Amendment to Employment Agreement Between EntreMed, Inc. and Marc Corrado (March 2007)

Summary

EntreMed, Inc. and Marc Corrado have agreed to amend Marc Corrado's employment agreement, originally effective May 20, 2005. The amendment, approved by the Compensation Committee, changes the terms regarding reductions in Corrado's base salary, specifying that any reduction must be agreed to by him unless it applies to all senior executives. All other terms of the original agreement remain unchanged. The amendment is effective upon Corrado's signature.

EX-10.6 7 w33496exv10w6.htm EXHIBIT 10.6 exv10w6

Exhibit 10.6

[ENTREMED LETTERHEAD]

March 29, 2007

Marc Corrado
Vice-President, Corporate Development
EntreMed, Inc.
9640 Medical Center Drive
Rockville, MD 20850

Re: Amendment to Employment Agreement Effective as of May 20, 2005

Dear Marc:

This letter is to confirm the proposed amendment to the terms of your employment agreement, effective as of May 20, 2005 (the “Agreement”). The Compensation Committee approved this amendment on March 9, 2007. Capitalized terms used in this letter without definition have the meanings set forth in the Agreement.

We propose to amend and restate Section 10(c)(B) of the Agreement as follows:

“(B) a reduction by the Company in Executive’s annual Base Salary as in effect on the date hereof or subsequently in effect hereunder, except as agreed to by Executive, unless such change was applicable to all senior executives of the Company;”

If the amendment to Section 10(c)(B) is acceptable to you, please countersign this letter in the space indicated below. This amendment to the Agreement will be effective on the date of your signature. All other terms and conditions of the Agreement will remain in full force and effect.


	Sincerely,
	/s/ James S. Burns
	James S. Burns
	President and Chief Executive Officer

Accepted and Agreed as of April 16, 2007


/s/ Marc G. Corrado
Marc Corrado