Addendum to Employment Agreement between NeuroMetrix, Inc. and Thomas T. Higgins (April 5, 2024)
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Summary
This addendum modifies the employment agreement between NeuroMetrix, Inc. and Thomas T. Higgins, confirming that his annual base salary of $359,125 remains subject to review and adjustment by the company. If Mr. Higgins chooses to temporarily reduce his salary in any quarter, this will not affect calculations for bonuses, equity incentives, separation benefits, or retention plans. All other terms of the original December 30, 2020 agreement remain unchanged. The addendum is effective upon Mr. Higgins' acceptance and signature.
EX-10.2 3 tthemploymentagreement-add.htm EX-10.2 Document
April 5, 2024
Thomas T. Higgins
Employment Agreement – December 30, 2020
Addendum
On behalf of the Board of Directors of NeuroMetrix, Inc., the Compensation Committee of the Board confirms the following modification to the terms of your employment:
“Base Salary – your annual salary (“Base Salary”), currently in the amount of $359,125, remains subject to periodic review and adjustment at the discretion of the Company. Should you elect, at your sole discretion, a temporary reduction in your base salary in any quarterly period, there will be no effect on the base salary amount used in any calculation of variable compensation, long term equity incentives, separation benefits or the Management Retention and Incentive Plan.”
Other terms of your employment agreement dated December 30, 2020 are unchanged.
Please acknowledge your acceptance of this Addendum by signing below.
Sincerely,
NeuroMetrix, Inc.
By: /s/ DAVID VAN AVERMAETE___________
David VanAvermaete
Compensation Committee, Board of Directors
/s/ DAVID E. GOODMAN, M.D.___________
David Goodman, M.D., MSE,
Compensation Committee, Board of Directors
Accepted: /s/ THOMAS T. HIGGINS________________ Date: __4/5/2024____
Thomas T. Higgins.
4 B Gill Street, Woburn, MA 01801 / neurometrix.com / O 781 ###-###-####
