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Exhibit
10.41
TERMINATION
AGREEMENT
This Termination Agreement
(this “ Agreement ”) is entered as of
September 7, 2007 between Immunomedics, Inc. (the “
Company ”) and David M. Goldenberg (“ Dr
. Goldenberg ”, and together with the Company, the
“ Parties ”).
W I T N E S S E T H
:
WHEREAS, the Parties have
entered into that certain Executive Supplemental Benefits
Agreement, dated as of July 18, 1986 (the “ Benefits
Agreement ”), pursuant to which the Company agreed to
provide certain supplemental benefits to Dr. Goldenberg under
the terms, and subject to the conditions, of the Benefits
Agreement; and
WHEREAS, the Parties deem it
advisable, and in their respective best interests, to terminate the
Benefits Agreement in accordance with the terms of this
Agreement.
NOW, THEREFORE, in
consideration of the foregoing premises and the mutual covenants
and agreements contained in this Agreement and intending to be
legally bound, the Parties agree as follows:
1. Termination of the
Benefits Agreement . The Parties hereby agree to terminate the
Benefits Agreement in its entirety effective as of the date
hereof.
2. Release .
Dr. Goldenberg hereby releases the Company, its subsidiaries,
and affiliated, predecessor, and successor corporations and
business entities, past, present and future, and their partners,
agents, directors, officers, employees, executives,
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