TONIX PHARMACEUTICALS HOLDING CORP. 509 Madison Avenue, Suite 306 New York, New York 10022 October 15, 2013
Exhibit 10.03
TONIX PHARMACEUTICALS HOLDING CORP.
509 Madison Avenue, Suite 306
New York, New York 10022
October 15, 2013
VIA EMAIL
Bruce Daugherty
509 Madison Avenue, Suite 306
New York, New York 10022
| Re: | Amendment to Employment Agreement |
Dear Mr. Daugherty:
This letter shall serve as an amendment to the employment agreement dated April 1, 2012 by and between Tonix Pharmaceuticals Holding Corp. and Bruce Daugherty (the “Agreement”). Capitalized terms used but not defined herein shall have the meaning ascribed to them in the Agreement. Section 4(a) of the Agreement is hereby amended and replaced in its entirety with the following:
“From October 15, 2013 to the date on which the Company consummates the sale of at least Twenty Million Dollars ($20,000,000) in additional equity securities (the “Financing”) the Executive’s base salary shall be one hundred ninety thousand dollars ($190,000) per annum.”
The foregoing amendment shall be effective as of October 15, 2013.
TONIX PHARMACEUTICALS HOLDING CORP.
/s/ SETH LEDERMAN
By: Seth Lederman
Title: Chief Executive Officer
Accepted to and agreed this
15th day of October, 2013:
/s/ BRUCE DAUGHERTY
Bruce Daugherty
