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EXHIBIT 10(e)(ii)
AMENDMENT TO EMPLOYMENT AGREEMENT
This Amendment to Employment Agreement (the "Amendment") made this 12th
day of May, 1998, by and between NovaCare, 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 April 14, 1997 (the "Employment Agreement"); and
WHEREAS, the parties now wish to amend the Employment Agreement to
modify 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:
Effective as of July 1, 1998, the Employment Agreement shall be amended
by deleting subsection (a) of Section 3.2 in its entirety, and by replacing such
subsection with the following new subsection (a):
"(a) In addition to the base salary provided for in Section
3.1, the Executive shall be eligible for an incentive bonus target of
100% of base salary with respect to each fiscal year of the Company
ending during the term of this Agreement, payable in accordance with
the terms of the Company's Executive Incentive Compensation Plan based
on attainment of stated objectives, commencing with the fiscal year
ending June 30, 1999."
The parties agree that, with respect to the fiscal year ending June 30,
1998, Executive's incentive bonus shall be determined based on the terms and
conditions of the Employment Agreement existing as of the date hereof, without
regard to the amendment contained herein.
In all other respects the Employment Agreement shall remain in full
force and effect without change.
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IN WITNESS WHEREOF, the parties hereto have executed this Amendment as
of the date first above written.
NOVACARE, INC.
By: /s/ Xxxxxxx X. Xxxxxx
_______________________________
Xxxxxxx X. Xxxxxx
Chief Executive Officer
/s/ Xxxxx X. XxXxxx
______________________________
Xxxxx X. XxXxxx
