AMENDMENT TO FOURTH AMENDED AND RESTATED EMPLOYMENT
AGREEMENT
This Amendment
to Fourth Amended and Restated Employment Agreement (the
“Amendment”), dated as of February 5, 2008, is entered
into by and between Hanger Prosthetics & Orthotics, Inc., a
Delaware corporation (the “Company”) and Ivan R. Sabel
(the “Executive”).
WHEREAS, the
parties hereto desire to amend the Fourth Amended and Restated
Employment Agreement, effective as of January 1, 2005, by and
between the Company and the Executive (the
“Agreement”), to set forth an increase in the
Executive’s compensation and a change in the
Executive’s title, with such amendments to be effective as of
the dates set forth herein; and
WHEREAS, the
Company desires to continue to employ the Executive and to
incentivize the Executive to remain in the employ of the
Company.
NOW, THEREFORE,
in consideration of the promises and mutual agreements set forth
below, both parties agree as follows:
SECTION 1: AMENDMENT TO AGREEMENT
1.1
Section 2 of the Agreement shall be deleted in its entirety and
replaced with the following: “Effective as of March 1, 2008,
the Executive shall serve both the Company and Hanger in the
position of Chairman. The Executive shall faithfully and diligently
perform the duties appropriate to said position, which, in addition
to those responsibilities assigned to him from time to time by the
Board of Directors of Hanger (the “Board of
Directors”), shall include, among other things
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