IMMUCELL CORPORATION EXHIBIT 10.7 AMENDMENT TO EMPLOYMENT AGREEMENT
IMMUCELL CORPORATION
EXHIBIT 10.7
AMENDMENT TO EMPLOYMENT AGREEMENT
IMMUCELL CORPORATION, a Delaware corporation (the Company), and JOSEPH H. CRABB, an individual residing in Falmouth, Maine (Crabb), hereby agree as follows as of this 26th day of March 2010.
1. This agreement supersedes and replaces in its entirety the Employment Agreement, dated as of April 29, 1999, as amended by the Employment Agreement, dated January 1, 2005, and the Employment Agreement, dated as of July 28, 2005, each between the Company and Crabb. This agreement, together with the Confidential Information, Inventions and Noncompete Agreement, dated of even date herewith, between the Company and Crabb and any stock option agreements previously entered into between the Company and Crabb, constitute the parties entire understanding with respect to Crabbs employment by the Company.
2. Crabb shall serve as Vice President and Chief Scientific Officer of the Company in an at will capacity on such terms as the Board of Directors of the Company may from time to time determine, subject to termination by the Board of Directors of the Company at any time, with or without cause.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement, intending the same to take effect as a sealed instrument, as of the date first above written.
IMMUCELL CORPORATION | ||
By: | /s/ Linda Rhodes | |
Dr. Linda Rhodes | ||
Chair of Compensation and | ||
Stock Option Committee | ||
/s/ | Joseph H. Crabb | |
Joseph H. Crabb |