Exhibit 10.1
AMENDMENT NUMBER 1
TO
EMPLOYMENT AGREEMENT
THIS AMENDMENT NUMBER 1 to the Employment Agreement dated November 13,
2000, (the "Agreement"), by and between Per-Se Technologies, Inc., a Delaware
corporation (the "Company"), and Xxxxxx X. Xxxx (the "Executive") is made and
entered into this 8th day of May, 2003.
STATEMENT OF BACKGROUND INFORMATION
The Company and the Executive entered into the Agreement providing, among
other things, for the employment of the Executive as President and Chief
Executive Officer of the Company.
The Company and the Executive desire to amend the Agreement to reflect a
change in Executive's title and duties, extend the term, increase the
compensation, and make such other changes, deletions or additions as the parties
may agree.
STATEMENT OF AGREEMENT
1. Section 2, "Employment" is hereby amended by inserting the words
"Chairman of the Board," immediately preceding the words "President
and Chief Executive Officer" in each sentence of that Section.
2. Section 3, "Term" is hereby amended by deleting the first sentence
thereof in its entirety, and inserting the following new first
sentence in lieu thereof:
"The initial term of this Agreement will be for a period of 3 years
commencing on May 8, 2003 and expiring on May 7, 2006, subject to
earlier termination as provided for in Section 4."
3. Section 4(c), "Termination by Executive With Good Reason" is amended
by inserting the words "Chairman of the Board," immediately
preceding the words "President and Chief Executive Officer" in
clause (y) of that Section.
4. Section 5(a), "Annual Salary" is hereby amended by deleting the
words "Three Hundred Ten Thousand and no/100ths Dollars
($310,000.00)" in that Section and inserting the words "Three
Hundred Seventy Five Thousand and no/100ths Dollars ($375,000.00)"
in that Section in lieu thereof, which represents an increase in the
amount of $25,000 in Executive's salary as of May 7, 2003.
5. Section 5(b), "Incentive Compensation" is hereby amended by deleting
the number "100%" in that Section and inserting the number "130%" in
that Section in lieu thereof, and further amended by inserting the
words "Compensation Committee of the" immediately preceding the
words "Board of Directors" in that Section.
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Except as specifically amended herein, the Agreement shall remain in full
force and effect.
IN WITNESS WHEREOF, the parties have executed this Amendment Number 1 to
Employment Agreement as of the day and year first above written.
PER-SE TECHNOLOGIES, INC. EXECUTIVE:
By: /s/ C. XXXXXXXXXXX XXXXXX /s/ XXXXXX X. XXXX
------------------------- -----------------------------------
Name: C. Xxxxxxxxxxx Xxxxxx Xxxxxx X. Xxxx
Title: Chairman, PSTI
Compensation Committee
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