EX-10.1
from 8-K
3 pages
Amendment No. 3, Dated as of February 13, 2008, to Employment Agreement, Dated as of November 3, 2003, by and Between Vion Pharmaceuticals, Inc., a Delaware Corporation (The “Company”), and Alan Kessman (The “Executive”), as Amended by Amendment No. 1 Thereto, Dated September 13, 2005, and Amendment No. 2 Thereto, Dated January 3, 2006 (Collectively, the “2003 Agreement”). Whereas, the Executive Has Been Acting as the Chief Executive Officer of the Company Pursuant to the 2003 Agreement; and Whereas, the 2003 Agreement Provides That the Executive Is Eligible for an Annual Bonus Based on the Achievement of Specified Company Goals With a Maximum Bonus of 50% of Base Salary During the Fiscal Year With Respect to Which Such Bonus Is Awarded; and Whereas, the Board of Directors of the Company (The “Board”) Has Determined That the Executive Is Entitled to a Bonus of $98,568.00 for the 2007 Fiscal Year (The “2007 Bonus”) Based on the Achievement of Specified Company Goals for the 2007 Fiscal Year; and Whereas, the Executive Is Willing to Defer Payment of the 2007 Bonus and the Board Is Desirous of Deferring Payment of the 2007 Bonus; and Whereas, in Order to Effectuate the Foregoing, the Company and the Executive Wish to Amend the 2003 Agreement. Now Therefore, in Consideration of Premises and the Respective Covenants and Agreements of the Parties Herein Contained, and Intending to Be Legally Bound Hereby, the Parties Hereto Agree as Follows: 1. Section 5(b) of the 2003 Agreement Is Hereby Amended and Restated in Its Entirety to Read as Follows: “(B)
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