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Exhibit 10.1
AMENDMENT TO EMPLOYMENT AGREEMENT
This Amendment to the original Employment Agreement, dated May 10,
1992, between Medex, Inc. (the "Company") and Xxxxxxx X. Xxxxxxx (the
"Employee") is hereby effective as of the date of execution herein.
Recitals
A. WHEREAS, Employee, who previously served as Vice President and acting
Chief Financial Officer, has recently been elected Senior Vice
President and Chief Financial Officer of the Company and the Company
recognizes that Employee is a valuable resource for the Company and the
Company desires to be assured of the continued service of Employee; and
B. WHEREAS, Employee has concerns about the continuation of his
employment and/or his status and responsibilities with the
Company in the event of a possible or threatened change in
control of the Company; and
C. WHEREAS, the Company is concerned about the possible effect on Employee
of the uncertainties created by any proposed or threatened change of
control, whether approved by the Board of Directors or otherwise, and
the possibility that Employee may be approached by others with
employment opportunities.
D. WHEREAS, Employee is willing to continue to serve as Senior Vice
President and Chief Financial Officer but desires assurance that in the
event of any such change in control, regardless of its approval by the
Board of Directors, he will continue to have the responsibility and
status he has earned.
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THEREFORE, in consideration of the foregoing and other valuable
consideration, the parties agree to amend the original Employment Agreement as
follows:
1. Delete Section 1(e) of the Employment Agreement.
2. All other recitals, terms and conditions as set forth in the original
Employment Agreement dated May 10, 1992, shall remain unchanged and in
full force and effect.
IN WITNESS WHEREOF, this Agreement has been executed on the 21 day of
September, 1996.
Medex, Inc.
By: /s/ Xxxxxxx X. Xxxxx
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Xxxxxxx X. Xxxxx
Its: President & Chief
Executive Officer
/s/ Xxxxxxx X. Xxxxxxx
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Xxxxxxx X. Xxxxxxx, Employee