<SEC-DOCUMENT>0001144204-17-062794.txt : 20171207
<SEC-HEADER>0001144204-17-062794.hdr.sgml : 20171207
<ACCEPTANCE-DATETIME>20171207162933
ACCESSION NUMBER:		0001144204-17-062794
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20171204
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20171207
DATE AS OF CHANGE:		20171207

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Synthetic Biologics, Inc.
		CENTRAL INDEX KEY:			0000894158
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				133808303
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12584
		FILM NUMBER:		171245081

	BUSINESS ADDRESS:	
		STREET 1:		617 DETROIT STREET, SUITE 100
		CITY:			ANN ARBOR
		STATE:			MI
		ZIP:			48104
		BUSINESS PHONE:		(734) 332-7800

	MAIL ADDRESS:	
		STREET 1:		9605 MEDICAL CENTER DRIVE
		STREET 2:		SUITE 270
		CITY:			ROCKVILLE
		STATE:			MD
		ZIP:			20850

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ADEONA PHARMACEUTICALS, INC.
		DATE OF NAME CHANGE:	20081027

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>tv480950_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>of the Securities Exchange Act of 1934</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">Date of Report (Date of earliest event reported):
December 4, 2017</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>SYNTHETIC
BIOLOGICS, INC.</B></FONT></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 32%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nevada</FONT></TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">001-12584</FONT></TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13-3808303</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State or other jurisdiction<BR>
of incorporation)</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Commission File No.)</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(IRS Employer<BR>
Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">9605 Medical Center Drive, Suite 270</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">Rockville, MD 20850</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">Registrant&rsquo;s telephone number, including
area code: (301) 417-4364</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">(Former name or former address, if changed since
last report)</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-indent: 0.5in; text-align: justify">Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))</FONT></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; text-align: justify">Indicate by check mark whether the registrant
is an emerging growth company as defined in in Rule 405 of the Securities Act of 1933 (&sect;230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (&sect;240.12b-2 of this chapter).</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 0 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Emerging
growth company&nbsp;</FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></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"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
an emerging growth company, indicate by checkmark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.<FONT STYLE="background-color: white">&nbsp;</FONT></FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></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></B></P>

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<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></B></P>

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<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>Item 5.02. Departure of Directors or Certain
Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</B></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><I>Resignation of President, Chief Executive
Officer and Member of the Board of Directors</I></B></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">On December 5, 2017, Synthetic Biologics, Inc.
(the &ldquo;Company&rdquo;) issued a press release announcing that effective December 4, 2017, Jeffrey Riley, the Company&rsquo;s
President and Chief Executive Officer and a member of the Company&rsquo;s Board of Directors, had resigned from all positions with
the Company for personal reasons.</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">In addition, on December 5, 2017, Mr. Riley
and the Company entered into a Separation Agreement (the &ldquo;Separation Agreement&rdquo;), providing for, among other things,
the acceptance of Mr. Riley&rsquo;s resignation as the Company&rsquo;s President and Chief Executive Officer, effective on December
4, 2017, which was also Mr. Riley&rsquo;s last day of employment with the Company. The Separation Agreement also provides among
other things, that in addition to receiving all accrued obligations, including salary and earned and unused vacation days, Mr.
Riley will receive the following separation benefits: (i) twelve months&rsquo; payment of Mr. Riley&rsquo;s current base salary,
subject to payroll withholdings and deductions, paid on the Company&rsquo;s regular payroll dates; (ii) a cash bonus for 2017 of
$200,000; and (iii) the right to exercise vested stock options for one (1) year following December 5, 2017. Mr. Riley shall also
be entitled to COBRA continuation coverage, and the Company shall pay the COBRA premium for Mr. Riley for a maximum period of twelve
months after his separation from the Company.</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 separation benefits set forth in the Separation
Agreement are further conditioned upon Mr. Riley returning all Company property, complying with his post-termination obligations
under the Separation Agreement, including, but not limited to, complying with the cooperation, non-disparagement and confidentiality
provisions in the Separation Agreement and complying the Proprietary Information, Inventions Non-Solicitation and Non-Competition
Agreement previously entered into with the Company. Mr. Riley has also agreed to release, waive and discharge the Company and certain
others from all claims and other actions, as more fully described in the Separation Agreement.</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 foregoing summary of the terms of the Separation
Agreement does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Separation
Agreement, filed as Exhibit 10.1 to this Current Report on Form 8-K, and is incorporated by reference 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"><B><I>Appointment of Interim Chief Executive
Officer</I></B></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">On December 5, 2017, the Company announced
that the Board of Directors had appointed Steven A. Shallcross, the Company&rsquo;s Chief Financial Officer, to serve as its Interim
Chief Executive Officer. The terms and conditions of Mr. Shallcross&rsquo; employment as Interim Chief Executive Officer are being
discussed and once an agreement on compensation with Mr. Shallcross is reached, the Company will provide updated disclosure regarding
his employment arrangements and amended employment agreement.</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">Mr. Shallcross, age 56, joined the Company
in June 2015 as Chief Financial Officer, Treasurer and Secretary. Mr. Shallcross brings to the Company operational, financial and
international biotech industry experience, as well as an established track record at leading the financial development and strategy
for several publicly traded biotech companies. From May 2013 through May 2015, Mr. Shallcross served as Executive Vice President
and Chief Financial Officer of Nuo Therapeutics, Inc. (formerly Cytomedix, Inc.). In January 2016, Nuo Therapeutics, Inc. filed
a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District
of Delaware and on April 25, 2016, the Bankruptcy Court entered an order granting Nuo&rsquo;s plan or reorganization. From July
2012 to May 2013, Mr. Shallcross held the offices of Executive Vice President, Chief Financial Officer and Treasurer of Empire
Petroleum Partners, LLC, a motor fuel distribution company. From July 2011 to March 2012, Mr. Shallcross was Acting Chief Financial
Officer of Senseonics, Inc., a medical device company located in Germantown, MD. From January 2009 to March 2011, he served as
Executive Vice President and Chief Financial Officer of Innocoll AG (formerly privately held Innocoll Holdings, Inc.), a global,
commercial-stage biopharmaceutical company specializing in the development and commercialization of collagen based products. He
also served for four years as the Chief Financial Officer and Treasurer of Vanda Pharmaceuticals, Inc., leading the company through
its successful IPO and follow-on offering and previously served as the Senior Vice President and Chief Financial Officer of Middlebrook
Pharmaceuticals, Inc. (formerly Advancis Pharmaceutical Corporation). In addition, Mr. Shallcross also served as the Chief Financial
Officer of Bering Truck Corporation. He holds an MBA from the University of Chicago&rsquo;s Booth School of Business, a Bachelor
of Science degree in Accounting from the University of Illinois, Chicago, and is a Certified Public Accountant in the State of
Illinois.</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">Mr. Shallcross has no direct or indirect material
interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K, has no family relationships required
to be disclosed pursuant to Item 401(d) of Regulation S-K, and, except as otherwise previously disclosed by the Company, the Company
has not entered into or adopted a material plan or arrangement to which Mr. Shallcross participates or is a party.</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"><B>Item 9.01. Financial Statements and Exhibits.</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(d)</TD><TD>Exhibits</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The following exhibits
are being filed as part of this Current Report on Form 8-K.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 0.9in; text-align: center; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>Exhibit</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>Number</B></P></TD>
    <TD STYLE="vertical-align: top; width: 0.1in; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; width: 1in; padding-bottom: 1pt; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="tv480950_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><A HREF="tv480950_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Separation Agreement by and between Synthetic Biologics, Inc. and Jeffrey Riley, dated as of December 5, 2017</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="tv480950_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><A HREF="tv480950_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Press release of Synthetic Biologics, Inc., dated December 5, 2017</FONT></A></TD></TR>
</TABLE>
<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"><B>&nbsp;</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dated:&nbsp;&nbsp;December 7, 2017</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SYNTHETIC BIOLOGICS, INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 5%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 45%; padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 0.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Steven A. Shallcross</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.2pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Steven A. Shallcross</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.2pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Interim Chief Executive Officer and Chief Financial Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

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

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

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

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

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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>Exhibit</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>Number</B></P></TD>
    <TD STYLE="vertical-align: top; width: 0.1in; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1in; padding-bottom: 1pt; text-align: center; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="tv480950_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><A HREF="tv480950_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Separation Agreement by and between Synthetic Biologics, Inc. and Jeffrey Riley, dated as of December 5, 2017</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><A HREF="tv480950_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><A HREF="tv480950_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Press release of Synthetic Biologics, Inc., dated December 5, 2017</FONT></A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>



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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>tv480950_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<HTML>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 10.1</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><IMG SRC="tv480950_ex10-1img1.jpg" ALT="">&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; text-align: justify"><B>December 5, 2017</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">Jeffrey Riley</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">199 N. Capitol Blvd, Suite 807</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">Boise, ID 83702</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>Re:</B></TD><TD STYLE="text-align: justify"><B>Separation Agreement</B></TD></TR></TABLE>

<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">Dear Jeff:</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">This letter sets forth the substance of the
separation agreement (the &ldquo;Agreement&rdquo;) which Synthetic Biologics, Inc. (the &ldquo;Company&rdquo;) is offering to you
to aid in your employment transition.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Separation.</B>
The Company has accepted your resignation as President and CEO and as a member of the Board of Directors of the Company. Your last
day of work with the Company and your employment and Board service termination date will be December 4, 2017 (the &ldquo;Separation
Date&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued
Salary and Vacation.</B> On the next regular payroll date following the Separation Date, the Company will pay you all accrued salary
and all accrued and unused vacation earned through the Separation Date (the number of accrued and unused vacation days earned through
the Separation Date is 50 days), subject to standard payroll deductions and withholdings. You will receive these payments regardless
of whether or not you sign this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Severance
Benefits.</B> Although you are not eligible for severance benefits pursuant to the terms of your Employment Agreement dated February
27, 2017 (the &ldquo;Employment Agreement&rsquo;) if you execute and do not revoke this Agreement, the Company will provide you
with the following severance benefits:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><B>a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>The
Company will make severance payments to you in the form of continuation of your base salary in effect on the Separation Date for
twelve (12) months following the Separation Date. These payments will be subject to standard payroll deductions and withholdings
and will be made on the Company&rsquo;s ordinary payroll dates, beginning with the first such date which occurs at least eight
(8) business days following the &ldquo;Effective Date&rdquo; as defined below, provided the Company has received the executed Agreement
from you on or before that date and further provided that no severance payment will be made prior to the first payroll period of
2018. The Company is offering severance to you in reliance on Treasury Regulation Section 1.409A. For purposes of Code Section
409A, your right to receive any installment payments under this letter (whether severance payments, reimbursements or otherwise)
shall be treated as a right to receive a series of separate payments and, accordingly, each installment payment hereunder shall
at all times be considered a separate and distinct payment.</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">December 5, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Page 2 of 10</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"><B>b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>If
you timely elect and remain eligible for continued coverage under COBRA, the Company will pay your COBRA premiums for coverage
for you and your dependents for twelve (12) month(s) following the Separation Date or until the date you become eligible for substantially
equivalent health insurance coverage in connection with new employment or self-employment. Notwithstanding the foregoing, if at
any time the Company determines that its payment of COBRA premiums on the Executive&rsquo;s behalf would result in a violation
of applicable law (including but not limited to the 2010 Patient Protection and Affordable Care Act, as amended by the 2010 Health
Care and Education Reconciliation Act), then in lieu of paying COBRA premiums pursuant to this Section, the Company shall pay the
Executive on the last day of each remaining month of the COBRA Payment Period, a fully taxable cash payment equal to the COBRA
premium for such month, subject to applicable tax withholding (such amount, the &ldquo;<B><I>Special Severance Payment</I></B>&rdquo;),
such Special Severance Payment to be made without regard to the Executive&rsquo;s payment of COBRA premiums and without regard
to the expiration of the COBRA period prior to the end of the COBRA Payment Period.</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"><B>c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>The
Board will award you a $200,000 bonus for 2017, payable on the first regular payroll date which occurs at least eight (8) business
days following the &ldquo;Effective Date&rdquo; as defined below, provided the Company has received the executed Agreement from
you on or before that date and further provided that no severance payment will be made prior to the first payroll period of 2018.</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"><B>d.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>The
exercise period for your vested but unexercised equity interests will be extended to one (1) year following the Separation Date
or for the remaining term of the award(s), whichever is shorter.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Benefit
Plans.</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">If you are currently participating in the Company&rsquo;s
group health insurance plans, your participation as an employee will end on December 31, 2017. Thereafter, to the extent provided
by the federal COBRA law or, if applicable, state insurance laws, and by the Company&rsquo;s current group health insurance policies,
you will be eligible to continue your group health insurance benefits at your own expense, with the option for certain health continuation
coverage payments to be made by the Company as described in Section 3 above. Later, you may be able to convert to an individual
policy through the provider of the Company&rsquo;s health insurance, if you wish.</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">Your participation in Employer-Sponsored Group
Life Insurance and Short and Long Term Disability Insurance will cease as of December 31, 2017.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">December 5, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Page 3 of 10</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">Deductions for the 401(k) Plan will end with
your last regular paycheck. You will receive information by mail concerning 401(k) plan rollover procedures should you be a participant
in this program.</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"><B>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity
Interests.</B> Vesting of equity granted to you as an employee will cease as of the Separation Date. You have been issued options
to purchase an aggregate of 3,387,333 shares of the Company&rsquo;s common stock, of which options to purchase 2,438,832 shares
of common stock have vested as of the Separation Date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other
Compensation or Benefits.</B> You acknowledge that, except as expressly provided in this Agreement, you will not receive any additional
compensation, severance or benefits after the Separation Date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expense
Reimbursements.</B> You have been issued a Company credit card, the Company will cancel this card effective December 4, 2017. You
agree that, within ten (10) days of the Separation Date, you will submit your final documented expense reimbursement statement
reflecting all business expenses you incurred through the Separation Date, if any, for which you seek reimbursement. The Company
will reimburse you for reasonable business expenses pursuant to its regular business practice.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Return
of Company Property.</B> By the Separation Date, you agree to return to the Company all Company documents (and all copies thereof)
and other Company property that you have had in your possession at any time, including, but not limited to, Company files, notes,
drawings, records, business plans and forecasts, financial information, specifications, computer-recorded information, tangible
property (including, but not limited to, computers), credit cards, entry cards, identification badges and keys; and, any materials
of any kind that contain or embody any proprietary or confidential information of the Company (and all reproductions thereof).
Please coordinate return of Company property with Steven Shallcross, Chief Financial Officer. Notwithstanding anything to the contrary
contained herein, you may retain your lap top computer provided that you destroy all proprietary information of the Company contained
thereon. Receipt of the severance benefits described in Section&nbsp;3 of this Agreement is expressly conditioned upon return of
all Company Property.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Proprietary
Information and Post-Termination Obligations. Both during and after your employment you acknowledge your continuing obligations
under your Proprietary Information, Inventions Non-Solicitation and Non-Competition Agreement not to use or disclose any confidential
or proprietary information of the Company and to refrain from certain solicitation and competitive activities. A copy of your Proprietary
Information, Inventions Non-Solicitation and Non-Competition Agreement is attached hereto as Exhibit A. If you have any doubts
as to the scope of the restrictions in your agreement, you should contact Steven Shallcross immediately to assess your compliance.
As you know, the Company will enforce its contract rights. Please familiarize yourself with the enclosed agreement which you signed.
Confidential information that is also a &ldquo;trade secret,&rdquo; as defined by law, may be disclosed (A) if it is made (i) in
confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney and (ii) solely
for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed
in a lawsuit or other proceeding, if such filing is made under seal. In addition, in the event that you file a lawsuit for retaliation
by the Company for reporting a suspected violation of law, you may disclose the trade secret to your attorney and use the trade
secret information in the court proceeding, if you: (A) file any document containing the trade secret under seal; and (B) do not
disclose the trade secret, except pursuant to court order.</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">December 5, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Page 4 of 10</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"><B>10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Confidentiality.
</B>The provisions of this Agreement will be held in strictest confidence by you and the Company and will not be publicized or
disclosed in any manner whatsoever; provided, however, that: (a) you may disclose this Agreement to your immediate family; (b)
the parties may disclose this Agreement in confidence to their respective attorneys, accountants, auditors, tax preparers, and
financial advisors; (c) the Company may disclose this Agreement as necessary to fulfill standard or legally required corporate
reporting or disclosure requirements; and (d) the parties may disclose this Agreement insofar as such disclosure may be necessary
to enforce its terms or as otherwise required by law. In particular, and without limitation, you agree not to disclose the terms
of this Agreement to any current or former Company employee. Notwithstanding the foregoing, nothing in this Agreement shall limit
your right to voluntarily communicate with the Equal Employment Opportunity Commission, United States Department of Labor, the
National Labor Relations Board, the Securities and Exchange Commission, other federal government agency or similar state or local
agency or to discuss the terms and conditions of your employment with others to the extent expressly permitted by Section 7 of
the National Labor Relations Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-Disparagement.</B>
Both you and the Company agree not to disparage the other party, and the other party&rsquo;s officers, directors, employees, shareholders
and agents, in any manner likely to be harmful to them or their business, business reputation or personal reputation; provided
that both you and the Company will respond accurately and fully to any question, inquiry or request for information when required
by legal process. The Company&rsquo;s obligations under this Section are limited to Company representatives with knowledge of this
provision. Notwithstanding the foregoing, nothing in this Agreement shall limit your right to voluntarily communicate with the
Equal Employment Opportunity Commission, United States Department of Labor, the National Labor Relations Board, the Securities
and Exchange Commission, other federal government agency or similar state or local agency or to discuss the terms and conditions
of your employment with others to the extent expressly permitted by Section 7 of the National Labor Relations Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cooperation
after Termination.</B> During the time that you are receiving payments under this Agreement, you agree to cooperate fully with
the Company in all matters relating to the transition of your work and responsibilities on behalf of the Company, including, but
not limited to, any present, prior or subsequent relationships and the orderly transfer of any such work and institutional knowledge
to such other persons as may be designated by the Company, by making yourself reasonably available during regular business hours.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">December 5, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Page 5 of 10</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Release.
</B>In exchange for the payments and other consideration under this Agreement, to which you would not otherwise be entitled, and
except as otherwise set forth in this Agreement, you, on behalf of yourself and, to the extent permitted by law, on behalf of your
spouse, heirs, executors, administrators, assigns, insurers, attorneys and other persons or entities, acting or purporting to act
on your behalf (collectively, the &ldquo;Employee Parties&rdquo;), hereby generally and completely release, acquit and forever
discharge the Company, its parents and subsidiaries, and its and their officers, directors, managers, partners, agents, representatives,
employees, attorneys, shareholders, predecessors, successors, assigns, insurers and affiliates (the &ldquo;Company Parties&rdquo;)
of and from any and all claims, liabilities, demands, contentions, actions, causes of action, suits, costs, expenses, attorneys&rsquo;
fees, damages, indemnities, debts, judgments, levies, executions and obligations of every kind and nature, in law, equity, or otherwise,
both known and unknown, suspected and unsuspected, disclosed and undisclosed, arising out of or in any way related to agreements,
events, acts or conduct at any time prior to and including the execution date of this Agreement, including but not limited to:
all such claims and demands directly or indirectly arising out of or in any way connected with your employment with the Company
or the termination of that employment; claims or demands related to salary, bonuses, commissions, stock, stock options, or any
other ownership interests in the Company, vacation pay, fringe benefits, expense reimbursements, severance pay, or any other form
of compensation; claims pursuant to any federal, state or local law, statute, or cause of action; tort law; or contract law (individually
a &ldquo;Claim&rdquo; and collectively &ldquo;Claims&rdquo;). The Claims you are releasing and waiving in this Agreement include,
but are not limited to, any and all Claims that any of the Company Parties:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">has violated its personnel policies, handbooks, contracts of employment, or covenants of good faith
and fair dealing;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">has discriminated against you on the basis of age, race, color, sex (including sexual harassment),
national origin, ancestry, disability, religion, sexual orientation, marital status, parental status, source of income, entitlement
to benefits, any union activities or other protected category in violation of any local, state or federal law, constitution, ordinance,
or regulation, including but not limited to: the Age Discrimination in Employment Act, as amended (&ldquo;ADEA&rdquo;); Title VII
of the Civil Rights Act of 1964, as amended; the Civil Rights Act of 1991; 42 U.S.C. &sect;&nbsp;1981, as amended; the Equal Pay
Act; the Americans With Disabilities Act; the Genetic Information Nondiscrimination Act; the Family and Medical Leave Act; the
Idaho Human Rights Act; the Idaho Equal Pay Law; the Fair Employment Practice Act of Maryland, Md. Code Ann., State Government,
tit. 20<B>; </B>the Employee Retirement Income Security Act; the Employee Polygraph Protection Act; the Worker Adjustment and Retraining
Notification Act; the Older Workers Benefit Protection Act; the anti-retaliation provisions of the Sarbanes-Oxley Act, or any other
federal or state law regarding whistleblower retaliation; the Lilly Ledbetter Fair Pay Act; the Uniformed Services Employment and
Reemployment Rights Act; the Fair Credit Reporting Act; and the National Labor Relations Act;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">has violated any statute, public policy or common law (including but not limited to Claims for
retaliatory discharge; negligent hiring, retention or supervision; defamation; intentional or negligent infliction of emotional
distress and/or mental anguish; intentional interference with contract; negligence; detrimental reliance; loss of consortium to
you or any member of your family and/or promissory estoppel).</TD></TR></TABLE>

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


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    <!-- Field: /Page -->

<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">Jeffrey Riley</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">December 5, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Page 6 of 10</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">Notwithstanding the foregoing, other than events
expressly contemplated by this Agreement you do not waive or release rights or Claims that may arise from events that occur after
the date this waiver is executed and you are not releasing any right of indemnification you may have for any liabilities arising
from your actions within the course and scope of your employment with the Company or within the course and scope of your role as
a member of the Board of Directors and/or officer of the Company. Also excluded from this Agreement are any Claims which cannot
be waived by law, including, without limitation, any rights you may have under applicable workers&rsquo; compensation laws and
your right, if applicable, to file or participate in an investigative proceeding of any federal, state or local governmental agency.
Nothing in this Agreement shall prevent you from filing, cooperating with, or participating in any proceeding or investigation
before the Equal Employment Opportunity Commission, United States Department of Labor, the National Labor Relations Board, the
Occupational Safety and Health Administration, the Securities and Exchange Commission or any other federal government agency, or
similar state or local agency (&ldquo;Government Agencies&rdquo;), or exercising any rights pursuant to Section 7 of the National
Labor Relations Act. You further understand this Agreement does not limit your ability to voluntarily communicate with any Government
Agencies or otherwise participate in any investigation or proceeding that may be conducted by any Government Agency, including
providing documents or other information, without notice to the Company. While this Agreement does not limit your right to receive
an award for information provided to the Securities and Exchange Commission, you understand and agree that, you are otherwise waiving,
to the fullest extent permitted by law, any and all rights you may have to individual relief based on any Claims that you have
released and any rights you have waived by signing this Agreement. If any Claim is not subject to release, to the extent permitted
by law, you waive any right or ability to be a class or collective action representative or to otherwise participate in any putative
or certified class, collective or multi-party action or proceeding based on such a Claim in which any of the Company Parties is
a party. This Agreement does not abrogate your existing rights under any Company benefit plan or any plan or agreement related
to equity ownership in the Company; however, it does waive, release and forever discharge Claims existing as of the date you execute
this Agreement pursuant to any such plan or agreement.</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">Jeffrey Riley</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">December 5, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Page 7 of 10</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"><B>14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Your
Acknowledgments and Affirmations/ Effective Date of Agreement. </B>You acknowledge that you are knowingly and voluntarily waiving
and releasing any and all rights you may have under the ADEA, as amended. You also acknowledge and agree that (i) the consideration
given to you in exchange for the waiver and release in this Agreement is in addition to anything of value to which you were already
entitled, and (ii) that you have been paid for all time worked, have received all the leave, leaves of absence and leave benefits
and protections for which you are eligible, and have not suffered any on-the-job injury for which you have not already filed a
Claim. You affirm that all of the decisions of the Company Parties regarding your pay and benefits through the date of your execution
of this Agreement were not discriminatory based on age, disability, race, color, sex, religion, national origin or any other classification
protected by law. You affirm that you have not filed or caused to be filed, and are not presently a party to, a Claim against any
of the Company Parties. You further affirm that you have no known workplace injuries or occupational diseases. You acknowledge
and affirm that you have not been retaliated against for reporting any allegation of corporate fraud or other wrongdoing by any
of the Company Parties, or for exercising any rights protected by law, including any rights protected by the Fair Labor Standards
Act, the Family Medical Leave Act or any related statute or local leave or disability accommodation laws, or any applicable state
workers&rsquo; compensation law. You further acknowledge and affirm that you have been advised by this writing that: (a) your waiver
and release do not apply to any rights or Claims that may arise after the execution date of this Agreement; (b) you have been advised
hereby that you have the right to consult with an attorney prior to executing this Agreement; (c) you have been given twenty-one
(21) days to consider this Agreement (although you may choose to voluntarily execute this Agreement earlier and if you do you will
sign the Consideration Period waiver below); (d) you have seven (7) days following your execution of this Agreement to revoke this
Agreement; and (e) this Agreement shall not be effective until the date upon which the revocation period has expired unexercised
(the &quot;Effective Date&quot;), which shall be the eighth day after this Agreement is executed by you.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
Admission. </B>This Agreement does not constitute an admission by the Company of any wrongful action or violation of any federal,
state, or local statute, or common law rights, including those relating to the provisions of any law or statute concerning employment
actions, or of any other possible or claimed violation of law or rights.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Breach.</B>
You agree that upon any breach of this Agreement you will forfeit all amounts paid or owing to you under this Agreement. Further,
you acknowledge that it may be impossible to assess the damages caused by your violation of the terms of Sections 8, 9, 10 and
11 of this Agreement and further agree that any threatened or actual violation or breach of those Sections of this Agreement will
constitute immediate and irreparable injury to the Company. You therefore agree that any such breach of this Agreement is a material
breach of this Agreement, and, in addition to any and all other damages and remedies available to the Company upon your breach
of this Agreement, the Company shall be entitled to an injunction to prevent you from violating or breaching this Agreement. You
agree that if the Company is successful in whole or part in any legal or equitable action against you under this Agreement, you
agree to pay all of the costs, including reasonable attorneys&rsquo; fees, incurred by the Company in enforcing the terms of this
Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous.</B>
This Agreement including Exhibit A, constitutes the complete, final and exclusive embodiment of the entire agreement between you
and the Company with regard to this subject matter. It is entered into without reliance on any promise or representation, written
or oral, other than those expressly contained herein, and it supersedes any other such promises, warranties or representations.
This Agreement may not be modified or amended except in a writing signed by both you and a duly authorized officer of the Company.
This Agreement will bind the heirs, personal representatives, successors and assigns of both you and the Company, and inure to
the benefit of both you and the Company, their heirs, successors and assigns. If any provision of this Agreement is determined
to be invalid or unenforceable, in whole or in part, this determination will not affect any other provision of this Agreement and
the provision in question will be modified by the court so as to be rendered enforceable. This Agreement will be deemed to have
been entered into and will be construed and enforced in accordance with the laws of the State of Maryland as applied to contracts
made and to be performed entirely within Maryland.</P>

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


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<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">Jeffrey Riley</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">December 5, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Page 8 of 10</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">If this Agreement is acceptable
to you, please sign below and return the original to me on or before December 26, 2017.</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">I wish you good luck in your future endeavors.</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">Sincerely,</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-variant: small-caps"><B>SYNTHETIC
BIOLOGICS, INC.</B></FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; text-align: justify; padding-bottom: 1pt">By:</TD>
    <TD STYLE="width: 45%; text-align: justify; border-bottom: Black 1pt solid">/s/ Steven A. Shallcross</TD>
    <TD STYLE="width: 50%; text-align: justify; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Steven A. Shallcross</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Chief Financial Officer</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: left"><FONT STYLE="font-variant: small-caps">Agreed to and Accepted:</FONT></TD>
    <TD STYLE="width: 50%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">/s/ Jeffrey Riley</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">Jeffrey Riley</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">CONSIDERATION PERIOD</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">I, Jeffrey Riley, understand that I have the
right to take at least 21 days to consider whether to sign this Agreement, which I received on December 5, 2017. If I elect to
sign this Agreement before 21 days have passed, I understand I am to sign and date below this paragraph to confirm that I knowingly
and voluntarily agree to waive the 21-day consideration period.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: left"><FONT STYLE="font-variant: small-caps"><B>Agreed:</B></FONT></TD>
    <TD STYLE="width: 50%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">/s/ Jeffrey Riley</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">Signature</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">December 5, 2017</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">Date</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Proprietary Information, Inventions Non-Solicitation
and Non-Competition Agreement</B></P>

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



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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EMPLOYEE CONFIDENTIAL INFORMATION AND INVENTION
ASSIGNMENT AGREEMENT</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In consideration of my
employment or continued employment by Synthetic Biologics, Inc., its subsidiaries, parents, affiliates, successors and assigns
(together <B>&ldquo;Company&rdquo;</B>), and the compensation paid to me now and during my employment with Company, I hereby enter
into this Employee Confidential Information and Invention Assignment Agreement (the <B>&ldquo;Agreement&rdquo;</B>) and agree as
follows:</P>

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<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.3in; text-align: left"><FONT STYLE="text-transform: uppercase"><B>1.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; font-variant: small-caps"><B>Confidential
Information Protections</B></FONT><B><FONT STYLE="font-size: 10pt; text-transform: uppercase">.</FONT></B></TD>
</TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>1.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-size: 10pt">Recognition
of Company&rsquo;s Rights; Nondisclosure.</FONT></B><FONT STYLE="font-size: 10pt"> I understand and acknowledge that my employment
by Company creates a relationship of confidence and trust with respect to Company&rsquo;s Confidential Information (as defined
below) and that Company has a protectable interest therein. At all times during and after my employment, I will hold in confidence
and will not disclose, use, lecture upon, or publish any of Company&rsquo;s Confidential Information, except as such disclosure,
use or publication may be required in connection with my work for Company, or unless an officer of Company expressly authorizes
such disclosure. I will obtain Company&rsquo;s written approval before publishing or submitting for publication any material (written,
oral, or otherwise) that discloses and/or incorporates any Confidential Information. I hereby assign to Company any rights I may
have or acquire in such Confidential Information and recognize that all Confidential Information shall be the sole and exclusive
property of Company and its assigns. I will take all reasonable precautions to prevent the inadvertent accidental disclosure of
Confidential Information. Notwithstanding the foregoing, pursuant to 18 U.S.C. Section 1833(b), I shall not be held criminally
or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that: (1) is made in confidence
to a Federal, State, or local government official, either directly or indirectly, or to an attorney, and solely for the purpose
of reporting or investigating a suspected violation of law; or (2) is made in a complaint or other document filed in a lawsuit
or other proceeding, if such filing is made under seal.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-size: 10pt">Confidential
Information.</FONT></B><FONT STYLE="font-size: 10pt"> The term <B>&ldquo;Confidential Information&rdquo;</B> shall mean any and
all confidential knowledge, data or information of Company. By way of illustration but not limitation, <B>&ldquo;Confidential Information&rdquo;</B>
includes (a)&nbsp;trade secrets, inventions, mask works, ideas, processes, formulas, software in source or object code versions,
data, programs, other works of authorship, know-how, improvements, discoveries, developments, designs and techniques and any other
proprietary technology and all Intellectual Property Rights therein (collectively, <B>&ldquo;Inventions&rdquo;</B>); (b)&nbsp;information
regarding research, development, new products, marketing and selling, business plans, budgets and unpublished financial statements,
licenses, prices and costs, margins, discounts, credit terms, pricing and billing policies, quoting procedures, methods of obtaining
business, forecasts, future plans and potential strategies, financial projections and business strategies, operational plans, financing
and capital-raising plans, activities and agreements, internal services and operational manuals, methods of conducting Company
business, suppliers and supplier information, and purchasing; (c) information regarding customers and potential customers of Company,
including customer lists, names, representatives, their needs or desires with respect to the types of products or services offered
by Company, proposals, bids, contracts and their contents and parties, the type and quantity of products and services provided
or sought to be provided to customers and potential customers of Company and other non-public information relating to customers
and potential Customers; (d) information regarding any of Company&rsquo;s business partners and their services, including names;
representatives, proposals, bids, contracts and their contents and parties, the type and quantity of products and services received
by Company, and other non-public information relating to business partners; (e) information regarding personnel, employee lists,
compensation, and employee skills; and (f) any other non-public information which a competitor of Company could use to the competitive
disadvantage of Company. Notwithstanding the foregoing, it is understood that, at all such times, I am free to use information
which was known to me prior to employment with Company or which is generally known in the trade or industry through no breach of
this Agreement or other act or omission by me, and I am free to discuss the terms and conditions of my employment with others to
the extent expressly permitted by Section 7 of the National Labor Relations Act.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>1.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-size: 10pt">Third
Party Information. </FONT></B><FONT STYLE="font-size: 10pt">I understand, in addition, that Company has received and in the future
will receive from third parties their confidential and/or proprietary knowledge, data or information (<B>&ldquo;Third Party Information&rdquo;</B>)
subject to a duty on Company&rsquo;s part to maintain the confidentiality of such information and to use it only for certain limited
purposes. During my employment and thereafter, I will hold Third Party Information in confidence and will not disclose to anyone
(other than Company personnel who need to know such information in connection with their work for Company) or use, except in connection
with my work for Company, Third Party Information unless expressly authorized by an officer of Company in writing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>1.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-size: 10pt">Term
of Nondisclosure Restrictions.</FONT></B><FONT STYLE="font-size: 10pt"> I understand that Confidential Information and Third Party
Information is never to be used or disclosed by me, as provided in this Section 1. If a temporal limitation on my obligation not
to use or disclose such information is required under applicable law, and the Agreement or its restriction(s) cannot otherwise
be enforced, I agree and Company agrees that the two (2) year period after the date my employment ends will be the temporal limitation
relevant to the contested restriction, provided, however, that this sentence will not apply to trade secrets protected without
temporal limitation under applicable law. </FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>1.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-size: 10pt">No
Improper Use of Information of Prior Employers and Others.</FONT></B><FONT STYLE="font-size: 10pt"> During my employment by Company,
I will not improperly use or disclose confidential information or trade secrets, if any, of any former employer or any other person
to whom I have an obligation of confidentiality, and I will not bring onto the premises of Company any unpublished documents or
any property belonging to any former employer or any other person to whom I have an obligation of confidentiality unless consented
to in writing by that former employer or person. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-variant: small-caps; text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.3in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps; text-transform: uppercase"><B>2.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; font-variant: small-caps"><B>Assignments
of Inventions.</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-size: 10pt">Definitions.
</FONT></B><FONT STYLE="font-size: 10pt">As used in this Agreement, the term <B>&ldquo;Intellectual Property Rights&rdquo;</B>
means all trade secrets, Copyrights, trademarks, mask work rights, patents and other intellectual property rights recognized by
the laws of any jurisdiction or country; the term <B>&ldquo;Copyright&rdquo;</B> means <FONT STYLE="font-family: Times New Roman, Times, Serif">the
exclusive legal right to reproduce, perform, display, distribute and make derivative works of a work of authorship (as a literary,
musical, or artistic work) recognized by the laws of any jurisdiction or country;</FONT> and the term <B>&ldquo;Moral Rights&rdquo;</B>
means all paternity, integrity, disclosure, withdrawal, special and any other similar rights recognized by the laws of any jurisdiction
or country.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>2.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-size: 10pt">Excluded
Inventions and Other Inventions.</FONT></B><FONT STYLE="font-size: 10pt"> Attached hereto as <B>Exhibit&nbsp;A</B> is a list describing
all existing Inventions, if any, that may relate to Company&rsquo;s business or actual or demonstrably anticipated research or
development and that were made by me or acquired by me prior to the commencement of my employment with, and which are not to be
assigned to, Company (<B>&ldquo;Excluded Inventions&rdquo;</B>). If no such list is attached, I represent and agree that it is
because I have no rights in any existing Inventions that may relate to Company&rsquo;s business or actual or demonstrably anticipated
research or development. For purposes of this Agreement, <B>&ldquo;Other Inventions&rdquo;</B> means Inventions in which I have
or may have an interest, as of the commencement of my employment or thereafter, other than Company Inventions (defined below) and
Excluded Inventions. I acknowledge and agree that if I use any Excluded Inventions or any Other Inventions in the scope of my employment,
or if I include any Excluded Inventions or Other Inventions in any product or service of Company, or if my rights in any Excluded
Inventions or Other Inventions may block or interfere with, or may otherwise be required for, the exercise by Company of any rights
assigned to Company under this Agreement, I will immediately so notify Company in writing. Unless Company and I agree otherwise
in writing as to particular Excluded Inventions or Other Inventions, I hereby grant to Company, in such circumstances (whether
or not I give Company notice as required above), a non-exclusive, perpetual, transferable, fully-paid and royalty-free, irrevocable
and worldwide license, with rights to sublicense through multiple levels of sublicensees, to reproduce, make derivative works of,
distribute, publicly perform, and publicly display in any form or medium, whether now known or later developed, make, have made,
use, sell, import, offer for sale, and exercise any and all present or future rights in, such Excluded Inventions and Other Inventions.
To the extent that any third parties have rights in any such Other Inventions, I hereby represent and warrant that such third party
or parties have validly and irrevocably granted to me the right to grant the license stated above. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>2.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-size: 10pt">Assignment
of Company Inventions.</FONT></B><FONT STYLE="font-size: 10pt"> Inventions assigned to Company, or to a third party as directed
by Company pursuant to Section 2.6, are referred to in this Agreement as <B>&ldquo;Company Inventions</B>.<B>&rdquo;</B> Subject
to Section 2.4 (Unassigned or Nonassignable Inventions) and except for Excluded Inventions set forth in <B>Exhibit A</B> and Other
Inventions, I hereby assign to Company all my right, title, and interest in and to any and all Inventions (and all Intellectual
Property Rights with respect thereto) made, conceived, reduced to practice, or learned by me, either alone or with others, during
the period of my employment by Company. To the extent required by applicable Copyright laws, I agree to assign in the future (when
any copyrightable Inventions are first fixed in a tangible medium of expression) my Copyright rights in and to such Inventions.
Any assignment of Company Inventions (and all Intellectual Property Rights with respect thereto) hereunder includes an assignment
of all Moral Rights. To the extent such Moral Rights cannot be assigned to Company and to the extent the following is allowed by
the laws in any country where Moral Rights exist, I hereby unconditionally and irrevocably waive the enforcement of such Moral
Rights, and all claims and causes of action of any kind against Company or related to Company&rsquo;s customers, with respect to
such rights. I further acknowledge and agree that neither my successors-in-interest nor legal heirs retain any Moral Rights in
any Company Inventions (and any Intellectual Property Rights with respect thereto).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>2.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-size: 10pt">Unassigned
or Nonassignable Inventions.</FONT></B><FONT STYLE="font-size: 10pt"> I recognize that this Agreement will not be deemed to require
assignment of any Invention that I developed entirely on my own time without using Company&rsquo;s equipment, supplies, facilities,
trade secrets or Confidential Information, except for those Inventions that either (i) relate to Company&rsquo;s actual or anticipated
business, research or development, or (ii) result from or are connected with work performed by me for Company. In addition, this
Agreement does not apply to any Invention which qualifies fully for protection from assignment to Company under any specifically
applicable state law, regulation, rule or public policy (<B>&ldquo;Specific Inventions Law&rdquo;</B>). </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>2.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-size: 10pt">Obligation
to Keep Company Informed.</FONT></B><FONT STYLE="font-size: 10pt"> During the period of my employment and for one (1) year after
termination of my employment, I will promptly and fully disclose to Company in writing all Inventions authored, conceived, or reduced
to practice by me, either alone or jointly with others. In addition, I will promptly disclose to Company all patent applications
filed by me or on my behalf within one (1) year after termination of employment. At the time of each such disclosure, I will advise
Company in writing of any Inventions that I believe fully qualify for protection under the provisions of any applicable Specific
Inventions Law; and I will at that time provide to Company in writing all evidence necessary to substantiate that belief. Company
will keep in confidence and will not use for any purpose or disclose to third parties without my consent any confidential information
disclosed in writing to Company pursuant to this Agreement relating to Inventions that qualify fully for protection under a Specific
Inventions Law. I will preserve the confidentiality of any Invention that does not fully qualify for protection under a Specific
Inventions Law. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>2.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-size: 10pt">Government
or Third Party. </FONT></B><FONT STYLE="font-size: 10pt"> I agree that, as directed by Company, I will assign to a third party,
including without limitation the United States, all my right, title, and interest in and to any particular Company Invention. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>2.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-size: 10pt">Ownership
of Work Product.</FONT></B><FONT STYLE="font-size: 10pt"> I agree that Company will exclusively own all work product that is made
by me (solely or jointly with others) within the scope of my employment, and I hereby irrevocably and unconditionally assign to
Company all right, title, and interest worldwide in and to such work product. I acknowledge that all original works of authorship
which are made by me (solely or jointly with others) within the scope of my employment and which are protectable by Copyright are
&ldquo;works made for hire,&rdquo; pursuant to United States Copyright Act (17 U.S.C., Section 101). I understand and agree that
I have no right to publish on, submit for publishing, or use for any publication any work product protected by this Section, except
as necessary to perform services for Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>2.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-size: 10pt">Enforcement
of Intellectual Property Rights and Assistance.</FONT></B><FONT STYLE="font-size: 10pt"> I will assist Company in every proper
way to obtain, and from time to time enforce, United States and foreign Intellectual Property Rights and Moral Rights relating
to Company Inventions in any and all countries. To that end I will execute, verify and deliver such documents and perform such
other acts (including appearances as a witness) as Company may reasonably request for use in applying for, obtaining, perfecting,
evidencing, sustaining and enforcing such Intellectual Property Rights and the assignment thereof. In addition, I will execute,
verify and deliver assignments of such Intellectual Property Rights to Company or its designee, including the United States or
any third party designated by Company. My obligation to assist Company with respect to Intellectual Property Rights relating to
such Company Inventions in any and all countries will continue beyond the termination of my employment, but Company will compensate
me at a reasonable rate after my termination for the time actually spent by me at Company's request on such assistance. In the
event Company is unable for any reason, after reasonable effort, to secure my signature on any document needed in connection with
the actions specified in this paragraph, I hereby irrevocably designate and appoint Company and its duly authorized officers and
agents as my agent and attorney in fact, which appointment is coupled with an interest, to act for and in my behalf to execute,
verify and file any such documents and to do all other lawfully permitted acts to further the purposes of the preceding paragraph
with the same legal force and effect as if executed by me. I hereby waive and quitclaim to Company any and all claims, of any nature
whatsoever, which I now or may hereafter have for infringement of any Intellectual Property Rights assigned under this Agreement
to Company. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>2.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-size: 10pt">Incorporation
of Software Code.</FONT></B><FONT STYLE="font-size: 10pt"> I agree that I will not incorporate into any Company software or otherwise
deliver to Company any software code licensed under the GNU General Public License or Lesser General Public License or any other
license that, by its terms, requires or conditions the use or distribution of such code on the disclosure, licensing, or distribution
of any source code owned or licensed by Company except in strict compliance with Company&rsquo;s policies regarding the use of
such software.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-size: 10pt; font-variant: small-caps">Records.</FONT></B>
<FONT STYLE="font-size: 10pt">I agree to keep and maintain adequate and current records (in the form of notes, sketches, drawings
and in any other form that is required by Company) of all Confidential Information developed by me and all Company Inventions made
by me during the period of my employment at Company, which records will be available to and remain the sole property of Company
at all times.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-size: 10pt; font-variant: small-caps">Duty
of Loyalty During Employment.</FONT></B> <FONT STYLE="font-size: 10pt">I agree that during the period of my employment by Company
I will not, without Company's express written consent, directly or indirectly engage in any employment or business activity which
is directly or indirectly competitive with, or would otherwise conflict with, my employment by Company.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-size: 10pt; font-variant: small-caps">No
Solicitation of Employees, Consultants, Contractors, or Customers or Potential Customers. </FONT></B><FONT STYLE="font-size: 10pt; font-variant: small-caps">I
</FONT><FONT STYLE="font-size: 10pt">agree that during the period of my employment and for the one (1) year period after the date
my employment ends for any reason, including but not limited to voluntary termination by me or involuntary termination by Company,
I will not, as an officer, director, employee, consultant, owner, partner, or in any other capacity, either directly or through
others, except on behalf of Company:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>5.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-size: 10pt">solicit,
induce, encourage, or participate in soliciting, inducing or encouraging any person known to me to be an employee, consultant,
or independent contractor of Company to terminate his or her relationship with Company, even if I did not initiate the discussion
or seek out the contact;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>5.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-size: 10pt">solicit,
induce, encourage, or participate in soliciting, inducing, or encouraging any person known to me to be an employee, consultant,
or independent contractor of Company to terminate his or her relationship with Company to render services to me or any other person
or entity that researches, develops, markets, sells, performs or provides or is preparing to develop, market, sell, perform or
provide Conflicting Services (as defined in Section 6 below);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>5.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-size: 10pt">hire,
employ, or engage in a business venture with as partners or owners or other joint capacity, or attempt to hire, employ, or engage
in a business venture as partners or owners or other joint capacity, with any person then employed by Company or who has left the
employment of Company within the preceding three (3) months to research, develop, market, sell, perform or provide Conflicting
Services;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>5.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-size: 10pt">solicit,
induce or attempt to induce any Customer or Potential Customer (as defined below), to terminate, diminish, or materially alter
in a manner harmful to Company its relationship with Company; </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>5.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-size: 10pt">solicit
or assist in the solicitation of any Customer or Potential Customer to induce or attempt to induce such Customer or Potential Customer
to purchase or contract for any Conflicting Services; or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>5.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-size: 10pt">perform,
provide or attempt to perform or provide any Conflicting Services for a Customer or Potential Customer.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">The parties agree that for
purposes of this Agreement, a <B>&ldquo;Customer or Potential Customer&rdquo;</B> is any person or entity who or which, at any
time during the one (1) year period prior to my contact with such person or entity as described in Sections 5.4-5.6 above if such
contact occurs during my employment or, if such contact occurs following the termination of my employment, during the one (1) year
period prior to the date my employment with Company ends: (i) contracted for, was billed for, or received from Company any product,
service or process with which I worked directly or indirectly during my employment by Company or about which I acquired Confidential
Information; or (ii) was in contact with me or in contact with any other employee, owner, or agent of Company, of which contact
I was or should have been aware, concerning the sale or purchase of, or contract for, any product, service or process with which
I worked directly or indirectly during my employment with Company or about which I acquired Confidential Information; or (iii)
was solicited by Company in an effort in which I was involved or of which I was aware.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-size: 10pt; font-variant: small-caps">Non-Compete
Provision. </FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>6.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-size: 10pt">I
agree that for the one (1) year period after the date my employment ends for any reason, including but not limited to voluntary
termination by me or involuntary termination by Company, I will not, directly or indirectly, as an officer, director, employee,
consultant, owner, partner, or in any other capacity solicit, perform, or provide, or attempt to perform or provide Conflicting
Services (defined below) anywhere in the Restricted Territory (defined below), nor will I assist another person to solicit, perform
or provide or attempt to perform or provide Conflicting Services anywhere in the Restricted Territory<B>. </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>6.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-size: 10pt">The
parties agree that for purposes of this Agreement, <B>&ldquo;Conflicting Services&rdquo;</B> means any product, service, or process
or the research and development thereof, of any person or organization other than Company that directly competes with a product,
service, or process, including the research and development thereof, of Company with which I worked directly or indirectly during
my employment by Company or about which I acquired Confidential Information during my employment by Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>6.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-size: 10pt">The
parties agree that for purposes of this Agreement, <B>&ldquo;Restricted Territory&rdquo;</B> means the fifty (50)&nbsp; mile radius
of any of the following locations: (i) any Company business location at which I have worked on a regular or occasional basis during
the preceding year; (ii) my home if I work from home on a regular or occasional basis; (iii) any potential business location of
Company under active consideration by Company to which I have traveled in connection with the consideration of that location; (iv)
the primary business location of a Customer or Potential Customer; or (v) any business location of a Customer or Potential Customer
where representatives of the Customer or Potential Customer with whom I have been in contact in the preceding year are based. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-variant: small-caps; text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-variant: small-caps; text-transform: uppercase"><B></B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-variant: small-caps; text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-variant: small-caps; text-transform: uppercase"><B>7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-size: 10pt; font-variant: small-caps">Reasonableness
of Restrictions.</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>7.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-size: 10pt">I
agree that I have read this entire Agreement and understand it. I agree that this Agreement does not prevent me from earning a
living or pursuing my career. I agree that the restrictions contained in this Agreement are reasonable, proper, and necessitated
by Company&rsquo;s legitimate business interests. I represent and agree that I am entering into this Agreement freely and with
knowledge of its contents with the intent to be bound by the Agreement and the restrictions contained in it.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>7.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-size: 10pt">In
the event that a court finds this Agreement, or any of its restrictions, to be ambiguous, unenforceable, or invalid, Company and
I agree that the court will read the Agreement as a whole and interpret the restriction(s) at issue to be enforceable and valid
to the maximum extent allowed by law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>7.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-size: 10pt">If
the court declines to enforce this Agreement in the manner provided in subsection 7.2, Company and I agree that this Agreement
will be automatically modified to provide Company with the maximum protection of its business interests allowed by law and I agree
to be bound by this Agreement as modified.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>7.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-size: 10pt">Furthermore,
the parties agree that the market for Company&rsquo;s products is worldwide. If, however, after applying the provisions of subsections
7.2 and 7.3, a court still decides that this Agreement or any of its restrictions is unenforceable for lack of reasonable geographic
limitation and the Agreement or restriction(s) cannot otherwise be enforced, the parties hereby agree that the fifty (50<B>)</B>
mile radius from any location at which I worked for Company on either a regular or occasional basis during the one (1) year immediately
preceding termination of my employment with Company shall be the geographic limitation relevant to the contested restriction. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-size: 10pt; font-variant: small-caps">No
Conflicting Agreement or Obligation.</FONT></B> <FONT STYLE="font-size: 10pt">I represent that my performance of all the terms
of this Agreement and as an employee of Company does not and will not breach any agreement to keep in confidence information acquired
by me in confidence or in trust prior to my employment by Company. I have not entered into, and I agree I will not enter into,
any agreement either written or oral in conflict with this Agreement.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-size: 10pt; font-variant: small-caps">Return
Of Company Property. </FONT></B> <FONT STYLE="font-size: 10pt">When I leave the employ of Company, I will deliver to Company any
and all drawings, notes, memoranda, specifications, devices, formulas and documents, together with all copies thereof, and any
other material containing or disclosing any Company Inventions, Third Party Information or Confidential Information of Company.
I agree that I will not copy, delete, or alter any information contained upon my Company computer or Company equipment before I
return it to Company. In addition, if I have used any personal computer, server, or e-mail system to receive, store, review, prepare
or transmit any Company information, including but not limited to, Confidential Information, I agree to provide Company with a
computer-useable copy of all such Confidential Information and then permanently delete and expunge such Confidential Information
from those systems; and I agree to provide Company access to my system as reasonably requested to verify that the necessary copying
and/or deletion is completed. I further agree that any property situated on Company&rsquo;s premises and owned by Company, including
disks and other storage media, filing cabinets or other work areas, is subject to inspection by Company&rsquo;s personnel at any
time with or without notice. Prior to leaving, I will cooperate with Company in attending an exit interview and completing and
signing Company&rsquo;s termination statement if required to do so by Company. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-variant: small-caps; text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps; text-transform: uppercase"><B>10.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps">Legal
and Equitable Remedies</FONT></B><B><FONT STYLE="font-size: 10pt; font-variant: small-caps">.</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps"><B>10.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-size: 10pt">I
agree that it may be impossible to assess the damages caused by my violation of this Agreement or any of its terms. I agree that
any threatened or actual violation of this Agreement or any of its terms will constitute immediate and irreparable injury to Company,
and Company will have the right to enforce this Agreement and any of its provisions by injunction, specific performance or other
equitable relief, without bond and without prejudice to any other rights and remedies that Company may have for a breach or threatened
breach of this Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>10.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-size: 10pt">I
agree that if Company is successful in whole or in part in any legal or equitable action against me under this Agreement, Company
will be entitled to payment of all costs, including reasonable attorney&rsquo;s fees, from me. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>10.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-size: 10pt">In
the event Company enforces this Agreement through a court order, I agree that the restrictions of Sections 5 and 6 will remain
in effect for a period of twelve (12) months from the effective date of the Order enforcing the Agreement. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><B>11.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-size: 10pt; font-variant: small-caps">Notices.</FONT></B>
<FONT STYLE="font-size: 10pt">Any notices required or permitted under this Agreement will be given to Company at its headquarters
location at the time notice is given, labeled &ldquo;Attention Chief Executive Officer,&rdquo; and to me at my address as listed
on Company payroll, or at such other address as Company or I may designate by written notice to the other. Notice will be effective
upon receipt or refusal of delivery. If delivered by certified or registered mail, notice will be considered to have been given
five (5) business days after it was mailed, as evidenced by the postmark. If delivered by courier or express mail service, notice
will be considered to have been given on the delivery date reflected by the courier or express mail service receipt.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-variant: small-caps; text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-variant: small-caps; text-transform: uppercase"><B>12.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-size: 10pt; font-variant: small-caps">Publication
of This Agreement to Subsequent Employer or Business Associates of Employee.</FONT></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">If I am offered employment
or the opportunity to enter into any business venture as owner, partner, consultant or other capacity while the restrictions described
in Sections 5 [and 6] of this Agreement are in effect I agree to inform my potential employer, partner, co-owner and/or others
involved in managing the business with which I have an opportunity to be associated of my obligations under this Agreement and
also agree to provide such person or persons with a copy of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>12.1&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-size: 10pt">I
agree to inform Company of all employment and business ventures which I enter into while the restrictions described in Sections
5 and 6 of this Agreement are in effect and I also authorize Company to provide copies of this Agreement to my employer, partner,
co-owner and/or others involved in managing the business with which I am employed or associated and to make such persons aware
of my obligations under this Agreement. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-variant: small-caps; text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps; text-transform: uppercase"><B>13.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-size: 10pt; font-variant: small-caps">General
Provisions.</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>13.1&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-size: 10pt">Governing
Law; Consent to Personal Jurisdiction.</FONT></B><FONT STYLE="font-size: 10pt"> This Agreement will be governed by and construed
according to the laws of the State of Maryland as such laws are applied to agreements entered into and to be performed entirely
within Maryland between Maryland residents. I hereby expressly consent to the personal jurisdiction and venue of the state and
federal courts located in Rockville, Maryland for any lawsuit filed there against me by Company arising from or related to this
Agreement. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>13.2&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-size: 10pt">Severability.</FONT></B><FONT STYLE="font-size: 10pt">
In case any one or more of the provisions, subsections, or sentences contained in this Agreement will, for any reason, be held
to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability will not affect the other
provisions of this Agreement, and this Agreement will be construed as if such invalid, illegal or unenforceable provision had never
been contained in this Agreement. If moreover, any one or more of the provisions contained in this Agreement will for any reason
be held to be excessively broad as to duration, geographical scope, activity or subject, it will be construed by limiting and reducing
it, so as to be enforceable to the extent compatible with the applicable law as it will then appear.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>13.3&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-size: 10pt">Successors
and Assigns.</FONT></B><FONT STYLE="font-size: 10pt"> This Agreement is for my benefit and the benefit of Company, its successors,
assigns, parent corporations, subsidiaries, affiliates, and purchasers, and will be binding upon my heirs, executors, administrators
and other legal representatives.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>13.4&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-size: 10pt">Survival.</FONT></B><FONT STYLE="font-size: 10pt">
This Agreement shall survive the termination of my employment, regardless of the reason, and the assignment of this Agreement by
Company to any successor in interest or other assignee.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>13.5&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-size: 10pt">Employment
At-Will.</FONT></B><FONT STYLE="font-size: 10pt"> I agree and understand that nothing in this Agreement will change my at-will
employment status or confer any right with respect to continuation of employment by Company, nor will it interfere in any way with
my right or Company's right to terminate my employment at any time, with or without cause or advance notice.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>13.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-size: 10pt">Waiver.</FONT></B><FONT STYLE="font-size: 10pt">
No waiver by Company of any breach of this Agreement will be a waiver of any preceding or succeeding breach. No waiver by Company
of any right under this Agreement will be construed as a waiver of any other right. Company will not be required to give notice
to enforce strict adherence to all terms of this Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>13.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-size: 10pt">Export.</FONT></B><FONT STYLE="font-size: 10pt">
I agree not to export, reexport, or transfer, directly or indirectly, any U.S. technical data acquired from Company or any products
utilizing such data, in violation of the United States export laws or regulations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>13.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-size: 10pt">Advice
of Counsel. I ACKNOWLEDGE THAT, IN EXECUTING THIS AGREEMENT, I HAVE HAD THE OPPORTUNITY TO SEEK THE ADVICE OF INDEPENDENT LEGAL
COUNSEL, AND I HAVE READ AND UNDERSTOOD ALL OF THE TERMS AND PROVISIONS OF THIS AGREEMENT. THIS AGREEMENT WILL NOT BE CONSTRUED
AGAINST ANY PARTY BY REASON OF THE DRAFTING OR PREPARATION OF THIS AGREEMENT.</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.3in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>13.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><FONT STYLE="font-size: 10pt">Entire
Agreement.</FONT></B><FONT STYLE="font-size: 10pt"> The obligations pursuant to Sections 1 and 2 (except Subsection 2.4) of this
Agreement will apply to any time during which I was previously engaged, or am in the future engaged, by Company as a consultant
if no other agreement governs nondisclosure and assignment of inventions during such period. This Agreement is the final, complete
and exclusive agreement of the parties with respect to the subject matter of this Agreement and supersedes and merges all prior
discussions between us<B>; provided, however, prior to the execution of this Agreement, if Company and I were parties to any agreement
regarding the subject matter hereof, that agreement will be superseded by this Agreement prospectively only</B>. No modification
of or amendment to this Agreement, will be effective unless in writing and signed by the party to be charged. Any subsequent change
or changes in my duties, salary or compensation will not affect the validity or scope of this Agreement. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">[signatures to follow on next page]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</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; text-align: justify; text-indent: 0.5in">This Agreement will be
effective as of February 27, 2017.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>I
have read this agreement carefully and understand its terms. I have completely filled out Exhibit&nbsp;A to this Agreement.</B></FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: left">/s/ Jeffrey Riley</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: left"><B>(Signature)</B></TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: left">Jeffrey Riley</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: left"><B>(Printed Name)</B></TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-variant: small-caps"><B>Accepted and Agreed To:</B></FONT></TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: left"><FONT STYLE="font-variant: small-caps"><B>SYNTHETIC BIOLOGICS, INC.</B></FONT></TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 42%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 50%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">By: </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">/s/s Steven A. Shallcross</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">Name:</TD>
    <TD STYLE="text-align: left">Steven A. Shallcross</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">Title:</TD>
    <TD STYLE="text-align: left">Chief Financial Officer</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Prior
Inventions</B></FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><B>TO:</B></TD><TD STYLE="text-align: justify"><B>SYNTHETIC BIOLOGICS, INC.</B></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><B>FROM:</B></TD><TD STYLE="text-align: justify"><B>___________________</B></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><B>DATE:</B></TD><TD STYLE="text-align: justify"><B>February 27, 2017</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.8in; text-align: justify; text-indent: -0.8in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>SUBJECT:</B></TD><TD STYLE="text-align: justify"><B>Prior Inventions </B></TD></TR></TABLE>

<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>1.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as listed in Section 2 below, the following is a complete list of all inventions or improvements relevant to the subject matter
of my employment by Synthetic Biologics, Inc. (<B>&ldquo;Company&rdquo;</B>) that have been made or conceived or first reduced
to practice by me alone or jointly with others prior to my engagement by Company:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.4in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">x</FONT></TD><TD STYLE="text-align: justify">No inventions or improvements.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.4in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD><TD STYLE="text-align: justify">See below:</TD></TR></TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 85%; border-collapse: collapse; margin-left: 1in">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 50%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.4in; text-align: justify; text-indent: -0.4in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD><TD STYLE="text-align: justify">Additional sheets attached.</TD></TR></TABLE>

<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>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Due
to a prior confidentiality agreement, I cannot complete the disclosure under Section&nbsp;1 above with respect to inventions or
improvements generally listed below, the intellectual property rights and duty of confidentiality with respect to which I owe to
the following party(ies):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.4in"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 25%; text-align: center"><B>Invention or Improvement</B></TD>
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 20%; text-align: center"><B>Party(ies)</B></TD>
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 44%; text-align: center"><B>Relationship</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><B>1.</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><B>2.</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><B>3.</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.4in; text-align: justify; text-indent: -0.4in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD><TD STYLE="text-align: justify">Additional sheets attached.</TD></TR></TABLE>

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


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

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<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>tv480950_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.1</B></P>

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

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><IMG SRC="logo_001.jpg" ALT="">&nbsp;</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Synthetic Biologics Announces Management
Changes</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Rockville, MD, December 5, 2017 &ndash;</B>
Synthetic Biologics, Inc. (NYSE American: SYN), a late-stage clinical company developing therapeutics that preserve the microbiome
to protect and restore the health of patients, announced today that Steve Shallcross, the Company&rsquo;s Chief Financial Officer,
has been named interim CEO to succeed Jeff Riley, who has resigned as an officer and director of the Company, effective immediately,
for personal reasons.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Jeffrey Kraws, the Company&rsquo;s non-executive
Independent Chairman of the Board stated, &ldquo;The Board is very confident in the ability of Steve Shallcross and Joe Sliman,
the Company&rsquo;s Chief Medical Officer, to continue the Company&rsquo;s development activities. We understand Jeff&rsquo;s decision
to step down as CEO and as a Board member and are grateful for his leadership and accomplishments. During his tenure, he has led
significant changes at the Company, including its transition to a company focused on therapeutics that preserve the microbiome.
On behalf of the Board and the Company, we thank Jeff for his dedication and many years of service, and wish him all the best in
his future endeavors.&rdquo;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Synthetic Biologics, Inc. (NYSE American:
SYN) is a late-stage clinical company developing therapeutics designed to preserve the microbiome to protect and restore the health
of patients. The Company's lead candidates poised for Phase 3 development are: (1) SYN-004 (ribaxamase) which is designed to protect
the gut microbiome from the effects of certain commonly used intravenous (IV) beta-lactam antibiotics for the prevention of C.
difficile infection (CDI), overgrowth of pathogenic organisms and the emergence of antimicrobial resistance (AMR), and (2) SYN-010
which is intended to reduce the impact of methane producing organisms in the gut microbiome to treat an underlying cause of irritable
bowel syndrome with constipation (IBS-C). The Company is also developing preclinical stage monoclonal antibody therapies for the
prevention and treatment of pertussis and novel discovery stage biotherapeutics for the treatment of phenylketonuria (PKU). For
more information, please visit Synthetic Biologics' website at www.syntheticbiologics.com.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>This press release includes forward-looking
statements on Synthetic Biologics' 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 the intended benefits of its drug candidates. These forward-looking
statements are based on management's expectations and assumptions as of the date of this press release and are subject to a number
of substantial risks and uncertainties, many of which are difficult to predict and could cause actual results to differ materially
and adversely from current expectations and assumptions from those set forth, projected or implied by any forward-looking statements.
Important factors that could cause actual results to differ materially from current expectations include, among others, Synthetic
Biologics' ability to retain a new CEO that successfully integrates with its management team, Synthetic Biologics&rsquo; product
candidates demonstrating safety and effectiveness, as well as results that are consistent with prior results, Synthetic Biologics'
ability to initiate clinical trials and if initiated, to complete them on time and achieve desired results and benefits, Synthetic
Biologics' clinical trials continuing enrollment as expected, Synthetic Biologics' ability to obtain regulatory approvals for commercialization
of product candidates or to comply with ongoing regulatory requirements, regulatory limitations relating to Synthetic Biologics'
ability to promote or commercialize its product candidates for specific indications, acceptance of its product candidates in the
marketplace and the successful development, marketing or sale of Synthetic Biologics' products by competitors that render Synthetic
Biologics' products obsolete or non-competitive, Synthetic Biologics' ability to maintain its license agreements, the continued
maintenance and growth of Synthetic Biologics' patent estate, Synthetic Biologics becoming and remaining profitable, Synthetic
Biologics' ability to establish and maintain collaborations, Synthetic Biologics' ability to obtain or maintain the capital or
grants necessary to fund its research and development activities, a loss of any of Synthetic Biologics' key scientists or management
personnel, and other factors described in Synthetic Biologics' Annual Report on Form 10-K for the year ended December 31, 2016,
and its other filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release
is provided only as of the date of this release, and Synthetic Biologics undertakes no obligation to revise or 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: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Synthetic Biologics, Inc. (Corporate and Investors)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Vincent I. Perrone, Director, Corporate Communication, (240)
660-2000, info@syntheticbiologics.com</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Feinstein Kean Healthcare (Media)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Gregory Kelley, Senior Vice President, (404) 836-2302, gregory.kelley@fkhealth.com</P>

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

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

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

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

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