Attached files
file | filename |
---|---|
10-Q - FORM 10-Q - AMERICAN PHYSICIANS CAPITAL INC | k49512e10vq.htm |
EX-32.1 - EX-32.1 - AMERICAN PHYSICIANS CAPITAL INC | k49512exv32w1.htm |
EX-31.1 - EX-31.1 - AMERICAN PHYSICIANS CAPITAL INC | k49512exv31w1.htm |
EX-99.1 - EX-99.1 - AMERICAN PHYSICIANS CAPITAL INC | k49512exv99w1.htm |
EX-31.2 - EX-31.2 - AMERICAN PHYSICIANS CAPITAL INC | k49512exv31w2.htm |
Exhibit 10.59
AMENDMENT NO. 2 TO
AMERICAN PHYSICIANS ASSURANCE CORPORATION
EXECUTIVE EMPLOYMENT AGREEMENT
AMERICAN PHYSICIANS ASSURANCE CORPORATION
EXECUTIVE EMPLOYMENT AGREEMENT
THIS AMENDMENT No. 2, dated June 22, 2010, amends the Employment Agreement between American
Physicians Assurance Company (the Company) and [ ] (the Executive) dated as of [ ], 2005, as
amended (the Employment Agreement).
WHEREAS, the Board and the Executive desire to clarify certain provisions of the Employment
Agreement;
WHEREAS, Section 17 of the Employment Agreement permits the parties to amend the Employment
Agreement by a written agreement that specifically references the Employment Agreement and the
parties hereto desire and intend for this Amendment No. 2 to fulfill the requirements of Section
17; and
WHEREAS, the Compensation Committee of the Board has determined that the terms of this
Amendment No. 2 are in ACAPs and the Companys best interests;
NOW THEREFORE, in consideration of the foregoing and other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged by the parties, the Employment
Agreement is amended as set forth below.
1. The introductory sentence in Section 7(d) is hereby amended and restated in its entirety to
read as follows:
In the event the Executives employment is terminated under
Section 6(d) or 6(e), the Company shall pay or provide to the
Executive or his personal representative, subject to the Executive
or the personal representative signing and delivering to the Company
a release and separation agreement reasonably acceptable to the
Company, which shall become final and binding no later than 30 days
following the Date of Termination:
3. Except as specifically modified herein, the remaining provisions of the Employment
Agreement remain in full force and effect.
4. The term Employment Agreement as used in the Employment Agreement shall be deemed to
refer to the Employment Agreement as amended through the date hereof (including without limitation
by this Amendment No. 2).
5. This Amendment may be executed in two or more counterparts, each of which shall be deemed
an original, but all of which together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 2 to be duly executed as
of the day and year first above written.
EXECUTIVE
(signature)
[ ] (name)
[ ] (name)
AMERICAN PHYSICIANS ASSURANCE CORPORATION
AMERICAN PHYSICIANS CAPITAL, INC.
AMERICAN PHYSICIANS CAPITAL, INC.
By:
Name: [ ]
Name: [ ]
Title: [ ]