EXTENSION OF EMPLOYMENT AGREEMENT
Xxxxxx
X. Xxxxx, Xx. (“Employee”) and
FPIC Insurance Group, Inc. (“Employer”) are parties to an Employment Agreement
dated as of November 1, 2002 (the “Employment Agreement”). The
Employment Agreement provides for employment for a term beginning November
1,
2002 and ending December 31, 2004 by Employee and further provides that the
term
of Employee’s employment thereunder may be extended for additional one-year
terms prior to the end of each calendar year. The term of Employee’s
employment under the Employment Agreement has been so extended and currently
continues through December 31, 2007.
Pursuant
to Section 1(a) of the
Employment Agreement, Employer, acting through its President and Chief Executive
Officer, hereby notifies Employee that the term of Employee’s employment under
the Employment Agreement has been extended for one additional year, and,
therefore, the term of Employee’s employment under the Employment Agreement
shall continue through December 31, 2009. Furthermore, Employer
hereby notifies Employee that Employee’s annual salary provided for in Section
2(a) of the Employment Agreement shall be $436,800 for 2008.
IN
WITNESS WHEREOF, this Extension of
Employment Agreement has been executed this 11th day of December
2007.
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Accepted: |
FPIC
INSURANCE GROUP, INC.
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/s/ Xxxxxx X. Xxxxx, Xx. |
By:
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/s/
Xxxx X. Xxxxx
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Xxxxxx
X. Xxxxx, Xx.
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Xxxx
X. Xxxxx
President
and Chief Executive Officer
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