<SEC-DOCUMENT>0001144204-12-006057.txt : 20120206
<SEC-HEADER>0001144204-12-006057.hdr.sgml : 20120206
<ACCEPTANCE-DATETIME>20120206162103
ACCESSION NUMBER:		0001144204-12-006057
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20120203
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20120206
DATE AS OF CHANGE:		20120206

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ADEONA PHARMACEUTICALS, INC.
		CENTRAL INDEX KEY:			0000894158
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				133808303
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12584
		FILM NUMBER:		12573854

	BUSINESS ADDRESS:	
		STREET 1:		3930 VARSITY DRIVE
		CITY:			ANN ARBOR
		STATE:			MI
		ZIP:			48108
		BUSINESS PHONE:		734-332-7800

	MAIL ADDRESS:	
		STREET 1:		3930 VARSITY DRIVE
		CITY:			ANN ARBOR
		STATE:			MI
		ZIP:			48108

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PIPEX PHARMACEUTICALS, INC.
		DATE OF NAME CHANGE:	20061214

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SHEFFIELD PHARMACEUTICALS INC
		DATE OF NAME CHANGE:	19970730

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SHEFFIELD MEDICAL TECHNOLOGIES INC
		DATE OF NAME CHANGE:	19940606
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v301320_8-k.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Date of Report (date of earliest event reported):
<B>February 3, 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Adeona Pharmaceuticals, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of registrant as specified in charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Nevada</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(State or other jurisdiction of incorporation)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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    <TD STYLE="width: 50%; padding-right: 1.6pt; line-height: 115%; font-size: 10pt; font-weight: bold; text-align: center">01-12584</TD>
    <TD STYLE="width: 50%; padding-right: 1.6pt; line-height: 115%; font-size: 10pt; font-weight: bold; text-align: center">13-3808303</TD></TR>
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    <TD STYLE="padding-right: 1.6pt; line-height: 115%; font-size: 10pt; text-align: center">(Commission File Number)</TD>
    <TD STYLE="padding-right: 1.6pt; line-height: 115%; font-size: 10pt; text-align: center">(IRS Employer Identification No.)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>3985 Research Park Drive, Suite 200</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Ann Arbor, MI 48108</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Address of principal executive offices and
zip code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(734) 332-7800</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Registrant&rsquo;s telephone number including
area code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>N/A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Former Name and Former Address)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%">&#61608;</TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; line-height: 115%">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR>
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    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%">&#61608;</TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; line-height: 115%">Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 6%; padding-right: 1.6pt; line-height: 115%">&#61608;</TD>
    <TD STYLE="width: 88%; padding-right: 1.6pt; line-height: 115%">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
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    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 1.6pt; line-height: 115%">&#61608;</TD>
    <TD STYLE="width: 88%; padding-right: 1.6pt; line-height: 115%">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Item 1.01 Entry into a Material Definitive
Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Effective February
3, 2012, Jeff Riley, age 49, was appointed Chief Executive Officer and President of Adeona Pharmaceuticals, Inc. (&ldquo;Adeona&rdquo;
or &ldquo;the Company&rdquo;). In connection with his appointment, Mr. Riley entered into a three-year employment agreement with
Adeona (the &ldquo;Riley Employment Agreement&rdquo;).&nbsp;&nbsp;Pursuant to the Riley Employment Agreement, Mr. Riley will be
entitled to an annual base salary of $348,000 and will be eligible for discretionary performance and transactional bonus payments.&nbsp;&nbsp;Additionally,
Mr. Riley was granted options to purchase 750,000 shares of the Company&rsquo;s common stock with an exercise price equal to the
Company&rsquo;s per share market price on the date of issue. These options will vest pro rata, on a monthly basis, over thirty-six
months.&nbsp;&nbsp;The Riley Employment Agreement also includes confidentiality obligations and inventions assignments by Mr. Riley.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">If Mr. Riley&rsquo;s
employment is terminated for any reason, he or his estate as the case may be, will be entitled to receive the accrued base salary,
vacation pay, expense reimbursement and any other entitlements accrued by him to the extent not previously paid (the &ldquo;Accrued
Obligations&rdquo;); <U>provided</U>, <U>however</U>, that if his employment is terminated (1) by the Company without Just Cause
(as defined in the Riley Employment Agreement) or by Mr. Riley for Good Reason (as defined in the Riley Employment Agreement) then
in addition to paying the Accrued Obligations, (x) the Company shall continue to pay his then current base salary and continue
to provide benefits at least equal to those which were provided at the time of termination for a period of six months and (y) he
shall have the right to exercise any vested options until the earlier of the expiration of the severance or the expiration of the
term of the option, or (2) by reason of his death or Disability (as defined in the Riley Employment Agreement), then in addition
to paying the Accrued Obligations, he would have the right to exercise any vested options until the expiration of the term of the
option. In such event, if Mr. Riley commenced employment with another employer and becomes eligible to receive medical or other
welfare benefits under another employer-provider plan, the medical and other welfare benefits to be provided by the Company as
described herein will terminate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Effective February
3, 2012, James S. Kuo, M.D., M.B.A. resigned from his positions as President and Chief Executive Officer of the Company. In connection
with his resignation, Dr. Kuo entered into a nine-month consulting agreement with Adeona (the &ldquo;Consulting Agreement&rdquo;).
Pursuant to the Consulting Agreement, Dr. Kuo will be entitled to a consulting fee of $16,666 per month during the term of the
Consulting Agreement, receive health and dental benefits for one year and retain the right to exercise the stock options of the
Company held by him that have vested as of the effective date of the Consulting Agreement for a period expiring on the date that
is one (1) year from the effective date of the Consulting Agreement. The Consulting Agreement also includes confidentiality obligations
and inventions assignments by Dr. Kuo.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The information
contained in this Item 1.01 regarding the Riley Employment Agreement and the Consulting Agreement is qualified in its entirety
by the copy of each agreement attached to this Current Report on Form 8-K as Exhibits 10.1 and 10.2, respectively, and incorporated
herein by this reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Item 5.02 Departure of Directors
or Certain Officers; Election of Directors;</B> <B>Appointment of Certain Officers; Compensatory Arrangements of Certain</B> <B>Officers</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Effective February
3, 2012, Jeff Riley was appointed Chief Executive Officer and President of the Company, and resigned as a member of the nominating
and audit committees of the Board of Directors of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-right: 0; margin-left: 0">Mr. Riley has been a director
of the Company since March 16, 2010, and has served as Chairman since November 2011.<FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT>He has more than 20 years of experience in the biotechnology and pharmaceutical industries during which he negotiated numerous
worldwide strategic corporate alliances, established joint ventures, and assisted in obtaining venture financings to support product
development. Most recently, in addition to serving as Adeona&rsquo;s Chairman, where Mr. Riley played an integral role in the formation
of the Company&sup1;s recent collaboration with Intrexon Corporation, he served as Managing Director of 526 Ventures, a life science-focused
venture capital and advisory firm. Prior to this, he was a venture partner with QIC Bioventures Fund, the life science-focused
venture component of the $70 billion Australian-based Queensland Investment Corporation (QIC). Over his career, Mr. Riley held
senior positions within the mergers &amp; acquisitions and in country management groups at both SmithKline Beecham and Pfizer.
Additionally, he served as CFO and VP Corporate Development for Nichols Institute Diagnostics, a division of Quest Diagnostics,
Inc. (NYSE: DGX). Mr. Riley holds a Bachelor of Science degree in International Relations/Biology and participated in a dual-degree
graduate program (MBA/MIM) sponsored by Arizona State University and the Thunderbird School of Global Management.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In connection with
his appointment, Mr. Riley entered into a three-year employment agreement with Adeona.&nbsp;&nbsp;See Item 1.01 for a description
of the terms of the Riley Employment Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">There are no family
relationships between Mr.Riley and any director, executive officer or person nominated or chosen by the Company to become as director
or executive officer.&nbsp;&nbsp;Additionally, there have been no transactions involving Mr. Riley that would require disclosure
under Item 404(a) of Regulation S-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">On
February 3, 2012, Nelson K. Stacks and Scott L. Tarriff were appointed to the Board of Directors of the Company. As of the date
of this Report, Mr. Jeffrey J. Kraws, a current independent director of the Company, has been named to serve on the nominations
committee of the Board to replace Mr. Riley, and Mr. Stacks has been named to serve on the audit committee of the Board to replace
Mr. Riley. Mr. Stacks qualifies as an &ldquo;audit committee financial expert&rdquo; as that term is used in Section 407 of the
Sarbanes-Oxley Act of 2002. Messrs. Tarriff and Stacks are each independent in compliance with the applicable listing standards
of the NYSE Amex stock exchange. For their services as directors of the Company, Messrs. Stacks and Tarriff will receive the Company&rsquo;s
standard compensation applicable to nonemployee directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">There
are no family relationships between either of Mr. Stacks or Mr. Tarriff and any director, executive officer or person nominated
or chosen by the Company to become as director or executive officer.&nbsp;&nbsp;Additionally, there have been no transactions involving
either Mr. Stacks or Mr. Tarriff that would require disclosure under Item 404(a) of Regulation S-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Effective
February 3, 2012, James S. Kuo, M.D., M.B.A. resigned from his positions as President and Chief Executive Officer. Dr. Kuo remains
as a member of the Board of Directors of the Company. See Item 1.01 for a description of the terms of his Consulting Agreement
with the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Item 8.01 Other Events</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 45pt">On February 6, 2012 the Company issued
a press release announcing the appointment of Mr. Riley as an executive officer, and of Mr. Stacks and Mr. Tarriff as directors
of the Company and the resignation of Dr. Kuo as an executive officer of the Company. A copy of the press release is attached as
Exhibit 99.1 to this Current Report on Form 8-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Item 9.01 Financial Statements and
Exhibits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibits</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The following exhibits
are being filed as part of this Report.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 18%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.8pt 0 0; text-align: center"><B>Exhibit</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.8pt 0 0; text-align: center"><B>Number</B></P></TD>
    <TD STYLE="width: 82%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.8pt 0 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.8pt 0 0"><B>Description</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; text-align: center">10.1</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; text-align: justify">Employment Agreement, dated February 3, 2012, by and between Jeff Riley and the Company.*</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; text-align: center">10.2</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; text-align: justify">Consulting Agreement dated February 3, 2012 by and between Dr. James S. Kuo and the Company.*</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; text-align: center">99.1</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; text-align: justify">Press Release dated February 6, 2012.*</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt; line-height: 115%; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">*Filed herewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 1.6pt; line-height: 115%">Dated:&nbsp;&nbsp;February 6, 2012</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.05in; line-height: 115%">ADEONA PHARMACEUTICALS, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.05in; line-height: 115%">(Registrant)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 57%; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 40%; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 1.6pt; line-height: 115%">By:</TD>
    <TD STYLE="padding-right: 1.6pt; line-height: 115%; text-decoration: underline">/s/ Jeff Riley</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.05in 0 0.5in">Name: Jeff Riley</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.05in 0 0.5in">Title: Chairman, President and Chief Executive Officer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.05in 0 0">&nbsp;</P></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.05in; line-height: 115%">&nbsp;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.05in 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.05in 0 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.05in 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
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    <TD STYLE="width: 12%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.8pt 0 0; text-align: center"><B>Exhibit</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.8pt 0 0; text-align: center"><B>Number</B></P></TD>
    <TD STYLE="width: 88%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.8pt 0 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.8pt 0 0"><B>Description</B></P></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; text-align: center">10.1</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">Employment Agreement, dated February 3, 2012, by and between Jeff Riley and the Company.*</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; text-align: center">10.2</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; text-align: justify">Consulting Agreement dated February 3, 2012 by and between Dr. James S. Kuo and the Company.*</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; text-align: center">99.1</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; text-align: justify">Press Release dated February 6, 2012.*</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt; line-height: 115%; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt; line-height: 115%; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">*Filed herewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>v301320_ex10-1.htm
<DESCRIPTION>EMPLOYMENT AGREEMENT
<TEXT>
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<P STYLE="margin: 0; text-align: right">EXHIBIT 10.1</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EMPLOYMENT AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">This Employment Agreement
(this &ldquo;Agreement&rdquo;), dated February 3, 2012, by and between Adeona Pharmaceuticals, Inc., a corporation organized under
the laws of the State of Nevada (the &ldquo;Corporation&rdquo;), and Jeffrey Riley, an individual (the &ldquo;Executive&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EMPLOYMENT;
DUTIES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(a)&#9;The Corporation
hereby engages and employs Executive as the Chairman of the Board of Directors, Chief Executive Officer and President of the Corporation,
and Executive hereby accepts such engagement and employment as Chairman of the Board of Directors, Chief Executive Officer and
President of the Corporation, for the term of this Agreement as long as Executive desires to serve. It is expected that Executive
will perform such duties commensurate with such titles and as the Board of Directors of the Corporation shall reasonably determine,
and the employment duties of Executive will include reporting directly to the Board of Directors of the Corporation for the full
time high quality performance of directing, supervising and having responsibility for all aspects of the operations and general
affairs of the Corporation as directed by the Board of Directors. Executive further agrees to serve without additional compensation
as an officer or director of any subsidiaries of the Corporation upon request of the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0in">&#9;(b)&#9;Executive
shall devote substantially all of his professional time under this Agreement to the business of the Corporation. Executive&rsquo;s
employment under this Agreement shall be Executive&rsquo;s exclusive employment during the term of this Agreement.&nbsp;&nbsp;Executive
may not engage, directly or indirectly, in any other business, investment, or activity that interferes with Executive's performance
of Executive's duties hereunder, is contrary to the interest of the Corporation or any of its subsidiaries, or requires any significant
portion of Executive's business time.&nbsp;&nbsp;The foregoing notwithstanding, the parties recognize and agree that Executive
may engage in personal investments, other business activities and civic, charitable or religious activities which do not conflict
with the business and affairs of the Corporation or interfere with Executive's performance of his duties hereunder.&nbsp;&nbsp;Executive
may not serve on the board of directors of any entity other than the Corporation during the Term (as hereinafter defined) without
the written approval of the Board of Directors.&nbsp;&nbsp;Executive shall be permitted to retain any compensation received for
approved service on any unaffiliated corporation's board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0in">&#9;(c)&#9;The Corporation
shall pay or reimburse reasonable travel, lodging, meal and related incidental costs of the Executive when the Executive is requested
to travel to or from the Corporation&rsquo;s locations and while on business for the Corporation, consistent with the Corporation&rsquo;s
travel policies in effect from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(d)&#9;The Corporation
shall provide a computer, cellular phone and office for Executive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TERM</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The term (the &ldquo;Term&rdquo;) of Executive&rsquo;s
employment shall be three (3) years from the execution date of this Agreement unless terminated earlier under Section 9 of this
Agreement. The parties may extend the Term for an additional three (3) year period upon mutual consent of Executive and the Board
of Directors of the Corporation, upon terms to be agreed upon by the parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;COMPENSATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(a)&#9;As compensation
for the performance of his duties on behalf of the Corporation, Executive shall receive the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#9;(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Base Salary</U>. Executive shall receive an annual base salary of Three Hundred Forty Eight Thousand Dollars ($348,000) for
the Term (the &ldquo;Base Salary&rdquo;), payable semi-monthly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#9;(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Bonus</U>. The Executive shall be eligible for an annual bonus of up to fifty percent (50%) of his base salary payable in cash
or equity. Any bonus that may be awarded will be in the sole and absolute discretion of both the Compensation Committee and the
Board of Directors of the Corporation. The amount of such bonus shall depend on the achievement by the Executive and/or the Corporation
of certain objectives to be established by the Board or the Compensation Committee in consultation with the Executive, along with
such other factors the Board and Compensation Committee deems relevant. Any bonus for a given fiscal year shall be payable in one
lump sum upon approval by the Board of Directors of the Corporation or the Compensation Committee, which shall be obtained by the
Corporation on or about January 31 of the following year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;&nbsp;&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(b)&#9;The Corporation
shall reimburse Executive for all normal, usual and necessary expenses incurred by Executive, including all travel, lodging and
entertainment, against receipt by the Corporation, as the case may be, of appropriate vouchers or other proof of Executive&rsquo;s
expenditures and otherwise in accordance with such Expense Reimbursement Policy as may from time to time be adopted by the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#9;(c)&#9;The Executive shall receive a non-restricted
option to purchase 750,000 shares of the Corporation&rsquo;s publicly traded common stock. The option shall be exercisable at the
market price per share on the date hereof. The option will vest monthly on each monthly anniversary of the date hereof and for
thirty six (36) successive months while Executive is employed by the Corporation and such options will remain exercisable for a
period of ten (10) years from the date of grant, unless terminated earlier. Other terms of the option, including the period to
exercise such options following termination of employment, shall be according to the Corporation&rsquo;s existing stock option
plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(d)&#9;The Corporation
shall provide Executive with full advance indemnification to the extent permitted by Nevada law, including indemnification for
activities at all subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(e)&#9;Executive shall
be entitled to four (4) weeks paid vacation and sick leave in accordance with the Corporation&rsquo;s policies. The Corporation
shall provide Executive and his family with healthcare coverage pursuant to the Corporation&rsquo;s healthcare insurance policy
plan as well as any other benefits provided to executive officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;REPRESENTATIONS
AND WARRANTIES BY EXECUTIVE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Executive hereby represents and warrants to
the Corporation as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
the execution and delivery of this Agreement nor the performance by Executive of his duties and other obligations hereunder violates
or will violate any statute, law, determination or award, or conflict with or constitute a default under (whether immediately,
upon the giving of notice or lapse of time or both) any prior employment agreement, contract, or other instrument to which Executive
is a party or by which he is bound.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Executive
has the full right, power and legal capacity to enter and deliver this Agreement and to perform his duties and other obligations
hereunder. This Agreement constitutes the legal, valid and binding obligation of Executive enforceable against him in accordance
with its terms. No approvals or consents of any persons or entities are required for Executive to execute and deliver this Agreement
or perform his duties and other obligations hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CONFIDENTIAL
INFORMATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Executive
agrees that during the course of his employment or at any time thereafter, he will not disclose or make accessible to any other
person, the Corporation&rsquo;s products, services and technology, both current and under development, promotion and marketing
programs, lists, trade secrets and other confidential and proprietary business information of the Corporation or any affiliates
or any of their clients. Executive agrees: (i) not to use any such information for himself or others, and (ii) not to take any
such material or reproductions thereof from the Corporation&rsquo;s facilities at any time during his employment by the Corporation
other than to perform his duties hereunder. Executive agrees immediately to return all such material and reproductions thereof
in his possession to the Corporation upon request and in any event upon termination of employment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
with prior written authorization by the Corporation, Executive agrees not to disclose or publish any of the confidential, technical
or business information or material of the Corporation, its clients or any other party to whom the Corporation owes an obligation
of confidence, at any time during or after his employment with the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event that Executive breaches any provisions of this Section 6 or there is a threatened breach, then, in addition to any other
rights which the Corporation may have, the Corporation shall be entitled, without the posting of a bond or other security, to injunctive
relief to enforce the restrictions contained herein. In the event that an actual proceeding is brought in equity to enforce the
provisions of this Section 6, Executive shall not urge as a defense that there is an adequate remedy at law, nor shall the Corporation
be prevented from seeking any other remedies which may be available. In addition, Executive agrees that in the event that he breaches
the covenants in this Section 6, in addition to any other rights that the Corporation may have, Executive shall be required to
pay to the Corporation any amounts he receives in connection with such breach.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Executive
recognizes that in the course of his duties hereunder, he may receive from the Corporation or others information which may be considered
&ldquo;material, non-public information&rdquo; concerning a public company that is subject to the reporting requirements of the
United States Securities and Exchange Act of 1934, as amended. Executive agrees not to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Buy
or sell any security, option, bond or warrant while in possession of relevant material, non-public information received from the
Corporation or others in connection herewith, and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provide
the Corporation with information with respect to any public company that may be considered material, non-public information, unless
first specifically agreed to in writing by the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;<BR>
&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;INVENTIONS DISCOVERED BY EXECUTIVE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Executive shall promptly disclose to the Corporation
any invention, improvement, discovery, process, formula, or method or other intellectual property, whether or not patentable or
copyrightable (collectively, &quot;Inventions&quot;), conceived or first reduced to practice by Executive, either alone or jointly
with others, while performing services hereunder (or, if based on any Confidential Information, within one (1) year after the Term),
(a) which pertain to any line of business activity of the Corporation, whether then conducted or then being actively planned by
the Corporation, with which Executive was or is involved, (b) which is developed using time, material or facilities of the Corporation,
whether or not during working hours or on the Corporation premises, or (c) which directly relates to any of Executive&rsquo;s work
during the Term, whether or not during normal working hours. Executive hereby assigns to the Corporation all of Executive&rsquo;s
right, title and interest in and to any such Inventions. During and after the Term, Executive shall execute any documents necessary
to perfect the assignment of such Inventions to the Corporation and to enable the Corporation to apply for, obtain and enforce
patents, trademarks and copyrights in any and all countries on such Inventions, including, without limitation, the execution of
any instruments and the giving of evidence and testimony, without further compensation beyond Executive&rsquo;s agreed compensation
during the course of Executive&rsquo;s employment. All such acts shall be done without cost or expense to Executive. Executive
shall be compensated for the giving of evidence or testimony after the term of Executive&rsquo;s employment at the rate of $1,000/day.
Without limiting the foregoing, Executive further acknowledges that all original works of authorship by Executive, whether created
alone or jointly with others, related to Executive&rsquo;s employment with the Corporation and which are protectable by copyright,
are &quot;works made for hire&quot; within the meaning of the United States Copyright Act, 17 U.S .C. (S) 101, as amended, and
the copyright of which shall be owned solely, completely and exclusively by the Corporation. If any Invention is considered to
be work not included in the categories of work covered by the United States Copyright Act, 17 U. S. C. (S) 101, as amended, such
work is hereby assigned or transferred completely and exclusively to the Corporation. Executive hereby irrevocably designates counsel
to the Corporation as Executive's agent and attorney-in-fact to do all lawful acts necessary to apply for and obtain patents and
copyrights and to enforce the Corporation's rights under this Section. This Section 7 shall survive the termination of this Agreement.
Any assignment of copyright hereunder includes all rights of paternity, integrity, disclosure and withdrawal and any other rights
that may be known as or referred to as &quot;moral rights&quot; (collectively &quot;Moral Rights&quot;). To the extent such Moral
Rights cannot be assigned under applicable law and to the extent the following is allowed by the laws in the various countries
where Moral Rights exist, Executive hereby waives such Moral Rights and consents to any action of the Corporation that would violate
such Moral Rights in the absence of such consent. Executive agrees to confirm any such waivers and consents from time to time as
requested by the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">8.&#9;NON-COMPETE; NON-SOLICITATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(a)&#9;NON-COMPETE.&nbsp;&nbsp;For
a period commencing on the date hereof and ending one (1) year after the date Executive ceases to be employed by the Corporation
(the &quot;Non-Competition Period&quot;), Executive shall not, directly or indirectly, either for himself or any other person,
own, manage, control, materially participate in, invest in, permit his name to be used by, act as consultant or advisor to, render
material services for (alone or in association with any person, firm, corporation or other business organization) or otherwise
assist in any manner any business which develops, markets or sells products in the field of gene therapy or that are directly competitive
with the products being developed or sold by the Corporation at the time of termination (collectively, a &quot;Competitor&quot;).&nbsp;&nbsp;Nothing
herein shall prohibit Executive from being a passive owner of not more than five percent (5%) of the equity securities of a Competitor
which is publicly traded, so long as he has no active participation in the business of such Competitor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(b)&#9;NON-SOLICITATION.&nbsp;&nbsp;During
the Non-Competition Period, Executive shall not, directly or indirectly, (i) induce or attempt to induce or aid others in inducing
anyone working at or for the Corporation to cease working at or for the Corporation, or in any way interfere with the relationship
between the Corporation and anyone working at or for the Corporation except in the proper exercise of Executive&rsquo;s authority
or (ii) in any way interfere with the relationship between the Corporation and any customer, supplier, licensee or other business
relation of the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(c)<FONT STYLE="letter-spacing: 9pt">&#9;</FONT>SCOPE.&nbsp;&nbsp;If,
at the time of enforcement of this Section 8, a court shall hold that the duration, scope, area or other restrictions stated herein
are unreasonable under circumstances then existing, the parties agree that the maximum duration, scope, area or other restrictions
reasonable under such circumstances shall be substituted for the stated duration, scope, area or other restrictions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="letter-spacing: 9pt">&#9;</FONT>INDEPENDENT
AGREEMENT.&nbsp;&nbsp;The covenants made in this Section 8 shall be construed as an agreement independent of any other provisions
of this Agreement, and shall survive the termination of this Agreement.&nbsp;&nbsp;Moreover, the existence of any claim or cause
of action of Executive against the Corporation or any of its affiliates, whether or not predicated upon the terms of this Agreement,
shall not constitute a defense to the enforcement of these covenants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(e)&#9;EXCEPTIONS. The
Non-Competition Period shall be reduced to a period ending on the six month anniversary of the date of termination of this Agreement
if such termination is by the Corporation without Just Cause (as defined in Section 9 below) or by the Executive for Good Reason
(as defined in Section 9 below).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TERMINATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Executive&rsquo;s employment hereunder shall
continue as set forth in Section 2 hereof unless terminated upon the first to occur of the following events:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#9;(a)&#9;The Executive&rsquo;s death.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#9;(b)&#9;The Executive&rsquo;s &ldquo;Disability&rdquo;,
meaning the Executive&rsquo;s incapacity, due to physical or mental illness, which results in Executive having been absent from
fully performing his duties with the Company for a continuous period of more than sixty (60) days or more than ninety (90) days
in any period of three hundred sixty-five (<FONT STYLE="letter-spacing: -0.15pt">365) consecutive days. </FONT>In the event that
the Corporation intends to terminate the employment of Executive by reason of Disability, the Corporation shall give the Executive
no less than thirty (30) days&rsquo; prior written notice of the Corporation&rsquo;s intention to terminate Executive&rsquo;s employment.&nbsp;&nbsp;The
Executive agrees, in the event of any dispute hereunder as to whether a Disability exists, and if requested by the Corporation,
to submit to a physical examination in the state of the Corporation&rsquo;s executive offices by a licensed physician selected
by mutual agreement between the Corporation and the Executive, the cost of such examination to be paid by the Corporation. The
written medical opinion of such physician shall be conclusive and binding upon each of the parties hereto as to whether a Disa<FONT STYLE="letter-spacing: -0.15pt">bility
exists and the date when such Disability arose. If the Executive refuses to submit to appropriate examinations by such physician
at the request of the Corporation, the determination of the Executive&rsquo;s Disability by the Corporation in good faith will
be conclusive as to whether such Disability exists. </FONT>This Agreement shall be interpreted and applied so as to comply with
the provisions of the Americans with Disabilities Act (to the extent that it is applicable) and any other applicable laws regarding
disability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Just
Cause&rdquo;, meaning the Executive&rsquo;s:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(i)&#9;gross insubordination;
acts of embezzlement or misappropriation of funds; fraud; dereliction of fiduciary obligations;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.75in">&#9;(ii)&#9;conviction
of a felony or other crime involving moral turpitude, dishonesty or theft;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.75in">&#9;(iii)&#9;willful unauthorized
disclosure of confidential information belonging to the Corporation or entrusted to the Corporation by a client;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.75in">&#9;(iv) &#9;material
violation of any provision of the Agreement, which is not cured by Executive within thirty (30) days of receiving written notice
of such violation by the Corporation;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.75in">&#9;(v) &#9;being under
the influence of drugs (other than prescription medicine or other medically-related drugs to the extent that they are taken in
accordance with their directions) during the performance of Executive&rsquo;s duties under this Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.75in">&#9;(vi) &#9;engaging
in behavior that would constitute grounds for liability for harassment (as proscribed by the U.S. Equal Employment Opportunity
Commission Guidelines or any other applicable state or local regulatory body) or other egregious conduct that violates laws governing
the workplace;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.75in">&#9;(vii) &#9;willful
failure to perform his written assigned tasks, where such failure is attributable to the fault of Executive which is not cured
by Executive within thirty (30) days of receiving written notice of such violation by the Corporation..</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In the event that the Corporation
intends to terminate the employment of Executive by reason of Just Cause, the Corporation shall give the Executive written notice
of the Corporation&rsquo;s intention to terminate Executive&rsquo;s employment, and such termination may be effective immediately,
unless a cure period applies, in which case the termination date may not precede the expiration date of the applicable cure period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;Without
Just Cause&rdquo;, meaning written notice by the Corporation to the Executive of a termination without Just Cause and other than
due to death or Disability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#9;(e)&#9;&ldquo;Good Reason&rdquo;, meaning:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(i)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>a material breach by the Corporation of the terms of this Agreement, which breach is not cured within thirty (30) days after
notice thereof from Executive; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(ii)<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>an assignment to Executive of any duties materially inconsistent with Executive&rsquo;s position(including status, office,
title and reporting requirements) authority, duties or responsibilities as contemplated by this Agreement which results in material
diminution in such position, authority, duties or responsibilities, specifically excluding for this purpose an isolated and insubstantial
action not taken in bad faith which is remedies by the Corporation after receipt of notice thereof given by Executive; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 1in">(iii) &nbsp; a change
in control which shall mean (a) any person becomes the beneficial owner (as term is defined in the Securities Exchange Act of 1934)
directly or indirectly, of securities representing more than fifty percent (50%) of the total voting power of Company&rsquo;s shares;
or (b) a change in the composition of the Board of Directors as a result of which fewer than a majority of the directors are Incumbent
Directors.&nbsp;&nbsp;Incumbent Directors shall mean directors who are either directors of the Company on the date hereof or are
elected by the Board of Directors with the affirmative vote of a majority of the Incumbent Directors at the time of election; or
(c) the Company merges with another corporation after which a majority of the shares of the resulting entity are not held by shareholders
of the Company prior to the merger.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In the event that the Executive
intends to terminate his employment for Good Reason, the Executive shall give the Corporation written notice of his intention to
terminate his employment, and such termination may be effective immediately, unless a cure period applies, in which case the termination
date may not precede the expiration date of the applicable cure period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without
Good Reason, meaning written notice by the Executive to the Corporation of a termination without Good Reason.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">If the Executive&rsquo;s
employment hereunder is terminated for any reason, the Executive or his estate as the case may be, will be entitled to receive
the accrued base salary, vacation pay, expense reimbursement and any other entitlements accrued by Executive under Section 2(b),
to the extent not previously paid (the sum of the amounts described in this subsection shall be hereinafter referred to as the
&ldquo;Accrued Obligations&rdquo;); <U>provided</U>, <U>however</U>, that if Executive&rsquo;s employment is terminated (1) by
the Corporation without Just Cause or by the Executive for Good Reason then in addition to paying the Accrued Obligations , the
Corporation shall continue to pay the Executive his then- current base salary and continue to provide benefits to the Executive
at least equal to those which he had at the time of termination for a period of six months after termination and (y) Executive
shall have the right to exercise any vested options until the earlier of the expiration of the severance or the expiration of the
term of the option, or (2) by reason of death or Disability, then in addition to paying the Accrued Obligations, Executive shall
have the right to exercise any vested options until the expiration of the term of the option. If Executive commences employment
with another employer and is eligible to receive medical or other welfare benefits under another employer-provider plan, the medical
and other welfare benefits to be provided by the Corporation as described herein shall terminate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOTICES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Any notice or other communication under this
Agreement shall be in person or in writing and shall be deemed to have been given (i) when delivered personally against receipt
therefor, (ii) one (1) day after being sent by Federal Express or similar overnight delivery, (iii) three (3) days after being
mailed registered or certified mail, postage prepaid, return receipt requested, to either party at the address set forth above,
or to such other address as such party shall give by notice hereunder to the other party, or (iv) when sent by facsimile, followed
by oral confirmation and with a hard copy sent as in (ii) or (iii) above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SEVERABILITY
OF PROVISIONS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If any provision of this Agreement shall be
declared by a court of competent jurisdiction to be invalid, illegal or incapable of being enforced in whole or in part, such provision
shall be interpreted so a to remain enforceable to the maximum extent permissible consistent with applicable law and the remaining
conditions and provisions or portions thereof shall nevertheless remain in full force and effect and enforceable to the extent
they are valid, legal and enforceable, and no provision shall be deemed dependent upon any other covenant or provision unless so
expressed herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ENTIRE
AGREEMENT MODIFICATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This Agreement contains the entire agreement
of the parties relating to the subject matter hereof, and the parties hereto have made no agreements, representations or warranties
relating to the subject matter of this Agreement which are not set forth herein. No modification of this Agreement shall be valid
unless made in writing and signed by the parties hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BINDING
EFFECT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The rights, benefits, duties and obligations
under this Agreement shall inure to, and be binding upon, the Corporation, its successors and assigns, and upon Executive and his
legal representatives. This Agreement constitutes a personal service agreement, and the performance of Executive&rsquo;s obligations
hereunder may not be transferred or assigned by Executive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NON-WAIVER</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The failure of either party to insist upon
the strict performance of any of the terms, conditions and provisions of this Agreement shall not be construed as a waiver or relinquishment
of future compliance therewith, and said terms, conditions and provisions shall remain in full force and effect. No waiver of any
term or condition of this Agreement on the part of either party shall be effective for any purpose whatsoever unless such waiver
is in writing and signed by such party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GOVERNING
LAW, DISPUTE RESOLUTION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This Agreement shall be governed by, and construed
and interpreted in accordance with, the laws of the State of Virginia of the United States of America without regard to principles
of conflict of laws. The State of Virginia shall be the exclusive jurisdiction for any disputes arising under this Agreement and
the Parties hereby consent to such jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HEADINGS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The headings of paragraphs are inserted for
convenience and shall not affect any interpretation of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>IN WITNESS WHEREOF</B>,
the parties hereto have executed this Agreement as of the day and year first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Corporation:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ADEONA PHARMACEUTICALS, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">By:&nbsp;&nbsp;<U>/s/ Lara M.
Guzman&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 22pt; text-indent: 0pt; text-align: justify">Title:&nbsp;&nbsp;Authorized
agent&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Executive:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>/s/ Jeffrey Riley&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify">Jeffrey
Riley&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt">&nbsp;</P>



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<FILENAME>v301320_ex10-2.htm
<DESCRIPTION>CONSULTING AGREEMENT
<TEXT>
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<P STYLE="margin: 0; text-align: right">EXHIBIT 10.2</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: center">CONSULTING AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">THIS CONSULTING
AGREEMENT (this &ldquo;Agreement&rdquo;), dated as of February 3, 2012, is by and between Adeona Pharmaceuticals, Inc., a Nevada
corporation (the &ldquo;Company&rdquo;), and James S. Kuo, M.D., M.B.A. (&ldquo;Consultant&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">WHEREAS, the Consultant
acknowledges his resignation as an officer of the Company and the Company desires to retain Consultant to provide certain business
and financial advisory services in connection with the Company&rsquo;s business pursuant to the terms and conditions hereinafter
provided.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">NOW THEREFORE, in
consideration of the mutual promises and covenants set forth in this Agreement, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto hereby agree as follows:</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-decoration: text-align: justify; text-indent: 0.5in">1.&#9;<U>Term</U>.
Subject to the terms of this Agreement the Company hereby engages Consultant to provide consulting services for the Company and
its affiliates for a period of nine (9) months (the &ldquo;Term&rdquo;) commencing on February 3, 2012 (the &ldquo;Effective Date&rdquo;).
Notwithstanding anything in this Agreement to the contrary, this Agreement may not be terminated by the Company for any reason
whatsoever except that this Agreement may be terminated by the Company if Consultant elects to no longer serve in his capacity
as a director of the Company until the next annual meeting of shareholders.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-decoration: text-align: justify; text-indent: 0.5in">2.&#9;<U>Duties</U>.
In acting under this Agreement as a consultant to the Company, Consultant shall perform the following services:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9;(</FONT>a)&#9;Provide
assistance as needed in connection with the Corporation&rsquo;s relocation and transition into the field of synthetic DNA-based
therapy;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 76.5pt">(b) &#9;Provide transition
assistance in connection with the Corporation&rsquo;s investors, shareholders, estriol and zinc programs and clinical lab; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 76.5pt">(c)&#9;Any such other
activities as the parties may mutually agree to, all with the objective of accomplishing the company&rsquo;s business and financial
goals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Consultant shall be available
for advice and counsel to the officers and directors of the Company and its affiliates subject to reasonable advance notice at
such convenient times and places as may be mutually agreed upon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-decoration: text-align: justify; text-indent: 0.5in">3.&#9;<U>Compensation</U>.
In consideration of Consultant serving as a consultant to the Company, during the Term Consultant shall be paid a consulting fee
of Sixteen Thousand Six Hundred Sixty Six Dollars ($16,666) per month for nine (9) months, payable semi-monthly in accordance
with the normal payroll practices of the Company. In addition, Consultant shall be entitled to an additional two (2) weeks paid
vacation based upon the monthly rate on a pro rated basis. Notwithstanding anything in this Agreement to the contrary, in no event
shall any of the compensation set forth in this Section 3 be reduced in any manner subject to the exception for termination set
forth in Section 1 of this Agreement.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-decoration: text-align: justify; text-indent: 0.5in">4.&#9;<U>Expenses</U>.
The Company shall reimburse Consultant for reasonable expenses incurred by it in performing services under this Agreement, provided
that: (a)&nbsp;Consultant submits to the Company evidence satisfactory to the Company of the amount and purpose of each such expense
and (b)&nbsp;that Consultant obtains the Company&rsquo;s written consent prior to incurring any expenses, such consent not to
be unreasonably withheld.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; font-variant: normal; text-indent: 0.5in"></P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; font-variant: normal; font-variant: normal; font-variant: normal; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-decoration: text-align: justify; text-indent: 0.5in">5.&#9;<U>Stock
Options</U>. Consultant shall retain the right to exercise the stock options of the Company held by him that have vested as of
the Effective Date for a period expiring on the date that is one (1) year from the Effective Date (the &ldquo;Vesting Date&rdquo;).
The Company shall enable the exercise of these options by Consultant in the normal fashion it has enabled other employees to exercise
their stock options and without any restrictions. All of the stock options held by Consultant that have not been vested as of
the Vesting Date shall terminate.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-decoration: text-align: justify; text-indent: 0.5in">6.&#9;<U>Health
Benefits</U>. During the Term of this Agreement and for an additional three (3) months, the Company shall provide Executive and
his family with healthcare and dental coverage pursuant to the Company&rsquo;s healthcare and dental insurance policy plan in
addition to any benefits under state and federal law to which he is entitled.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-decoration: text-align: justify; text-indent: 0.5in">7.&#9;<U>Confidential
Information</U>. During the Term of this Agreement and any time following termination of this Agreement, Consultant shall not,
directly or indirectly, disclose or permit to be known, to any person or entity, or use for any purpose other than as needed to
perform consulting services for the Company or its affiliates, any confidential information acquired by it during the course of
providing services under this Agreement that relates to the Company or any of its affiliates; provided, however, that Consultant
may disclose such information if requested or required by a government agency, regulatory or self-regulatory body with jurisdiction
over Consultant. For purposes hereof, the obligation to maintain confidentiality shall not apply to information which: (a) is
otherwise known to Consultant (as evidenced by its written records), (b) is or enters into the public domain, through no fault
of, action or failure to act by Consultant, (c) becomes known to Consultant from a third-party source whom Consultant does not
know to be subject to any obligation of confidentiality, or (d) was independently developed by Consultant without any use of the
information. Such confidential information includes without limitation proprietary information, trade secrets, know-how, market
studies and forecasts, analyses of competitors, the substance of agreements with clients and others, and client lists.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-decoration: text-align: justify; text-indent: 0.5in">8.&#9;<U>Company
Property</U>. All records, files, lists (including without limitation computer-generated lists), documents, equipment, and similar
items relating to the business of the Company or any of its affiliates that Consultant prepares or receives from the Company or
any of its affiliates will remain the Company&rsquo;s sole property. Upon termination of this Agreement, Consultant shall promptly
return to the Company all property of the Company or any of its affiliates that is then in its possession or under its control.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-decoration: text-align: justify; text-indent: 0.5in">9.&#9;<U>Inventions
Discovered by Consultant</U>. Consultant shall promptly disclose to the Company any invention, improvement, discovery, process,
formula, or method or other intellectual property, whether or not patentable or copyrightable (collectively, &quot;Inventions&quot;),
conceived or first reduced to practice by Consultant, either alone or jointly with others, while performing services hereunder
(or, if based on any Confidential Information, within one (1) year after the Term), (a) which pertain to any line of business
activity of the Company, whether then conducted or then being actively planned by the Company, with which Consultant was or is
involved, (b) which is developed using time, material or facilities of the Company, whether or not during working hours or on
the Company premises, or (c) which directly relates to any of Consultant&rsquo;s work during the Term, whether or not during normal
working hours. Consultant hereby assigns to the Company all of Consultant&rsquo;s right, title and interest in and to any such
Inventions. During and after the Term, Consultant shall execute any documents necessary to perfect the assignment of such Inventions
to the Company and to enable the Company to apply for, obtain and enforce patents, trademarks and copyrights in any and all countries
on such Inventions, including, without limitation, the execution of any instruments and the giving of evidence and testimony,
without further compensation beyond Consultant&rsquo;s agreed compensation during the course of the Term. All such acts shall
be done without cost or expense to Consultant. Consultant shall be compensated for the giving of evidence or testimony after the
Term at the rate of $1,000/day. Without limiting the foregoing, Consultant further acknowledges that all original works of authorship
by Consultant, whether created alone or jointly with others, related to Consultant&rsquo;s consulting services to the Company
and which are protectable by copyright, are &quot;works made for hire&quot; within the meaning of the United States Copyright
Act, 17 U.S .C. (S) 101, as amended, and the copyright of which shall be owned solely, completely and exclusively by the Company.
If any Invention is considered to be work not included in the categories of work covered by the United States Copyright Act, 17
U. S. C. (S) 101, as amended, such work is hereby assigned or transferred completely and exclusively to the Company. Consultant
hereby irrevocably designates counsel to the Company as Consultant&rsquo;s agent and attorney-in-fact to do all lawful acts necessary
to apply for and obtain patents and copyrights and to enforce the Company's rights under this Section. This Section 9 shall survive
the termination of this Agreement. Any assignment of copyright hereunder includes all rights of paternity, integrity, disclosure
and withdrawal and any other rights that may be known as or referred to as &quot;moral rights&quot; (collectively &quot;Moral
Rights&quot;). To the extent such Moral Rights cannot be assigned under applicable law and to the extent the following is allowed
by the laws in the various countries where Moral Rights exist, Consultant hereby waives such Moral Rights and consents to any
action of the Company that would violate such Moral Rights in the absence of such consent. Consultant agrees to confirm any such
waivers and consents from time to time as requested by the Company.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; font-variant: normal; text-indent: 0.5in"></P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; font-variant: normal; font-variant: normal; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-decoration: text-align: justify; text-indent: 0.5in">10.&#9;<U>Non-Disparagement</U>.
Each of the Consultant and the Company (for purposes hereof, &ldquo;the Company&rdquo; shall include&nbsp;the executive officers
and directors thereof) agrees that during the term of this Agreement and any time following termination of this Agreement not
to make any public statements that disparage the other party, or its respective affiliates, employees, officers, directors, products
or services. Notwithstanding the foregoing, statements made in the course of sworn testimony in administrative, judicial or arbitral
proceedings (including, without limitation, depositions in connection with such proceedings) shall not be subject to this Section&nbsp;10.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-decoration: text-align: justify; text-indent: 0.5in">11.&#9;<U>Release</U>.
(a)&#9;Consultant agrees to fully release and discharge the Company as well as its officers, owners, directors, attorneys, agents,
representatives, assigns, and successors with respect to and from any and all claims, wages, demands, rights, liens, agreements,
contracts, including any employment agreement(s) between the Consultant and the Company and any actions, suits, obligations, debts,
damages and judgments of whatever kind or nature in law equity or otherwise, whether now known, or unknown, present or future,
arising out of or in any way connected to his employment from the Company or any transactions, occurrences, acts or omissions
or any loss, damage or injury whatsoever, whether known, or unknown, present or future, suspected or unsuspected, resulting from
any act or omission by or on the part of the Company in connection with such employment.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)&#9;The
Company<B> </B>agrees to fully release and discharge Consultant from any and all claims, demands, rights, agreements, contracts,
actions, suits, obligations, debts, damages and judgments of whatever kind or nature in law equity or otherwise, whether now known,
or unknown, present or future, arising out of or in any way connected to his employment and severance from the Company or any transactions,
occurrences, acts or omissions or any loss, damage or injury whatsoever, whether known or unknown, present or future, suspected
or unsuspected, resulting from any act or omission by or on the part of Consultant. Specifically excluded from this release is
any obligation set forth in this Agreement.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)&#9;<FONT STYLE="color: black">This
Agreement is intended by the parties to be interpreted by a court called upon to so interpret this Agreement as being the broadest
form of release. It is understood and agreed <B>t</B>hat the Parties expressly waive any and all rights and claims under any and
all laws or statutes, of any jurisdiction whatsoever, which may provide that a general release does not extend to claims not known
or suspected to exist at the time of executing a release which if known would have materially affected the decision to give said
release. </FONT></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; font-variant: normal; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; font-variant: normal; font-variant: normal; font-variant: normal; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 1in">(d)&#9;<FONT STYLE="color: black">Without
limiting the generality</FONT> of the foregoing, the release provided for in this Section 11 also specifically pertains to any
claim, whether State, Federal, statutory, administrative or common-law under Title 7 of the Civil Rights Act of 1964 as amended
in 1991, the Age Discrimination and Employment Act, the Older Worker&rsquo;s Benefit Protection Act, the American with Disabilities
Act, the Family and Medical Leave Act, the Florida Civil rights Act of 1992, the Pregnancy Discrimination Act and Unemployment
Compensation Laws as well as any amendments to any of the foregoing, any common-law or statutory wrongful discharge or retaliatory
discharge theory, or any claim including but not limited to claims for, bonus, sick leave, holiday pay, vacation pay, life insurance,
health or medical insurance or any other fringe benefit other than as mentioned in this Agreement. For a period of seven (7) days
following the execution of this Agreement, Consultant may revoke this Agreement by sending written notice of the same to the Company
addressed to Mr. Jeffrey Riley at the address set forth in Section 15 below.&nbsp;&nbsp;For the revocation to be effective, the
Company must receive the written notice by not later than the close of business on the seventh day after Consultant signs this
Agreement.&nbsp;&nbsp;This Agreement shall not become effective or enforceable until this seven (7) day revocation period has expired
without Consultant having exercised his right to revoke.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-decoration: text-align: justify; text-indent: 0.5in">12.&#9;<U>Equitable
Relief</U>. In the event that Consultant breaches any provision of this Sections 7 or 9 or there is a threatened breach, then,
in addition to any other rights which the Company may have, the Company shall be entitled, without the posting of a bond or other
security, to injunctive relief to enforce the restrictions contained herein. In the event that an actual proceeding is brought
in equity to enforce any provisions of Section 7 or 9, Consultant shall not urge as a defense that there is an adequate remedy
at law, nor shall the Company be prevented from seeking any other remedies which may be available. In addition, Consultant agrees
that in event that he breaches the covenants in Section 7 or 9, in addition to any other rights that the Company may have, Consultant
shall be required to pay to the Company any amounts he receives in connection with such breach.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-decoration: text-align: justify; text-indent: 0.5in">13.&#9;<U>No
Violation</U>. Consultant represents that his entry into this Agreement and his providing services hereunder will not conflict
with any contract to which Consultant is a party.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-decoration: text-align: justify; text-indent: 0.5in">14.&#9;<U>Nature
of Relationship</U>. In rendering services under this Agreement, Consultant will be an independent contractor and will not be
considered as having an employee status or being entitled to participate in any Company employee plans, arrangements, or distributions.
The Company acknowledges that Consultant will be performing similar services for other clients and that Consultant is free to
perform such services for other persons and entities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11.8pt; text-align: justify; text-indent: 0.5in">15&#9;<U>Notices</U>.
All notices, requests, demands and other communications hereunder shall be in writing and shall be delivered: (a) personally;
(b) by facsimile transmission; (c) by a commercial overnight delivery service (e.g., Federal Express, UPS, Airborne, etc.) and
paid for by the sender; or (d) by certified, registered or express mail, postage prepaid. Any such notice shall be deemed given
when so delivered: (i) personally, upon such service or delivery; (ii) if sent by facsimile transmission, on the day so transmitted,
if the sender calls to confirm that such notice has been sent by facsimile and has a printed report which indicates that such
transmission was, in fact, sent to the facsimile number indicated below; (iii) if sent by commercial overnight delivery service,
on the date reflected by such service as delivered to the addressee; or (iv) if mailed by certified or registered mail, five business
days after the date of deposit in the United States mail. In each instance, such notice, request, demand or other communications
shall be addressed as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11.8pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11.8pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11.8pt 0.5in; text-align: justify; text-indent: 0.5in"><U>If to
the Company</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">Adeona Pharmaceuticals,
Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">3985 Research
Park Drive, Suite 200</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in">Ann Arbor, MI
48108</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in"><U>with a copy to</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">Gracin &amp; Marlow, LLP<BR>
The Chrysler Building<BR>
405 Lexington Avenue, 26<SUP>th</SUP> Floor<BR>
New York, NY 10174<BR>
Attention: Leslie Marlow, Esq.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in">Email: lmarlow@gracinmarlow.com<BR>
Facsimile: (212) 208-4657</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in"><U>If to Consultant</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in">James S. Kuo, M.D., M.B.A.<BR STYLE="mso-special-character: line-break"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 1in; text-align: justify"><U>with a copy to</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">Schickler Tuan LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">75 Rockefeller Plaza, 18<SUP>th</SUP>
Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">New York, New York, 10019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">Attention: Han Hsien-Tuan</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">Email: htuan@schicklertuan.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">Facsimile: (212)212-6298</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 0 9pt; text-decoration: text-align: justify; text-indent: 0.5in">16.&#9;<U>Governing
Law</U>. This Agreement and all matters arising hereunder (including without limitation tort claims) are governed by the laws
of the State of Virginia, without giving effect to principles of conflict of laws. Virginia shall be the exclusive jurisdiction
for any disputes arising under this Agreement and the Parties consent to such jurisdiction.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-decoration: text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 9pt; text-decoration: text-align: justify; text-indent: 0.5in">17.&#9;<U>Amendment</U>.
This Agreement may be amended only by written agreement of the parties.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 9pt; text-decoration: text-align: justify; text-indent: 0.5in">18.&#9;<U>Counterparts</U>.
This Agreement may be executed in several counterparts, each of which is an original and all of which together constitute one
and the same instrument.</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 9pt; font-variant: normal; text-indent: 0.5in"></P>

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<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 9pt; font-variant: normal; font-variant: normal; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.25in; text-align: justify; text-indent: 0.5in">The undersigned
are signing this Agreement on the date stated in the introductory clause.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.25in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 30pt; text-indent: 2.5in"><B>ADEONA PHARMACEUTICALS, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2.5in">By: &nbsp;<U>/s/ Jeff
Riley&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 198pt; text-indent: 0pt; text-align: justify">Name:&nbsp;&nbsp;Jeff Riley</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 198pt; text-indent: 0pt; text-align: justify">Title:&nbsp;&nbsp;Chairman,
President and Chief Executive Officer&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2.5in"><U>/s/ James S. Kuo&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2.5in">JAMES S. KUO, M.D., M.B.A</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2.5in"></P>

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<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><IMG SRC="image_001.jpg" ALT=""></P>



<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Adeona Announces Executive Management Transitions
and Board of Directors Appointments</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">to Strengthen Company&rsquo;s Synthetic
Biologics Strategic Focus</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>-- Adeona Chairman, Jeff Riley, Appointed
New CEO;</I></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>James S. Kuo to Remain on Board; Scott
L. Tarriff and Nelson K. Stacks Join Board --</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>For Immediate Release</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"><B>Ann Arbor, MI, February
6, 2012 &ndash;</B> Adeona Pharmaceuticals, Inc. (NYSE Amex: AEN - News), a developer of synthetic DNA-based therapeutics and innovative
disease-modifying medicines for serious illnesses, announced today executive management transitions and Board of Director appointments
to strengthen and expand the Company&rsquo;s leadership, as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: -0.25in; margin-right: 0; margin-left: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Jeff Riley, a member of the Adeona Board of Directors since March 2010 and Chairman of the Board since November 2011, was appointed
as the Company&rsquo;s President and Chief Executive Officer.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: -0.25in; margin-right: 0; margin-left: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Scott L. Tarriff and Nelson K. Stacks were appointed independent members of the Company&rsquo;s Board of Directors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">James S. Kuo will continue
to serve on the Company&rsquo;s Board of Directors, having resigned from his day-to-day management positions to pursue other opportunities.
Mr. Riley has stepped down from Adeona&rsquo;s Audit and Nominations Committees; independent director, Jeffrey Kraws, was elected
to the Nominations Committee and Mr. Stacks was elected to the Audit Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">&ldquo;As we align ourselves
with our new focus on the emerging field of synthetic biologics, these management transitions and board appointments position Adeona
to benefit from the expertise of each of these experienced life science leaders. The Board of Directors welcomes Jeff to the executive
management team as he assumes the responsibilities of CEO. Jeff&rsquo;s considerable management and financial experience during
his career will help shape the vision and skills needed to lead Adeona to future success,&rdquo; said Jeffrey Kraws, on behalf
of the Board of Directors. &ldquo;We also thank Jim for his service to Adeona as he transitions out of his management role, and
appreciate the continuity he will bring to the Company as a member of the Board.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">Mr. Riley has more than
20 years of experience in the biotechnology and pharmaceutical industries during which he negotiated numerous worldwide strategic
corporate alliances, established joint ventures, and assisted in obtaining venture financings to support product development. Most
recently, in addition to serving as Adeona&rsquo;s Chairman, where he played an integral role in the formation of the Company&sup1;s
recent collaboration with Intrexon Corporation, he served as Managing Director of 526 Ventures, a life science-focused venture
capital and advisory firm. Prior to this, Mr. Riley was a venture partner with QIC Bioventures Fund, the life science-focused venture
component of the $70 billion Australian-based Queensland Investment Corporation (QIC). Over his career, he held senior positions
within the mergers &amp; acquisitions and in country management groups at both SmithKline Beecham and Pfizer. Additionally, he
served as CFO and VP Corporate Development for Nichols Institute Diagnostics, a division of Quest Diagnostics, Inc. (NYSE: DGX).
Mr. Riley holds a Bachelor of Science degree in International Relations/Biology and participated in a dual-degree graduate program
(MBA/MIM) sponsored by Arizona State University and the Thunderbird School of Global Management.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">&ldquo;This is a very
exciting time for our Company. I have been actively involved in the efforts to move Adeona forward as Chairman, and look forward
to leading Adeona into its new phase of development in the area of synthetic DNA-based therapeutics, continuing to build shareholder
value and pursuing an important contribution to the future of healthcare,&rdquo; stated Mr. Riley. &ldquo;Having served in leadership
positions with several biotechnology and pharmaceutical companies, and having experience with both public and private equity investors,
I am pleased to be taking on an active leadership role.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">Mr. Tarriff brings more
than 25 years of pharmaceutical experience to Adeona. In January 2007, he formed Eagle Pharmaceuticals, Inc., a hospital specialty
company focused on developing, distributing and in-licensing injectable IV products. Prior to forming Eagle, Mr. Tarriff served
as President, Chief Executive Officer and Director of Par Pharmaceutical Companies, Inc. (NYSE: PRX). During his tenure at Par,
he also served as the Executive Vice President of Business and as President and Chief Executive Officer of Par Pharmaceutical,
Inc., the company's principal operating subsidiary. Mr. Tarriff<FONT STYLE="color: black"> joined Par following a 12-year career
at Bristol-Meyers Squibb, where he held</FONT> several positions of increased responsibility in both the brand and generic divisions<FONT STYLE="color: black">.
He also served as a Director of </FONT>Clinical Data, Inc., a publicly-traded biopharmaceutical company which was acquired by Forest
Laboratories, Inc. in 2011. Mr. Tarriff received an MBA from Rider College and an undergraduate degree from Pennsylvania State
University.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 0; margin-left: 0">Mr. Stacks is the CEO
and Director of WaveGuide Corporation, a first in kind point of care hand held NMR diagnostic technology spin out from Harvard
University for infectious disease, circulating cancer and industrial applications. Prior to WaveGuide, Mr. Stacks served as the
President, CEO and Director of Vascular Pathways Incorporated and as a venture partner with QBF/QIC, an Australian life science
venture and superannuation fund. Over his career, Mr. Stacks has been a venture capitalist, most recently as the General Partner
at 3i Ventures and earlier at Oak Investment Partners. Mr. Stacks is a member of the fourth class of Kauffman Fellows and has invested
in all areas of healthcare and information technology. He also previously served as the Chairman of Xbio Systems and as CEO and
Executive Director of Xenome Limited. Mr. Stacks received an MBA from the F.W. Olin Graduate School of Business at Babson College
and a BA from The University of Rochester.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&ldquo;Scott&rsquo;s extensive management and
operational experience in the pharmaceutical sector, and Nelson&rsquo;s management and equity experience in the life science industry
bring essential knowledge and expertise to Adeona. We are pleased to welcome both of them to our Board,&rdquo; continued Mr. Riley.
&ldquo;I look forward to working with the entire team to build our portfolio of synthetic biologics product candidates and to advancing
our clinical programs for serious illnesses.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>About Adeona Pharmaceuticals, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Adeona is a biotechnology company focused on
the development of synthetic DNA-based therapeutics and innovative disease-modifying medicines for serious illnesses. Adeona is
developing, or has partnered the development of, product candidates to treat pulmonary arterial hypertension, relapses in multiple
sclerosis, cognitive dysfunction in multiple sclerosis, fibromyalgia and amyotrophic lateral sclerosis (ALS). For more information,
please visit Adeona's website at www.adeonapharma.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In December 2011, Adeona announced that the
Board of Directors had taken several actions to prioritize the company's focus on its recent entry into the emerging field of synthetic
biologics. As a result of its new primary focus, the Board approved a proposed name change of the company to Synthetic Biologics,
Inc., to better reflect its new mission and primary business. Such name change is subject to stockholder approval.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Synthetic Biologics is a trademark of Adeona
Pharmaceuticals, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>This release includes forward-looking statements
on Adeona's current expectations and projections about future events. In some cases forward-looking statements can be identified
by terminology such as &quot;may,&quot; &quot;should,&quot; &quot;potential,&quot; &quot;continue,&quot; &quot;expects,&quot; &quot;anticipates,&quot;
&quot;intends,&quot; &quot;plans,&quot; &quot;believes,&quot; &quot;estimates,&quot; and similar expressions. These statements
are based upon current beliefs, expectations and assumptions and are subject to a number of risks and uncertainties, many of which
are difficult to predict and include statements regarding our ability to continue to build shareholder value. The forward-looking
statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or
implied by any forward-looking statements. Important factors that could cause actual results to differ materially from those reflected
in Adeona's forward-looking statements include, among others, a failure to successfully integrate the new management and board
of directors and other factors described in Adeona's report on Form 10-K for the year ended December 31, 2010 and any other filings
with the SEC. The information in this release is provided only as of the date of this release, and Adeona undertakes no obligation
to update any forward-looking statements contained in this release on account of new information, future events, or otherwise,
except as required by law.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>For further information, please contact:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Jeff Riley</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Chief Executive Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(734) 332-7800, Ext. 22</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">###</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
