Document:

POLICASTRO EMPLOYMENT AGREEMENT

Exhibit

10.1

 

FIRST

AMENDMENT TO EMPLOYMENT AGREEMENT

 

This First Amendment to Employment Agreement (the

“Amendment”) is made and entered into by and between Enchira Biotechnology

Corporation, a Delaware corporation (the “Company”), and Peter P. Policastro,

Ph.D. (the “Employee”), as of this 22nd day of March, 2002, to be

effective as of January 1, 2002.

 

WHEREAS, the Employee and the Company entered into

that certain Employment Agreement dated December 4, 1998 (the “Agreement”); and

 

WHEREAS, the Employee and the Company desire to amend

the Agreement to revise certain provisions thereof.

 

NOW, THEREFORE, for and in consideration of the mutual

covenants and promises and representations contained herein, and other good and

valuable consideration, the receipt and sufficiency of which are acknowledged

herein, the Company and the Employee agree as follows:

 

1.             Section

4.9 of the Agreement is hereby amended by deleting the section in its entirety

and substituting the following in replacement thereof:

 

4.9                                 In

the event of Employee’s termination of employment from the Company pursuant to

Sections 4.5 or 4.6 hereof, or in the event that Employee’s employment with the

Company, or successor entity, is terminated within twelve months following a

Change in Control, except for Cause, the Company shall be obligated to pay the

Employee severance compensation in the amount of Employee’s then current

salary  (provided, however, that if

Employee’s salary was reduced during the past year with his consent, the full

unreduced salary shall be used) and bonus (in the event that such amount is not

determinable under this Agreement, the last bonus amount paid to Employee under

this Agreement for a twelve month period shall be used), payable in a lump sum

on termination, plus continued benefits for the twelve month period following

termination. In addition, in such instance, all outstanding options to purchase

stock of the Company held by Employee and not previously vested (excluding any

that have lapsed, terminated or expired) will vest automatically upon such

termination, and Employee shall have a period of 90 days to exercise such

options.

 

2.             This

Amendment shall be governed by the laws of the State of Texas.

 

3.             Except

as modified by this Amendment, all other terms of the Agreement shall continue

in full force and effect without modification.

 

4.             This

Amendment may be executed in one or more counterparts, each of which shall be

deemed an original and all of which, taken together, constitute one and the

same instrument.

 

 

IN WITNESS WHEREOF, the

parties have executed this First Amendment to Employment Agreement in duplicate

originals, on this 22nd day of March, 2002, to be effective as

provided above.

 

	

   

  	

  ENCHIRA BIOTECHNOLOGY CORPORATION

  	 

	

   

  	

   

  	 

	

   

  	

   

  	 

	

   

  	

  By:  

  	

  /s/ William E. Nasser

  	

   

  	 

	

   

  	

   

  	

  William E. Nasser

  	 

	

   

  	

   

  	

  Chairman of the Board

  	 

	

   

  	

   

  	 

	

   

  	

   

  	 

	

   

  	

    /s/ Peter

  P. Policastro, Ph.D.

  	

   

  	 

	

   

  	

  Peter P. Policastro, Ph.D., President and Chief

  
	

   

  	

  Executive Officer

  

 

2SECOND AMENDMENT TO EMPLOYMENT AGREEMENT

Exhibit

10.2

 

THIRD

AMENDMENT TO EMPLOYMENT AGREEMENT

 

This Third Amendment to Employment Agreement (the

“Amendment”) is made and entered into by and between Enchira Biotechnology

Corporation, a Delaware corporation (the “Company”), and Daniel J. Monticello

(the “Employee”), as of this 2nd day of April, 2002, to be effective

as of January 1, 2002.

 

WHEREAS, the Employee and the Company entered into

that certain Employment Agreement dated January 31, 1996, as amended by that

certain First Amendment to Employment Agreement dated April 10, 1998, and as

further amended by that certain Second Amendment to Employment Agreement dated

April 9, 2001 (collectively, the “Agreement”), all of which are incorporated

herein in their entirety by reference; and

 

WHEREAS, the Employee and the Company desire to

further amend the Agreement to revise certain provisions thereof.

 

NOW, THEREFORE, for and in consideration of the mutual

covenants and promises and representations contained herein, and other good and

valuable consideration, the receipt and sufficiency of which are acknowledged

herein, the Company and the Employee agree as follows:

 

1.             Section 4.9 of the Agreement is hereby amended by

deleting the section in its entirety and substituting the following in

replacement thereof:

 

4.9                                 In

the event of Employee’s termination of employment from the Company pursuant to

Sections 4.5 or 4.6 hereof, or in the event that Employee’s employment with the

Company, or successor entity, is terminated within twelve months following a

Change in Control, except for Cause, the Company shall be obligated to pay the

Employee severance compensation in the amount of Employee’s then current

salary  (provided, however, that if

Employee’s salary was reduced during the past year with his consent, the full

unreduced salary shall be used) and bonus (in the event that such amount is not

determinable under this Agreement, the last bonus amount paid to Employee under

this Agreement for a twelve month period shall be used), payable in a lump sum

on termination, plus continued benefits for the twelve month period following

termination. In addition, in such instance, all outstanding options to purchase

stock of the Company held by Employee and not previously vested (excluding any

that have lapsed, terminated or expired) will vest automatically upon such

termination, and Employee shall have a period of 90 days to exercise such

options.

 

2.             This Amendment shall be governed by the laws of the

State of Texas.

 

3.             The Agreement, as amended by this Amendment, supersedes

any and all other agreements, either oral or in writing, between Company and

the Employee with respect to the employment of the Employee by the Company and

contains all of the representations, covenants and agreements between the

Company and the Employee with respect to such employment.  The Agreement, as amended hereby, may not be

later modified except by a further writing signed by 

 

 

the Company and the Employee, and no term of this Agreement may be

waived except by writing signed by the party waiving the benefit of such term.

 

4.             Except

as modified by this Amendment, all other terms of the Agreement shall continue

in full force and effect without modification.

 

5.             This

Amendment may be executed in one or more counterparts, each of which shall be

deemed an original and all of which, taken together, constitute one and the

same instrument.

 

IN WITNESS WHEREOF, the parties have executed this

Third Amendment to Employment Agreement in duplicate originals, on this 2nd

day of April, 2002, to be effective as provided above.

 

	

   

  	

  ENCHIRA BIOTECHNOLOGY CORPORATION

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By:  

  	

  /s/ Peter P.

  Policastro, Ph.D.

  	

   

  
	

   

  	

   

  	

  Peter P.

  Policastro, Ph.D.

  
	

   

  	

   

  	

  President and

  Chief Executive Officer

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

    /s/ Daniel

  J. Monticello

  	

   

  
	

   

  	

  Daniel J. Monticello

  

 

2SECOND AMENDMENT TO EMPLOYMENT AGREEMENT

Exhibit

10.3

 

SECOND

AMENDMENT TO EMPLOYMENT AGREEMENT

 

This Second Amendment to Employment Agreement (the

“Amendment”) is made and entered into by and between Enchira Biotechnology

Corporation, a Delaware corporation (the “Company”), and Paul G. Brown, III

(the “Employee”), as of this 2nd day of April, 2002, to be effective

as of January 1, 2002.

 

WHEREAS, the Employee and the Company entered into

that certain Employment Agreement dated July 18, 1995, as amended by that

certain First Amendment to Employment Agreement dated April 18, 2000

(collectively, the “Agreement”), both of which are incorporated herein in their

entirety by reference; and

 

WHEREAS, the Employee and the Company desire to

further amend the Agreement to revise certain provisions thereof.

 

NOW, THEREFORE, for and in consideration of the mutual

covenants and promises and representations contained herein, and other good and

valuable consideration, the receipt and sufficiency of which are acknowledged

herein, the Company and the Employee agree as follows:

 

1.             Section

4.9 of the Agreement is hereby amended by deleting the section in its entirety

and substituting the following in replacement thereof:

 

4.9                                 In

the event of Employee’s termination of employment from the Company pursuant to

Sections 4.5 or 4.6 hereof, or in the event that Employee’s employment with the

Company, or successor entity, is terminated within twelve months following a

Change in Control, except for Cause, the Company shall be obligated to pay the

Employee severance compensation in the amount of Employee’s then current

salary  (provided, however, that if

Employee’s salary was reduced during the past year with his consent, the full

unreduced salary shall be used) and bonus (in the event that such amount is not

determinable under this Agreement, the last bonus amount paid to Employee under

this Agreement for a twelve month period shall be used), payable in a lump sum

on termination, plus continued benefits for the twelve month period following

termination. In addition, in such instance, all outstanding options to purchase

stock of the Company held by Employee and not previously vested (excluding any

that have lapsed, terminated or expired) will vest automatically upon such

termination, and Employee shall have a period of 90 days to exercise such

options.

 

2.             This

Amendment shall be governed by the laws of the State of Texas.

 

3.             The

Agreement, as amended by this Amendment, supersedes any and all other

agreements, either oral or in writing, between Company and the Employee with

respect to the employment of the Employee by the Company and contains all of

the representations, covenants and agreements between the Company and the

Employee with respect to such employment. 

The Agreement, as amended hereby, may not be later modified except by a

further writing signed by the Company and the Employee, and no term of this

Agreement may be waived except by writing signed by the party waiving the

benefit of such term.

 

 

4.             Except

as modified by this Amendment, all other terms of the Agreement shall continue

in full force and effect without modification.

 

5.             This

Amendment may be executed in one or more counterparts, each of which shall be

deemed an original and all of which, taken together, constitute one and the

same instrument.

 

IN WITNESS WHEREOF, the parties have executed this

Second Amendment to Employment Agreement in duplicate originals, on this 2nd

day of April, 2002, to be effective as provided above.

 

	

   

  	

  ENCHIRA BIOTECHNOLOGY CORPORATION

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

  By:

  	

  /s/ Peter P.

  Policastro, Ph.D.

  	

   

  
	

   

  	

   

  	

  Peter P. Policastro,

  Ph.D.

  
	

   

  	

   

  	

  President and Chief

  Executive Officer

  
	

   

  	

   

  
	

   

  	

   

  
	

   

  	

    /s/ Paul G.

  Brown, III

  	

   

  
	

   

  	

  Paul G. Brown, III

  

 

2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00039-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00039-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00039-of-00352.parquet"}]]