EXHIBIT
10.17
AMENDMENT NO. 1 TO EMPLOYMENT
AGREEMENT
This Amendment No. 1 dated
March 13, 2009 (the “Amendment”) to the Employment
Agreement dated as of March 22, 2007 (the “Original
Agreement”) by and between The Providence Service
Corporation, a Delaware corporation, with its principal office
located at 5524 East Fourth Street, Tucson, Arizona 85711, its
successors and assigns (hereinafter collectively referred to as
“Company”), and Fred D. Furman, an individual residing
at 3858 Modena Place, San Diego, California 92130
(“Employee” and together with the Company, the
“parties”).
WHEREAS, the parties entered into
the Original Agreement providing for the terms and conditions of
the employment of Employee by the Company;
WHEREAS, the parties wish to amend
certain provisions of the Original Agreement as set forth herein;
and
WHEREAS, the Employee understands
that he will be responsible for the payment of any taxes incurred
by him as a result of the benefits being provided to him by the
Company herein.
NOW, THEREFORE, in consideration of
the facts, mutual promises, and covenants contained herein and
intending to be legally bound hereby, the parties hereto agree as
follows:
1. Life Insurance for the Benefit
of Employee. Subsection 4(c) of the Original Agreement
(Benefits) is hereby amended by adding “(i)” after the
caption “ Benefits.” and by the addition of the
following as new subsection 4(c)(ii):
“In addition to the foregoing
Benefits, the Company shall, subject to the terms hereof, use its
reasonable efforts to procure and maintain term life insurance on
the life of Employee for a period of five (5) years. Such life
insurance shall be in the amount of $810,000. Employee shall be the
owner of the term life insurance policy obtained by the Company,
and shall have
