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                                                                   EXHIBIT 10.14



                              EMPLOYMENT AGREEMENT

     THIS AGREEMENT, is made and entered into this 1st day of July, 1997, by and
between Fresenius Medical Care - North America ("FMC") or the ("EMPLOYER"), with
principal offices located at 95 Hayden Avenue, Lexington, MA 02173 and Jerry A.
Schneider ("EMPLOYEE") currently residing at 3434 Habersham Road, Atlanta, GA
30305.

WITNESSETH:

WHEREAS, FMC desires to employ EMPLOYEE as Chief Financial Officer of Fresenius
Medical Care - North America ("FMC"), and

WHEREAS, the parties hereto desire to express the terms and conditions of such
employment.

NOW THEREFORE, it is understood and agreed to between the parties as follows:

1.   EMPLOYMENT. FMC hereby employs EMPLOYEE as its Chief Financial Officer, and
     EMPLOYEE hereby accepts the employment upon the terms and conditions of
     this Agreement.

2.   TERM. The term of this Agreement shall commence as of the date EMPLOYEE
     begins employment at FMC's Lexington, Massachusetts headquarters but no
     later than August 18, 1997 and shall continue until the second anniversary
     of said date, unless earlier terminated prior thereto in accordance with
     the provisions hereinafter stated.

3.   DUTIES AND RESPONSIBILITIES.

     (a) EMPLOYEE shall serve full-time as FMC's Chief Financial Officer and
     will be responsible for all financial functions, including debt management
     and bank relationships, all corporate information services and investor
     relations. EMPLOYEE shall report directly to the Chief Executive Officer of
     FMC and shall also report to the Chief Financial Officer of Fresenius AG on
     debt management and investor relations issues. EMPLOYEE shall to the best
     of his ability and experience competently, loyally, diligently and
     conscientiously perform all of the duties and obligations expressly or
     implicitly required under this Agreement. EMPLOYEE further agrees that he
     will not in conducting business in the interest of the EMPLOYER engage in,
     or knowingly permit others under his control to carry on, or induce others
     to engage in any practice or commit acts in violation of any federal, state
     or local law or ordinance.

     b) EMPLOYEE will be permitted to provide required services to his former
     employer, Grancare, until December 31, 1998 provided said services do not
     materially interfere with his duties and responsibilities as set forth in
     Section 3(a) above.

4.   COMPENSATION AND BENEFITS.

     a) BASE SALARY. EMPLOYER shall pay EMPLOYEE for all services rendered a
     base salary of $325,000 per year, (the "Base Salary"), payable in
     accordance with FMC's payroll procedures, subject to customary withholding
     and employment taxes.

     b) INCENTIVE COMPENSATION. During EMPLOYEE'S employment with FMC, EMPLOYEE
     shall be entitled to participate in FMC's Management Bonus Plan ("MBP") and
     such other incentive compensation plans as are now available or may become
     available to other similarly positioned officers of FMC. For executives,
     the target level bonus is forty percent (40%) and the maximum bonus is one
     hundred percent (100%) of base salary, pro-rated for the date employment
     commences. Funding for the plan is based upon attainment of specific
     financial objectives.



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     For 1997, EMPLOYEE will have special payment options for incentive
     compensation and may elect, within thirty (30) days of the commencement of
     employment either,

          i)   To receive a guaranteed payment of $100,000 when executive
               payments are made in 1998, or

          ii)  To fully participate in the MBP, without pro-ration, for 1997 and
               receive payment in 1998 based upon actual funding of the MBP.

     Written notice of this election must be sent to Human Resources within
     thirty (30) days of commencement of employment.

     c) SIGNING BONUS. Provided he begins employment no later than August 18,
     1997, within thirty (30) days of the commencement of EMPLOYEE'S employment
     he will receive a signing bonus of $75,000 net of applicable taxes and
     withholdings,

     d) STOCK PLAN. EMPLOYEE shall be entitled to participate in the Fresenius
     Medical Care AG 1996 Stock Incentive Plan (the "Stock Plan"), subject to
     IRS approval of the Stock Plan. EMPLOYEE shall be recommended to receive
     options to purchase 125,000 American Depository shares representing
     Preference Shares constituting a three-year grant under that non-qualified
     stock plan for employees of Fresenius' United States subsidiaries.

     e) BENEFIT PROGRAMS. EMPLOYEE shall be eligible to participate in the
     Fresenius USA group employee benefits program as now established or which
     subsequently becomes available.

5.   Relocation. EMPLOYEE will relocate from Atlanta to the Lexington area
     promptly upon commencement of employment. Relocation will be covered under
     existing FMC policy and will include all costs of sale of his existing
     residence and purchase of a new residence, all costs for packing, moving
     and unpacking of household goods, househunting trips for EMPLOYEE and his
     wife, travel to and from Atlanta during any transition period, and other
     miscellaneous relocation costs. In addition, FMC will guarantee to
     reimburse EMPLOYEE for any difference between the sale price of his Atlanta
     residence and his purchase price of that property plus any documented
     capital improvements. Temporary housing will be provided if needed for up
     to six months.

6.   TERMINATION OF EMPLOYMENT.

     a) TERMINATION BY FMC. Notwithstanding the provisions set forth in
     paragraph 2 above, this Agreement may be terminated by FMC for cause
     immediately upon notice to EMPLOYEE. FMC shall have cause for termination
     in the event of:

          1)   A default by EMPLOYEE in the performance of any material
               provision of this Agreement, and such default continues for a
               period of thirty (30) days after written notice to EMPLOYEE from
               EMPLOYER stating the specific default, unless such default is
               cured to the satisfaction of EMPLOYER within such 30-day period,
               or if such failure cannot be cured within 30 days, EMPLOYEE has
               commenced a good faith effort to cure in which case EMPLOYER,
               within its sole discretion, may extend such period, in which case
               the notice of termination shall not be effective, and this
               Agreement shall not be terminated. No severance benefits are due
               to EMPLOYEE in the event he is terminated for cause.

          2)   EMPLOYEE'S death.

          3)   The final, unappealable conviction of EMPLOYEE of any felony.

          4)   The disability of EMPLOYEE during his employment under this
               Agreement through any illness, injury, accident or condition of
               either a physical or psychological nature and, as a result in the
               opinion of a physician mutually agreeable to the parties is
               expected to be unable to perform substantially all of his duties
               and responsibilities hereunder for one hundred eighty 



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               (180) consecutive calendar days during the year following the
               physician's examination of EMPLOYEE.

     b) TERMINATION BY EMPLOYEE. This Agreement may be terminated by the
     EMPLOYEE in the event of a breach by FMC of any of its obligations under
     this Agreement, provided EMPLOYEE gives FMC written notice specifying the
     manner in which he believes FMC has breached this Agreement, and FMC has 30
     days from receipt of such notice to cure such breach, or in the case of
     other than a non-payment of money breach, if such breach cannot be cured
     within 30 days, to commence a good faith effort to cure.

     c) PAYMENT UPON TERMINATION. In the event this Agreement expires or is
     terminated for any reason, EMPLOYEE shall be entitled to receive all
     accrued but unpaid annual base salary and bonus compensation earned by
     EMPLOYEE to the date of termination (all such bonus amounts shall be deemed
     earned on a pro rata basis for the portion of the year EMPLOYEE is employed
     by FMC prior to termination). In addition, if FMC terminates this Agreement
     for any reason other than a reason set forth in Section 6(a) or if the
     Agreement expires or if EMPLOYEE terminates this Agreement pursuant to
     Section 6(b), EMPLOYEE shall also receive (i) Salary and benefits
     continuation for a period of two (2) years following termination of
     employment. Employee may elect to receive Salary Continuation as a lump sum
     payment but will forego benefits.

9.   NON-DISCLOSURE OF CONFIDENTIAL INFORMATION. Employee acknowledges that
     during the term of employment with EMPLOYER, he will have access to and
     become acquainted with Confidential Information of the EMPLOYER.
     Confidential Information means all information related to the present or
     planned business of FMC that has not been released publicly by authorized
     representatives of FMC, and shall include but not be limited to, trade
     secrets and know-how, inventions, marketing and sales programs, employee,
     customer, patient and supplier information, information from patient
     medical records, financial data, pricing information, regulatory approval
     and reimbursement strategies, data, operations and clinical manuals.

     EMPLOYEE agrees not to use or disclose, directly or indirectly, any
     Confidential Information of FMC at any time and in any manner, except as
     required in the course of his employment with FMC or with the express
     written authority of FMC.

     EMPLOYEE understands that his non-disclosure obligations will continue for
     10 years following the termination of his employment.

     All documents and equipment relating to the business of FMC, whether
     prepared by EMPLOYEE or otherwise coming into EMPLOYEE'S possession, are
     the exclusive property of FMC, and must not be removed from the premises of
     FMC except as required in the course of employment. Any such documents and
     equipment must be returned to FMC when EMPLOYEE leaves the employment of
     FMC.

10.  ENTIRE AGREEMENT AND AMENDMENTS. This Agreement shall constitute the entire
     agreement between the parties and supersedes all existing agreements
     between them, whether oral or written, with respect to the subject matter
     hereof. Any waiver, alteration, or modification of any of the provisions of
     this Agreement, or cancellation or replacement of this Agreement shall be
     accomplished in writing and signed by the respective parties.

11.  NOTICES. All notices hereunder shall be in writing and shall be deemed to
     be given when sent by certified mail to either party at the address of such
     party set forth above or at such other address as shall have been
     designated by written notice by such party to the other party.

13.  GOVERNING LAW. This Agreement shall be construed in accordance with, and
     the rights of the parties shall be governed by, the laws of the
     Commonwealth of Massachusetts.



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     IN WITNESS WHEREOF, the parties have caused this Agreement to be executed
     by the undersigned duly authorized persons as of the day and year first
     stated above.


FRESENIUS MEDICAL CARE - NORTH AMERICA



By       /s/ Ben Lipps                              /s/ Jerry A. Schneider
         -------------                              ----------------------
         BEN J. LIPPS                               JERRY A. SCHNEIDER

Its:     Chief Executive Officer
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