Document:

Exhibit
10.10

 

AMENDED
& RESTATED CONFIRMATORY PATENT ASSIGNMENT AND

ROYALTY AGREEMENT

 

THIS
AMENDED & RESTATED CONFIRMATORY PATENT ASSIGNMENT AND ROYALTY AGREEMENT (this “Agreement”) is entered into as of
November 11, 2020 (the “Effective Date”), by and between SRQ PATENT HOLDINGS, LLC, a Florida limited liability company (“Assignor”),
located at 324 South Hyde Park Ave Suite 350 Tampa FL 33606, and MYMD PHARMACEUTICALS, INC., a Florida corporation, (“Assignee”),
located at 324 S. Hyde Park Avenue, Suite 350, Tampa FL 33606 to amend, restate and replace that certain Confirmatory Patent and Assignment
Agreement among the parties originally entered into effective as of November 17, 2017 and that certain First Amended Confirmatory Patent
Assignment and Royalty Agreement entered into effective November 9, 2020. Assignor and Assignee are herein referred to collectively as
the “Parties”.

 

WHEREAS,
Assignor assigned its entire right, title, and interest in the Assigned Patent Applications, inventions and improvements therein, and
Letters Patent (referred to herein collectively as the “Innovation”) to Assignee via that certain Assignment, dated November
15, 2016 (referred to herein as the “Assignment”), recorded with the United States Patent and Trademark Office on November
16, 2016 at reel and frame number 040337/0243; and

 

WHEREAS,
as part of the consideration for the Assignment, Assignee desires to grant Assignor royalties as set forth herein;

 

NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby
agree as follows:

 

ARTICLE
1—DEFINITIONS

 

1.1
Capitalized terms used but not defined herein shall have the meanings for such terms that are set forth in the Assignment.

 

1.2
“Assigned Product” shall mean: (a) any product whose manufacture, use, sale, offer for sale, or importation infringes a Valid
Claim of an Assigned Patent Application or Letters Patent either directly or by contributory infringement or inducement of infringement
(collectively “covered”); (b) any product which is applied using any method that is covered by a Valid Claim of an Assigned
Patent Application or Letters Patent; or (c) any method covered by a Valid Claim of an Assigned Patent Application or Letters Patent.
For purposes of clarity, an Assigned Product shall continue to be covered by this definition after expiration of such Assigned Patent
Application or Letters Patent for as long as such Assigned Product remains covered by terms of any strategic partnership/joint venture
and/or License agreement with any third party.

 

    	 	1	 

     

    

 

1.3
“Licensee” shall mean any entity, whether a partnership, firm, company, corporation or otherwise to which Assignee grants
a license of the Innovation or a part thereof.

 

1.4
“Net Sales Price” shall mean the invoice price for Assigned Products sold in arm’s length sales or commercial transactions
to a third party by Assignee, its affiliates, or any third party which acquired ownership of any Assigned Product from Assignee, less
deductions for taxes, duties, and shipping charges separately stated on the invoice.

 

1.5
“Revenue” shall mean any and all revenue or other consideration received for an Assigned Product, including but not limited
to, revenue or royalties from sales of Assigned Products, upfront revenue, milestone revenue, royalty income (e.g., running royalty
or minimum royalty), license fees, and the market value at the time of transfer of all non-monetary consideration such as in-kind contribution
valued in money in the country of disposition.

 

1.6
“Valid Claim” shall mean a claim in an Assigned Patent Application or unexpired Letters Patent which has not been held invalid
or unenforceable by a court or tribunal of competent jurisdiction from which no further appeal can be taken or has been taken within
the required time period.

 

ARTICLE
2—ROYALTY PAYMENTS AND REPORTS

 

2.1
Royalties. Assignee agrees to pay to Assignor eight percent (8.0%) of the following consideration actually received in the aggregate
by Assignee:

 

(i)
Net Sales Price; and

 

(ii)
Revenue, excluding any commercial sales accounted for in the Net Sales Price

 

(collectively,
(i) and (ii) being the “Royalties”), where the term “milestone revenue” as used in Section 1.5 (Revenue) refers
to consideration paid to Assignee, by any third party, upon the first achievement of any developmental or regulatory approval event as
to all Assigned Product(s). These Royalties will be distributed as follows:

 

	Recipient	 	Royalty
	Starwood
    Trust, or its assigns

     

    4423
    Bay Shore Road, Sarasota, FL 34234
	 	seven
    percent (7.0 %) Revenue
	 	 	 
	Mr.
    Samuel S. Duffey, Esq., or his assigns

     

    8771
    Grey Oaks Ave.

    Sarasota,
    FL 34238

    
	 	one-half
    of one percent (0.5%) Revenue

     

	 	 	 
	Mr.
    James A. McNulty, CPA, or his assigns

     

    324
South Hyde Park Ave., Suite 350,

    Tampa,
    FL 33606
	 	one-half
    of one percent (0.5%) Revenue

     

 

    	 	2	 

     

    

 

2.2
Licensees. To the extent Assignee grants a license of the Innovation, or any part thereof, to any third party, and receives Revenue
therefrom, then Assignee agrees to pay to Assignor eight percent (8.0%) of Revenue received in the aggregate by Assignee from all such
licensees granting rights to the Innovation, distributed by Assignee as set forth in Section 2.1, to the extent such Revenue has not
been accounted for in Section 2.1(ii). For clarity, Assignee will owe at most eight percent (8.0%) of all consideration collectively
received from all commercial sales and all third parties under all sections of this Article 2.

 

2.3
Term of Royalty Obligations. The Royalties specified in Section 2.1 shall commence on the Effective Date, and shall continue,
in each country on a product-by-product and country-by-country basis until the later of i) the date of expiration of the last to expire
patent included within the Innovation, or ii) the date of expiration of the last strategic partnership/licensing agreement including
the Innovation.

 

2.4
Payments of Royalties. Royalties shall be paid no later than sixty (60) days following the end of the calendar quarter during
which Assigned Products are sold and invoiced, or Revenues are received.

 

2.5
Place of Payment. Assignee agrees to pay the respective amounts contemplated by Article 2 to Assignor, Mr. Duffey, and Mr. McNulty
at the respective addresses listed hereinabove, or at such other places as Assignor, Mr. Duffey, and Mr. McNulty may specify from time
to time, in United States dollars and through a United States bank as designated by each of Assignor, Mr. Duffey, and Mr. McNulty.

 

2.6
No royalty shall be paid twice on the Assigned Product.

 

2.7
Interest. All payments due hereunder that are not paid when due and payable as specified in this Agreement shall bear interest
at an accrual rate equal to the prime rate for U.S. dollar deposits in effect from time to time, as published daily in the Wall Street
Journal plus 5%, compounded monthly from the date due until paid, or at such lower rate of interest as shall then be the maximum rate
permitted by applicable law.

 

2.8
Right to Documentation. Upon request, Assignor, Mr. Duffey, and Mr. McNulty shall have the right to request reasonable documentation
of Assignee’s calculations to determine Royalties and to request discussion of such calculations with appropriate representatives
of Assignee.

 

    	 	3	 

     

    

 

2.9
Records Retention and Audits. Assignee agrees to keep true and accurate records, files, and books of account containing all the
data reasonably required for the full computation and verification of the Royalties to be paid in Article 2 hereof, and Assignee further
agrees to permit its books and records to be examined from time to time to the extent necessary to verify such Royalties, such examination
to be made at the expense of Assignor, Mr. Duffey, or Mr. McNulty, as applicable, by any auditor appointed by any of Assignor, Mr. Duffey,
or Mr. McNulty who shall be acceptable to Assignee, or by a certified public accountant appointed by any of Assignor, Mr. Duffey, or
Mr. McNulty; provided that only those Royalties paid by Assignee within the two (2) year period immediately preceding the start of the
audit, and their supporting records, files, and books of account will be subject to audit.

 

ARTICLE
3—ASSIGNMENT OF RIGHTS

 

3.1
Royalty recipients identified in section 2.1 above acknowledge and agree that Assignee may assign, license or otherwise convey any part
or all of the Innovation to a third party without the consent of any or all of the Royalty recipients. Such assignment shall be through
an arms-length transaction to a non-affiliate, made at fair value, and shall result in treatment of Royalty recipients which is proportional
to the rights granted in section 2.1 above. Assignee shall give written notice to Starwood Trust, Mr. Duffey, and Mr. McNulty with respect
to any assignment of the Innovation granted by Assignee.

 

3.2
Assignee shall give written notice to Starwood Trust, Mr. Duffey, and Mr. McNulty with respect to any license of the Innovation granted
by Assignee. Such license shall be through an arms-length transaction to a non-affiliate, made at fair value, and shall result in treatment
of Royalty recipients which is proportional to the rights granted in section 2.1 above

 

ARTICLE
4—MISCELLANEOUS

 

4.1
Relationship of Parties. Nothing in this Agreement is or shall be deemed to constitute a partnership, agency, employee or joint
venture relationship between the Parties. No Party shall incur any debts or make any commitments for the other, except to the extent,
if at all, specifically provided herein.

 

4.2
This Agreement shall inure to the benefit of the Parties, Starwood Trust, Mr. Duffey, Mr. McNulty, their successors and lawful assigns,
and be binding upon the Parties, their successors, and lawful assigns.

 

4.3
Amendment. This Agreement may not be amended except in writing by all the Parties, and upon the written consent of Starwood Trust,
Mr. Duffey and Mr. McNulty. This Agreement may be signed in counterparts, each of which when taken together, will constitute one and
the same instrument.

 

    	 	4	 

     

    

 

4.4
Waiver. No provision of this Agreement shall be waived by any act, omission or knowledge of a Party or its agents or employees
except by an instrument in writing expressly waiving such provision and signed by the waiving Party.

 

4.5
Governing Law. This Agreement shall be governed by the laws of Florida and the laws of The United States of America as applicable,
and any dispute between the Parties with respect to this Agreement shall be subject to the jurisdiction of the Florida Courts.

 

4.6
Severability. Whenever possible, each provision of this Agreement will be interpreted in a manner as to be effective and valid
under applicable law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision
will be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of this Agreement.

 

4.7
Force Majeure. Neither Party shall lose any rights hereunder or be liable to the other Party or beneficiary for damages or losses
(except for payment obligations) on account of failure of performance by the defaulting party to the extent such the failure is occasioned
by war, strike, fire, Act of God, earthquake, flood, lockout, embargo, governmental acts or orders or restrictions (except if imposed
due to or resulting from the party’s violation of law or regulations), failure of suppliers, or any other reason where failure
to perform is beyond the reasonable control and not caused by the negligence, intentional conduct or misconduct of the nonperforming
party and the nonperforming party has exerted all reasonable efforts to avoid or remedy such force majeure; provided, however, that in
no event shall a force majeure excuse performance for a period of more than six (6) months.

 

4.8
Notice. All notices required or permitted by this Agreement shall be in writing and shall be given by first class postage pre-paid
mail, via electronic mail with receipt verification, or by facsimile transmission, effective in each case upon the date of mailing or
facsimile transmission thereof to the parties addressed as follows:

 

If
to Assignor:

 

SRQ
Patent Holdings

c/o
Starwood Trust

4423
Bay Shore Road

Sarasota
FL 34234

 

If
to Assignee:

 

MYMD
Pharmaceuticals, Inc.

324
South Hyde Park Avenue, Suite 350

Tampa,
Florida 33606-4110

 

If
to Mr. Duffey:

 

8771
Grey Oaks Ave.

Sarasota,
FL 34238

 

If
to Mr. McNulty:

 

James
A. McNulty, CPA

324
South Hyde Park Ave Suite 350

Tampa,
FL 33606-4110

 

or
to such other address as the party to receive such notice shall have designated by written notice to the other party hereto.

 

[Signatures
Begin on Next Page]

 

    	 	5	 

     

    

 

IN
WITNESS WHEREOF, each of the Parties has caused this Agreement to be executed by its duly authorized officer as of the day and year
first above written.

 

	 	SRQ
PATENT HOLDINGS, LLC (Assignor)
	 	 	 
	 	By:	/s/
    Caroline Williams
	 	Name:	Caroline
    Williams/Starwood Trust 
	 	Title:	Trustee
    – Starwood Trust
	 	 	 
	 	MYMD
    PHARMACEUTICALS, INC. (Assignee)
	 	 	 
	 	By:	/s/
    James A. McNulty
	 	Name:	James
    A. McNulty
	 	Title:	CEO
    

 

    	 	6Exhibit 10.11

 

Employment
Agreement

 

This
Employment Agreement is entered into effective as of December 18, 2020 (the “Effective Date”) by and between MYMD Pharmaceuticals.
Inc (the “Company”) and Adam Kaplin, M.D. (“Employee”).

 

In
consideration of the mutual promises and covenants set forth herein, and other good and valuable consideration, the sufficiency of which
is hereby acknowledged, the Company and Employee hereby agree as follows:

 

	 	1.	Position
    of Employment.

 

	 	a.	The
    Company will employ the Employee in the position of Chief Scientific Officer (“CSO”) and, in that position, Employee
    will report to the Company’s Executive Chairman of the Board of Directors. The Company retains the right to change Employee’s
    title, duties, and reporting relationships as may be determined to be in the best interests of the Company; provided, however, that
    any such change shall be consistent with Employee’s training, experience, and qualifications.
	 	b.	The
    terms and conditions of the Employee’s employment shall, to the extent not addressed or described in this Employment Agreement,
    be governed by the Company’s Board of Directors. In addition, the Company in its discretion may adopt a formal Policies and
    Procedures Manual for all employees to adhere to. In the event of a conflict between this Employment Agreement, the Board of Directors,
    and/or the future implementation of a Policies and Procedures Manual and/or existing practices, the terms of this Agreement shall
    govern.
	 	c.	Except
    as otherwise provided herein, Employee shall serve the Company on a full-time basis. The Company acknowledges that Employee is currently
    engaged in numerous activities and consultancies in addition to his employment relationship with the Company and that Employee may
    establish additional outside relationships and activities without approval by the Company.

 

	 	2.	Term
    of Employment. This Employment Agreement shall commence on the Effective Date and shall continue for two years (the “Term
    of Employment”). In the event of a Notice of Termination issued by the Company for cause, the Employee shall be paid his normal
    monthly Base Salary for three months paid following Notice of Termination which shall constitute Employee’s full and complete
    entitlement to severance compensation.

 

    	1

     

    

 

	 	3.	Compensation.
    During the Term of Employment, the Company will pay Employee the Base Salary set forth in Exhibit “A” (the “Base
    Salary”). The Employee’s Base Salary shall be paid monthly during the Term of Employment after the deduction of appropriate
    federal and state withholding taxes. In addition to the Base Salary, the Company will pay Bonus Compensation to Employee in accordance
    with Exhibit “B” (the “Bonus Compensation”). Additionally, at the effective date of this Agreement, the Employee
    shall be paid a Signing Bonus as provided in Exhibit “C” hereto, and shall be granted Four Hundred Thousand (400,000)
    stock options (the “Stock Options”), each with a two-year term, an exercise price of $1.00, and vesting and becoming
    exercisable as provided in Exhibit “D” hereto. The Stock Options shall be subject to and governed by the terms and conditions
    set forth in the Company’s written Stock Option Plan and Agreement and a formal Stock Option Grant Agreement.
	 	4.	Benefits.
    The Company will provide and cover the cost of health insurance and disability policies for Employee during the Term of Employment.
	 	5.	Expenses.
    The Company will reimburse Employee for all reasonable pre-approved travel and out of pocket expenses incurred by Employee during
    the Term of Employment in providing services hereunder.
	 	6.	Disclosure
    of Inventions. During the Term of Employment, Employee shall promptly disclose in confidence to the Company all inventions, improvements,
    designs, original works of authorship, formulas, processes, compositions of matter, computer software programs, databases, mask works
    and trade secrets made or discovered by Employee that: (i) are related to, expand, continue and/or advance the Company’s Proprietary
    Assets or the potential manufacture, formulation, use, efficacy or safety thereof; (ii) are made or discovered as a direct result
    of the performance of services hereunder; and/or (iii) are made or discovered based on the recommendation or suggestion of the Company
    or the Company’s Founder, Jonnie R. Williams (the “Inventions”). The Company’s Proprietary Assets are defined
    as all discoveries, product candidates, molecules, processes, potential therapies, and/or technologies that the Company treats as
    proprietary and/or trade secret; provided that, the Company first notifies Employee in writing and Employee does not object in writing,
    to such status as a Proprietary Asset. Employee is hereby given written notice that as of the date hereof the Company’s Proprietary
    Assets includes MYMD-1 (Isomyosmine) and SUPERA-1R. Both MYMD-1 and SUPERA-1R are described in patent filings. For clarity, regardless
    of written notice, the Company’s Proprietary Assets will include any and all Inventions made or discovered by Employee during
    the Term provided the Invention is made or discovered pursuant to subparagraph (i), (ii) and/or (iii) above.
	 	7.	Work
    for Hire; Assignment of Inventions. Employee acknowledges and agrees that any copyrightable works prepared within the scope of
    involvement with the Company are “works for hire” under the Copyright Act and that the Company will be considered the
    author and owner of such copyrightable works. Employee agrees that all Inventions that (i) are developed using equipment, supplies
    facilities or trade secrets of the Company, (ii) result from work performed for the Company, or (iii) relate to any of the Company’s
    Proprietary Assets will be the sole and exclusive property of, and are hereby irrevocably assigned by him to, the Company.

 

    	2

     

    

 

	 	8.	Assignment
    of Other Rights. In addition to the foregoing assignment of Inventions to the Company, Employee hereby irrevocably transfers
    and assigns to the Company: (i) all worldwide patents, patent applications, copyrights, mask works, trade secrets and other intellectual
    property rights in any Invention within the scope of involvement with the Company; and (ii) any and all Moral Rights (as defined
    below) that he may have in or with respect to any Invention. Employee also hereby forever waives and agrees never to assert any and
    all Moral Rights he may have in or with respect to any Invention within the scope of involvement with the Company, even after termination
    of my involvement with the Company. “Moral Rights” mean any rights to claim authorship of an Invention, to object to
    or prevent the modification of any Invention, or to withdraw from circulation or control the publication or distribution of any Invention,
    and any similar right, existing under judicial or statutory law of any country in the world, or under any treaty, regardless of whether
    or not such right is denominated or generally referred to as a “moral right.”
	 	9.	Assistance.
    Employee agrees to assist the Company in every proper way to obtain for the Company and enforce patents, copyrights, mask work
    rights, trade secret rights and other legal protections for the Company’s Inventions in any and all countries. Employee will
    execute any documents that the Company may reasonably request for use in obtaining or enforcing such patents, copyrights, mask work
    rights, trade secrets and other legal protections. Employee’s obligations under this paragraph will continue beyond the termination
    of this Agreement, provided that the Company will compensate Employee at a reasonable rate after such termination for time or expenses
    actually spent by me at the Company’s request on such assistance. Employee appoints the President of the Company as attorney-in-fact
    to execute documents on her behalf for this purpose upon his review and approval of such documents.
	 	10.	Proprietary
    Information. Employee understands that his participation in this Agreement with the Company creates a relationship of confidence
    and trust with respect to any information of a confidential or secret nature that may be disclosed to him by the Company that relates
    to the businesses of the Company or to the business of any affiliate, customer or supplier of the Company or any other party with
    whom the Company agrees to hold information of such party in confidence (the “Proprietary Information”). Such Proprietary
    Information includes, but is not limited to, Inventions, marketing plans, product plans, business strategies, financial information,
    forecasts, personnel information, customer lists, domain names or any other material information, which is not generally available
    to the public.

 

    	3

     

    

 

	 	11.	Confidentiality.
    At all times, both during the Term of Employment and after its termination, Employee will keep and hold all such Proprietary
    Information in strict confidence and trust. Employee will not use or disclose any Proprietary Information without the prior written
    consent of the Company, except as may be necessary to perform his duties for the benefit of the Company, provided, however, that
    the restrictions upon use of Proprietary Information not constituting “Trade Secrets” shall be limited to the period
    of this Agreement with the Company and five (5) years thereafter. Upon termination of his involvement with the Company, Employee
    will promptly deliver to the Company all documents and materials of any nature pertaining to his work with the Company. Employee
    will not take with him any documents or materials or copies thereof containing any Proprietary Information. As used herein, the term
    “Trade Secret” means any technical or nontechnical data, formula, pattern, compilation, program, device, method, technique,
    drawing, process, financial data, financial plan, product plan, list of actual or potential customers or suppliers, or other information
    similar to any of the foregoing, which (i) derives economic value, actual or potential, from not being generally known to, and not
    being readily ascertainable by proper means by, other persons who can derive economic value from its disclosure or use; and (ii)
    is the subject of efforts that are reasonable under the circumstances to maintain its secrecy. Employee shall keep all Trade Secrets
    of the Company for as long as the Company maintains them as a trade secret. In addition to the requirements set forth above, Employee
    agrees that the restrictions in this Agreement regarding the use or disclosure of Proprietary Information, including, without limitation,
    the restrictions in this Agreement regarding the use or disclosure of Trade Secrets, shall be in addition to any restrictions imposed
    by law in the absence of contract.
	 	12.	No
    Breach of Prior Agreement. Employee represents that his performance of all the terms of this Agreement will not breach any agreement
    with any former or current employer or other party, including but not limited to The Johns Hopkins School of Medicine. Employee represents
    that he will not bring with him to the Company or use in the performance of my duties for the Company any documents or materials
    or intangibles of a former employer or third party that are not generally available to the public or have not been legally transferred
    to the Company.
	 	13.	Injunctive
    Relief. Employee understands that in the event of a breach or threatened breach of this Agreement by Employee, the Company may
    suffer irreparable harm and will therefore be entitled to injunctive relief to enforce this Agreement.
	 	14.	Governing
    Law: Severability. This Agreement will be governed by and construed in accordance with the laws of the State of Florida, without
    giving effect to that body of laws pertaining to conflict of law. If any provision of this Agreement is determined by any court or
    arbitrator of competent jurisdiction to be invalid, illegal or unenforceable in any respect, such provision will be enforced to the
    maximum extent possible given the intent of the parties hereto. If such clause or provision cannot be so enforced, such provision
    shall be stricken from this Agreement and the remainder of this Agreement shall be enforced as if such invalid, illegal or unenforceable
    clause or provision had (to the extent not enforceable) never been contained in this Agreement. Notwithstanding the forgoing, if
    the value of this Agreement based upon the substantial benefit of the bargain for any party is materially impaired, which determination
    as made by the presiding court or arbitrator of competent jurisdiction shall be binding, then this Agreement will not be enforceable
    against such affected party and both parties agree to renegotiate such provision(s) in good faith.

 

    	4

     

    

 

	 	15.	Counterparts.
    This Agreement may be executed in any number of counterparts, each of which when so executed and delivered will be deemed an original,
    and all of which together shall constitute one and the same agreement.
	 	16.	Entire
    Agreement. This Agreement and the documents referred to herein or referencing this Agreement constitute the entire agreement
    and understanding of the parties with respect to the subject matter of this Agreement, and supersede all prior understandings and
    agreements, whether oral or written, between or among the parties hereto with respect to the specific subject matter hereof.
	 	17.	Amendment
    and Waiver. This Agreement may be amended only by a written agreement executed by each of the parties hereto. No amendment of
    or waiver of, or modification of any obligation under this Agreement will be enforceable unless set forth in a writing signed by
    the party against which enforcement is sought.

 

IN
WITNESS WHEREOF, the Company has caused this Employment Agreement to be signed by its officer pursuant to the authority of its Board,
and the Employee has executed this Employment Agreement, as of the day and year first written above.

 

	 	MYMD
    Pharmaceuticals, Inc.
	 	 
	 	/s/
    James A. McNulty
	 	By: James
    A. McNulty, CEO
	 	 
	 	Adam
    Kaplin, M.D.
	 	 
	 	/s/
    Adam Kaplin

 

    	5

     

    

 

EXHIBIT
“A”

 

Base
Salary

 

Employee’s
Base Salary shall be Two Hundred Fifty Thousand dollars ($250,000) per annum paid in monthly increments.

 

    	6

     

    

 

EXHIBIT
“B”

 

Bonus
Compensation

 

The
following Bonus Compensation shall be paid to Employee within thirty (30) calendar days following the completion of each of the following
Bonus Events that are accomplished by MyMD-1 during the Term of Employment.

 

	 	1)	Bonus
    Compensation of $100,000 cash to be paid in lump-sum cash upon the completion of the following Bonus Event: dosing of the first patient
    with MyMD-1 in the first MyMD-1 Phase 2 clinical trial which can be for any disease indication other than COVID-19; a clinical trial
    for depression involving patients who have COVID-19 would quality as a disease indication other than COVID-19.
	 	 	 
	 	2)	Bonus
    Compensation of $100,000 cash to be paid in lump-sum cash upon the completion of the following Bonus Event: public announcement of
    positive results from the first MyMD-1 Phase 2 clinical trial which can be for any disease indication other than COVID-19;
	 	 	 
	 	3)	Bonus
    Compensation of $100,000 cash to be paid in lump-sum cash upon the completion of each of the following Bonus Events: public announcement
    of positive results from each MyMD-1 Phase 2 clinical trial following the initial Phase 2 clinical trial described in #2 above (to
    a maximum of five (5) additional Phase 2 clinical trials) which can be for any disease indication other than COVID-19;
	 	 	 
	 	4)	Bonus
    Compensation of $200,000 cash to be paid in lump-sum cash upon the completion of the following Bonus Event: public announcement of
    positive results from the initial MyMD-1 Phase 3 clinical trial in COVID-19;
	 	 	 
	 	5)	Bonus
    Compensation of $100,000 cash to be paid in lump-sum cash upon the completion of the following Bonus Event: the establishment of
    a formal relationship with the National Institutes of Health (NIH) to advance, participation in and/or support MyMD-1 clinical trials
    in COVID-19 provided that the nature and/or extent of the NIH relationship is satisfactory in the discretion of the Company’s
    Board of Directors;
	 	 	 
	 	6)	Bonus
    Compensation of $200,000 cash to be paid in lump-sum cash upon the completion of the following Bonus Event: public announcement of
    FDA and/or EMA approval of an IND for SUPERA-1R for Human Clinical Trials;
	 	 	 
	 	7)	Such
    additional Bonus Compensation as may be determined in the discretion of the Company’s Board of Directors, including at its
    annual review of Employee’s compensation.

 

    	7

     

    

 

EXHIBIT
“C”

 

Signing
Bonus

 

At
the Effective Date of this Agreement, Employee shall receive a lump-sum payment of one hundred thousand dollars ($100,000).

 

    	8

     

    

 

EXHIBIT
“D”

 

Stock
Option Vesting Schedule (only vested stock options may be exercised)

 

Set
forth below is the schedule pursuant to which the Employee Stock Options granted to Employee on the Effective Date of this Agreement
shall vest and become exercisable:

 

Four
Hundred Thousand (400,000) Stock Options shall vest on the Effective Date of this Employment Agreement.

 

    	9

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