1
Exhibit 10(b)
Conformed
May 5, 1999
Xxxxxxx X. Xxxx
00 Xxxxxxxxxx Xxxxx
Xxxxxxxxx, XX 00000
Dear Xxxx:
This letter will serve to further amend the letter agreement dated June
26, 1998, as amended on December 10, 1998, between you and Oxford Health Plans,
Inc. (the "Corporation"), by adding the following clause to the second sentence
of paragraph three thereof:
"; provided, however, notwithstanding any other provision of your
Employment Agreement to the contrary, that the cash payment required to be made
by the Corporation in such instance, shall be equal to $1,200,000."
A copy of the letter agreement and the December 10, 1998 amendment
thereto is attached hereto for reference.
We acknowledge that this letter is being entered into in consideration
of your continued employment with the Corporation and that your Employment
Agreement dated as of August 14, 1996, and amended as of February 23, 1998, and
the letter agreement dated June 26, 1998, as amended on December 10, 1998 and
again by this letter agreement, shall remain in full force and effect.
Sincerely,
/S/ XXXXXX X. XXXXXX, M.D.
Xxxxxx X. Xxxxxx, M.D.
Chief Executive Officer
Agreed and Accepted:
/S/ XXXXXXX X. XXXX
-----------------------------
Xxxxxxx X. Xxxx
Date: May 5, 1999
NCP/bh
Attachment
