Document:

Second Amendment, dated as of July 11, 2012

 Exhibit 10.2 
 Second Amendment 
 This Second Amendment, dated as of July 11, 2012
(the “Amendment 2” and the “Amendment Date,” respectively), amends that certain agreement between Martha Stewart Living Omnimedia, Inc. (“MSLO”) and J.C. Penney Corporation, Inc. (“JCP”), dated
December 6, 2011 (as amended, the “Agreement”). Specifically, for good and valuable consideration, the sufficiency of which the parties do hereby acknowledge, the parties, by executing this Amendment 2, agree to amend the Agreement as
follows: 
  

	1.	Capitalized terms used in this Amendment 2 and not otherwise defined herein shall have the meaning provided in the Agreement. 

 

	2.	In response to JCP’s request pursuant to subsection 4(d)(iii) of the Agreement, MSLO hereby agrees that the following Additional Categories will be sold in the
MSLO Stores starting on the Launch Date: 

 Fashion Bedding (open stock and sets) 

 

	 	•	 	 sheets 

  

	 	•	 	 pillowcases 

  

	 	•	 	 duvet covers 

  

	 	•	 	 comforters 

  

	 	•	 	 bedskirts 

  

	 	•	 	 bedspreads (quilted and other) 

  

	 	•	 	 night spreads 

  

	 	•	 	 quilts 

  

	 	•	 	 shams (quilted and other) 

  

	 	•	 	 decorative pillows 

  

	 	•	 	 bed sheets 

  

	 	•	 	 flannel bedding 

 Utility Bedding 
  

	 	•	 	 comforters (down and synthetic filled) 

  

	 	•	 	 duvets (down and synthetic filled) 

  

	 	•	 	 sleeping pillows (down and synthetic filled) 

  

	 	•	 	 mattress pads 

  

	 	•	 	 box spring covers 

  

	 	•	 	 feather beds 

  

	 	•	 	 blankets 

  

	 	•	 	 throws 

Bath (open stock and sets) 
  

	 	•	 	 towels 

  

	 	•	 	 bathmats 

  

	 	•	 	 bath sheets 

  

	 	•	 	 body sheets 

  

	 	•	 	 bath rugs 

  

	 	•	 	 mitts 

	 	•	 	 soaps 

  

	 	•	 	 bathrobes 

  

	 	•	 	 slippers 

  

	 	•	 	 bath accessories 

  

	 	•	 	 beach towels 

 Decorative Accessories 
  

	 	•	 	 candles 

  

	 	•	 	 candlesticks 

  

	 	•	 	 home fragrances 

  

	 	•	 	 clocks 

Furniture (sold from display items only) 
  

	 	•	 	 beds 

  

	 	•	 	 dining room table and chairs 

  

	 	•	 	 night stand 

 3. The
Christmas Trim category set forth on Appendix 5 shall be replaced with the following: 
 Christmas Trim 

Trees (42 inches and below) 
 Ornaments (except
shatterproof ornaments) 
 Non-lit garlands 
 Holiday Mats 
 Tree Skirts 
 Stockings 
 Table Top 
 4. The minimum payments to be made by JCP to MSLO under Subsection 9(a) of the Agreement will now be the Maximum Guaranteed Minimum Payments for each Payment Period. 

5. MSLO desires to commence a Celebrations Business with JCP on a non-exclusive basis. JCP hereby agrees that, in order to permit MSLO to benefit from
JCP’s expertise in the retail store business and in order to further strengthen the business relationship between MSLO and JCP, it will provide reasonable assistance to MSLO with respect to the Celebrations Business, including support and
services for MSLO Celebrations Stores. The parties contemplate that MSLO Celebrations Stores will be located in JCP Stores or elsewhere and that the Celebrations Business will Launch on the Launch Date. MSLO shall have the right to terminate the
Celebrations Business and the rights granted to JCP in this paragraph without cause, beginning effective February 1, 2016, provided that MSLO agrees to provide at least six months written notice of such termination to JCP; and
provided further that, prior to exercising the foregoing termination right, MSLO will discuss in good faith with JCP alternative business arrangements for the Celebrations Business. As used herein, “Celebrations Business”
shall mean an MSLO 

  
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business consisting of developing, marketing and selling MSLO Products in the Celebrations Product Categories in retail stores that prominently feature the Martha Stewart Marks or that feature
the Stewart Property (“MSLO Celebrations Stores”). 
 The following celebrations Product Categories (the “Celebrations
Product Categories”) will be added to the Non-Exclusive Categories set forth on Appendix 5: 
  

	 	a.	Paper-based Baking/Decorating 

  

	 	i.	Cups 

  

	 	ii.	Wrappers 

  

	 	iii.	Food Packaging 

  

	 	iv.	Twine 

  

	 	v.	Cupcake Stands 

  

	 	vi.	Cake Stands 

  

	 	vii.	Cupcake toppers 

  

	 	viii.	Candles 

  

	 	ix.	Cake boxes 

  

	 	x.	Drink picks 

  

	 	xi.	Candy jars 

  

	 	b.	Gift Packaging 

  

	 	i.	Gift bags 

  

	 	ii.	Gift wrap 

  

	 	iii.	Ribbon 

  

	 	c.	Paper/Plastic Tabletop 

  

	 	i.	Cups 

  

	 	ii.	Napkins 

  

	 	iii.	Plates 

  

	 	iv.	Runners 

  

	 	v.	Table cloths 

  

	 	vi.	Chargers 

  

	 	vii.	Utensils 

  

	 	viii.	Serving Pieces 

  

	 	d.	Stationery 

  

	 	i.	Invitations 

  

	 	ii.	Thank You’s 

  

	 	iii.	Place Cards and Holders 

  

	 	iv.	Greeting Cards 

  

	 	b.	Favors 

  

	 	i.	Containers 

  

	 	ii.	Kits 

  

	 	iii.	Candy Favors 

  

	 	iv.	Small Gift Favors 

  

	 	c.	Decorations/Party Decor 

  

	 	i.	Balloons 

  

	 	ii.	Garlands 

  

	 	iii.	Streamers 

  
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	 	iv.	Confetti 

  

	 	v.	Banners 

  

	 	vi.	Cutouts 

  

	 	vii.	Clings 

  

	 	viii.	Hanging Lanterns 

  

	 	ix.	Table Centerpieces 

  

	 	d.	Other 

  

	 	i.	Noisemakers 

  

	 	ii.	Hats 

  

	 	iii.	Wearables 

 6. The following categories will be
also added to Appendix 5 as Non-Exclusive Categories: 
 Window Hardware 
 Portable and Hard-Wire Lighting 
 Food 

 

	 	•	 	 Pasta / Pasta Sauce 

  

	 	•	 	 Salsa 

  

	 	•	 	 Mustards 

  

	 	•	 	 Dip 

  

	 	•	 	 Coffee, Tea, Hot Chocolate 

  

	 	•	 	 Oil and Vinegar 

  

	 	•	 	 Preserves, Jams 

  

	 	•	 	 Soup and Chili Mix 

  

	 	•	 	 Salad Dressing 

  

	 	•	 	 Legumes/Beans 

  

	 	•	 	 Salt, Pepper, Spices 

  

	 	•	 	 Bread/Muffin Mix 

  

	 	•	 	 Biscuit, Pancake, Waffle Mix 

  

	 	•	 	 Granola 

  

	 	•	 	 Nuts and Nut mixes 

  

	 	•	 	 Maple Syrup 

  

	 	•	 	 Cake Mixes 

  

	 	•	 	 Frosting Mixes 

  

	 	•	 	 Cake/Cupcake Toppings 

 7.
Except as specifically amended by this Amendment 2, the terms and provisions of the Agreement shall remain in full force and effect. 
 IN WITNESS WHEREOF, the parties herein have so agreed, effective as of the Amendment Date. 

  
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	J.C. Penney Corporation, Inc.	 		 	Martha Stewart Living Omnimedia, Inc.
					
	By:	 	 /s/ John Tighe
	 		 	By:	 	 /s/ Daniel Taitz

		 	Signature	 		 		 	Signature
	Name:	 	John Tighe	 		 	Name:	 	Daniel Taitz
	Its:	 	SVP/GMM Home Division	 		 	Its:	 	EVP, CAO and General Counsel

  
 5fs12012ex10xxviii_soligenix.htm

 

EXHIBIT 10.28

Separation Agreement

and General Release

This Separation Agreement and General Release (the “Agreement”) is made as of February 15, 2012 by and between Soligenix, Inc. (the “Employer”) and Evan Myrianthopoulos (the “Employee”) (collectively, the “Parties”).

A.          The Employee was employed by the Employer as Chief Financial Officer and Senior Vice President pursuant to an Employment Agreement dated December 27, 2007, as amended on January 4, 2011 and July 12, 2011 (the “Employment Agreement”); and

B.           The Employer has determined to terminate the employment relationship without cause and the Parties desire to fully settle and resolve any and all issues and disputes arising out of the Employee’s employment with and separation from the Employer.

NOW, THEREFORE, in consideration of the promises and of the mutual covenants and agreements set forth below, the Parties agree as follows:

1.           Termination of Employment.  The Employer has terminated the employment relationship and the Employment Agreement without “Just Cause” (as defined in the Employment Agreement”) effective as of February 15, 2012.

2.           Termination Payments and Benefits.  Pursuant to Section 7(c) of the Employment Agreement, the Employer shall pay the Employee: (a) $127,500.00, which represents six months of the Employee’s salary, (b) $4,688.00, which represents a pro rata bonus calculated using the average of the Employee’s prior two year’s annual bonuses, and (c) $4,414.00, which represents the value of 4.5 days of accrued but unused vacation time.  Such payments shall be payable in equal installments upon the normal payroll periods of the Employer with such payments to begin on the first payroll period following the date hereof.  Additionally, for a period of six months following the date hereof, the Employer shall maintain the same health benefits and life insurance for the Employee that the Employee has been receiving under the Employment Agreement.

3.           Additional Benefits. In consideration for the Employee’s release, promises, and representations in this Agreement, contingent upon the expiration of the revocation period described in Paragraph 12 below without the Employee having revoked this Agreement, the Employer agrees to provide the Employee with the following additional benefits:

(a)           the Employee will not be required to resign from his position as a member of the Employer’s Board of Directors as required by Section 7(d) of the Employment Agreement; and

 

(b)           (i) options (the “Options”) to purchase an aggregate of 252,500 shares of the Employer’s common stock, par value $0.001 per share (see detail set forth on Exhibit A), which were granted in connection with the Employee’s employment, will continue to vest in accordance with their terms, provided the Employee remains on the Employer’s Board of Directors; and (ii) the Options will remain exercisable as to vested shares throughout the terms of such Options despite the termination of the Employee’s employment.

 

  

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4.           Release.  As used in this Agreement, “Released Parties” means (a) the Employer, (b) all of the Employer’s parents, subsidiaries, and affiliates, and (c) all past and present officers, directors, stockholders, agents, employees, officials, employee benefit plans (and their sponsors, fiduciaries, and administrators), insurers, and attorneys of the entities described in this paragraph.  In consideration for the benefits from the Employer described in Paragraph 3 above, the Employee, on behalf of the Employee and the Employee’s agents, representatives, attorneys, successors and  assigns, heirs, executors, and administrators, fully releases and forever discharges each of the Released Parties from, and agrees not to sue them regarding, any and all liability, claims, demands, actions, causes of action, suits, grievances, debts, sums of money, agreements, promises, damages, back and front pay, costs, expenses, attorneys’ fees, and remedies of any type, directly or indirectly regarding any act or failure to act, whether now known or unknown, or suspected or unsuspected, that occurred up to and including the date on which the Employee signs this Agreement, including but not limited to all claims arising out of or in connection with the Employee’s employment or separation of employment with the Employer and the Employee’s status as a stockholder of Employer, and including but not limited to:

(i)           any and all claims for violation of any federal, state or municipal statute, including, but not limited to, Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Civil Rights Act of 1866, the Age Discrimination in Employment Act, the Americans with Disabilities Act of 1990, the Family and Medical Leave Act, the Fair Labor Standards Act, the Employee Retirement Income Security Act, the Workers Adjustment and Retraining Notification Act, the Older Workers Benefit Protection Act, the National Labor Relations Act, the Labor Management Relations Act and the Florida Civil Rights Act;

(ii)           any and all claims for wrongful discharge of employment; termination in violation of public policy; discrimination; breach of contract, both express and implied; breach of a covenant of good faith and fair dealing, both express and implied; promissory estoppel; negligent or intentional infliction of emotional distress; negligent or intentional misrepresentation; negligent or intentional interference with contract or prospective economic advantage; unfair business practices; defamation; libel; slander; negligence; personal injury; assault; battery; invasion of privacy; false imprisonment; and conversion;

(iii)           any and all claims arising out of any other laws and regulations relating to employment, employment discrimination, or the payment of wages and benefits; and

(iv)           any and all claims for attorneys’ fees and costs.

 

5.            Confidential Information; Inventions; Competition. The Employee agrees that he shall abide by the covenants set forth in Sections 5 and 6 of the Employment Agreement, which Sections shall be deemed incorporated herein and remain binding and fully enforceable in accordance with their respective terms.

 

  

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6.            Return of Employer Property.  The Employee acknowledges that he has returned to the Employer, no later than the date on which the Employee signs this Agreement, all property of the Employer that is in the Employee’s possession including, without limitation, all keys, computer hardware, materials, papers, books, files, documents, records, policies, client and customer information and lists, marketing information, data base information and lists, mailing lists, notes, computer software and programs, data and any other property or information that the Employee may have relating to the Employer and its customers, clients, employees, policies or practices (whether those materials are in paper or computer-stored form).  The Employee agrees not to retain any such property or information in any form, and not to give copies of such property or information or disclose their contents to any other person.

7.             Mutual Non-Disparagement.  Except as required by law or pursuant to a subpoena, neither the Employee and/or his attorney(s) on the one hand, nor any of the Employer’s executive officers, directors and/or attorneys on the other hand, will make any public or private statements, whether oral or written, to any third party or parties, including, without limitation, any employee, customer, supplier, creditor or stockholder of the Employer or representative of the press, regarding the other party or such other party’s parent, subsidiaries or affiliates, or their respective officers, directors, employees or agents, that is intended to, or can reasonably be expected to, cause such person’s or entity’s reputation to be damaged in any material respect.

8.            Waiver of Reinstatement.  The Employee waives any right to reinstatement or future employment with the Employer and the Released Parties.

9.            Severability; Entire Agreement; Governing Law.  In the event any provision hereof becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, this Agreement shall continue in full force and effect without said provision.  If any court refuses to enforce any part of this Agreement as written, the court shall modify that part to the minimum extent necessary to make it enforceable under applicable law, and shall enforce it as so modified.  This Agreement represents the entire agreement and understanding concerning the Employee’s separation from the Employer.  This Agreement supersedes and replaces any and all prior agreements, understandings, discussions, negotiations, or proposals concerning the Employee’s relationship with the Employer, except the Employee agrees to remain bound by Sections 5 and 6 of the Employment Agreement, and the Employee and the Employer each understands that such terms survive the separation of employment and this Agreement.  This Agreement may only be amended in writing signed by the Employee and an executive officer of the Employer.

10.          No Admission.  This Agreement is not an admission by any of the Released Parties that anything any of them did or failed to do with respect to the Employee was wrongful, unlawful, in violation of any local, state, or federal constitution, law, statute, or regulation, or capable of inflicting any damage or injury on the Employee, and the Employer specifically denies any such wrongdoing or violation.

 

  

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11.          Confidentiality.  Except as may be specifically required by law, the Employee will not in any manner disclose or communicate any part of this Agreement to any other person except the Employee’s current spouse (if any), the Employee’s accountant or financial advisor to the limited extent needed for that person to prepare the Employee’s tax returns, or the Employee’s attorney.  Before any such authorized disclosure, the Employee will inform each such person to whom disclosure is to be made that every term of this Agreement is confidential and obtain such person’s agreement to maintain the confidentiality of the entire Agreement.

12.          Revocation Period.  The Employee has the right to revoke this Agreement for up to seven days after the Employee signs it.  In order to revoke this Agreement, the Employee must sign and send a written notice of the decision to do so, addressed to Soligenix, Inc., 29 Emmons Drive, Suite C-10, Princeton, NJ 08540, Attention: President, and that written notice must be received by the Employer no later than the eighth day after the Employee signed this Agreement. If the Employee revokes this Agreement, the Employee will not be entitled to any of the consideration from the Employer described in Paragraph 3 above.

13.          Voluntary Execution of Agreement. The Employee acknowledges that:

	
  

	
(a)

	
the Employee has carefully read this Agreement and fully understands its meaning;

	
  

	
(b)

	
the Employee had the opportunity to take up to 21 days after receiving this Agreement to decide whether to sign it;

	
  

	
(c)

	
the Employer advised the Employee in writing, when it gave this Agreement to the Employee, that the Employee should consult with an attorney before signing it;

	
  

	
(d)

	
the Employee is signing this Agreement, knowingly, voluntarily, and without any coercion or duress; and

	
  

	
(e)

	
everything the Employee is receiving for signing this Agreement is described in the Agreement itself and no other promises or representations have been made to cause the Employee to sign it.

14.           Governing Law.  This Agreement shall be governed by and construed in accordance with the laws of the State of New Jersey, and in the event any dispute arises out of the interpretation, breach or enforcement of this Agreement, venue for all such disputes shall be in any Federal or state court in New Jersey.

 

	 	 	Soligenix, Inc.	 
	 	 	 	 	 
	
/s/ Evan Myrianthopoulos    

	 	By:  	
/s/ Christopher J. Schaber

	 
	
Evan Myrianthopoulos  

	 	 	
Christopher J. Schaber

	 
	
 

	 	 	
President and Chief Executive Officer

	 

        

 

  

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Exhibit A

All shares numbers and dollar amounts in the following table have been adjusted to reflect the 1-for-20 reverse stock split effective as of February 1, 2012.

	
Date of Grant

	
Number of Shares Underlying Option

	
Price

	
Option Expires

	
Number of Shares Vested as of Date of Termination

	
11/14/2002

	
7,500

	
$7.00

	
11/14/2012

	
7,500*

	
9/15/2003

	
2,500

	
$18.00

	
9/15/2013

	
2,500*

	
6/11/2004

	
2,500

	
$11.60

	
6/11/2014

	
2,500*

	
11/10/2004

	
7,500

	
$9.40

	
11/10/2014

	
7,500**

	
12/31/2004

	
25,000

	
$9.80

	
12/13/2014

	
25,000**

	
5/10/2006

	
20,000

	
$7.00

	
5/10/2006

	
20,000**

	
8/10/2007

	
27,500

	
$9.40

	
8/9/2017

	
27,500**

	
12/18/2008

	
60,000

	
$1.20

	
12/17/2018

	
60,000**

	
7/1/2010

	
52,500

	
$4.64

	
6/30/2020

	
32,813**

	
12/1/2011

	
60,000

	
$0.64

	
11/30/2021

	
15,000**

 

_______________

* Represents shares underlying options issued as a Board member, the vesting and expiration dates of which are not affected by the Separation Agreement and General Release to which this Exhibit is attached.

** Represents shares underlying options issued as an employee, the vesting and expiration dates of which are amended by Section 3(b) of the Separation Agreement and General Release to which this Exhibit is attached.

 

 

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