EXHIBIT 10.36

 

Severance Arrangements with Executive Officers

 

Pursuant to resolutions adopted by the Board of Directors of PLC Systems Inc.
(the “Company”) on December 19, 2001, Kenneth J. Luppi, the Company’s Vice
President of Operations, and Vincent C. Puglisi, the Company’s Managing
Director, International, are entitled to receive payments equal to 26 weeks of
base salary in the event that they are terminated within one year after the date
of a change in control of the Company.

 

Mark R. Tauscher, the Company’s President and Chief Executive Officer, and James
G. Thomasch, the Company’s Senior Vice President of Finance and Administration,
Chief Financial Officer and Treasurer, are separately entitled to receive
severance payments pursuant to the terms of their respective employment
agreements with the Company.

 

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