Cell & Molecular Technologies, Inc.
000 Xxxxxxxx Xxxxxx
Xxxxxxxxxxxx, XX 00000
May 29, 1998
Xx. Xxxxxx Xxxxxxx
000 Xxxx Xxxx Xxxxxx
Xxxxxxxxxx, XX 00000
Dear Xx. Xxxxxxx:
Reference is made to the Employment Agreement dated May 22, 1997, between
you and Cell & Molecular Technologies, Inc. (the "Employment Agreement").
This letter confirms that, effective as of June 1, 1998, for good and
valuable consideration, the receipt and sufficiency of which are hereby mutually
acknowledged, and the provisions of Section 6(b)(2) of the Employment Agreement
notwithstanding, Section 5(a) of the Employment Agreement is hereby amended to
reduce the Base Salary (as such term is defined in the Employment Agreement) to
One Hundred Thirty-Five Thousand Dollars ($135,000).
Except as otherwise provided hereby, the Employment Agreement, as hereby
amended, shall remain in full force and effect from and after the date hereof.
Very truly yours,
CELL & MOLECULAR TECHNOLOGIES, INC.
By: /s/ XXXXXX X. XXXXXX
-------------------------------
Name: Xxxxxx X. Xxxxxx
Title: President
AGREED AND ACCEPTED:
MAY 29, 1998:
/s/ XXXXXX XXXXXXX
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XXXXXX XXXXXXX
