SEC Contract Filing

Filing Date: 2020-12-02

Document Content:
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<TYPE>EX-10.1
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<FILENAME>tm2037464d1_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
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<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.75pt"><B>Exhibit 10.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin: 0pt 0 0pt 5.75pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.75pt"><FONT STYLE="font-size: 10pt"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 35px; width: 145px"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt">November 30, 2020</P>

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt">Curt Bradshaw, Ph.D.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt"><B>Re: Offer Letter of Employment</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 333.95pt 0pt 6pt">Dear Dr. Bradshaw:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 333.95pt 0pt 6pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">I am
very pleased to confirm our offer to you of full-time employment with NeuBase Therapeutics, Inc. (the &ldquo;<B>Company</B>&rdquo;)
in the position of Chief Science Officer. Your effective start date will be mutually decided, but our hope is that you are able
to join the Company on or before December 1, 2020. You will work out of the Company&rsquo;s location (office and laboratory), which
you will assist in establishing, in San Diego, CA. We will mutually define a cadence of interactions with the Pittsburgh, PA-based
headquarters that allow seamless operations. The terms of our offer and the benefits currently provided by the Company are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.8pt 0pt 6pt; text-indent: 35.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Salary</B>. Your starting salary will be $400,000 per year, less payroll deductions and withholdings, payable in accordance
with the Company&rsquo;s standard policies and procedures and will be subject to review from time to time in accordance with the
Company&rsquo;s policies. You will be eligible for an annual performance bonus with a target amount equal to 40% of your base salary,
provided you remain employed by the Company on the date bonuses are paid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Benefits. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 5pt; text-align: justify; text-indent: 35.95pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">a.<B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;Vacation</B>.
You will be eligible to participate in regular health insurance and other employee benefit plans established by the Company for
its employees from time to time, subject to the terms and conditions of such plans. The Company reserves the right to change or
otherwise modify, in its sole discretion, the preceding terms of employment. You will be eligible for 21 days of paid time off
each year. The Company currently has 9 paid holidays each year. Paid time-off may be taken in accordance with applicable Company
policies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt 0pt 6pt; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Signing
Bonus. </B>You will be provided with a one-time payment of $150,000 as a signing bonus (the &ldquo;<B>Signing Bonus</B>&rdquo;)
on January 1, 2021. In the event of the termination of your employment due to your resignation without Good Reason (as defined
below) or a termination by the Company for Cause (as defined below), in either case during the 6-month period immediately following
the commencement of your employment, you agree to repay the Signing Bonus to the Company in full within 15 days of your resignation
or termination, as applicable.</P>

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