Letter Amendment to Employment Agreement between HeartWare, Inc. and Mark Strong (June 26, 2016)

Contract Categories: Human Resources › Employment Agreements
Summary

This letter amendment updates the employment agreement between Mark Strong and HeartWare, Inc. The amendment redefines "Total Salary" to include both Mark's current base salary and his target annual cash bonus, assuming full achievement of goals. All other terms of the original agreement remain unchanged. Mark Strong and HeartWare, Inc. have both agreed to these updated terms as of June 26, 2016.

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EX-10.5 8 ss403_ex1005.htm LETTER AMENDMENT
 
 
 
  June 26, 2016
 
 
 
Mark Strong
c/o HeartWare
500 Old Connecticut Path
Framingham, MA 01701
 

 
Dear Mark,
 
Reference is made to the employment letter (the “Agreement”) between you and HeartWare, Inc. (the “Company”), dated September 23, 2013, 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, INC.  
       
       
       
  BY:  /s/ Douglas Godshall  
  Title:   President and CEO  
 

 
 
 
Accepted and agreed:
  
   
   
   
   
 /s/ Mark Strong  
Mark Strong