Exhibit 10.3
AMENDMENT NO. 3 TO EMPLOYMENT AGREEMENT
THIS AMENDMENT NO. 3 TO EMPLOYMENT AGREEMENT (the "Amendment") is made
and entered into at Santa Barbara, California, on the date hereinafter set forth
by and between XXXX X. XXXXXXXX (hereinafter referred to as the "Employee") and
MIRAVANT MEDICAL TECHNOLOGIES, a Delaware Corporation (hereinafter referred to
as the "Employer").
WHEREAS:
A. The Employer and the Employee are parties to an Employment Agreement
effective as of March 20, 1995, and Amendment No. 1 thereto (the "Employment
Agreement").
B. The parties hereto wish to amend the Employment Agreement in certain
respects.
NOW, THEREFORE, in consideration of the premises, promises and
representations hereinafter contained, it is agreed as follows:
1. Effective JANUARY 1, 1998, the section entitled EMPLOYEE
COMPENSATION on Exhibit A to the Employment Agreement is hereby amended to read
as follows:
EMPLOYEE COMPENSATION
ONE HUNDRED FORTY THOUSAND DOLLARS ($140,000) per annum.
2. In all other respects, the Employment Agreement is hereby ratified,
confirmed and approved in its entirety.
SIGNATUARES ON NEXT PAGE
IN WITNESS WHEREOF, the parties hereto have executed this Amendment on
this 10th day of January, 1998.
EMPLOYER:
MIRAVANT MEDICAL TECHNOLOGIES
a Delaware Corporation
By: /s/ Xxxx X. Xxxxxxx, Ph.D.
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Xxxx X. Xxxxxxx, Ph.D.
C.E.O. and Chairman
EMPLOYEE: /s/ Xxxx X. Xxxxxxxx
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Xxxx X. Xxxxxxxx
