AMENDMENT NO. 1 to EXECUTIVE EMPLOYMENT AGREEMENT
EXHIBIT
10.28
AMENDMENT NO. 1 to EXECUTIVE
EMPLOYMENT AGREEMENT
This
Amendment No. 1, dated as of June 18, 2010 (this “Amendment”), to the Executive
Employment Agreement, dated as of January 1, 2008 (the “Agreement”), is made by
and between Scivanta Medical Corporation, a Nevada corporation (the “Company”),
and Xxxxxx X. Xxxxxxx (the “Executive”).
WHEREAS, the Company and the
Executive desire to modify the Agreement for the mutual benefit of both
parties;
NOW, THEREFORE, in
consideration of the foregoing and the mutual covenants, undertakings and
representations contained herein, and intending to be legally bound thereby, the
Company and the Executive agree as follows:
4. The
modifications of the Agreement herein will be effective as of February 1, 2010
and will remain in effect for the duration of the Agreement unless further
modified in writing by the parties hereto.
5. The
following new paragraph is hereby added at the end of Section 7 of the
Agreement:
Effective
February 1, 2010, the Company shall pay the Executive an annual base salary of
$200,000. The Company will increase the Executive’s annual base
salary to the original $275,000 per annum upon raising sufficient capital that
will provide the Company the ability to pay the original base salary of
$275,000.
6. Other
than as specifically modified in this Amendment, all other terms, conditions and
covenants of the Agreement shall remain in full force and effect as
written.
IN WITNESS WHEREOF, the
parties hereto have duly executed this Amendment as of June 18,
2010.
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SCIVANTA
MEDICAL CORPORATION
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By:
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/s/ Xxxxx X.
XxXxxxx
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Name:
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Xxxxx
X. XxXxxxx
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Title:
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President
and Chief Executive Officer
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XXXXXX
X. XXXXXXX
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/s/ Xxxxxx X.
Xxxxxxx
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Xxxxxx
X. Xxxxxxx
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