Amendment to Employment Agreement Between CardioTech International, Inc. and Eric G. Walters (July 10, 2007)
This document is an amendment to the employment agreement between CardioTech International, Inc. and Eric G. Walters, Vice President & CFO. It increases Mr. Walters' base salary to $195,000, effective April 1, 2007, as authorized by the company's Compensation Committee. The amendment is confirmed by signatures from both the company's CEO and Mr. Walters.
Exhibit 10.2
July 10, 2007
Mr. Eric G. Walters
Vice President & CFO
CardioTech International, Inc.
229 Andover Street
Wilmington, MA 01887
Dear Eric:
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 April 3, 2006, is hereby amended to be $195,000, effective April 1, 2007.
Please acknowledge your agreement with this amendment by signing below.
Sincerely,
/s/ Michael F. Adams
Michael F. Adams
President & Chief Executive Officer
I acknowledge the above amendment.
| /s/ Eric G. Walters |
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| Eric G. Walters |
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