Employment Agreement Amendment between Cumberland Pharmaceuticals Inc. and Leo Pavliv

Contract Categories: Human Resources › Employment Agreements
Summary

This agreement, effective July 1, 2009, is between Cumberland Pharmaceuticals Inc. and Leo Pavliv. It amends Mr. Pavliv's employment terms, appointing him as Senior Vice President, Operations, and sets his annual salary at $266,000, paid in equal monthly installments. The agreement is signed by both parties and updates the compensation terms of his prior employment contract.

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EX-10.13.1 4 c0628619exv10w13w1.htm EX-10.13.1 EMPLOYMENT AGREEMENT - LEO PAVLIV EX-10.13.1 EMPLOYMENT AGREEMENT - LEO PAVLIV
EXHIBIT 10.13.1
June 30, 2009
Leo Pavliv
707 Walcott Way
Morrisville, NC 27560
     
Re:
  Employment of Leo Pavliv as Senior Vice President, Operations
by Cumberland Pharmaceuticals Inc.
Dear Leo:
     Beginning July 1, 2009, this letter agreement, in consideration of your existing employment contract effective January 1, 2009 (the “Agreement”), amends your appointment to Senior Vice President, Operations and sections 1(a).of Compensation as follows:
     1.(a) The Company agrees to pay you on a salary basis for services performed based on an annual rate of two hundred sixty-six thousand dollars ($266,000.00), payable in arrears in equal monthly installments on the last day of each calendar month during the term of this Agreement.
         
    Sincerely yours,
 
        
 
  CUMBERLAND PHARMACEUTICALS INC.
 
        
 
  By:   /s/ A.J. Kazimi
 
       
 
      A.J. Kazimi
Chief Executive Officer
     
Accepted as of the 9th day of July, 2009.
 
    
/s/ Leo Pavliv
    
 
Leo Pavliv