1
EXHIBIT 10.12
AMENDMENT TO EMPLOYMENT AGREEMENT
THIS AMENDMENT TO EMPLOYMENT AGREEMENT (the "Amendment"), by and
between Medical Science Systems, Inc., a Texas corporation (the "Corporation"),
and Xx. Xxxxxxx X. Xxxxxx ("Employee"), is effective this 1st day of August,
1997. The Corporation and Employee are hereinafter sometimes referred to,
individually and collectively, as a "Party" or the "Parties".
WHEREAS, the Corporation and Employee have previously entered into that
certain employment agreement dated January 1, 1996 (the "Agreement"); and
WHEREAS, the Corporation and Employee desire to amend the terms and
conditions of the Employee's employment with the Corporation.
NOW THEREFORE, in consideration of the promises and of the mutual
covenants and agreements set forth below, the Parties hereto agree to amend the
Agreement as follows:
The final clause of the first paragraph of section three (COMPENSATION)
shall be changed to read ". . . , the Corporation will pay Employee a salary
(the "Salary") at an annual rate of $135,000 per year during the five (5) month
period from August through December of 1997, and at an annual rate of $165,000
for the one-year period from January 1, 1998 through December 31, 1998. For each
fiscal year commencing after December 31, 1998, the Board of Directors (or a
committee thereof) may increase (but not decrease) Employee's annual salary,
award bonuses and stock award based upon the compensation of comparable officers
at similarly situated companies.
This Amendment is intended to and shall only effect the change set forth
in the preceding paragraph. No other change, amendment, waiver, discharge or
termination shall be effected except by a subsequent written instrument.
IN WITNESS WHEREOF, the Parties hereto have executed this Amendment on
the day and year first above written.
DATED: August 1, 1997 MEDICAL SCIENCE SYSTEMS, INC.,
a Texas corporation
By: ___________________________
Xxxx X. Xxxxx
President
EMPLOYEE
By: ___________________________
Xx. Xxxxxxx X. Xxxxxx
