Document:

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                                                                    Exhibit 10.3

                         EXECUTIVE EMPLOYMENT AGREEMENT

      This Executive Employment Agreement (this "Agreement") is made as of the
1st day of July, 2006 by and between Mymetics Corporation, a Delaware
corporation (the "Company"), and Dr. Sylvain Fleury, a natural person, residing
in Switzerland ("Executive").

      WHEREAS, Executive has been acting as the Company's Chief Scientific
Officer under an informal agreement since November 3, 2003 and;

      WHEREAS, the Company wishes to employ Executive as its Chief Scientific
Officer and Executive wishes to accept such employment and;

      WHEREAS, the Company and Executive wish to set forth the terms of
Executive's employment and certain additional agreements between Executive and
the Company.

      NOW, THEREFORE, in consideration of the foregoing recitals and the
representations, covenants and terms contained herein, the parties hereto agree
as follows:

1. Employment Period

            The Company will employ Executive, and Executive will serve the
Company, under the terms of this Agreement commencing July 1st, 2006 (the
"Commencement Date") for a term of five (5) years unless earlier terminated
under Section 4 hereof (the "Initial Term"). Notwithstanding anything to the
contrary contained in the preceding sentence, this Agreement shall be
automatically renewed for successive one-year terms (each such one-year term a
"Renewal Term"), unless sooner terminated in accordance with the provisions of
Section 4 hereof, or unless either party gives to the other party written notice
of intent not to renew the Agreement at least sixty (60) days prior to the end
of the Initial Term or any Renewal Term. The period of time between the
Commencement Date as defined above and the termination date of Executive's
employment as defined in section 4 hereunder shall be referred to herein as the
"Employment Period".

2. Duties and Status

            The Company hereby engages Executive as its Chief Scientific Officer
on the terms and conditions set forth in this Agreement, including the terms and
conditions of the Employee Proprietary Information, Inventions, and
Non-Competition Agreement attached hereto as Exhibit A and incorporated herein
(the "Non-Disclosure Agreement"). During the term of the Employment Period,
Executive shall report directly to the Board of Directors of the Company (the
"Board") and shall exercise such authority, perform such executive functions and
discharge such responsibilities as are reasonably associated with Executive's
position, commensurate with the authority vested in Executive pursuant to this
Agreement and consistent with the governing documents of the Company.

3. Compensation and Benefits

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(a) Salary. During the Employment Period, the Company shall pay to Executive, as
compensation for the performance of his duties and obligations under this
Agreement, a base salary of (euro)18,000 per month, payable monthly or as
frequently as the Company's cash flow allows.

(b) Cash Bonuses. Executive shall be entitled to cash bonuses equal to 3% of all
payments to be received from industrial partners with whom the Company will sign
a partnership, a sale or a licensing agreement in relation to its current
technology. Such payments shall be made on an ongoing basis during the
Employment Period and the Severance Period as defined under section 5(a)(i)(A).

(c) Other Bonus. During the Employment Period, Executive shall be entitled to
discretionary bonuses in the form of shares of the Company's common stock as
decided from time to time by the Compensation Committee of the Board of
Directors, based on Executive's contribution to the Company's success.

(d) Other Benefits. During the Employment Period, Executive shall be entitled to
participate in all of the employee benefit plans, programs and arrangements of
the Company in effect during the Employment Period which are generally available
to senior executives of the Company, subject to and on a basis consistent with
the terms, conditions and overall administration of such plans, programs and
arrangements. In addition, during the Employment Period, Executive shall be
entitled to fringe benefits and perquisites comparable to those of other senior
executives of the Company including, but not limited to, twenty five (25) days
of vacation pay plus five (5) sick/personal days, to be used in accordance with
the Company's vacation pay policy for senior executives.

(e) Business Expenses. During the Employment Period, the Company shall promptly
reimburse Executive for all appropriately documented, reasonable business
expenses incurred by Executive in the performance of his duties under this
Agreement, including telecommunications expenses and travel expenses.

4. Termination of Employment

(a) Termination for Cause. The Company may terminate Executive's employment
hereunder for Cause (defined below). For purposes of this Agreement and subject
to Executive's opportunity to cure as provided in Section 4(c) hereof, the
Company shall have Cause to terminate Executive's employment hereunder if such
termination shall be the result of:

(i) a material breach of fiduciary duty or material breach of the terms of this
Agreement or any other agreement between Executive and the Company (including
without limitation any agreements regarding confidentiality, inventions
assignment and non-competition), which, in the case of a material breach of the
terms of this Agreement or any other agreement, remains uncured for a period of
thirty (30) days following receipt of written notice from the Board specifying
the nature of such breach;

(ii) the commission by Executive of any act of embezzlement, fraud, larceny or
theft on or from the Company;

(iii) substantial and continuing neglect or inattention by Executive of the
duties of his employment or the willful misconduct or gross negligence of
Executive in connection with the performance of such duties which remains
uncured for a period of thirty (30) days following receipt of written notice
from the Board specifying the nature of such breach;

(iv) the commission and indictment by Executive of any crime involving moral
turpitude or a felony; and

(v) Executive's performance or omission of any act which, in the judgment of the
Board, if known to the customers, clients,

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stockholders or any regulators of the Company, would have a material and adverse
impact on the business of the Company.

(b) Termination for Good Reason. Executive shall have the right at any time to
terminate his employment with the Company upon not less than thirty (30) days
prior written notice of termination for Good Reason (defined below). For
purposes of this Agreement and subject to the Company's opportunity to cure as
provided in Section 4(c) hereof, Executive shall have Good Reason to terminate
his employment hereunder if such termination shall be the result of:

(i) The Company's material breach of this Agreement; or

(ii) A requirement by the Company that Executive perform any act or refrain from
performing any act that would be in violation of any applicable law.

(iii) A change of control of the Company's Board of Directors, up to 12 months
after such change has taken place.

(iv) Board decisions which, in the view of Executive, are likely to jeopardize
past and/or potential future company products.

(v) Lack of recognition or credits for work accomplished by Executive.

(c) Notice and Opportunity to Cure. Notwithstanding the foregoing, it shall be a
condition precedent to the Company's right to terminate Executive's employment
for Cause and Executive's right to terminate for Good Reason that (i) the party
seeking termination shall first have given the other party written notice
stating with specificity the reason for the termination ("breach") and (ii) if
such breach is susceptible of cure or remedy, a period of fifteen (15) days from
and after the giving of such notice shall have elapsed without the breaching
party having effectively cured or remedied such breach during such 15-day
period, unless such breach cannot be cured or remedied within fifteen (15) days,
in which case the period for remedy or cure shall be extended for a reasonable
time (not to exceed an additional thirty (30) days) provided the breaching party
has made and continues to make a diligent effort to effect such remedy or cure.

(d) Voluntary Termination. Executive, at his election, may terminate his
employment upon not less than sixty (60) days prior written notice of
termination other than for Good Reason.

(e) Termination Upon Death or Permanent and Total Disability. The Employment
Period shall be terminated by the death of Executive. The Employment Period may
be terminated by the Board of Directors of the Company if Executive shall be
rendered incapable of performing his duties to the Company by reason of any
medically determined physical or mental impairment that can be reasonably
expected to result in death or that can be reasonably be expected to last for a
period of either (i) six (6) or more consecutive months from the first date of
Executive's absence due to the disability or (ii) nine (9) months during any
twelve-month period (a "Permanent and Total Disability"). If the Employment
Period is terminated by reason of a Permanent and Total Disability of Executive,
the Company shall give ninety (90) days' advance written notice to that effect
to Executive.

(f) Termination Without Cause. The Company, at its election, may terminate
Executive's employment otherwise than for Cause, upon not less than ninety (90)
days written notice of termination.

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5. Consequences of Termination

(a) Without Cause or for Good Reason. In the event of a termination of
Executive's employment during the Employment Period by the Company other than
for Cause pursuant to Section 4(f) or by Executive for Good Reason pursuant to
Section 4(b) the Company shall pay Executive (or his estate) and provide him
with the following, provided that Executive enter into a release of claims
agreement agreeable to the Company and Executive:

(i) Lump-Sum Payment. A lump-sum cash payment, payable ten (10) days after
Executive's termination of employment, equal to the sum of the following:

(A) Salary. The equivalent of the greater of (i) twenty four (24) months or (ii)
the remaining term of the Agreement (the "Severance Period") of Executive's
then-current base salary; plus

(B) Earned but Unpaid Amounts. Any previously earned but unpaid salary through
Executive's final date of employment with the Company, and any previously earned
but unpaid bonus amounts prior to the date of Executive's termination of
employment.

(ii) Bonuses. Executive (or his estate) shall be entitled to the bonuses defined
under section 3(b) until the end of the partnership, sale or license agreement
under which they were earned.

(iii) Other Benefits. The Company shall provide continued coverage for the
Severance Period under all health, life, disability and similar employee benefit
plans and programs of the Company on the same basis as Executive was entitled to
participate immediately prior to such termination, provided that Executive's
continued participation is possible under the general terms and provisions of
such plans and programs. In the event that Executive's participation in any such
plan or program is barred, the Company shall use its commercially reasonable
efforts to provide Executive with benefits substantially similar (including all
tax effects) to those which Executive would otherwise have been entitled to
receive under such plans and programs from which his continued participation is
barred. In the event that Executive is covered under substitute benefit plans of
another employer prior to the expiration of the Severance Period, the Company
will no longer be obligated to continue the coverages provided for in this
Section 5(a)(ii).

(b) Other Termination of Employment. In the event that Executive's employment
with the Company is terminated during the Employment Period by the Company for
Cause (as provided for in Section 4(a) hereof) or by Executive other than for
Good Reason (as provided for in Section 4(b) hereof), the Company shall pay or
grant Executive any earned but unpaid salary and bonus through Executive's final
date of employment with the Company, plus one month salary per year of
employment (including the initial period under an informal agreement with the
Board of Directors), plus the bonuses defined under section 3(b) which shall
remain due to Executive or his estate until the end of the partnership, sale or
license agreement under which they were earned.

(c) Withholding of Taxes. All payments required to be made by the Company to
Executive under this Agreement shall be subject only to the withholding of such
amounts, if any, relating to tax, excise tax and other payroll deductions as may
be required by law or regulation.

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(d) No Other Obligations. The benefits payable to Executive under this Agreement
are not in lieu of any benefits payable under any employee benefit plan, program
or arrangement of the Company, except as specifically provided herein, and
Executive will receive such benefits or payments, if any, as he may be entitled
to receive pursuant to the terms of such plans, programs and arrangements.
Except for the obligations of the Company provided by the foregoing and this
Section 5, the Company shall have no further obligations to Executive upon his
termination of employment.

(e) No Mitigation or Offset. Executive shall have no obligation to mitigate the
damages provided by this Section 5 by seeking substitute employment or otherwise
and there shall be no offset of the payments or benefits set forth in this
Section 5 except as provided in Section 5(a)(ii).

6. Governing Law

            This Agreement and the rights and obligations of the parties hereto
shall be construed in accordance with the laws of the State of Delaware, without
giving effect to the principles of conflict of laws.

7. Indemnity and Insurance

            The Company shall indemnify and save harmless Executive for any
liability incurred by reason of any act or omission performed by Executive while
acting in good faith on behalf of the Company and within the scope of the
authority of Executive pursuant to this Agreement and to the fullest extent
provided under the Bylaws, the Certificate of Incorporation and the General
Corporation Law of the State of Delaware, except that Executive must have in
good faith believed that such action was in, or not opposed to, the best
interests of the Company, and, with respect to any criminal action or
proceeding, had no reasonable cause to believe that such conduct was unlawful.

            The Company shall provide that Executive is covered by any Directors
and Officers insurance that the Company provides to other senior executives
and/or board members.

8. Cooperation with the Company After Termination of Employment

            Following termination of Executive's employment for any reason,
Executive shall fully cooperate with the Company, unless Executive has already
started new professional activities under non-competition agreement that limits
the cooperation, term employed under in all matters relating to the winding up
of Executive's pending work on behalf of the Company including, but not limited
to, any litigation in which the Company is involved, and the orderly transfer of
any such pending work to other employees of the Company as may be designated by
the Company. Following any notice of termination of employment by either the
Company or Executive, the Company shall be entitled to such full time or part
time services of Executive as the Company may reasonably require during all or
any part of the sixty (60)-day period following any notice of termination,
provided that Executive shall be compensated for such services at the same rate
as in effect immediately before the notice of termination.

9. Notice

            All notices, requests and other communications pursuant to this
Agreement shall be sent by registered mail to the

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following addresses:

     If to Executive:

           Dr. Sylvain Fleury, Ph. D.
           ***

     If to the Company:

           Mymetics Corporation
           14, rue de la Colombiere,
           1260 Nyon, Switzerland
           Attn:  Christian Rochet, President and CEO
           Phone: 011-41-22-363-13-10
           Fax:   011-41-22-363-13-11

10. Waiver of Breach

            Any waiver of any breach of this Agreement shall not be construed to
be a continuing waiver or consent to any subsequent breach on the part of either
Executive or of the Company.

11. Non-Assignment / Successors

            Neither party hereto may assign his or its rights or delegate his or
its duties under this Agreement without the prior written consent of the other
party; provided, however, that (i) this Agreement shall inure to the benefit of
and be binding upon the successors and assigns of the Company upon any sale or
all or substantially all of the Company's assets, or upon any merger,
consolidation or reorganization of the Company with or into any other
corporation, all as though such successors and assigns of the Company and their
respective successors and assigns were the Company; and (ii) this Agreement
shall inure to the benefit of and be binding upon the heirs, assigns or
designees of Executive to the extent of any payments due to them hereunder. As
used in this Agreement, the term "Company" shall be deemed to refer to any such
successor or assign of the Company referred to in the preceding sentence.

12. Severability

            To the extent any provision of this Agreement or portion thereof
shall be invalid or unenforceable, it shall be considered deleted there from and
the remainder of such provision and of this Agreement shall be unaffected and
shall continue in full force and effect.

13. Counterparts

            This Agreement may be executed in one or more counterparts, each of
which shall be deemed to be an original but all of which together will
constitute one and the same instrument.

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14. Arbitration

            Executive and the Company shall submit to mandatory and exclusive
binding arbitration, any controversy or claim arising out of, or relating to,
this Agreement or any breach hereof where the amount in dispute is greater than
or equal to (euro)50,000, provided, however, that the parties retain their right
to, and shall not be prohibited, limited or in any other way restricted from,
seeking or obtaining equitable relief from a court having jurisdiction over the
parties. In the event the amount of any controversy or claim arising out of, or
relating to, this Agreement, or any breach hereof, is less than (euro)50,000,
the parties hereby agree to submit such claim to mediation. Such arbitration
shall be governed by the Federal Arbitration Act and conducted through the
American Arbitration Association ("AAA") in the District of Columbia, before a
single neutral arbitrator, in accordance with the National Rules for the
Resolution of Employment Disputes of the American Arbitration Association in
effect at that time. The parties may conduct only essential discovery prior to
the hearing, as defined by the AAA arbitrator. The arbitrator shall issue a
written decision which contains the essential findings and conclusions on which
the decision is based. Mediation shall be governed by, and conducted through,
the AAA. Judgment upon the determination or award rendered by the arbitrator may
be entered in any court having jurisdiction thereof.

15. Entire Agreement

            This Agreement and all schedules and other attachments hereto
constitute the entire agreement by the Company and Executive with respect to the
subject matter hereof and, except as specifically provided herein, supersedes
any and all prior agreements or understandings between Executive and the Company
with respect to the subject matter hereof, whether written or oral. This
Agreement may be amended or modified only by a written instrument executed by
Executive and the Company.

IN WITNESS WHEREOF, the parties have executed this Agreement as of July 1, 2006.

SYLVAIN FLEURY                           MYMETICS CORPORATION

/Sylvain Fleury/                         /s/ Christian Rochet

-----------------                        ---------------------------
                                         By:   Christian J.-F. Rochet
                                         Its:  Chief Executive Officer

                                         /s/ Ernst Luebke

                                         ---------------------------
                                         By:   Ernst Luebke
                                         Its:  Chief Financial Officer

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                                    EXHIBIT A

  Employee Proprietary Information, Inventions, and Non-Competition Agreement

                                 (See attached)<PAGE>

                                                                    Exhibit 10.4

                              MYMETICS CORPORATION
                        EMPLOYEE PROPRIETARY INFORMATION,
                    INVENTIONS AND NON-COMPETITION AGREEMENT

In consideration of my employment or continued employment by Mymetics
Corporation (the "Company"), and the compensation now and hereafter paid to me,
I hereby agree as follows:

1. NONDISCLOSURE.

      1.1 Recognition of Company's Rights; Nondisclosure. At all times during my
employment and thereafter, I will hold in strictest confidence and will not
disclose, use, lecture upon or publish any of the Company's Proprietary
Information (defined below), except as such disclosure, use or publication may
be required in connection with my work for the Company, or unless an officer of
the Company expressly authorizes such in writing. I will obtain Company's
written approval before publishing or submitting for publication any material
(written, verbal, or otherwise) that relates to my work at Company and/or
incorporates any Proprietary Information. I hereby assign to the Company any
rights I may have or acquire in such Proprietary Information and recognize that
all Proprietary Information shall be the sole property of the Company and its
assigns. I have been informed and acknowledge that the unauthorized taking of
the Company's trade secrets may subject me to civil and/or criminal penalties.

      1.2 Proprietary Information. The term "Proprietary Information" shall mean
any and all confidential and/or proprietary knowledge, data or information of
the Company. By way of illustration but not limitation, "Proprietary
Information" includes (a) trade secrets, inventions, mask works, ideas,
processes, formulas, source and object codes, data, programs, other works of
authorship, know-how, improvements, discoveries, developments, designs and
techniques (hereinafter collectively referred to as "Inventions"); and (b)
information regarding plans for research, development, new products, marketing
and selling, business plans, budgets and unpublished financial statements,
licenses, prices and costs, suppliers and customers; and (c) information
regarding the skills and compensation of other employees of the Company.
Notwithstanding the foregoing, it is understood that, at all such times, I am
free to use information which is generally known in the trade or industry, which
is not gained as result of a breach of this Agreement, and my own, skill,
knowledge, know-how and experience to whatever extent and in whichever way I
wish.

      1.3 Third Party Information. I understand, in addition, that the Company
has received and in the future will receive from third parties confidential or
proprietary information ("Third Party Information") subject to a duty on the
Company's part to maintain the confidentiality of such information and to use it
only for certain limited purposes. During the term of my employment and
thereafter, I will hold Third Party Information in the strictest confidence and
will not disclose to anyone (other than Company personnel who need to know such
information in connection with their work for the Company) or use, except in
connection with my work for the Company, Third Party Information unless
expressly authorized by an officer of the Company in writing.

      1.4 No Improper Use of Information of Prior Employers and Others. During
my employment by the Company I will not improperly use or disclose any
confidential information or trade secrets, if any, of any former employer or any
other person to whom I have an obligation of confidentiality, and I will not
bring onto the premises of the Company any unpublished

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documents or any property belonging to any former employer or any other person
to whom I have an obligation of confidentiality unless consented to in writing
by that former employer or person. I will use in the performance of my duties
only information which is generally known and used by persons with training and
experience comparable to my own, which is common knowledge in the industry or
otherwise legally in the public domain, or which is otherwise provided or
developed by the Company.

2. ASSIGNMENT OF INVENTIONS.

      2.1 Proprietary Rights. The term "Proprietary Rights" shall mean all trade
secret, patent, copyright, mask work and other intellectual property rights or
"moral rights" throughout the world. "Moral rights" refers to any rights to
claim authorship of an Invention or to object to or prevent the modification of
any Invention, or to withdraw from circulation or control the publication or
distribution of any Invention, and any similar right, existing under judicial or
statutory law of any country in the world, or under any treaty, regardless of
whether or not such right is denominated or generally referred to as a "moral
right."

      2.2 Prior Inventions. Inventions, if any, patented or unpatented, which I
made prior to the commencement of my employment with the Company are excluded
from the scope of this Agreement. To preclude any possible uncertainty, I have
set forth on Exhibit 1 (Previous Inventions) attached hereto a complete list of
all Inventions that I have, alone or jointly with others, conceived, developed
or reduced to practice or caused to be conceived, developed or reduced to
practice prior to the commencement of my employment with the Company, that I
consider to be my property or the property of third parties and that I wish to
have excluded from the scope of this Agreement (collectively referred to as
"Prior Inventions"). If disclosure of any such Prior Invention would cause me to
violate any prior confidentiality agreement, I understand that I am not to list
such Prior Inventions in Exhibit 1 but am only to disclose a cursory name for
each such invention, a listing of the party(ies) to whom it belongs and the fact
that full disclosure as to such inventions has not been made for that reason. A
space is provided on Exhibit 1 for such purpose. If no such disclosure is
attached, I represent that there are no Prior Inventions. If, in the course of
my employment with the Company, I incorporate a Prior Invention into a Company
product, process or machine, the Company is hereby granted and shall have a
nonexclusive, royalty-free, irrevocable, perpetual, worldwide license (with
rights to sublicense through multiple tiers of sublicensees) to make, have made,
modify, use and sell such Prior Invention. Notwithstanding the foregoing, I
agree that I will not incorporate, or permit to be incorporated, Prior
Inventions in any Company Inventions without the Company's prior written
consent.

      2.3 Assignment of Inventions. Subject to Sections 2.4, and 2.6, I hereby
assign and agree to assign in the future (when any such Inventions or
Proprietary Rights are first reduced to practice or first fixed in a tangible
medium, as applicable) to the Company all my right, title and interest in and to
any and all Inventions (and all Proprietary Rights with respect thereto) whether
or not patentable or registrable under copyright or similar statutes, made or
conceived or reduced to practice or learned by me, either alone or jointly with
others, during the period of my employment with the Company. Inventions assigned
to the Company, or to a third party as directed by the Company pursuant to this
Section 2, are hereinafter referred to as "Company Inventions."

      2.4 Unassigned Inventions. I recognize that this Agreement will not be
deemed to require assignment of any invention that was developed entirely on my
own time without using the Company's equipment, supplies, facilities, or trade
secrets and neither related to the Company's actual or anticipated business,
research or development, nor resulted from work performed by me for the Company.

<PAGE>

      2.5 Obligation to Keep Company Informed. During the period of my
employment and for six (6) months after termination of my employment with the
Company, I will promptly disclose to the Company fully and in writing all
Inventions authored, conceived or reduced to practice by me, either alone or
jointly with others. In addition, I will promptly disclose to the Company all
patent applications filed by me or on my behalf within a year after termination
of employment. The Company will keep in confidence and will not use for any
purpose or disclose to third parties without my consent any confidential
information disclosed in writing to the Company pursuant to this Agreement.

      2.6 Government or Third Party. I also agree to assign all my right, title
and interest in and to any particular Company Invention to a third party,
including without limitation the United States, as directed by the Company.

      2.7 Works for Hire. I acknowledge that all original works of authorship
which are made by me (solely or jointly with others) within the scope of my
employment and which are protectable by copyright are "works made for hire,"
pursuant to United States Copyright Act (17 U.S.C., Section 101).

    2.8 Enforcement of Proprietary Rights. I will assist the Company in every
proper way to obtain, and from time to time enforce, United States and foreign
Proprietary Rights relating to Company Inventions in any and all countries. To
that end I will execute, verify and deliver such documents and perform such
other acts (including appearances as a witness) as the Company may reasonably
request for use in applying for, obtaining, perfecting, evidencing, sustaining
and enforcing such Proprietary Rights and the assignment thereof. In addition, I
will execute, verify and deliver assignments of such Proprietary Rights to the
Company or its designee. My obligation to assist the Company with respect to
Proprietary Rights relating to such Company Inventions in any and all countries
shall continue beyond the termination of my employment, but the Company shall
compensate me at a reasonable rate after my termination for the time actually
spent by me at the Company's request on such assistance.

In the event the Company is unable for any reason, after reasonable effort, to
secure my signature on any document needed in connection with the actions
specified in the preceding paragraph, I hereby irrevocably designate and appoint
the Company and its duly authorized officers and agents as my agent and attorney
in fact, which appointment is coupled with an interest, to act for and in my
behalf to execute, verify and file any such documents and to do all other
lawfully permitted acts to further the purposes of the preceding paragraph with
the same legal force and effect as if executed by me. I hereby waive and
quitclaim to the Company any and all claims, of any nature whatsoever, which I
now or may hereafter have for infringement of any Proprietary Rights assigned
hereunder to the Company.

3. RECORDS. I agree to keep and maintain adequate and current records (in the
form of notes, sketches, drawings and in any other form that may be required by
the Company) of all Proprietary Information developed by me and all Inventions
made by me during the period of my employment at the Company, which records
shall be available to and remain the sole property of the Company at all times.

4. DUTY OF LOYALTY DURING EMPLOYMENT. I understand that my employment with the
Company requires my full attention and effort. I agree that during the period of
my employment by the Company I will not, without the Company's express written
consent, engage in any employment or business activity other than for the
Company, including but not limited to employment or business activity which is
competitive with, or would otherwise conflict with, my employment by the
Company.

<PAGE>

5. NO SOLICITATION OF EMPLOYEES, CONSULTANTS, CONTRACTORS OR CUSTOMERS. I agree
that for the period of my employment by the Company and for twelve (12) months
after the date my employment by the Company ends for any reason (including but
not limited to voluntary termination by me or involuntary termination by the
Company) other than a termination by the Company without Cause as that term is
defined in my Employment Agreement with the Company, I will not, either directly
or through others, (i) solicit or attempt to solicit any employee, independent
contractor or consultant of the Company to become an employee, consultant or
independent contractor to or for any other person or entity, and (ii) solicit
any customers of the Company with whom I had contact or whose identity I learned
as a result of my employment with the Company.

      The parties agree that for purposes of this Agreement, a customer is any
person or entity to which the Company has provided goods or services at any time
during the period commencing six (6) months prior to my employment with the
Company and ending on the date my employment with the Company ends.

6. NON-COMPETE PROVISION. I agree that for the period of my employment with the
Company, and for the period of one (1) year after the later of (i) the date my
employment ends for any reason (including but not limited to voluntary
termination by me or involuntary termination by the Company) other than a
termination by the Company without Cause as that term is defined in my
Employment with the Company, or (ii) the date a court of competent jurisdiction
enters an order enforcing this provision, I will not provide services, similar
to those I provided to the Company, to any person or entity in competition with
the Company within the United States of America and Europe. I acknowledge that
this non-compete provision is limited to the types of activities and services I
provided in my employment with the Company. The Company currently specializes in
research and development of human and animal vaccines and therapies in the field
of retroviral and viral autoimmune diseases, provided, however, the parties
acknowledge that this may change as the Company develops. Therefore, the parties
agree that a person or entity is in competition with the Company if it provides
services or goods similar to those provided by the Company at the time my
employment with the Company ends.

7. NO CONFLICTING AGREEMENT OR OBLIGATION. I represent that my performance of
all the terms of this Agreement and as an employee of the Company does not and
will not breach any agreement or obligation of any kind made prior to my
employment by the Company, including agreements or obligations I may have with
prior employers or entities for which I have provided services. I have not
entered into, and I agree I will not enter into, any agreement or obligation
either written or oral in conflict herewith.

8. RETURN OF COMPANY DOCUMENTS. When I leave the employ of the Company, I will
deliver to the Company any and all drawings, notes, memoranda, specifications,
devices, formulas, and documents, together with all copies thereof, and any
other material containing or disclosing any Company Inventions, Third Party
Information or Proprietary Information of the Company. I further agree that any
property situated on the Company's premises and owned by the Company, including
disks and other storage media, filing cabinets or other work areas, is subject
to inspection by Company personnel at any time with or without notice. Prior to
leaving, I will cooperate with the Company in completing and signing the
Company's termination statement.

9. LEGAL AND EQUITABLE REMEDIES. I recognize that in the course of employment
with the Company, I will have access to Proprietary Information, to Third Party
Information, and to employees, consultants, contractors, clients, and customers
of the Company. I also recognize that the services I will be employed to provide
are personal and unique. I understand that because of this the Company may
sustain irreparable injury if I violate this Agreement. In order to limit or
prevent such

<PAGE>

irreparable injury, the Company shall have the right to enforce this Agreement
and any of its provisions by injunction, specific performance or other equitable
relief, without bond and without prejudice to any other rights and remedies that
the Company may have for a breach of this Agreement.

10. NOTICES. Any notices required or permitted hereunder shall be given to the
appropriate party at the address specified in the signature blocks below or at
such other address as the party shall specify in writing. Such notice shall be
deemed given upon personal delivery to the appropriate address or if sent by
certified or registered mail, three (3) days after the date of mailing.

11. NOTIFICATION OF NEW EMPLOYER. In the event that I leave the employ of the
Company, I authorize the Company to provide notice of my rights and obligations
under this Agreement to my subsequent employer and to any other entity or person
to whom I provide services.

12. GENERAL PROVISIONS.

      12.1 Governing Law; Consent to Personal Jurisdiction. This Agreement will
be governed by and construed according to the laws of the State of Delaware,
without regard to its conflict of laws principles. I hereby expressly consent to
the personal jurisdiction of the state and federal courts for Delaware in any
lawsuit filed there against me by Company arising from or related to this
Agreement.

      12.2 Severability. In case any one or more of the provisions, subsections,
or sentences contained in this Agreement shall, for any reason, be held to be
invalid, illegal or unenforceable in any respect, such invalidity, illegality or
unenforceability shall not affect the other provisions of this Agreement, and
this Agreement shall be construed as if such invalid, illegal or unenforceable
provision had never been contained herein. Moreover, if any one or more of the
provisions contained in this Agreement shall for any reason be held to be
excessively broad as to duration, geographical scope, activity or subject, it
shall be construed by limiting and reducing it, so as to be enforceable to the
extent compatible with the applicable law as it shall then appear.

      12.3 Successors and Assigns. This Agreement will be binding upon my heirs,
executors, administrators and other legal representatives and will be for the
benefit of the Company, its successors, and its assigns.

      12.4 Survival. The provisions of this Agreement shall survive the
termination of my employment and the assignment of this Agreement by the Company
to any successor in interest or other assignee.

      12.5 Waiver. No waiver by the Company of any breach of this Agreement
shall be a waiver of any preceding or succeeding breach. No waiver by the
Company of any right under this Agreement shall be construed as a waiver of any
other right. The Company shall not be required to give notice to enforce strict
adherence to all terms of this Agreement.

      12.6 Entire Agreement. The obligations pursuant to Sections 1 and 2 of
this Agreement shall apply to any time during which I was previously employed,
or am in the future employed, by the Company as a consultant if no other
agreement governs nondisclosure and assignment of inventions during such period.
This Agreement is the final, complete and exclusive agreement of the parties
with respect to the subject matter hereof and supersedes and merges all prior
agreements or

<PAGE>

discussions between us on this subject matter. No modification of or amendment
to this Agreement, nor any waiver of any rights under this Agreement, will be
effective unless in writing and signed by the party to be charged. Any
subsequent change or changes in my duties, salary or compensation will not
affect the validity or scope of this Agreement.

      This Agreement shall be effective as of the first day of my employment
with the Company, namely: July 1, 2006.

      I HAVE READ THIS AGREEMENT CAREFULLY AND UNDERSTAND ITS TERMS. I HAVE
COMPLETELY FILLED OUT EXHIBIT A TO THIS AGREEMENT.

Dated:

(Signature)

(Printed Name)
____________________________________________
(Address)

ACCEPTED AND AGREED TO:

MYMETICS CORPORATION, a Delaware corporation
By:
Title:
Dated:
Address:14, rue de la Colombiere,1260 Nyon, Switzerland

<PAGE>

                                       EXHIBIT 1
                                  PREVIOUS INVENTIONS

TO: MYMETICS COPORATION.
FROM:
DATE:
SUBJECT: Previous Inventions

1. Except as listed in Section 2 below, the following is a complete list of all
inventions or improvements relevant to the subject matter of my employment by
Mymetics Corporation (the "Company") that have been made or conceived or first
reduced to practice by me alone or jointly with others prior to my engagement by
the Company:

                  No inventions or improvements.
                  See below:

      Additional sheets attached.

2. Due to a prior confidentiality agreement, I cannot complete the disclosure
under Section 1 above with respect to inventions or improvements generally
listed below, the proprietary rights and duty of confidentiality with respect to
which I owe to the following party(ies):

     Invention or Improvement   Party(ies)
                                Relationship
1.
2.
3.

      Additional sheets attached.

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