AMENDED AND RESTATED EXECUTIVE EMPLOYMENT AGREEMENT FOR JAMES P. PANEKExecutive Employment Agreement • April 23rd, 2010 • Vaxgen Inc • Pharmaceutical preparations • California
This Amended and Restated Executive Employment Agreement (the “Agreement”) is entered into by and between James P. Panek (hereinafter “Executive”) and VaxGen, Inc. (hereinafter “VaxGen” or the “Company”), effective as of April 20, 2010 (the “Effective Date”). This Agreement supersedes in its entirety all prior employment agreements between Executive and VaxGen, whether signed or unsigned, including the Amended And Restated Executive Employment Agreement Dated February 1, 2009 (the “Prior Agreement”). In consideration of the mutual promises made herein, VaxGen and Executive agree as follows:
