Amendment to Employment Agreement with Natasha Giordano, dated March 7, 2019

Exhibit 10.18

AMENDMENT TO EMPLOYMENT AGREEMENT

This AMENDMENT TO EMPLOYMENT AGREEMENT (the “Amendment”) is made and entered into as of March 7, 2019 (the “Effective Date”), by and between Natasha Giordano (the “Executive”) and PLx Pharma Inc., a Delaware corporation (the “Company”), for the purpose of amending that one certain Employment Agreement, dated October 1, 2015 (the “Agreement”), by and between the parties.

NOW, THEREFORE, in consideration of the mutual covenants, promises and obligations set forth herein and the Agreement, the parties agree as follows:

Section 3.1 of the Agreement is hereby amended in its entirety, effective as of the Effective Date, to read as follows:

3.1 Base Salary. Effective on February 1, 2019, the Company shall pay the Executive an annual rate of base salary of Four Hundred Seventy-Five Thousand Dollars ($475,000). Such base salary shall be paid consistently with the Company’s then current pay practices. The Executive’s base salary shall be reviewed at least annually by the Compensation Committee and the Compensation Committee may, but shall not be required to, other than as provided above, increase (but not decrease) the base salary during the Employment Term. The Executive’s annual base salary, as in effect from time to time, is hereinafter referred to as “Base Salary.”

Section 3.2 of the Agreement is hereby amended in its entirety, effective as of the Effective Date, to read as follows:

3.2      Annual Bonus. The Executive shall be eligible to receive an annual bonus pursuant to a bonus plan approved by the Board based on satisfaction of performance criteria to be established by the Compensation Committee, with a target of fifty percent (50%) of Base Salary (“Target Bonus”). Payment of the annual bonus, if any, shall be made in the same manner and at the same time that other senior-level executives receive their annual incentive compensation awards, the actual amount of which and date upon which it is payable by the Company to be determined by the Board in its discretion; provided that, if granted, any annual bonus shall not exceed 150% of the Target Bonus. Any such bonuses shall be subject to all applicable withholding requirements.

Section 4.1(c) of the Agreement is hereby amended in its entirety, effective as of the Effective Date, to read as follows:

4.1(c)          For purposes of this Agreement, “Good Reason” shall mean the occurrence of any of the following, in each case during the Employment Term without the Executive’s written consent:

The Executive cannot terminate her employment for Good Reason unless she has provided written notice to the Company of the existence of the circumstances providing grounds for termination for Good Reason within ninety (90) days of the initial existence of such grounds and the Company has had at least thirty (30) days from the date on which such notice is provided to cure such circumstances (to the extent curable). If the Executive does not terminate her employment for Good Reason within one hundred twenty (120) days after the first occurrence of the applicable grounds, then the Executive will be deemed to have waived her right to terminate for Good Reason with respect to such grounds.

Except as expressly amended by this Amendment, the parties do hereby ratify and confirm the Agreement in its entirety.

Terms not defined in this Amendment shall have the meanings set forth in the Agreement.

IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first above written.

EXECUTIVE

Signature: /s/ Natasha Giordano          

Print Name: Natasha Giordano