Amendment to Severance Agreement between Cambridge Heart, Inc. and Ali Haghighi-Mood (December 14, 2006)
Cambridge Heart, Inc. and Ali Haghighi-Mood have amended their original Severance Agreement. Effective December 14, 2006, if Mr. Haghighi-Mood is terminated by the company without cause, he will now receive severance pay for twelve months instead of six. This amendment was approved by the company's Board of Directors and is binding once signed by both parties.
Exhibit 10.16
Summary of Amendment dated December 14, 2006 to Severance Agreement
dated September 17, 2003 between the Registrant and Ali Haghighi Mood
On December 14, 2006, the Board of Directors approved an amendment of the Severance Agreement dated September 17, 2003 between the Registrant and Ali Haghighi Mood increasing the period during which Mr. Haghighi Mood will be entitled to receive severance pay in the event that the Registrant terminates his employment without Cause (as defined in the Severance Agreement) from six months to twelve months.
Ali Haghighi-Mood
December 14, 2006
Page 2
If the foregoing is in accordance with your understanding, please sign and return the enclosed copy of this letter, whereupon this letter and such copy will constitute a binding amendment under seal to the Severance Agreement between the Company and you on the basis set forth above.
Very truly yours,
CAMBRIDGE HEART, INC.
By: /s/ Robert P. Khederian
Name: Robert P. Khederian
Title: Interim President & CEO
Acknowledged and agreed to this
14th day of December 2006:
/s/ Ali Haghighi-Mood
Ali Haghighi-Mood
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