Letter Agreement Regarding Severance Terms Between Rotech Healthcare Inc. and Steven Alsene
Rotech Healthcare Inc. and Steven Alsene, Interim Chief Financial Officer, agree that if Alsene's employment is terminated without cause, his position is reduced below Vice President of Finance, or his base salary drops below $190,000 before June 30, 2007, the company will pay him one year's salary plus bonus within one month. This agreement outlines severance protections for Alsene during his tenure.
Exhibit 10.2
August 7, 2006
Steven Alsene
Interim Chief Financial Officer
Rotech Healthcare Inc.
2600 Technology Drive
Suite 300
Orlando, FL 32804
Dear Steve,
This letter will confirm the Company’s agreement with you, that if prior to June 30, 2007 your employment is terminated for other than cause, or your position within the company is reduced to below that of Vice President of Finance or your base salary is reduced below $190,000 per annum then the company will pay you, within one month one years salary plus bonus.
| Yours sincerely, |
| /s/ P.L. Carter |
| P.L. Carter |
| Chief Executive Officer |
| /s/ S. Alsene |
| S. Alsene |
| Interim CFO |
| Date 8/17/06 |
2600 Technology Drive, Suite 300 • Orlando, Florida 32804 • 407 ###-###-####
