EXHIBIT 10.39 AMENDMENT NO. 1 TO ESCROW AGREEMENT -----------------------------------
EXHIBIT 10.39
AMENDMENT NO. 1 TO ESCROW AGREEMENT
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The undersigned Physician Health Corporation, a Delaware corporation (the
"Company"), Weston Presidio Capital II, L.P. (in its capacity only as escrow
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agent thereunder, and not as an Investor, the "Escrow Agent"), Weston Presidio
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Capital II, L.P., BancBoston Investments Inc., Mercury Asset Management plc, on
behalf of Rowan Nominees Limited, and NatWest Ventures Investments Limited
(individually an "Investor" and collectively, the "Investors") as well as the
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parties signing below as "Additional Investors") hereby agree that the
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Additional Investors join in and become party to the Escrow Agreement dated as
of June 16, 1997 (the "Escrow Agreement"), among the Company, the Escrow Agent
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and the Investors.
The undersigned have executed this Agreement under seal as of the
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day of , 1997.
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Company: PHYSICIAN HEALTH CORPORATION
By:
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Title:
Escrow Agent: WESTON PRESIDIO CAPITAL II, L.P.
By: WESTON PRESIDIO CAPITAL
MANAGEMENT II, L.P.
By:
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General Partner
Investors: WESTON PRESIDIO CAPITAL II, L.P.
By: WESTON PRESIDIO CAPITAL
MANAGEMENT II, L.P.
By:
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General Partner
BANCBOSTON INVESTMENTS INC.
By:
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Title:
MERCURY ASSET MANAGEMENT plc, on
behalf of ROWAN NOMINEES LIMITED
By:
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Title:
NATWEST VENTURES INVESTMENTS LIMITED
By:
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Title:
Additional Investors: ST. ▇▇▇▇ VENTURE CAPITAL IV, LLC
By:
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Title:
PARTECH U.S. PARTNERS III C.V.
By:
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Title:
U.S. GROWTH FUND PARTNERS C.V.
By:
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Title:
-2-
AXA U.S. GROWTH FUND LLC
By:
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Title:
DOUBLE BLACK DIAMOND II LLC
By:
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Title:
ALMANORI LIMITED
By:
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Title:
MULTINVEST LIMITED
By:
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Title:
NATIONAL CITY VENTURE CORPORATION
By:
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Title:
-3-