Exhibit 10.21
AMENDMENT
TO
EXECUTIVE EMPLOYMENT CONTRACT
This Agreement is made and entered into on July 1, 1999, by and between OXiGENE,
Inc. a Delaware Corporation with its principal office at Xxx Xxxxxx Xxxxx, Xxxxx
000, Xxxxxx, XX 00000 ("the Company"), and Xxxxx Xxxxxxxxxx, Ph.D., M.D., an
adult resident of Sweden ("the Executive").
WHEREAS, the Company and the Executive have entered into an Executive Employment
Agreement dated October 9, 1995 and an undated Addendum thereto,
WHEREAS, the Company is at a phase where the work the Executive performs with
respect to commercializing the pharmaceutical products will increase,
WHEREAS, the Company's focus and the duties of the Executive has shifted towards
the United States,
WHEREAS, the work the Executive performs with respect it investor relations has
increased and become more important to the Company, and
WHEREAS, the parties agree upon that the compensation the Executive has received
up to this date is to low for the services to be performed in comparison with
executives of comparable pharmaceutical companies in the United States.
NOW, THEREFORE the parties agree as follows:
- Section 2 (a) ("Base Salary") of the Executive Employment Agreement is
Amended by replacing the minimum amount "$ 50,000.00" with $ 225,000.00.
In all other aspects, the Executive Employment Agreement with the change made in
the Addendum thereto shall be unchanged and remain in full force and effect.
This amendment has been drawn in to originals, of which the parties have taken
one each.
OXiGENE, Inc. Executive
By:/s/ Xx Xxxxxxx /s/ Xxxxx Xxxxxxxxxx
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Xx Xxxxxxx Xxxxx Xxxxxxxxxx, Ph.D., M.D.
Title: Chief Financial Officer
