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EXHIBIT 10.21
AMENDMENT TO EMPLOYMENT AGREEMENT
THIS AMENDMENT TO EMPLOYMENT AGREEMENT ("Amendment") is made as of
April 24, 1997, between Somanetics Corporation, a Michigan corporation (the
"Company"), and Xxxxx X. Xxxxxxx ("Employee").
RECITALS
A. Employee and the Company entered into the Employment Agreement,
dated as of May 13, 1994, as amended July 21, 1994 (the "Agreement").
B. Employee and the Company desire to renew and amend the Agreement.
THEREFORE, Company and Employee agree as follows:
1. Amendment. Effective May 1, 1997, the first sentence of Section 2
of the Agreement is replaced with the following: "The term of Employee's
employment under this Agreement shall begin on June 1, 1994 and shall continue
until April 30, 2000, unless earlier terminated pursuant to Section 4."
2. Amendment. Effective May 1, 1997, Section 3(a) of the Agreement is
amended and restated to read as follows:
"(a) Salary and Bonus. (i) As salary for Employee's services to
be rendered under this Agreement, the Company shall pay Employee an annual
salary of $204,750, increased from time to time by an amount determined by
the Board of Directors. Such salary shall be paid semi-monthly in arrears
(or at such other interval, not less frequently than monthly, as the
Company shall designate). (ii) As a bonus, Employee will participate in
the Bonus Plan established by the Compensation Committee of the Board."
3. No Other Change. Except as modified by this Amendment, the
Agreement shall continue in full force according to its terms and is hereby
ratified.
IN WITNESS WHEREOF, the Company and Employee have executed this Amendment
as of the date set forth in the introductory paragraph of this Amendment.
SOMANETICS CORPORATION
By: /s/ Xxxxxxx X. Xxxx
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Its: Executive Vice President
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/s/ Xxxxx X. Xxxxxxx
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XXXXX X. XXXXXXX
