Replies to post #3167 on Asus' FREE Speech Money Club (ASUS)

[quiet]

And holding up through all the carnage. Thanks for the heads up. Been watching since you mentioned it a few days ago. I only had pocket change that wasn't tied up at the moment but went ahead and sat it in PP.

[zigbee]

How many CEO's do you see doing this? Far too few IMO.

http://knobias.10kwizard.com/filing.php?repo=tenk&ipage=5069555&doc=1&total=&back=2&...

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AMENDED AND RESTATED EMPLOYMENT AGREEMENT

This Amended and Restated Employment Agreement (the “Amended and Restated Employment Agreement”), dated July 20, 2007, by and between Pipex Pharmaceuticals, Inc., a corporation organized under the laws of the State of Delaware (the “Corporation”), and Steve H. Kanzer, an individual (the “Employee” or the “Chief Executive Officer”).

W I T N E S S E T H:

WHEREAS, the Employee is currently a party to a four year employment agreement dated January 3, 2005 with Pipex Therapeutics, Inc., a wholly owned subsidiary of the Corporation (the “2005 Employment Agreement”);

WHEREAS, the Corporation and the Employee wish to amend and restate the 2005 Employment Agreement to revise certain provisions contained therein, including to make the Corporation a party thereto instead of Pipex Therapeutics, Inc.;

WHEREAS, in order to minimize the Corporation’s cash operating costs, the Employee has requested to reduce his annual salary by $100,000 per year, representing a 33.9% reduction in salary;

WHEREAS, the Employee has neither taken salary from the Corporation or any of its subsidiaries since 2002 nor under the 2005 Employment Agreement, and pursuant to the 2005 Employment Agreement upon the event of a financing which occurred on November 1, 2006 through the present, the Employee would otherwise be entitled salary under the terms of the 2005 Employment Agreement in the amount of $275,254 , which the Employee did not elect to take;

WHEREAS, the Employee desires that any and all oblibation on the part of the Corporation to pay such entitled salary be waived and instead the entire amount be considered a capital contribution to the Corporation by the Employee as of the date hereof for no consideration; and

WHEREAS, on Janaury 20, 2007 the Board of Directors granted the Employee’s requests and approved this Amended and Restated Employment Agreement;