Biospherics Incorporated Exhibit 10.5.1
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November 17, 1997
Xx. Xxxxxxx X. Xxxxx
Chairman, President & CEO
Biospherics Incorporated
00000 Xxxxxx Xxxxx Xxxxx
Xxxxxxxxxx, XX 00000
Subject: Amendment to the November 17, 1995, Employment Agreement by and between
Xxxxxxx X. Xxxxx and Biospherics Incorporated
Dear Xxx:
This letter will serve to document the unanimous recommendation of the
Compensation Committee of Biospherics Incorporated to extend the above
referenced agreement to December 31, 1999, and to reflect an annual salary of
$205,000, effective January 1, 1998. All other terms and conditions in the
agreement remain the same.
This recommendation was approved by the Board of Directors of Biospherics
Incorporated on November 17, 1997.
Very truly yours,
/s/ Xxxxxx X. Xxxxxxx
Xxxxxx X. Xxxxxxx, Chair
Compensation Committee
ACKNOWLEDGED AND ACCEPTED:
/s/ Xxxxxxx X. Xxxxx
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Xxxxxxx X. Xxxxx
Chairman, President and CEO
November 17, 1997
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Date
