Amendment to Employment Agreement between eXegenics Inc. and Ronald L. Goode, Ph.D.
This amendment updates the employment agreement between eXegenics Inc. and Ronald L. Goode, Ph.D. The new terms specify that Dr. Goode's employment will continue until March 20, 2004, unless ended earlier according to the agreement. After that, the contract will automatically renew each year unless either party gives at least 150 days' notice before the end of the current term to not renew. Both parties have agreed to these changes by signing the amendment.
EXHIBIT 10.1
eXegenics INC.
September 9, 2003
VIA OVERNIGHT DELIVERY
Ronald L. Goode, Ph.D.
eXegenics Inc.
2110 Research Row
Dallas, Texas 75235
Dear Dr. Goode:
Reference is made to the Employment Agreement dated as of March 21, 2001, by and between you and eXegenics Inc. (the Employment Agreement). Notwithstanding Section 3 of the Employment Agreement, and pursuant to Section 13.2 thereof, this letter will confirm that Section 3 of the Employment Agreement is hereby amended and restated to read in its entirety as follows:
The employment of Executive by the Company hereunder (the EMPLOYMENT PERIOD) shall commence on the date hereof and shall continue through and including March 20, 2004, unless sooner terminated pursuant to the provisions of this Agreement. The employment of Executive hereunder shall be automatically renewed on a year-to-year basis on the same terms and conditions as the preceding year, unless either party hereto, not less than one hundred fifty (150) days prior to the end of the initial or a renewal term hereof, serves notice on the other party of his or its intention not to renew this Agreement for an additional one-year term.
If you are in agreement with the foregoing, please so indicate by signing in the space provided below.
Very truly yours, | ||||
eXegenics Inc. | ||||
By: | /s/ David Riggs | |||
Name: | David Riggs | |||
Title: | Chief Financial Officer |
Accepted and Agreed:
/s/ Ronald L. Goode
Ronald L. Goode, Ph.D.
Dated: September 9, 2003
cc: | McCullough, Campbell & Lane | |
Suite 4100 | ||
205 North Michigan Avenue | ||
Chicago, Illinois 60601 | ||
Attention: Carl D. Liggio, Sr. |