AMENDMENT TO THE SERVICE/CONSULTING AND EMPLOYMENT AGREEMENTS
AMENDMENT
TO THE SERVICE/CONSULTING
AND
EMPLOYMENT
AGREEMENTS
March
18,
2007
Board
of
Directors
American
Surgical Holdings, Inc.
00000
Xxxxxxxxx #000
Xxxxxxx,
Xxxxx 00000
Dear
Board of Directors:
In
reference to those certain Service/Consulting and Employment Agreements between
ASA, Inc. and Xxx Xxxxxxx, Xxxxx Xxxx-Xxxxx, Xxxxx Xxxxxxxxxxx, and Xxxx Xxxxx,
and their respective individual corporations (“Agreements”), these Agreements
are hereby modified to confirm the understanding amongst the parties and the
Company that the $3,000,000 termination payment set forth in the
Service/Consulting Agreements shall only become due and payable in the
circumstance where the Company, upon written unanimous resolution of all
directors, terminated the Service/Consulting Agreements with the Company for
reasons other than cause. In the event that any of the named parties (other
than
the Company) terminate such Agreement for any reason prior to the maturity
of
the Agreement or should the Agreements reach maturity of the then current term,
the termination penalty is neither due nor payable by the Company. For purposes
of these Agreements, Cause shall be defined as the conviction of the person
for
any felony criminal act. All other benefits, compensations, and terms set forth
in such agreements shall remain in full force and effect.
It
is
also hereby agreed that the Employment Agreements between ASA, Inc. and Xxx
Xxxxxxx, Xxxxx Xxxx-Xxxxx, Xxxxx Xxxxxxxxxxx, and Xxxx Xxxxx shall remain in
force, in accordance with their individual terms and are not in any manner
related to the Agreements set forth above. The laws of the State of Texas govern
this amendment and the Service/Consulting and the Employment Agreements
mentioned herein.
ACCEPTED
AND AGREED TO BY:
By:/s/
Xxx Xxxxxxx
ASH
INC.
/s/
Xxx Xxxxxxx /s/
Xxxxx Xxxx-Xxxxx
XXX
XXXXXXX XXXXX
XXXX-XXXXX
/s/
Xxxx Xxxxx /s/
Xxxxx Xxxxxxxxxxx
XXXX
XXXXX LAND
XXXXXXXXXXX
