Document:

Amendment to Employment Agreement

 
Exhibit 10.1

 
AMENDMENT TO EMPLOYMENT AGREEMENT

 
This Amendment to Employment Agreement
(“Amendment”), is entered into as of February 25, 2003, by and between Amedisys, Inc., a Delaware corporation (the “Company”), and William F. Borne (“BORNE”). 
 
WHEREAS, Company and BORNE are parties to that certain
Employment Agreement dated January 1, 1999 (the “Agreement”), whereby the Company and BORNE agreed, among other things, on the terms and condition of BORNE’s employment and severance with the Company. 
 
WHEREAS, the Company and BORNE desire to amend the Agreement
as specifically set forth herein. 
 
NOW,
THEREFORE, the parties mutually agree as follows: 
 
1.    Recitations. The above recitations are incorporated herein by this reference. 
 
2.    Modifications to the Agreement. The following provisions shall be amended and/or inserted into the
Agreement: 
 

	 	a.	 	Section 2.2 of the Agreement shall be and is hereby amended to delete the sentence, “Except as may otherwise be provided or prohibited in accordance with
appropriate law, the Company shall use its best efforts to amend its Article of Incorporation and Bylaws to provide that directors may only be removed for cause by a vote of a majority of the shares of voting stock of the Company then outstanding,
if necessary.” 

 

	 	b.	 	Section 2.4 of the Agreement shall be and is hereby amended to delete the sentences, “In addition, the Company will lend BORNE the sum of $100,000 to be used
solely for the purchase of a residence, which loan shall accrue interest at the prime rate as published in the Wall Street Journal and shall be payable in sixty equal installments of principal, plus accrued interest. Such loan amount available as
set forth herein shall be increased as of January 1 of each year during the term hereof by the same percentage increase as Base Salary in accordance with Section 4.2 herein.” 

 

	 	c.	 	Section 4.2 of the Agreement shall be and is hereby amended as follows: The third sentence of Section 4.2 of the Agreement shall read, “The Company’s Board
of Directors shall have the discretion to grant Yearly Cash Increases of Base Salary in excess of the amount provided herein, and shall have the discretion, in any given year, to delay the effective date and implementation of any January 1 Yearly
Cash Increase, but in no event shall the period of delay for implementation of the Yearly Cash Increase be greater than three months.” 

 

	 	d.	 	Section 4.10(d) of the Agreement shall be and is hereby deleted in its entirety and replaced with the following: “Participation in Employee Benefit
Plans. BORNE shall be entitled to participate, subject to eligibility and other terms generally established by the Company’s Board of Directors, in any employee benefit plan (including but not limited to life insurance plans, long-and
short-term disability, stock option plans, group hospitalization, 

health, dental care plans, (which health insurance plans shall also cover BORNE’s
dependents) profit sharing and pension, and other benefit plans), as may be adopted or amended by the Company from time to time.” 
 

	 	e.	 	Section 4.11 of the Agreement shall be and is hereby deleted in its entirety and shall be replaced with the following: “Educational Payments. During the
term of this Agreement and during any Deferred Compensation Period thereafter, the Company shall advance BORNE the costs (including tuition, books, fees and related expenses) to be incurred or incurred by BORNE associated with or related to the
enrollment in and attendance of any program toward the achievement of an advanced educational degree at the university of Borne’s choice.” 

 

	 	f.	 	Section 8.1 of the Agreement shall be and is hereby deleted in its entirety. 

 

	 	g.	 	Section 8.2 of the Agreement shall be and is hereby deleted in its entirety. 

 

	 	h.	 	Section 8.3 of the Agreement shall be and is hereby amended to read, “He will not directly or indirectly, as principal, agent, owner, partner, stockholder,
officer, director, employee, independent contractor or consultant of any Competing Business or in any individual or representative capacity solicit, directly or indirectly cause others to solicit the employment of any officer, sales person, agent,
or other employee of the Company who has a base compensation rate of $60,000 or more (adjusted annually by the greater of (i) six percent (6%) or (ii) the cost of living as determined in accordance with Section 4.2 herein), for the purpose of
causing said officer, sales person, agent or other employee to terminate employment with the Company and be employed by such Competing Business.” 

 

	 	i	 	Section 4.13 shall be and is hereby added to the Agreement, and shall read as follows: 

 

	 	“4.13	 	Whole Life Assignee. The Company and or BORNE, shall, at the direction of BORNE, instruct New York Life Insurance Company to designate a person of
BORNE’s choosing as assignee of the cash value of Policy Number 43900679. BORNE, shall be entitled to exercise his right to the cash redemption value of said policy upon the termination of this Agreement or upon his election, either at the sole
discretion of BORNE.” 

 
3.    Effect of this Amendment. Except as specifically stated herein, the execution and delivery of this Amendment shall in no way affect the respective obligations of the parties under the
Agreement, all of which shall continue in full force and effect. 
 
4.    Successors and Assigns. This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. 
 
IN WITNESS WHEREOF, the parties hereto have cause this
Amendment to be executed, effective as of the date and year first written above. 

 

	 Amedisys, Inc.

	
	 By:
	 	 /s/    MICHAEL D.
LUTGRING

	 	 	
 Michael D. Lutgring, Secretary

	
	 	 	 
	 	 	 /s/    WILLIAM F. BORNE

 William F. BorneAmended Credit Agreement Dated 12/31/2002

Exhibit 10.1 
 
AMENDMENT 
 
AMENDMENT, dated as of December 31, 2002 (this “Amendment”), to the Credit Agreement, dated as of March 26, 2002 (as
amended, supplemented or modified from time to time, the “Credit Agreement”), among ROTECH HEALTHCARE INC., a Delaware corporation (the “Borrower”), the Lenders parties thereto, UBS WARBURG LLC and GOLDMAN SACHS
CREDIT PARTNERS L.P., as joint lead arrangers and joint bookrunners (the “Arrangers”), GOLDMAN SACHS CREDIT PARTNERS L.P., as Syndication Agent, THE BANK OF NOVA SCOTIA, DEUTSCHE BANC ALEX. BROWN INC. and GENERAL ELECTRIC CAPITAL
CORPORATION, as Co-Documentation Agents, GENERAL ELECTRIC CAPITAL CORPORATION, as Collateral Agent, and UBS AG, STAMFORD BRANCH, as Administrative Agent. 
 
W  I  T  N  E  S  S  E  T
 H: 
 
WHEREAS, the Borrower has
requested that certain provisions of the Credit Agreement be amended upon the terms and subject to the conditions set forth herein; and 
 
WHEREAS, the Lenders have agreed to such amendments upon the terms and subject to the conditions set forth herein; 
 
NOW, THEREFORE, in consideration of the premises and mutual
covenants contained herein and in the Credit Agreement, the parties hereto hereby agree as follows: 
 
1.    Defined Terms.    Unless otherwise defined herein, terms used herein and defined in
the Credit Agreement are used herein as therein defined. 
 
2.    Amendment to Section 1.1 (Defined Terms).    The definition of “Consolidated EBITDA” in Section 1.1 is hereby amended by: 
 
(a)    (i) deleting the words “and
(e)” and substituting in lieu therefore the words “, (e)” and (ii) inserting immediately after the words “for any fiscal year of the Borrower” the following “and (f) any expenses or losses recorded on or prior to
December 31, 2002 arising from transactions approved by Plan of Reorganization (excluding expenses related to the Credit Agreement), provided that, the aggregate amount of such expenses or losses paid in cash during (x) the Borrower’s
2002 fiscal year shall not exceed $10,560,000 and (y) the Borrower’s 2003 fiscal year shall not exceed $4,000,000”; and 
 
(b)    following the word “minus”, deleting the words “(a)” and “and (b) any cash
payments made during such period in respect of items described in clause (e) above subsequent to the fiscal quarter in which the relevant non-cash expenses or losses were reflected as a charge in the statement of Consolidated Net Income, all as
determined on a consolidated basis, to the extent that such cash payments are made with respect to non-cash expenses and losses excluded pursuant to the proviso in clause (e) above”. 
 
3.    Conditions to Effectiveness.    This Amendment shall
become effective on the date the Administrative Agent shall have received: (a) an executed counterpart of this Amendment duly executed and delivered by the Borrower, the Agents and each of the Required 
 

2 
 
Lenders and (b) an Acknowledgement and Consent in the form attached hereto as Exhibit A duly executed and delivered by each Guarantor. 
 
4.    Representations and
Warranties.    As of the date hereof and after giving effect to the amendments contained herein, the Borrower hereby confirms, reaffirms and restates the representations and warranties made by it in Section 4 of the Credit
Agreement, except to the extent any of such representations and warranties relate to a specific earlier date, in which case such representations and warranties shall be deemed true and correct on and as of such earlier date; provided, that
each reference therein to the Credit Agreement shall be deemed to be a reference to the Credit Agreement after giving effect to this Amendment. 
 
5.    Payment of Expenses.    The Borrower agrees to pay or reimburse the Administrative
Agent for all of its out-of-pocket costs and expenses incurred in connection with this Amendment, any other documents prepared in connection herewith and the transactions contemplated hereby, including, without limitation, the reasonable fees and
disbursements of counsel to the Administrative Agent. 
 
6.    Continuing Effect.    Except as expressly provided hereby, all of the terms and provisions of the Credit Agreement and the other Loan Documents are and shall remain in full force
and effect. The amendments, waivers and acknowledgement contained herein shall not be construed to as an amendment or waiver of any other provision of the Credit Agreement or the other Loan Documents or for any purpose except as expressly set forth
herein or a consent to any further or future action on the part of the Borrower that would require the waiver or consent of the Administrative Agent or the Lenders. 
 
7.    Counterparts.    This Amendment may be executed by one
or more of the parties hereto in any number of separate counterparts and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Any executed counterpart delivered by facsimile transmission shall be
effective as for all purposes hereof. 
 
8.    GOVERNING LAW.    THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HERETO SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF
THE STATE OF NEW YORK. 
 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and
delivered by the respective proper and duly authorized officers as of the day and year first above written. 
 

	 ROTECH HEALTHCARE INC.

	
	 	 	 
	 By:
	 	 /S/    JANET L.
ZIOMEK

	 	 	 Name:  Janet L. Ziomek

	 	 	 Title:    CFO

 
 

	 GOLDMAN SACHS CREDIT PARTNERS L.P.,
as Syndication Agent

	
	 	 	 
	 By:
	 	 /S/    STEPHEN B.
KING

	 	 	 Name:  Stephen B. King

	 	 	 Title:    Authorized Signatory

 
 

	 UBS AG, STAMFORD BRANCH, as
Administrative Agent and a Lender

	
	 	 	 
	 By:
	 	 /S/    ROBERT
REUTER

	 	 	 Name:  Robert Reuter

	 	 	 Title:    Executive Director

 

	 
	
	 	 	 
	 By:
	 	 /S/    RENATA
JACOBSON

	 	 	 Name:  Renata Jacobson

	 	 	 Title:    Director

	 	 	              Loan Portfolio

	 	 	              Risk Management

 

	 GENERAL ELECTRIC CAPITAL
CORPORATION, as Co-Documentation Agent, Collateral Agent and a
Lender

	
	 	 	 
	 By:
	 	 /S/    KATHERINE R.
LOFFT

	 	 	 Name:  Katherine R. Lofft

	 	 	 Title:    Duly Authorized Signatory

 

	 THE BANK OF NOVA SCOTIA 

	 as Co-Documentation Agent and a Lender

	
	 By:
	 	 /s/    CAROLYN A.
CALLOWAY

	 	 	 Name:
 Title:
	 	 Carolyn A. Calloway
 Managing Director

 
 
 
 
[ROTECH HEALTHCARE INC. AMENDMENT DATED AS OF DECEMBER 31, 2002] 

 

	 CREDIT LYONNAIS NEW YORK BRANCH 

	
	 By:
	 	 /s/    CHARLES
HEIDSIECK

	 	 	 Name:
 Title:
	 	 Charles Heidsieck
 Senior Vice President

 
 
 
 
[ROTECH HEALTHCARE INC. AMENDMENT DATED AS OF DECEMBER 31, 2002] 

 

	 DEUTSCHE BANK TRUST COMPANY
 AMERICAS

	
	 By:
	 	 /s/    SCOTTYE
LINDSEY

	 	 	 Name:
 Title:
	 	 Scottye Lindsey
 Vice President

 
 
 
 
[ROTECH HEALTHCARE INC. AMENDMENT DATED AS OF DECEMBER 31, 2002] 

 
 

	 FLAGSHIP CLO 2000-1

	 By:
	 	 Flagship Capital Mgt, Inc

	 	 	 [LENDER]

	
	 	 	 By:
	 	 /S/    COLLEEN
CUNNIFFE

	 	 	 	 	 Name:
 Title:
	 	 Colleen Cunniffe
 Director

 
 
 
[ROTECH HEALTHCARE INC. AMENDMENT DATED AS OF DECEMBER 31,
2002] 

 

	 CONTINENTAL CASUALTY COMPANY

	 [LENDER]

	
	 By:
	 	 /s/    MARILOU R.
MCGIRR

	 	 	 Name:
 Title:
	 	 Marilou R. McGirr
 Vice President

 
 
 
 
[ROTECH HEALTHCARE INC. AMENDMENT DATED AS OF DECEMBER 31, 2002] 

 

	 CITIGROUP INVESTMENTS

	 CORPORATE LOAN FUND INC.

	 
	 By Travelers Asset Management
 International Company, LLC

	
	 By:
	 	 /s/    MATTHEW J.
MCINERNY

	 	 	 Name:
 Title:
	 	 Matthew J. McInerny
 Investment Officer

 
 
 
 
[ROTECH HEALTHCARE INC. AMENDMENT DATED AS OF DECEMBER 31, 2002] 

 

	 COLUMBUS LOAN FUNDING LTD.

	
	 By Travelers Asset Management International Company, LLC

	
	 By:
	 	 /s/    MATTHEW J.
MCINERNY

	 	 	 Name:
 Title:
	 	 Matthew J. McInerny
 Investment Officer

 
 
 
 
[ROTECH HEALTHCARE INC. AMENDMENT DATED AS OF DECEMBER 31, 2002] 

 

	 THE TRAVELERS INSURANCE COMPANY 

	
	 By:
	 	 /S/    MATTHEW J.
MCINERNY

	 	 	 Name:
 Title:
	 	 Matthew J. McInerny
 Investment Officer

 
 
 
 
[ROTECH HEALTHCARE INC. AMENDMENT DATED AS OF DECEMBER 31, 2002] 

 

	 CITICORP INSURANCE AND
INVESTMENT TRUST

	
	 By Travelers Asset Management International Company, LLC

	
	 By:
	 	 /s/    MATTHEW J.
MCINERNY

	 	 	 Name:
 Title:
	 	 Matthew J. McInerny
Investment Officer

 
 
 
 
[ROTECH HEALTHCARE INC. AMENDMENT DATED AS OF DECEMBER 31, 2002] 

 

	 PPM SHADOW CREEK FUNDING LLC

	
	 By:
	 	 /s/    DIANA L.
MUSHILL

	 	 	 Name:
 Title:
	 	 Diana L. Mushill
Asst. Vice President

 
 
 
 
[ROTECH HEALTHCARE INC. AMENDMENT DATED AS OF DECEMBER 31, 2002] 

 

	 PPM SPYGLASS FUNDING TRUST

	
	 By:
	 	 /s/    DIANA L.
MUSHILL

	 	 	 Name:
 Title:
	 	 Diana L. Mushill
Authorized Agent

 
 
 
 
[ROTECH HEALTHCARE INC. AMENDMENT DATED AS OF DECEMBER 31, 2002] 

 

	 CERES II FINANCE LTD.

	 By:
	 	 INVESCO Senior Secured Management, Inc. 

	 	 	 As Sub-Managing Agent (Financial) 

	
	 	 	 By:
	 	 /S/    THOMAS H. B.
EWALD

	 	 	 	 	 Name:    Thomas H. B. Ewald
 Title:      Authorized Signatory

 
 
 
 
[ROTECH HEALTHCARE INC. AMENDMENT DATED AS OF DECEMBER 31, 2002] 

 

	 CHARTER VIEW PORTFOLIO

	 By:
	 	 INVESCO Senior Secured Management, Inc. Investment Advisor

	 	 	 
	
	 	 	 By:
	 	 /s/    THOMAS H. B.
EWALD

	 	 	 	 	 Name:
 Title:
	 	 Thomas H. B. Ewald
 Authorized Signatory

 
 
 
 
[ROTECH HEALTHCARE INC. AMENDMENT DATED AS OF DECEMBER 31, 2002] 

 

	 AIM FLOATING RATE FUND

	 By:
	 	 INVESCO Senior Secured Management, Inc.
 As Attorney in fact

	 	 	 
	
	 	 	 By:
	 	 /s/    THOMAS H. B.
EWALD

	 	 	 	 	 Name:
 Title:
	 	 Thomas H. B. Ewald
 Authorized Signatory

 
 
 
[ROTECH HEALTHCARE INC. AMENDMENT DATED AS OF DECEMBER 31,
2002] 

 

	 SEQUILS-LIBERTY, LTD.

	 By:
	 	 INVESCO Senior Secured Management, Inc.
 As Collateral Manager

	 	 	 
	
	 	 	 By:
	 	 /s/    THOMAS H. B.
EWALD

	 	 	 	 	 Name:
 Title:
	 	 Thomas H. B. Ewald
 Authorized Signatory

 
 
 
 
[ROTECH HEALTHCARE INC. AMENDMENT DATED AS OF DECEMBER 31, 2002] 

 

	 SARATOGA CLO I, LIMITED

	 By:
	 	 INVESCO Senior Secured Management, Inc.
 As Asset Manager

	 	 	 
	
	 	 	 By:
	 	 /s/    THOMAS H. B.
EWALD

	 	 	 	 	 Name:
 Title:
	 	 Thomas H. B. Ewald
 Authorized Signatory

 
 
 
 
[ROTECH HEALTHCARE INC. AMENDMENT DATED AS OF DECEMBER 31, 2002] 

 

	 FOOTHILL INCOME TRUST II, L.P.

	 By:
	 	 FIT II GP, LLC, Its General Partner

	 	 	                     [LENDER]

	
	 	 	 By:
	 	 /s/    M.E. STEARNS

	 	 	 	 	 Name:
 Title:
	 	 M.E. Stearns
 Managing Member

 
 
 
 
[ROTECH HEALTHCARE INC. AMENDMENT DATED AS OF DECEMBER 31, 2002]

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