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EXHIBIT 10.8
AMENDMENT NO. 3 TO EMPLOYMENT AGREEMENT made as of the 15TH DAY OF
JANUARY, 1999, ("Amendment")
BETWEEN:
GENETRONICS, INC., a California Corporation having it's principle
place of business at 00000 Xxxxxxxx Xxxxxx Xxxx, Xxx Xxxxx, Xxxxxxxxxx,
XXX, 00000-0000 (the "Company")
AND:
XXXX X. XXXXXXXX, an individual residing at [__________________]
(the "Employee")
(the Company and the Employee are collectively, the "Parties")
WHEREAS:
A. The Company entered into an Employment Agreement with the Employee
dated January 9, 1995, and Amended January 9, 1996, and March. 1, 1998
(the "Agreement"); and
B. The parties wish to amend certain terms of the Agreement as set out
herein ("the Amendment!'),
THEREFORE in consideration of the recitals, the following
representations and covenants, the Parties agree on the following terms:
1. AMENDMENT TO THE AGREEMENT
Article 2, Section 2.1 is hereby amended in its entirety to read as
follows:
2.1 SALARY. For her services hereunder, the Employee shall
receive a Salary, payable in such regular intervals as shall be
determined by the Employer, which shall be at the rate of U.S. $220,000
per year ("Salary).
2. CONFIRMATION
Except as amended hereby, the Agreement continues in full force and
effect as of the date hereof.
This Amendment may be executed in as many counterparts as may be necessary and
by facsimile, each of such counterparts together will constitute one and the
same instrument and notwithstanding the date of execution will be deemed to bear
the date as of the day and the year first above written.
GENETRONICS, INC. EMPLOYEE
By: /s/ Xxxxxx X. Xxxxxxx By:/s/ Xxxx X. Xxxxxxxx
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Xxxxxx X. Xxxxxxx Xxxx X. Xxxxxxxx
Chairman and CSO
