FIRST AMENDMENT TO
EMPLOYMENT AGREEMENT
This First Amendment, made and entered into effective the 21st day of
December, 1993, by and between Oxboro Medical International, Inc., a Minnesota
corporation (the "Company"), and XXXXX X. XXXXXXXXX (the "Executive").
W I T E S S E T H:
WHEREAS, the Executive and the Company entered into an Employment Agreement
effective April 1, 1993 (the "Employment Agreement"); and
WHEREAS, references are made throughout the Employment Agreement to a
"Deferred Compensation Agreement" by and between the Executive and the Company
effective as of April 1, 1993 (the "Deferred Compensation Agreement"); and
WHEREAS, the Deferred Compensation Agreement was never executed by the
Executive and the Company and is of no force or effect; and
WHEREAS, the Executive and the Company now desire to amend the Employment
Agreement by deleting all references to the Deferred Compensation Agreement;
WHEREAS, the parties also desire to identify and list the "Products" that
are referenced at Section V(f)(i) of the Employment Agreement;
NOW, THEREFORE, in consideration of the premises and the mutual promises
hereinafter contained, the parties hereto agree as follows:
1. All references to the Deferred Compensation Agreement (as
identified at Section V(b)(ii)(B) of the Employment Agreement)
are hereby deleted from the Employment Agreement, effective as
of April 1, 1993, and all references in the Employment
Agreement to the Deferred Compensation Agreement shall be null
and void and of no force or effect.
2. The products listed on the attached Exhibit A, which is hereby
incorporated by reference herein and made a part hereof,
constitute all of the items included under the term "PRODUCTS"
as set forth in Section V(f)(i) of the Employment Agreement.
Exhibit A contains no items that constitute "Additional
Products" as defined in Section V(f)(ii) of the Employment
Agreement.
3. Except as hereby amended, the Employment Agreement
between the parties remains in full force and effect.
IN WITNESS WHEREOF, the parties have executed this First Amendment to the
Employment Agreement on the day and year first above written.
OXBORO MEDICAL INTERNATIONAL, INC.
By: /s/ Xxxxxx X. Xxxxxxxxx
Director
By: /s/ Xxxx X. Xxxxxx
Director
EXECUTIVE
/s/ Xxxxx X. Xxxxxxxxx
Xxxxx X. Xxxxxxxxx
EXHIBIT A
FIRST AMENDMENT TO
EXCLUSIVE LICENSE AND ROYALTY AGREEMENT
1. Dockpole Xxx Xxxxxx
2. Lure Hang (Deluxe)
3. Tray Liner
4. Net Holder
5. Accessory Pad (single)
6. Utility Straps
7. Hook Sheath
8. Action Sheath
9. Rattlin Rig
10. Lure Hang (Supreme)
11. Accessory Pad (double)
12. Weedless Rig
13. Colored Hooks
14. Action Hooks
15. Tackle Box Towel
16. Cork Screw Swivel
17. Scent Sleeve
18. Rod Tip Protector
19. Tackle Knife
20. Hook Protectors
21. Rattlin Rig (Deluxe)
22. Sun Shield
23. Catch and Release Swivel
24. Catch and Release Swivel No. II (no add-on)
25. Bait Container Holder
26. Mini Rod Holders (no add-on)
27. Stor All
28. Shore Track (Jet Ski Lift)
29. Leech Hook
30. Walk Way
31. Snowmobile Sled Mover
32. Dock Steps
33. Xxxxx Stor
34. Tray Liner (Deluxe) (no add-on)
35. Hawg Pad
36. Hook Holder (Rod Strap)
37. Worm Blower
38. Hook/Swivel
39. Duck Decoy Raft
40. Accessory Holder (add-on -- like shot shell holder)
41. Marker Buoy Holder
42. Dock Bumper Bracket
