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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION </B></P>

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

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

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;8-K </B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PURSUANT TO SECTION&nbsp;13 OR 15(d)&nbsp;OF
THE<BR>
SECURITIES EXCHANGE ACT OF 1934 </B></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">Date of report (Date of earliest event reported):
<B>March 30, 2012 </B></P>

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ZIOPHARM Oncology, Inc. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in
Charter)</P>

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

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 32%; vertical-align: top; font-weight: bold; text-align: center">Delaware</TD>
    <TD STYLE="width: 2%; vertical-align: bottom; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; font-weight: bold; text-align: center">001-33038</TD>
    <TD STYLE="width: 2%; vertical-align: bottom; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; vertical-align: top; font-weight: bold; text-align: center">84-1475672</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; text-align: center">(State or Other Jurisdiction of Incorporation)</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">(Commission File Number)</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; text-align: center">(IRS Employer Identification No.)</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="3" STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; text-align: center"><B>1180 Avenue
    of the Americas<BR> 19th Floor<BR> New York, NY</B></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><B>&nbsp;</B></TD>
    <TD STYLE="vertical-align: bottom; font-weight: bold; text-align: center"><B>10036</B></TD></TR>
<TR>
    <TD COLSPAN="3" STYLE="vertical-align: top; padding-right: 0.7pt; padding-left: 0.7pt; text-align: center">(Address of Principal Executive Offices) &nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">(Zip Code)</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(646)&nbsp;214-0700 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant&rsquo;s telephone number, including
area code)</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"><B>Not applicable </B></P>

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

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

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<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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form&nbsp;8-K 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: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD STYLE="text-align: justify">Written communications pursuant to Rule&nbsp;425 under
the Securities Act (17&nbsp;CFR&nbsp;230.425).</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24.5pt; text-indent: -24.5pt">&nbsp;</P>

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

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b)&nbsp;under
the Exchange Act (17&nbsp;CFR 240.14d-2(b)).</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24.5pt; text-indent: -24.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c)&nbsp;under
the Exchange Act (17&nbsp;CFR 240.13e-4(c)).</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24.5pt; text-indent: -24.5pt">&nbsp;</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><B>Item 5.02</B></TD><TD STYLE="text-align: justify"><B>Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</B></TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On March 30, 2012, ZIOPHARM Oncology, Inc.,
or the Company, entered into an amendment, or the Amendment, to the existing employment agreement, dated July 8, 2011, with Hagop
Youssoufian, M.D., M.Sc., the Company&rsquo;s President of Research and Development and Chief Medical Officer.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to his employment agreement prior
to the Amendment, if Dr. Youssoufian relocated<FONT STYLE="color: black; background-color: white"> his primary residence from Princeton,
New Jersey to the Boston, Massachusetts metropolitan area by August 1, 2012, the Company was to reimburse Dr. Youssoufian for moving
expenses incurred in so relocating his family and belongings and pay Dr. Youssoufian an additional stipend of $25,000 in respect
of all other incidental relocation expenses.&nbsp;&nbsp;The Company was further required to reimburse Dr. Youssoufian for up to
$3,000 per month of Boston-based apartment rental payments until the earlier of his relocation or August 1, 2012, subject to the
Company reviewing and pre-approving in its sole discretion the proposed lease agreement. If Dr. Youssoufian elected not to rent
a Boston-based apartment, the Company was required to instead reimburse him for reasonable expenses incurred in traveling to and
from Princeton, New Jersey in connection with his work responsibilities in Boston, Massachusetts, New York, New York and Germantown,
Maryland. To the extent taxable to Dr. Youssoufian, the Company was to gross-up the $25,000 incidental relocation stipend and reimbursements
for apartment rental payments to offset the impact of U.S. federal income taxes on such payments. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="background-color: white">Under
the Amendment, Dr. Youssoufian must relocate his permanent residence to the greater Boston, Massachusetts area from Princeton,
New Jersey by October 1, 2012. Subject to his relocation to the greater Boston, Massachusetts area by that date, the Company will
reimburse Dr. Youssoufian for reasonable, out of pocket, relocation expenses, up to a maximum of $20,000. If Dr. Youssoufian terminates
his employment with the Company prior to March 30, 2013, he will be required to repay any relocation reimbursements received. To
the extent taxable to Dr. Youssoufian, the Company has agreed to gross-up the $20,000 relocation reimbursement to offset the impact
of U.S. federal income taxes on such payments.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In addition, the Amendment provides
that the Company will pay Dr. Youssoufian a one time retention bonus of $200,000. If Dr. Youssoufian terminates his
employment  without Good Reason or he is terminated for Cause (as such terms are defined in his employment agreement), in
either case prior to March 30, 2013, Dr. Youssoufian will be required to refund the retention bonus to the Company, provided
that the amount of the retention bonus refundable to the Company in these instances will be reduced monthly, on a pro rata
basis, over the twelve month period following March 30, 2012. In the event of a Change of Control of the Company (as defined
in his employment agreement) prior to March 30, 2013, any portion of the retention bonus that remains subject to refund will
vest immediately and no longer be refundable to the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A copy of the Amendment is attached hereto
as Exhibit 10.1 and is incorporated by reference herein.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><B>Item 9.01</B></TD><TD STYLE="text-align: justify"><B>Financial Statements and Exhibits</B></TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: .25in; text-align: left">(d)</TD><TD STYLE="text-align: justify"><I>Exhibits</I>.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 14%; padding: 0; font-weight: bold; text-indent: 0">Exhibit No.</TD>
    <TD STYLE="width: 86%; padding: 0; font-weight: bold; text-align: center; text-indent: 0">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">10.1</TD>
    <TD STYLE="padding: 0; text-indent: 0">Amendment No. 1 to Employment Agreement, dated July 8, 2011, by and between the Company and Hagop Youssoufian, M.D., M.Sc.</TD></TR>
</TABLE>
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<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; text-align: center"><U>SIGNATURES </U></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: justify; text-indent: 24.5pt">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: 0pt 0; text-align: justify">&nbsp;&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="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">ZIOPHARM Oncology, Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 47%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify">By:</TD>
    <TD STYLE="width: 49%; border-bottom: windowtext 1pt solid; padding-left: 10pt; text-align: justify; text-indent: -10pt">/s/ Caesar Belbel</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Date: April 3, 2012</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Name: Caesar Belbel</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>Title: Executive Vice President, Chief Legal Officer and Secretary</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<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"><B>INDEX OF EXHIBITS</B></P>

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

<TABLE CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 14%; padding: 0; font-weight: bold; text-indent: 0">Exhibit No.</TD>
    <TD STYLE="width: 86%; padding: 0; font-weight: bold; text-align: center; text-indent: 0">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">10.1</TD>
    <TD STYLE="padding: 0; text-indent: 0">Amendment No. 1 to Employment Agreement, dated July 8, 2011, by and between the Company and Hagop Youssoufian, M.D., M.Sc.</TD></TR>
</TABLE>
<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"></P>

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{"company-data": {"conformed-name": "ZIOPHARM ONCOLOGY INC", "cik": "0001107421", "assigned-sic": "8093", "irs-number": "841475642", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-33038", "film-number": "12738078"}, "business-address": {"street1": "1180 AVENUE OF THE AMERICA", "street2": "19TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10036", "phone": "646-214-0700"}, "mail-address": {"street1": "1180 AVENUE OF THE AMERICA", "street2": "19TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10036"}, "former-company": {"former-conformed-name": "EASYWEB INC", "date-changed": "20010213"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported):
March 30, 2012
ZIOPHARM Oncology, Inc.
(Exact Name of Registrant as Specified in
Charter)
Delaware
001-33038
84-1475672
(State or Other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
1180 Avenue
    of the Americas
19th Floor
New York, NY
10036
(Address of Principal Executive Offices)
(Zip Code)
(646) 214-0700
(Registrant's telephone number, including
area code)
Not applicable
(Former Name or Former Address, if Changed
Since Last Report)
Check the appropriate box below if the Form 8-K is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o
Written communications pursuant to Rule 425 under
the Securities Act (17 CFR 230.425).
o
Soliciting material pursuant to Rule 14a-12 under
the Exchange Act (17 CFR 240.14a-12).
o
Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b)).
o
Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c)).
Item 5.02
Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 30, 2012, ZIOPHARM Oncology, Inc.,
or the Company, entered into an amendment, or the Amendment, to the existing employment agreement, dated July 8, 2011, with Hagop
Youssoufian, M.D., M.Sc., the Company's President of Research and Development and Chief Medical Officer.
Pursuant to his employment agreement prior
to the Amendment, if Dr. Youssoufian relocated
his primary residence from Princeton,
New Jersey to the Boston, Massachusetts metropolitan area by August 1, 2012, the Company was to reimburse Dr. Youssoufian for moving
expenses incurred in so relocating his family and belongings and pay Dr. Youssoufian an additional stipend of $25,000 in respect
of all other incidental relocation expenses.  The Company was further required to reimburse Dr. Youssoufian for up to
$3,000 per month of Boston-based apartment rental payments until the earlier of his relocation or August 1, 2012, subject to the
Company reviewing and pre-approving in its sole discretion the proposed lease agreement. If Dr. Youssoufian elected not to rent
a Boston-based apartment, the Company was required to instead reimburse him for reasonable expenses incurred in traveling to and
from Princeton, New Jersey in connection with his work responsibilities in Boston, Massachusetts, New York, New York and Germantown,
Maryland. To the extent taxable to Dr. Youssoufian, the Company was to gross-up the $25,000 incidental relocation stipend and reimbursements
for apartment rental payments to offset the impact of U.S. federal income taxes on such payments.
Under
the Amendment, Dr. Youssoufian must relocate his permanent residence to the greater Boston, Massachusetts area from Princeton,
New Jersey by October 1, 2012. Subject to his relocation to the greater Boston, Massachusetts area by that date, the Company will
reimburse Dr. Youssoufian for reasonable, out of pocket, relocation expenses, up to a maximum of $20,000. If Dr. Youssoufian terminates
his employment with the Company prior to March 30, 2013, he will be required to repay any relocation reimbursements received. To
the extent taxable to Dr. Youssoufian, the Company has agreed to gross-up the $20,000 relocation reimbursement to offset the impact
of U.S. federal income taxes on such payments.
In addition, the Amendment provides
that the Company will pay Dr. Youssoufian a one time retention bonus of $200,000. If Dr. Youssoufian terminates his
employment  without Good Reason or he is terminated for Cause (as such terms are defined in his employment agreement), in
either case prior to March 30, 2013, Dr. Youssoufian will be required to refund the retention bonus to the Company, provided
that the amount of the retention bonus refundable to the Company in these instances will be reduced monthly, on a pro rata
basis, over the twelve month period following March 30, 2012. In the event of a Change of Control of the Company (as defined
in his employment agreement) prior to March 30, 2013, any portion of the retention bonus that remains subject to refund will
vest immediately and no longer be refundable to the Company.
A copy of the Amendment is attached hereto
as Exhibit 10.1 and is incorporated by reference herein.
Item 9.01
Financial Statements and Exhibits
(d)
Exhibits
.
Exhibit No.
Description
10.1
Amendment No. 1 to Employment Agreement, dated July 8, 2011, by and between the Company and Hagop Youssoufian, M.D., M.Sc.
SIGNATURES
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.
ZIOPHARM Oncology, Inc.
By:
/s/ Caesar Belbel
Date: April 3, 2012
Name: Caesar Belbel
Title: Executive Vice President, Chief Legal Officer and Secretary
INDEX OF EXHIBITS
Exhibit No.
Description
10.1
Amendment No. 1 to Employment Agreement, dated July 8, 2011, by and between the Company and Hagop Youssoufian, M.D., M.Sc.