STATE OF NORTH CAROLINA FIRST AMENDMENT
TO
COUNTY OF DURHAM EMPLOYMENT AGREEMENT
THIS FIRST AMENDMENT TO EMPLOYMENT AGREEMENT (this "Amendment") is made and
entered into effective the 1st day of September, 1999 by and between PHYAMERICA
PHYSICIAN SERVICES OF SOUTH FLORIDA, INC., f/k/a Coastal Physician Services of
South Florida, Inc. ("the "Employer" or "PhyAmerica"), a Florida corporation,
and XXXXXXX XXXXXXXX, M.D. ("Employee").
W I T N E S S E T H
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WHEREAS, Employer and Employee have previously entered into an employment
agreement dated January 1, 1998 (the "Agreement") under which Employee is
currently employed by Employer; and
WHEREAS, Employer and Employee desire to modify the existing terms of
employment of Employee to increase his Base Salary;
NOW, THEREFORE, in consideration of the terms and conditions set forth in
this Amendment, the parties hereby agree that the Agreement is hereby modified
as follows:
1. AMENDMENT TO EXHIBIT A. Section 1 of EXHIBIT A, Compensation, attached
to the Agreement is hereby amended as of September 1, 1999, to increase the Base
Salary of Employee from $240,000 per annum to $300,000 per annum.
2. This Amendment shall be an amendment and modification to the Agreement
and shall become part of the Agreement and employment arrangement between
Employee and Employer from and after the date of this Amendment. All capitalized
terms not defined herein shall have the same meaning as set forth in the
Agreement. Any conflict between terms of this Amendment and the Agreement will
be resolved in favor of this Amendment. Except as amended herein, all terms of
the Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the date
first above written.
PHYAMERICA PHYSICIAN SERVICES
OF SOUTH FLORIDA, INC.
By:_____________________________
Its:____________________________
ATTEST:
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Secretary
[Corporate Seal]
____________________________(SEAL)
Xxxxxxx
Xxxxxxxx,
M.D.
NORTH CAROLINA
DURHAM COUNTY
I, __________________________________, a Notary Public of the aforesaid
County and State, do hereby certify that _______________________ personally
appeared before me this day and acknowledged that (s)he is the ______________ of
PHYAMERICA PHYSICIAN SERVICES OF SOUTH FLORIDA, INC., a Florida corporation, and
that by authority duly given and as an act of the corporation, the foregoing
instrument was signed in its name by its ___________, and attested by
herself/himself as ____________________, and sealed with its common corporate
seal.
Witness my hand and notarial seal this ____ day of _____________, 1999.
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Notary Public
My Commission Expires:
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NORTH CAROLINA
DURHAM COUNTY
I, _______________________________, a Notary Public of the aforesaid County
and State, do hereby certify that XXXXXXX XXXXXXXX, M.D. personally appeared
before me this day and acknowledged the execution of the foregoing instrument.
Witness my hand and notarial seal this ____ day of _________, 1999.
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Notary Public
My Commission Expires:
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