Attached files
| file | filename |
|---|---|
| 10-Q - FORM 10-Q - SELECT MEDICAL HOLDINGS CORP | c16406e10vq.htm |
| EX-31.1 - EXHIBIT 31.1 - SELECT MEDICAL HOLDINGS CORP | c16406exv31w1.htm |
| EX-31.2 - EXHIBIT 31.2 - SELECT MEDICAL HOLDINGS CORP | c16406exv31w2.htm |
| EX-32.1 - EXHIBIT 32.1 - SELECT MEDICAL HOLDINGS CORP | c16406exv32w1.htm |
Exhibit 10.8
AMENDMENT NO. 1 TO
EMPLOYMENT AGREEMENT
EMPLOYMENT AGREEMENT
This is an amendment, dated as of March 21, 2011 (the “Amendment”) to the Employment Agreement
made as of the 10th day of November, 2010 (the “Employment Agreement”), by and between
SELECT MEDICAL CORPORATION, a Delaware corporation (the “Employer”), and DAVID S. CHERNOW, an
individual (the “Employee”).
Background
Employer and Employee executed and delivered the Employment Agreement and now desire to amend
the Employment Agreement as provided herein.
Agreement
1. A new Section 5.01(c) is hereby added to the Employment Agreement to read as follows:
"(c) Failure to Achieve Minimum Value. Notwithstanding anything contained herein to the
contrary, in the event that Employee’s employment is terminated in a manner that would have
entitled him to receive the benefits set forth in (i) Section 5.01(a) had the Minimum Value (as
defined in Section 5.02(a)) been achieved, then Employee shall be entitled to receive the severance
benefits set forth therein (and not in Section 2.02(d)); provided, however, that the severance
benefit set forth in clause (B) thereof shall be paid in equal installments on each of Employer’s
regular payroll dates over the twelve (12) month period following such termination; provided
further, however, that the commencement of such payments shall be delayed until the first payroll
date of the seventh month following such termination and the first payment made shall include the
payments that otherwise would be made had such delay not been imposed and (ii) Section 5.01(b) had
the Minimum Value been achieved, then Employee shall be entitled to receive the severance benefits
set forth therein (and not in Section 2.02(d)(ii)), in each case, notwithstanding the fact that the
Minimum Value was not achieved.”
2. Except as amended hereby, the Employment Agreement shall continue in effect in accordance with
its terms.
Please indicate your acceptance of the above Amendment by signing below in the space indicated.
Very truly yours,
SELECT MEDICAL CORPORATION, a
Delaware Corporation
Delaware Corporation
By:
|
/s/ Michael E. Tarvin | /s/ David S. Chernow | ||||
| Michael E. Tarvin, | David S. Chernow | |||||
| Executive Vice President |