AMENDMENT TO THE SERVICE/CONSULTING AND EMPLOYMENT AGREEMENTSService/Consulting and Employment Agreements • April 2nd, 2007 • American Surgical Holdings Inc • Services-health services
In reference to those certain Service/Consulting and Employment Agreements between ASA, Inc. and Zak Elgamal, Jaime Olmo-Rivas, Bland Chamberlain, and Jose Chapa, and their respective individual corporations (“Agreements”), these Agreements are hereby modified to confirm the understanding amongst the parties and the Company that the $3,000,000 termination payment set forth in the Service/Consulting Agreements shall only become due and payable in the circumstance where the Company, upon written unanimous resolution of all directors, terminated the Service/Consulting Agreements with the Company for reasons other than cause. In the event that any of the named parties (other than the Company) terminate such Agreement for any reason prior to the maturity of the Agreement or should the Agreements reach maturity of the then current term, the termination penalty is neither due nor payable by the Company. For purposes of these Agreements, Cause shall be defined as the conviction of the person f
AMENDMENT TO THE SERVICE/CONSULTING AND EMPLOYMENT AGREEMENTSService/Consulting and Employment Agreements • April 2nd, 2007 • American Surgical Holdings Inc • Services-health services
In reference to those certain Service/Consulting and Employment Agreements between ASA, Inc. and Zak Elgamal, Jaime Olmo-Rivas, Bland Chamberlain, and Jose Chapa, and their respective individual corporations (“Agreements”), these Agreements are hereby modified to confirm the understanding amongst the parties and the Company that the $3,000,000 termination payment set forth in the Service/Consulting Agreements shall only become due and payable in the circumstance where the Company, upon written unanimous resolution of all directors, terminated the Service/Consulting Agreements with the Company for reasons other than cause. In the event that any of the named parties (other than the Company) terminate such Agreement for any reason prior to the maturity of the Agreement or should the Agreements reach maturity of the then current term, the termination penalty is neither due nor payable by the Company. For purposes of these Agreements, Cause shall be defined as the conviction of the person f
