EMPLOYMENT AGREEMENT RENEWAL

Exhibit 10.14

January 10, 2013

Xxxxxx Xxxxx, Ph.D.

00 Xxxx Xxxx

Pennington, NJ 08534

Dear Xxxxxx:

This letter is to extend your Employment Agreement with Onconova Therapeutics Inc. We wish to renew this agreement to cover the period April 1, 2012 through March 31, 2015.

If you are in agreement with this renewal, please sign below and return a copy to me. As always, if you have any questions, please don’t hesitate to contact me.

Thank you for your leadership to Onconova and its Employees.

Kind regards

Xxxx Xxxxxxxxx

Human Resources and

Investor Relations Manager

	Agree to above renewal:

	/s/ Xxxxxx Xxxxx
	Xxxxxx Xxxxx, Ph.D.

April 10, 2010

Xxxxxx Xxxxx. Ph.D.

00 Xxxx Xxxx

Penninuton, NJ 08534

Dear Xxxxxx:

I am pleased to inform you that the Compensation Committee has approved a 15% salary increase to your annual salary, Your new salary of $371,450, is effective January 01, 2010. In addition, the Committee has also decided to extend your Employment Agreement with for another two years (March 31, 2012) with an additional 100,000 options vesting over 4 years.

Kindly sign and return one copy of this letter to Xxxx Xxxxxxxxx.

Kinds regards,

Xxxx Xxxxxxxxxx

Chairman, Compensation Committee

Agreed:

/s/ Xxxxxxx X. Xxxxxxx
Xxxxxxx X. Xxxxxxx

Accepted:

/s/ Xxxxxx Xxxxx
Xxxxxx Xxxxx, Ph.D.

EMPLOYMENT AGREEMENT

This Employment Agreement (hereinafter this “Agreement”) is effective as of April 1, 2007 (the “Effective Date”), between Onconova Therapeutics, Inc., a Delaware corporation (hereinafter “the Company”) and Xxxxxx Xxxxx, Ph.D. (hereinafter “Xx. Xxxxx”).

WHEREAS, the Company deems it to be in its best interest to secure and retain the services of Xx. Xxxxx, and Xx. Xxxxx desires to work for the Company upon the terms and conditions hereinafter set forth.

WHEREAS, the Company and Xx. Xxxxx desire to have the terms of this Agreement supersede the terms of any and all of Xx. Xxxxx’x prior employment agreements as of the effective date hereof.

NOW, THEREFORE, in consideration of the mutual promises and undertakings herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

1. Term of Employment. Subject to the terms and conditions of this Agreement, the Company hereby employs Xx. Xxxxx, and Xx. Xxxxx xxxxxx accepts employment by the Company. The term of this Agreement shall be for a period of four years, commencing on April 1, 2007 through March 31, 2011, unless sooner terminated as hereinafter provided or extended by mutual agreement of the parties (the “Term”).

2. Duties. Subject to all the terms and conditions hereof, the Company shall employ Xx. Xxxxx, and Xx. Xxxxx shall serve the Company, as President and Chief Executive Officer.

(a) Xx. Xxxxx’x duties, powers and responsibilities as President and Chief Executive Officer shall be those which are customary for such positions, as may be determined from time to time by the Board of Directors of the Company (“the Board”). Xx. Xxxxx agrees to perform and discharge such duties well and faithfully and to be subject to the supervision and direction of the Board. Xx. Xxxxx shall devote sufficient time, attention, energy, and his best efforts to the performance of his duties hereunder and to the promotion of the business and interests of the Company.

(b) The position of President and Chief Executive Officer is a full-time position. Xx. Xxxxx agrees to devote his full-time effort, attention, and energies to this position. Xx. Xxxxx will not render any professional services or engage in any activity which might be competitive with, adverse to the best interest of, or create the appearance of a conflict of interest with the Company. The Company acknowledges that Xx. Xxxxx currently serves on the following boards: Gene to Genetics, Inc. Prior to serving on any additional board of directors, Xx. Xxxxx shall obtain the written permission of the Board, which shall not be unreasonably withheld. Xx. Xxxxx agrees to abide by the policies and rules and regulations of the Company as they may be amended from time to time.

(c) In the event that contracts with or grants from the United States Government are sought by or awarded to the Company, Xx. Xxxxx will devote his best efforts to obtain for the Company, and to maintain throughout the duration of this Agreement, the requisite security clearances and prerequisites required by agencies and entities with oversight or

compliance responsibilities for U.S. Government contractors, in order that the Company be considered for and able to compete or receive as a qualified vendor for contracts with, and a qualified recipient of grants from, the U.S. Government, including but not limited to contracts or grants requiring access to classified information and restricted data, and other contracts or grants with U.S. Government agencies.

3. Compensation and Other Benefits.

(a) Salary. For all services rendered by Xx. Xxxxx under this Agreement, the Company agrees to pay Xx. Xxxxx at an initial annualized rate of Two Hundred Ninety Nine Thousand, Seventy-Six Dollars ($299,076) (the “Base Salary”), in bi-weekly installments in accordance with the Company’s normal payroll cycle, less customary and legally required withholdings.

(b) Annual Bonus. In addition to his other remuneration, Xx. Xxxxx shall be eligible to receive an annual bonus (the “Bonus”) in the amount of up to thirty-five percent (35%) of Xx. Xxxxx’x Base Salary, payable upon the Company’s achievement during such year of certain revenue or profit objectives, specific business plan goals or other performance milestones that have been mutually agreed to by Xx. Xxxxx and the Board; provided, however, that Xx. Xxxxx shall not be entitled to any Bonus for a specific year unless he has been employed by the Company throughout such year. The applicable performance milestones shall be presented to the Compensation Committee by Xx. Xxxxx by [insert date], and the determination of the achievement of such business goals or performance milestones and the amount of the bonus shall be at the sole discretion of the Compensation Committee. In the event that Xx. Xxxxx has earned a Bonus for a specific year, such Bonus shall be paid to Xx. Xxxxx in the form of cash, stock options, shares of the Company’s stock, or a combination thereof, at the Compensation Committee’s discretion within sixty (60) days of the end of such year.

In addition to the Bonus described above, Xx. Xxxxx may be entitled to additional compensation in future years in recognition of extraordinary contributions. The determination of such contributions and the amount of any additional compensation shall be at the sole discretion of the Compensation Committee.

(c) Stock Options. Subject to the approval of the Compensation Committee and the Board, Xx. Xxxxx is granted One Hundred Forty Thousand (140,000) Incentive Stock Options (as defined in the Company’s 2007 Equity Compensation Plan) (the “Options”) pursuant to the terms of the Company’s 2007 Equity Compensation Plan. These Options shall vest proportionately over the four-year period beginning April 1, 2007. The exercise of the Options pertaining to these shares of stock shall be subject to the provisions of the Company’s 2007 Equity Compensation Plan. Each provision of the Company’s 2007 Equity Compensation Plan and each agreement relating to an Incentive Stock Option shall be construed and interpreted in a manner consistent with the requirements of Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”). In no event may Xx. Xxxxx be granted an Incentive Stock Option which does not comply with the grant and vesting limitations prescribed by Section 422 of the Code.

(d) Employee Benefits. During the term of this Agreement, Xx. Xxxxx shall be entitled to participate in all employee benefit plans and programs of the Company that are made generally available from time to time to its executive officers, including but not limited to health insurance, a flexible spending account, and 401(k) participation. The Company shall also provide Xx. Xxxxx with term life insurance coverage in the face amount of Three Hundred Thousand Dollars ($300,000) during the term of this Agreement.

(e) Vacation and Holidays. Xx. Xxxxx shall be entitled each year to five (5) weeks of vacation and to those holidays observed by the Company. As an essential employee of the Company, Xx. Xxxxx shall schedule his vacation and holiday observances so as not to interfere with the performance of his duties as President and Chief Executive Officer.

(f) Professional Expenses. The Company shall reimburse Xx. Xxxxx for all reasonable expenses incurred by Xx. Xxxxx in connection with his employment hereunder, provided, however, that such expenses were incurred in conformance with the policies of the Company, as established from time to time, and that Xx. Xxxxx submits detailed vouchers and other records reasonably required by the Company in support of the amount and nature of such expense.

In the event the Company relocates its research facility more than forty (40) miles away from its present location, Xx. Xxxxx shall be entitled to a reasonable transportation allowance to cover the additional transportation costs associated with such relocation.

Xx. Xxxxx shall also be entitled to up to Ten Thousand Dollars ($10,000) per year for educational programs related to the performance of his duties hereunder.

(g) Taxes and Withholding. All compensation payable and other benefits provided under this Agreement shall be subject to customary and legally required withholding for income, F.I.C.A., and other employment taxes.

4. Termination of Employment.

(a) Death. If Xx. Xxxxx dies during the term of this Agreement, this Agreement shall terminate immediately, and the Company shall pay to Xx. Xxxxx’x then-spouse, if she survives him, or if not, to his estate, the balance of his accrued and unpaid salary, unreimbursed expenses, and his unused accrued vacation time through the termination date.

(b) Disability. If Xx. Xxxxx is unable to perform his full-time regular duties by reason of incapacity, either physical or mental, as determined by a licensed physician mutually acceptable to the parties in the event of a disagreement, for a period of twelve (12) consecutive weeks or ninety (90) days within any twelve (12) month period, the Company shall have the right to terminate Xx. Xxxxx’x employment upon written notice to Xx. Xxxxx. If the Company decides to terminate Xx. Xxxxx’x employment under this Section 4(b), the Company shall pay to Xx. Xxxxx only the balance of his accrued and unpaid salary, unreimbursed expenses, and his unused, accrued vacation time through the termination date. If the Company decides not to terminate Xx. Xxxxx’x employment as allowed under this Section, the Company shall have the option of reducing the salary thereafter payable to Xx. Xxxxx by

the amount of payment Xx. Xxxxx receives pursuant to any disability insurance policy or program.

(c) Termination for Cause. If Xx. Xxxxx’x employment is terminated by the Company for “Cause,” as defined below, during the Term, the Company shall pay Xx. Xxxxx only the balance of his accrued, but unpaid salary, unreimbursed expenses, and his unused, accrued vacation time through the termination date. The Company shall have the right to set off any amounts due to Xx. Xxxxx by any amounts owed by Xx. Xxxxx to the Company at the time Xx. Xxxxx’x employment terminates, and Xx. Xxxxx hereby authorizes the Company to make this setoff.

Xx. Xxxxx’x employment may be terminated for “Cause” at any time upon delivery of written notice to Xx. Xxxxx. “Cause” means the occurrence of any of the following events: (i) any gross failure on the part of Xx. Xxxxx (other than by reason of disability as provided in Section 4(b)) to faithfully and professionally carry out his duties or to comply with any other material provision of this Agreement, which failure continues after written notice thereof by the Company, provided that the Company shall not be required to provide such notice in the event that such failure (A) is not susceptible to remedy or (B) relates to the same type of acts or omissions as to which such notice has been given on a prior occasion; (ii) Xx. Xxxxx’x dishonesty (which shall include without limitation any misuse or misappropriation of the Company’s assets), or other willful misconduct (including without limitation any conduct on the part of Xx. Xxxxx intended to or likely to injure the business of the Company); (iii) Xx. Xxxxx’x conviction for any felony or for any other crime involving moral turpitude, whether or not relating to his employment; (iv) in accordance with applicable federal, state or local laws, Xx. Xxxxx’x insobriety or use of illegal drugs, chemicals or controlled substances either (A) in the course of performing his duties and responsibilities under this Agreement, or (B) otherwise affecting the ability of Xx. Xxxxx to perform the same; (v) Xx. Xxxxx’x failure to comply with a lawful written direction of the Company; or (vi) any wanton and willful dereliction of duties by Xx. Xxxxx. The existence of any of the foregoing events or conditions shall be determined by the Board of Directors in the exercise of its reasonable business judgment.

(d) Termination Without Cause. The Company may terminate Xx. Xxxxx’x employment under this Agreement for any reason at any time upon written notice to Xx. Xxxxx. In the event of a termination “without cause,” Xx. Xxxxx shall be entitled to receive bi-weekly severance payments in amounts equal to his then-current bi-weekly base salary, less applicable payroll withholdings, in accordance with the Company’s normal payroll schedule, commencing as of the date written notice of termination is mailed or otherwise delivered to Xx. Xxxxx and ending on the earlier of (i) the date on which the Term specified by this Agreement expires or (ii) the date Xx. Xxxxx accepts Comparable Employment (defined as receiving total compensation equal to at least seventy-five percent (75%) of his final total compensation from the Company), whether as an employee, consultant, partner, independent contractor or in any other capacity with another business entity. Provided, however, that if Xx. Xxxxx accepts Comparable Employment while receiving payments under this Section within one year of the commencement of the payments under this Section, he shall continue to receive the payments until the earlier of (i) the date on which the Term specified by this Agreement expires, or (ii) one year after the commencement of the payments under this Section. All incentive stock options that are unvested at the time of such termination shall fully vest upon written notice of

such termination. Except as provided in this Section 4(d), all other compensation and benefits shall cease as of the date written notice of termination is mailed to Xx. Xxxxx.

It is the intention of Xx. Xxxxx and of the Company that no payments by the Company to or for the benefit of Xx. Xxxxx under this Agreement or any other agreement or plan, if any, pursuant to which Xx. Xxxxx is entitled to receive payments or benefits shall be nondeductible to the Company by reason of the operation of Section 280G of the Code, relating to parachute payments or any like statutory or regulatory provision. Accordingly, and notwithstanding any other provision of this Agreement or any such agreement or plan, if by reason of the operation of said Section 280G or any like statutory or regulatory provision, any such payments exceed the amount which can be deducted by the Company, such payments shall be reduced to the maximum amount which can be deducted by the Company. The Company shall make all reasonable efforts to avoid rendering such payments or benefits nondeductible, including, without limitation, securing approval of the payments or benefits from the appropriate stockholders of the Company as required by Section 280G of the Code; provided that the necessity of seeking the foregoing stockholder approval is subject to a determination by the Board of Directors of the Company, after consulting with its accountants and other advisors, that there will be no adverse affect on the Company. To the extent that payments exceeding such maximum deductible amount have been made to or for the benefit of Xx. Xxxxx, such excess payments shall be refunded to the Company with interest thereon at the applicable Federal rate determined under Section 1274(d) of the Code, compounded annually, or at such other rate as may be required in order that no such payments shall be nondeductible to the Company by reason of the operation of said Section 280G or any like statutory or regulatory provision. To the extent that there is more than one method of reducing the payments to bring them within the limitations of said Sections 280G or any like statutory or regulatory provision, Xx. Xxxxx shall determine which method shall be followed; provided that if Xx. Xxxxx fails to make such determination within forty-five (45) days after the Company has given notice of the need for such reduction, the Company may determine the method of such reduction in its sole discretion.

(e) Termination by Xx. Xxxxx for Good Reason.

During the Term, Xx. Xxxxx shall be entitled to terminate this Agreement upon the establishment of “Good Reason” by giving notice to that effect to the Company. For purposes hereof, “Good Reason” shall mean: (i) a reduction in Xx. Xxxxx’x base salary by more than twenty percent (20%) in and for any twelve month period; (ii) the breach by the Company of any material provision of this Agreement that continues without steps being taken to cure such breach for a period of ten (10) days after written notice thereof by Xx. Xxxxx to the Company; (iii) at any time within the Term, there occurs any of the following, which results in a material change in Xx. Xxxxx’x duties, position, or compensation, without the express prior written consent of Xx. Xxxxx: (1) the sale or transfer, whether in one transaction or in a series of transactions, of substantially all of the assets of the Company; (2) the merger or consolidation of the Company with or into any other person or entity under circumstances where the Company is not the surviving entity in such merger or where persons having control of the Company immediately prior to the admission of such member are not in control of the Company immediately after the admission of such member

If Xx. Xxxxx terminates this Agreement for Good Reason, the Company shall pay

Xx. Xxxxx in accordance with the terms and conditions set forth in Section 4(d).

(f) Voluntary Resignation. Xx. Xxxxx may voluntarily resign from his employment with the Company at any time prior to the expiration of the Term of this Agreement. In the event Xx. Xxxxx voluntarily resigns from his employment with the Company, Xx. Xxxxx shall provide the Company with thirty (30) days notice of his intent to resign, provided that following the termination of his employment, Xx. Xxxxx will provide reasonable assistance to the Company relating to the orderly transition of Xx. Xxxxx’x job duties to such successor as the Board of Directors may designate. The Company shall pay Xx. Xxxxx only the balance of his accrued, but unpaid salary, unreimbursed expenses, and his unused, accrued vacation time through his last day of work.

5. Non-Competition.

(a) For purposes of this Agreement, “Competitor” shall mean any person, company, or entity whose primary business at the time is, or whose then-current business plan contemplates engaging in activities which may be, competitive with products and services that were or were being designed, conceived, marketed, sold, distributed and/or developed by the Company during Xx. Xxxxx’x employment by the Company or at the time of termination of Xx. Xxxxx’x employment by the Company.

(b) Xx. Xxxxx agrees that so long as he is employed by the Company, and for a period of twelve (12) months thereafter, he will not, directly or indirectly, whether for compensation or not, own, manage, operate, join, control, work for or participate in, or be connected as a stockholder, officer, employee, partner, creditor, guarantor, advisor or otherwise, with a Competitor. The foregoing shall not be construed, however, as preventing Xx. Xxxxx from investing his assets in such form or manner as will not require services on the part of Xx. Xxxxx in the operations of the businesses in which such investments are made, provided that any such business is publicly owned, and the interest of Xx. Xxxxx xxxxxxx is solely that of an investor owning not more than five percent (5%) of the outstanding equity securities of any such business. Should Xx. Xxxxx breach the provisions of this Paragraph, the Company shall, in addition to any equitable or legal relief to which it is otherwise entitled, be entitled to cease all payments and benefits under the terms of this Agreement.

(c) For the period of twelve (12) months after the termination of this Agreement for any reason whatsoever, Xx. Xxxxx shall not hire, retain or engage as a director, officer, employee, agent or in any other capacity any person or persons who are employed by the Company or who were at any time (within a period of six (6) months immediately prior to the date of Xx. Xxxxx’x termination) employed by the Company or otherwise interfere with the relationship between such persons and the Company.

(d) If the period of time or area herein specified should be adjudged unreasonable in any court proceeding, then the period of time shall be reduced by such number of months or the area shall be reduced by elimination of such portion thereof as deemed unreasonable, so that this covenant may be enforced during such period of time and in such area as is adjudged to be reasonable.

6. Confidential Information.

(a) At all times during Xx. Xxxxx’x employment and thereafter, Xx. Xxxxx will hold in strictest confidence and will not disclose, use, lecture upon or publish any of the Company’s Proprietary Information (defined below), except as such use may be required in connection with Xx. Xxxxx’x work for the Company, or unless an officer of the Company expressly authorizes such disclosure in writing. Xx. Xxxxx will obtain Company’s written approval before publishing or submitting for publication any material (written, verbal, or otherwise) that relates to Xx. Xxxxx’x work for Company and/or incorporates any Proprietary Information. Xx. Xxxxx hereby assigns to the Company any rights Xx. Xxxxx may have or acquire in such Proprietary Information and recognizes that all Proprietary Information shall be the sole property of the Company and its assigns.

(b) The term “Proprietary Information” shall mean any and all confidential and/or proprietary knowledge, data or information of the Company, whether acquired by Xx. Xxxxx during the Term of this Agreement, during Xx. Xxxxx’x prior service as a consultant to the Company, or otherwise. By way of illustration but not limitation, “Proprietary Information” includes but is not limited to (i) trade secrets, inventions, mask works, ideas, methods, processes, formulas, chemical structures and methods for chemical synthesis, structure-activity relationships, assay methodologies, characteristics, equipment and equipment designs, results, formulations and biological, pharmacological, toxicological and clinical data, physical, chemical or biological materials, source and object codes, data, programs, other works of authorship, know-how, improvements, discoveries, developments, compilations, shop practices, supplier lists, designs and techniques (hereinafter collectively referred to as “Inventions”); and (ii) information regarding plans for research, development, new products, marketing and selling, business plans, budgets and unpublished financial statements, licenses, prices and costs, suppliers and customers; and (iii) information regarding the skills and compensation of other employees of the Company. Notwithstanding the foregoing, it is understood that, at all times, Xx. Xxxxx is free to use information which is generally known in the trade or industry, which is not gained as a result of a breach of this Agreement, and which is acquired as a result of Xx. Xxxxx’x own skill, knowledge, know-how and experience.

(c) Xx. Xxxxx understands, in addition, that the Company has received and in the future will receive from third parties confidential or proprietary information (“Third Party Information”) subject to a duty on the Company’s part to maintain the confidentiality of such information and to use it only for certain limited purposes. During the term of Xx. Xxxxx’x employment and thereafter, Xx. Xxxxx will hold Third Party Information in the strictest confidence and will not disclose to anyone (other than Company personnel who need to know such information in connection with their work for the Company) or use, except in connection with Xx. Xxxxx’x work for the Company, Third Party Information unless expressly authorized by an officer of the Company in writing.

(d) During Xx. Xxxxx’x employment by the Company, Xx. Xxxxx will not improperly use or disclose any confidential information or trade secrets, if any, of any of his former employers or any other person to whom Xx. Xxxxx has an obligation of confidentiality, and Xx. Xxxxx will not bring onto the premises of the Company any unpublished documents or any property belonging to any former employer or any other person to whom Xx. Xxxxx has an

obligation of confidentiality, unless such action is consented to in writing by all persons to whom the relevant obligation of confidentiality is owed. Xx. Xxxxx shall not work on Company projects on the grounds of, or using the equipment of, any third party, unless such work is agreed to by the Company in writing.

(e) Upon termination of his employment, Xx. Xxxxx shall return to the Company all Proprietary Information in any tangible form in his possession, including copies thereof.

7. Company Right to Inventions.

(a) Inventions, if any, patented or unpatented, which Xx. Xxxxx made prior to the commencement of Xx. Xxxxx’x employment with the Company are excluded from the scope of this Agreement. To preclude any possible uncertainty, Xx. Xxxxx has provided on Appendix A (Previous Inventions) attached hereto a complete list of all Inventions that Xx. Xxxxx has, alone or jointly with others, conceived, developed or reduced to practice or caused to be conceived, developed or reduced to practice prior to the commencement of Xx. Xxxxx’x employment with the Company, that Xx. Xxxxx considers to be Xx. Xxxxx’x property or the property of third parties, and that Xx. Xxxxx wishes to have excluded from the scope of this Agreement (collectively referred to as “Prior Inventions”). If disclosure of any such Prior Invention would cause Xx. Xxxxx to violate any prior confidentiality agreement, Xx. Xxxxx understands that Xx. Xxxxx shall not list such Prior Inventions in Appendix A but shall only disclose a cursory name for each such invention (bearing in mind that where necessary, the naming shall not be so specific as to violate the confidentiality obligation), a listing of the party(ies) to whom the invention belongs, and the fact that full disclosure as to such invention has not been made for that reason. Space is provided on Appendix A for this purpose. If, in the course of Xx. Xxxxx’x employment with the Company, Xx. Xxxxx incorporates a Prior Invention into a Company product, process or machine, the Company is hereby granted and shall have, to the extent of Xx. Xxxxx’x right to make such grant, a nonexclusive, royalty-free, irrevocable, perpetual, worldwide license (with rights to sublicense through multiple tiers of sublicensees) to make, have made, modify, use, import, sell and offer to sell such Prior Invention. Notwithstanding the foregoing, Xx. Xxxxx agrees that he will not incorporate, or permit to be incorporated, Prior Inventions in any Company Inventions without the Company’s prior written consent.

(b) Subject to Section 7(d), Xx. Xxxxx hereby assigns and agrees to assign in the future (when any such Inventions are first reduced to practice or a description thereof first fixed in a tangible medium, as applicable) to the Company all of Xx. Xxxxx’x right, title and interest in and to any and all Inventions, whether or not patentable or registerable under patent, intellectual property, copyright or similar statutes, made or conceived or reduced to practice or learned by Xx. Xxxxx, either alone or jointly with others, during the period of Xx. Xxxxx’x employment with the Company. Inventions assigned to the Company, or to a third party as directed by the Company pursuant to this Section 7(b), are hereinafter referred to as “Company Inventions.”

(c) During the period of Xx. Xxxxx’x employment, Xx. Xxxxx will promptly disclose to the Company fully and in writing all Inventions authored, conceived or reduced to

practice by Xx. Xxxxx, either alone or jointly with others. In addition, Xx. Xxxxx will promptly disclose to the Company all patent applications filed by Xx. Xxxxx or on Xx. Xxxxx’x behalf within one (1) year after termination of employment. At the time of each such disclosure, Xx. Xxxxx will advise the Company in writing of any Inventions that Xx. Xxxxx believes qualify for exclusion from Xx. Xxxxx’x obligation to assign hereunder; and Xx. Xxxxx will at that time provide to the Company in writing all evidence necessary to substantiate that belief.

(d) As directed by the Company, Xx. Xxxxx agrees to assign all Xx. Xxxxx’x right, title and interest in and to any particular Company Invention to a third party, including without limitation the United States.

(e) Xx. Xxxxx acknowledges that all original works of authorship which are made by Xx. Xxxxx (solely or jointly with others) within the scope of Xx. Xxxxx’x employment and which are protectable by copyright are “works made for hire,” pursuant to United States Copyright Act (17 U.S.C. § 101).

(f) Xx. Xxxxx will assist the Company in every proper way to obtain, and from time to time enforce, United States and foreign trade secret, patent, copyright, mask work and other intellectual property rights (“Proprietary Rights”) relating to Company Inventions in any and all countries. To that end, Xx. Xxxxx will execute, verify and deliver such documents and perform such other acts (including appearances as a witness) as the Company may reasonably request for use in applying for, obtaining, perfecting, evidencing, sustaining and enforcing such Proprietary Rights and the assignment thereof. In addition, Xx. Xxxxx will execute, verify and deliver assignments of such Proprietary Rights to the Company, its successor in interest, or its designee. Xx. Xxxxx’x obligation to assist the Company with respect to Proprietary Rights relating to such Company Inventions in any and all countries shall continue beyond the termination of Xx. Xxxxx’x employment.

In the event the Company is unable for any reason, after reasonable effort, to secure Xx. Xxxxx’x signature on any document needed in connection with the actions specified in this Section 7(f), Xx. Xxxxx xxxxxx irrevocably designates and appoints the Company and its duly authorized officers and agents as Xx. Xxxxx’x agent and attorney-in-fact, which appointment is coupled with an interest, to act for and on Xx. Xxxxx’x behalf to execute, verify and file any such documents and to do all other lawfully permitted acts to further the purposes of the preceding paragraph with the same legal force and effect as if executed by Xx. Xxxxx.

(g) Xx. Xxxxx agrees to keep and maintain adequate and current records (in the form of notes, sketches, drawings and in any other form that may be required by the Company) of all Proprietary Information developed by Xx. Xxxxx and all Inventions made by Xx. Xxxxx during the period of Xx. Xxxxx’x employment at the Company, which records shall be available to and remain the sole property of the Company at all times.

(h) Xx. Xxxxx represents that Xx. Xxxxx’x performance of all the terms of this Agreement and as an employee of the Company does not and will not breach any agreement to keep in confidence information acquired by Xx. Xxxxx in confidence or in trust prior to Xx. Xxxxx’x employment by the Company. Xx. Xxxxx has not entered into, and Xx. Xxxxx agrees that he will not enter into, any agreement either written or oral in conflict herewith.

8. Remedies. Because Xx. Xxxxx’x services are personal and unique and because Xx. Xxxxx may have access to and become acquainted with the Proprietary Information of the Company, the Company shall have the right to enforce this Agreement and any of its provisions by injunction or other equitable relief, without bond (if allowed by applicable law), and without prejudice to any other rights and remedies that the Company may have for a breach of this Agreement. In the event that Xx. Xxxxx performs services for other entities during the Term of this Agreement or leaves the employ of the Company, Xx. Xxxxx hereby consents to the notification of Xx. Xxxxx’x new employer of Xx. Xxxxx’x rights and obligations under this Agreement.

9. Arbitration. Any and all disputes between the parties (except actions to enforce the provisions of Sections 5, 6 or 7 of this Agreement), arising under or relating to this Agreement or any other dispute arising between the parties, including claims arising under any employment discrimination laws, shall be adjudicated and resolved exclusively through binding arbitration before the American Arbitration Association pursuant to the American Arbitration Association’s then-in-effect National Rules for the Resolution of Employment Disputes (hereafter “Rules”). The initiation and conduct of any arbitration hereunder shall be in accordance with the Rules and each side shall bear its own costs and counsel fees in such arbitration. Any arbitration hereunder shall be conducted in Philadelphia, Pennsylvania, and any arbitration award shall be final and binding on the Parties. The arbitrator shall have no authority to depart from, modify, or add to the written terms of this Agreement. The arbitration provisions of this Section 9 shall be interpreted according to, and governed by, the Federal Arbitration Act, 9 U.S.C. § 1 et seq., and any action pursuant to such Act to enforce any rights hereunder shall be brought exclusively in the United States District Court for the Eastern District of Pennsylvania. The parties consent to the jurisdiction of (and the laying of venue in) such court.

10. Severability. The terms of this Agreement and each Paragraph thereof shall be considered severable and the invalidity or unenforceability of any part thereof shall not affect the validity or enforceability of the remaining portions or provisions hereof.

11. Notices. Any notice required or permitted to be given under this Agreement shall be sufficient, if in writing and delivered by registered or certified mail or overnight delivery service to his residence in the case of Xx. Xxxxx, or to its principal office in the case of the Company.

12. Assignment. The rights and obligations of the Company under this Agreement shall inure to the benefit of and be binding upon its successors and assigns. Neither this Agreement nor any rights or interests herein or created hereby may be assigned or otherwise transferred voluntarily or involuntarily by Xx. Xxxxx.

13. Waiver. The waiver by the Company or Xx. Xxxxx of a breach of any provision of this Agreement by the other shall not operate or be construed as a waiver of any subsequent breach.

14. Applicable Law. This Agreement shall be interpreted and construed under the laws of the Commonwealth of Pennsylvania.

15. Indemnification. The Company agrees to indemnify Xx. Xxxxx in connection with any action Xx. Xxxxx is required to defend in his official capacity as President and Chief Executive Officer of the Company to the fullest extent permitted by law.

16. Entire Agreement. This instrument contains the entire agreement of the parties with respect to the subject matter hereof and supersedes all prior or contemporaneous agreements with respect to such subject matter. It may not be changed or altered, except by an agreement in writing signed by the party against whom enforcement of any waiver, change, modification, extension or discharge is sought.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written.

	ONCONOVA THERAPEUTICS. INC.


	By:	/s/ Xxxxxx Xxxxx


	Xxxxxx Xxxxx, Ph.D.


	By:	/s/ Xxxxxxx X. Xxxxxxx


	Xxxxxxx Xxxxxxx, Chairman

APPENDIX A

TO:		Board of Directors

FROM:		Xxxxxx Xxxxx, Ph.D.

DATE:

SUBJECT:		PREVIOUS INVENTIONS

1. Except as listed in Section 2 below, the following is a complete list of all inventions or improvements relevant to the subject matter of my employment by Onconova therapeutics, inc. (the “company”) that have been made or conceived or first reduced to practice by me alone or jointly with other prior to my engagement by the Company:

x		no inventions or improvements.

o		See below.



o		Additional sheets attached.

2. Due to a prior confidentiality agreement I cannot complete the disclosure under Section 1 I above with respect to inventions or improvements generally listed below, the proprietary rights and duty of confidentiality with respect to which I owe to the following party(ies):

	INVENTION OR IMPROVEMENT	PARTY(IES)	RELATIONSHIP
1.
2.
3.
4.
5.
6.
7.

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EMPLOYMENT AGREEMENT RENEWAL

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