EXHIBIT 10.11
FIRST AMENDMENT TO
EMPLOYMENT AGREEMENT
THIS FIRST AMENDMENT TO EMPLOYMENT AGREEMENT (this "Amendment"), dated this 22nd
day of October, 1998, is made and entered into by and between Packard BioScience
Company, a Delaware corporation (the "Company"), and Xxx X. Xxxxxx (the
"Executive").
WHEREAS, the Company and the Executive entered into an employment agreement,
dated March 4, 1997 (the "Employment Agreement"); and
WHEREAS, the Company and Executive desire to amend the Employment Agreement to
provide for automatic renewals of the Employment Agreement as set forth herein.
NOW, THEREFORE, in consideration of the mutual promises contained herein, and
for other good and valuable consideration the receipt and sufficiency of which
are hereby acknowledged, the Company and Executive hereby amend the Employment
Agreement as follows:
1. Section 1 of the Employment Agreement is hereby amended by adding the
following language to the end of such Section 1:
"; provided, however, that commencing on the date two years after the date
of this Employment Agreement (the "Initial Renewal Date"), and on the first
day of each calendar month thereafter (each such date and the Initial
Renewal Date shall be hereinafter referred to as a "Renewal Date"), unless
previously terminated, the Employment Period shall be automatically
extended so as to terminate thirteen calendar months after such Renewal
Date, unless at least sixty days prior to the Renewal Date the Company
shall give notice to the Executive that the Employment Period shall not be
so extended."
2. Except as specifically amended hereby, the Employment Agreement shall
remain in full force and effect.
3. The Company and the Executive acknowledge that this Agreement supersedes
any other agreement between them with respect to the subject matter hereof,
and that this Amendment shall be incorporated into and shall form an
integral part of the Employment Agreement.
4. This Amendment may be executed in several counterparts, each of which shall
be deemed an original, and said counterparts shall constitute but one and
the same instrument.
IN WITNESS WHEREOF, the Executive has executed this Amendment and, pursuant to
the authorization of its Board of Directors, the Company has caused this
Amendment to be executed on its behalf, all as of the date first above written.
EXECUTIVE
/s/ XXX X. XXXXXX
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Xxx X. Xxxxxx
PACKARD BIOSCIENCE COMPANY
/s/ XXXXX X. XXXXXX
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Xxxxx X. Xxxxxx
President
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