Voluntary Base Salary Reduction Agreement between Applied DNA Sciences, Inc. and Judy Murrah (January 2024)
Applied DNA Sciences, Inc. and its Chief Operating Officer, Judy Murrah, have agreed that, due to the company's cash flow difficulties, Ms. Murrah's base salary will be voluntarily reduced by $81,250 (25%) from January 1, 2024, through March 31, 2024. During this period, her base salary will be $243,750. The company is not obligated to reimburse her for the reduced amount. Ms. Murrah remains an at-will employee under this agreement.
Exhibit 10.2
 |  |
January 3, 2024
ViA EMAIL
***@***
Ms. Judy Murrah
Chief Operating Officer
Applied DNA Sciences, Inc.
50 Health Sciences Drive
Stony Brook, NY 11790
| Re: | Voluntary Base Salary Reduction |
Dear Judy:
As you are aware, Applied DNA Sciences, Inc. (the “Company”) is experiencing certain cash flow difficulties. Accordingly, in order to assist the Company with this current situation, effective January 1, 2024, you hereby voluntarily agree that your current base salary rate will be reduced by $81,250, or 25% until March 31, 2024, and you further agree that the Company has no obligation to, and will not, make you whole for such voluntary reduction. Your base salary during this period will be $243,750. You remain an at-will employee.
| Sincerely, | |||
| Applied DNA Sciences, Inc. | |||
| By: | /s/ Beth Jantzen | ||
| Name: | Beth Jantzen | ||
| Title: | CFO | ||
| ACCEPTED AND AGREED TO: | |
| /s/ Judy Murrah 1/4/2024 | |
| Judy Murrah |
50 Health Sciences Drive • Stony Brook, NY 11790 • tel ###-###-#### • fax ###-###-####
