Mutual Termination of Employment Agreement between Tonix Pharmaceuticals Holding Corp. and Bruce Daugherty
Tonix Pharmaceuticals Holding Corp. and Bruce Daugherty have mutually agreed to terminate their employment agreement dated April 1, 2012, as amended. This termination is in connection with a new employment agreement between the parties. Bruce Daugherty waives any rights to severance payments under the original agreement. Both parties have signed and accepted the terms as of March 14, 2014.
Exhibit 10.02
TONIX PHARMACEUTICALS HOLDING CORP.
509 Madison Avenue, Suite 306
New York, New York 10022
March 14, 2014
VIA EMAIL
Bruce Daugherty
509 Madison Avenue, Suite 306
New York, New York 10022
| Re: | Termination Employment Agreement |
Dear Mr. Daugherty:
This letter shall serve as a mutual agreement to terminate the employment agreement dated April 1, 2012 by and between Tonix Pharmaceuticals Holding Corp. and Bruce Daugherty, as amended on October 15, 2013 (the “Agreement”). As the Agreement is being terminated in connection with a new employment agreement being entered into between the parties, Bruce Daugherty waives any rights to, and agrees that no severance payments shall be due to him, pursuant to Section 6 of the Agreement, in connection with this mutual termination of the Agreement.
| TONIX PHARMACEUTICALS HOLDING CORP. | |
| /s/ SETH LEDERMAN | |
| By: Seth Lederman | |
| Title: Chief Executive Officer |
Accepted to and agreed this
14th day of March, 2014:
/s/ BRUCE DAUGHERTY
Bruce Daugherty
