Exhibit 6(c)
ASSIGNMENT AND ASSUMPTION AGREEMENT
THIS ASSIGNMENT and ASSUMPTION AGREEMENT, effective the 30th day of
September 1997, by Greenbriar Corporation, a Nevada corporation (herein,
called "Assignor"), Residential Healthcare Properties, Inc., a Nevada
corporation (herein, called "Assignee"), and as consented to by Xxxx X.
Xxxxxxxx (herein called "Employee");
W I T N E S S E T H:
FOR VALUE RECEIVED, Assignor, hereby grants, transfers and assigns to
Assignee all interests of Assignor in and relating to that employment
contract dated _____ (hereinafter called the "Employment Contract"), and
herewith Assignee hereby assumes all of Assignors obligations to Employee.
Assignor agrees to execute such further documents as Assignee or Employee may
reasonably require to evidence this assignment and assumption.
Employee consents to the transfer of the Employment Contract and waives
any right to accelerate performance by Assignor by reason of the transfer.
It is agreed that this waiver is made solely for the benefit of the Assignee,
and shall not constitute a waiver by Employee of any rights under the
Employment Contract.
Assignor and Employee hereby release each other from any continuing
obligation under the Employment Contract. Assignee and Employee are now
hereby bound by the Employment Contract, except that Employee's compensation
has been reduced by $180,000 from the period of October 1, 1997 through
September 30, 1998.
IN WITNESS WHEREOF, the parties have executed this instrument the day and
year first above written.
ASSIGNOR:
Greenbriar Corporation
______________________
Xxxxx Xxxxxxx
President
ASSIGNEE:
Residential Healthcare
Properties, Inc.
___________________________
Xxxx X. Xxxxxxx
Executive Vice-President
EMPLOYEE:
____________________________
Xxxx X. Xxxxxxxx
