Document:

ex_107978.htm

Exhibit 10.1.3

 

GEOVAX, INC.

AMENDMENT NO. 1 TO SALARY DEFERRAL AGREEMENT

 

This Amendment No. 1 to Salary Deferral Agreement (the “Agreement”) is entered into as of July 1, 2017 by and between GeoVax, Inc., a Georgia Corporation (the “Company”), and Robert T. McNally (the “Employee”).

 

Whereas, the Company and Employee entered into a Salary Deferral Agreement (the “Original Agreement”) dated April 25, 2016; and

 

Whereas, the Company and Employee recognize that it is in the best interests of the Company, its shareholders, and its collective Employees to conserve the Company’s cash resources; and as part of its cash conservation measures, the Company has asked certain of its employees to accept salary reductions and/or deferrals; and

 

Whereas, the Company and Employee acknowledge that the Original Agreement and this amendment have been entered into for the express purpose of conserving the Company’s cash resources and not for executive compensation tax planning purposes, and 

 

Whereas, Employee currently is currently earning an annualized gross salary of $275,000 (“Base Salary”), which has been previously reduced by 40% to $165,000, based on Employee’s reduction of his time devoted to the Company’s business; 

 

Now, therefore, the parties hereby agree as follows:

 

	
			1.

				
			Accumulated Salary Deferral.

			
	 	Employee acknowledges his prior verbal agreement to continue the salary deferral pursuant to the Original Agreement through June 30, 2017. The Company and Employee acknowledge and agree that the accumulated amount of deferred salary owed to Employee as of June 30, 2017 is $164,374.91.

 

	
			2.

				
			Continuation of Salary Deferral.

			
	 	Employee agrees to continue deferral of all but $25,000 of his Base Salary, which amount will be accrued and paid to Employee as described below.

 

	
			3.

				
			Discontinuance of Salary Reduction and/or Deferral

			
	 	Employee’s Salary Deferral pursuant to this Agreement shall end upon the occurrence of a significant event (to include financing, corporate partnership, etc., as determined solely by the Company) (the “Discontinuance Date”).

 

	
			4.

				
			Payment of Accumulated Deferred Salary.

			
	 	At the Discontinuance Date, the Company in its sole discretion will determine the form of payment to be made to Employee for the accumulated Deferred Salary. Such payment may be made in cash, in the form of Company Stock, or in a combination of cash and stock.

 

ACCEPTANCE

	 	 	 	 
	
			Employee

				 	 	
			Date

				 
	 	 	 	 	 
	 	 	 	 	 
	
			Agreed:

				 	 	 	 
	 	
			GeoVax, Inc.

				 	 	 
	 	
			By:ex_107979.htm

Exhibit 10.2.2

 

GEOVAX, INC.

SALARY DEFERRAL AGREEMENT

 

 

This Salary Deferral Agreement (the “Agreement”) is entered into as of April 25, 2016 by and between GeoVax, Inc., a Georgia Corporation (the “Company”), and Mark W. Reynolds (the “Employee”).

 

Whereas, the Company and Employee recognize that it is in the best interests of the Company, its shareholders, and its collective Employees to conserve the Company’s cash resources; and

 

Whereas, as part of its cash conservation measures, the Company is asking certain of its employees to accept salary reductions and/or deferrals; 

 

Whereas, Employee currently is currently earning an annualized gross salary of $234,392 (“Base Salary”); 

 

Now, therefore, the parties hereby agree as follows:

 

	
			1.

				
			Salary Deferral.

			
	 	Effective May 1, 2016, Employee agrees to accept a deferral of 40% of his Base Salary, which amount will be accrued and paid to Employee as described below.

 

	
			2.

				
			Discontinuance of Salary Reduction and/or Deferral

			
	 	Employee’s Salary Deferral pursuant to this Agreement shall end upon the earlier of (i) a significant event (to include financing, corporate partnership, etc., as determined by the Company), or (ii) December 31, 2016 (the “Discontinuance Date”).

 

	
			3.

				
			Payment of Accumulated Deferred Salary.

			
	 	At the Discontinuance Date, the Company in its sole discretion will determine the form of payment to be made to Employee for the accumulated Deferred Salary. Such payment may be made in cash, in the form of Company Stock, or in a combination of cash and stock.

 

 

ACCEPTANCE

	 	 	 	 
	
			Employee

				 	 	
			Date

				 
	 	 	 	 	 
	 	 	 	 	 
	
			Agreed:

				 	 	 	 
	 	
			GeoVax, Inc.

				 	 	 
	 	
			By:ex_107980.htm

Exhibit 10.2.3

 

GEOVAX, INC.

AMENDMENT NO. 1 TO SALARY DEFERRAL AGREEMENT

 

This Amendment No. 1 to Salary Deferral Agreement (the “Agreement”) is entered into as of July 1, 2017 by and between GeoVax, Inc., a Georgia Corporation (the “Company”), and Mark W. Reynolds (the “Employee”).

 

Whereas, the Company and Employee entered into a Salary Deferral Agreement (the “Original Agreement”) dated April 25, 2016; and

 

Whereas, the Company and Employee recognize that it is in the best interests of the Company, its shareholders, and its collective Employees to conserve the Company’s cash resources; and as part of its cash conservation measures, the Company has asked certain of its employees to accept salary reductions and/or deferrals; and

 

Whereas, the Company and Employee acknowledge that the Original Agreement and this amendment have been entered into for the express purpose of conserving the Company’s cash resources and not for executive compensation tax planning purposes, and 

 

Whereas, Employee currently is currently earning an annualized gross salary of $234,392 (“Base Salary”); 

 

Now, therefore, the parties hereby agree as follows:

 

	
			1.

				
			Accumulated Salary Deferral.

			
	 	Employee acknowledges his prior verbal agreement to continue the salary deferral pursuant to the Original Agreement through June 30, 2017. The Company and Employee acknowledge and agree that the accumulated amount of deferred salary owed to Employee as of June 30, 2017 is $109,382.84.

 

	
			2.

				
			Continuation of Salary Deferral.

			
	 	Employee agrees to continue deferral of 40% of his Base Salary, which amount will be accrued and paid to Employee as described below.

 

	
			3.

				
			Discontinuance of Salary Reduction and/or Deferral

			
	 	Employee’s Salary Deferral pursuant to this Agreement shall end upon the occurrence of a significant event (to include financing, corporate partnership, etc., as determined solely by the Company) (the “Discontinuance Date”).

 

	
			4.

				
			Payment of Accumulated Deferred Salary.

			
	 	At the Discontinuance Date, the Company in its sole discretion will determine the form of payment to be made to Employee for the accumulated Deferred Salary. Such payment may be made in cash, in the form of Company Stock, or in a combination of cash and stock.

 

ACCEPTANCE

	 	 	 	 
	
			Employee

				 	 	
			Date

				 
	 	 	 	 	 
	 	 	 	 	 
	
			Agreed:

				 	 	 	 
	 	
			GeoVax, Inc.

				 	 	 
	 	
			By:ex_107981.htm

Exhibit 10.3.2

 

GEOVAX, INC.

SALARY DEFERRAL AGREEMENT

 

 

This Salary Deferral Agreement (the “Agreement”) is entered into as of April 25, 2016 by and between GeoVax, Inc., a Georgia Corporation (the “Company”), and Harriet L. Robinson (the “Employee”).

 

Whereas, the Company and Employee recognize that it is in the best interests of the Company, its shareholders, and its collective Employees to conserve the Company’s cash resources; and

 

Whereas, as part of its cash conservation measures, the Company is asking certain of its employees to accept salary reductions and/or deferrals; 

 

Whereas, Employee currently is currently earning an annualized gross salary of $265,750 (“Base Salary”), which has been previously reduced by 50% to $132,875, based on Employee’s reduction of her time devoted to the Company’s business; 

 

Now, therefore, the parties hereby agree as follows:

 

	
			1.

				
			Salary Deferral.

			
	 	Employee agrees to accept a deferral of 50% of her remaining Base Salary as previously reduced, which amount will be accrued and paid to Employee as described below.

 

	
			2.

				
			Discontinuance of Salary Reduction and/or Deferral

			
	 	Employee’s Salary Deferral pursuant to this Agreement shall end upon the earlier of (i) a significant event (to include financing, corporate partnership, etc., as determined by the Company), or (ii) December 31, 2016 (the “Discontinuance Date”).

 

	
			3.

				
			Payment of Accumulated Deferred Salary.

			
	 	At the Discontinuance Date, the Company in its sole discretion will determine the form of payment to be made to Employee for the accumulated Deferred Salary. Such payment may be made in cash, in the form of Company Stock, or in a combination of cash and stock.

 

 

ACCEPTANCE

	 	 	 	 
	
			Employee

				 	 	
			Date

				 
	 	 	 	 	 
	 	 	 	 	 
	
			Agreed:

				 	 	 	 
	 	
			GeoVax, Inc.

				 	 	 
	 	
			By:ex_107982.htm

Exhibit 10.3.3

 

GEOVAX, INC.

AMENDMENT NO. 1 TO SALARY DEFERRAL AGREEMENT

 

This Amendment No. 1 to Salary Deferral Agreement (the “Agreement”) is entered into as of July 1, 2017 by and between GeoVax, Inc., a Georgia Corporation (the “Company”), and Harriet L. Robinson (the “Employee”).

 

Whereas, the Company and Employee entered into a Salary Deferral Agreement (the “Original Agreement”) dated April 25, 2016; and

 

Whereas, the Company and Employee recognize that it is in the best interests of the Company, its shareholders, and its collective Employees to conserve the Company’s cash resources; and as part of its cash conservation measures, the Company has asked certain of its employees to accept salary reductions and/or deferrals; and

 

Whereas, the Company and Employee acknowledge that the Original Agreement and this amendment have been entered into for the express purpose of conserving the Company’s cash resources and not for executive compensation tax planning purposes, and 

 

Whereas, Employee currently is currently earning an annualized gross salary of $265,750 (“Base Salary”), which has been previously reduced by 50% to $132,875, based on Employee’s reduction of her time devoted to the Company’s business; 

 

Now, therefore, the parties hereby agree as follows:

 

	
			1.

				
			Accumulated Salary Deferral.

			
	 	Employee acknowledges his prior verbal agreement to continue the salary deferral pursuant to the Original Agreement through June 30, 2017. The Company and Employee acknowledge and agree that the accumulated amount of deferred salary owed to Employee as of June 30, 2017 is $77,510.44

 

	
			2.

				
			Continuation of Salary Deferral.

			
	 	Employee agrees to continue deferral 50% of her Base Salary as previously reduced, which amount will be accrued and paid to Employee as described below.

 

	
			3.

				
			Discontinuance of Salary Reduction and/or Deferral

			
	 	Employee’s Salary Deferral pursuant to this Agreement shall end upon the occurrence of a significant event (to include financing, corporate partnership, etc., as determined solely by the Company) (the “Discontinuance Date”).

 

	
			4.

				
			Payment of Accumulated Deferred Salary.

			
	 	At the Discontinuance Date, the Company in its sole discretion will determine the form of payment to be made to Employee for the accumulated Deferred Salary. Such payment may be made in cash, in the form of Company Stock, or in a combination of cash and stock.

 

ACCEPTANCE

	 	 	 	 
	
			Employee

				 	 	
			Date

				 
	 	 	 	 	 
	 	 	 	 	 
	
			Agreed:

				 	 	 	 
	 	
			GeoVax, Inc.

				 	 	 
	 	
			By:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00281-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00281-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00281-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00281-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00281-of-00352.parquet"}]]