EXHIBIT 10.3
DIAGNOSTIC HEALTH SERVICES, INC.
0000 XXXXXXXX XXXXXXX, XXXXX 0000
XXXXXX, XXXXX 00000
January 1, 1998
Xx. Xxx X. Xxxxxx
0000 Xxxxxxx Xxxxxx Xxxx
Xxxxxx, XX 00000
RE: EIGHTH AMENDMENT TO EMPLOYMENT AGREEMENT
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Dear Max:
This will confirm that on the date hereof, the Board of Directors of
Diagnostic Health Services, Inc. (the "Company") has authorized and approved
certain amendments to your outstanding employment agreement with the Company
dated November 1, 1991 (as amended to date, the "Employment Agreement").
The amendments that have been authorized and approved consist of the
following:
1. Paragraph 2 of the Employment Agreement is hereby amended so as to
provide for (a) a new scheduled expiration date of December 31, 2002, and (b) an
automatic one-year extension of the then-scheduled expiration date at the close
of each calendar year, absent written notice to the contrary given by either you
or the Company not less than sixty (60) days prior to such calendar year-end.
2. Paragraph 3(a) of the Employment Agreement is hereby amended so as
to provide for a minimum annual base salary of $414,000 per annum, effective
immediately.
Except as specifically set forth herein, all terms and conditions of
the Employment Agreement shall remain unmodified and in full force and effect.
If you are in agreement with the foregoing, kindly confirm same by
countersigning and returning to the Company a duplicate copy of this letter.
Very truly yours,
DIAGNOSTIC HEALTH SERVICES, INC.
By:
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Xxxx X. Xxxxxx, President
Acknowledged, Confirmed and
Agreed To:
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Xxx X. Xxxxxx
