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Exhibit 10.1
 
AMENDMENT
TO EMPLOYMENT AGREEMENT

THIS AMENDMENT (“Amendment”) is entered into as of the 26th day of March, 2020
(the “Effective Date”) by and between U.S. Physical Therapy, Inc. (the
“Company”) and Christopher Reading (“Executive”), for the purpose of amending
that certain Third Amended and Restated Employment Agreement between the Company
and Executive, dated as of May 21, 2019 (the “Employment Agreement”). The
parties hereby agree that the Employment Agreement is hereby modified as
provided herein.

 
1.
Effective as of the Effective Date, Section 5 of the Employment Agreement is
amended to reduce Executive’s annualized salary by forty percent (40%) to an
annualized salary of $480,000.00 per annum, payable in accordance with the
Company’s standard payroll practices and subject to ordinary course
withholdings.

 

 
2.
Except as provided herein, the terms and conditions of the Employment Agreement
remain intact and the Company and Employee hereby ratify such terms and
conditions.

 
IN WITNESS WHEREOF, the parties agree to the terms and conditions of this
Amendment, both as to form and substance, and the parties have executed this
Amendment as of the day and year first written above:

 
COMPANY:
        U.S. Physical Therapy, Inc.        
By:
/s/ Richard Binstein
   
Richard Binstein
Vice President and General Counsel

 
EXECUTIVE:
       
By:
/s/ Christopher Reading
   
Christopher Reading

 

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