AMENDMENT TO EMPLOYMENT AGREEMENT
This Amendment to Employment Agreement is made and entered into by
EMBREX, INC., a North Carolina corporation, ("Employer") and Xxxxxxx X. Xxxxxxxx
("Employee"). Employer and Employee may be collectively referred to as "the
parties".
WHEREAS, the parties entered into an Employment Agreement dated January
1, 1990 (the "Agreement");
WHEREAS, Employee continues to be employed by Employer; and WHEREAS,
the parties both desire to amend the prior Employment
Agreement as set forth below.
NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties agree to amend their
prior Agreement as follows:
The Agreement is hereby amended by deleting Xxxxxxxxx 00, Xxxxxxxxxxx
and Liquidated Damages and inserting in lieu thereof the following:
12. SEVERANCE. If Employer terminates Employee's employment
under this Agreement without cause, then Employee shall be
entitled to receive from Employer an amount equal to 18 months
of Employee's then current salary, payable in 18 equal monthly
installments, without interest, commencing one month after
termination.
IN WITNESS WHEREOF, the parties have executed this Amendment
to Employment Agreement this the 21st day of May, 1996.
Xxxxxxx X. Xxxxxxxx
Employee
EMBREX, INC.
By:X.X. Xxxxxx
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