Champions Oncology, Inc. and Ronnie Morris, M.D. Employment Compensation Amendment Agreement (2015)
Champions Oncology, Inc. and Dr. Ronnie Morris have agreed to amend Dr. Morris's compensation for the employment year beginning November 2014. Instead of receiving part of his $305,000 annual salary in cash and part in stock options, Dr. Morris will now receive his entire salary in stock options. The number of options will be determined by the company using the Black-Scholes pricing model. This agreement is confirmed by both parties' signatures.
Exhibit 10.6
Champions Oncology, Inc.
March 16, 2015
Ronnie Morris, M.D.
Dear Dr. Morris:
This letter refers to our letter agreement dated November 5, 2013 regarding your employment compensations. The letter states that, for your employment year beginning November 2014 your annual salary of $305,000 will be paid in the form of cash to the extent of $196,000, and the balance will be paid in stock options.
We have agreed that for this current employment year your entire annual salary will be paid in options. As stated in the November 5 letter, the Company will determine in good faith the number of shares that will be subject to the options using the Black-Scholes pricing model.
Please countersign this letter below to acknowledge our mutual agreement.
| CHAMPIONS ONCOLOGY, INC. | ||||
| By: | /s/ Abba David Poliakoff | |||
Abba David Poliakoff, Chairman | ||||
of the Compensation Committee | ||||
| Agreed and Accepted: | ||||
| /s/ Ronnie Morris | ||||
| Ronnie Morris, M.D. | ||||
