EXHIBIT 10.38
ADDENDUM TO SEPARATION
OF EMPLOYMENT AGREEMENT
BETWEEN XXXXXX X. XXXXXXXXXXX, III (EMPLOYEE)
AND THE MED-DESIGN CORPORATION
This Agreement made this 19th day of May, A.D. 2006 by and between
Xxxxxx X. Xxxxxxxxxxx, III (Employee) and The Med-Design Corporation.
WHEREAS, previously The Med-Design Corporation communicated with
Employee in written form and presented to Employee a Separation Agreement and
General Release and related documents. All these documents are incorporated by
reference, reaffirmed and ratified and attached to this document.
Said documents were executed by the Corporation and Employee on May 18,
2006.
WHEREAS, the documentation anticipates that the termination date would
be May 19, 2006 if a favorable vote of Shareholders was secured by that date;
and
WHEREAS, on May 19, 2006 the Shareholders Meeting was adjourned until
June 2, 2006.
NOW THEREFORE, with full knowledge of the contents of this Agreement
with the intent to be thereby legally bound Employee and Corporation agree as
follows:
The document signed by Employee May 18, 2006 is hereby ratified and
reaffirmed. The anticipated termination date subject to shareholder approval is
June 2, 2006. Employee has executed said Agreement and the rescission. Provided
by federal, state or local law is by agreement provided to Employee between the
date of signing said document and June 2, 2006. If Company receives no written
notice of rescission prior to June 2, 2006 all said rights are waived and
abandoned by Employee.
/s/ Xxxxxx X. Xxxxxxxxxxx
(Employee)
Date: May 19, 2006
THE MED-DESIGN CORPORATION
BY: /s/ Xxxxxxxx Xxxxx
TITLE: C.F.O.
DATE: 5/19/06
MDC RESEARCH LTD.
BY: /s/ Xxxxxx Xxxxxxxxxxx
TITLE:
DATE:
