Agreement to Terminate Incentive Bonus Amendment between Epimmune Inc. and Dr. Emile Loria

Summary

Dr. Emile Loria and Epimmune Inc. agree that, in exchange for an option to purchase 500,000 shares of the company's common stock, Dr. Loria will terminate his right to an incentive bonus as described in a previous amendment to his employment letter. This agreement does not change the original employment terms set out in their January 16, 2001 letter agreement. The agreement is acknowledged by both Dr. Loria and the company's Chairman.

EX-10.51 3 a94291exv10w51.txt EXHIBIT 10.51 Exhibit 10.51 September 8, 2003 Epimmune Inc. 5820 Nancy Ridge Drive San Diego, California 92121 To the Board of Directors of Epimmune Inc.: In consideration of the option grant to purchase 500,000 shares of Common Stock of Epimmune Inc. (the "COMPANY") being granted to me by the Compensation Committee of the Board of Directors of the Company on the date hereof, I hereby agree to terminate the amendment to my letter agreement dated June 20, 2003, pursuant to which I would otherwise be entitled to an incentive bonus upon the terms described in such amendment. This letter shall not modify in any way the terms of the Letter Agreement between the Company and me dated January 16, 2001 regarding my employment terms with the Company. /s/ Emile Loria - -------------------------------------- Dr. Emile Loria ACKNOWLEDGED AND AGREED: EPIMMUNE INC. /s/ Howard E. Greene, Jr. - -------------------------------------- Howard E. Greene, Jr. Chairman of the Board of Directors 1