EXHIBIT 10.1
EMPLOYMENT AGREEMENT
This EMPLOYMENT AGREEMENT ("Agreement") is made as of this 1st day of December 2002, by and
between CalbaTech, Inc., a Nevada corporation, its subsidiaries, successors and assigns ("CTI" or "Employer")
and James DeOlden ("Employee").
WITNESSETH:
WHEREAS, the Employee has agreed to be employed by the Employer as its Chief Executive Officer and
Corporate Secretary; and
WHEREAS, it is in the Employer's best interest to obtain the services of the Employee; and
WHEREAS, the Employer and the Employee have previously engaged in negotiations regarding the terms and
conditions of their future employment relationship; and
WHEREAS, the Employer and the Employee are desirous of now committing to writing the agreed upon terms
and conditions of their future employment relationship by way of this Agreement.
NOW THEREFORE, in consideration of the mutual premises and covenants contained herein and for other good
and valuable consideration by each of the parties, it is hereby agreed as follows:
1. Employment. The Employer, by authorization of a resolution duly adopted by Employer's Board of Directors
("the Board"), a copy of which is attached hereto as Exhibit A, hereby authorizes and agrees to employ the
Employee and confirms said authority of a member of The Board executing this Agreement on behalf of the
Employer, and the Employee hereby accepts said employment upon the terms and conditions hereinafter set
forth.
2. Positions and Titles. The Employee shall have the title of Chief Executive Officer of CTI, and shall be
appointed to such standing committees of the Employer that are or may be formed during the period of this
Agreement. The Employee shall perform such duties as are normally associated with the position of Chief
Executive Officer of the Employer and such additional duties as may, from time to time, be assigned by the
Board, and shall further have the usual authority associated with said position and office as more fully described in
the Bylaws of t