Exhibit 10.14
February 14, 2001
VIA FIRST CLASS MAIL
Xxxxxxx X. Xxxxxx
000 Xxxxxx Xxxx
Xxxx Xxxx, XX 00000
RE: CONSULTING AGREEMENT BETWEEN GENVEC, INC. AND XXXXXXX X. XXXXXX
(GV REF. NO. CSA60004)
Dear Herb:
This letter will confirm the extension of the Consulting Agreement
entered into between you ("Consultant") and GenVec, Inc. ("GenVec") effective
March 17, 1999 (the "Agreement"). Pursuant to Section 7 of the Agreement, the
parties hereby agree that the term of the Agreement shall be extended an
additional year on the same terms and conditions of the Agreement, such that it
shall terminate on March 17, 2002 ("Term"). In consideration of the extension of
the Agreement for an additional year, GenVec shall pay Consultant One Thousand
Five Hundred dollars ($1, 500.00) per day of consulting services requested by
GenVec and rendered by Consultant.
Please indicate agreement to the above by countersigning this
letter and returning one copy to my attention. Please do not hesitate to contact
me if you have any questions.
Yours truly,
Xxxx X. Xxxxxxx, Ph.D.
President & CEO
UNDERSTOOD AND AGREED:
Xxxxxxx X. Xxxxxx
("Consulant")
By:
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Xxxxxxx X. Xxxxxx
Date:
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April 1, 2001
VIA FIRST CLASS MAIL
Xxxxxxx X. Xxxxxx, M.D.
000 Xxxxxx Xxxx
Xxxx Xxxx, XX 00000
RE: CONSULTING AGREEMENT BETWEEN GENVEC, INC. AND XXXXXXX X. XXXXXX,
EFFECTIVE 3/17/99 (GV REF. NO. CSA60004)
Dear Herb:
This letter will confirm the change in compensation to the above
referenced Consulting Agreement. The parties hereby agree to amend Section 2 of
the Agreement by replacing it in its entirety with the following new Section 2:
2. COMPENSATION. As Consideration for Consultant's performance
of the Agreement, GenVec shall pay Consultant a total of Fifteen Thousand U.S.
Dollars ($15,000) per month for up to ten (10) days of consulting services. For
any additional mutually agreed upon days of consulting services, GenVec shall
pay Consultant a total of One Thousand Five Hundred U.S. Dollars ($1,500) per
day, or for any portion of an additional mutually agreed upon day, Consultant
shall be compensated on an hourly basis at the rate of One Hundred Eighty-Seven
U.S. Dollars ($187.00) per hour. GenVec shall pay such consideration within
thirty (30) days of Consultant's rendering of such services. In the event that
Consultant renders more than ten (10) days of consulting service, Consultant
shall provide to GenVec written documentation, in a form reasonably acceptable
to GenVec, stating the number of additional days (or hours, if applicable) of
consulting services provided during the prior calendar month. Such statement
shall be sent to the attention of the Accounts Payable Department at GenVec, and
GenVec shall pay such consideration within thirty (30) days of receiving such
documentation. Consultant acknowledges that no amount will be withheld from his
consulting fees hereunder for payment of any federal, national, state, or local
taxes, and that Consultant has sole responsibility to pay such taxes, if any,
and to file such returns as may be required by applicable laws and regulations.
Such amendment shall be effective as of April 1, 2001. Please indicate agreement
to the above by countersigning this letter and returning one copy to my
attention. Please do not hesitate to contact me if you have any questions.
Yours truly,
Xxxx X. Xxxxxxx, Ph.D.
President & CEO
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UNDERSTOOD AND AGREED:
Xxxxxxx X. Xxxxxx
("Consulant")
By:
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Xxxxxxx X. Xxxxxx
Date:
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