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EXHIBIT 10
AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT
THIS AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT (this "Amendment") is
effective as of February 11, 2001, by and between LifePoint CSGP, LLC, a
Delaware limited liability company (the "Company"), and Xxxxx X. Xxxxxxxxx, Xx.
(the "Executive").
W I T N E S S E T H:
WHEREAS, the Executive and LifePoint Hospitals, Inc., a Delaware
corporation ("LifePoint"), entered into an Employment Agreement, dated as of
June 8, 2000, relating to the Executive's service as Chairman of the Board of
Directors and Chief Executive Officer of LifePoint (the "Employment Agreement");
WHEREAS, LifePoint assigned its right, title, interest and obligations
in the Employment Agreement to the Company; and
WHEREAS, the Company and the Executive have agreed to amend the
Employment Agreement as provided in this Amendment.
NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties hereto agree as
follows:
1. Annual Bonus. The second sentence of Section 2(b) of the Employment
Agreement is deleted in its entirety and the following substituted in lieu
thereof:
"Such Annual Bonus for any calendar year shall equal 75% of his Base
Salary (as in effect on the last day of such year) if LifePoint shall
achieve but not exceed the applicable Annual Targets and shall exceed
75% of such Base Salary if LifePoint shall exceed the applicable Annual
Targets, but in no event shall such Annual Bonus exceed 100% of such
Base Salary."
2. Counterpart Signatures. This Amendment may be executed in
counterparts, each of which shall be deemed an original, but all of which shall
constitute one and the same instrument.
3. Binding Effect. Except as hereby modified, the Employment Agreement
shall remain in full force and effect, and is hereby ratified by the parties.
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IN WITNESS WHEREOF, the parties hereto have executed this Amendment
effective as of the date first written above.
LIFEPOINT CSGP, LLC
By: /s/ Xxxxxxx X. Xxxxxxxxx III
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Xxxxxxx X. Xxxxxxxxx III
Senior Vice President and
General Counsel
/s/ Xxxxx X. Xxxxxxxxx, Xx.
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Xxxxx X. Xxxxxxxxx, Xx.
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