EXHIBIT 10(k)
E-262
LETTER AGREEMENT BETWEEN THE COMPANY AND XX. XXXXXXX X. XXXXXXXXX
SIGA PHARMACEUTICALS, INC.
000 XXXXX XXXXXX, 00XX XXXXX
XXX XXXX, XX 00000
March 1, 1996
Xx. Xxxxxxx X. Xxxxxxxxx
c/o The Rockefeller University
0000 Xxxx Xxxxxx
Xxx Xxxx, XX 00000
Dear Xxxxx:
This letter agreement is written to confirm that Xx. Xxxxxxx X. Xxxxxxxxx
("Xxxxxxxxx") has identified and introduced SIGA Pharmaceuticals, Inc. ("SIGA")
to certain pharmaceutical companies, including SmithKline Xxxxxxx
Pharmaceuticals and American Home Products, with whom SIGA may collaborate in a
joint venture or research and development activities (a "Transaction").
1. Fees. The Company will grant to Xxxxxxxxx options to purchase shares
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of the Company's Common Stock as follows:
x. Xxxxxxxxx will receive 450,000 options to purchase 450,000 shares
of the Company's Common Stock at a price of $0.25 per share if
and when SIGA enters into a Transaction with a company introduced
by Xx. Xxxxxxxxx.
x. Xxxxxxxxx will receive an additional 450,000 options to purchase
450,000 shares of the Company's Common Stock at a price of $0.25
per share if and when SIGA enters into a Transaction with a
second company introduced by Xx. Xxxxxxxxx.
2. Xxxxxxxxx agrees to participate in meetings (such participation to be
in person or by telephone, as appropriate) at which a potential
Transaction is to be considered. Xxxxxxxxx agrees that information
regarding any potential Transaction will be treated confidentially by
Xxxxxxxxx and Xxxxxxxxx'x representatives or affiliates.
3. Notices. The Company will keep Xxxxxxxxx informed as to the progress
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and status of negotiations with parties introduced by Xxxxxxxxx as
well as to the ultimate result(s) of such negotiations. Any notices,
statements, or payments required by this agreement shall be in writing
and shall be delivered in person, mailed postage prepaid, or
transmitted by telex or facsimile to the parties at the addresses set
forth below (unless delivery is in person), or to such substituted
address as either party may hereafter state in a notice to the other.
If to Xxxxxxxxx:
Xx. Xxxxxxx X. Xxxxxxxxx
c/o The Rockefeller University
0000 Xxxx Xxxxxx
Xxx Xxxx, XX 00000
Fax: 000-000-0000
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If to the Company:
SIGA Pharmaceuticals, Inc.
000 Xxxxx Xxxxxx, 00xx Xxxxx
Xxx Xxxx, XX 00000
Fax: 000-000-0000
4. Binding. This agreement shall inure to the benefit of and be binding
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on the respective parties hereto and the respective executors,
administrators, successors, and assigns.
5. Other. The validity and interpretation of this agreement shall be
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governed by, and construed and enforced in accordance with, the laws
of the State of New York applicable to agreements made and to be fully
performed therein. This agreement may not be modified or amended
except in writing executed by the parties hereto. This agreement, and
any modification or amendment thereto, may be executed in
counterparts, each of which shall be deemed an original and all of
which shall constitute one and the same instrument.
If the foregoing correctly sets forth our agreement, please so indicate by
signing below and returning an executed copy to me.
Very truly yours,
SIGA Pharmaceuticals, Inc.
By: /s/ Xxxxxx X. Xxxxxx
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Xxxxxx X. Xxxxxx
ACCEPTED AND AGREED AS OF
THE DATE FIRST ABOVE WRITTEN
/s/ Xxxxxxx X. Xxxxxxxxx
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Xx. Xxxxxxx X. Xxxxxxxxx
E-264
