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 Thomas F. Kirk
(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, among other things, 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:
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Effective as of March 1, 2008, the Executive shall serve Hanger
in the position of President and Chief Executive Officer and the
Company in the position of Chief Executive Officer. 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, responsibility for the overall performance of Hanger
and all of Hanger’s subsidiaries. The Executive shall devote
his full business time and attention to the performance of his
duties and responsibilities hereunder. |
1.2
Section 3.1 of the Agreement shall be amended by deleting the first
two sentences in their entirety and replacing them with the
following: “Effective as of Janua
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