{"id":39954,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/first-amendment-to-employment-agreement-drkoop-com-inc-and3.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"first-amendment-to-employment-agreement-drkoop-com-inc-and3","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/first-amendment-to-employment-agreement-drkoop-com-inc-and3.html","title":{"rendered":"First Amendment to Employment Agreement &#8211; DrKoop.com Inc. and Richard Rosenblatt"},"content":{"rendered":"<pre>\n                               FIRST AMENDMENT TO\n                              EMPLOYMENT AGREEMENT\n\n               This First Amendment (\"Amendment\") is made and entered into\neffective as of October 1, 2001 (the \"Effective Date\") to the Employment\nAgreement referenced below by and between drkoop.com, Inc., DBA Dr. Koop\nLifeCare Corporation (\"Company\" or \"Employer\"), and Richard Rosenblatt, an\nindividual (\"Employee\") (together the \"Parties\").\n\n                                    RECITALS\n\n               WHEREAS, the Parties had entered into an Employment Agreement on\nAugust 22, 2000 (the \"Original Agreement\"); and\n\n               WHEREAS, the Parties now want to amend the Original Agreement to\nmake such changes as are specifically covered herein and as specifically\nidentified in italics.\n\n                                    AGREEMENT\n\n               NOW, THEREFORE, for good and valuable consideration, and in\nconsideration of the mutual covenants and conditions herein set forth, the\nreceipt and sufficiency of which is hereby acknowledged, the Parties agree as\nfollows:\n\n        Section 4.1 is hereby deleted and revised to read in its entirety as\nfollows:\n\n        Base Compensation. A salary in the amount of $131,250 per year to be\npaid consistent with the standard payroll practices of Employer in place from\ntime-to-time, as may be adjusted from time-to-time by the Board in its\ndiscretion (the \"Base Compensation\"). The Parties acknowledge that the\naforementioned salary represents a reduction from said salary set forth in the\nOriginal Agreement. Said reduction shall be deferred, and consequently accrued\nby Employee until Employer achieves cash flow surplus on a pro-forma operating\nbasis. Upon achieving said status, Employer will revert Employee's salary to the\namount set forth in the Original Agreement and reimburse Employee the accrual\nover a three-month period, provided that said reimbursement does not result in a\nmonthly cash flow deficit by Employer. In the event Employer cannot raise\nadditional operating capital sufficient to continue its business operations,\nEmployer shall use its best efforts to reimburse the aforementioned accrual to\nEmployee. However, the Parties acknowledge that this representation of \"best\nefforts\" does not amount to a promise or guarantee on the part of Employer. The\nParties further acknowledge that any and all salary-related consideration\nreferenced in Employee's Original Agreement and otherwise, including but not\nlimited to severance pay and vacation accrual, shall be controlled and governed\nby the base salary amount referenced in the Original Agreement. In the event of\nchange of control on the part of Employer or termination of Employee without\ncause or good reason, all accrued salary shall become immediately due and\npayable to Employee.\n\n                                 **************\n\n\n\nExcept as set forth in this Amendment, the Original Agreement shall remain in\nfull force and effect and references in the Original Agreement to \"this\nAgreement\", \"hereunder\", \"herein\", \"hereof\", and words of like effect shall mean\nthe Original Agreement as so amended by this Amendment.\n\nThis Amendment may be executed in one or more counterparts and\/or by facsimile,\neach of which shall be deemed an original and all of which signed counterparts,\ntaken together, shall constitute one instrument.\n\nIN WITNESS WHEREOF, the Parties have executed this Amendment as of the Effective\nDate referenced above.\n\n\nEmployee                                     Dr. Koop LifeCare Corporation\n\n\nBy: \/s\/ RICHARD ROSENBLATT                   By: \/s\/ CHRISTOPHER PETROVIC\n   --------------------------------             --------------------------------\nName: Richard Rosenblatt                     Name:  Christopher Petrovic\n                                             Title: Vice President\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[7359],"corporate_contracts_industries":[9438],"corporate_contracts_types":[9539,9544],"class_list":["post-39954","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-drkoopcom-inc","corporate_contracts_industries-health__misc","corporate_contracts_types-compensation","corporate_contracts_types-compensation__employment"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/39954","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=39954"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=39954"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=39954"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=39954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}