MAXIM PHARMACEUTICALS INC
EXHIBIT 10.1
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<DESCRIPTION>EXHIBIT 10.1
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<BR></FONT><FONT SIZE=2><B>Exhibit 10.1    <BR>  </B></FONT></P>

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<BR></FONT><FONT SIZE=2><B>AMENDED AND RESTATED EMPLOYMENT AGREEMENT    <BR>  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE=2><B>THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT</B></FONT><FONT SIZE=2> (the "Amended Agreement") is made and entered into effective as of
June&nbsp;1, 2002, by and between </FONT><FONT SIZE=2><B>MAXIM PHARMACEUTICALS,&nbsp;INC.</B></FONT><FONT SIZE=2>, (the "Company") and </FONT><FONT SIZE=2><B>DALE A.
SANDER</B></FONT><FONT SIZE=2> ("Employee"). The Company and Employee are hereinafter collectively referred to as the "Parties," and individually referred to as a "Party." </FONT></P>

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<BR></FONT><FONT SIZE=2><B>RECITALS    <BR>  </B></FONT></P>

<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Employee and the Company entered into a certain Employment Agreement dated November&nbsp;16, 2001 wherein Employee
served as Senior Vice President, Finance, Chief Financial Officer and Corporate Secretary of the Company. </FONT></P>

<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Employee and the Company have determined that Employee shall resign from his position as Senior Vice President, Finance,
Chief Financial Officer and Corporate Secretary of the Company, effective as of June&nbsp;1, 2002. </FONT></P>

<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Company wishes to retain Employee as an employee in the position of Vice President, Corporate Development under the
terms of this Amended Agreement. </FONT></P>

<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Employee desires to be in the employ of the Company, and is willing to accept such employment on the terms and conditions
set forth in this Amended Agreement. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="kf1642_agreement"> </A>
<A NAME="toc_kf1642_4"> </A>
<BR></FONT><FONT SIZE=2><B>AGREEMENT    <BR>  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In consideration of the foregoing recitals and the mutual promises and covenants herein contained, and for other good and valuable consideration, the Parties,
intending to be legally bound, agree as follows: </FONT></P>

<P><FONT SIZE=2><B>1.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2><B>EMPLOYMENT  </B></FONT></P>

<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1&nbsp;&nbsp;&nbsp;&nbsp;Term.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Company hereby employs Employee, and Employee hereby accepts employment by the Company, upon the
terms and conditions set forth in this Amended Agreement, effective as of the date first set forth above ("Effective Date"). This Amended Agreement shall continue in effect until terminated pursuant
to Section&nbsp;4 below. </FONT></P>

<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2&nbsp;&nbsp;&nbsp;&nbsp;Position.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Employee shall be the Vice President, Corporate Development and shall serve in such other capacity
or capacities as the Company's Chief Executive Officer ("CEO") may from time to time prescribe. </FONT></P>

<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3&nbsp;&nbsp;&nbsp;&nbsp;Duties.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Employee shall do and perform all services, acts or things necessary or advisable to manage and
conduct the business of the Company and which are normally associated with the position of Vice President, Corporate Development consistent with the Bylaws of the Company and as required or directed
by the CEO. </FONT></P>

<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4&nbsp;&nbsp;&nbsp;&nbsp;Policies and Practices.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The employment relationship between the Parties shall be governed by the policies
and practices established by the Company and the Board. The Employee acknowledges that he has read the Company's Employee Handbook, which governs the terms and conditions of his employment with the
Company, along with this Amended Agreement. In the event that the terms of this Amended Agreement differ from or are in conflict with the Company's policies or practices or the Company's Employee
Handbook, this Amended Agreement shall control. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>1</FONT></P>

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<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5&nbsp;&nbsp;&nbsp;&nbsp;Location.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Unless the Parties otherwise agree in writing, during the term of this Amended Agreement, Employee
shall perform the services he is required to perform pursuant to this Amended Agreement at the Company's offices, located at 8899 University Lane, Suite 400, San Diego, CA 92122 or at any other place
at which the Company maintains an office; provided, however, that the Company may from time to time require Employee to travel temporarily to other locations in connection with the Company's business. </FONT></P>


<P><FONT SIZE=2><B>2.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2><B>LOYAL AND CONSCIENTIOUS PERFORMANCE; NONCOMPETITION  </B></FONT></P>

<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1&nbsp;&nbsp;&nbsp;&nbsp;Loyalty.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;During Employee's employment by the Company, Employee shall devote his full business energies,
interest, abilities and productive time to the proper and efficient performance of his duties under this Amended Agreement. </FONT></P>

<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2&nbsp;&nbsp;&nbsp;&nbsp;Covenant Not to Compete.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;During the term of this Amended Agreement, Employee shall not engage in competition
with the Company, either directly or indirectly, in any manner or capacity, as adviser, principal, agent, partner, officer, director, employee, member of any association or otherwise, in any phase of
the business of developing, manufacturing and marketing of products which are in the same field of use or which otherwise compete with the products or proposed products of the Company. </FONT></P>

<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3&nbsp;&nbsp;&nbsp;&nbsp;Agreement not to Participate in Company's Competitors.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;During Employee's employment with the Company and any
period in which Employee is receiving compensation from the Company, Employee agrees not to acquire, assume or participate in, directly or indirectly, any position, investment or interest known by
Employee to be adverse or antagonistic to the Company, its business or prospects, financial or otherwise or in any company, person or entity that is, directly or indirectly, in competition with the
business of the Company or any of its Affiliates. Ownership by the Employee, as a passive investment, of less than one percent (1%) of the outstanding shares of capital stock of any corporation with
one or more classes of its capital stock listed on a national securities exchange or publicly traded on the Nasdaq Stock Market or in the over-the-counter market shall not
constitute a breach of this paragraph. </FONT></P>

<P><FONT SIZE=2><B>3.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2><B>COMPENSATION AND BENEFITS  </B></FONT></P>


<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1&nbsp;&nbsp;&nbsp;&nbsp;Base Salary.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;While employed by the Company, as compensation for proper and satisfactory performance of all
duties to be performed hereunder, the Company shall pay Employee an annual base salary of two hundred fifty thousand dollars ($250,000) per year ("Base Salary"), payable in regular
periodic payments in accordance with Company policy. Such salary shall be prorated for any partial year of employment on the basis of a 365-day fiscal year. </FONT></P>

<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2&nbsp;&nbsp;&nbsp;&nbsp;Discretionary Bonus.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;In addition to Employee's base salary, Employee will be eligible to receive an annual
discretionary bonus of up to twenty percent (20%) of Employee's then current base salary. The bonus amount Employee may receive, if any, shall be discretionary and based upon Employee's performance
during the previous year as evaluated by the CEO and the Board in their sole and absolute discretion. </FONT></P>

<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3&nbsp;&nbsp;&nbsp;&nbsp;Employment Taxes and Withholdings.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;All of Employee's compensation shall be subject to customary withholding
taxes and any other employment taxes as are commonly required to be collected or withheld by the Company. </FONT></P>


<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4&nbsp;&nbsp;&nbsp;&nbsp;Vacation.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Employee shall be entitled to vacation and illness days consistent with the Company's standard
practice for its employees generally. </FONT></P>

<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5&nbsp;&nbsp;&nbsp;&nbsp;Employee Benefits.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Employee shall, at the discretion of the Board, be entitled to participate in the
benefits for which he is eligible under the terms and conditions of the standard Company benefits which may be in effect from time to time and provided by the Company. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>2</FONT></P>

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<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6&nbsp;&nbsp;&nbsp;&nbsp;Expense Reimbursement.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Employee shall be entitled to receive prompt reimbursement of all reasonable business
and travel expenses incurred by Employee in connection with the business of the Company. Such expenses must be properly accounted for under the policies and procedures established by the Company. </FONT></P>

<P><FONT SIZE=2><B>4.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2><B>TERMINATION  </B></FONT></P>


<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1&nbsp;&nbsp;&nbsp;&nbsp;Termination by the Company for Cause.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Company may terminate Employee's employment under this Amended
Agreement "for Cause" by delivery of written notice to Employee specifying the cause or causes relied upon for such termination. If Employee's employment under this Amended Agreement is terminated by
the Company for Cause under this section, Employee shall be entitled to receive only accrued Base Salary and other accrued benefits required by law, prorated to the date of termination. Employee will
not be entitled to severance pay, pay in lieu of notice or any other such compensation.
Grounds for the Company to terminate this Amended Agreement "for cause" shall be limited to the occurrence of any of the following events: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>(a)</B></FONT><FONT SIZE=2>&nbsp;&nbsp;If Employee is in material breach of any provision of this Amended Agreement; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>(b)</B></FONT><FONT SIZE=2>&nbsp;&nbsp;Employee's engaging or in any manner participating in any activity which is competitive with or intentionally injurious
to the Company or which violates any provision of Sections 2 or 5 of this Amended Agreement; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>(c)</B></FONT><FONT SIZE=2>&nbsp;&nbsp;Employee's commission of any fraud against the Company or use or appropriation for his personal use or benefit of any
funds or properties of the Company not authorized by the Board to be so used or appropriated; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>(d)</B></FONT><FONT SIZE=2>&nbsp;&nbsp;Employee's conviction of any crime involving dishonesty or moral turpitude; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>(e)</B></FONT><FONT SIZE=2>&nbsp;&nbsp;Conduct by Employee which in good faith and reasonable determination of the Board demonstrates gross unfitness to serve. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
notice of termination given pursuant to this Section&nbsp;4.1 shall effect termination as of the date specified in such notice or, in the event no such date is specified, on the
last day of the month in which such notice is delivered or deemed delivered as provided in Section&nbsp;7 below. </FONT></P>

<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2&nbsp;&nbsp;&nbsp;&nbsp;Termination by the Company Without Cause.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Company may terminate the Employee's employment at any time
without Cause upon delivery of written notice to the Employee. Any notice of termination given pursuant to this Section&nbsp;4.2 shall effect termination as of the date specified in such notice or,
in the event no such date is specified, on the last day of the month in which such notice is delivered or deemed deliverable as provided in Section&nbsp;7 below. If such termination shall occur
under this Section&nbsp;4.2, then Employee shall be entitled to continuation of Base Salary and health benefits under COBRA for a period of six (6)&nbsp;months from said date of termination with
such Base Salary continuation to be at the rate set forth in Section&nbsp;3.1 or, as the case may be, at the rate of Employee's then current Base Salary in effect as of the date of termination. </FONT></P>

<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3&nbsp;&nbsp;&nbsp;&nbsp;Termination by Mutual Agreement.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The parties may mutually agree at any time to terminate this Amended
Agreement upon such terms and conditions as may be agreed upon in writing. </FONT></P>


<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4&nbsp;&nbsp;&nbsp;&nbsp;Termination Upon Death or Disability.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;This Amended Agreement shall terminate without notice upon the date of
Employee's death or the date when Employee becomes "completely disabled" (as defined below). In the event of termination due to death or complete disability, Employee or his estate or personal
representative, as the case may be, shall be entitled to receive Employee's Base Salary for a period of one month following the date of death or the date when Employee becomes completely disabled. For
purposes of this Amended Agreement, the term "completely disabled" as used in this Amended Agreement shall mean the inability of Employee to perform the essential functions of his position under this
Amended Agreement by reason of any incapacity, physical or mental, which the </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>3</FONT></P>

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Board of the Company, based upon medical advice or an opinion provided by a licensed physician acceptable to the Board of the Company and approved by the Employee, which approval shall not be
unreasonably withheld, determines to have incapacitated Employee from satisfactorily performing any or all essential functions of his position for the Company during the foreseeable future. Based upon
such medical advice or opinion, the determination of the Board of the Company shall be final and binding and the date such determination is made shall be the date of such complete disability for
purposes of this Amended Agreement. </FONT></P>

<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5&nbsp;&nbsp;&nbsp;&nbsp;Termination by Employee.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding any provision to the contrary herein, unless otherwise provided
herein or unless otherwise provided by law, Employee may at any time terminate his employment with the Company hereunder. In such event, the Company shall not be liable to Employee for the payment of
any amount other than accrued Base Salary and other accrued benefits required by law, prorated to the date of termination. Employee will not be entitled to severance pay, pay in lieu of notice or any
other such compensation. </FONT></P>

<P><FONT SIZE=2><B>5.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2><B>CONFIDENTIAL INFORMATION; NONSOLICITATION  </B></FONT></P>

<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1&nbsp;&nbsp;&nbsp;&nbsp;Confidential Information.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;As a condition of this Amended Agreement, Employee acknowledges and agrees that he
shall continue to be bound by the Company's "Proprietary Information and Inventions Agreement," attached hereto as Exhibit&nbsp;A. </FONT></P>

<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2&nbsp;&nbsp;&nbsp;&nbsp;Nonsolicitation.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;While employed by the Company and for one (1)&nbsp;year thereafter, the Employee agrees
that in order to protect the Company's confidential and proprietary information from unauthorized use, that Employee will not, either directly or through others, solicit or attempt to solicit any
employee, consultant or independent contractor of the Company to terminate his or her relationship with the Company in order to become an employee, consultant or independent contractor to or for any
other person or business entity; or the business of any customer, vendor or distributor of the Company which, at the time of termination or one (1)&nbsp;year immediately prior thereto, was listed on
Company's customer, vendor or distributor list. </FONT></P>

<P><FONT SIZE=2><B>6.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2><B>ASSIGNMENT AND BINDING EFFECT  </B></FONT></P>


<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;This Amended Agreement shall be binding upon and inure to the benefit of Employee and Employee's heirs,
executors, personal representatives, assigns, administrators and legal representatives. Because of the unique and personal nature of Employee's duties under this Amended Agreement, neither this
Amended Agreement nor any rights or obligations under this Amended Agreement shall be assignable by Employee. This Amended Agreement shall be binding upon and inure to the benefit of the Company and
its successors, assigns and legal representatives. </FONT></P>

<P><FONT SIZE=2><B>7.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2><B>NOTICES  </B></FONT></P>


<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;All notices or demands of any kind required or permitted to be given by the Company or Employee under this
Amended Agreement shall be given in writing and shall be personally delivered (and receipted for) or mailed by certified mail, return receipt requested, postage prepaid, addressed as follows: </FONT></P>

<UL>
<UL>

<P><FONT SIZE=2>If
to the Company: </FONT></P>

<P><FONT SIZE=2>Larry
Stambaugh<BR>
Maxim Pharmaceuticals,&nbsp;Inc.<BR>
8899 University Center Lane, Suite 400<BR>
San Diego, CA 92122 </FONT></P>

</UL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>4</FONT></P>

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<P><FONT SIZE=2>If
to Employee: </FONT></P>

<P><FONT SIZE=2>Dale
Sander<BR>
**<BR>
** </FONT></P>

</UL>
</UL>

<P><FONT SIZE=2>Any
such written notice shall be deemed received when personally delivered or three (3)&nbsp;days after its deposit in the United States mail as specified above. Either Party may change its address
for notices by giving notice to the other Party in the manner specified in this section. </FONT></P>

<P><FONT SIZE=2><B>8.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2><B>CHOICE OF LAW.  </B></FONT></P>

<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;This Amended Agreement is made in San Diego, California. This Amended Agreement shall be construed and
interpreted in accordance with the laws of the State of California. </FONT></P>

<P><FONT SIZE=2><B>9.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2><B>INTEGRATION  </B></FONT></P>


<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise provided herein, this Amended Agreement contains the complete, final and exclusive
agreement of the Parties relating to the subject matter of this Amended Agreement, and supersedes all prior oral and written employment agreements or arrangements between the Parties, including, but
not limited to the Employment Agreement between you and the Company dated November&nbsp;16, 2001. </FONT></P>

<P><FONT SIZE=2><B>10.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2><B>AMENDMENT  </B></FONT></P>


<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;This Amended Agreement cannot be amended or modified except by a written agreement signed by Employee and
the CEO or Board of Directors of the Company. </FONT></P>

<P><FONT SIZE=2><B>11.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2><B>WAIVER.  </B></FONT></P>

<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.1&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;No term, covenant or condition of this Amended Agreement or any breach thereof shall be deemed waived,
except with the written consent of the Party against whom the wavier in claimed, and any waiver or any such term, covenant, condition or breach shall not be deemed to be a waiver of any preceding or
succeeding breach of the same or any other term, covenant, condition or breach. </FONT></P>

<P><FONT SIZE=2><B>12.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2><B>SEVERABILITY  </B></FONT></P>

<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The finding by a court of competent jurisdiction of the unenforceability, invalidity or illegality of any
provision of this Amended Agreement shall not render any other provision of this Amended Agreement unenforceable, invalid or illegal. Such court shall have the authority to modify or replace the
invalid or unenforceable term or provision with a valid and enforceable term or provision which most accurately represents the parties' intention with respect to the invalid or unenforceable term or
provision. </FONT></P>

<P><FONT SIZE=2><B>13.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2><B>INTERPRETATION; CONSTRUCTION  </B></FONT></P>

<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.1&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The headings set forth in this Amended Agreement are for convenience of reference only and shall not be
used in interpreting this Amended Agreement. This Amended Agreement has been drafted by legal counsel representing the Company, but Employee has been encouraged, and has consulted with, his own
independent counsel and tax advisors with respect to the terms of this Amended Agreement. The Parties acknowledge that each Party and its counsel has reviewed and revised, or had an opportunity to
review and revise, this Amended Agreement, and the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the
interpretation of this Amended Agreement. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>5</FONT></P>

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<P><FONT SIZE=2><B>14.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2><B>REPRESENTATIONS AND WARRANTIES.  </B></FONT></P>


<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.1&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Employee represents and warrants that he is not restricted or prohibited, contractually or otherwise, from
entering into and performing each of the terms and covenants contained in this
Amended Agreement, and that his execution and performance of this Amended Agreement will not violate or breach any other agreements between Employee and any other person or entity. </FONT></P>

<P><FONT SIZE=2><B>15.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2><B>COUNTERPARTS.  </B></FONT></P>


<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.1&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;This Amended Agreement may be executed in two counterparts, each of which shall be deemed an original, all
of which together shall contribute one and the same instrument. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>IN WITNESS WHEREOF</B></FONT><FONT SIZE=2>, the Parties have executed this Amended Agreement as of the date first above written. </FONT></P>

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<TD WIDTH="47%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3><FONT SIZE=2>The Company:</FONT></TD>
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<TD WIDTH="47%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD COLSPAN=3><BR><FONT SIZE=2><B>MAXIM PHARMACEUTICALS,&nbsp;INC.</B></FONT></TD>
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<TD WIDTH="47%"><FONT SIZE=2><BR>
<BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%"><FONT SIZE=2><BR>
<BR>
By:</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR><BR>&nbsp;</FONT></TD>
<TD WIDTH="43%"><FONT SIZE=2><BR>
<BR>
&nbsp;<BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>LARRY G. STAMBAUGH</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Larry G. Stambaugh<BR>
Chairman of the Board, President and<BR>
Chief Executive Officer</FONT></TD>
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<TD WIDTH="47%"><FONT SIZE=2><BR>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%"><FONT SIZE=2><BR>
<BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR><BR>&nbsp;</FONT></TD>
<TD WIDTH="43%"><FONT SIZE=2><BR>
<BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="47%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%"><FONT SIZE=2><BR>
Date:</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="43%"><FONT SIZE=2><BR>
7/30/02</FONT><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="47%"><FONT SIZE=2><BR>
&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="43%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="47%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD COLSPAN=3><BR><FONT SIZE=2><B>EMPLOYEE:</B></FONT></TD>
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<TR VALIGN="TOP">
<TD WIDTH="47%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="43%"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>DALE SANDER</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Dale Sander</FONT></TD>
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<TR VALIGN="TOP">
<TD WIDTH="47%"><FONT SIZE=2><BR>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%"><FONT SIZE=2><BR>
<BR>
&nbsp;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR><BR>&nbsp;</FONT></TD>
<TD WIDTH="43%"><FONT SIZE=2><BR>
<BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="47%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="6%"><FONT SIZE=2><BR>
Date:</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="43%"><FONT SIZE=2><BR>
7/30/02</FONT><HR NOSHADE></TD>
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<P ALIGN="CENTER"><FONT SIZE=2>6</FONT></P>

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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="kf1642_exhibit_a_copy_of_executed_pro__exh03104"> </A>
<A NAME="toc_kf1642_5"> </A>
<BR></FONT><FONT SIZE=2><B>EXHIBIT&nbsp;A<BR>  COPY OF EXECUTED PROPRIETARY INFORMATION AND INVENTIONS AGREEMENT    <BR>  </B></FONT></P>

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<P><br><A NAME="02SAN1642_2">QuickLinks</A><br></P><!-- TOC_BEGIN -->
<UL>
<FONT SIZE=2><A HREF="#toc_kf1642_1">Exhibit 10.1</A></FONT><BR>
</UL>
<FONT SIZE=2><A HREF="#toc_kf1642_2">AMENDED AND RESTATED EMPLOYMENT AGREEMENT</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_kf1642_3">RECITALS</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_kf1642_4">AGREEMENT</A></FONT><BR>
<FONT SIZE=2><A HREF="#toc_kf1642_5">EXHIBIT A COPY OF EXECUTED PROPRIETARY INFORMATION AND INVENTIONS AGREEMENT</A></FONT><BR>
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