Document:

Exhibit 10(a)

 

AMENDMENT NO. 2 TO CREDIT AGREEMENT

 

AMENDMENT
dated as of February 28, 2003 to the Five-Year Credit Agreement dated as of
March 1, 2001 (the “Credit Agreement”)
among TENET HEALTHCARE CORPORATION (the “Borrower”),
the LENDERS, MANAGING AGENTS and CO-AGENTS party thereto, the SWINGLINE BANK
party thereto, THE BANK OF NEW YORK, THE BANK OF NOVA SCOTIA and SALOMON SMITH
BARNEY INC., as Documentation Agents, BANK OF AMERICA, N.A., as Syndication
Agent, and JPMORGAN CHASE BANK, F/K/A MORGAN GUARANTY TRUST COMPANY OF NEW
YORK, as Administrative Agent (the “Administrative
Agent”).

 

W I T N E S S E T H :

 

WHEREAS, the
parties hereto desire to amend the Credit Agreement to (i) change the
conditions to borrowings and issuances or extensions of letters of credit as
they relate to material adverse changes in the business of the Borrower and its
Subsidiaries; (ii) reduce the maximum allowable Leverage Ratio of the Borrower
and its Subsidiaries; and (iii) replace the Pricing Schedule attached to the
Credit Agreement;

 

NOW,
THEREFORE, the parties hereto agree as follows:

 

Section 1.  Defined Terms; References.  Unless otherwise specifically
defined herein, each term used herein which is defined in the Credit Agreement
has the meaning assigned to such term in the Credit Agreement.  Each reference to “hereof”, “hereunder”,
“herein” an “hereby” and each other similar reference and each reference to
“this Agreement” and each other similar reference contained in the Credit Agreement
shall, after this Amendment becomes effective, refer to the Credit Agreement as
amended hereby.

 

Section 2.  Amendment
Of The Credit Agreement.  (a)  Section 3.03
of the Credit Agreement is amended by inserting a new clause 3.03(f) to read as
follows:  “(f) the Required Lenders have
not provided notice to the Administrative Agent that, in their good faith
determination, there has been a material adverse change since November 30, 2000
in the business, operations, properties, financial condition or prospects of
the Borrower and its Subsidiaries, considered as a whole”.

 

(b)           Section 4.04 is amended by
deleting clause (c) in its entirety.

 

(c)           Section 5.09 of the Credit
Agreement is amended by replacing the number “3.50” with “2.50”.

 

 

(d)           The Pricing Schedule attached to the
Credit Agreement is amended by replacing it with the Pricing Schedule attached
hereto.  The retention in the Pricing
Schedule of Pricing Levels based on a Leverage Ratio in excess of 2.50 is
without prejudice to the rights of the Lending Parties in respect of the Event of
Default which would exist in those circumstances under the Credit Agreement as
amended hereby.

 

Section 3.  Representations Of Borrower.  The Borrower represents and
warrants that (i) the representations and warranties of the Borrower set
forth in Article 4 of the Credit Agreement will be true on and as of the
Amendment Effective Date and (ii) no Default will have occurred and be
continuing on such date.

 

Section 4.  Governing Law.  This Amendment shall be governed by and construed in
accordance with the laws of the State of New York.

 

Section 5.  Counterparts.  This Amendment may be signed in any number of
counterparts, each of which shall be an original, with the same effect as if
the signatures thereto and hereto were upon the same instrument.

 

Section 6.  Effectiveness.  This Amendment shall become effective on the date (the
“Amendment Effective Date”) when the Administrative Agent shall have received
from each of the Borrower and Lenders comprising the Required Lenders a
counterpart hereof signed by such party or facsimile or other written
confirmation (in form satisfactory to the Administrative Agent) that such party
has signed a counterpart hereof.

 

2

 

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

 

	
   

  	
  TENET
  HEALTHCARE CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Stephen
  D. Farber

  	
   

  
	
   

  	
   

  	
  Title: Chief
  Financial Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  JPMORGAN
  CHASE BANK

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Jim Ely
  III

  	
   

  
	
   

  	
   

  	
  Title:
  Managing Director

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  BANK OF
  AMERICA, N.A.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kevin
  Wagley

  	
   

  
	
   

  	
   

  	
  Title:
  Principal

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  THE BANK OF
  NOVA SCOTIA

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Jon A.
  Burckin

  	
   

  
	
   

  	
   

  	
  Title:
  Managing Director

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  SUNTRUST
  BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ W. Brooks
  Hubbard

  	
   

  
	
   

  	
   

  	
  Title:
  Director

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  FLEET
  NATIONAL BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Maryann
  S. Smith

  	
   

  
	
   

  	
   

  	
  Title:
  Director

  

 

 

	
   

  	
  THE BANK OF
  NEW YORK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Rebecca
  K. Levine

  	
   

  
	
   

  	
   

  	
  Title: Vice
  President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CITICORP
  USA, INC.

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CREDIT
  SUISSE FIRST BOSTON

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Christopher Lally

  	
   

  
	
   

  	
   

  	
  Title: Vice
  President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Jennifer
  A. Pieza

  	
   

  
	
   

  	
   

  	
  Title:
  Associate

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  SUMITOMO
  MITSUI BANKING CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Al
  Galluzzo

  	
   

  
	
   

  	
   

  	
  Title:
  Senior Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  UBS AG,
  STAMFORD BRANCH

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Wilfred
  V. Saint

  	
   

  
	
   

  	
   

  	
  Title:
  Associate Director

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Anthony
  N. Joseph

  	
   

  
	
   

  	
   

  	
  Title:
  Associate Director

  
					

 

 

	
   

  	
  UFJ BANK
  LIMITED

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Steve
  Yamada

  	
   

  
	
   

  	
   

  	
  Title: Vice
  President

  
	
   

  	
   

  
	
   

  	
  MERRILL
  LYNCH CAPITAL CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  MIZUHO
  CORPORATE BANK, LIMITED

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  CREDIT
  LYONNAIS NEW YORK BRANCH

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Charles
  Heideieck

  	
   

  
	
   

  	
   

  	
  Title:
  Senior Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  PNC BANK,
  NATIONAL ASSOCIATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Timothy
  J. Hornickle

  	
   

  
	
   

  	
   

  	
  Title: Vice
  President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  WACHOVIA
  BANK, NATIONAL ASSOCIATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  
					

 

 

	
   

  	
  KBC BANK
  N.V.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  U.S. BANK
  NATIONAL ASSOCIATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Christian Stein III

  	
   

  
	
   

  	
   

  	
  Title: Vice
  President

  
	
   

  	
   

  
	
   

  	
  BNP PARIBAS

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Brock
  Harris

  	
   

  
	
   

  	
   

  	
  Title:
  Director

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  HUA NAN
  COMMERCIAL BANK, LTD.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  NATIONAL
  CITY BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Roderic
  M. Brown

  	
   

  
	
   

  	
   

  	
  Title:
  Senior Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  SOUTHTRUST
  BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  

 

 

	
   

  	
  PB CAPITAL
  CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Chritopher J. Ruzzi

  	
   

  
	
   

  	
   

  	
  Title: Vice
  President

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Andrew
  L. Shipman

  	
   

  
	
   

  	
   

  	
  Title:
  Assistant Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  ALLIED IRISH
  BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Anthony
  O’Reilly

  	
   

  
	
   

  	
   

  	
  Title: Vice
  President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Hilary
  Patterson

  	
   

  
	
   

  	
   

  	
  Title: Vice
  President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CHINATRUST
  COMMERCIAL BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  COMERICA
  BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Colleen
  M. Murphy

  	
   

  
	
   

  	
   

  	
  Title: Vice
  President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  COMMERCEBANK,
  N.A.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ George
  H. Bermudez

  	
   

  
	
   

  	
   

  	
  Title: Vice
  President

  

 

 

	
   

  	
  TORONTO
  DOMINION (TEXAS), INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Mark A.
  Baird

  	
   

  
	
   

  	
   

  	
  Title: Vice
  President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  BANK LEUMI
  USA

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Joung
  Hee Hong

  	
   

  
	
   

  	
   

  	
  Title: Vice
  President

  
	
   

  	
   

  
	
   

  	
  HIBERNIA
  NATIONAL BANK

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Laura
  Watts

  	
   

  
	
   

  	
   

  	
  Title: Vice
  President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  MORGAN
  STANLEY BANK

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  BANK OF
  IRELAND

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  MALAYAN
  BANKING BERHAD

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Wan
  Fadzmi Othman

  	
   

  
	
   

  	
   

  	
  Title:
  General Manager

  
	
   

  	
   

  
	
   

  	
  VAN KAMPEN
  PRIME RATE INCOME TRUST

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  
					

 

 

PRICING SCHEDULE

 

The “Facility Fee Rate” and “Euro-Dollar Margin” for any day are
the respective rates per annum set forth below in the applicable row under the
column corresponding to the Pricing Level and Utilization that apply on such
day:

 

	
  Pricing Level

  	
   

  	
  Level I

  	
   

  	
  Level II

  	
   

  	
  Level III

  	
   

  	
  Level

  IV

  	
   

  	
  Level V

  	
   

  	
  Level VI

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Facility
  Fee Rate:

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Utilization > 40%

  	
   

  	
  0.500
  

  	
  %

  	
  0.500
  

  	
  %

  	
  0.500
  

  	
  %

  	
  0.500
  

  	
  %

  	
  0.500

  	
  %

  	
  0.500

  	
  %

  
	
  Utilization < 40%

  	
   

  	
  0.500

  	
  %

  	
  0.500

  	
  %

  	
  0.500

  	
  %

  	
  0.500

  	
  %

  	
  0.500

  	
  %

  	
  0.575

  	
  %

  
	
  Euro-Dollar Margin:

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Utilization > 40%

  	
   

  	
  1.000

  	
  %

  	
  1.000

  	
  %

  	
  1.000

  	
  %

  	
  1.175
  

  	
  %

  	
  1.350
  

  	
  %

  	
  2.000
  

  	
  %

  
	
  Utilization < 40%

  	
   

  	
  1.000

  	
  %

  	
  1.000

  	
  %

  	
  1.000

  	
  %

  	
  1.125

  	
  %

  	
  1.275

  	
  %

  	
  1.925

  	
  %

  

 

For purposes
of this Pricing Schedule, the following terms have the following meanings:

 

“Level I Pricing” applies during any Rate
Period if, at the end of the Preceding Fiscal Quarter, the Leverage Ratio was
less than 1.75 to 1.

 

“Level II Pricing” applies during any Rate
Period if no higher Pricing Level applies and, at the end of the Preceding
Fiscal Quarter, the Leverage Ratio was equal to or greater than 1.75 to 1.

 

“Level III Pricing” applies during any Rate
Period if no higher Pricing Level applies and, at the end of the Preceding
Fiscal Quarter, the Leverage Ratio was equal to or greater than 2.00 to 1.

 

“Level IV Pricing” applies during any Rate
Period if no higher Pricing Level applies and, at the end of the Preceding
Fiscal Quarter, the Leverage Ratio was equal to or greater than 2.50 to 1.

 

“Level V Pricing” applies during any Rate
Period if no higher Pricing Level applies and, at the end of the Preceding
Fiscal Quarter, the Leverage Ratio was equal to or greater than 3.00 to 1.

 

“Level VI Pricing” applies during any Rate
Period if, at the end of the Preceding Fiscal Quarter, the Leverage Ratio was
equal to or greater than 3.25 to 1.

 

 “Preceding
Fiscal Quarter” means, with respect to any Rate Period, the most
recent Fiscal Quarter ended before such Rate Period begins.

 

 

 “Pricing
Level” refers to the determination of which of Level I Pricing,
Level II Pricing, Level III Pricing, Level IV Pricing, Level V Pricing or Level
VI Pricing applies on any day. Pricing Levels are referred to in ascending
order (e.g., Level II Pricing is a higher Pricing Level than Level I Pricing).

 

“Rate Period” means any period from and
including the 46th day of a Fiscal Quarter to and including the 45th day of the
immediately succeeding Fiscal Quarter.

 

“Utilization” means, at any date, the percentage
equivalent of a fraction (i) the numerator of which is the sum of the aggregate
outstanding principal amount of Loans and Swingline Loans and the Aggregate LC
Exposure, each at such date, and (ii) the denominator of which is the aggregate
amount of the Commitments at such date. 
If for any reason any Credit Exposure remains following termination of
the Commitments, Utilization shall be deemed to be in excess of 40%.Exhibit 10.b

 

TENET HEALTHCARE CORPORATION

2001
STOCK INCENTIVE PLAN

RESTRICTED
STOCK AGREEMENT

 

Capitalized terms not defined herein have the meaning given
such terms in the

Company’s 2001 Stock Incentive Plan.

 

                This Restricted
Stock Agreement (the “Agreement”) is dated as of January 21, 2003 (the “Grant
Date”), and is entered into between Tenet Healthcare Corporation, a Nevada
corporation (the “Company”), and Trevor Fetter (the “Executive”), who is
serving as President of the Company.

 

                WHEREAS, the Compensation Committee of the
Board of Directors of the Company (the “Committee”) is authorized to make
grants of Restricted Stock under the Company’s 2001 Stock Incentive Plan, as
amended (the “Plan”);

 

                WHEREAS, on January 8, 2003, the Committee
agreed to grant, pursuant to the Plan, two shares of Restricted Stock to the
Executive for each share of the Company’s Common Stock purchased by the
Executive in the open market, up to a maximum of 200,000 shares of Restricted
Stock; and

 

                WHEREAS, the Executive has provided
satisfactory evidence of his purchase, on January 21, 2003, of 100,000 shares
of the Company’s Common Stock (the “Purchased Shares”);

 

                NOW, THEREFORE, in consideration of the
foregoing recitals and the mutual promises set forth below, the parties hereto
agree as follows:

 

                1.             Grant.  Subject to the terms and conditions of this
Agreement and the Plan that is hereby incorporated herein by reference, the
Committee hereby grants to the Executive 200,000 shares of Restricted Stock, in
consideration for services to be performed by the Executive to the Company.

 

                2.             Vesting.  Subject to (a) the Executive’s retention of
all of the Purchased Shares until all of the Restricted Stock has vested (b)
the Executive remaining continuously in the employ of the Company on the
vesting dates, the Restricted Stock will vest as follows: (i) one-third of the
Restricted Stock will vest two years after the Grant Date; (ii) an additional
one-third of the Restricted Stock will vest three years after the Grant Date;
and (iii) the remaining one-third of the Restricted Stock will vest four years
after the Grant Date.  The table below
sets forth the vesting dates for the Restricted Stock:

                                

	
  Number of Shares

  of Common Stock

  	
   

  	
  Vesting
  Date

  	
   

  
	
  66,667

  	
   

  	
  January 21, 2005

  	
   

  
	
  66,667

  	
   

  	
  January 21, 2006

  	
   

  
	
  66,666

  	
   

  	
  January 21, 2007

  	
   

  

 

 

1

 

                3.             Stock Certificates.  Certificates for the Restricted Stock,
registered in the Executive’s name, shall be issued and delivered to the
Secretary of the Company and held by him in custody and shall not be delivered
to the Executive until such Restricted Stock has vested in accordance with
Section 2 above.

 

                4.             Effect of Termination of
Employment.  Notwithstanding the provisions of Section 16(b) of the
Plan, and subject to the Executive’s retention of all of the Purchased Shares,
if the Executive’s employment with the Company is terminated by the Executive
or by the Company without cause (as the term “cause” is defined in the
Company’s Severance Protection Plan), other than following a change of control
of the Company (as the term “change of control” is defined in the Company’s
Severance Protection Plan), before all of the Restricted Stock has vested, then
the vesting of the Restricted Stock due to vest on the next vesting date will
be accelerated and the remainder of the unvested Restricted Stock, if any,
would be forfeited.  In the event the
Executive is terminated without cause (as the term “cause” is defined in the
Company’s Severance Protection Plan) following a change of control of the
Company (as the term “change of control” is defined in the Company’s Severance
Protection Plan), and the Executive has retained all of the Purchased Shares,
then all unvested Restricted Stock will immediately vest upon the Executive’s
termination.

 

                5.             Tax Withholding Obligations.  The Executive shall be required to deposit
with the company an amount of cash equal to the amount determined by the
Company to be required with respect to any withholding taxes, FICA
contributions, or the like under any federal, state or local statute,
ordinance, rule or regulation in connection with the grant or vesting of the
Restricted Stock.  Alternatively, the
Company may, at its sole discretion, withhold the required amounts from the
Executive’s pay during the pay periods next following the date on which any
such applicable tax liability otherwise arises.  The Committee, in its discretion, may permit the Executive,
subject to such conditions as the Committee shall require, to elect to have the
Company withhold a number of shares of the Company’s Common Stock otherwise
deliverable having a Fair Market Value sufficient to satisfy the statutory
minimum of all or part of the Executive’s estimated total federal, state and
local tax obligations associated with the grant or vesting of the Restricted
Stock.  The Company shall not deliver
any of the shares of the Company’s Common Stock until and unless the Executive
has made the deposit required herein or proper provision for required
withholding has been made.

 

                6.             Rights as Shareholder.  The Executive shall have all rights of a
shareholder prior to the vesting of the Restricted Stock, including the right
to vote the shares and receive all dividends and other distributions paid or
made with respect thereto.

 

                7.             Transferability.  The Restricted Stock may not be transferred,
assigned or made subject to any encumbrance, pledge or charge until such
Restricted Stock has vested and any other restrictions or conditions on such
Restricted Stock are removed, have been satisfied or expire.

 

8.             Effect
on Other Employee Benefit Plans. 
The value of the Restricted Stock granted pursuant to this Agreement
shall not be included as compensation, 

 

 

2

 

earnings, salaries, or other similar terms used when calculating the
Executive’s benefits under any employee benefit plan sponsored by the Company
except as such plan otherwise expressly provides.

 

                9.             No Employment Rights.  Nothing in this Agreement will confer upon
the Executive any right to continue in the employ or service of the Company or
any of its subsidiaries or affect the right of the Company to terminate the
employment of the  Executive at any time
with or without cause.

 

                10.           Amendment.  This Agreement may be amended only by a
writing executed by the Company and the Executive that specifically states that
it is amending this Agreement. 
Notwithstanding the foregoing, this Agreement may be amended solely by
the Committee by a writing which specifically states that it is amending this
Agreement, so long as a copy of such amendment is delivered to the Executive,
and provided that no such amendment adversely affecting the rights of the
Executive hereunder may be made without the Executive’s written consent.  Without limiting the foregoing, the
Committee reserves the right to change, by written notice to the Executive, the
provisions of the Restricted Stock or this Agreement in any way it may deem
necessary or advisable to carry out the purpose of the grant as a result of any
change in applicable laws or regulations or any future law, regulation, ruling
or judicial decisions, provided that any such change shall be applicable only
to shares of  Restricted Stock which are
than subject to restrictions as provided herein.

 

                11.           Severability.  If all or any part of this Agreement is
declared by any court or government authority to be unlawful or invalid, such
unlawfulness or invalidity shall not invalidate any portion of this Agreement
not declared to be unlawful or invalid. 
Any Section of this Agreement so declared to be unlawful or invalid
shall, if possible, be construed in a manner that will give effect to the terms
of such Section to the fullest extent possible while remaining lawful and
valid.

 

                12.           Construction.  The Restricted Stock is being issued
pursuant to Section 8 of the Plan and is subject to the terms of the Plan.  A copy of the Plan has been given to the
Executive and additional copies of the Plan are available upon request during
normal business hours at the principal executive officers of the Company.  To the extent that any provisions of this
Agreement violates or is inconsistent with an express provisions of the Plan,
the Plan provision shall govern and any inconsistent provision in this
Agreement shall be of no force or effect.

 

                13.           Binding Effect and Benefit.  This Agreement shall be binding upon and,
subject to the conditions hereof, inure to the benefit of the Company, its
successors and assigns, and the Executive and his successors and assigns.

 

                14.           Entire Understanding.  This Agreement embodies the entire
understanding and agreement of the parties in relation to the subject matter
hereof, and no promise, condition, representation or warranty, expressed or
implied, not herein stated, shall bind either party hereto.

 

 

3

 

                15.           Governing Law.  This Agreement shall be governed by, and
construed in accordance with, the laws of the State of California.

 

IN WITNESS WHEREOF, the parties have executed and
delivered this Agreement effective as of the Grant Date.

 

 

	
  EXECUTIVE

  	
   

  	
  TENET HEALTHCARE CORPORATION

  
	
   

  	
   

  	
   

  
	
  /s/ TREVOR FETTER

  	
   

  	
  /s/ ALAN R. EWALT

  
	
  Trevor Fetter

  	
   

  	
  Alan R. Ewalt

  
	
  President

  	
   

  	
  Executive Vice President

  

 

 

4

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