Letter Agreement Amending and Renewing Employment Agreement between Endo Pharmaceuticals Holdings Inc. and Peter A. Lankau
This letter agreement, dated January 1, 2005, is between Endo Pharmaceuticals Holdings Inc. and Peter A. Lankau. It renews Mr. Lankau's existing employment agreement for one additional year, extending his employment through December 31, 2005. The agreement also increases his salary to $435,000. All other terms of the original employment agreement remain unchanged. The renewal is effective upon Mr. Lankau's acceptance and signature.
Exhibit 10.36.1
| January 1, 2005 |
Peter A. Lankau
100 Painters Drive
Chadds Ford, PA 19317
Dear Peter:
Reference is hereby made to that certain amended and restated employment agreement, dated as of September 1, 2002 (as amended, the “Employment Agreement”), between you and Endo Pharmaceuticals Holdings Inc. (the “Company”). Terms used but not defined in this letter shall have the meanings ascribed to them in the Employment Agreement.
Pursuant to Section 2.2 of the Employment Agreement, the Company hereby informs you that it wishes to renew the Employment Agreement for an additional period of one year. If you are in agreement, the Employment Period shall now cease on December 31, 2005, unless otherwise modified in accordance with the terms of the Employment Agreement. In addition, Section 3.1(a) shall hereby be amended to change the definition of Salary to $435,000.
All other terms and conditions of the Employment Agreement shall remain in full force and effect. If you are in agreement with this renewal, which shall be effective as of the date first above written, please execute below.
| Sincerely, | ||
| /s/ Carol A. Ammon | ||
| Carol A. Ammon Chairman & Chief Executive Officer |
ACCEPTED AND AGREED THIS 21st DAY OF JANUARY 2005:
/s/ Peter A. Lankau
Peter A. Lankau
