THIRD AMENDMENT TO EMPLOYMENT AGREEMENT

Contract Categories: Human Resources - Employment Agreements
EX-10.1 2 d606469dex101.htm EX-10.1 EX-10.1

Exhibit 10.1

THIRD AMENDMENT TO EMPLOYMENT AGREEMENT

THIS THIRD AMENDMENT TO EMPLOYMENT AGREEMENT (this “Amendment”) is by and between Cynosure, Inc., a Delaware corporation (the “Company”), and Michael R. Davin (the “Executive”).

WHEREAS, the Company and the Executive are parties to that certain Employment Agreement having an effective date of December 15, 2008, as amended on December 20, 2010 and July 20, 2011 (the “Agreement”), pursuant to which the Company agrees to employ the Executive as its President, Chief Executive Officer and Chairman of the Board, and the Executive agrees to be employed by the Company in such capacities; and

WHEREAS, the Company and the Executive desire to further amend the Agreement as hereinafter set forth.

NOW, THEREFORE, in consideration of the respective agreements contained herein and for $1.00 and other valuable consideration the receipt and adequacy of which is hereby acknowledged, the Company and the Executive agree as follows:

 

  1. Each capitalized term used in this Agreement that is not otherwise defined in this Amendment shall have the meaning assigned to it in the Agreement.

 

  2. Section 4.1 of the Agreement is hereby amended such that the second sentence is deleted and replaced with:

The annual base salary shall be subject to annual review and adjustment by the Board of Directors, but in no event shall the Company pay Executive an annual base salary for calendar year 2014 or any subsequent year during the term of this Agreement at an annual rate that is less than one hundred percent (100%) of the annual base salary then in effect for the immediately preceding year during the term of this Agreement.

 

  3. Except as expressly amended by this Amendment, all of the terms and provisions of the Agreement shall remain in full force and effect. This Amendment may be executed in any number of counterparts, each of which shall be deemed as original and all of which together shall constitute one instrument.

IN WITNESS WHEREOF, each of the parties has caused this Amendment to be executed and dated as of the date first written above.

 

CYNOSURE, INC.     FOR HIMSELF:
By:  

/s/ Thomas H. Robinson

     By: /s/ Michael R. Davin
Thomas H. Robinson     Michael R. Davin
Chairman of the Compensation Committee     Effective Date of Amendment: 11/5/13