PAVMED INC.
Exhibit 10.2.3
000 Xxxxxxxxx Xxxxxx, Xxxxx 000
Xxx Xxxx, Xxx Xxxx 00000
November 17, 2015
Xx. Xxxxxx Xxxxx
00 Xxxxxxx Xxxx Xxxxx
Xxxxxxxx, XX 00000
Dear Xx. Xxxxx:
This letter will serve to amend the Employment Agreement (“Employment Agreement”), dated as of October 24, 2014 and amended on April 8, 2015, between you and PAVmed Inc.
Section 3.1 of the Employment Agreement is hereby amended and restated to read as follows:
“3.1 Salary. The Company shall pay to Executive a salary (“Base Salary”) at the annual rate of $295,000. Executive’s compensation shall be paid in equal, periodic installments in accordance with the Company’s normal payroll procedures commencing as of November 1, 2015. Executive’s Base Salary from November 1, 2104 to October 31, 2015, which will be paid at the rate of $240,000 per year, shall be paid only upon, and be subject to, the consummation of the Company’s initial public offering of its securities.”
Except as amended herein, all other provisions of the Employment Agreement shall remain in full force and effect.
Please sign this letter in the place below to confirm your agreement.
| Sincerely, | ||
| PAVMED INC. | ||
| By: | /s/ Xxxxxxx Xxxxxxxxxx | |
| Name: Xxxxxxx Xxxxxxxxxx | ||
| Title: Chief Financial officer | ||
AGREED TO:
| /s/ Xxxxxx Xxxxx | |
| Xxxxxx Xxxxx, M.D. |
