SEC Contract Filing

Filing Date: 2023-09-21

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ea185523ex10-1_aditxtinc.htm
<DESCRIPTION>SECOND AMENDMENT TO SEPARATION AGREEMENT AND GENERAL RELEASE DATED SEPTEMBER 18, 2023
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>SECOND AMENDMENT TO </U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>SEPARATION AGREEMENT AND GENERAL RELEASE</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This second amendment (&ldquo;<U>Amendment</U>&rdquo;)
dated as of September 18, 2023 (&ldquo;<U>Amendment Effective Date</U>&rdquo;) to that certain Separation Agreement and General Release
dated as of July 27, 2023, as amended August 15, 2023 (the &ldquo;<U>Agreement</U>&rdquo;), is entered into by and between Matthew Shatzkes
(&ldquo;<U>Employee</U>&rdquo;), and Aditxt, Inc., a Delaware corporation (&ldquo;<U>Employer</U>&rdquo;, and together with Employee,
the &ldquo;<U>Parties</U>&rdquo; and each, a &ldquo;<U>Party</U>&rdquo;). All defined terms used herein that are not otherwise defined
are used as defined in the Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, pursuant to
Section 13 of the Agreement, the Parties desire to amend the Agreement as set forth herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>NOW, THEREFORE</B>, in
consideration for the promises contained herein and the mutual obligations of the Parties, the receipt and sufficiency of which are hereby
expressly acknowledged, the Parties, intending to be legally bound, hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Article 1. <U>Amendments</U>.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 1.1. The first
three sentences of Section 1 of the Agreement (as amended) are deleted in their entirety and replaced with the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify">&ldquo;Employee acknowledges that he has been
paid the following amounts, less applicable deductions: (i) twenty two thousand two hundred twelve dollars and zero cents ($22,212.00),
representing Employee&rsquo;s accrued Base Compensation (as that term is defined in the Executive Agreement) through the Termination Date;
(ii) ten thousand twenty dollars and sixteen cents ($10,020.16), representing a portion of Employee&rsquo;s Subsequent Quarterly Bonus
(as that term is defined in the Executive Agreement); and (iii) thirty-two thousand five hundred seventy-five dollars and eighty-four
cents ($32,575.84), representing Employee&rsquo;s accrued, but unused paid time off as of the Termination Date, which was one hundred
and seventy-six (176) hours. No later than September 20, 2023, Employer shall pay to Employee the following amounts, less applicable deductions:
(i) ninety thousand sixty dollars and sixteen cents ($90,060.16), representing the balance of Employee&rsquo;s Subsequent Quarterly Bonus;
(ii) one thousand dollars ($1,000), representing consideration for entering into the first amendment; and (iii) five hundred dollars ($500),
to serve as consideration for executing this Amendment.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 1.2. The last sentence in each
of Section 2(a) and Section 2(b) of the Agreement (as amended) is deleted in its entirety and replaced with the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify; text-indent: 0in">&ldquo;Such amount shall
be paid in one lump sum no later than September 20, 2023.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 1.3. Except
as expressly provided in this Amendment, all other terms, conditions and provisions of the Agreement shall continue in full force
and effect as provided therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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