Amendment to Employment Agreement between Nephros, Inc. and Norman J. Barta (March 17, 2003)

Summary

This amendment updates the employment agreement between Nephros, Inc. and Norman J. Barta. It increases Mr. Barta's base salary to $150,000 per year, with a further increase to $225,000 effective April 15, 2003. Additionally, on July 31, 2004, his base salary will be increased by the amount of any milestone bonuses earned before that date. The amendment is signed by both parties and takes effect as of March 17, 2003.

EX-10.8 15 dex108.txt AMENDMENT TO EMPLOYMENT AGREEMENT DATED AS OF MARCH 17,2003 Exhibit 10.8 [LETTERHEAD OF NEPHROS] AMENDMENT TO EMPLOYMENT AGREEMENT This is an AMENDMENT (the "Amendment") to the Employment Agreement between Nephros, Inc. ("the Company") and Norman J. Barta ("Executive") dated November 21, 2002. This Amendment is dated March 17, 2003, and consists of the following changes: Paragraph 3(a), Base Salary, is amended as follows: The Company agrees to pay to Executive a base salary ("Base Salary") at the annual rate of $150,000 payable in equal installments consistent with the Company's payroll practices. On April 15, 2003, Executive's Base Salary shall increase to $225,000. Paragraph 3(d), Base Salary Increase, is amended as follows: On July 31, 2004 (the "Anniversary Date"), the Company shall increase Executive's Base Salary by the dollar amount of each of the six Milestone Bonuses referred to in Section 3(b)(l)-(6) above which have been achieved during the period preceding such Anniversary Date. IN WITNESS WHEREOF, the Company has caused this Amendment to be duly executed on its behalf by an officer thereunto duly authorized and Executive has duly executed this Amendment, all as of the date and year noted above. NEPHROS, INC. EXECUTIVE By: /s/ Eric A. Rose, MD /s/ Norman J. Barta - ---------------------------------- ---------------------------------- Eric A. Rose, MD Norman J. Barta Chairman of the Board of Directors