1
EXHIBIT 10.10
2
XXXXX CORPORATION (logo)
August 14, 1997.
PERSONAL AND CONFIDENTIAL
Xx. Xxxxxx X. Xxxxxx,
President,
Xxxxx Health Care,
000 Xxxxxxxxxx Xxxx,
Xxxxxxxxxx, X.X. 00000
X.X.X.
Dear Xxx,
This letter will constitute our agreement that (1) if any time during the
three months following a sale of all or substantially all of the assets of the
Xxxxx Health Care Division you are terminated without cause by the buyer of
such assets or (2) if at the time of such sale you decline any offer of
employment made to you by such buyer, Xxxxx Corporation will pay you for
services rendered in an amount equal to one year's salary based on your salary
level then in effect, such payment to be made on the last day of your
employment with the Xxxxx Health Care Division or such buyer as the case may be.
Nothwithstanding the above, no payment shall be due to you if you resign
following acceptance of any such offer of employment by such buyer, die or
become disabled or are terminated for cause by such buyer.
Yours sincerely,
XXXXX CORPORATION
Xxxxxx X. XxxXxxxxx,
Chairman and Chief
Executive Officer.
