THIS AMENDMENT TO EMPLOYMENT AGREEMENT dated for reference the 1st day of October, 2009 (the “Amendment”). BETWEEN:
Exhibit 4.20
THIS
AMENDMENT TO EMPLOYMENT
AGREEMENT dated for reference the 1st day of October, 2009 (the
“Amendment”).
BETWEEN:
(the
“Company”)
AND:
XXXXXXX X.
CHICK
(the
“Executive”)
WHEREAS:
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A.
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the
Executive and Rivex Pharma Inc. entered into an employment agreement dated
for reference July 25, 1997 (the “Employment
Agreement”);
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|
B.
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Rivex
Pharma Inc. and Helix BioPharma Corp. subsequently amalgamated to form the
Company such that the Employment Agreement is now between the Company and
the Executive;
|
|
C.
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the
parties wish to amend the Employment Agreement, upon the terms set out in
this Amendment;
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THEREFORE in consideration of
the recitals, the following covenants and the payment of one dollar made by each
party to the other, the receipt and sufficiency of which is acknowledged by each
party, the parties agree on the following terms:
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1.
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The
third paragraph of the Employment Agreement is deleted and replaced with
the following, with effect on and after December 17,
2008:
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“Title: VP
Product Distribution”
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2.
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The
first clause after the third paragraph of the Employment Agreement is
deleted and replaced with the following, with effect on and after January
1, 2008:
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“ ● Base
Salary $122,500”
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3.
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The
parties confirm that, as of August 1, 2005, the performance compensation
is 1.5% of the first $1.5M of gross sales, and 2% of gross sales
thereafter.
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4.
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All
other provisions of the Employment Agreement shall remain in full force
and effect, except that where this Amendment may be in conflict with the
provisions of the Employment Agreement, then this Amendment shall
govern.
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In Witness
Whereof, the parties hereto have duly executed this Amendment as of the
day and year first above written.
Per:
/s/ Xxxxxx X.
Xxxxx
Authorized
Signatory
/s/ Xxxxxxx X.
Chick
XXXXXXX
X. CHICK
