SECOND AMENDMENT TO EMPLOYMENT AGREEMENT
Exhibit 10.2
SECOND AMENDMENT TO EMPLOYMENT AGREEMENT
This Second Amendment to Employment Agreement (this “Second Amendment to Employment Agreement”) is made effective as of January 1, 2024 (the “Second Amendment Effective Date”), between Butterfly Networks, Inc. (the “Company”), and Xxxxxx XxXxxx (the “Executive”).
WHEREAS, the Company and the Executive are parties to an Employment Agreement dated as of April 21, 2023, (the “Employment Agreement”) as amended by the First Amendment to Employment Agreement dated June 5, 2023 (the “First Amendment to Employment Agreement”, and the Employment Agreement, as amended, the “Amended Employment Agreement”);
WHEREAS, Capitalized terms used herein and not otherwise defined shall have the meanings ascribed to them in the Amended Employment Agreement; and
WHEREAS, the Company and the Executive wish to further amend certain provisions of the Amended Employment Agreement by executing this Second Amendment to Employment Agreement.
NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:
“(d) Business Expenses. The Company will promptly reimburse the Executive for all reasonable business expenses incurred by the Executive in performing services hereunder, in accordance with the policies and procedures then in effect and established by the Company for its executives, including the costs incurred by the Executive in connection with business travel. The Executive’s expenses incurred in connection with Executive’s travel between his primary residence and the Company’s offices will also be reimbursable. The Executive will be permitted to fly, and will be reimbursed for, Business Class for business-related travel.”
accordance with the law as it would be interpreted and applied by the United States Court of Appeals for the Third Circuit.
[Signature page follows]
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IN WITNESS WHEREOF, the parties have executed this Second Amendment to Employment Agreement to become effective as of the Second Amendment Effective Date.
COMPANY
/s/ Xxxxxxx Xxxx
By: Xxxxxxx Xxxx
Its: EVP & CFOO
EXECUTIVE
/s/ Xxxxxx XxXxxx
Xxxxxx XxXxxx