AMENDMENT 2 TO EMPLOYMENT AGREEMENT
BETWEEN PEDIATRIX MEDICAL GROUP, INC.
and XXXXXXX XXXXXXXX
This is Amendment 2 to the Employment Agreement by and between XXXXXXX
XXXXXXXX ("Executive") and PEDIATRIX MEDICAL GROUP, INC. (the "Company") dated
November 6, 1995 (the "Employment Agreement"). Except as specifically set forth
below, all terms and conditions of the Employment Agreement remain effective and
binding upon the parties.
Effective on November 5, 1998, Section 1.1 Employment and Term
of the Employment Agreement shall be amended to read: "The Company
hereby agrees to continue to employ the Executive and the Executive
hereby agrees to continue to serve the Company, on the terms and
conditions set forth herein, for a period (the "Extended Term") beyond
the Initial Term and commencing on November 6, 1998 and expiring on
December 31, 2001 (the "Expiration Date") unless sooner terminated as
hereinafter set forth. The Extended Term of this Agreement, and the
employment of the Executive hereunder, shall be automatically extended
for one (1) year periods thereafter until terminated in accordance
hereunder (The Initial Term, the Extended Term and any automatic
extensions shall be hereinafter referred to as the "Employment
Period")."
Effective on November 5, 1998, Section 2.1 Base Salary of the
Employment Agreement shall be amended to read: "The Executive shall
receive a base salary at the annual rate of not less than Two Hundred
Thousand Dollars ($200,000.00) (the "Base Salary") during the term of
this Agreement, with such Base Salary payable in installments
consistent with the Company's normal payroll schedule, subject to
required applicable withholding for taxes. The Base Salary shall also
be reviewed, at least annually, for merit increases and may, by action
and at the discretion of the Board, be increased at any time or from
time to time."
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Effective on November 5, 1998, Section 2.2 Performance Bonus
shall be deleted in its entirety.
IN WITNESS WHEREOF, the parties have executed this Amendment 1 the 13th
day of October, 1998.
PEDIATRIX MEDICAL GROUP, INC. EXECUTIVE
/s/ Xxxxxxxx X. Xxxxxx /s/ Xxxxxxx Xxxxxxxx
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Xxxxxxxx X. Xxxxxx Xxxxxxx Xxxxxxxx
Vice President and Chief Operating Officer
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