Exhibit 10.3
First Amendment to Xxxxx Xxxxxxxxx Agreement
FIRST AMENDMENT TO SEVERANCE AGREEMENT
THIS FIRST AMENDMENT TO SEVERANCE AGREEMENT, is made and entered into
as of this 24th day of January, 2000 by and between Meditrust Corporation, a
Delaware corporation (the "Employer") and Xxxxxx X. Xxxxx (the "Employee").
WHEREAS, the Employer and the Employee entered into a Severance
Agreement (the "Severance Agreement") dated as of January 1, 1999; and
WHEREAS, the Employer has increased certain of the Employee's benefits,
effective as of January 1, 2000; and
WHEREAS, the Employer and the Employee wish to modify the Severance
Agreement to incorporate such changes.
NOW, THEREFORE, in consideration of the foregoing, the parties hereto
hereby agree as follows:
Section 2.1 of the Severance Agreement is hereby deleted in its
entirety and is replaced with the following:
"2.1 PERFORMANCE SHARES.The Employer has previously awarded the
Employee 30,000 performance shares in accordance with the
terms described in Exhibit A hereto and the Employer's 1995
Share Award Plan and in the future may award additional shares
from time-to-time (the "Performance Shares")."
Except as modified hereby, the Severance Agreement shall remain in full
force and effect and unaffected hereby.
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment to
Severance Agreement under seal as of the day and year first above written.
MEDITRUST CORPORATION
By: /s/ Xxxxx X. Xxxxxx
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Name: Xxxxx X. Xxxxxx
Title: Chief Executive Officer
/s/ Xxxxxx X. Xxxxx
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Xxxxxx X. Xxxxx
