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EXHIBIT 10.59
June 14, 1999
Xx. Xxxx X. Xxxxxxx
000 Xxxxxxxx Xxxxxx
Xxxxxxx, 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 June 1, 1991, by and between you and PolyMedica Industries, Inc. (the
"Company"), as amended by certain letter agreements dated as of December 5,
1991; March 18, 1993; March 31, 1994; April 11, 1995; April 3, 1996; July 1,
1997; July 1, 1998; and September 22, 1998 (together, the "Employment
Agreement").
TERM OF EMPLOYMENT. The Employment Period, as defined in Section 2 of
the Employment Agreement, is extended to May 31, 2001.
SALARY. The Base Salary, as defined in Section 3.1. of the Employment
Agreement, shall be increased to $179,388 effective June 10, 1999.
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. Xxxxxxx
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Xxxx X. Xxxxxxx
