Attached files
file | filename |
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EXCEL - IDEA: XBRL DOCUMENT - MEDICIS PHARMACEUTICAL CORP | Financial_Report.xls |
10-Q - FORM 10-Q - MEDICIS PHARMACEUTICAL CORP | p18000e10vq.htm |
EX-31.2 - EX-31.2 - MEDICIS PHARMACEUTICAL CORP | p18000exv31w2.htm |
EX-10.3 - EX-10.3 - MEDICIS PHARMACEUTICAL CORP | p18000exv10w3.htm |
EX-10.1 - EX-10.1 - MEDICIS PHARMACEUTICAL CORP | p18000exv10w1.htm |
EX-32.1 - EX-32.1 - MEDICIS PHARMACEUTICAL CORP | p18000exv32w1.htm |
EX-10.2 - EX-10.2 - MEDICIS PHARMACEUTICAL CORP | p18000exv10w2.htm |
EX-10.5 - EX-10.5 - MEDICIS PHARMACEUTICAL CORP | p18000exv10w5.htm |
EX-31.1 - EX-31.1 - MEDICIS PHARMACEUTICAL CORP | p18000exv31w1.htm |
Exhibit 10.4
FIRST AMENDMENT TO
EMPLOYMENT AGREEMENT
EMPLOYMENT AGREEMENT
Medicis Pharmaceutical Corporation (the Company) and Richard D. Peterson (the
Executive) entered into an Employment Agreement (the Agreement) effective December
22, 2008. The Company and Executive wish to amend the Agreement to modify the Executives
salary to reflect the Executives additional responsibilities and to clarify the
circumstances in which a change in the Executives authority, duties or
responsibilities will be deemed to give rise to Good Reason for the Executive to terminate
the Agreement. The Company and Executive each acknowledge that the modification of the
Executives salary and the noted clarification is valuable to it or him and provides adequate
consideration for the execution of this First Amendment.
1. This First Amendment is effective as of June 30, 2010.
2. Section 3.1 of the Agreement is hereby amended to provide that
Executives salary, effective as of the effective date of this First Amendment,
shall be increased to an annual rate of $555,000 per year.
3. Section 5.6(b) of the Agreement is hereby amended and restated in its entirety to
read
follows:
(b) a material diminution in Executives
authority, duties or responsibilities as set forth in
Section 2.1, provided, however, that for
purposes of this clause (b) a change in Executives
authority, title, duties, or responsibilities shall not
be deemed to materially reduce Executives authority,
duties, or responsibilities if all of the following
conditions are satisfied: (i) at the time the change is
implemented Jonah Shacknai is serving as Companys
Chief Executive Officer; (ii) Mr. Shacknai initiated or
approved the change; (iii) Executive continues to
report to either the supervisor to whom Executive
reported immediately prior to such change or a
supervisor at the same or higher level of
responsibility within Companys organizational
structure; and (iv) there is no material diminution in
Executives Base Compensation or in Executives
opportunities for incentive or equity compensation.
4. This First Amendment amends only the provisions of the Agreement as set forth
herein, and those provisions not expressly amended by this First Amendment
shall continue in full force and effect. Notwithstanding the foregoing, this First
Amendment shall supersede the provisions of the Agreement to the extent those
provisions are inconsistent with the provisions and the intent of this First
Amendment.
IN WITNESS WHEREOF, Executive has executed this First Amendment, and Company
has
caused this First Amendment to be executed by its duly authorized
representative, on this 15th day of
June, 2010.
MEDICIS PHARMACEUTICAL CORPORATION |
||||
By | /s/ Jason D. Hanson | |||
Its Jason D. Hanson | ||||
Executive Vice President, General Counsel & Corporate Secretary | ||||
EXECUTIVE |
||||
/s/ Richard D. Peterson | ||||
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