Amendment No. 14 to Employment Agreement between Chemed Corporation and Employee

Contract Categories: Human Resources › Employment Agreements
Summary

This amendment updates the employment agreement between Chemed Corporation and the Employee, originally dated May 2, 1988 and previously amended several times. The changes include revising the agreement's expiration date, updating the Employee's base salary, and specifying the amount of unrestricted stock awarded in lieu of incentive compensation for 2001. All other terms of the original agreement remain unchanged. The amendment is effective as of May 15, 2000, and both parties have agreed to these modifications.

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EX-10.21 7 l99233aexv10w21.txt EX-10.21 EXHIBIT 10.21 AMENDMENT NO. 14 TO EMPLOYMENT AGREEMENT AGREEMENT dated as of August 7, 2002 between ____________ ("Employee") and Chemed Corporation (the "Company"). WHEREAS, Employee and the Company have entered into an Employment Agreement dated as of May 2, 1988 and amended May 15, 1989, May 21, 1990, May 20, 1991, May 18, 1992, May 17, 1993, May 16, 1994, May 15, 1995, May 20, 1996, May 19, 1997, May 18, 1998, May 17, 1999, May 15, 2000 and January 2, 2002 ("Employment Agreement"); and WHEREAS, Employee and the Company desire to further amend the Employment Agreement in certain respects. NOW, THEREFORE, Employee and the Company mutually agree that the Employment Agreement shall be amended, effective as of May 15, 2000, as follows: A. The date, amended as of May 15, 2000, set forth in Section 1.2 of the Employment Agreement, is hereby deleted and the date of ____________ is hereby substituted therefore. B. The base salary amount set forth in the first sentence of Section 2.1 of the Employment Agreement is hereby deleted and the base salary amount of $____________ per annum is hereby substituted. C. The amount of unrestricted stock award recognized in lieu of incentive compensation in 2001 is $_________________. Except as specifically amended in this Amendment No. 14 to Employment Agreement, the Employment Agreement, as amended, shall continue in full force and effect in accordance with its terms, conditions and provisions. IN WITNESS WHEREOF, the parties have duly executed this amendatory agreement as of the date first above written. EMPLOYEE --------------------- CHEMED CORPORATION --------------------- SCHEDULE TO EXHIBIT 10.21
CURRENT CURRENT (b) SALARY AND STOCK AWARD CURRENT EXPIRATION NAME AND POSITION BONUS (a) COMPENSATION DATE OF AGREEMENT - ----------------- ----------- ------------ ----------------- T. S. O'Toole $240,800 $160,992 5/3/2007 Executive Vice President 89,839 and Treasurer A. V. Tucker 140,600 67,413 5/3/2006 Vice President and 53,023 Controller
(a) Bonus paid in 2002 for 2001 services. (b) Represents stock awards that would have vested in 2002 (for 2001 service) under their original vesting schedules. Also includes shares granted in February 2002 with immediate vesting.