Exhibit 10.3.7

 

BIO-REFERENCE LABORATORIES

 

AMENDMENT NO. 7

 

TO

 

EMPLOYMENT AGREEMENT

 

WITH SAM SINGER

 

AMENDMENT NO. 7 dated as of November 1, 2010 to an AGREEMENT OF EMPLOYMENT dated
as of May 1, 1997 between Bio-Reference Laboratories, Inc., a New Jersey
corporation (the “Company”) and Sam Singer, its Senior Vice President and Chief
Financial Officer (the “Employee”); as amended on November 1, 2002 (Amendment
No. 1); on January 7, 2004 (Amendment No. 2); on December 18, 2007 (Amendment
No. 3); on March 4, 2008 (Amendment No. 4); on September 18, 2008 (Amendment
No. 5); and in October, 2009 (Amendment No. 6); (the original Agreement of
Employment and the Six Amendments collectively referred to as the “Employment
Agreement”);

 

WITNESSETH:

 

WHEREAS the parties previously executed the Employment Agreement providing for
the employment by the Company of the Employee as its Senior Vice President and
Chief Financial Officer; and

 

WHEREAS the Employment Agreement is currently due to expire on March 15, 2011;
and

 

WHEREAS the parties desire to amend the Employment Agreement to fix the
Expiration Date as herein set forth:

 

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NOW, THEREFORE, in consideration of the premises and the mutual covenants
contained herein and intended to be legally bound hereby, the parties hereto
agree to amend the Employment Agreement as follows:

 

A.            “Term of Employment”. The “Expiration Date” of the Employment
Agreement shall be the close of business on January 31, 2012 and is not subject
to renewal without the written consent of both parties.

 

B.            “Terms of Employment”. This Section is hereby amended to read in
its entirety as follows:

 

“1. Terms of Employment. The Company agrees to employ the Employee as its Senior
Vice President and Chief Financial Officer and the Employee shall report
directly to the President of the Company. The Employee agrees to continue his
employment with the Company through January 31, 2012 (the “Expiration Date”).”

 

C.            “Duties”. Paragraph (a) of Section 3 of the Employment Agreement
is hereby amended to read in its entirety as follows:

 

“(a) During the Employment Period, the Employee shall perform such duties and
exercise such powers relating to the Company as are commensurate with the office
of Senior Vice President and Chief Financial Officer and shall report directly
to the President of the Company. He shall have such other duties and powers as
the President of the Company shall assign to him commensurate with the office of
Chief Financial Officer, including by way of example but not limitation, similar
duties with respect to any of the Company’s associated companies. As used in
this Agreement, the term “Associated Companies” shall mean any company (i) of
which not less than fifty (50%) of the equity is beneficially owned by the
Company or (ii) any subsidiary of such company, if any.”

 

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D.            Other Provisions. Except for the above changes, the parties hereto
hereby reaffirm each provision of the Employment Agreement as of the date
hereof.

 

IN WITNESS WHEREOF, the undersigned have each duly executed this Amendment No. 7
to the Employment Agreement as of the date first above written.

 

 

 

COMPANY:

 

Bio-Reference Laboratories, Inc.

 

 

 

 

 

By

/s/ Marc Grodman M.D.

 

 

Marc Grodman M.D.

 

 

President

 

 

Duly Authorized

 

 

 

EMPLOYEE:

 

 

 

 

 

 

/s/ Sam Singer

 

 

Sam Singer

 

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