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Title: |
Employment Agreement |
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Date: |
2004 |
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Preview shows 5KB of 35KB total |
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Price: |
$44 |
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ID: |
#423043 |
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EMPLOYMENT AGREEMENT
EMPLOYMENT AGREEMENT dated as of November 15, 2004, by and between LINCARE HOLDINGS INC., a Delaware corporation (Lincare or Company), and JOHN P. BYRNES (Executive).
W I T N E S S E T H:
WHEREAS, Executive is employed by Company and is subject to the terms of that certain Employment Agreement by and between Executive and Company dated December 15, 2001 (the 2001 Agreement);
WHEREAS, Executives Initial Employment Term (as defined in the 2001 Agreement) will expire on December 31, 2004;
WHEREAS, Company desires to induce Executive to continue in the employ of Company beyond the expiration of the Initial Employment Term established in the 2001 Agreement for the period provided in this Agreement; and
WHEREAS, Executive is willing to accept such employment with Company on a full-time basis, all in accordance with the terms and conditions set forth below.
NOW, THEREFORE, for and in consideration of the premises hereof and the mutual covenants contained herein, the parties hereto do hereby covenant and agree as follows:
1. Employment.
(a) Company hereby agrees to continue employing Executive, and Executive hereby agrees to continue his employment with Company, from and after January 1, 2005 for the period set forth in Section 2 hereof, all upon the terms and conditions hereinafter set forth.
(b) Executive affirms and represents that he is under no obligation to any former employer or other party which is in any way inconsistent with, or which imposes any restriction upon, Executives acceptance of employment hereunder with Company, the employment of Executive by Company, or Executives undertakings under this Agreement.
2. Term of Employment. Unless earlier terminated as hereinafter provided, the initial term of Executives employment under this Agreement shall be for a period beginning on January 1, 2005 and ending on December 31, 2009 (such period from January 1, 2005 until December 31, 2009 or, if Executives employment hereunder is earlier terminated, such shorter period, being hereinafter called the Initial Employment Term). In the event that Executive continues in the full-time employ of Company after the end of the Initial Employment Term (it being expressly understood and agreed that Company has no obligation to continue employing Executive, and Executive has no obligation to continue being employed by Company, whether or not on a full-time basis, after expiration of the Initial Employment Term), then, unless otherwise expressly agreed to by Executive and Company in writing, Executives continued employment with Company shall, notwithstanding anything to the contrary expressed or implied herein, continue to be subject to the terms and conditions of this Agreement. As used in this Agreement, the term Employment Term shall mean the period beginning on January 1, 2005 and ending on the date of Executives cessation of employment with Company, whether such date is before, on or after the expiration of the Initial Employment Term.
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