Document:

Employment Agreement dated April 1, 2005

 EXHIBIT 10.10 
 EMPLOYMENT AGREEMENT 
 This Employment Agreement (“Agreement”) is made and entered
into on this 16th day of March, 2005, and effective April 1, 2005, by and between AMERIPATH, INC., a Delaware corporation (the “Company”), and R. KEITH LAUGHMAN (hereinafter, the “Executive”). 
 R E C I T A L S 
 A. The Company and the Executive wish to enter into this Agreement to reflect the Executive’s position and duties, his compensation, and other terms
and conditions of his employment as President for Esoteric Services for the Company. 
 AGREEMENT 
 NOW, THEREFORE, in consideration of the promises and mutual covenants set forth herein and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the Executive and the Company agree as follows: 
 1. Recitals. The foregoing recitals are
true and correct and are incorporated herein by this reference. 
 2. Employment. 
 2.1 Employment and Term. During the Term of Employment, the Company hereby agrees to employ the Executive and the Executive hereby agrees to serve
the Company on the terms and conditions set forth herein. 
 2.2 Duties of Executive. During the Term of Employment, the Executive
shall serve as President for Esoteric Services of the Company, shall faithfully and diligently perform all services as may be assigned to him by the Board of Directors of the Company (the “Board”), or the Board’s management designee,
and shall exercise such power and authority as may from time to time be delegated to him by the Board. The Executive shall devote his full time and attention to the business and affairs of the Company, render such services to the best of his
ability, and use his reasonable best efforts to promote the interests of the Company. The Executive shall comply with the Company’s employment policies and practices generally applicable to its officers and employees including, without
limitation, confidentiality policies. Notwithstanding the foregoing or any other provision of this Agreement, it shall not be a breach or violation of this Agreement for the Executive to (i) serve on corporate, civic or charitable boards or
committees, (ii) deliver lectures, fulfill speaking engagements or teach at educational institutions, or (iii) manage personal investments, so long as such activities do not interfere with or detract from the performance of the
Executive’s responsibilities to the Company in accordance with this Agreement. 
 3. Term of Employment. The Company employs the
Executive for a two (2) year period commencing on or before April 1, 2005, and ending March 31, 2007, subject to termination prior to such date pursuant to Section 6 hereof. At the end of such two (2) year period, this

 
Agreement will automatically continue in effect for additional successive one (1) year terms unless, at least sixty (60) days prior to the end (the
“Termination Date”) of the initial term (or any extensions thereto), the Company gives written notice to the Executive of its determination to terminate the Executive’s employment hereunder. If such notice is given, then the
Executive’s employment will terminate on the Termination Date (or on such other date as the parties mutually agree). If such notice is not given, then the Executive’s employment will continue hereunder for additional one-year terms,
subject to termination prior to such date pursuant to Section 6 hereof. 
 4. Compensation. 
 4.1 Base Salary. The Executive shall receive a base salary at the annual rate of $ 300,000 (the “Base Salary”) during the Term of
Employment, with such Base Salary payable in installments consistent with the Company’s normal payroll schedule, subject to applicable withholding and other taxes. The Base Salary shall be reviewed at least annually in accordance with the
Company’s normal review process. 
 4.2 Bonus. During the Term of Employment, for each calendar year during the Term of
Employment (the “Bonus Period”), the Board shall establish a bonus pool from which the Executive shall be eligible to receive an annual bonus potentially equal to thirty five percent (35%) of the Executive’s Base Salary (the
“Bonus”), to be determined by the Board and based upon the satisfaction by the Executive and/or the Company of the goals (the “Goals”), to be established by the Company each calendar year during the Term of Employment.
Notwithstanding the foregoing, in the event that the Goals are either exceeded or not fully achieved for a Bonus Period, the Executive may be eligible to receive a Bonus Payment in an amount in excess of or less than thirty five percent
(35%) of the Executive’s Base Salary. For the 2005 calendar year, the Executive will receive a minimum bonus of $50,000. 
 5.
Expense Reimbursement and Other Benefits. 
 5.1 Reimbursement of Expenses. Upon the submission of proper substantiation by the
Executive, and subject to such rules and guidelines as the Company may from time to time adopt with respect to the reimbursement of expenses of executive personnel, the Company shall reimburse the Executive for all reasonable expenses actually paid
or incurred by the Executive during the Term of Employment in the course of and pursuant to the business of the Company. The Executive shall account to the Company in writing for all expenses for which reimbursement is sought and shall supply to the
Company copies of all relevant invoices, receipts or other evidence reasonably requested by the Company. 
 5.2 Compensation/Benefit
Programs. During the Term of Employment, the Executive shall be entitled to participate in all medical, dental, hospitalization, accidental death and dismemberment, disability, travel and life insurance plans, and any and all other plans as are
presently and hereinafter offered by the Company to its executive personnel, including savings, stock option programs, pension, profit-sharing and deferred compensation plans, subject to the general eligibility and participation provisions set forth
in such plans. 

 5.3 Working Facilities. During the Term of Employment, the Company shall furnish the Executive
with an office and such other facilities and services suitable to his position and adequate for the performance of his duties hereunder. 
 5.4 Other Benefits. The Executive shall accrue up to four (4) weeks of paid vacation each calendar year during the Term of Employment, to be taken at such times as the Executive and the Company shall mutually determine and
provided that no vacation time shall significantly interfere with the duties required to be rendered by the Executive hereunder. Any accrued vacation time not taken by Executive during any calendar year may be carried forward into any succeeding
calendar year. Notwithstanding the foregoing, in no event shall the Executive’s accrued vacation time exceed four (4) weeks at any point in time. The Executive shall receive such additional benefits, if any, as the Board of the Company
shall from time to time determine. 
 5.5 Relocation Expenses. The Company shall pay all pre-approved moving expenses to relocate the
Executive from Minnesota to South Florida. While the Executive is in the process of relocating to South Florida, the Company shall pay the Executive’s pre-approved interim living expenses for up to two (2) months following the beginning of
the Executive’s employment with the Company. 
 5.6 Stock Options. The Company shall grant to Executive, on or before
April 1, 2005, a one-time option to acquire 125,000 shares of AmeriPath Holdings, Inc. (“Holdings”) Common Stock, $.001 par value (the “Option”), pursuant to Holding’s Stock Option Plan (the “Plan”). Unless
otherwise provided herein, terms used herein that are defined in the Plan and not defined herein shall have the same meanings attributed thereto in the Plan. The exercise price per share of the Holdings shares subject to this Option shall be $6.00
per share, or such lower amount per share in the event of a lower valuation prior to April 1, 2005. Except as otherwise provided in the Plan, this Option shall vest and be exercisable as follows: the option to acquire 25,000 shares shall vest
on April 1, 2006; the option to acquire 25,000 shall vest on April 1, 2007; the option to acquire 25,000 shares shall vest on April 1, 2008, the option to acquire 25,000 shares shall vest on April 1, 2009; and the option to
acquire 25,000 shares shall vest on April 1, 2010. This Option is not transferable and is exercisable only by the Executive. The Executive accepts this Option subject to all the terms and provisions of the Plan. The Executive hereby accepts as
binding, conclusive, and final all decisions or interpretations of the Company upon any questions arising under the Plan and this Paragraph 5.6. 
 6. Termination. 
 6.1 Termination for Cause. The Company shall at all times have the right, upon written notice to the
Executive, to terminate the Term of Employment, for Cause as defined below. For purposes of this Agreement, the term “Cause” shall mean (i) an action or omission of the Executive which constitutes a willful and material breach
of, or willful and material failure or refusal (other than by reason of his disability or incapacity) to perform his duties under, this Agreement which is not cured within fifteen (15) days after receipt by the Executive of written 

 
notice of same, (ii) fraud, embezzlement, misappropriation of funds, breach of trust or material violation of the AmeriPath Code of Ethics in connection
with the Executive’s services under the Employment Agreement or with respect to the Company, (iii) a conviction or indictment of the Executive for, or entering into a plea of nolo contendere by the Executive with respect to, a felony or
any crime which involves dishonesty, fraud, embezzlement, misappropriation of funds or breach of trust, or (iv) gross negligence, reckless or willful misconduct by the Executive in connection with the performance of the Executive’s duties
hereunder, which the Board in its reasonable discretion deems to be good and sufficient cause to terminate the Executive’s employment with the Company. Any termination for Cause shall be made by notice in writing to the Executive, which notice
shall set forth in reasonable detail all acts or omissions upon which the Company is relying for such termination. Upon any termination pursuant to this Section 6.1, the Company shall pay to the Executive any accrued and unpaid Base Salary
through the date of termination. Upon any termination effected and compensated pursuant to this Section 6.1, the Company shall have no further liability hereunder (other than for reimbursement for reasonable business expenses incurred prior to
the date of termination, subject, however, to the provisions of Section 5.1, and payment of compensation for accrued and unused vacation days). 
 6.2 Disability. The Company shall at all times have the right, upon written notice to the Executive, to terminate the Term of Employment, if the Executive shall become entitled to benefits under the
Company’s long term disability plan as then in effect, or, if the Executive shall as the result of mental or physical incapacity, illness or disability, become unable to perform his obligations hereunder for a period of 180 days in any 12-month
period. The Board shall have sole discretion based upon competent medical advice to determine whether the Executive is or continues to be disabled. Upon any termination pursuant to this Section 6.2, the Company shall (i) pay to the
Executive any accrued and unpaid Base Salary and Bonus Payment, through the effective date of termination specified in such notice, and (ii) pay the COBRA premiums for the Executive’s medical and dental insurance coverage in effect on
the termination date, for a period of twelve (12) months following the termination of the Executive’s employment with the Company. Upon any termination effected and compensated pursuant to this Section 6.2, the Company shall have no
further liability hereunder (other than for reimbursement for reasonable business expenses incurred prior to the date of termination, subject, however, to the provisions of Section 5.1, and payment of compensation for accrued and unused
vacation days). 
 6.3 Death. Upon the death of the Executive during the Term of Employment, the Company shall pay to the estate of
the deceased Executive any accrued and unpaid Base Salary and Bonus Payment, through the Executive’s date of death. Upon any termination effected and compensated pursuant to this Section 6.3, the Company shall have no further liability
hereunder (other than for reimbursement for reasonable business expenses incurred prior to the date of termination, subject, however, to the provisions of Section 5.1, and payment of compensation for accrued and unused vacation days).
Notwithstanding the foregoing, the Company shall pay the COBRA payments for the Executive’s dependents for a period of three (3) months following the Executive’s death. After such three (3) month period, the surviving dependents
may obtain COBRA at their own expense. 

 6.4 Termination Without Cause. At any time the Company shall have the right to terminate the Term
of Employment by written notice to the Executive. Upon any termination pursuant to this Section 6.4 (that is not a termination under any of Sections 6.1, 6.2, 6.3, or 6.5) the Company shall (i) pay to the Executive any accrued and unpaid
Base Salary and Bonus through the date of termination specified in such notice, (ii) continue to pay the Executive’s Base Salary for a period of twelve (12) months following the termination of the Executive’s employment with the
Company, in the manner and at such times as the Base Salary otherwise would have been payable to the Executive, and (iii) pay the COBRA premiums for the Executive’s medical and dental insurance coverage in effect on the termination date,
for a period of twelve (12) months following the termination of the Executive’s employment with the Company. Upon any termination effected and compensated pursuant to this Section 6.4, the Company shall have no further liability
hereunder (other than for reimbursement for reasonable business expenses incurred prior to the date of termination, subject, however, to the provisions of Section 5.1, and payment of compensation for accrued and unused vacation days).

 6.5 Termination by Executive. 
 a. The Executive shall at all times have the right, by written notice not less than ninety (90) days prior to the termination date, to terminate his Employment Term. 
 b. Upon termination of the Term of Employment pursuant to this Section 6.5 by the Executive, the Company shall pay to the Executive any accrued and
unpaid Base Salary, through the effective date of termination specified in such notice. Upon any termination effected and compensated pursuant to this Section 6.5, the Company shall have no further liability hereunder (other than for
reimbursement for reasonable business expenses incurred prior to the date of termination, subject, however, to the provisions of Section 5.1, and payment of compensation for accrued and unused vacation days). 
 6.6 Resignation. Upon any termination of employment pursuant to this Article 6, the Executive shall be deemed to have resigned as an officer, and
if he or she was then serving as a director of the Company, as a director, and if required by the Board, the Executive hereby agrees to immediately execute a resignation letter to the Board. 
 6.7 Survival. The provisions of this Article 6 shall survive the termination of this Agreement, as applicable. 
 7. Restrictive Covenants. 
 7.1
Non-competition. At all times while the Executive is employed by the Company and for a one (1) year period immediately following the termination of the Executive’s employment with the Company for any reason, the Executive shall not,
directly or indirectly, engage in or have any interest in any sole proprietorship, corporation, company, partnership, association, venture or business or any other person or entity (whether as an employee, officer, director, partner, agent, security
holder, creditor, consultant or otherwise) that directly or indirectly (or through any affiliated entity) competes with the Company’s business (for purposes of this Agreement, any business that engages in the management or provision of anatomic
and/or clinical pathology diagnostic services {whether through physician practices, laboratories, 

 
hospitals, medical or surgery centers or otherwise} shall be deemed to compete with the Company’s business); provided that such provision shall not
apply to the Executive’s ownership of common stock of the Company or the acquisition by the Executive, solely as an investment, of securities of any issuer that are registered under Section 12(b) or 12(g) of the Securities Exchange Act of
1934, as amended, and that are listed or admitted for trading on any United States national securities exchange or that are quoted on the National Association of Securities Dealers Automated Quotations System, or any similar system or automated
dissemination of quotations of securities prices in common use, so long as the Executive does not control, acquire a controlling interest in or become a member of a group which exercises direct or indirect control of, more than five percent
(5.0%) of any class of capital stock of such corporation. 
 7.2 Confidential Information. The Executive shall not at any time
divulge, communicate, use to the detriment of the Company or for the benefit of any other person or persons, or misuse in any way, any Confidential Information (as hereinafter defined) pertaining to the business of the Company. Any Confidential
Information or data now or hereafter acquired by the Executive with respect to the business of the Company (which shall include, but not be limited to, information concerning the Company’s financial condition, prospects, technology, customers,
suppliers, employees, employee compensation or benefits, employment practices and methods of doing business) shall be deemed a valuable, special and unique asset of the Company that is received by the Executive in confidence and as a fiduciary, and
Executive shall remain a fiduciary to the Company with respect to all of such information. For purposes of this Agreement, “Confidential Information” means information disclosed to the Executive or known by the Executive as a consequence
of or through the unique position of his employment with the Company (including information conceived, originated, discovered or developed by the Executive) prior to or after the date hereof, and not generally or publicly known, about the Company or
its business. Notwithstanding the foregoing, nothing herein shall be deemed to restrict the Executive from disclosing Confidential Information to promote the best interests of the Company or to the extent required by law. 
 7.3 Nonsolicitation of Employees and Customers. At all times while the Executive is employed by the Company and for the one (1) year period
immediately following the termination of the Executive’s employment with the Company for any reason, the Executive shall not, directly or indirectly, for himself or for or on behalf of any other person, firm, corporation, partnership,
association or other entity (a) employ or attempt to employ or solicit the termination of employment of or enter into any contractual arrangement with any employee or former employee of the Company, unless such employee or former employee has
not been employed by the Company for a period in excess of six (6) months, and/or (b) call on or solicit any of the actual or targeted prospective customers or clients of the Company (or of its physician practices or laboratories) on
behalf of any person or entity in connection with any business that competes with the Company’s business, nor shall the Executive make known the names and/or addresses of such employees, customers or clients or any information relating in any
manner to the Company’s trade or business relationships with such employees, customers or clients, other than in connection with the performance of Executive’s duties under this Agreement. 
 7.4 Ownership of Developments. All copyrights, patents, trade secrets, or other intellectual property rights associated with any ideas, concepts,
techniques, inventions, 

 
processes, or works of authorship developed or created by Executive during the course of performing work for the Company or its clients (collectively, the
“Work Product”) shall belong exclusively to the Company and shall, to the extent possible, be considered a work made by the Executive for hire for the Company within the meaning of Title 17 of the United States Code. To the extent the Work
Product may not be considered work made by the Executive for hire for the Company, the Executive agrees to assign, and automatically assign at the time of creation of the Work Product, without any requirement of further consideration, any right,
title, or interest the Executive may have in such Work Product. Upon the request of the Company, the Executive shall take such further actions, including execution and delivery of instruments of conveyance, as may be appropriate to give full and
proper effect to such assignment. 
 7.5 Books and Records. All books, records, and accounts relating in any manner to the customers
or clients of the Company, whether prepared by the Executive or otherwise coming into the Executive’s possession, shall be the exclusive property of the Company and shall be returned immediately to the Company on termination of the
Executive’s employment hereunder or on the Company’s request at any time. 
 7.6 Definition of Company. Solely for purposes
of this Article 7, the term “Company” also shall include any existing or future subsidiaries of the Company that are operating during the time periods described herein and any other entities that directly or indirectly, through one or more
intermediaries, control, are controlled by or are under common control with the Company during the periods described herein. 
 7.7
Acknowledgment by Executive. The Executive acknowledges and confirms that (a) the restrictive covenants contained in this Article 7 are reasonably necessary to protect the legitimate business interests of the Company, and (b) the
restrictions contained in this Article 7 (including without limitation the length of the term of the provisions of this Article 7) are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion of any kind. The
Executive acknowledges and confirms that his special knowledge of the business of the Company is such as would cause the Company serious injury or loss if he were to use such ability and knowledge to the benefit of a competitor or were to compete
with the Company in violation of the terms of this Article 7. The Executive further acknowledges that the restrictions contained in this Article 7 are intended to be, and shall be, for the benefit of and shall be enforceable by, the Company’s
successors and assigns. 
 7.8 Reformation by Court. In the event that a court of competent jurisdiction shall determine that any
provision of this Article 7 is invalid or more restrictive than permitted under the governing law of such jurisdiction, then only as to enforcement of this Article 7 within the jurisdiction of such court, such provision shall be interpreted and
enforced as if it provided for the maximum restriction permitted under such governing law. 
 7.9 Extension of Time. If the Executive
shall be in violation of any provision of this Article 7, then each time limitation set forth in this Article 7 shall be extended for a period of time equal to the period of time during which such violation or violations occur. If the Company seeks
injunctive relief from such violation in any court, then the covenants set forth in this Article 7 shall be extended for a period of time equal to the pendency of such proceeding including all appeals by the Executive. 

 7.10 Survival. The provisions of this Article 7 shall survive the termination of this Agreement,
as applicable. 
 8. Injunction. It is recognized and hereby acknowledged by the parties hereto that a breach by the Executive of any
of the covenants contained in Article 7 of this Agreement will cause irreparable harm and damage to the Company, the monetary amount of which may be virtually impossible to ascertain. As a result, the Executive recognizes and hereby acknowledges
that the Company shall be entitled to an injunction from any court of competent jurisdiction enjoining and restraining any violation of any or all of the covenants contained in Article 7 of this Agreement by the Executive or any of his affiliates,
associates, partners or agents, either directly or indirectly, and that such right to injunction shall be cumulative and in addition to whatever other remedies the Company may possess. 
 9. Arbitration. Any dispute or controversy arising under or in connection with this Agreement shall be settled exclusively by arbitration in Palm
Beach County, Florida, in accordance with the Rules of the American Arbitration Association then in effect (except to the extent that the procedures outlined below differ from such rules). Within thirty (30) days after written notice by either
party has been given that a dispute exists and that arbitration is required, each party must select an arbitrator and those two arbitrators shall promptly, but in no event later than thirty (30) days after their selection, select a third
arbitrator. The parties agree to act as expeditiously as possible to select arbitrators and conclude the dispute. The selected arbitrators must render their decision in writing. The cost and expenses of the arbitration and of enforcement of any
award in any court shall be borne by the non-prevailing party. If advances are required, each party will advance one-half of the estimated fees and expenses of the arbitrators. Judgment may be entered on the arbitrators’ award in any court
having jurisdiction. Although arbitration is contemplated to resolve disputes hereunder, either party may proceed to court to obtain an injunction to protect its rights hereunder, the parties agreeing that either could suffer irreparable harm by
reason of any breach of this Agreement. Pursuit of an injunction shall not impair arbitration on all remaining issues. 
 10.
Assignment. Neither party shall have the right to assign or delegate his rights or obligations hereunder, or any portion thereof, to any other person. 
 11. Governing Law. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Florida, without reference to principles of conflict of laws. 
 12. Entire Agreement; Prior Agreements. This Agreement constitutes the entire agreement between the parties hereto with respect to the subject
matter hereof and, upon its effectiveness, shall supersede all prior agreements, understandings and arrangements, both oral and written, between the Executive and the Company (or any of its affiliates) with respect to such subject matter. In
addition, this shall supercede and replace the Executive’s Prior Employment Agreement, if any, as well as any and all other agreements between the Executive and the Company and, upon execution of this Agreement by the Executive and the Company,
the Prior 

 
Employment Agreement and any and all other agreements between the Executive and the Company shall terminate and shall no longer have any force and effect.
Notwithstanding this Article 13 or any other provision of this Agreement, Option Agreements entered into by the Executive and the Company shall remain in full force and effect. This Agreement may not be modified in any way unless by a written
instrument signed by both the Company and the Executive. 
 13. Notices. Any required notice under this Agreement shall be made
and delivered in writing. Delivery of such notice shall be made (x) if to the Company, to AmeriPath, Inc., 7111 Fairway Drive, Suite 400, Palm Beach Gardens, Florida, 33418, Attention: Human Resources, and (y) if to the Executive, to the
last known residential address of Executive as listed in the Company’s employment records. Delivery of such notice shall be deemed to have occurred (i) in the case of hand delivery, when personally delivered to the other party at such
party’s address; or (ii) in the case of mailing, three (3) days after such notice has been deposited in the United States mails, postage prepaid, by certified or registered mail, with return receipt requested, and addressed to the
other party as set forth in this Agreement; or (iii) in any other case, when actually received by the other party. Either party may change the address to which notices are to be given by giving written notice of such change to the other party
in accordance with this Section 13. 
 14. Benefits; Binding Effect. This Agreement shall be for the benefit of and binding upon
the parties hereto and their respective heirs, personal representatives, legal representatives, successors and, where permitted and applicable, assigns, including, without limitation, any successor to the Company, whether by merger, consolidation,
sale of stock, sale of assets or otherwise. 
 15. Severability. The invalidity of any one or more of the words, phrases, sentences,
clauses, provisions, sections or articles contained in this Agreement shall not affect the enforceability of the remaining portions of this Agreement or any part thereof, all of which are inserted conditionally on their being valid in law, and, in
the event that any one or more of the words, phrases, sentences, clauses, provisions, sections or articles contained in this Agreement shall be declared invalid, this Agreement shall be construed as if such invalid word or words, phrase or phrases,
sentence or sentences, clause or clauses, provisions or provisions, section or sections or article or articles had not been inserted. If such invalidity is caused by length of time or size of area, or both, the otherwise invalid provision will be
considered to be reduced to a period or area, which would cure such invalidity. 
 16. Waivers. The waiver by either party hereto of a
breach or violation of any term or provision of this Agreement shall not operate nor be construed as a waiver of any subsequent breach or violation. 
 17. Damages. Nothing contained herein shall be construed to prevent the Company or the Executive from seeking and recovering from the other damages sustained by either or both of them as a result of its or his
breach of any term or provision of this Agreement. In the event that either party hereto brings suit for the collection of any damages resulting from, or the injunction of any action constituting, a breach of any of the terms or provisions of this
Agreement, then the party found to be at fault shall pay all reasonable court costs and attorneys’ fees of the other. 

 18. Section Headings. The article, section and paragraph headings contained in this Agreement are
for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. 
 19. No Third Party
Beneficiary. Nothing expressed or implied in this Agreement is intended, or shall be construed, to confer upon or give any person other than the Company, the parties hereto and their respective heirs, personal representatives, legal
representatives, successors and permitted assigns, any rights or remedies under or by reason of this Agreement. 
 20. Withholding
Taxes. The Company may withhold from any amounts payable under this Agreement such Federal, state or local taxes as shall be required to be withheld pursuant to any applicable law or regulation. 
 21. 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 shall constitute one and the same instrument and agreement. 
 IN WITNESS WHEREOF, the undersigned have executed
this Agreement as of the date first above written. 
  

			
	COMPANY:
	
	 AMERIPATH, INC.

		
	By:	 	 /s/ Donald E. Steen

		 	Donald E. Steen
		 	Chairman and Chief Executive Officer
		
	By:	 	 /s/ Jeffrey A. Mossler, M.D.

		 	Jeffrey A. Mossler, M.D.
		 	Vice Chairman
	
	EXECUTIVE:
	
	 /s/ R. Keith Laughman

	R. Keith LaughmanConsulting Agreement

 Exhibit 10.1 
 CONSULTING AGREEMENT 
 This Consulting Agreement (the “Agreement”), effective as of March 28, 2006 (the
“Effective Date”), is made between Antigenics Inc., a Delaware corporation, with offices at 630 Fifth Avenue, Suite 2100, New York, NY 10111 (the “Company”), and Pramod Srivastava having an address at 70 Pheasant Run, Avon, CT
06001 (the “Consultant”) (each a “Party” and collectively the “Parties”). 
 RECITALS 
 WHEREAS, the Consultant is affiliated/associated with The University of Connecticut Health Center, an agency of the State of Connecticut, having a
business address at 263 Farmington Avenue, Connecticut 06030 (the “Institution”); 
 WHEREAS, the existing Founding Scientist
Agreement between the Company and the Consultant dated as of March 28, 1995, as amended by that certain Amendment to Founding Scientists Agreement dated January 1, 2003 (collectively, the “FSA”) terminates on March 27, 2006;

 WHEREAS, the Company desires to continue to retain the services of the Consultant, and the Consultant desires to continue to perform
certain services for the Company on the terms of this Consulting Agreement; 
 WHEREAS, the Company desires and the Consultant confirms that
the Consultant has obtained the review and any necessary approval the Institution under the Institution’s policies, and that nothing in this Agreement conflicts with any existing obligation of Consultant to Institution; 
 NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the Company and the Consultant hereby agree as follows: 
  

	1.	Services. 

 1.1 Description of Services.
Subject to the terms and conditions of this Agreement, the Company or its designee hereby retains the Consultant to perform for the Company and/or potentially its affiliates such advisory and consulting services (“Services”) as the Company
may request from time to time, relating to, without limitation, the evaluation and development of new and existing products. 
 Consultant shall perform the
Services at such times and places as agreed to between the Parties, and in compliance with all applicable federal and state laws and regulations, including laws and 

  

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regulations administered by the U.S. Food and Drug Administration (“FDA”) regarding the promotion and marketing of pharmaceutical products.
Consultant agrees to devote his or her best efforts to perform the Services promptly and diligently. Company agrees that it shall at no time knowingly issue to Consultant any direction or impose upon Consultant any requirements which could
foreseeably cause Consultant to violate the professional ethics and mandates of his or her profession. 
 1.2 Compliance with
Institutional Policies. The Consultant is responsible for ensuring that this Agreement is not in conflict with the intellectual property, consulting, conflict-of-interest, and other policies of any institution or other entity to which the
Consultant is affiliated or bound, including without limitation, the Institution. The Consultant represents and warrants that this Agreement complies with all such policies. The Consultant further represents, warrants and covenants that he has made
and will continue to make all the required disclosures to the Institution and has obtained all necessary approvals of this Agreement from the appropriate authorities at the Institution. Consultant agrees to cooperate in a timely manner with the
reasonable requests of Company to confirm in writing the activities undertaken under any independent sponsored research agreements between the Company and the Institution to help assure there is a clear understanding among the Institution, the
Company and the Consultant of the respective parties’ intellectual property rights. Nothing in this Agreement grants to the Company rights to intellectual property (other than the Developments made hereunder) that would otherwise belong to the
Institution under any such independent sponsored research agreements or that are made under the direction or assignment of the Consultant at the Institution. 
 1.3 Third Party Obligations. The Consultant represents and warrants to the Company that none of his current obligations conflict with this Agreement or the Services to be provided hereunder. The Consultant
covenants not to enter into any such conflicting agreement or incur any such conflicting obligation without the prior written consent of the Company. The Consultant further covenants that the performance of the Services will not breach any agreement
or obligation with any third party, including without limitation any obligation to refrain from engaging in activities that may compete with such party. 
 1.4 Authorization to Perform Services. Consultant represents and warrants that (i) Consultant is not and has not been excluded from participation in any federal or state health care program, debarred by
the Food and Drug Administration, or otherwise debarred from contracting; (ii) Consultant has not been convicted of or pled nolo contendere to any felony, or to any federal or state legal violation relating to prescription drug products; and
(iii) Consultant is not an employee of the National Institutes of Health within the scope of 5 CFR Section 5501.109. To the extent any Services will be performed in the United States, Consultant further represents, warrants and covenants
that the Consultant has and shall continue to have throughout the term of this Agreement, the right and authority to perform the Services hereunder in the United States and will not require the sponsorship of Institution by the Company. 

 

	2.	Compensation. 

 2.1 Compensation; Bonus and Stock
Options. In exchange for the timely completion of Services set forth in Article 1 during the term of the Agreement, the Company shall pay to the 

  

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Consultant compensation as set forth herein. The Parties acknowledge and agree that, pursuant to the payment terms of the FSA, compensation for Services
through December 31, 2006 has been previously paid to the Consultant, and no additional compensation is due or payable for Services for such period. Compensation for Services to be rendered after December 31, 2006 shall be as agreed
between the Parties and ratified by the Compensation Committee of the Company’s Board of Directors. Such fees shall be payable quarterly in arrears in equal quarterly installments upon receipt of Consultant’s valid invoice and supporting
documentation, if requested by Company. The first such quarterly payment for the final quarter of the first annual term of this Agreement (i.e., January – March 2007) shall be $43,750.00. Compensation and expense reimbursements to be paid under
this Agreement shall be paid to the Consultant in U.S. Dollars. Consultant shall be eligible to receive an annual bonus and stock options in exchange for the performance of the Services. Such bonus and stock options, if any, shall be proposed by the
Chief Executive Officer of the Company and approved by the Compensation Committee of the Company’s Board of Directors annually prior to the renewal of each term. 
 2.2 Reimbursement of Expenses. The Company shall reimburse the Consultant for reasonable travel and other out-of-pocket expenses, including reasonable expenses for lodging and meals, that are reasonably
incurred by the Consultant in the performance of the Services in accordance with the Company’s travel policy, as may be amended from time to time by the Company, provided that the Consultant shall have submitted to the Company written expense
statements and other supporting documentation in a form that is reasonably satisfactory to the Company. The Company shall provide the Consultant with a check for any amounts due under this Section 2.2 within forty-five (45) days after the
Company receives satisfactory documentation. All expense reimbursement to be paid under this Agreement shall be in U.S. Dollars. 
 2.3
Benefits. The Consultant is an independent contractor of Company. The Consultant acknowledges and agrees that the Company will not provide the Consultant with any benefits. Consultant is also responsible for the payment and the withholding of
all applicable taxes, levies and/or duties applicable to any compensation or reimbursements paid to Consultant hereunder in accordance with all applicable laws, rules and regulations. 
 2.4 No Additional Obligation/Fair Market Value. Consultant acknowledges and agrees that the compensation payable hereunder represents fair market
value and that the Company’s full and complete obligation for any and all Services to be rendered by Consultant under this Agreement. Both Parties acknowledge that the compensation is not determined in a manner that takes into account the
volume or value of any future business that might be generated between the Parties. In addition, Consultant and the Company acknowledge that nothing in this Agreement shall be construed to require Consultant to promote, purchase, prescribe, or
otherwise recommend any Company products being marketed or under development. 
  

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	3.	Term and Termination. 

 3.1 Term. This
initial term of this Agreement shall commence on the Effective Date and shall remain in effect until March 31, 2011 (the “Initial Term”). Thereafter, the term of this Agreement shall be automatically extended beyond the Initial Term
for additional one (1) year periods, unless either Party desires not to extend the term of this Agreement, in which case such Party shall notify the other Party at least ninety (90) days prior to the end of the then existing term.

 3.2 Termination by Company. Subject to the provisions of Article 6 below, the Company may terminate this Agreement for any reason
with or without cause upon fourteen (14) days prior written notice to the Consultant with no further obligation to the Consultant, other than payment of compensation at the rate provided for in with Article 2 for Services rendered in accordance
with this Agreement for a period of twelve (12) months following the date of termination. The Company may terminate this Agreement immediately upon written notice to the Consultant (or his legal representative) without further compensation
(a) in the event of the death or legal incapacity of the Consultant or (b) if the Consultant breaches or threatens to breach any provision of Sections 1.2, 1.3, 1.4, 7.3 or 7.4 or Articles 4 or 5. 
 3.3 Termination by Consultant. In the event that Company commits a material breach of its obligations under this Agreement, the Consultant may
terminate this Agreement upon thirty (30) days prior written notice to the Company, unless the breach is cured within such 30-day notice period. Consultant shall be paid on a pro rata basis for any services prior to such termination.

 3.4 Survival. Except as otherwise provided in this Agreement, Articles 4 and 5 and Sections 6.3, 7.1, 7.4, 7.5, 7.6, and 7.8 and
this Section 3.4 shall survive the expiration or termination of this Agreement for any reason. 
  

	4.	Confidential Information. 

 4.1 Definition of
Confidential Information. “Confidential Information” shall mean any technical or business information furnished by the Company to the Consultant in connection with this Agreement or developed by the Consultant in the course of
performing the Services, regardless of whether such Confidential Information is in oral, electronic or written form. Such Confidential Information may include, without limitation, trade secrets, know-how, inventions, technical data or
specifications, testing methods, business or financial information, research and development activities, product and marketing plans, and customer and supplier information. In addition and notwithstanding any other provision of this Article 4 and
Section 7.1, Confidential Information under this Agreement shall include all “Proprietary Information” (as such term was defined in the FSA). 
 4.2 Obligations. The Consultant shall: (i) maintain all Confidential Information in strict confidence; (ii) use all Confidential Information solely for the purpose of providing the Services as
requested by the Company and not at any time during the term of this Agreement or thereafter, without the prior written consent of the Chief Executive Officer or the Board of Directors, divulge or disclose Confidential Information to anyone outside
of the Company, or 

  

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appropriate for his own use or the use of any third party, any Confidential Information, or disclose or use or attempt to use any Confidential Information
for his own benefit, or the benefit of any third party, or in any manner which would injure or cause loss or may be calculated to injure or cause loss to the Company; (iii) reproduce the Confidential Information only to the extent necessary for
providing the Services as requested by the Company, with all such reproductions being considered Confidential Information; and (iv) provide the Company with a pre-print, abstract or summary of any proposed public disclosure of information
related to any area in which the Consultant performs Services (whether through journals, lectures, or otherwise) at least sixty (60) days prior to the intended submission of any written publication and at least thirty (30) days prior to
any other public disclosure to allow the Company to review such materials for compliance with the Consultant’s confidentiality obligations hereunder. 
 4.3 Return of Confidential Information; Survival of Obligations. Upon the termination of this Agreement, or earlier at the request of the Company, the Consultant shall return to the Company all originals,
copies, and summaries of documents, materials, and other tangible manifestations of Confidential Information in the possession or control of the Consultant. The obligations set forth in this Article 4 shall remain in effect for a period of five
(5) years after termination of this Agreement, except that the obligations of the Consultant to return Confidential Information shall survive until fulfilled. 
  

	5.	Developments; Third Party IP; Avoidance of Claims. 

 5.1 Developments. 
 5.1.1 Definition. “Developments” shall mean any and all inventions,
developments, data, discoveries, improvements, ideas, or concepts, and related documentation, and any other works of invention or authorship (whether or not patentable or copyrightable) (a) which the Consultant has conceived, discovered,
developed, or reduced to practice or tangible medium in the course of providing services to the Company or its affiliates, including all “Proprietary Information” (as such term is defined in the FSA) developed by Consultant under this
Agreement or the FSA, or (b) which arise from access to and/or use of Confidential Information or funding from Company, and (c) in each case of (a) and (b), any and all intellectual property rights in any of the foregoing.
Notwithstanding the above, Consultant and Company acknowledge and agree that Developments specifically exclude any inventions made under that certain Research Agreement by and between Consultant, Company and Institution dated February 18, 1998,
as amended (the “Research Agreement”) and licensable under that certain License Agreement by and between Consultant, Company and Institution dated May 25, 2001, as amended (the “License Agreement”) (the License Agreement and
Research Agreement collectively, the “Other Agreements”). 
 5.1.2 Disclosure Obligations. The Consultant
shall promptly disclose to the Company any and all Developments. In addition, in order to enable the Company and the Consultant to monitor their rights and obligations under the Other Agreements and this Agreement, the Consultant shall provide the
Company with a work plan detailing the scope of research activities the Consultant intends to conduct at the Institution (the “Institution Work Plan”). The Institution Work Plan shall detail (a) the activities to be performed by or
under the direction of the Consultant at the Institution, and (b) whether any, and if so which, activities will 

  

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be funded by the Company, any third party or any government sources. The Institution Work Plan for 2006 is attached hereto as Exhibit A and incorporated
herein. The Consultant shall provide updates to the Institution Work Plan whenever additional activities of Consultant are contemplated that may affect the rights of the Company hereunder or under the Other Agreement, and in any event at least on a
yearly basis. 
 5.1.3 Acknowledgements. The Consultant acknowledges and agrees that all Confidential Information and
Developments is and shall remain the exclusive property of the Company or the third party entrusting any Confidential Information to the Company. The Consultant shall assign and hereby assigns, conveys, and grants to the Company, all of his right,
title, and interest in and to any and all Developments. In addition, the Consultant acknowledges and agrees that any inventions or discoveries or other developments, other than Developments hereunder, made by or under the direction or assignment of
the Consultant at the Institution and funded by the Company shall be subject to the option and license rights granted to the Company in the Other Agreements. 
 5.2 Third-Party Intellectual Property. The Consultant acknowledges that the Company does not desire to acquire any trade secrets, know-how, confidential information, or other intellectual property that the
Consultant may have acquired from or developed for any third party (“Third-Party IP”). The Consultant agrees that in the course of providing the Services, the Consultant shall not improperly use or disclose any Third-Party IP. 

5.3 Avoidance of Claims by Third-Parties. Unless covered by an appropriate agreement between any third party and the Company, the Consultant
shall not engage in any activities or use any facilities, funds or equipment, in the course of providing Services, which could result in claims of ownership to any Developments by such third party. In addition and without in any way limiting the
generality of the foregoing, the Consultant will not perform any Services with Institution’s facilities or funds or in any other manner which could result in claims by Institution of rights in any Developments, without the express prior
agreement of Company. 
  

	6.	Change of Control of the Company. 

 6.1 If a Change
of Control (as defined below) occurs during the term of this Agreement, on the date of such Change in Control, fifty-percent (50%) of any stock options previously granted to the Consultant that are outstanding and unvested as of that date shall
become vested and exercisable. In addition, if a Change of Control occurs and within eighteen (18) months following such Change of Control, the Company terminates this Agreement other than for breach by Consultant without Company entering into
a substantially similar arrangement with Consultant, the Company shall continue to pay Consultant the amount in effect under Section 2.1 above for a period of twelve (12) months following the effective date of the termination of
this Agreement. 
 6.2 For purposes of this Article 6, “Change in Control” shall mean: (A) the acquisition by any Organization
of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 50% or more of the common stock of the Company; provided, however, that for purposes of this subsection (A), an acquisition shall not constitute a
Change in Control if it is: (x) by a Benefit Plan sponsored or maintained by the Company or an 

  

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entity controlled by the Company or (y) by an entity pursuant to a transaction that complies with clauses (x), (y) and (z) of subsection
(C) of this Section 6.2; or (B) individuals who, as of December 1, 2005, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any
individual becoming a director subsequent to December 1, 2005, whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board (or
a majority of the members of a nominating committee who are members of the Incumbent Board) shall be treated as a member of the Incumbent Board unless he or she assumed office as a result of an actual or threatened election contest with respect to
the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of an Organization other than the Board; or (C) consummation of a merger or consolidation involving the Company, or a sale or
other disposition of all or substantially all of the assets of the Company, (a “transaction”) in each case unless, immediately following such transaction, (x) the beneficial owners of the common stock of the Company outstanding
immediately prior to such transaction beneficially own, directly or indirectly, more than 50% of the combined voting power of the outstanding voting securities of the entity resulting from such transaction (including, without limitation, an entity
which as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries), (y) no Organization (excluding any entity resulting from such transaction or
any Benefit Plan of the Company or such entity resulting from such transaction) beneficially owns, directly or indirectly, 50% or more of the combined voting power of the then outstanding voting securities of such entity and (z) at least a
majority of the members of the board of directors or similar board of the entity resulting from such transaction were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for
such transaction; or (D) approval by the stockholders of the Company of a complete liquidation or dissolution of the Company. For purposes of the foregoing: “Benefit Plan” means any employee benefit plan, including any related trust;
“Board” means the Board of Directors of the Company; “Exchange Act” means the Securities Exchange Act of 1934, as amended; and “Organization” means any individual, entity or group (within the meaning of
Section 13(d)(3) or Section 14(d)(2) of the Exchange Act). 
 6.3 This Article 6 shall survive any termination under
Section 3.1, provided that such termination is within eighteen (18) months following a Change in Control. 
  

	7.	Miscellaneous. 

 7.1 Termination of FSA. The
Parties acknowledge and agree that, as of the Effective Date of this Agreement, this Agreement supercedes the FSA, and the FSA terminated in all respects. Notwithstanding the above, any contractual claim that could have been brought under the FSA
shall be considered a claim under this Agreement and may be brought by the Parties hereto. 
 7.2 Counterparts. This Agreement may be
executed in one or more counterparts, each of which shall be deemed an original, and all of which together shall be deemed to be one and the same instrument. 
  

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 7.3 Assignment. This Agreement may not be assigned by either Party without the prior written
consent of the other Party, except that the Company may assign this Agreement to an affiliate or in connection with the merger, consolidation, or sale of all or substantially all of its business or assets relating to this Agreement. This Agreement
shall inure to the benefit of and be binding upon the Parties and their respective lawful successors, assigns, heirs, and personal representatives. 
 7.4 Insider Trading. Consultant acknowledges that he will receive material, non-public information about Company and its business in the course of providing the Services and that the United States securities laws prohibit
trading in Company’s securities on the basis of such information. Consultant further acknowledges and agrees that he shall be deemed an insider for purposes of United States securities laws, and he is subject to the restrictions applicable
thereto. 
 7.5 Notices. Any notice or other communication required or permitted hereunder shall be in writing and shall be deemed
given (a) when delivered personally, (b) on the next business day after timely delivery to an overnight courier (postage prepaid), or (c) on the third business day after deposit in the United States mail (certified or registered mail
return receipt requested, postage prepaid), as follows: 
  

			
	 If to Company:
	  	 If to Consultant:

		
	Antigenics Inc.	  	Pramod Srivastava, Ph.D.
	3 Forbes Road	  	70 Pheasant Run
	Lexington, MA 02421	  	Avon, CT 06001
	Attn: Chief Executive Officer	  	

 With a copy to: Senior Attorney 
 Either Party may change its designated address by notice to the other Party in the manner provided in this Section 7.5. 
 7.6 Governing Law. This Agreement has been drafted in the English Language and the English language shall govern its interpretation. This
Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Massachusetts irrespective of any conflict of laws principles. 
 7.7 Severability. In the event that any provision of this Agreement shall, for any reason, be held to be invalid or unenforceable in any respect, such invalidity or unenforceability shall not affect any other
provision hereof, and this Agreement shall be construed as if such invalid or unenforceable provision had not been included herein. If any provision hereof shall, for any reason, be held by a court to be excessively broad as to duration,
geographical scope, activity, or subject matter, it shall be construed by limiting and reducing it to make it enforceable to the extent compatible with applicable law as then in effect. To the extent this Agreement may be construed in accordance
with the laws of any state that limits the assignability to the Company of certain Developments, the provisions of this Agreement shall be modified to conform to such 

  

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state limitation while most closely effectuating the original intention of the Parties (e.g., by providing for fully paid up license rights, or the like).

 7.8 Equitable Relief. The Consultant agrees that any breach of his obligations under this Agreement will cause irreparable harm to
the Company. Therefore, in addition to any other remedies that may be available to the Company, the Company may apply for and obtain immediate injunctive relief in any court of competent jurisdiction to restrain the breach or threatened breach of,
or otherwise to enforce, any obligations of the Consultant hereunder. 
 7.9 Entire Agreement. This Agreement constitutes the entire
agreement between the Parties with respect to the subject matter hereof and supersedes any and all prior or contemporaneous oral and prior written agreements and understandings with respect to the subject matter hereof. This Agreement may be
modified, amended, or supplemented only by means of a written instrument signed by both Parties. Any waiver of any rights or failure to act in a specific instance shall relate only to such instance and shall not be construed as an agreement to waive
any rights or fail to act in any other instance, whether or not similar. 
 [The remainder of this page is intentionally left blank.]

  

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 IN WITNESS WHEREOF, the Parties each have caused this Agreement to be executed by their duly respective
authorized representative as of the Effective Date. 
  

			
	ANTIGENICS INC., a Delaware corporation
		
	 By:
	 	 /s/ Garo H. Armen

	 Name:
	 	  Garo H. Armen, Ph.D.

	 Title:
	 	 Chairman and CEO

  

	
	CONSULTANT:
	
	/s/ Pramod Srivastava, Ph.D.
	 Pramod Srivastava, Ph.D.

  

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