Amendment to Employment Agreement between Aeolus Pharmaceuticals, Inc. and Richard W. Reichow
This amendment updates the employment agreement between Richard W. Reichow and Aeolus Pharmaceuticals, Inc. to provide that, after April 30, 2005, Mr. Reichow's employment will continue on a month-to-month basis and may be terminated by the company with thirty days' written notice. If the company terminates the agreement without just cause, Mr. Reichow will receive certain payments and benefits as previously outlined. All other terms of the original agreement remain unchanged.
Exhibit 10.111
AMENDMENT TO EMPLOYMENT AGREEMENT
Richard W. Reichow (“Employee”) and Aeolus Pharmaceuticals, Inc., formerly Incara Pharmaceuticals Corporation (the “Company”) hereby agree to amend the terms of the Employment Agreement dated April 2, 2002, as amended on July 25, 2003, between the Company and the Employee (the “Agreement”) as follows.
Paragraph 2 of the Agreement is amended by adding the following sentence.
“After April 30, 2005, the Employee’s employment shall continue in accordance with the terms of this Agreement on a month-to-month basis, which employment may be terminated at will by the Company upon thirty (30) days written notice. Provided however, if this Agreement is terminated by the Company or if the Employee’s employment is terminated by the Company for any reason, other than for just cause as defined in Paragraph 7(A)(iii), the Employee shall be entitled to and receive the payments and benefits provided for in Paragraph 7(B) of the Agreement.”
Except as set forth above, the provisions of the Agreement, as amended, shall remain in full force and effect.
| /s/ Richard W. Reichow | December 2, 2004 | |||
| Employee’s signature | Date | |||
| /s/ James D. Crapo | December 2, 2004 | |||
| Aeolus Pharmaceuticals, Inc. | Date | |||
| James D. Crapo | ||||
| Chief Executive Officer | ||||
