Amendment to Employment Agreement between Ramsay Youth Services, Inc. and Jorge Rico

Summary

Ramsay Youth Services, Inc. and Jorge Rico have agreed to amend Rico's existing employment agreement. Effective June 30, 2002, Rico's annual base salary is increased to $200,000, and he is appointed as Chief Operating Officer, reporting to the President and CEO. All other terms of the original employment agreement remain unchanged. This amendment is confirmed by both parties' signatures.

EX-10.4 6 g77628exv10w4.txt LETTER AGREEMENT WITH RICO EXHIBIT 10.4 RAMSAY YOUTH SERVICES, INC. Columbus Center One Alhambra Plaza Suite 750 Coral Gables, Florida 33134 July 30, 2002 Mr. Jorge Rico 7215 South Prestwick Place Miami Lakes, Florida 33014 Dear Jorge: Reference is made to the letter agreement between you and Ramsay Youth Services, Inc. (then known as Ramsay Health Care, Inc) dated February 1, 1997 relating to your employment with the Company (the "Employment Agreement"). This will confirm that, effective as of the close of business on June 30, 2002, your annual base salary shall be increased to $200,000 and your position shall be Chief Operating Officer of the Company, reporting to the President and Chief Executive Officer of the Company. All other terms of the Employment Agreement continue in full force and effect. Please acknowledge your acceptance of and agreement with the foregoing by signing the enclosed counterpart of this letter, whereupon this shall constitute an amendment to the Employment Agreement. Sincerely yours, /s/ LUIS E. LAMELA ------------------------------------- Luis E. Lamela President and Chief Executive Officer Accepted and Agreed: /s/ JORGE RICO - -------------------------------- Jorge Rico