Exhibit 10.32
SECOND AMENDMENT TO
EMPLOYMENT AGREEMENT
THIS SECOND AMENDMENT TO EMPLOYMENT AGREEMENT (this "Amendment"), dated this
11th day of June, 2001, is made and entered into by and between Packard
BioScience Company, a Delaware corporation (the "Company"), and Xxx X. Xxxxxx
(the "Executive").
WHEREAS, the Company and the Executive entered into an employment agreement,
dated March 4, 1997 (the "Employment Agreement"); and
WHEREAS, the Company and Executive desire to amend the Employment Agreement to
extend the term of the Employment Agreement as set forth herein.
NOW, THEREFORE, in consideration of the mutual promises contained herein, and
for other good and valuable consideration the receipt and sufficiency of which
are hereby acknowledged, the Company and Executive hereby amend the Employment
Agreement as follows:
1. Section 1 of the Employment Agreement is hereby amended by adding the
following language to the end of such Section 1:
"; provided, however, that commencing on the date two years after the date
of this Employment Agreement (the "Initial Renewal Date"), and on the
first day of each calendar month thereafter (each such date and the
Initial Renewal Date shall be hereinafter referred to as a "Renewal
Date"), unless previously terminated, the Employment Period shall be
automatically extended so as to terminate twenty-five (25) calendar months
after such Renewal Date, unless at least sixty days prior to the Renewal
Date the Company shall give notice to the Executive that the Employment
Period shall not be so extended."
2. Except as specifically amended hereby, the Employment Agreement shall
remain in full force and effect.
3. The Company and the Executive acknowledge that this Agreement supersedes
any other agreement between them with respect to the subject matter
hereof, and that this Amendment shall be incorporated into and shall form
an integral part of the Employment Agreement.
4. This Amendment may be executed in several counterparts, each of which
shall be deemed an original, and said counterparts shall constitute but
one and the same instrument.
IN WITNESS WHEREOF, the Executive has executed this Amendment and, pursuant to
the authorization of its Board of Directors, the Company has caused this
Amendment to be executed on its behalf, all as of the date first above written.
EXECUTIVE
/s/ Xxx X. Xxxxxx
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Xxx X. Xxxxxx
PACKARD BIOSCIENCE COMPANY
/s/ Xxxxx X. Xxxxxx
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Xxxxx X. Xxxxxx, Chairman and Chief Executive Officer
