EXHIBIT 10.11
FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
This First Amendment to Employment Agreement ("Amendment"), effective as of
July 28, 2000, except where indicated, is made by and between NANOGEN, INC., a
Delaware corporation (the "Company"), and XXXXXX XXXXXXXX (the "Executive").
RECITALS
WHEREAS, the Company and Executive have entered into an Employment
Agreement, dated October 29, 1999 (the "Employment Agreement"); and
WHEREAS, the Company and Executive wish to amend the Employment Agreement
as described herein.
NOW, THEREFORE, the Company and Executive, in consideration of the mutual
promises set forth herein, agree as follows:
TERMS
1. RENEWAL. In Article I, Section B RENEWAL, the last sentence of the
second paragraph shall be amended to decrease the number of months
from "18" to "6", during which the Executive shall be paid his salary
and benefits after termination as described therein.
2. TITLE/RESPONSIBILITIES. In Article II TITLE/RESPONSIBILITIES,
Executive's title, effective as of September 1, 2000, shall be amended
to "President, Chief Financial Officer and Treasurer," from "Senior
Vice President, Chief Financial Officer and Treasurer."
3. SECTION 280G. In Article III, Section E SECTION 280G relating to
restrictions on payments made pursuant to the Employment Agreement
that may be considered "excess parachute payments" during Change of
Control events as defined therein, shall be deleted in its entirety.
4. REMAINDER OF AGREEMENT. The other terms and conditions contained in
the Employment Agreement shall remain in effect pursuant to the
Employment Agreement and such terms and conditions, where applicable,
shall also govern this Amendment.
5. GOVERNING LAW. This Amendment shall be construed in accordance with
the laws of the State of California, notwithstanding its conflicts of
law provisions.
6. EXECUTIVE ACKNOWLEDGMENT. Executive acknowledges (a) that he has
consulted with or has had the opportunity to consult with independent
counsel of his own choice concerning this Amendment, and has been
advised to do so by the
Company, and (b) that he has read and understands this Amendment, is
fully aware of its legal effect, and has entered into it freely based
on his own judgment.
7. COUNTERPARTS. This Amendment may be executed in one or more
counterparts, all of which taken together constituted one and the same
agreement.
Executed by the parties as of the day and year first above written.
NANOGEN, INC.
By: /s/ XXXXXX X. XXXXXXXX
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Xxxxxx X. Xxxxxxxx
Chairman and Chief
Executive Officer
EXECUTIVE
/s/ XXXXXX XXXXXXXX
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Xxxxxx Xxxxxxxx