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EXHIBIT 10.58
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January 19, 1998
Xxxx Xxxxxxxxx, President
LIBERTY MEDICAL SUPPLY, INC.
0000 X.X. Xxxxxxxxx Xxxxxxx
Xxxxxx Xxxxx Business Park
Xxxx Xxxx, XX 00000
Re: Amendment of Employment Agreement
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Dear Xxxx,
This letter agreement serves to further amend the employment agreement dated as
of August 30, 1996, by and between you and PolyMedica Corporation (the
"Company"), as amended by certain Amendment No. 1 to Employment Agreement dated
as of March 26, 1997 (together, the "Employment Agreement").
1. SALARY. The Base Salary, as defined in Section 3.1. of the Employment
Agreement, shall be increased to $225,000 effective April 1, 1998.
2. BONUS. Bonus Payments, as defined in Section 3.2 of the Employment
Agreement, shall be as follows: (a) PolyMedica will pay to you in early
April, 1998, a bonus of $18,750. (b) You shall be entitled to a bonus
of 1.5% of Liberty's fiscal year 1999 pretax earnings (before bonus) in
excess of $3 million.
If the foregoing is acceptable to you, please indicate your agreement by signing
a copy of this letter agreement and returning it to the undersigned.
Very truly yours,
/s/ Xxxxxx X. Xxx
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Xxxxxx X. Xxx
Chairman and Chief Executive Officer
ACCEPTED AND AGREED TO:
/s/ Xxxx X. Xxxxxxxxx
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Xxxx X. Xxxxxxxxx
