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EXHIBIT 10.13
AMENDMENT NO. 3
TO EMPLOYMENT AGREEMENT
AGREEMENT dated as of May 15, 1995 between _______________
("Employee") and Chemed Corporation (the "Company").
WHEREAS, Employee and the Company have entered into an Employment
Agreement dated as of May 19, 1992 and amended May 17, 1993 and May 16, 1994,
("Employment Agreement"); and
WHEREAS, Employee and the Company desire to further amend the
Employment Agreement in certain respects.
NOW THEREFORE, Employee and the Company mutually agree that the
Employment Agreement shall be amended, effective as of May 15, 1995, as
follows:
A. The base salary amount per annum as set forth in the first
sentence of Section 2.1 of the Employment Agreement is hereby
deleted and the base salary amount of $____________ per annum
is hereby substituted therefor.
B. The date of May 31, 1997 set forth in Section 1.2 of the
Employment Agreement, is hereby deleted and the date of May
31, 1998 is hereby substituted therefor.
C. Section 3.1(b) is hereby deleted and Section 3.1(c) is
renumbered as Section 3.1(b) reading as follows:
SECTION 3.1(b) The termination by the Company of the
Employee's employment for Cause pursuant to Section 3.2.
The termination by the Company of Employee's
employment hereunder for any reason other than those
specified in paragraphs (a) and (b) above
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shall hereinafter be referred to as a termination
"Without Cause". Any disability of an Employee shall
not be grounds for termination.
D. Section 3.2 is hereby deleted.
Except as specifically amended in this Amendment No. 3 to Employment
Agreement, the Employment Agreement shall continue in full force and effect in
accordance with its original terms, conditions and provisions.
IN WITNESS WHEREOF, the parties have duly executed this amendatory
agreement as of the date first above written.
EMPLOYEE
___________________________________
CHEMED CORPORATION
___________________________________
BY: Xxxx X. Xxxx
Executive Vice President
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EXHIBIT A
Current
Current Current Expiration
Salary & Stock Award Date of
Name and Position Age Bonus Compensation (b) Agreement
----------------------------------------------------------------------------------------------------------
Xxxxxxx X. Xxxxxxxxx 48 $145,000 $25,777 5/31/97
Executive Vice President/ 42,000
General Manager of
National West
Xxxx X. Xxxxxx 45 $ 95,000 $23,302 5/31/97
Vice President, Chief 26,000
Financial Officer &
Treasurer (a)
Xxxxxx X. Xxxxxxx, Xx. 37 $ 82,500 $18,105 5/31/97
Vice President - Corporation 16,000
Planning (a)
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(a) Employment Agreements executed with Chemed Corporation; reimbursement
to be provided by the Company.
(b) Amount of unrestricted Company stock awards recognized in lieu of
incentive compensation in 1994.
