Document:

Exhibit 4

              AMENDMENT NO. 2 TO EMPLOYMENT AGREEMENT BETWEEN SIGA
         PHARMACEUTICALS, INC. AND DENNIS E. HRUBY DATED JANUARY 1, 1998

Paragraph 1 of the above Agreement, as amended on October 18, 1999, shall be
deleted in its entirety and replaced with the following:

1. Employment for Term. The Corporation hereby employs Hruby and Hruby hereby
accepts employment with the Corporation for the period beginning on the date of
this Agreement and ending on December 31, 2002 (the "Initial Term"), or upon the
earlier termination of the Term pursuant to Section 7. The foregoing
notwithstanding, Corporation shall have the right to terminate Hruby's
employment under this Agreement upon 180 days written notice and such
termination will be treated as Termination with Cause pursuant to Section 8 of
this Agreement. The termination of Hruby's employment under this Agreement shall
end the Term but shall not terminate Hruby's or the Corporation's other
agreements in this Agreement, except as otherwise provided in this Agreement.

Paragraph 3 shall be deleted in its entirety and replaced with the following:

3.    Position and Duties. During the Term, Hruby shall serve as the Chief
      Scientific Officer of SIGA Research Laboratories, the Corporation's
      biotechnology division. During the Term, Hruby shall also hold such
      additional positions and titles as the Board of Directors of the
      Corporation (the "Board") may determine from time to time. During the
      Term, Hruby shall devote his full time and efforts to his duties as an
      employee of the Corporation (aside from his commitment to Oregon State
      University to oversee research funded by, or of interest to, the
      Corporation).

Section 4 shall be deleted in its entirety and replaced with the following:

4.

      (a)   Base Salary. The Corporation shall pay Hruby a base salary,
            beginning June 12, 2000, of $180,000, payable at least monthly on
            the Corporation's regular pay cycle for professional employees.

      (b)   Stock Options. Pursuant to the Corporation's stock option plan, the
            Corporation shall grant to Hruby options to purchase 125,000 shares
            of the Corporation's Common Stock at an exercise price of $2.00 per
            share. The options shall vest as follows: 25,000 shares on December
            31, 2000; 25,000 shares on June 30, 2001; 25,000 shares on December
            31, 2001; 25,000 shares on June 30, 2002, and 25,000 shares on
            December 31, 2002. In the event of a sale or merger of SIGA Research
            Laboratories or in the event of a change in ownership of greater
            than fifty percent (50%) of the Corporation's outstanding voting
            stock or any transaction described in Section 10(b), all unvested
            stock options issued pursuant to this agreement shall immediately
            vest.

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      (c)   Lock-up. All shares issued pursuant to the above grant of 125,000
            options shall be subject to a lock-up agreement and Hruby will not
            be permitted to sell any such shares until six months after his
            employment with the Corporation ends. Beginning six months after
            Hruby's employment with the Corporation ends, the shares will be
            released from the lock-up at a rate of 12,500 shares per month.

      (d)   Additional Compensation. Hruby shall receive an annual cash bonus
            equal to one percent (1.0%) of all net revenues generated in a
            given year by Hruby and the employees of SIGA Research Laboratories.
            The bonus shall be paid on December 1 of each year of employment.
            Net revenues shall include all research grants, research support
            from other companies received by SIGA Research Laboratories and
            milestone payments received pursuant to license or sub-license
            agreements. Net revenues shall not include expense reimbursements
            (e.g. for patent expenses), royalties on product sales pursuant to a
            sublicense or revenues from direct product sales by the Corporation.
            Payments by SIGA to third parties (e.g. universities) for additional
            research and development of the technologies that are the subject of
            the funding shall be deducted from gross revenues in calculating net
            revenues.

Notices to the Corporation, as described in Section 13, shall be sent to:

               SIGA Technologies, Inc.
               420 Lexington Avenue, Suite 620
               New York, NY 10170
               Fax: 212-697-3130
               Attention: Joshua D. Schein

With a copy to:

               Camhy Karlinsky & Stein LLP
               1740 Broadway, 16th Floor
               New York, NY 10010
               Fax: 212-977-8389
               Attention: Jeffrey Fessler, Esq.

AGREED AND ACCEPTED:

SIGA TECHNOLOGIES, INC.

By:  /s/ Joshua D. Schein               Date: 6/16/00
     ------------------------------           ----------------------------------
     Joshua D. Schein
Its: Chief Executive Officer

By:  /s/ Dennis E. Hruby                Date: 6/13/00
     ------------------------------           ----------------------------------
     Dennis E. HrubyExhibit 5

***************************** NOTICE OF GRANT AWARD ****************************
NIH CHALLENGE GRANTS AND PARTNERSHIPS                     Issue Date: 05/03/2000

Department of Health and Human Services
National Institutes Of Health

NATIONAL INSTITUTE OF ALLERGY AND INFECTIOUS DISEASES
********************************************************************************

Grant Number: 1 RC1 AI48870-01
Principal Investigator: HRUBY, DENNIS E PHD
Project Title: NOVEL ANTI-INFECTIVES TO COMBAT RESISTANT STAPHYLOCOCCUS

CFO
SIGA TECHNOLOGIES, INC
420 LEXINGTON AVE.
SUITE 620
NY, NY 10170

Budget Period:         05/03/2000 - 08/31/2000
Project Period:        05/03/2000 - 08/31/2000

Dear Business Official:

The National Institutes of Health hereby awards a grant in the amount of
$26,000(see "Award Calculation" in Section I) to SIGA PHARMACEUTICALS, INC. in
support of the above referenced project. This award is pursuant to the authority
of 42 USC 241 P.L. 106 - 113 and is subject to terms and conditions referenced
below.

Acceptance of this award including the Terms and Conditions is acknowledged by
the grantee when funds are drawn down or otherwise obtained from the grant
payment system.

Award recipients are responsible for reporting inventions derived or reduced to
practice in the performance of work under this grant. Rights to inventions vest
with the grantee organization provided certain requirements are met and there is
acknowledgement of NIH support. In addition, recipients must ensure that patent
and license activities are consistent with their responsibility to make unique
research resources developed under this award available to the scientific
community, in accordance with NIH policy. For additional information, please
visit http://www.iedison.gov.

If you have any questions about this award, please contact the individual(s)
referenced in the information below.

Sincerely yours,

/s/ Ann H. Haugh

Grants Management Officer
NATIONAL INSTITUTE OF ALLERGY AND INFECTIOUS DISEASES

See additional information below

<PAGE>

SECTION I - AWARD DATA - 1 RC1 AI48870-01

AWARD CALCULATION (U.S. Dollars):

Direct Costs                                                             $18,000
F&A Costs                                                                $ 8,000
APPROVED BUDGET                                                          $26,000
TOTAL                                                                    $26,000

FISCAL INFORMATION:
CFDA Number: 93.855
EIN: 1133864870A1
Document Number: R1AI48870A

IC/ CAN / FY2000

AI / 8425554 / 26,000

NIH ADMINISTRATIVE DATA:
PCC: M36 / OC: 41.4A /Processed: PFELNER 000501 0942

SECTION II - PAYMENT/HOTLINE INFORMATION - 1 RC1 AI48870-01

For Payment and HHS Office of Inspector General Hotline Information, see the NIH
Home Page at http://grants.nih.gov/grants/policy/awardconditions.htm

SECTION III - TERMS AND CONDITIONS - 1 RC1 AI48870-01

This award is based on the application submitted to, and as approved by, the NIH
on the above-titled project and is subject to the terms and conditions
incorporated either directly or by reference in the following:

a. The grant program legislation and program regulation cited in this Notice of
Grant Award.

b. The restrictions on the expenditure of federal funds in appropriations acts,
to the extent those restrictions are pertinent to the award.

c. 45 CFR Part 74 or 45 CFR Part 92 as applicable.

d. The NIH Grants Policy Statement, including addenda in effect as of the
beginning date of the budget period.

e. This award notice, INCLUDING THE TERMS AND CONDITIONS CITED BELOW.

(see NIH Home Page at http://grants.nih.gov/grants/policy/awardconditions.htm
for certain references cited above.)

This grant is excluded from Expanded Authorities.

Treatment of Program Income:
Additional Costs

"The policies, as stated in the NIH Grants Policy Statement of October 1998 and
RFA AI-00-010, as announced in the NIH Guide for Grants and Contracts on
February 10, 2000 must be followed."

http://grants.nih.gov/grants/guide/rfa-files/RFA-AI-00-O1O.html

Travel funds, in the amount of $1,000, are provided for an individual to attend
a mandatory Challenge Grant Program - Phase II meeting to be held on May 8,
2000. Additional information will be provided in a separate letter. These funds
are restricted for this purpose only and may not be rebudgeted.

For Phase I Challenge Grants - Restriction: Federal funds shall not be expended
for research involving live vertebrate animals or human subjects, and
individuals shall not be enrolled in such research without prior approval of the
Office for Protection from Research Risks (OPRR)."

<PAGE>

The above referenced grant is scheduled to expire on 8/31/00. Unless an
application for competitive renewal is funded, grant closeout documents must be
submitted within 90 days of the expiration of the grant. Grant closeout
documents consist of a Financial Status Report (OMB 269), Final Invention
Statement (HHS 568) and a Final Progress Report.

The Final Progress Report may be typed on plain white paper and should include,
at a minimum, a summary statement of progress toward the achievement of the
originally stated aims, a list of results (positive and/or negative) considered
significant, and a list of publications resulting from the project as well as
plans for further publications. An original and one copy are required.

Please send the Final Progress Report and Final Invention Statement & a copy of
the Financial Status Report to the following address:

ATTENTION: CLOSEOUT
NIH, NIAID, Division of Extramural Activities
Grants Management Branch
Room 2200, 6700-B Rockledge Drive, MSC-7614
Bethesda, Maryland 20892-7614

The Financial Status Report should be sent to:

Division of Financial Management, NIH
9000 Rockville Pike, MSC-2052
Building 31, Room B1B05A
Bethesda, Maryland 20892-2052

Grants Management Contact:

Patricia Felner
(301) 402-6450 phone
(301) 480-3780 fax
pf14h@nih.gov email
Stephen P Heyse, Program Official          301-496-7728       sh42i@nih.gov
Karen McVay, Grants Specialist

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