FIRST AMENDMENT TO EXECUTIVE CHAIRMAN’S AGREEMENT
FIRST AMENDMENT TO EXECUTIVE CHAIRMAN’S AGREEMENT
This First Amendment to Executive Chairman’s Agreement (the “Amendment”) is dated this 11th day of May 2016 between VolitionRx Limited, a Delaware corporation (the “Company”), and Xx. Xxxxxx Xxxxxxx Xxxxxxx, an individual resident in the United Kingdom (“Xx. Xxxxxxx”).
RECITALS
(A)
This Amendment is supplemental to the Executive Chairman’s Agreement between the Company and Xx. Xxxxxxx dated March 31, 2015 (the “Agreement”);
(B)
The parties hereto desire by this Amendment to increase the fees payable to Xx. Xxxxxxx under the terms of the Agreement;
AMENDMENT
NOW, THEREFORE, for good and valuable consideration, the sufficiency and receipt of which is hereby acknowledged, the parties agree to increase the fees payable to Xx. Xxxxxxx under the terms of the Agreement as follows:
1.
Section 3(a) of the Agreement is hereby modified and shall now read as follows:
“Fees. Subject to adjustment from time to time at the discretion of the Board or a committee designated by the Board, effective for periods after May 1, 2016, Xx. Xxxxxxx shall receive £10,000.00 GBP per month. The Fees payable to Xx. Xxxxxxx are inclusive of any duties performed by the individual as a director for any associated companies of the Company. The Fees shall be paid directly into your nominated bank account at the end of each calendar month.”
2.
Except as expressly amended hereby, all terms of the Agreement shall remain unchanged and in full force and effect.
IN WITNESS WHEREOF, the Company has caused this Amendment to be duly executed by its duly authorized officer, and Xx. Xxxxxxx has hereunto set his hand, on the date first set forth above.
VOLITIONRX LIMITED
XX. XXXXXX XXXXXXX XXXXXXX
/s/ Xxxxxxx Xxxxxxxx
/s/ Xxxxxx Xxxxxxx Xxxxxxx
Xxxxxxx Xxxxxxxx
Xx. Xxxxxx X. Xxxxxxx
Chief Executive Officer and Director
