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Exhibit 10
AMENDMENT TO EMPLOYMENT AGREEMENT
This Amendment to Employment Agreement (the "Amendment") made as of the
first day of July, 1998, by and between NovaCare Employee Services, Inc., a
Delaware corporation (the "Company"), and Xxxxx X. Xxxxxx (the "Executive").
W I T N E S S E T H:
WHEREAS, the parties have heretofore entered into an Employment Agreement,
dated as of January 10, 1997 (the "Employment Agreement"); and
WHEREAS, the parties now wish to amend the Employment Agreement to modify
the Executive's annual salary and the manner in which Executive's annual bonus
shall be determined for the fiscal years ending June 30, 1999 and thereafter;
NOW, THEREFORE, in consideration of the premises and the mutual agreements
hereinafter set forth, the parties hereby agree as follows:
A. Effective as of July 1, 1998, the Employment Agreement shall be
amended as follows:
1. Salary Section 3.1 is amended to provide that the annualized base
salary due and payable to Executive, pursuant to the terms and conditions of the
Employment Agreement, shall be $250,000 per annum, payable in accordance with
standard payroll practices of the Company.
2. Incentive Bonus Section 3.2 is amended to provide that Executive shall
be eligible for incentive compensation of up to one hundred percent (100%) of
his annual base salary, in accordance with the terms and conditions described in
Section 3.2.
B. In all other respects the Employment Agreement shall remain in full
force and effect without change.
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Exhibit 10
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of
the date first above written.
NOVACARE EMPLOYEE SERVICES, INC.
By: /s/ Xxxx X. Xxxx
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Xxxx X. Xxxx
Chief Operating Officer
By: /s/ Xxxxx X. Xxxxxx
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Xxxxx X. Xxxxxx