Resignation Letter and Option Vesting Agreement between Dr. Warren F. Melamed and Monarch Dental Corporation

Contract Categories: Human Resources › Separation Agreements
Summary

Dr. Warren F. Melamed agrees to resign as Chairman of the Board of Monarch Dental Corporation, effective October 18, 2000, but will continue to serve as a director. As part of this agreement, all of Dr. Melamed's unvested stock options under his 1997 Non-qualified Stock Option Agreement will become fully vested immediately. His prior Separation Agreement with Monarch remains in effect, except as amended by this letter.

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EX-10.3 4 d81819ex10-3.txt RESIGNATION LETTER BY DR. WARREN F. MELAMED 1 EXHIBIT 10.3 October 18, 2000 The Board of Directors of Monarch Dental Corporation 4201 Spring Valley Road, Suite 320 Dallas, TX 75244 Dear Sirs: I hereby agree to resign as Chairman of the Board of Directors of Monarch Dental Corporation ("Monarch") effective as of today. In connection with the foregoing, it is understood and agreed that I shall remain a director of Monarch, all unvested options under my Non-qualified Stock Option Agreement, dated as September 28, 1997, shall become fully vested as of the date hereof, and my Separation Agreement with Monarch dated March 26, 1999 shall, except as expressly amended hereby, otherwise remain in full force and effect. Sincerely, Dr. Warren F. Melamed