in equal increments in accordance with the Company’s
standard payroll practices over the six-month period following the date of the termination of the Executive’s employment with the
Company, but beginning no earlier than fifteen (15) days after the Executive’s execution and non-revocation of the Release required
by Subsection (c) of this Section 9.

 

(c
) Notwithstanding anything in this Agreement to the contrary, Executive’s right to receive any severance benefits under Subsection
(b) of this Section 9 shall be conditioned upon the Executive’s continued compliance with her restrictive covenants
in Sections 5 and 7 and her execution and delivery to the Company of a general release of all claims against the Company,
its officers, directors, employees, subsidiaries and affiliates, in the form attached hereto as Exhibit A, as amended from time to time
in a manner satisfactory to the Company (the “Release”), within forty-five (45) days of her termination date, and
that she does not revoke the Release during the seven (7) day period thereafter. Subject to Section 14 below, the severance payments
under this Section 9 will begin no earlier than fifteen (15) days after the Executive has executed, delivered and not revoked
the Release as required under this Section 9.

 

(d)
No Mitigation. The Executive shall not be required to mitigate the amount of any payment provided for in this Agreement by seeking other
employment or otherwise and no such payment shall be offset or reduced by the amount of any compensation or benefits provided to the
Executive in any subsequent employment.

 

    	11

     

    

 

10.
CHANGE OF CONTROL

 

(a)
If the Executive’s employment with the Company is terminated by the Company without Cause or by the Executive for Good Reason pursuant
to Section 8(g), during the period of ninety (90) days either prior to or following a Change in Control of the Company (as that term
is defined below), in addition to the amounts in Subsection (a) of Section 9, but in lieu of any severance payments under
Subsection (b) of Section 9, the Executive shall be entitled to receive a severance payment equal to the sum of: (i) six
(6) months of her annual base salary pursuant to Section 4, at the higher of the base salary rate in effect on the termination
date or the base salary rate in effect immediately before the effective date of the Change of Control, and (ii) the Executive’s
Performance Bonus for the year which includes the effective date of the Change in Control, payable at the target level of performance.
In addition, the Executive shall also receive the amount of any Performance Bonus that, as of the date of termination, has been earned
by the Executive but has not yet been paid by the Company to the Executive. Notwithstanding anything in this Agreement to the contrary,
Executive’s right to receive any severance benefits under this Section 10(a) shall be conditioned upon the Executive’s
continued compliance with her restrictive covenants in Sections 5 and 7 and her execution and delivery to the Company of
the Release, within forty-five (45) days of her termination date, and that she does not revoke the Release during the seven (7) day period
thereafter. This severance pay shall be paid to the Executive in cash in a single lump sum payment, within sixty (60) days after the
Executive’s execution and non-revocation of the Release.

 

(b)
If the Executive holds any stock options or other stock awards granted under the Company’s 2021 Equity Incentive Plan which are
not fully vested at the time her employment with the Company is terminated by the Company without Cause or by the Executive for Good
Reason pursuant to Section 8(g), during the period of ninety (90) days either prior to or following a Change in Control, such equity
awards shall become fully vested as of the termination date.

 

(c)
For purposes of this Agreement, the term “Change in Control” shall mean a transaction or series of transactions which
constitutes a sale of control of the Company, a change in effective control of the Company, or a sale of all or substantially all of
the assets of the Company, or a transaction which qualifies as a “change in ownership” or “change in effective control”
of the Company or a “change in ownership of substantially all of the assets” of the Company under the standards set forth
in Treasury Regulation section 1.409A-3(i)(5).

 

    	12

     

    

 

(d)
If any severance payments otherwise payable to the Executive under this Agreement in connection with a Change in Control would, when
combined with any other payments or benefits the Executive becomes entitled to receive that are contingent on the same Change in Control
(such payments and benefits to be referred to as “Parachute Payments”) would: (i) constitute a “parachute payment”
within the meaning of Section 280G of the Code; and (ii) but for this sentence, be subject to the excise tax imposed by Section 4999
of the Code (the “Excise Tax”), then the cash severance payments payable to the Executive under Subsection (a)
of this Section 10 shall be reduced to such extent which would result in no portion of such severance benefits being subject
to the Excise Tax under Section 4999 of the Code (the “Reduced Amount”). Any
determination of the Excise Tax or the Reduced Amount required under this Section 10(d) shall be made in writing by the Company’s
independent public accountants, whose determination shall be conclusive and binding upon the Company and the Executive for all purposes.
For purposes of making the calculations required by this Section 10(d), the accountants may make reasonable assumptions and approximations
concerning applicable taxes and may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999
of the Code. The Company and the Executive shall furnish such information and documents as the accountants may reasonably request in
order to make a determination under this Section 10(d). The Company shall bear all costs the accountants may reasonably incur
in connection with any calculations contemplated by this Section 10(d).

 

11.
NO BREACH. Executive hereby represents and warrants to the Company that: the execution, delivery and performance of this Agreement
by Executive does not and shall not conflict with, breach, violate or cause a default under any contract, agreement, instrument, order,
judgment or decree to which Executive is a party or by which Executive is bound; and Executive has not and will not bring to or use at
the Company, directly or indirectly, any trade secrets or confidential information of any third party.

 

12.
NOTICES. All notices or communications required by or bearing upon this Agreement or between the Parties shall be in writing and
shall be deemed duly given (i) on the date of delivery if delivered personally, (ii) on the first (1st) business day following
the date of dispatch if delivered using a next-day service by a recognized next-day courier or (iii) on the earlier of confirmed receipt
or the fifth (5th) business day following the date of mailing if delivered by registered or certified mail, return receipt
requested, postage prepaid. All notices hereunder shall be delivered to the addresses set forth below, or pursuant to such other instructions
as may be designated in writing by the party to receive such notice delivered to their respective addresses set forth below:

 

(a)
if to the Executive, to:

 

Kimberly
M. Murphy

520
Carpenter Lane Unit 1F

Philadelphia
PA 19119

 

(b)
if to the Company, to:

 

Oragenics,
Inc.

4902
Eisenhower Boulevard, Suite 125

Tampa,
FL 32202

Attn:
Chairman of the Board

 

    	13

     

    

 

13.
NON-ASSIGNMENT. The Executive and the Company acknowledge the unique nature of services to be provided by the Executive under
this Agreement, the high degree of responsibility borne by her and the personal nature of her relationship to the Company’s business
and customers. Therefore, the Executive and the Company agree that Executive may not assign this Agreement or any of her rights or responsibilities
hereunder without the prior written consent of the Company. Similarly, the Company may not assign this Agreement or any of its rights
or responsibilities hereunder without the prior written consent of the Executive except to another entity that survives a merger, acquisition
or consolidation with the Company or which otherwise succeeds to all or substantially all of the Company’s assets or business.
Any purported assignment in violation hereof is void. Employer’s authorized assignees shall be authorized to enforce all restrictive
covenants herein

 

14.
COMPLIANCE WITH SECTION 409A OF THE CODE. The Executive and the Company acknowledge that each of the payments and benefits promised
to Executive under this Agreement must either comply with the requirements of Section 409A of the Code (“Section 409A”),
and the regulations thereunder or qualify for an exception from compliance. To that end, the Executive and the Company agree that the
severance payments described in Sections 9 and 10 are intended to be excepted from compliance with Section 409A as either
short-term deferrals pursuant to Treasury Regulation Section 1.409A-1(b)(4) or separation pay pursuant to Treasury Regulation Section
1.409A-1(b)(9).

 

In
the case of a payment that is not excepted from compliance with Section 409A, and that is not otherwise designated to be paid immediately
upon a permissible payment event within the meaning of Treasury Regulation Section 1.409A-3(a), the payment shall not be made prior to,
and shall, if necessary, be deferred to and paid on the later of the date sixty (60) days after the Executive’s earliest separation
from service (within the meaning of Treasury Regulation Section 1.409A-1(h)) and, if the Executive is a specified employee (within the
meaning of Treasury Regulation Section 1.409A-1(i)) of the Company on the date of her separation from service, the first day of the seventh
month following the Executive’s separation from service. Furthermore, this Agreement shall be construed and administered in such
manner as shall be necessary to effect compliance with Section 409A. Each payment in a series of payments shall be treated as a separate
payment for purposes of the application of Section 409A.

 

15.
INJUNCTIVE RELIEF. The Executive acknowledges and accepts that her compliance with Sections 5, 6 and 7 is an integral
part of the consideration to be received by the Company and is necessary to protect the equity value, business and goodwill and other
proprietary interests of the Company. The Executive and the Company each acknowledge that a breach by the other Party of this Agreement
(including a breach by the Executive of Sections 5, 6 and 7 will result in irreparable and continuing damage to the other
Party for which the remedies at law will be inadequate, and agrees that, in the event of any breach by the other Party of this Agreement,
the non-breaching Party shall be entitled to injunctive relief and to have this Agreement specifically performed, which shall be in addition
to, and not in lieu of, any other relief to which such Party shall be entitled.

 

16.
ENFORCEABILITY. If any provision of this Agreement shall be found by a court with proper jurisdiction to be invalid or unenforceable,
in whole or in part, then such provision shall be deemed to be modified, narrowed, or restricted only to the limited extent and in the
manner necessary to render the same valid and enforceable, as the case may require, and this Agreement shall be construed and enforced
to the maximum extent permitted by law as if such provision had been originally incorporated herein as so modified, narrowed, or restricted.

 

    	14

     

    

 

17.
GENERAL PROVISIONS.

 

(a)
This Agreement shall be governed by the laws of the State of Florida, without giving effect to any principles of conflicts of law that
would result in application of the law of any other jurisdiction.

 

(b)
The parties to this Agreement: (a) consent to the exclusive jurisdiction of the state and federal courts having jurisdiction over Hillsborough
County, Florida, (b) stipulate that the proper, exclusive, and convenient venue for every legal proceeding arising out of or related
to this Agreement and any aspect of Executive’s employment with the Company is Hillsborough County, Florida, for a state court
proceeding and the Middle District of Florida, Tampa Division, for a federal court proceeding, and (c) waive any defense, whether asserted
by motion or pleading, that Hillsborough County, Florida, or the Middle District of Florida, Tampa Division, does not have personal jurisdiction
over Executive or is an improper or inconvenient venue. The Executive and Company knowingly, voluntarily and intentionally waive their
right to a jury trial in any lawsuit between the Executive and the Company that arises out of or is related to this Agreement or Executive’s
employment with the Company whether at law or in equity.

 

(c)
This Agreement represents the sole agreement of the Executive and the Company concerning the subject matter hereof and supersedes all
prior communications, representations and negotiations, whether oral or written, concerning such subject matter.

 

(d)
This Agreement can only be modified or amended by the written consent of both Executive and the Company hereto which states that it constitutes
an amendment hereto.

 

(e)
No purported waiver of any provision of this Agreement shall be legally effective unless upon the Party providing such waiver has duly
executed and delivered to the other Party a written instrument which states that it constitutes a waiver of one or more provisions of
this Agreement and specifies the provision(s) that are being waived. Failure by either Party to pursue remedies or assert rights under
this Agreement shall not be construed as waiver of that Party’s rights or remedies, nor shall a Party’s failure to demand
strict compliance with the terms and conditions of this Agreement prohibit or estop that Party from insisting upon strict compliance
in the future.

 

(f)
This Agreement shall bind the Parties’ respective heirs, successors, representatives and permitted assigns.

 

(g)
No Person other than Parties and their respective heirs, successors, representatives and permitted assigns of the parties is a party
to, or shall otherwise have any rights with respect to, this Agreement.

 

(h)
This Agreement may be executed in any number of counterparts and it shall not be necessary for the parties to execute any of the same
counterparts hereof. Counterparts to this Agreement may be delivered via facsimile, electronic mail (including pdf) or other transmission
method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

 

[THE
REMAINDER OF THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK.]

 

    	15

     

    

 

IN
WITNESS WHEREOF, the Parties have executed this Executive Employment Agreement to be effective on the Effective Date, for the purposes
herein contained.

 

	COMPANY
    – Oragenics, Inc.	 	EXECUTIVE
	 	 	 	 
	By:	/s/
    Michael Sullivan	 	/s/
    Kimberly Murphy
	 	Michael
    Sullivan, Chief Financial Officer	 	Kimberly
    M. Murphy

 

[Executive
Employment Agreement Signature Page]

 

    	16

     

    

 

EXHIBIT
A

 

RELEASE

 

In
exchange for the consideration set forth in [Section 9/Section 10] of the Executive Employment Agreement dated as of June
23, 2022 (the “Employment Agreement”) between Kimberly M. Murphy (“Executive”) and Oragenics, Inc., (the “Company”),
the Executive, for herself and her heirs, assigns, executors and administrators, hereby waives and releases the Company, and its successors
and assigns, as well as any subsidiary and affiliate of the Company, and each of their respective officers, directors, agents, shareholders
and employees (the “Company Released Parties”), from any and all Claims as defined herein.

 

For
the purpose of this Release, the term “Claims” means any and all claims, debts, damages, demands, liabilities, benefits,
suits in equity, complaints, grievances, obligations, promises, agreements, rights, controversies, costs, losses, remedies, attorneys’
fees and expenses, back pay, front pay, severance pay, percentage recovery, injunctive relief, lost profits, emotional distress, mental
anguish, personal injuries, liquidated damages, punitive damages, disability benefits, interest, expert fees and expenses, reinstatement,
other compensation, suits, appeals, actions, and causes of action, of whatever kind or character, including without limitation, any dispute,
claim, charge, or cause of action arising under Civil Rights Act of 1964, Title VII (including the Civil Rights Act of 1991); the Civil
Rights Act of 1866, 42 U.S.C. §§ 1981; the Equal Pay Act of 1963; the Age Discrimination in Employment Act of 1967; the Americans
with Disabilities Act of 1990; the Rehabilitation Act of 1973; the Employee Retirement Income Security Act; the Consolidated Budget and
Reconciliation Act of 1985; the Fair Labor Standards Act; the Family and Medical Leave Act; the Labor Management Relations Act; the Employee
Polygraph Protection Act; the Racketeer Influenced and Corrupt Organizations Act; the Occupational Safety and Health Act; the Electronic
Communications Privacy Act; the Uniform Services Employment and Re-Employment Rights Act; the Sarbanes-Oxley Act; the Fair Credit Reporting
Act; the Florida Civil Rights Act (or such comparable Pennsylvania law as applicable); the Genetic Information Non-Discrimination Act;
the Worker Adjustment and Retraining Act, Florida’s Minimum Wage Act (or such comparable Pennsylvania law as applicable) all other
applicable state and federal fair employment laws, state and federal equal employment opportunity laws, and state and federal labor statutes
and regulations, and all other constitutional, federal, state, local, and municipal law claims, whether statutory, regulatory, common
law (including without limitation, breach of the Employment Agreement, other breach of express or implied contract, wrongful discharge
in violation of public policy, breach of covenant of good faith and fair dealing, promissory estoppel, quantum meruit, fraud, fraud in
the inducement, fraud in the factum, statutory fraud, negligent misrepresentation, defamation, libel, slander, slander per se, retaliation,
tortuous interference with prospective contract, tortuous interference with business relationship, tortuous interference with contract,
invasion of privacy, intentional infliction of emotional distress, and any other common law theory of recovery, whether legal or equitable,
negligent or intentional), or otherwise, whether known or unknown to the Executive, foreseen or unforeseen, fixed or contingent, liquidated
or unliquidated, directly or indirectly arising out of or relating to any and all disputes now existing between the Executive on the
one hand, and the Company or Company Released Parties on the other hand, whether related to or in any way growing out of, resulting from
or to result from the Executive’s employment with and/or termination from the Company, for or because of any matter or thing done,
omitted, or allowed to be done by the Company or the Company Released Parties, for any incidents, including those past and present, which
existed or may have existed at any time prior to and/or contemporaneously with the execution of this Release, including all past, present,
and future damages, injuries, costs, expenses, attorney’s fees, other fees, effects and results in any way related to or connected
with such incidents.

 

    	A-1

     

    

 

Notwithstanding
the foregoing, the term “Claim” shall not include:

 

	 	(a)	The
    Executive’s rights, if any, to unemployment, state disability and/or paid family leave insurance benefits pursuant to the terms
    of applicable law;
	 	 	 
	 	(b)	Any
    violation of any federal, state or local statutory and/or public policy right or entitlement that, by applicable law, may not be
    waived;
	 	 	 
	 	(c)	The
    Executive’s right to any severance benefits or equity awards under the Employment Agreement;
	 	 	 
	 	(d)	The
    Executive’s right, if any, to directors’ and officers’ liability insurance coverage or indemnification;
	 	 	 
	 	(e)	The
    Executive’s rights, if any, as an equity or security holder in the Company; and
	 	 	 
	 	(f)	Any
    Claim that is based on an act or omission that occurs after the date the Executive execute this Release.

 

The
Executive understands that the Executive is releasing Claims of which the Executive may not be aware. This is the Executive’s knowing
and voluntary intent, even though the Executive recognizes that someday the Executive might learn that some or all of the facts that
the Executive currently believes to be true are untrue and even though the Executive might then regret having signed this Release. Nevertheless,
the Executive is assuming that risk and the Executive agrees that this Release shall remain effective in all respects in any such case.
It is further understood and agreed that the Executive is waiving all rights under any statute or common law principle which otherwise
limits application of a general release to claims which the releasing party does not know or suspect to exist in her favor at the time
of signing the release which, if known by her, would have materially affected her settlement with the party being released and the Executive
understands the significance of doing so.

 

The
Executive represents that the Executive nor her heirs, agents, representatives or attorneys have filed or caused to be filed any lawsuit,
with respect to any Claims that the Executive is releasing in this Agreement. The Executive further represents that she has not assigned
or transferred any Claim released by this Release.

 

    	A-2

     

    

 

Executive
understands that nothing contained in this Release limits her ability to communicate with, or file a complaint or charge with the Equal
Employment Opportunity Commission (“EEOC”), the National Labor Relations Board, the Occupational Safety and Health
Administration, the Securities and Exchange Commission (“SEC”), the Department of Justice (“DOJ”)
or any other federal, state, or local governmental agency or commission (collectively, “Government Agencies”), or
otherwise participate in any investigation or proceeding that may be conducted by Government Agencies, including providing documents
or other information, without notice to the Company; provided, however, that Executive may not disclose Company information that is protected
by the attorney-client privilege, except as expressly authorized by law. Executive retains the right to communicate with the Government
Agencies and such communication can be initiated by Executive or in response to the government and is not limited by any non-disparagement
or confidentiality obligation under the Employment Agreement or this Release. This Release does not limit the Executive’s right
to receive an award from the SEC or DOJ for information provided to them. Executive hereby waives and releases her right to recover money
or other relief in any action that might be brought on her behalf by any other person or entity including, but not limited to, the State
of Florida, State of Pennsylvania, EEOC, the Department of Labor or any other federal, state or local agency or department.

 

This
Release shall be governed by the laws of the State of Florida, without giving effect to any principles of conflicts of law that would
result in application of the law of any other jurisdiction. The Executive: (a) consents to the exclusive jurisdiction of the state and
federal courts having jurisdiction over Hillsborough County, Florida, (b) stipulates that the proper, exclusive, and convenient venue
for every legal proceeding arising out of or related to this Release and any aspect of Executive’s employment with the Company
is Hillsborough County, Florida, for a state court proceeding and the Middle District of Florida, Tampa Division, for a federal court
proceeding, and (c) waives any defense, whether asserted by motion or pleading, that Hillsborough County, Florida, or the Middle District
of Florida, Tampa Division, does not have personal jurisdiction over Executive or is an improper or inconvenient venue. The Executive
and Company knowingly, voluntarily and intentionally waive their right to a jury trial in any lawsuit between the Executive and the Company
that arises out of or is related to this Release or Executive’s employment with the Company whether at law or in equity. In
any litigation between the Executive and the Company or Other Released Parties arising out of or related to this Release, the losing
party shall reimburse the prevailing party for all reasonable attorneys’ fees and costs incurred by that prevailing party in enforcing,
defending, or prosecuting this Release.

 

Whenever
possible, each provision of this Release shall be interpreted in, such manner as to be effective and valid under applicable law, but
if any provision of this Release is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any
jurisdiction, such invalidity, illegality or unenforceability shall not affect any other provision or any other jurisdiction, but this
Release shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never
been contained herein.

 

    	A-3

     

    

 

Older
Workers’ Benefit Protection Act Provisions. In accordance with the requirements of the Older Workers’ Benefits Protection
Act, the Age Discrimination in Employment Act, the Executive expressly acknowledges the following:

 

(a)
Consideration. The consideration provided pursuant to [Section 9/Section 10] of the Employment Agreement is in addition
to any consideration that the Executive would otherwise be entitled.

 

(b)
Independent Legal Counsel. The Company has advised and encouraged the Executive to consult with an attorney before signing this
Release. The Executive acknowledges that if she desired to, the Executive had an adequate opportunity to do so.

 

(c)
Consideration Period. The Executive has forty-five (45) calendar days from Executive’s termination date to consider this
Release before signing it. The Executive may use as much or as little of this forty-five (45) day period as she wishes before signing.
If the Executive does not sign and return this Release within this forty-five (45) day period, the Release will not become effective
or enforceable and the Executive will not receive the severance benefits pursuant to [Section 9/Section 10] the Employment
Agreement.

 

(d)
Revocation Period and Effective Date. The Executive has seven (7) calendar days after signing this Release to revoke it. To revoke
this Release after signing it, the Executive must deliver a written notice of revocation to the Company, so that it is actually received
before the seven (7) day period expires. This Release shall not become effective until the eighth (8th) calendar day after
the Executive signs it (“Revocation Expiration Date”). If the Executive revokes this Release on or before the Revocation
Expiration Date, it will not become effective or enforceable and Executive will not receive the severance benefits pursuant to [Section
9/Section 10] the Employment Agreement.

 

(e)
Future Claims Reserved. The Executive is not waiving or releasing any claims that may arise after the date that this Release is
executed.

 

The
Company has advised the Executive to consult with an attorney prior to executing the Release. The Executive acknowledges and represents
that she: (a) has fully and carefully read this Release prior to signing it, (b) has been, or has had the opportunity to be, advised
by independent legal counsel of her own choice as to the legal effect and meaning of each of the terms and conditions of this Release,
and (c) is signing and entering into this Release as a free and voluntary act without duress or undue pressure or influence of any kind
or nature whatsoever and has not relied on any promises, representations or warranties regarding the subject matter hereof other than
as set forth in this Release.

 

	EXECUTIVE
	 

 

	Dated:	 

 

    	A-4

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