SEC Contract Filing

Filing Date: 2024-09-27

Document Content:
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<TYPE>EX-10.01
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<FILENAME>ex10-01.htm
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt"><B>Exhibit 10.01</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps"><B>PALISADE
BIO, INC.</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>EXECUTIVE
EMPLOYMENT AGREEMENT</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
Executive Employment Agreement (the &ldquo;<B><I>Agreement</I></B>&rdquo;) is made and entered into as of September 25, 2024 (the &ldquo;<B><I>Effective
Date</I></B>&rdquo;), by and between J.D. Finley (&ldquo;<B><I>Executive</I></B><I>&rdquo;</I>) and Palisade Bio, Inc. (the &ldquo;<B><I>Company</I></B>&rdquo;).</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps"><B>Now,
Therefore</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">, in consideration of the mutual promises
and covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged,
the parties hereto agree as follows:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1.
Employment by the Company.</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1.1
Position.</B> Executive shall serve as the Company&rsquo;s Chief Executive and Chief Financial Officer and shall report to the Company&rsquo;s
Board of Directors (&ldquo;<B><I>Board</I></B>&rdquo;). During the term of Executive&rsquo;s employment with the Company, Executive will
devote Executive&rsquo;s best efforts and substantially all of Executive&rsquo;s business time and attention to the business of the Company,
except for approved vacation periods and reasonable periods of illness or other incapacities permitted by the Company&rsquo;s general
employment policies.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1.2
Duties and Location.</B> Executive shall perform such duties as are customarily associated with the position of Chief Executive and Chief
Financial Officer and such other duties as are assigned to Executive by the Board. Executive will provide services both remotely and
in person and will be required to travel to the Company&rsquo;s headquarters located in Carlsbad, California, from time to time. Subject
to the terms of this Agreement, the Company reserves the right to (a) reasonably require Executive to perform Executive&rsquo;s duties
at places other than Executive&rsquo;s primary office location from time to time and to require reasonable business travel, and (b) modify
Executive&rsquo;s job title and duties as it deems necessary and appropriate in light of the Company&rsquo;s needs and interests from
time to time.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1.3
Policies and Procedures.</B> The employment relationship between the parties shall be governed by the general employment policies and
practices of the Company, except that when the terms of this Agreement differ from or are in conflict with the Company&rsquo;s general
employment policies or practices, this Agreement shall control.</FONT></P>

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