SEC Contract Filing

Filing Date: 2017-09-01

Document Content:
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<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>v474573_ex10-4.htm
<DESCRIPTION>EXHIBIT 10.4
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<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 10.4</B></P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">This <FONT STYLE="text-transform: uppercase">Amendment
to Employment Agreement</FONT> (this &ldquo;<U>Amendment</U>&rdquo;) is made and entered as of this 28th day of August, 2017, (the
&ldquo;<U>Amendment Effective Date</U>&rdquo;) by and between Alliqua Biomedical, Inc., a Delaware corporation (the &ldquo;<U>Company</U>&rdquo;),
and Nino Pionati (the &ldquo;<U>Executive</U>&rdquo;) for purposes of amending that certain Employment Agreement dated as of June
3, 2015 by and between the Company and the Executive (the &ldquo;<U>Agreement</U>&rdquo;). Terms used in this Amendment with initial
capital letters that are not otherwise defined herein shall have the meanings ascribed to such terms in the Agreement.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, Article
V, Section G of the Agreement provides that the parties to the Agreement may amend the Agreement in a writing signed by the parties;
and</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, the parties
hereto desire to amend the Agreement in certain respects.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>NOW THEREFORE</B>, pursuant
to Article V, Section G of the Agreement, and for good and valuable consideration, the sufficiency of which is hereby acknowledged,
the Company and the Executive agree as follows:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article
III of the Agreement is hereby amended by deleting said article in its entirety and substituting in lieu thereof the following
new Article III:</P>

<P STYLE="color: #0D0D0D; font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="color: #0D0D0D; font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">ARTICLE III.<BR>
<U>TERM; TERMINATION</U></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #242424">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt"><B><U>Term
of Agreement/Employment</U>.</B> The Agreement&rsquo;s stated term and the employment relationship created hereunder will remain
in effect until August 28, 2020, unless earlier terminated in accordance with this <U>Article III</U>.&nbsp; This Agreement shall
be automatically renewed for successive one (1) year terms (each one-year period, a &ldquo;<B><I>Renewal Term</I></B>&rdquo;),
unless the Executive&rsquo;s employment is terminated by either party upon written notice provided not less than four (4) months
before August 28, 2020 or any Renewal Term, or unless earlier terminated in accordance with this <U>Article III</U>.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #242424">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt"><B><U>Termination</U>.</B>
Either party may terminate the Executive&rsquo;s employment at any time upon written notice. The date of the Executive&rsquo;s
termination shall be the date stated in the notice of termination. Upon termination of the Executive&rsquo;s employment, the Company
shall pay the Executive (i)&nbsp;any unpaid Base Salary accrued through the date of termination, (ii)&nbsp;any unpaid Performance
Bonus earned and accrued for a previously completed calendar year, (iii)&nbsp;any accrued and unpaid vacation or similar pay to
which the Executive is entitled as a matter of law or Company policy, and (iv)&nbsp;any unreimbursed expenses properly incurred
prior to the date of termination (the <B>&ldquo;<I>Accrued Obligations</I>&rdquo;</B>)<I>. </I>The Executive&rsquo;s termination
under this Agreement shall also constitute the Executive&rsquo;s resignation as an officer or director of any affiliate or subsidiary
of the Company, as applicable.</FONT></P>

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