Letter Agreement Regarding Stock Purchase Commitment between John T. Casey and MedCath Corporation

Contract Categories: Business Finance › Purchase Agreements
Summary

John T. Casey commits to purchasing $250,000 of MedCath Corporation common stock in the open market within ten business days after the public announcement of his appointment as Chief Executive Officer. The purchase will comply with MedCath's Insider Trading Policy and all applicable laws. If legal or regulatory requirements delay the purchase window, Casey will complete the purchase as soon as permitted. This commitment is made in connection with his new employment agreement with MedCath.

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EX-10.55 4 g86381exv10w55.txt EX-10.55 LETTER AGREEMENT September 3, 2003 Mr. Stephen R. Puckett Chairman MedCath Corporation 10720 Sikes Place Suite 300 Charlotte, NC 28277 Dear Steve: This letter will confirm my commitment to MedCath Corporation to purchase $250,000 of MedCath Corporation Common Stock in the open market over a period of ten business days following the public announcement that I have become the Chief Executive Officer of MedCath (the "Window"). This purchase will be made in accordance with MedCath's Insider Trading Policy as well as other laws and regulations which are applicable to the purchase of MedCath securities by an executive officer and director of MedCath. Upon the advice of MedCath's counsel, the Window will be delayed as needed in order to assure compliance with all laws and regulations. If the Window is delayed, I will then complete this purchase of stock promptly thereafter. I am making this commitment in consideration of and in connection with my entering into an Employment Agreement with MedCath which I am executing contemporaneously with my delivery of this letter to you. Sincerely yours, /s/ John T. Casey John T. Casey