EXHIBIT 10.11
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AMENDMENT TO KEY EMPLOYEE AGREEMENT
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THIS AMENDMENT dated October 30, 2001 to the KEY EMPLOYEE AGREEMENT
effective as of April 30, 1996 by and between DELCATH SYSTEMS, INC., a Delaware
corporation with its principal offices at 0000 Xxxxxx Xxxxxx, 0xx Xxxxx,
Xxxxxxxx, Xxxxxxxxxxx 00000 (the "Company") and XXXXXX XXXXXXXXXXXX, M.D.
residing at 000 Xxxxxx Xxxxxx, Xxxxxxxx, XX 00000 (hereinafter referred to as
the "Employee").
For good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, the parties agree as follows:
1. Exhibit A, Section 2(a) of the Key Employee Agreement is amended
by deleting it in its entirety and inserting in place thereof the
following:
"(a) Base Salary. Beginning December 1, 2001, your Base Salary
shall be $140,000 per annum, payable in accordance with the
Company's payroll policies, and subject to increases thereafter as
determined by the Company's Board of Directors or Executive
Committee."
2. In all other respects, the Key Employee Agreement remains in full
force and effect.
IN WITNESS WHEREOF, the Company has caused this Amendment to the Key
Employee Agreement to be signed by its duly authorized officer, and Employee has
hereto set his hand and seal as of the day and year first hereinabove written.
EMPLOYEE: EMPLOYER:
DELCATH SYSTEMS, INC.
/s/ Xxxxxx Xxxxxxxxxxxx By: /s/ Xxxxxx Xxxxxx
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Xxxxxx Xxxxxxxxxxxx, M.D. Xxxxxx Xxxxxx, Controller
