Biolase Technology, Inc. 4 Cromwell Irvine, California 92618
Exhibit 10.2
Biolase Technology, Inc.
0 Xxxxxxxx
Xxxxxx, Xxxxxxxxxx 00000
0 Xxxxxxxx
Xxxxxx, Xxxxxxxxxx 00000
March 4, 2009
Xxxxx X. Xxxxxx
c/o Biolase Technology, Inc.
0 Xxxxxxxx
Xxxxxx, Xxxxxxxxxx 00000
c/o Biolase Technology, Inc.
0 Xxxxxxxx
Xxxxxx, Xxxxxxxxxx 00000
Re: | Amendment to Employment Agreement |
Dear Xx. Xxxxxx:
This letter agreement shall serve to amend that certain Employment Agreement, dated April 29, 2008
(the “Employment Agreement”), by and between Biolase Technology, Inc. (the “Company”) and Xxxxx X.
Xxxxxx.
Effective as of March 5, 2009, the parties agree as follows:
1. Section 1.A of the Employment Agreement is hereby deleted in its entirety and replaced with the
following:
“Executive shall serve as the Chief Executive Officer of the Company and shall report
directly to the Company’s Board of Directors (the “Board”). Executive shall perform
the responsibilities of a chief executive officer of a public company, including such
duties and functions as may be reasonably assigned to Executive from time to time by
the Board, and shall include Executive’s service as the principal financial officer
of the Company for purposes of compliance with the Xxxxxxxx-Xxxxx Act of 2002, until
such time as the Board appoints a new principal financial officer. Executive shall
comply with all proper and reasonable directives and instructions of the Board and/or
committee thereof.”
2. The following new Section 1.C is hereby added to the Employment Agreement:
“C. The Board shall appoint Executive as a member of the Board, effective as of the
Effective Date. During the Employment Period (as defined below), Executive shall
serve as a member of the Board, subject to election and reelection by the Company’s
stockholders in accordance with the Company’s Certificate of Incorporation and
Bylaws. Executive shall not be paid a fee for serving as a member of the Board. The
Company shall reimburse Executive for reasonable expenses incurred by Executive in
connection with his service as a member of the Board in accordance with the
Company’s expense reimbursement policies.”
3. Section 7.F of the Employment Agreement is hereby deleted in its entirety and replaced with
the following:
“Executive shall resign from Executive’s position as the Chief Executive Officer of
the Company and from any membership on the Board, and shall resign from all other
positions with the Company or any of its subsidiaries, effective as of the Effective
Date of Termination.”
This letter agreement amends certain terms and conditions of the Employment Agreement. All other
terms and conditions of the Employment Agreement that are not modified by this letter agreement
are hereby ratified and confirmed in all respects, and shall remain in full force and effect.
Should there be any conflict between the terms and conditions contained in this letter agreement
and the Employment Agreement, the terms and conditions of this letter agreement shall govern and
control.
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Please acknowledge your agreement to the foregoing terms and conditions by countersigning this
letter agreement in the space provided below.
Very truly yours,
BIOLASE TECHNOLOGY, INC. |
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By: | /s/ Xxxxxx X. d’Arbeloff | |||
Name: Xxxxxx X. d’Arbeloff | ||||
Chair: Chairman of the Board of Directors | ||||
ACKNOWLEDGED AND AGREED: |
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/s/ Xxxxx X. Xxxxxx | ||||
Xxxxx X. Xxxxxx | ||||
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