EXTENSION OF EMPLOYMENT AGREEMENT
Exhibit
10.2
Xxxxxxx
Xxxxxx, III (“Employee”) and FPIC Insurance Group, Inc. (“Employer”) are parties
to an Amended and Restated Employment Agreement dated as of December 14, 2005
(the “Employment Agreement”). The Employment Agreement provides for employment
for a term beginning July 26, 2004 and ending December 31, 2006 by Employee
and
further provides that the term of Employee’s employment thereunder may be
extended for additional one-year terms prior to the end of each calendar
year.
Pursuant
to Section 1(a) of the Employment Agreement, Employer, acting through its
President and Chief Executive Officer, hereby notifies Employee that the term
of
Employee’s employment under the Employment Agreement has been extended for one
additional year, and, therefore, the term of Employee’s employment under the
Employment Agreement shall continue through December 31, 2008. Furthermore,
Employer hereby notifies Employee that Employee’s annual salary provided for in
Section 2(a) of the Employment Agreement shall be $335,000 for
2007.
IN
WITNESS WHEREOF, this Extension of Employment Agreement has been executed this
14th
day of December 2006.
| Accepted: | FPIC INSURANCE GROUP, INC. | |
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| /s/ Xxxxxxx Xxxxxx, III | By: | /s/ Xxxx X. Xxxxx |
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Xxxxxxx Xxxxxx, III |
Xxxx X. Xxxxx President and Chief Executive Officer
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