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Exhibit 10.32
May 31, 2000
Xx. Xxxxx X. Xxxx
RE: EMPLOYMENT AGREEMENT
Dear Xxxxx:
This letter shall confirm our mutual agreement to employ you as General Counsel
and Executive Vice President of US Diagnostic Inc. The terms and conditions will
be as outlined on the attached term sheet noted as Exhibit A. The only items to
be adjusted are as follows:
1. US Diagnostic Inc. shall be able to terminate the agreement upon sixty (60)
days notice by giving such notice anytime after December 31, 2000.
Notwithstanding anything to the contrary, US Diagnostic Inc. shall be
obligated for a minimum of nine (9) months.
2. The compensation of $25,000 per month and the $1,000 per month car
allowance shall be pay in accordance with US Diagnostic's regularly
scheduled payroll (bi-weekly).
The executive assistant for general counsel will also be engaged under the same
arrangement and shall also be paid in conjunction with the company's regularly
scheduled payroll.
Please confirm your agreement by signing a copy of this letter where indicated
and return same to my attention.
Xxxxx, I look forward to working with you in the future.
Very truly yours,
/s/ Xxxxxx X. Xxxx
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Xxxxxx X. Xxxx
President & Chief Executive Officer
AGREED TO AND ACKNOWLEDGED BY:
/s/ Xxxxx X. Xxxx June 1, 2000
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Xxxxx X. Xxxx Date
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EXHIBIT A
TERM SHEET
POSITION: General Counsel and Executive Vice President
TERM: One Year.
COMMENCEMENT DATE: June 1, 2000 (Full time, provided that during
any notice time frame to existing employer, pro-rata
compensation (base salary) shall be payable to
existing employer).
EARLY TERMINATION: Terminable on or after 9 months upon 60
days advance notice.
COMPENSATION: $25,000 per month.
BENEFITS: Standard United States Diagnostics (USD) Senior
Executive benefit package, coverage and benefits
commencing on first day of employment.
CAR ALLOWANCE: $1,000 per month.
EXPENSE REIMBURSEMENT: Standard USD Senior Executive
reimbursement policy, including dues and expenses
associated with professional affiliations.
LIABILITY INSURANCE: Standard USD Senior Executive directors &
officers liability insurance coverage commencing on
first day of employment.
EXECUTIVE ASSISTANT FOR
GENERAL COUNSEL: To be selected by General Counsel.
a. SALARY: Equal to current salary (approximately $40,000
per year) to be paid 50% by USD and 50% by General
Counsel.
b. BENEFITS: Standard Senior Executive Assistant benefit
package, coverage and benefits commencing on first
day of employment.
OUTSIDE LEGAL PRACTICE: General Counsel may maintain outside
legal practice inside USD offices provided same do
not materially interfere with primary duty as
general counsel.
CONFIDENTIALITY: This Term Sheet shall remain confidential.
