ORTHOFIX LETTERHEAD] November 20, 2007
EXHIBIT
10.1
[ORTHOFIX
LETTERHEAD]
November
20, 2007
Xx.
Xxxxxxx X. Xxxxx
C/O
BREG,
Inc.
0000
Xxxxxxxx Xxx
Xxxxx,
XX
00000
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Re:
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Amendment
to Employment Agreement
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Dear
Xx.
Xxxxx:
Reference
is made to that certain
Employment Agreement dated November 20, 2003 (the “Employment Agreement”)
by and between you and Orthofix International N.V., a company organized under
the laws of the Netherlands Antilles (the “Company”). By
execution of this letter agreement, the parties hereby amend the Employment
Agreement such that the text of Section 2 of the Employment Agreement is
hereby
deleted in its entirety and replaced with the following:
“2. Term.
ORTHOFIX
hereby agrees to employ
Employee through December 31, 2008, unless sooner terminated as provided
in
Sections 6 and 7 of this Agreement. In addition, if a Change of
Control (as defined in Section 8(d)) occurs when less than one year remains
prior to the expiration of Employee’s term of employment hereunder, such term
shall be automatically extended until the first anniversary of the date on
which
the Change of Control first occurred. The period during which
Employee is employed by ORTHOFIX hereunder is referred to herein as the
“Employment Period.””
Except
as
expressly modified and superseded by this letter agreement, you and the Company
each hereby (a) ratify and confirm the Employment Agreement, (b) agree that
the
same shall continue in full force and effect, and (c) agree that the same
are
the legal, valid and binding obligations of you and Company, enforceable
against
you and the Company in accordance with its respective terms. This
letter agreement may be executed in two or more counterparts, any one of
which
need contain the signature of only one party but all of which together shall
constitute one and the same instrument.
(Remainder
of page intentionally left blank)
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If
you
are in agreement with the foregoing, please so indicate by affixing your
signature where indicated below.
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ORTHOFIX
INTERNATIONAL N.V.
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By:
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/s/
Xxxx X. Xxxxxxxxx
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Xxxx
X. Xxxxxxxxx
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Chief
Executive Officer
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Agreed
to this ___ day of November, 2007.
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/s/
Xxxxxxx X. Xxxxx
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Xxxxxxx
X. Xxxxx
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