Amendment to Employment Agreement between SFBC Analytical Laboratories, Inc. and Dr. Allan Xu

Summary

This amendment updates Dr. Allan Xu's employment agreement with SFBC Analytical Laboratories, Inc., effective December 31, 2001. The change clarifies that if Dr. Xu remains employed on each anniversary date through the fifth year, a $200,000 sum plus interest will be treated as a bonus paid by the company, rather than a forgiven payment by Dr. Xu. Additionally, a portion of the parent company's common stock will be released to Dr. Xu according to the terms of a separate pledge agreement.

EX-10.4 3 dex104.txt AMENDMENT TO EMPLOYMENT AGREEMENT OF DR. ALLAN XU Exhibit 10.4 SFBC Analytical Laboratories, Inc. 401A Industrial Drive North Wales, PA 19459 May 7, 2002 VIA FACSIMILE AND REGULAR MAIL Dr. Allan Xu SFBC Analytical Laboratories, Inc. 401A Industrial Drive North Wales, PA 19459 Re: SFBC International, Inc. / Amendment to Employment Agreement Dear Dr. Xu: Reference is made your Employment Agreement with SFBC Analytical Laboratories, Inc. (the "Company") dated as of August 20, 2001. This letter will confirm our agreement to amend Section 4(f) as of December 31, 2001. The second sentence of Section 4(f) which reads as follows: "If the Employee is still employed by the Company on an anniversary date of this Agreement (the "Anniversary Date") through the fifth Anniversary Date: (i) the sum of $200,000 together with applicable interest shall be forgiven and considered paid by the Employee to the Company on each applicable Anniversary Date; and (ii) a pro rata portion of the Parent's common stock shall be released subject to the terms of the Pledge Agreement[.]" is hereby stricken in its entirety, and is hereby amended and the following language is substituted therefore, as follows: "If the Employee is still employed by the Company on an anniversary date of this Agreement (the "Anniversary Date") through the fifth Anniversary Date: (i) the sum of $200,000 together with applicable interest shall be considered a bonus paid by the Company to the Employee on each applicable Anniversary Date; and (ii) a pro rata portion of the Parent's common stock shall be released subject to the terms of the Pledge Agreement." Please affirm your agreement to this amendment as of December 31, 2001, and return the same to me via facsimile and send the original to me by regular mail. Sincerely yours, /s/ Dr. Allan Xu ------------------------ Dr. Allan Xu