EXHIBIT 10.37

 

AMENDMENT NO. TWO TO

KINDRED HEALTHCARE, INC. LONG-TERM INCENTIVE PLAN

 

THIS AMENDMENT NO. TWO (“Amendment”) to the Kindred Healthcare, Inc. Long-Term
Incentive Plan (the “LTIP”) is adopted on the 16th day of December, 2003.

 

Reason for Amendment. This Amendment is intended to allow for different award
percentages under the LTIP for employees that are Senior Vice Presidents.

 

Amendment.

 

Section 2(o) of the LTIP shall be replaced in its entirety with the following:

 

(o) “Maximum Award” shall mean the highest amount that may be awarded to
Participants in certain positions or employment levels of the Company, expressed
as percentages of such Participants’ Base Salary, as follows:

 

Position/Level:    Percentage of Base Salary:

Chief Executive Officer

   100%

Members of Executive Committee

     90%

Senior Vice Presidents

     60%

Vice Presidents

     40%

Senior Corporate Managers

     25%

Other Key Employees

     15%

 

IN WITNESS WHEREOF, Kindred Healthcare, Inc. has executed this instrument on the
date first above written.

 

KINDRED HEALTHCARE, INC. By:   /s/    Edward L. Kuntz            

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    Edward L. Kuntz, Chairman and Chief Executive Officer