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EXHIBIT 10.24
COMMUNITY CARE SERVICES, INC.
00 XXXXXXX XXXXX
XXXXX XXXXXX, XXX XXXX 00000
May 9, 1998
Xx. Xxxxxx Xxxxxxxx
00 Xxxxxxxxx
Xxx Xxxxxxxx, Xxx Xxxx 00000
Xxxx Xxx:
Reference is hereby made to (i) the Employment Agreement between
Community Care Services ("CCS") and you dated May 10, 1997, as amended by
Amendment No. 1 dated March 1, 1998 (the "Employment Agreement"), and (ii) the
Consulting Agreement between CCS and you of even date herewith (the "Consulting
Agreement"). Capitalized terms used in this letter and not otherwise defined
shall have the meanings set forth in the Consulting Agreement.
Notwithstanding the fact that the Employment Agreement has been
terminated effective the date hereof, this will confirm CCS's agreement to abide
by and honor the provisions of Section 7(d) thereof. Specifically, CCS agrees to
make monthly payments to you in the amount of Nine Thousand Three Hundred
Fifteen Dollars ($9,315.00) for the remaining balance of the Term, payable in
the same manner which the Consulting Fee is payable, such payments constituting
payment in full of the remaining outstanding balance on the One Million One
Hundred Seventy Six Thousand Four Hundred Dollar ($1,176,400) Note dated May 10,
1997 which was issued by CCS to you, which you agreed to forgo for the
consideration specified in the letter agreement between CCS and you dated March
1, 1998. Notwithstanding anything in the Consulting Agreement or elsewhere to
the contrary, in the event of the termination of your engagement by CCS as a
consultant for any reason, whether voluntary or involuntary, by either CCS or
you, including but not limited to termination for Cause, prior to the end of the
Term, you (or your estate or personal representative, as the case may be) shall
nevertheless be entitled to receive the monthly payments of Nine Thousand Three
Hundred Fifteen Dollars ($9,315.00) described above.
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Please confirm your agreement with the foregoing by signing and
returning a copy of this letter to me.
Very truly yours,
COMMUNITY CARE SERVICES, INC.
By: /s/ Xxxxxxx X. Xxxxx
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Xxxxxxx X. Xxxxx
Chief Operating Officer
AGREED AND ACCEPTED
By: /s/ Xxxxxx Xxxxxxxx
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Xxxxxx Xxxxxxxx
