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Exhibit 10.22    
  

 
 

COMMUNITY HEALTH SYSTEMS, INC.
  SUPPLEMENTAL BENEFITS PLAN    
  

 
  AMENDMENT TO BENEFIT EXCHANGE AGREEMENT    
  

        This Amendment to the Benefit Exchange Agreement (the "Amendment") is entered into effective January 1, 2003, by and between CHS/Community Health
Systems, Inc. ("CHS") and                          ("Employee"). 

W I T N E S S E T H  

        WHEREAS, Employee is a Participant in the Community Health Systems, Inc. Supplemental Benefits Plan (the "Supplemental Benefits Plan"); and 

        WHEREAS,
Employee has previously entered into a Benefit Exchange Agreement, a copy of which is attached hereto; and 

        WHEREAS,
pursuant to the Benefit Exchange Agreement, Employee exchanged Employee's vested interest in the cash value of the Manulife Policy (the "Policy") that was subject to a Split
Dollar Agreement (the "Split Dollar Agreement") between Employee and CHS and entered into pursuant to the provisions of the Supplemental Survivor Accumulation Plan portion of the Supplemental Benefits
Plan, for an increased benefit under the Community Health Systems, Inc. Deferred Compensation Plan (the "Deferred Compensation Plan"); and 

        WHEREAS,
pursuant to the Benefit Exchange Agreement, CHS agreed to make certain additional contributions to the Deferred Compensation Plan on behalf of Employee, beginning in 2003,
including annual amounts equal to the premium payments to the Policy required under the Split Dollar Agreement, less certain adjustments; and 

        WHEREAS,
Community Health Systems, Inc. has now established the Community Health Systems, Inc. Supplemental Executive Retirement Plan (the "SERP Plan") and has designated
Employee as a Participant in the SERP Plan; and 

        WHEREAS,
CHS and Employee agree that the benefits to be provided to Employee under the SERP Plan are to be in lieu of the additional contributions to the Deferred Compensation Plan that
CHS agreed to make on behalf of Employee, beginning in 2003, in the Benefit Exchange Agreement; and 

        WHEREAS,
CHS and Employee wish to amend the Benefits Exchange Agreement to relieve CHS from the obligation to make any such additional contributions to the Deferred Compensation Plan, as
hereinafter set forth. 

        NOW,
THEREFORE, Employee and CHS enter into this Amendment to the Benefit Exchange Agreement and agree as follows: 

        1.    Section 2
of the Benefit Exchange Agreement is hereby deleted and replaced in its entirety by the following: 

	2.
	CHS
will make the following contributions to the Deferred Compensation Plan on behalf of the Employee:

	(a)
	all
unpaid 2001 and 2002 premium payments specified in the Split Dollar Agreement, with such contribution to be made within thirty (30) days of this Agreement; and 

1

 

	(b)
	an
amount equal to the 100% of the net cash surrender value of the Policy on the date the Policy is surrendered by CHS (i.e., the total cash proceeds received by CHS from the
surrender of the Policy, without any reduction for any unvested interest of the Employee in such cash value), which shall be effected within thirty (30) days after Employee transfers all right,
title and interest in the Policy to CHS, with such contribution to be made by June 30, 2002. 

Any
contributions that are not made by the deadlines specified in this Section 2 shall be increased at a rate of five percent (5.00%) per annum, simple interest, from the date each such
contribution is due and the date such contribution is actually made to the Deferred Compensation Plan. 

        2.    Except
as amended herein, the Benefit Exchange Agreement shall continue on in full force and effect. 

        IN WITNESS WHEREOF, the parties hereto have executed and delivered this Amendment to the Benefit Exchange Agreement as of the date first
written above. 

	 	 	CHS/COMMUNITY HEALTH SYSTEMS, INC.
	

 	
 	

    By:	

 
	 	 	 	

	

 	
 	

    Its:	

 
	 	 	 	

	

 	
 	
EMPLOYEE
	

 	
 	

2

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Exhibit 10.22

COMMUNITY HEALTH SYSTEMS, INC. SUPPLEMENTAL BENEFITS PLAN

AMENDMENT TO BENEFIT EXCHANGE AGREEMENTExhibit 4.1  

	[An intertwining line design appears on the left border of the stock certificate, with the certificate number appearing at the top of the border and the Company's logo at the bottom of the border]	 	[An intertwining line design appears on the right border of the stock certificate, with the number of shares appearing at the top of the border and the Company's seal appearing at the bottom of the
border]

  

  

TRANSFERABLE
ON THE BOOKS OF THE CORPORATION BY THE HOLDER HEREOF IN PERSON OR BY DULY AUTHORIZED ATTORNEY UPON SURRENDER OF THIS CERTIFICATE PROPERLY ENDORSED. THIS CERTIFICATE AND THE SHARES
REPRESENTED HEREBY ARE ISSUED UNDER AND SHALL BE SUBJECT TO ALL OF THE PROVISIONS OF THE CERTIFICATE OF INCORPORATION OF THE CORPORATION AND ANY AMENDMENTS THERETO, COPIES OF WHICH ARE ON FILE WITH
THE CORPORATION AND THE TRANSFER AGENT, TO ALL OF WHICH THE HOLDER, BY ACCEPTANCE HEREOF, ASSENTS. THIS CERTIFICATE IS NOT VALID UNLESS COUNTERSIGNED BY A TRANSFER AGENT AND REGISTERED BY A REGISTRAR. 

        WITNESS
THE SEAL OF THE CORPORATION AND THE SIGNATURES OF ITS DULY AUTHORIZED OFFICERS. 

	Dated:	 	 	 	 	COUNTERSIGNED AND REGISTERED:
	 	 	 	 	 	COMPUTERSHARE INVESTOR SERVICES, LLC

TRANSFER AGENT AND REGISTRAR
	        
 Chairman	 	        
 Secretary	 	By	        
 Authorized Signature

  

        Michaels
Stores, Inc. will furnish to the record holder of this certificate without charge on written request to such corporation at its principal place of business a full
statement of the powers, designations, preferences and relative, participating, optional or other special rights of each class of stock or series thereof which such corporation is authorized to issue
and the qualifications, limitations or restrictions of such preferences and/or rights. 

        The
following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or
regulations: 

	TEN COM	 	— as tenants in common	 	UNIF GIFT MIN ACT—	 	        
	 	Custodian	 	        

	TEN ENT	 	— as tenants by the entireties	 	 	 	(Cust)	 	 	 	(Minor)
	 	 	 	 	 	 	Under Uniform Gifts to Minors Act
	JT TEN	 	— as joint tenants with right of survivorship and not as tenants in common	 	 	 	        
 (State)

Additional abbreviations may also be used though not in the above list.  

        For value received,                          hereby sell,
assign and transfer unto 

	PLEASE INSERT SOCIAL SECURITY OR OTHER

IDENTIFYING NUMBER OF ASSIGNEE
	

	

	

	

 Please print or typewrite name and address including postal zip code of assignee.

                                        
                
Shares of the Common Stock represented by the within Certificate, and do hereby irrevocably constitute and appoint
                                    
     

Attorney to transfer the said stock on the books of the within-named Corporation with full power of substitution in the premises.  

	Dated,	 	        
	 	 	 	 
	 	 	 	 	X	 	        
 (SIGNATURE)
	NOTICE:	 	 	 	 
	THE SIGNATURE(S) TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME(S) AS WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY PARTICULAR WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATEVER.	 	 	 	 
	 	 	 	 	X	 	        
 (SIGNATURE)
	

 	
 	

 	
 	

 THE SIGNATURE(S) MUST BE GUARANTEED BY AN "ELIGIBLE GUARANTOR INSTITUTION" AS DEFINED IN RULE 17Ad-15 UNDER THE SECURITIES AND EXCHANGE ACT OF 1934, AS AMENDED.
	 	 	 	 	
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Exhibit 10.12.1  

 
 

Year 2002 Chief Executive Officer and Executive Vice Presidents
  Bonus Plan Overview    
  

	A.
	Purpose

The
Year 2002 Corporate Management Bonus Plan has been developed to provide financial incentives to those members of management that can make an important contribution to the success of Michaels
Stores & its subsidiaries. 

	1.
	Bonus Payout

Bonus
payout for the Chief Executive Officer [or Executive Vice President] can be up to ___% of base salary as of February 3, 2002 and will be based on the Company
profit performance for FY 2002 before income taxes. 

	B.
	Bonus Plan Eligibility

	1.
	The
profit performance period parallels Fiscal Year 2002. It begins on February 3, 2002 and concludes on February 1, 2003.

	2.
	If
an associate was not employed in a bonus eligible position during the entire fiscal year, he/she will be eligible to receive a prorated bonus based upon the number of full months
that he/she was in a bonus eligible position. An individual who assumes a bonus eligible position on or before the 15thof the month will receive credit for the entire month. An
individual who assumes a position after the 15th of the month will not receive credit for that month. Anyone hired after November 15th, 2002 will not be eligible to
participate in the Year 2002 Corporate Management Bonus Plan.

	3.
	Bonus
payout will be a percentage of your actual base salary as of February 3, 2002.

	4.
	An
associate must be employed by the Company in a bonus eligible position at the time of payout in order to be eligible for or receive a bonus payment.

	5.
	Associates
in bonus eligible positions may sometimes change positions or be promoted within a fiscal year. If a change results in a different bonus percentage payout level, bonus
earnings for each position will be calculated separately at year end. The number of full months (see #2, above) in each position, the respective base salaries and the applicable target bonus amount(s)
for each bonus eligible position will be calculated and then added together to provide the final bonus payment.

	6.
	Bonus
payments are typically made in April of the following fiscal year.

	7.
	An
associate will not be eligible to receive a bonus payment for FY 2002 if: 1) he/she receives an overall performance rating of "Unsatisfactory" for FY 2002 and/or 2) at
the time of bonus payout he/she is on a Performance Improvement Plan ("PIP") that was initiated during FY 2002. Associates who are on a Performance Improvement Plan that was initiated in FY 2003 will
be eligible for a bonus payment for FY 2002.

	8.
	The
Company anticipates that this bonus plan will be part of an ongoing bonus program, but the Company does not guarantee that the program will in fact continue for future periods or
that the terms of the program will not change. 

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Year 2002 Chief Executive Officer and Executive Vice Presidents Bonus Plan Overview

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