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EXHIBIT I
INNOTECH, INC.
0000 XXXXXXX XXXX
XXXXXXX, XXXXXXXX 00000
October 16, 1996
Xx. Xxxxxx X. Xxxx
0000 Xxxxxx Xxx Xxxx
Xxxxxxx, Xxxxxxxx 00000
Dear Xx. Xxxx:
This letter will confirm our agreement to amend your Employment Agreement,
dated as of March 2, 1994, as modified by letter agreements between you and us
dated February 23, 1995, August 23, 1995 and October 2, 1995 (collectively, the
"Agreement"), as follows:
Section 2.1 of the Agreement is hereby modified to increase your Base
Salary (as defined in the Agreement) to $190,000 effective August 14, 1996.
Section 3.3.2(i) of the Agreement is hereby amended in its entirety as
follows:
(i) pay executive, in a lump sum, $190,000, with such amount to be
paid within sixty (60) days of the termination of the Employment Period;
Except as hereby modified, the Agreement remains in full force and effect.
Please acknowledge your agreement with the foregoing by signing the
enclosed copy of this letter in the space provided and returning it to us.
Very truly yours,
INNOTECH, INC.
By: /s/ XXXXXX X. XXXXXXXXXX
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Xxxxxx X. Xxxxxxxxxx
President
AGREED TO AND ACCEPTED
/s/ XX. XXXXXX X. XXXX
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Xx. Xxxxxx X. Xxxx
