IMMUCELL CORPORATION EXHIBIT 10.7 AMENDMENT TO EMPLOYMENT AGREEMENT

EX-10.7 3 dex107.htm AMENDMENT TO EMPLOYMENT AGREEMENT BETWEEN THE COMPANY AND JOSEPH H. CRABB Amendment to Employment Agreement between the Company and Joseph H. Crabb

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 Crabb’s 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