EXHIBIT 10.4
AMENDMENT NO. 2 TO EMPLOYMENT AGREEMENT
THIS AMENDMENT NO. 2 TO EMPLOYMENT AGREEMENT (the "Amendment") is made
and entered into at Santa Barbara, California, on the date hereinafter set forth
by and between XXXX X. XXXXXXXX (hereinafter referred to as the "Employee") and
PDT, INC., a Delaware Corporation (hereinafter referred to as the "Employer").
WHEREAS:
A. The Employer and the Employee are parties to an Employment Agreement
effective as of MARCH 20, 1995, and Amendment No. 1 thereto (the "Employment
Agreement").
B. The parties hereto wish to amend the Employment Agreement in certain
respects.
NOW, THEREFORE, in consideration of the premises, promises and
representations hereinafter contained, it is agreed as follows:
1. Effective DECEMBER 9, 1996, the expiration dates of the Options listed
on Exhibit B attached hereto are amended to be ten (10) years from the date of
grant, or upon termination of employment, which ever occurs first.
2. Effective JANUARY 1, 1997, the section entitled EMPLOYEE COMPENSATION on
Exhibit A to the Employment Agreement is hereby amended to read as follows:
EMPLOYEE COMPENSATION
ONE HUNDRED EIGHT THOUSAND ONE HUNDRED TWENTY DOLLARS ($108,120) PER ANNUM.
3. In all other respects, the Employment Agreement is hereby ratified,
confirmed and approved in its entirety.
SIGNATUARES ON NEXT PAGE
IN WITNESS WHEREOF, the parties hereto have executed this Amendment on
this 10th day of January, 1997.
EMPLOYER:
PDT, INC.
a Delaware Corporation
By: /S/ XXXX X. XXXXXXX, PH.D.
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Xxxx X. Xxxxxxx, Ph.D.
C.E.O. and Chairman
EMPLOYEE:
/S/ XXXX X. XXXXXXXX
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Xxxx X. Xxxxxxxx
