Current assets
EX-10.2 3 c07595exv10w2.htm EXHIBIT 10.2 Exhibit 10.2
Exhibit 10.2
SECOND AMENDMENT TO THE
JEFFREY G. PARK EMPLOYMENT AGREEMENT
JEFFREY G. PARK EMPLOYMENT AGREEMENT
WHEREAS, Jeffrey G. Park (the Executive) and SXC Health Solutions Corporation and its subsidiary, SXC Health Solution, Inc. (collectively, the Company) executed an employment agreement (Agreement) effective as of June 30, 2008;
WHEREAS, the Board of Directors of the Company (the Board), through its Compensation Committee (the Committee), has determined that the Agreement should be amended to clarify the intent of the parties as to the acceleration of unvested units of equity in the Company held by Executive in the event of termination for various reasons; and
WHEREAS, the Committee and Executive desire to amend the Agreement to clarify the intent of the parties as aforesaid;
NOW, THEREFORE, BE IT RESOLVED, in accordance with the foregoing recitals, the Agreement is amended as follows: |
1. | Subsection 3.7(b) of the Agreement shall be deleted in its entirety and replaced with the following: |
b. Upon termination of Executives employment due to Termination by the Company without Cause, Termination due to Death or Total Disability, or Termination Arising Out of a Change of Control, all unvested units of equity in the Company held by Executive, including stock options and restricted stock units, whether granted in this Agreement or by a separate agreement or document, shall immediately vest. For clarification, no unvested units of equity in the Company held by Executive shall vest if Executives employment with the Company terminates due to Termination by the Company for Cause or Resignation by Executive.
IN WITNESS WHEREOF, the Chairman of the Committee and Executive hereby adopt this Second Amendment to the Agreement, which Amendment is effective as of September 1, 2010.
COMPANY:
SXC HEALTH SOLUTIONS CORPORATION | |||||
and SXC HEALTH SOLUTIONS, INC. | |||||
By: | /s/ Steven Cosler | September 1, 2010 | |||
Chairman of the Compensation Committee | Date | ||||
of the Companys Board of Directors | |||||
EXECUTIVE: | |||||
By: | /s/ Jeffrey Park | September 1, 2010 | |||
Jeffrey G. Park | Date |