EXTENSION OF EMPLOYMENT AGREEMENT
Exhibit
10.1
Xxxx
X. Xxxxx (“Employee”) and FPIC Insurance Group, Inc. (“Employer”) are parties to
an Employment Agreement dated January 1, 1999, as amended by an Amendment to
Employment Agreement dated December 14, 2001 (the “Employment Agreement”). The
Employment Agreement provides for a three-year term of employment 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.
The term of Employee’s employment under the Employment Agreement has been so
extended each year and currently continues through December 31,
2008.
Pursuant
to Section 1(a) of the Employment Agreement, Employer, acting through its
Chairman, 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, 2009. Furthermore, Employer hereby notifies
Employee that Employee’s annual salary provided for in Section 2(a) of the
Employment Agreement shall be $695,000 for 2007.
IN
WITNESS WHEREOF, this Extension of Employment Agreement has been executed this
14th day of December 2006.
| Accepted: | FPIC INSURANCE GROUP, INC. | |
| |
|
|
| /s/ Xxxx X. Xxxxx | By: | /s/ Xxxxxx X. Xxxxxxx, M.D. |
|
Xxxx X. Xxxxx |
Xxxxxx X. Xxxxxxx, M.D. Chairman of the Board
|
|
