Amendment to Letter Agreement, dated June 4, 2020, by and between the Company and Patrick Hutchison

The Company shall pay you a base salary at the annualized rate of three hundred thousand dollars ($300,000) based on full-time employment status. Your position is classified as exempt from overtime. Your salary will be paid in regular periodic payments, less applicable deductions and withholdings, in accordance with the Company’s regular payroll practices. Your base salary is subject to change at the Company’s sole discretion.

In addition to your Base Salary, you may be eligible to receive a discretionary performance bonus, payable in accordance with BioSpecifics’ policy with respect to the payment of bonuses (as may be amended from time to time). The target for your Performance Bonus is twenty percent (30%) of your Base Salary. The actual Performance Bonus amount, if any, is within the Company’s sole discretion, which will be informed by an assessment of your performance, including your performance against agreed objectives, as well as business conditions at the Company.

If the Company terminates your employment without Cause (as defined below), the Company shall pay you any earned but unpaid Base Salary through the date of termination, at the rates then in effect, less standard deductions and withholdings. In addition, if you: (i) furnish to the Company an executed waiver and general release of claims in a form to be provided to you by the Company (a “Release”), (ii) allow the Release to become effective in accordance with its terms, and (iii) otherwise comply with the Release, then you will be eligible to receive an aggregate amount equal to six (6) months of your then-current Base Salary, less standard deductions and withholdings, payable in equal installments over the six (6) month period following the date of the termination of your employment.