Amendment to Employment Agreement between Peter McAree and HeartWare, Inc. & HeartWare International, Inc.

Contract Categories: Human Resources › Employment Agreements
Summary

This letter amends the employment agreement between Peter McAree and HeartWare, Inc. and HeartWare International, Inc. The amendment updates the definition of "Total Salary" to include both Mr. McAree's current base salary and his target annual cash bonus, assuming full achievement of corporate and individual goals. All other terms of the original agreement remain unchanged. The amendment is effective upon acceptance and signature by all parties.

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EX-10.2 5 ss403_ex1002.htm LETTER AMENDMENT
 
 
 
  June 26, 2016
 
 

Peter McAree
10 South Barn Road
Hopkinton, MA 01748
 

 
Dear Peter,
 
Reference is made to the employment letter (the “Agreement”) between you, HeartWare, Inc. and HeartWare International (the “Company”), dated June 18, 2012, as amended from time to time.  You and the Company desire to amend the Agreement in the manner described below.
 
 
1.
Total Salary.  The definition of “Total Salary” in your Agreement shall be replaced by the following:
 
“Total Salary” means your current Base Salary plus your current target annual cash bonus assuming 100% corporate and individual achievement.
 
 
2.
No Other Changes. The terms and conditions of the Agreement, to the extent not modified hereby, will continue to apply as specified in the Agreement.
 
To indicate your acceptance of these updated terms and conditions of your employment, please sign below.
 
 
Sincerely,
  
  HEARTWARE INTERNATIONAL, INC.  
       
       
       
  BY:  /s/ Douglas Godshall  
  Title:   Title: President & CEO  
 
 
 
 
 
 
 
 
 
 
  HEARTWARE, INC.  
       
       
       
  BY:  /s/ Douglas Godshall  
  Title:   President & CEO  
 

 
 
Accepted and agreed:
  
   
   
   
   
 /s/ Peter McAree  
Peter McAree