Amendment to Employment Agreement between Ramsay Youth Services, Inc. and Isabel M. Diaz

Summary

Ramsay Youth Services, Inc. and Isabel M. Diaz have agreed to amend Ms. Diaz's existing employment agreement. Effective June 30, 2002, her annual base salary is increased to $185,000, and her new position is Executive Vice President - Corporate Relations, reporting to the President and CEO. All other terms of her original employment agreement remain unchanged. The amendment is confirmed by both parties' signatures.

EX-10.5 7 g77628exv10w5.txt LETTER AGREEMENT WITH DIAZ EXHIBIT 10.5 RAMSAY YOUTH SERVICES, INC. Columbus Center One Alhambra Plaza Suite 750 Coral Gables, Florida 33134 July 30, 2002 Ms. Isabel M. Diaz 6925 Veronese Street Coral Gables, Florida 33314 Dear Isa: Reference is made to the letter agreement between you and Ramsay Youth Services, Inc. (then known as Ramsay Health Care, Inc) dated October 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 $185,000 and your position shall be Executive Vice President - Corporate Relations, 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/ ISABEL M. DIAZ - ------------------------------------ Isabel M. Diaz