EX-10.3 LETTER AGREEMENT - STEPHEN C. FARRELL

EX-10.3 5 b48096pcexv10w3.txt EX-10.3 LETTER AGREEMENT - STEPHEN C. FARRELL EXHIBIT 10.3 August 29, 2003 Stephen C. Farrell 8 Minute Man Lane Lexington, MA 02421 Re: Amendment of Employment Agreement Dear Steve, This letter agreement serves to further amend the Employment Agreement dated as of September 1, 2000, by and between you and PolyMedica Corporation (the "Company"), as amended by certain letter agreements dated as of April 16, 2001; September 24, 2001; October 12, 2001; May 31, 2002; July 15, 2002 and February 5, 2003 (together, the "Employment Agreement"). Term of Employment. The Employment Period, as defined in Section 2 of the Employment Agreement, is extended to August 31, 2004. If the foregoing is acceptable to you, please indicate your agreement by signing a copy of this letter agreement and returning it to the undersigned. Very truly yours, /s/ Samuel L. Shanaman ---------------------- Samuel L. Shanaman Lead Director and Interim Chief Executive Officer ACCEPTED AND AGREED TO: /s/ Stephen C. Farrell - ---------------------- Stephen C. Farrell Senior Vice President and Chief Financial Officer