Document:

EXHIBIT
4.6

 

SOLIGENIX,
INC.

DESCRIPTION
OF SECURITIES

 

The
following description of the terms of our securities is not complete and is qualified in its entirety by reference to our Certificate
of Incorporation, as amended (the “Certificate of Incorporation”), and our Bylaws, as amended (the “Bylaws”),
both of which are filed as exhibits to our Annual Reports on Form 10-K.

 

Under
our Certificate of Incorporation and Bylaws, we are authorized capital to issue 75,350,000 shares of capital stock, consisting
of 75,000,000 shares of common stock, par value $0.001 per share, 230,000 shares of undesignated preferred stock (none of which
are currently outstanding), 10,000 shares of Series B Convertible Preferred Stock, par value $0.05 per share (none of which are
currently outstanding), 10,000 shares of Series C Convertible Preferred Stock, par value $0.05 per share (none of which are currently
outstanding), and 100,000 shares of Series A Junior Participating Preferred Stock, par value $0.001 per share.

 

Our
common stock is listed on The Nasdaq Capital Market under the symbol “SNGX.” Our common stock warrants issued in December
2016 are listed on The Nasdaq Capital Market under the symbol “SNGXW”. All outstanding shares of common stock are
validly issued, fully paid, and nonassessable.

 

Common
Stock

 

Voting
Rights

 

Holders
of our common stock are entitled to one vote for each share held in the election of directors and in all other matters to be voted
on by the stockholders. There is no cumulative voting in the election of directors. The affirmative vote of the holders of a plurality
of the shares of common stock represented at an annual meeting is required to elect each director.

 

Dividends
and Liquidation Rights

 

Holders
of common stock are entitled to receive dividends as may be declared from time to time by our board of directors out of funds
legally available therefor. In the event of liquidation, dissolution or winding up of the corporation, holders of common stock
are to share in all assets remaining after the payment of liabilities.

 

Conversion,
Redemption and Other Rights

 

Holders
of common stock have no pre-emptive or conversion rights and are not subject to further calls or assessments. There are no redemption
or sinking fund provisions applicable to the common stock. The rights of the holders of the common stock are subject to any rights
that may be fixed for holders of preferred stock.

 

Preferred
Stock

 

Our
Certificate of Incorporation authorizes the issuance of 230,000 shares of undesignated preferred stock, 10,000 shares of Series
B Convertible Preferred Stock, par value $0.05 per share (“Series B Preferred Stock”), 10,000 shares of Series C Convertible
Preferred Stock, par value $0.05 per share (“Series C Preferred Stock”), and 100,000 shares of Series A Junior Participating
Preferred Stock, par value $0.001 per share (“Junior Preferred Stock”). Our board of directors is empowered, without
stockholder approval, to designate and issue additional series of preferred stock with dividend, liquidation, conversion, voting
or other rights, including the right to issue convertible securities with no limitations on conversion, which could adversely
affect the voting power or other rights of the holders of our common stock, substantially dilute a common stockholder’s
interest and depress the price of our common stock.

 

No
shares of the Series B Preferred Stock, the Series C Preferred Stock or the Junior Preferred Stock are outstanding. Due to the
terms of the Series C Preferred Stock, no additional shares of Series C Preferred Stock can be issued.

 

     

     

    

  

Series
B Preferred Stock

 

Our
Certificate of Incorporation authorizes the issuance of 10,000 shares of Series B Preferred Stock, none of which are outstanding
and 6,411 of which have been converted to common stock and therefore are not reissuable.

 

Voting
Rights

 

Each
holder of Series B Preferred Stock is entitled to the number of votes equal to the number of whole shares of common stock into
which the shares of Series Preferred Stock held by such holder is then convertible (as adjusted from time to time pursuant to
our Certificate of Incorporation) with respect to any and all matters presented to the stockholders for their action or consideration.
Except as provided by law, holders of Series B Preferred Stock vote together with the holders of common stock as a single class.

 

Dividends
and Liquidation Rights

 

The
holders of the Series B Preferred Stock are entitled to a dividend of 8% per annum, payable annually in shares of Series B Preferred
Stock. In addition, when and if our board of directors shall declare a dividend payable with respect to the then outstanding shares
of common stock, the holders of the Series B Preferred Stock are entitled to the amount of dividends per share as would be payable
on the largest number of whole shares of common stock into which each share of Series B Preferred Stock could then be converted.

 

In
the event of liquidation, dissolution or winding up of the company, the holders of Series B Preferred Stock then outstanding will
be entitled to be paid an amount equal to $1,000 per share (subject to adjustment in the event of any stock dividend, stock split,
combination or other similar recapitalization affecting such shares pursuant to our Certificate of Incorporation), plus any dividends
declared but unpaid thereon before any payment is made to the holders of common stock, Junior Preferred Stock or any other class
or series of stock ranking on liquidation junior to the Series B Preferred Stock. After the holders of the Series B Preferred
Stock have been paid in full, the remaining assets of the company will be distributed to the holders of Junior Preferred Stock
and common stock, subject to the preferences of the Junior Preferred Stock.

 

Conversion,
Redemption and Other Rights 

 

Each
share of Series B Preferred Stock is convertible into 1.333 shares of common stock. The conversion ratio is subject to an adjustment
upon the issuance of additional shares of common stock for a price below the closing price of the common stock and equitable adjustment
for stock splits, dividends, combinations, reorganizations and similar events.

 

Subject
to certain conditions, after the second anniversary of the issuance of the Series B Preferred Stock, the Company will have the
right, but not the obligation, to redeem the then-outstanding shares of Series B Preferred Stock for cash in an amount calculated
pursuant to the terms of our Certificate of Incorporation.

 

Junior
Preferred Stock

 

Voting
Rights

 

The
holders of the Junior Preferred Stock will have 10,000 votes per share of Junior Preferred Stock on all matters submitted to a
vote of our stockholders, including the election of directors.

 

    2

     

    

 

Dividends
and Liquidation Rights

 

If
our board of directors declares or pays dividends on common stock, the holders of the Junior Preferred Stock would be entitled
to receive a per share dividend payment of 10,000 times the dividend declared per share of common stock. In the event we make
a distribution on the common stock, the holders of the Junior Preferred Stock will be entitled to a per share distribution, in
like kind, of 10,000 times such distribution made per share of common stock. In the event of any merger, consolidation or other
transaction in which shares of common stock are exchanged, each share of Junior Preferred Stock will be entitled to receive 10,000
times the amount received per share of common stock. These rights are protected by customary anti-dilution provisions.

 

Upon
any liquidation, dissolution or winding up, no distribution may be made to the holders of shares of stock ranking junior to the
Junior Preferred Stock unless the holders of the Junior Preferred Stock have received the greater of (i) $37.00 per one one-thousandth
share plus an amount equal to accrued and unpaid dividends and distributions thereon, and (ii) an amount equal to 10,000 times
the aggregate amount to be distributed per share to holders of common stock. Further, no distribution may be made to the holders
of stock ranking on a parity upon liquidation, dissolution or winding up with the Junior Preferred Stock, unless distributions
are made ratably on the Junior Preferred Stock and all other shares of such parity stock in proportion to the total amounts to
which the holders of the Junior Preferred Stock are entitled above and to which the holders of such parity shares are entitled.

 

Outstanding
Warrants

 

2016
Warrants

 

On
December 16, 2016, we consummated a public offering of an aggregate of 1,670,000 shares of common stock, together with warrants
to purchase up to 2,370,005 shares of common stock. In connection with the offering, we also issued the underwriter a warrant
to purchase up to 33,400 shares of common stock. We refer to the warrants issued to the investors and the underwriter in connection
with the offering as the “2016 Warrants.” The 2016 Warrants are listed on The Nasdaq Capital Market under the symbol
“SNGXW”.

 

As
of March 23, 2021, 2,403,392 shares of common stock remained issuable upon the exercise of the 2016 Warrants. The 2016 Warrants
expire in 2021.

 

As
of March 23, 2021, the exercise price of the 2016 Warrants was $3.95 per share. The exercise price and the number of shares of
common stock purchasable upon the exercise of each 2016 Warrant are subject to adjustment upon the happening of certain events,
such as stock dividends, distributions, and splits.

 

Other
Warrants

 

As
of March 23, 2021, 3,328,072 shares of common stock were issuable upon the exercise of warrants other than the 2016 Warrants.
Such warrants expire between 2022 and 2023. As of March 23, 2021, the weighted average exercise price of such warrants was $2.25
per share. The exercise price and the number of shares of common stock purchasable upon the exercise of each such warrant are
subject to adjustment upon the happening of certain events, such as stock dividends, distributions, and splits.

 

Anti-Takeover
Provisions

 

Provisions
in our Certificate of Incorporation and Bylaws may discourage certain types of transactions involving an actual or potential change
of control of our company which might be beneficial to us or our security holders.

 

As
noted above, our Certificate of Incorporation permits our board of directors to issue shares of any class or series of preferred
stock in the future without stockholder approval and upon such terms as our board of directors may determine. The rights of the
holders of common stock will be subject to, and may be adversely affected by, the rights of the holders of any class or series
of preferred stock that may be issued in the future.

 

Our
Bylaws generally provide that any board vacancy, including a vacancy resulting from an increase in the authorized number of directors,
may be filled by a majority of the directors, even if less than a quorum.

 

    3

     

    

 

Additionally,
our Bylaws provide that stockholders must provide timely notice in writing to bring business before an annual meeting of shareholders
or to nominate candidates for election as directors at an annual meeting of shareholders. Notice for an annual meeting is timely
if our Secretary receives the written notice not less than 45 days and no more than 75 days prior to the anniversary of the date
that we mailed proxy materials for the preceding year’s annual meeting. However, if the date of the annual meeting is advanced
more than thirty (30) days prior to, or delayed by more than thirty (30) days after, the anniversary of the preceding year’s
annual meeting, notice by the stockholder to be timely must be delivered not later than the close of business on the later of
(i) the 90th day prior to such annual meeting or (ii) the 10th day following the day on which public announcement
of the date of such annual meeting is first made. Our Bylaws also specify the form and content of a shareholder’s notice.
These provisions may prevent shareholders from bringing matters before an annual meeting of shareholders or from making nominations
for directors at an annual meeting of shareholders.

  

Delaware
Anti-Takeover Statute

 

We
are subject to the provisions of Section 203 of the Delaware General Corporation Law (the “DGCL”) regulating corporate
takeovers. In general, Section 203 prohibits a publicly held Delaware corporation from engaging, under certain circumstances,
in a business combination with an interested stockholder for a period of three years following the date the person became an interested
stockholder unless:

 

		●	prior
to the date of the transaction, our board of directors approved either the business combination or the transaction which resulted
in the stockholder becoming an interested stockholder;

 

		●	upon
completion of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder
owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, calculated as provided
under Section 203; or

 

		●	at
or subsequent to the date of the transaction, the business combination is approved by our board of directors and authorized at
an annual or special meeting of stockholders, and not by written consent, by the affirmative vote of at least two-thirds of the
outstanding voting stock which is not owned by the interested stockholder.

 

Generally,
a business combination includes a merger, asset or stock sale, or other transaction resulting in a financial benefit to the interested
stockholder. An interested stockholder is a person who, together with affiliates and associates, owns or, within three years prior
to the determination of interested stockholder status, did own 15% or more of a corporation’s outstanding voting stock.
We expect the existence of this provision to have an anti-takeover effect with respect to transactions our board of directors
does not approve in advance. We also anticipate that Section 203 may also discourage attempts that might result in a premium over
the market price for the shares of common stock held by stockholders.

 

Forum
Selection Provisions 

 

As
permitted by the DGCL, our Bylaws require, to the fullest extent permitted by law, unless we consent in writing to the selection
of an alternative forum, that the Court of Chancery of the State of Delaware, shall be the sole and exclusive forum for (i) any
derivative action or proceeding brought on behalf of the company, (ii) any action asserting a claim for breach of a fiduciary
duty owed by any director, officer, other employee or stockholder of the company to the company or the our stockholders, (iii)
any action asserting a claim arising pursuant to any provision of the DGCL, our Certificate of Incorporation or our By-laws or
(iv) any action asserting a claim governed by the internal affairs doctrine.

 

Further,
our Bylaws provided that, unless we consent in writing to the selection of an alternative forum, the federal district courts of
the United States of America shall, to the fullest extent permitted by law, be the sole and exclusive forum for the resolution
of any complaint asserting a cause of action arising under the Securities Act.

 

Exclusions
or Limitations to Forum Selection Provisions

 

Section
27 of the Exchange Act creates exclusive federal jurisdiction over all suits brought to enforce any duty or liability created
by the Exchange Act or the rules and regulations thereunder. Accordingly, the exclusive forum provisions in our Bylaws do not
apply to claims arising under the Exchange Act. The forum selection provisions, however, are intended to apply to the fullest
extent permitted by law, including to actions or claims arising under the Securities Act. However, it is possible that a court
could find our forum selection provisions to be inapplicable or unenforceable with respect to actions or claims arising under
the Securities Act. Even if a court accepts that our forum selection provisions apply to actions or claims arising under the Securities
Act, our stockholders shall not be deemed to have waived compliance with the federal securities laws and the rules and regulations
thereunder.

 

Transfer
Agent

 

The
transfer agent and registrar for our common stock is American Stock Transfer & Trust Company, LLC. Its address is 6201 15th
Avenue, Brooklyn, NY 11219 and its telephone number is (718) 921-8200.

 

 

4amar_ex101f

 

Exhibit 10.1 (f)

 

 

 

EMPLOYMENT AGREEMENT

 

This
Agreement (the "Agreement") is effective as of the 1st day of
January 2021 (“Effective Date”) by and between, DR.
STEPHEN T. CHEN, Ph.D. (the "EMPLOYEE"), and AMARILLO BIOSCIENCES,
INC., a Texas Corporation ("EMPLOYER").

 

RECITALS

 

WHEREAS,
the EMPLOYER is in need of assistance in the area of a CHAIRMAN,
PRESIDENT, CEO AND CFO; and

 

WHEREAS,
EMPLOYEE has agreed to perform work for the EMPLOYER;

 

NOW,
THEREFORE, the parties hereby agree as follows:

 

1.            

EMPLOYEE's
Services. EMPLOYEE shall
serve as a FULL-TIME, EXEMPT,
AT-WILL EMPLOYEE and will work
from the EMPLOYER’s office in Amarillo, Texas and/or at other
locations as directed by the EMPLOYER. EMPLOYEE shall be
responsible for complying and implementing the EMPLOYER’s
programs, policies, and projects as summarized in
Exhibit
“A” of this
Agreement ("Scope of Work") and as may be otherwise needed and
requested by EMPLOYER. This contract is for the personal services
of the EMPLOYEE and shall not be assigned by the EMPLOYEE to any
other person or entity.

 

2.            

Consideration.

 

A.           EMPLOYEE
Salary. In consideration
of the Services to be performed by EMPLOYEE under this Agreement
the EMPLOYER will pay EMPLOYEE the following:

 

(i)
Monthly Salary: A monthly salary payable to EMPLOYEE in the amount
of $20,000, payable bi-monthly;

 

(ii)
Monthly Stock Grant: $8,333.33 per month payable in shares of
ABI’s unregistered, voting common stock, such shares being
priced at the average of all trading day closing quotes on the
OTC-BB for the month preceding date of issuance and such shares to
be issued on February 1, 2021, March 1, 2021 and April 1, 2021 (or
as soon as thereafter practicable);

 

(iii)
EMPLOYEE benefits: Pursuant to the ABI employee benefits plan or
policy which may include hospital, surgical, medical, dental, group
life insurance or other benefits on terms at least as favorable as
those accorded to other employees of ABI, subject to insurability
and the execution of any agreement required therefor.

 

 

ABI
– DR STEPHEN T. CHEN Ph.D. Employment Agreement –
Effective January 1 2021

Initials:
EMPLOYER _________; EMPLOYEE __________

 

 

B.           Expenses. 
Each year, and from time to time, the EMPLOYER will establish a
budget for operating its programs and EMPLOYEE shall be bound by
the purposes and amounts for any such budget decision. In the event
that EMPLOYEE expends her own funds for pre-approved and
reimbursable expenses, EMPLOYEE will submit for EMPLOYER’s
review and pre-approval original receipts and a written
reimbursement request detailing reimbursable expenses. If the
EMPLOYER provides a credit or debit card any use of the same shall
be limited to the EMPLOYER’s pre-approved budget and for
EMPLOYER business only. EMPLOYEE shall submit a monthly written
expense report including original receipts.

 

3.            

EMPLOYEE
Relationship. Nothing
contained herein or any document executed in connection herewith,
shall be construed to create a partnership or joint venture
relationship between the EMPLOYER and EMPLOYEE.

 

4.            

Term. This Agreement shall be effective for
three (3)
months commencing
January 1,
2021 through
March 31,
2021. Either party may
terminate this Agreement upon the earlier of: (i)
ten (10)
days prior written notice for
termination without cause and for the convenience of either party,
(ii) immediately
if EMPLOYER terminates this Agreement
for cause which includes, but is not limited to, breach of any of
the agreements and covenants in this Agreement, acts of dishonesty,
malfeasance, misfeasance, negligence, or material
misrepresentation, or (iii) immediately upon written notice of the
date that EMPLOYEE retires.

 

5.            

Competent
Work. All work will be
done in a competent fashion and all services are subject to final
approval by an authorized representative of the EMPLOYER prior to
payment. In the event that the work-product or reports of EMPLOYEE
do not meet the standards and requirements of the EMPLOYER, the
EMPLOYER may issue a “Stop Work Order” and EMPLOYEE
shall cease any and all activity specified in such notice until
such time that the Parties agree to continue or terminate
EMPLOYEE’s performance EMPLOYEE services.

 

6.            

Representations and
Warranties. The EMPLOYEE
will make no representations, warranties, or commitments that bind
the EMPLOYER without the consent of the Board of Directors of the
EMPLOYER. Furthermore, U.S. law requires
companies to employ only individuals who may legally work in the
United States – either U.S. citizens, or foreign citizens who
have the necessary authorization. EMPLOYEE represents that her
employment with the EMPLOYER is in compliance with U.S. law.
EMPLOYEE represents that all communications during the course of
hiring, including EMPLOYEE’s resume / curriculum vitae and
references, are true and correct. Any breach of this section shall
be cause for immediate termination and cancellation of this
Agreement. The EMPLOYER is hereby authorized to verify, at any
time, any representation made by EMPLOYEE to induce the EMPLOYER to
enter into this Agreement.

 

7.            

No Waiver. Failure to invoke any right, condition, or
covenant in this Agreement by either Party shall not be deemed to
imply or constitute a waiver of any rights, condition, or covenant
and neither Party may rely on such failure.

 

 

ABI
– DR STEPHEN T. CHEN Ph.D. Employment Agreement –
Effective January 1 2021

Initials:
EMPLOYER _________; EMPLOYEE __________

 

 

8.            

Notices.  For Notices required under this Agreement
(other than written reports and routine business communications)
shall be deemed effective when (a) personally delivered or
deposited, postage prepaid, in the first class mail of the United
States properly, (b) delivered by facsimile or electronic mail and
addressed to the appropriate party at the address set forth
below:

 

Notices as to EMPLOYEE:

 

Dr.
Stephen Chen, Chairman, President, CEO and CFO

Amarillo
Biosciences, Inc. Taiwan Branch

7F.,
No. 47, Ln. 77, Sec. 2, Zhongshan N. Rd., Zhongshan
Dist.,

Taipei
City 104, Taiwan (R.O.C.).

Email: stcacts@amarbio.com

 

Notices to the EMPLOYER:

 

Bernard
Cohen

VP
- Administration

Amarillo
Biosciences, Inc.

4134
Business Park Drive

Amarillo,
Texas 79110

Phone: 
806-376-1741  Ext. 16

Fax:       
806-376-9301

Email: bcohen@amarbio.com

 

With Copies to:

 

Jun
Y. Lee

468 North Camden Drive, 2nd
Floor

Beverly
Hills CA 90210

Fax:
213-607-3105

Email: junylee@gmail.com

 

 

9.

EMPLOYER Supervisor.
Supervision will be provided to the
EMPLOYEE on an as-needed basis. The EMPLOYEE’s primary
supervisor for contract compliance shall be designated by the
EMPLOYER.

 

10.

Enforceability. If
any provision of this Agreement is held by a court of competent
jurisdiction to be unenforceable, the reminder of the Agreement
shall remain in full force and effect and shall in no way be
impaired

 

11.

Entire Agreement and
Amendments. This Agreement
constitutes the entire agreement of the Parties with regard to the
subject matter hereof, and replaces and supersedes all other
agreements or understandings, whether written or oral. No amendment
or extension of this Agreement shall be binding unless in writing
and signed by both Parties. EMPLOYEE agrees to the attached
Exhibit
“A” (“Scope
of Work”), Exhibit “B”
(Standard Terms and Conditions).
EMPLOYEE shall strictly comply with any and all policies,
procedures, standards and other requirements determined by
EMPLOYER.

 

 

ABI
– DR STEPHEN T. CHEN Ph.D. Employment Agreement –
Effective January 1 2021

Initials:
EMPLOYER _________; EMPLOYEE __________

 

 

12.

Conditions Precedent.
Execution of all of the following
agreements are conditions precedent for the enforceability of this
Agreement, are material terms of this Agreement and are
incorporated herein by this reference: Settlement Agreement and
Mutual General Release and Intellectual Property Assignment
Agreement, in a form and content satisfactory to
EMPLOYER.

 

13.

Binding Effect,
Assignment. This Agreement
shall be binding upon and shall inure to the benefit of EMPLOYEE
and the EMPLOYER and to the extent applicable each Party’s
heirs, successors and assigns. Assignment of any right or
obligation under this Agreement is expressly prohibited without the
prior written consent of both Parties.

 

14.

Governing Law,
Severability. This
Agreement shall be governed by the laws of the State of Texas,
irrespective of its Choice of Law rules. The invalidity or
unenforceability of any provision of this Agreement shall not
affect the validity or enforceability of any other
provision.

 

IN
WITNESS WHEREOF, the parties have executed this Agreement as of the
date written above:

 

	
 

	

Amarillo Biosciences, Inc.

	
 

	
 

	
EMPLOYEE:

	
 

	
By:

	
/s/ John Junyong Lee

	
 

	
By:

	
/s/ 
Stephen T. Chen

	
 

	
 

	
John Junyong
Lee

	
 

	
 

	Dr.
Stephen T. Chen, Ph.D.	
 

	
 

	
Secretary                                                                                     

	
 

	
 

	

	
 

	
 

	
 

	
 

	
 

	

	
 

	
Date:

	
12/31/2020

	
 

	
Date:

	
12/31/2020

	
 

 

 

ABI
– DR STEPHEN T. CHEN Ph.D. Employment Agreement –
Effective January 1 2021

Initials:
EMPLOYER _________; EMPLOYEE __________

 

 

EXHIBIT “A”

 

SCOPE OF WORK

 

1.

Executive
management of all aspects of EMPLOYER

2.

Executive
and statutory oversight of federal and state securities compliance
and reportings

3.

Coordination
with EMPLOYER employees, consultants, accountants, auditors,
attorney(ies) and vendors

4.

Support
to EMPLOYER Board of Directors

 

 

ABI
– DR STEPHEN T. CHEN Ph.D. Employment Agreement –
Effective January 1 2021

Initials:
EMPLOYER _________; EMPLOYEE __________

 

 

EXHIBIT “B”

 

STANDARD TERMS AND CONDITIONS

 

These Standard Terms and Conditions are made and incorporated by
this reference in the EMPLOYEE AGREEMENT (“Agreement”)
attached hereto.

 

1.0

PROTECTION OF EMPLOYER INFORMATION AND PROPERTY

 

1.1

Trade
Secrets. EMPLOYEE hereby agrees
and covenants not to disclose to third-parties or otherwise use to
the detriment of EMPLOYER any of the EMPLOYER’s data, forms,
processes, procedures, business plans or information, and methods
of operation whether or not marked “confidential” or
“trade secret”, and all of the foregoing is agreed to
treated as confidential and trade secrets of EMPLOYER by
EMPLOYEE.

 

1.2

Intellectual
Property. EMPLOYEE shall
immediately cease and desist using any of EMPLOYER’s trade
name, trade and service marks, and any other intellectual or
intangible property (whether or not registered) upon termination of
this Agreement. Any original works, as that term is defined under
the U.S. Copyright laws, that are created by EMPLOYEE in the
performance of this Agreement is agreed to be a “work made
for hire” and shall vest ownership to EMPLOYER upon creation.
Any other intellectual property created by EMPLOYEE that is not
subject to the copyright laws, are made by EMPLOYEE for the
exclusive benefit of EMPLOYER and EMPLOYEE hereby grants to the
EMPLOYER an irrevocable, exclusive, unlimited, and royalty-free
license to EMPLOYER for such works.

 

1.3

Use of Trade
Equipment. EMPLOYEE agrees and
covenants that its use of EMPLOYER’s trade equipment,
inclusive of EMPLOYER’s information technology, computer, and
communications systems, is for the exclusive benefit and purpose of
further EMPLOYER’s business. EMPLOYEE further agrees that any
personal use of EMPLOYER’s trade equipment is not
permitted.

 

2.0

EMPLOYEE’S DUTIES UPON TERMINATION.

 

2.1

Return of EMPLOYER
Property. Upon termination,
EMPLOYEE shall immediately return to EMPLOYER any and all data,
information, computer records and data, business records and files,
and any other document, record, trade equipment, supplies, keys,
modes of access, or any other material that was furnished by or
work products (including digital photographs, data, worksheets,
draft and final work product versions) created for the EMPLOYER
during the term of the Agreement. All of the foregoing shall at all
times by conclusively owned by the EMPLOYER and shall be returned
and submitted to the EMPLOYER at the conclusion of each task or
sub-task assigned under the Agreement. No files, documents, or
other materials will be removed from the EMPLOYER office to perform
the scope of work under this Agreement.

 

 

 

ABI
– DR STEPHEN T. CHEN Ph.D. Employment Agreement –
Effective January 1 2021

Initials:
EMPLOYER _________; EMPLOYEE __________

 

 

2.2

Termination of Right
of Access. Upon termination,
EMPLOYEE’s right of access to EMPLOYER’s information
technology, computer and communications systems, trade equipment,
business premises, records, files and any other property of
EMPLOYER shall be automatically terminated without further
notice.

 

2.3

Transfer of Business
Assignments. EMPLOYEE agrees
that upon termination, EMPLOYER has the unlimited right to assign
any of EMPLOYEE’s projects, assignments, or other matters (in
whole, or in part) to another person or entity as solely determined
by EMPLOYER. EMPLOYEE hereby understands and agrees that EMPLOYEE
does not have any property interest whatsoever in any of the
projects, assignment, business relationships, intangible and
tangible property, and any other matter made, created, or performed
during the term of this Agreement.

 

3.0

MISCELLANEOUS PROVISIONS.

 

3.1

Exclusive and Binding
Arbitration.
THE PARTIES AGREE
TO BINDING ARBITRATION AS THE EXCLUSIVE DISPUTE RESOLUTION FORUM TO
SETTLE AND RESOLVE ANY AND ALL DISPUTES ARISING FROM THE AGREEMENT
AND THE EMPLOYER-EMPLOYEE RELATIONSHIP BETWEEN THE PARTIES. IT IS
FURTHER AGREED THAT TEXAS LAW SHALL GOVERN THIS AGREEMENT
(IRRESPECTIVE OF ITS CONFLICT OF LAW RULES), AND THAT THE
JURISDICTION AND VENUE FOR BINDING ARBITRATION SHALL BE THE CITY OF
DALLAS, STATE OF TEXAS. THE PARTIES AGREE TO UTILIZE JAMS MEDIATION
AND ARBITRATION SERVICES TO SETTLE ALL DISPUTES. THE PARTIES
EXPRESSLY AGREE TO WAIVE THEIR RIGHTS TO A JURY
TRIAL.

 

3.2

Injunctive and
Equitable Relief.
Notwithstanding Section 3.1, EMPLOYEE also agrees that any breach
by EMPLOYEE of Sections 1.0 and 2.0 of this Agreement, including
such sub-parts, would create irreparable and immediate harm to
EMPLOYER and as such EMPLOYEE consents to any injunctive or
equitable relief that may be available to
EMPLOYER.

 

3.3

Attorney’s Fees
and Costs. The prevailing party
under any dispute shall be entitled to its reasonable
attorney’s fees and costs, including costs of investigation
of such dispute.

 

3.4

Collection of
Claims. In the event that
EMPLOYEE adjudged the prevailing party in any action, EMPLOYEE
hereby agrees that her sole source to satisfy any judgment shall be
the operating checking account of the EMPLOYER. EMPLOYEE expressly
waives any rights to seek collection of any judgment against
EMPLOYER’s intellectual property rights or
interests.

 

 

ABI
– DR STEPHEN T. CHEN Ph.D. Employment Agreement –
Effective January 1 2021

Initials:
EMPLOYER _________; EMPLOYEE __________

 

 

3.5

Survival.
This Agreement shall survive and inure to the benefit of the
successors, assigns, heirs, and/or estates of the
parties.

 

3.6

Statute of
Limitations. Notwithstanding
any statutory or common-law rule to the contrary, the parties agree
that any right of action must be commenced within one (1) year of
the act, omission, event, or circumstance that gave rise to such
cause of action.

 

3.7

Liquidated Damages;
Settlement, Release and Discharge of EMPLOYER. The parties agree that the extent and cost for
injury, damage, or other adverse impacts to EMPLOYEE under this
Agreement is difficult to determine and speculative. In the
interest of settling any claims against EMPLOYER expeditiously, the
EMPLOYER may elect to pay EMPLOYEE liquidate damages and terminate
this Agreement. EMPLOYEE hereby agrees to this liquidated damages
clause and shall settle, release and discharge EMPLOYER from any
and all liabilities upon EMPLOYER’s payment. As such, the
parties expressly agree that the extent of EMPLOYER’s
liability to EMPLOYEE for injury, damage, or other adverse impact,
whether incurred during the course of performance of this Agreement
or arising from wrongful termination or other breach of this
Agreement by EMPLOYER shall be (2) months Salary. These provisions
and waiver shall apply to any claims, whether known by EMPLOYEE,
and do include an express waiver of any reservation of rights under
Section 1542 of the California Civil Code which reads as
follows: “A GENERAL RELEASE DOES
NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO
EXIST IN HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF
KNOW BY HIM MUCH HAVE MATERIALLY AFFECTED HER SETTLEMENT WITH THE
DEBTOR.”

 

3.8

Pro-rated Salary and
Medical Contribution. In the
event this Agreement is terminated prior to the expiration of the
Term, any salary, stock grants, benefits, and/or medical
contribution payments due EMPLOYEE shall be equitably adjusted and
pro-rated.

 

 

ABI
– DR STEPHEN T. CHEN Ph.D. Employment Agreement –
Effective January 1 2021

Initials:
EMPLOYER _________; EMPLOYEE __________

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