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AMENDMENT NO. 12 TO EMPLOYMENT AGREEMENT
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THIS AMENDMENT NO. 12 TO EMPLOYMENT AGREEMENT (the "Amendment") is made and
entered into at Santa Barbara, California, on the date hereinafter set forth by
and between XXXXX X. XXX (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 February 1, 1991, and Amendments No. 1 through 11 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, 1999, the section entitled EMPLOYEE COMPENSATION on
Exhibit A to the Employment Agreement is hereby amended to read as follows:
EMPLOYEE COMPENSATION
TWO HUNDRED FIFTY THOUSAND DOLLARS ($250,000) per annum.
2. In all other respects, the Employment Agreement is hereby ratified,
confirmed and approved in its entirety.
SIGNATURES ON NEXT PAGE
IN WITNESS WHEREOF, the parties hereto have executed this Amendment on this
26th day of January, 1999.
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/ Xxxxx X. Xxx
Xxxxx X. Xxx
