Amendment to Section 2(a) of the Agreement. Section 2(a) of the Agreement is hereby deleted in its entirety and replaced with the following:
Amendment to Section 2(a) of the Agreement. The second sentence of Section 2.A of the Agreement is hereby amended to read as follows: “Compensation to be paid hereunder, inclusive of all reimbursable expenses estimated at 1.5% of the total design fee, shall not exceed THREE HUNDRED TWENTY-SIX THOUSAND THREE HUNDRED SEVENTY TWO DOLLARS AND NO CENTS ($326,372.00); unless such amendment is amended in accordance with the amendment requirements of this Contract.”
Amendment to Section 2(a) of the Agreement. Section 2(a) of the Agreement is hereby amended by the addition of the following as the final sentence thereof: “Expenses incurred by the Service Provider and payment received from the Service Provider shall be allocated to the Service Provider in conformity with customary insurance accounting practices.”
Amendment to Section 2(a) of the Agreement. Section 2(a) of the Agreement is hereby amended and restated to read in its entirety as follows:
Amendment to Section 2(a) of the Agreement. Section 2(a) of the Agreement is hereby amended to add the following immediately after Section 2(a)(v): “provided, however, that prior to any termination of employment for Good Reason, the Executive must first provide written notice to the Association (or its successor in interest) within ninety (90) days following the initial existence of the condition, describing the existence of such condition, and the Association shall thereafter have the right to remedy the condition within thirty (30) days of the date the Association received the written notice from the Executive. If the Association remedies the condition within such thirty (30) day cure period, then no Good Reason shall be deemed to exist with respect to such condition. If the Association does not remedy the condition within such thirty (30) day cure period, then the Executive may deliver a Notice of Termination for Good Reason at any time within sixty (60) days following the expiration of such cure period.”
Amendment to Section 2(a) of the Agreement. Section 1 of the Agreement is amended by deleting it in its entirety and replacing it with the following new Section 1:
Amendment to Section 2(a) of the Agreement. Section 2(a) of the Agreement shall be deleted in its entirely and the following shall be inserted in lieu thereof and shall constitute the new Section 2(a) of the Agreement: Subject to Section 2(b) hereof, a “Severance Compensation Trigger” shall occur in the event that during the period commencing on the date on which a Change in Control first occurs and ending on the date thirty-six (36) months thereafter Employee’s employment is terminated as follows:
Amendment to Section 2(a) of the Agreement. The base salary set forth in Section 2(a) of the Agreement shall be amended to reflect an increase from the annual rate of $213,726 to $250,000, subject to payroll withholdings and deductions (“Increased Base Salary”), with such increase to take effect as of the date the Merger is completed and Executive’s title changes from the Vice President, Finance, of Carbylan to the Vice President, Finance, of the Company (“Merger Closing”).
