AMENDMENT TO EMPLOYMENT AGREEMENT
Amendment to Employment Agreement (the "Amendment"), dated effective
July 12, 1997, by and between Pentegra Dental Group, Inc., a Delaware
corporation (the "Company"), and Xxxxx X. Xxxx, Xx. ("Employee").
W I T N E S S E T H
WHEREAS, the parties hereto entered into that certain Employment
Agreement (as amended, the "Employment Agreement") dated July 12, 1997 among
the Company and Employee.
WHEREAS, the parties hereto desire to amend the Employment Agreement as
set forth herein.
NOW, THEREFORE, for and in consideration of the mutual promises and
covenants contained herein and other good and valuable consideration, the
undersigned do hereby agree as follows:
1. Exhibit A to the Employment Agreement is hereby amended in its
entirety to read as set forth on Exhibit A attached hereto and made a part
hereof.
2. The Employment Agreement shall be hereby amended to reflect the
foregoing agreement of the parties hereto. Except as amended hereby, the
Employment Agreement shall remain unchanged.
3. Terms used herein with their initial letter capitalized and not
otherwise defined shall have the meaning assigned to such terms in the
Employment Agreement.
Executed to be effective as of the day and year first set forth above.
PENTEGRA DENTAL GROUP, INC.
By: /s/ Xxxx X. Xxxxxxx
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Xxxx X. Xxxxxxx, President
EMPLOYEE
/s/ Xxxxx X. Xxxx. Jr.
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Xxxxx X. Xxxx, Xx.
EXHIBIT A
BONUS
Employee shall be eligible to receive an annual cash bonus in an
amount equal to up to 25% of his base salary in the event that the Company
experiences at least 20% or greater growth in earnings per share on a year to
year basis (calculated on a pro forma basis for the calendar year prior to
the Company's first fiscal year of operations). For purposes of determining
the applicable year's earnings per share, the cash bonus payable hereunder
and under all other similar agreements between the Company and its officers
shall be included prior to such determination.
Percentage Increase in Bonus as a Percentage
Earnings Per Share Of Annual Base Salary
20.0-22.5% 5%
Over 22.5-25.0% 10%
Over 25.0% to 27.5% 15%
Over 27.5% to 30.0% 20%
Over 30.0% 25%
