EMPLOYMENT AGREEMENT AMENDMENT
EXHIBIT 10.1
EMPLOYMENT AGREEMENT
AMENDMENT
EMPLOYMENT AGREEMENT AMENDMENT effective as of
January 1, 2010 by and among Pharma-Bio Serv, Inc.(PBSV) with its principal
office at 0 Xxxx. 000, Xxxxxx, Xxxxxx Xxxx 00000 (the “Company”),
and Xxxxxxxxx Plaza, with residence in Dorado, Puerto
Rico (“Executive”) (both hereinafter “the
Parties”).
W I T N E
S S E T H:
WHEREAS, the Company has
engaged Executive as its Chief Executive Officer and desires to continue to
obtain the benefits of Executive’s knowledge, skill and ability in connection
with managing the Company and to continue to employ Executive on the terms and
conditions agreed upon in Employment Agreement dated January 25, 2006, and
subsequent amendments.
WHEREAS, PBSV desires to
extend Executive to serve as its Chief Executive Officer for six (6) additional
months starting on January 1, 2010.
NOW THEREFORE in exchange for
the mutual promises and undertakings herein, the Parties agree as
follows:
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1.
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The
Agreement dated January 25, 2006, and subsequent amendments
are hereby modified to restore Section “3. Compensation and Other
Benefits” of the Agreement dated January 25, 2006, in its
entirety.
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2.
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The
Agreement dated January 25, 2006, and subsequent amendments
are hereby modified to extend Executive’s employment term for six (6)
additional months starting on January 1,
2010.
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3.
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In
all other respects the Employment Agreement dated January 25, 2006, and
subsequent amendments shall remain in full force and effect and
unaltered.
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IN WITNESS WHEREOF, the
parties have executed this Agreement in Dorado, Puerto Rico, this 1st day of
January, 2010.
| PHARMA-BIO SERV, INC. | EXECUTIVE: | |||
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/s/
Xxxx
Xxxxxx
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/s/
Xxxxxxxxx Plaza
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Xxxx
Xxxxxx
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Xxxxxxxxx
Plaza
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