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EXHIBIT 10.47
AMENDMENT NO. 1
TO
EMPLOYMENT AGREEMENT
THIS AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT (this "Amendment"), dated
and effective this 1st day of January, 1998, by and between INSpire Insurance
Solutions, Inc., a Texas corporation ("Employer"), and F. Xxxxxx Xxxxxx, III, a
resident of Texas ("Employee").
RECITALS:
A. Employer and Employee are parties to a certain Employment
Agreement dated July 1, 1997 (the "Employment Agreement").
B. Section 3(b) of the Employment Agreement provides for the
payment of a bonus to employee under certain circumstances
described therein.
C. Employer has adopted the INSpire Insurance Solutions, Inc.
1998 Annual Bonus Plan (the "Bonus Plan") to provide bonuses
to certain participants as may be designated by the Board of
Directors of Employer.
D. Employer and Employee have agreed to amend Section 3(b) of the
Employment Agreement as provided herein in order to permit
Employee to participate in the Bonus Plan.
AGREEMENTS:
Accordingly, in consideration of the mutual covenants and obligations
contained herein, Employer and Employee hereby agree as follows:
1. For the year ended December 31, 1997, Employee shall be
entitled to a bonus determined pursuant to Section 3(b) of the
Employment Agreement in effect prior to this Amendment.
2. Section 3(b) of the Employment Agreement is hereby amended and
restated in its entirety to read as follows:
"(b) Annual Bonus. In addition to the salary set forth in
Section 3(a) hereof, Employee shall be entitled to participate
in the Bonus Plan each year during the term of this Agreement.
Employer agrees that the Bonus Plan shall not be terminated by
Employer prior to the termination of this Agreement."
3. Schedule 3(b) to the Employment Agreement is hereby deleted.
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4. Except as expressly amended hereby, all terms and conditions
of the Employment Agreement shall remain in full force and
effect.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as
of the date first set forth above.
INSpire Insurance Solutions, Inc.
By:
---------------------------------
Name:
-------------------------------
Title:
------------------------------
EMPLOYEE:
------------------------------------
F. Xxxxxx Xxxxxx, III
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3
AMENDMENT NO. 1
TO
EMPLOYMENT AGREEMENT
THIS AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT (this "Amendment"), dated
and effective this 1st day of January, 1998, by and between INSpire Insurance
Solutions, Inc., a Texas corporation ("Employer"), and Xxxxx X. Xxxxxx, a
resident of Texas ("Employee").
RECITALS:
A. Employer and Employee are parties to a certain Employment
Agreement dated July 1, 1997 (the "Employment Agreement").
B. Section 3(b) of the Employment Agreement provides for the
payment of a bonus to employee under certain circumstances
described therein.
C. Employer has adopted the INSpire Insurance Solutions, Inc.
1998 Annual Bonus Plan (the "Bonus Plan") to provide bonuses
to certain participants as may be designated by the Board of
Directors of Employer.
D. Employer and Employee have agreed to amend Section 3(b) of the
Employment Agreement as provided herein in order to permit
Employee to participate in the Bonus Plan.
AGREEMENTS:
Accordingly, in consideration of the mutual covenants and obligations
contained herein, Employer and Employee hereby agree as follows:
1. For the year ended December 31, 1997, Employee shall be
entitled to a bonus determined pursuant to Section 3(b) of the
Employment Agreement in effect prior to this Amendment.
2. Section 3(b) of the Employment Agreement is hereby amended and
restated in its entirety to read as follows:
"(b) Annual Bonus. In addition to the salary set forth in
Section 3(a) hereof, Employee shall be entitled to participate
in the Bonus Plan each year during the term of this Agreement.
Employer agrees that the Bonus Plan shall not be terminated by
Employer prior to the termination of this Agreement."
3. Schedule 3(b) to the Employment Agreement is hereby deleted.
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4
4. Except as expressly amended hereby, all terms and conditions
of the Employment Agreement shall remain in full force and
effect.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as
of the date first set forth above.
INSpire Insurance Solutions, Inc.
By:
---------------------------------
Name:
-------------------------------
Title:
------------------------------
EMPLOYEE:
------------------------------------
Xxxxx X. Xxxxxx
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5
AMENDMENT NO. 1
TO
EMPLOYMENT AGREEMENT
THIS AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT (this "Amendment"), dated
and effective this 1st day of January, 1998, by and between INSpire Insurance
Solutions, Inc., a Texas corporation ("Employer"), and Xxxxxxx X. Xxxxxxxx, a
resident of Texas ("Employee").
RECITALS:
A. Employer and Employee are parties to a certain Employment
Agreement dated July 1, 1997 (the "Employment Agreement").
B. Section 3(b) of the Employment Agreement provides for the
payment of a bonus to employee under certain circumstances
described therein.
C. Employer has adopted the INSpire Insurance Solutions, Inc.
1998 Annual Bonus Plan (the "Bonus Plan") to provide bonuses
to certain participants as may be designated by the Board of
Directors of Employer.
D. Employer and Employee have agreed to amend Section 3(b) of the
Employment Agreement as provided herein in order to permit
Employee to participate in the Bonus Plan.
AGREEMENTS:
Accordingly, in consideration of the mutual covenants and obligations
contained herein, Employer and Employee hereby agree as follows:
1. For the year ended December 31, 1997, Employee shall be
entitled to a bonus determined pursuant to Section 3(b) of the
Employment Agreement in effect prior to this Amendment.
2. Section 3(b) of the Employment Agreement is hereby amended and
restated in its entirety to read as follows:
"(b) Annual Bonus. In addition to the salary set forth in
Section 3(a) hereof, Employee shall be entitled to participate
in the Bonus Plan each year during the term of this Agreement.
Employer agrees that the Bonus Plan shall not be terminated by
Employer prior to the termination of this Agreement."
3. Schedule 3(b) to the Employment Agreement is hereby deleted.
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6
4. Except as expressly amended hereby, all terms and conditions
of the Employment Agreement shall remain in full force and
effect.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as
of the date first set forth above.
INSpire Insurance Solutions, Inc.
By:
---------------------------------
Name:
-------------------------------
Title:
------------------------------
EMPLOYEE:
------------------------------------
Xxxxxxx X. Xxxxxxxx
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7
AMENDMENT NO. 1
TO
EMPLOYMENT AGREEMENT
THIS AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT (this "Amendment"), dated
and effective this 1st day of January, 1998, by and between INSpire Insurance
Solutions, Inc., a Texas corporation ("Employer"), and Xxxxxx X. Xxxx, a
resident of Texas ("Employee").
RECITALS:
A. Employer and Employee are parties to a certain Employment
Agreement dated July 1, 1997 (the "Employment Agreement").
B. Section 3(b) of the Employment Agreement provides for the
payment of a bonus to employee under certain circumstances
described therein.
C. Employer has adopted the INSpire Insurance Solutions, Inc.
1998 Annual Bonus Plan (the "Bonus Plan") to provide bonuses
to certain participants as may be designated by the Board of
Directors of Employer.
D. Employer and Employee have agreed to amend Section 3(b) of the
Employment Agreement as provided herein in order to permit
Employee to participate in the Bonus Plan.
AGREEMENTS:
Accordingly, in consideration of the mutual covenants and obligations
contained herein, Employer and Employee hereby agree as follows:
1. For the year ended December 31, 1997, Employee shall be
entitled to a bonus determined pursuant to Section 3(b) of the
Employment Agreement in effect prior to this Amendment.
2. Section 3(b) of the Employment Agreement is hereby amended and
restated in its entirety to read as follows:
"(b) Annual Bonus. In addition to the salary set forth in
Section 3(a) hereof, Employee shall be entitled to participate
in the Bonus Plan each year during the term of this Agreement.
Employer agrees that the Bonus Plan shall not be terminated by
Employer prior to the termination of this Agreement."
3. Schedule 3(b) to the Employment Agreement is hereby deleted.
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8
4. Except as expressly amended hereby, all terms and conditions
of the Employment Agreement shall remain in full force and
effect.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as
of the date first set forth above.
INSpire Insurance Solutions, Inc.
By:
---------------------------------
Name:
-------------------------------
Title:
------------------------------
EMPLOYEE:
------------------------------------
Xxxxxx X. Xxxx
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