AMENDED AND RESTATED EMPLOYMENT AGREEMENT
This AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this “Agreement”), dated as of March 11, 2021 (the “Effective Date”), by and between CYTODYN INC., a Delaware corporation (the “Company”) and CHRISTOPHER RECKNOR, M.D., (the “Executive”).
W I T N E S S E T H:
WHEREAS, Executive and the Company previously entered into an Employment Agreement, dated August 27, 2020 (the “Original Agreement”), wherein Executive was then VP, Clinical Development; and
WHEREAS, the Company desires to employ the Executive as its Chief Operating Officer of the Company and the Executive desires to accept such employment, on the terms and conditions set forth in this Agreement; and
WHEREAS, Executive and the Company desire to amend and restate the Original Agreement to reflect the terms and conditions set forth in this Agreement.
NOW, THEREFORE, in consideration of the promises and the mutual covenants and agreements contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:
EMPLOYMENT; TERMINATION OF PRIOR AGREEMENT; TERM OF AGREEMENT
Section 1.1Employment and Acceptance. During the Term (as defined in Section 1.2), the Company shall employ the Executive, and the Executive shall accept such employment and serve the Company, in each case, subject to the terms and conditions of this Agreement.
Section 1.2Term. The employment relationship hereunder shall be for the period (such period of the employment relationship shall be referred to herein as the “Term”) commencing on the Effective Date and ending upon the termination of the Executive’s employment hereunder by either party hereto pursuant to the terms of Section 4.1, Section 4.2,