FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
Exhibit 10.1
FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
This First Amendment to Employment Agreement (this “Amendment”) is effective on June 6, 2018 (the “Effective Date”), by and between Oragenics, Inc., a Florida corporation (the “Company”), and Xxxx Xxxxxx (the “Executive”) (Company and Executive may be referred to hereinafter individually, as a “Party” or collectively, as the “Parties”).
WHEREAS, the Company and Executive entered into that certain Employment Agreement (the “Agreement”) on June 6, 2016;
WHEREAS, the Initial Term of the Agreement (as extended for an additional twelve (12) months as provided in the Agreement) ends on June 6, 2018 (the “Current Expiration Date”);
WHEREAS, the Company and Executive mutually desire to extend the term of the Agreement for an additional two year period commencing on the Current Expiration Date and ending on June 6, 2020; and
WHEREAS, the Company and Executive desire to maintain all of the terms and conditions of the Agreement and its incorporated exhibits except as modified herein.
NOW THEREFORE, in consideration of the mutual covenants and agreements contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:
| 1. | Recitals. The Parties acknowledge and agree that the recitals set forth above are true and correct and are hereby incorporated herein by reference. |
| 2. | Modification of Section 3 Term. Unless earlier terminated in accordance with the provisions of the Agreement, the Term (as defined in the Agreement) of the Agreement shall be extended for two (2) years beginning on the Agreement’s Current Expiration Date and ending on June 6, 2020. |
| 3. | Other Provisions Unaffected. Except as expressly modified and amended herein, all terms, conditions and covenants set forth in the Agreement are hereby reaffirmed and shall remain in full force and effect and unaffected by this Amendment; provided, however, that to the extent of any inconsistency between the terms of this Amendment and the Agreement, this Amendment shall control. |
| 4. | Counterparts. This Agreement may be executed in any number of counterparts and it shall not be necessary for the parties to execute any of the same counterparts hereof. Counterparts to this Agreement may be delivered via facsimile, electronic mail (including pdf) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes. |
IN WITNESS WHEREOF, the Parties have executed this Agreement to be effective as of the day and year first written above.
| COMPANY | ||
| Oragenics, Inc., a Florida corporation | ||
| By: | /s/ Xxxxxxx Xxxxxxxx | |
| Name: | Xxxxxxx Xxxxxxxx | |
| Title: | Chief Financial Officer | |
| EXECUTIVE | ||
| /s/ Xxxx Xxxxxx | ||
| Xxxx Xxxxxx | ||
