EMPLOYMENT AGREEMENT EXTENSION
Exhibit
10.1
Reference
is made to the Employment Agreement (the “Agreement”), dated as of July 21,
2004, by and between Ziopharm, Inc., a Delaware corporation and the predecessor
to ZIOPHARM Oncology, Inc., a Delaware corporation (the “Company”), and XXXXXXX
XXXXXX (the “Employee”). All terms used, but not otherwise defined herein, shall
have the meanings assigned to them in the Agreement.
Each
of
the Board, the Company and the Employee hereby consent and agree as
follows:
1. |
Pursuant
to Section 2 of the Agreement, the Term is extended for an additional
one
(1) year period.
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2. |
The
first sentence of Section 4(a) of the Agreement is hereby amended
and
restated in its entirety, as follows: “The Company shall pay Employee a
salary (the “Base Salary”) equal to Two Hundred Seventy-Five Thousand
Dollars ($275,000) per year.”
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Except
for the extension of the Term and the amendment to Section 4(a) of the Agreement
provided above, the terms and conditions of the Agreement remain applicable
in
their entirety.
IN
WITNESS WHEREOF, the Company and the Board have caused their respective duly
authorized officer and representative to execute and the Employee has personally
set his hand hereto as of the date set forth below.
ZIOPHARM
Oncology, Inc. and
Its
Board of Directors
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By: | /s/ Xxxxxxxx Xxxxx | |
Name: Xxxxxxxx Xxxxx, M.D. |
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Title: Chief Executive Officer |
EMPLOYEE | ||
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By: | /s/ Xxxxxxx Xxxxxx | |
Name: Xxxxxxx Xxxxxx |
Dated:
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June 18, 2007 |