Exhibit 10.8
[LETTERHEAD OF NEPHROS]
AMENDMENT TO EMPLOYMENT AGREEMENT
This is an AMENDMENT (the "Amendment") to the Employment Agreement between
Nephros, Inc. ("the Company") and Xxxxxx X. Xxxxx ("Executive") dated November
21, 2002. This Amendment is dated March 17, 2003, and consists of the following
changes:
Paragraph 3(a), Base Salary, is amended as follows: The Company agrees to pay to
Executive a base salary ("Base Salary") at the annual rate of $150,000 payable
in equal installments consistent with the Company's payroll practices. On April
15, 2003, Executive's Base Salary shall increase to $225,000.
Paragraph 3(d), Base Salary Increase, is amended as follows: On July 31, 2004
(the "Anniversary Date"), the Company shall increase Executive's Base Salary by
the dollar amount of each of the six Milestone Bonuses referred to in Section
3(b)(l)-(6) above which have been achieved during the period preceding such
Anniversary Date.
IN WITNESS WHEREOF, the Company has caused this Amendment to be duly executed on
its behalf by an officer thereunto duly authorized and Executive has duly
executed this Amendment, all as of the date and year noted above.
NEPHROS, INC. EXECUTIVE
By: /s/ Xxxx X. Xxxx, MD /s/ Xxxxxx X. Xxxxx
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Xxxx X. Xxxx, MD Xxxxxx X. Xxxxx
Chairman of the Board of Directors
