AMENDMENT TO EMPLOYMENT AGREEMENT
EXHIBIT 10.1
AMENDMENT TO EMPLOYMENT AGREEMENT
EFFECTIVE DATE: February 8, 2006
PARTIES:
|
CABG Medical, Inc. | (“Company”) | ||
| Xxxxxx X. Xxxxxxxxx | (“Employee”) |
WHEREAS, Company and Employee are parties to that certain Employment Agreement dated December
31, 2004 (hereinafter “Employment Agreement”); and
WHEREAS, Company and Employee desire to amend certain portions of the Employment Agreement.
NOW, THEREFORE, Company and Employee agree that effective as of the date and year written
above the following Amendment shall be made a part of the Employment Agreement:
1. Section 3 of the Employment Agreement shall be deleted in its entirety and replaced with the
following:
3. Term. The term of Employee’s services hereunder shall commence on the date of
this Agreement. The Employee shall be employed on an “at will” basis. Either party may
terminate the employment relationship created by this agreement for any reason upon notice
to the other party. Because the employment relationship is “at will,” the Employee shall
have no right to continued employment, and the Company may terminate the Employee for any
reason (other than because of Employee’s race, sex, age or other legally protected category)
at any time. If this Agreement is terminated by the Company, Employee shall not be entitled
to any severance benefits. No document or statement (oral or written) by the Company or its
officers will create a right to continued employment or a right to severance benefits for a
terminated employee.
This Amendment shall be attached to and be a part of the Employment Agreement between CABG
Medical, Inc. and Xxxxxx X. Xxxxxxxxx dated December 31, 2004.
Except as set forth herein, the Employment Agreement shall remain in full force without
modification.
In consideration of the mutual covenants contained herein, the parties have executed this
Amendment effective as of the date and year above written.
| CABG MEDICAL, INC. | ||
| /s/ Xxxx X. Xxxxxx | ||
| By: Xxxx X. Xxxxxx | ||
| Its: President & CFO | ||
| /s/ Xxxxxx X. Xxxxxxxxx | ||
| XXXXXX X. XXXXXXXXX |
