Xx. Xxxx X. Xxxxx
April 26, 1999
Page 2
NY:62996.2
NY:62996.2
EXHIBIT 10.11
HEALTHCORE MEDICAL SOLUTIONS, INC.
000 XXXXXXXXX XXXXXX, 00XX XXXXX
XXX XXXX, XX 00000
April 27, 1999
Xx. Xxxx X. Xxxxx
00 Xxxxxxx Xxxxx
Xxxxxxxxx, Xxxxxxxxxxx 00000
Re: Amendment of Executive Employment Agreement
Dear Xxxx:
This letter (the "Agreement") sets forth the mutual understanding
between you and HealthCore Medical Solutions, Inc. (the "Company")
concerning the amendment (the "Amendment") of the Executive Employment
Agreement (the "Employment Agreement"), dated September 30, 1998, between
you and the Company.
You and the Company acknowledge that the Employment Agreement shall
remain in full force and effect and that such Employment Agreement shall be,
effective one hundred twenty (120) days following the execution of this
Agreement, amended to add a new Paragraph 4(c) to read as follows:
"(c) If the Company terminates the Employment
Agreement for any reason, except for cause or in accordance
with Paragraph 2 above, the Company shall, immediately upon
termination of such Employment Agreement, pay you the lesser
of (i) One Hundred Fifty Thousand ($150,000) Dollars or (ii)
sixty percent (60%) of the present value of the remaining
compensation and benefits due under the terms of the
Employment Agreement on the date of its termination."
In consideration for signing this Agreement and in exchange for the
promises and waivers set forth herein, the Company shall, immediately upon
signing this Agreement, provide you with one hundred sixty-five thousand
(165,000) shares of the Company's Class A Common Stock.
Very truly yours,
HEALTHCORE MEDICAL
SOLUTIONS, INC.
By: /s/ Xxxxx X. Xxxxxxxx
Name: Xxxxx X. Xxxxxxxx
Title: President
ACCEPTED AND AGREED TO:
/s/ Xxxx X. Xxxxx
------------------------------------------
Xxxx X. Xxxxx
Dated: April 27, 1999
