Chief Operating Officer/Managing Director, Europe Employment Contract - Dr. Andreas Tobler

Exhibit 10.1

EMPLOYMENT AGREEMENT

This EMPLOYMENT AGREEMENT is made as of October 1, 2002, by and between Senetek PLC, a company organized under the laws of England (the "Company"), and Andreas Tobler (the"Employee"), with reference to the following facts:

RECITALS:

The Company desires to employ the Employee and the Employee desires to be employed by the Company, initially as the Company's Chief Operating Officer/Managing Director, Europe. In consideration of the foregoing recitals and the mutual covenants herein set forth, the parties agree as follows:

1. Employment: Acceptance. The Company hereby employs the Employee and the Employee hereby accepts employment by the Company as the Company's Chief Operating Officer/Managing Director, Europe, or in such other capacity consistent with the Employee's experience and competencies and of a level at least comparable to the position specified above as may be assigned to the Employee by the Chief Executive Officer of the Company. The Employee agrees that at such time, not sooner than four months or later than eight months after the date hereof, as the Chief Executive Officer of the Company so directs, the Employee will relocate to the United Kingdom to head the Company's European Headquarters, at which time the Employee's title shall be changed to President, Europe. The Company shall pay the Employee's reasonable costs of moving personal effects from his current residence in Austria and his temporary residence in the Napa, California area, in accordance with the Company's normal relocation policy.


2. Duties and Powers. The Employee agrees to devote his full business time, attention, energies and abilities to the proper management and conduct of the Company's business, provided that, subject to Section 7.3, the Employee may serve on the Board of Directors, advisory committee, or the like of not more than two for-profit or not-for-profit business organizations at any one time during the Term, provided, further, that such service does not interfere with or detract from the Employee's services on behalf of the Company. The Employee shall have full power and authority, subject to the By-laws of the Company and the direction of the Chief Executive Officer, generally to manage, administer and conduct the business and affairs of the Company within the Employee's area of responsibility, and shall have such other duties, powers and authority as are prescribed by the Chief Executive Officer in accordance with the By-laws of the Company.

3. Term. The employment of the Employee by the Company pursuant to this Agreement shall commence on the date hereof and continue until October 1, 2005, unless the Employee's employment is sooner terminated in accordance with Section 5 or 6.

4. Compensation. The Company hereby agrees to pay to the Employee an annual salary of $180,000. Such salary shall be payable in installments according to the Company's regular payroll practice, subject, if applicable, to withholding and social security, unemployment and other taxes ; provided that if the Employee's employment terminates on any date other than on the last day of a calendar month, then the compensation payable pursuant to this Section 4 for the monthly period during which the period of employment has been terminated shall be prorated.

5. Other Benefits.

5.1 Housing Allowance . The Employee shall be entitled to a housing allowance of $1,500

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per month to be applied to the rental of a temporary residence in the Napa, California area, until such time as the Employee relocates to the United Kingdom as provided in Section 1. Upon such relocation, the Employee shall not be entitled to any further housing allowance but the Employee's salary shall be increased to $198,000 per year.

5.2 Management Bonus Plan . Commencing with calendar year 2003, the Employee shall be eligible to participate in a Management Bonus Plan to be developed and administered by the Compensation Committee of the Board pursuant to which, for each calendar year, participants may earn, based on individual performance, up to a percentage of the participant's salary established at the beginning of the year, payable from a bonus fund measured by the extent to which the Company's performance during the year exceeds budget, such bonus to be payable in cash and/or shares of the Company's stock, all as determined by the Compensation Committee and Chief Executive Officer.

5.3 Vacation. The Employee shall be entitled to take an annual vacation in accordance with the policy of the Company with respect thereto. The Company policy for executives is three weeks of paid vacation during each complete 12-month period of employment.

5.4 Expenses. The Company shall reimburse the Employee for reasonable travel, entertainment and other business expenses incurred in connection with the performance of his duties hereunder, in accordance with the policy of the Company with respect thereto.

5.5 Employee Benefit Plans. The Employee shall be entitled to participate, on the same terms as other employees of the Company of the Employee's level, in any medical, dental or other health plan, pension plan, profit-sharing plan, and life or disability insurance plan that the Company may from time to time adopt or maintain, any of which may be changed, terminated or eliminated by the Company at any time in its exclusive discretion.

5.6 Car Allowance. Employee shall be entitled to a car allowance in the amount of $500 per month.

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5.7 Stock Option. The Chief Executive Officer shall recommend to the Compensation Committee of the Board that within 15 days after the date hereof Employee be granted stock options to purchase 200,000 American Depositary Shares representing Common Stock of the Company at an exercise price equal to the market price of the American Depositary Shares on the date of grant and with a four year vesting schedule, in accordance with the Company's Stock Option Plan 1.

6. Termination.

6.1 By the Company for Cause. The Company may terminate this Agreement and the Employee's employment for cause, effective immediately on the day it gives notice of such termination to the Employee. "Cause" for this purpose shall be defined as insobriety; conviction of a misdemeanor involving moral turpitude or a felony; illegal business practices in connection with the Company's business; misappropriation of the Company's assets; willful violation of Company policies; excessive absence of the Employee from his employment during usual working hours for reasons other than vacation, disability or sickness; or any material breach by the Employee of any term or provision of this Agreement. (including without limitation any failure to perform his duties hereunder in accordance with the directions of the Chief Executive Officer). On such termination for cause, the Employee shall be entitled only to his compensation hereunder to the date of such termination, and shall not be entitled to any other compensation, including, without limitation, any severance compensation.

6.2 Disability. If the Employee becomes unable to fully perform the Employee's duties hereunder because of legal disability (including an injunction or similar order or decree of a court of competent jurisdiction preventing or severely impairing the performance of his duties hereunder), the Company may terminate this Agreement by written notice to Employee effective on the date sta ...