EXTENSION OF EMPLOYMENT AGREEMENT
Exhibit 10.1
EXTENSION
OF EMPLOYMENT AGREEMENT (this “Extension”), dated as
of December 28, 2010, by and between ZIOPHARM Oncology, Inc., a Delaware
corporation with principal executive offices at 0000 Xxxxxx xx xxx Xxxxxxxx, Xxx
Xxxx, XX 00000 (the “Company”), and
XXXXXXXX X. XXXXX, M.D., Ph.D., residing at 0000 Xxxxxxxxx Xxxxx
Xxxx, Xxxxxxxxx, XX 00000 (the “Executive”). All
capitalized terms set forth herein shall (unless otherwise defined herein) have
the meanings given to them in the Agreement (as defined below).
W I T N E
S S E T H:
WHEREAS,
the Company and Executive are parties to that certain Employment Agreement dated
January 8, 2008 (the “Agreement”).
WHEREAS,
the Term of the Agreement is scheduled to expire on January 8, 2011 and the
Company and Executive each desire that Executive’s employment with the Company
continue to be governed by terms and conditions of the Agreement for a period of
an additional two years, which period may be further extended by mutual written
agreement of Executive and the Company following further deliberations among
Executive and the Company’s board of directors (or, if applicable, the
compensation committee thereof).
NOW,
THEREFORE, in consideration of the mutual covenants and agreements herein
contained, the parties hereto hereby agree as follows:
1. Extension of
Term. The “Term” of Executive’s employment under the Agreement
shall be extended for a period of two (2) years expiring on January 8, 2013,
which period may be further extended by mutual written agreement of Executive
and the Company following further deliberations among Executive and the
Company’s board of directors (or, if applicable, the compensation committee
thereof).
2. No Other
Modification. The Agreement shall not be modified by this
Extension in any respect except as expressly set forth herein.
3. Counterparts. This
is Extension may be executed in any number of counterparts, each of which shall
constitute an original, but all of which together shall constitute one and the
same instrument.
4. Governing
Law. This Extension shall be governed by, and construed and
interpreted in accordance with, the laws of the State of New York, without
giving effect to its principles of conflicts of laws.
The
remainder of this page is intentionally left blank.
IN
WITNESS WHEREOF, the parties hereto have executed this Extension as of the date
first above written.
ZIOPHARM
Oncology, Inc.
|
||
By:
|
/s/ Xxxxxxx X. Xxxxxx
|
|
Name:
Xxxxxxx X. Xxxxxx
|
||
Title:
President, Chief Operating Officer and Chief Financial
Officer
|
||
EXECUTIVE
|
||
By:
|
/s/ Xxxxxxxx Xxxxx
|
|
Name:
Xxxxxxxx X. Xxxxx, M.D., Ph.D.
|