Exhibit 10(u)

 

August 15, 2008

 

Dear Andy,

 

On behalf of the Compensation Committee, I would like to advise you of the
following preliminary decisions of the Committee with respect to executive
compensation and employment agreements:

 

The Committee will be engaging a third party consulting firm to provide advice
on executive compensation, particularly with respect to bonuses and severance.
We are requesting that the consulting firm prepare a full report within 45 days.
Upon receipt of the report, the Committee will convene to discuss the report and
develop recommendations for each executive.  We will consult with Chuck and you
as appropriate and endeavor to finalize our recommendations as quickly as
possible. Hopefully, we will be in a position to submit our recommendations to
the Board for approval at the October board meeting.  Until the new employments
agreements are finalized, the following will become effective immediately for
each executive (Messrs. Krakauer, Segel, Nodiff, Sheldon, Anaya, Malkin and
Weitnauer), notwithstanding anything less advantageous in the current employment
agreements to the contrary:

 

1.

 

Base salaries for fiscal 2009 (August 1, 2008-July 31, 2009) will be increased
to the amounts set forth on the attached schedule. Increases should be reflected
in the next paycheck (if possible). This salary increase is in lieu of the next
scheduled salary increase in each of the employment agreements (i.e., it
represents a modification to a contract year co-terminous with Cantel’s fiscal
year and a corresponding acceleration of the base salary increase.)

 

 

 

2.

 

Car allowances will be increased to $750 effective August 1, 2008.

 

 

 

3.

 

In the event an executive is terminated by the Company without cause, he will
continue to receive his base salary through July 31, 2010.

 

Please forward this letter to each of the executives today.

 

Regards,

 

/s/ Alan Hirshfield

 

Alan Hirschfield(1)

 

 

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(1) Chairman of Compensation Committee of the Board of Directors of Cantel
Medical Corp.

 

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Approved Salaries for Cantel Executives

 

 

 

Adjusted Salary

 

 

 

 

for 8/1 increase

 

Title

 

 

($)

 

 

Andy Krakauer

 

425,000

 

President

Roy Malkin

 

401,660

 

President Minntech

Gary Steinberg

 

375,000

 

President Crosstex

Seth Segel

 

337,188

 

SVP Cantel

Eric Nodiff

 

297,847

 

SVP Cantel

Craig Sheldon

 

297,847

 

SVP Cantel

Curt Weitnauer

 

237,930

 

President Mar Cor

Steve Anaya

 

179,747

 

VP Controller

 

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