Amendment to Employment Agreement between CardioTech International, Inc. and Michael F. Adams
CardioTech International, Inc. and its President & CEO, Michael F. Adams, have agreed to amend Adams' Employment Agreement. Effective April 1, 2007, his base salary is increased to $290,000, as authorized by the company's Compensation Committee. The amendment is confirmed by both parties' signatures.
Exhibit 10.1
July 10, 2007
Mr. Michael F. Adams
President & CEO
CardioTech International, Inc.
229 Andover Street
Wilmington, MA 01887
Dear Michael:
As authorized by the Compensation Committee of the Board of Directors, Base Salary in Section 3.1 of the Employment Agreement between CardioTech International, Inc. and you, dated September 13, 2006, is hereby amended to be $290,000, effective April 1, 2007.
Please acknowledge your agreement with this amendment by signing below.
Sincerely,
/s/ Eric G. Walters
Eric G. Walters
Vice President & Chief Financial Officer
I acknowledge the above amendment.
| /s/ Michael F. Adams |
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| Michael F. Adams |
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