SEC Contract Filing

Filing Date: 2020-12-10

Document Content:
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<TYPE>EX-10.4
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<FILENAME>tm2038220d1_ex10-4.htm
<DESCRIPTION>EXHIBIT 10.4
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.4</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">December 7, 2020</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">Dr. Alan J. Tuchman</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">18 Sycamore Road</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mahopac, NY 10541</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Synaptogenix Inc. (the
 &ldquo;<U>Company</U>&rdquo;), is pleased to present this offer (the &ldquo;<U>Offer</U>&rdquo;) of employment with the Company
on the terms described below. It is anticipated that you will commence your employment with the Company on December 7, 2020 (such
actual date of the start of your employment, the &ldquo;<U>Start Date</U>&rdquo;).</P>

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<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;</FONT><B><U>Position</U>.</B> You will be employed as the Company&rsquo;s Chief Executive Officer (&ldquo;Executive&rdquo;), reporting
to the Company&rsquo;s Board of Directors (the &ldquo;<U>Board</U>&rdquo;). You will devote the majority of your business time
and your best professional efforts to the performance of your duties and responsibilities for the Company and its affiliates and
to abide by all policies and procedures of the Company as in effect from time to time, understanding that you have other commitments
such as your medical practice, various business ventures and other current commitments that require minimal time. As the Company&rsquo;s
Chief Executive Officer, you will be expected to perform the duties of associated with such title and such other duties as may
be assigned to you from time to time by the Board.</P>

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<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;</FONT><B><U>Term.</U></B> Your employment pursuant to this Offer commences on December 7, 2020 (the &ldquo;Effective Date&rdquo;)
and shall continue for a period of one (1) year ending on the first anniversary of the Effective Date. Following this initial one-year
term, this Offer shall be extended automatically for successive six (6) month periods unless either party gives written notice
to the other party at least thirty (30) days prior to the end of the initial one year of the then-current extended term.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Base Salary</U>.</B> You will be paid an annual base salary (the &ldquo;<U>Base Salary</U>&rdquo;) at the rate of
$222,000 per annum, payable pursuant to the Company&rsquo;s regular payroll schedule in effect from time to time. This amount includes
reimbursement for medical expenses. Excluding medical coverage, the Executive will be eligible for dental, vision, disability and
other benefits consistent with your Executive position.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Annual Bonus.</U></B> In addition to the Base Salary, you will be eligible to earn an annual bonus (the &ldquo;<U>Annual
Bonus</U>&rdquo;) of up to 50% of your Base Salary. The amount of the Annual Bonus earned, if any, will be based upon your performance
and the achievement of key operational and financial performance objectives determined by the Board at the commencement of each
performance year. You must be employed on the payment date in order to receive the Annual Bonus.</P>

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