Amendment No. 1 to NeoRx Corporation Key Executive Severance Agreement with Susan D. Berland

Contract Categories: Human Resources › Severance Agreements
Summary

NeoRx Corporation and Susan D. Berland have amended their Key Executive Severance Agreement, originally dated October 25, 2004. The amendment extends the required advance notice of nonrenewal from 90 days to 9 months and removes certain provisions related to offsetting severance payments with other earnings. All other terms of the original agreement remain unchanged.

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EX-10.32 6 a05-8150_1ex10d32.htm EX-10.32

Exhibit 10.32

 

AMENDMENT NO. 1 TO

 

NEORX CORPORATION

 

KEY EXECUTIVE SEVERANCE AGREEMENT

 

This Amendment, dated as of March 30, 2005, is entered into by and between NEORX CORPORATION (the “Company”) and SUSAN D. BERLAND (the “Executive”) with respect to the Key Executive Severance Agreement between the Company and the Executive dated as of October 25, 2004 (the “Agreement”) as follows:

 

1.               The first sentence of Section 1 of the Agreement shall be amended by replacing “ninety (90) days” with “nine (9) months” in reference to advance notice of nonrenewal in the future.

 

2.               The third sentence of Section 5.5 of the Agreement (which relates to offset for other earnings) shall be deleted in its entirety.  The words “and Offset” shall be removed from the title of Section 5.5.  The words “and potential reduction” shall be deleted from Section 5.1(c) of the Agreement.

 

3.               Except as amended by this Amendment, the Agreement shall remain in full and force effect.

 

IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first above written.

 

 

 

NeoRx Corporation

 

 

 

 

/s/ Susan D. Berland

 

By:

/s/Anna L. Wight

 

 

Susan D. Berland

Its:  Vice President, Legal