Exhibit 10.77
July 1, 1997
Xx. Xxxx X. Xxxxxxx
000 Xxxxxxxxx Xxxxxxxx
Xxxxxxx, XX 00000
Re: Amendment of Employment Agreement
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; and April 3, 1996
(together, the "Employment Agreement").
1. Term of Employment. The Employment Period, as defined in Section 2 of
the Employment Agreement, is extended to May 31, 1999.
2. Salary. The Base Salary, as defined in Section 3.1. of the Employment
Agreement, is increased to $151,000 effective August 1, 1997.
3. Vacation. Section 3.4 of the Employment Agreement is amended so that
Executive may take four weeks of paid vacation during each year.
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
Xxxxxx X. Xxx
Chairman and Chief
Executive Officer
ACCEPTED AND AGREED TO:
/s/ Xxxx X. Xxxxxxx
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Xxxx X. Xxxxxxx
