EXHIBIT 6.3
AMENDMENT TO EXECUTIVE EMPLOYMENT AGREEMENT
This Amendment is made as of this 2nd day of September, 1997 between
Pennsylvania Physicians Care Service Corp., a Pennsylvania corporation
("Employer") and Xxxxxxx X. Xxxxxx ("Executive").
Background
Pursuant to an Executive Employment Agreement dated September 3, 1996
(the "Employment Agreement"), Executive has been employed by Employer since
September 3, 1996.
Employer and Executive desire to amend the terms of the Employment
Agreement.
Agreement
In consideration of the foregoing, which is incorporated herein by
reference, and of the mutual covenants contained herein, the parties, intending
to be legally bound, hereby agree as follows:
1. Effective September 3, 1997, Executive's Annual Salary pursuant to
Section 4(a) of the Employment Agreement shall be increased from $200,000 to
$235,000 per year ("Annual Salary").
2. Effective September 3, 1997, Executive's eligibility for an annual
bonus pursuant to Section 4(d) of the Employment Agreement shall be increased
from an amount of up to fifteen percent (15%) of the Annual Salary to an amount
of up to twenty percent (20%) of the Annual Salary.
3. All other terms of the Employment Agreement shall remain in full
force and effect and shall be deemed unmodified and unchanged by reason of this
Agreement.
4. This Agreement shall be governed by the laws of the Commonwealth of
Pennsylvania, without giving effect to the conflict of law principles thereof.
5. This Agreement may be executed by each party upon a separate copy,
and in such case, one counterpart of this Agreement shall consist of enough of
such copies to reflect the signature of all parties. This Agreement may be
executed in two or more counterparts, each of which shall be an original and
each of which shall constitute one and the same agreement.
EXHIBIT 6.3
IN WITNESS WHEREOF, the parties have caused this Agreement to be
executed and delivered as of the date first written above.
PENNSYLVANIA PHYSICIANS
CARE SERVICE CORP.
By: /S/ Xxxx X. Xxxxx
---------------------------------
Xxxx X. Xxxxx, Chairman of Board
/S/ Xxxxxxx X. Xxxxxx
---------------------------------
Xxxxxxx X. Xxxxxx
2
