Document:

Exhibit1037

March 3, 2014

Mr. William Burns 
14648 Beaufort Cir.
Naples, Florida 34119

Dear Mr. Burns:
Cross Country Healthcare, Inc., a Delaware corporation (the “Company”), hereby agrees to employ you, and you hereby agree to accept such employment, under the following terms and conditions:
1.Employment.
Your employment will commence on April 1, 2014 (the “Effective Date”).  The period of time between the Effective Date and the termination of your employment hereunder will be referred to herein as the “Employment Term.”
2.    Compensation.
(a)    You will be compensated for all services rendered by you under this Agreement at the rate of $400,000 per annum, payable in such manner as is consistent with the Company’s payroll practices for executive employees.  Prior to each anniversary of the Effective Date, the Company’s Board of Directors (the “Board”), or Compensation Committee of the Board (the “Compensation Committee”), will review and consider in its sole discretion whether to increase the base salary payable to you hereunder.  Your annual rate of base salary as determined herein from time to time, is hereinafter referred to as the “Base Salary”.
(b)    (i)    For each calendar year during the Employment Term, you will be eligible to receive a target annual bonus in an amount of 70% of your Base Salary for the applicable year based on the level of achievement performance goals to be established by the Compensation Committee for such year.  The level of the performance goals achieved and the amount of the bonus will be determined by the Compensation Committee in its sole discretion.  Any bonuses will be paid by the Company no later than March 15 of the year immediately following the applicable bonus period.  You must be employed by the Company or its affiliates on the day any bonus is paid to earn any part of that bonus.  Your bonus for 2014, if any, will be pro-rated, determined by multiplying the amount of such bonus which would be due for the 2014 year by a fraction, the numerator of which is 275 and the denominator of which is 365.
(ii)    For each calendar year during the Employment Term (including 2014), you will also be eligible to receive a long term incentive grant targeted at value of 75% of Base Salary, in accordance with the Company’s long term incentive plan applicable to executives of the Company.  Subject to the approval of the Compensation Committee and your actual commencement of employment, you will also receive the following long term incentive award pursuant to the Company’s 2007 Stock Incentive Plan and subject to the provisions of the Company’s standard equity award agreements:
(i)    A grant of 20,000 Restricted Shares on April 1, 2014 which will vest as set forth in the Restricted Stock Agreement to be entered into between you and the Company.  

 

3.    Duties.
(a)    You will initially serve as the Chief Financial Officer of the Company, subject to the direction and control of, and reporting to, the Company’s Chief Executive Officer.  Your principal office will be located at the Company’s principal office in Boca Raton, Florida.
(b)    You will devote your full business time, energies and attention to the business and affairs of the Company and its subsidiaries, if any.
(c)    You will, except as otherwise provided herein, be subject to the Company’s rules, practices and policies applicable to the Company’s senior executive employees.
4.    Benefits.  You will be entitled to such benefits, if any, as are generally provided by the Company to its employees, subject to satisfying the applicable eligibility requirements.  The foregoing, however, will not be construed to require the Company to establish any such plans or to prevent the Company from modifying or terminating any such plans, and no such action or failure thereof will affect this Agreement.  
5.    Expenses.  The Company will reimburse you for reasonable expenses, including travel expenses, incurred by you in connection with the business of the Company upon the presentation by you of appropriate substantiation for such expenses in accordance with the Company’s expense reimbursement policy.  The Company will pay on your behalf or reimburse you for the relocation expenses set forth on Exhibit A attached hereto.   If you are terminated for Cause or you elect to voluntarily terminate your employment with the Company without Good Reason during the 24 month period immediately following the Effective Date, you agree to promptly repay the Company for any funds paid to you or on your behalf for the relocation up to and including $100,000.  Such repayment shall be pro rata based on 24 months (e.g. separation after one year would result in a repayment of $50,000, assuming the full $100,000 was paid to you).
6.    Restrictive Covenants.
(a)    Non-Competition.  During such time as you will be employed by the Company, and for a period of two years thereafter, you will not, without the written consent of the Board, directly or indirectly become associated with, render services to, invest in, represent, advise or otherwise participate as an officer, employee, director, stockholder, partner, agent of or consultant for, any business which is conducted in any of the jurisdictions in which the Company’s business is conducted and which is competitive with the business in which the Company is engaged; provided, however, that nothing herein will prevent you from acquiring up to 3% of the securities of any company listed on a national securities exchange or quoted on the NASDAQ quotation system, provided your involvement with any such company is solely that of a stockholder.  
(b)    Non-Interference.  You agree that during such time as you will be employed by the Company, and for a period of two years thereafter you will not without the written consent of the Board, for your own account or for the account of any other person, interfere with the Company’s relationship with any of its suppliers, customers or employees.
(c)    Reformation.  The parties hereto intend that the covenants contained in this Section 6 will be deemed a series of separate covenants for each country, state, county and city in which the Company’s business is conducted.  If, in any judicial proceeding, a court will refuse to enforce all the separate covenants deemed included in this Section 6 because, taken together, they cover too extensive a geographic area, the parties intend that those of such covenants (taken in order of the countries, states, counties and cities therein which are least populous) which if eliminated would permit the remaining separate covenants to be enforced to the maximum extent permitted in such proceeding will, for the purpose of such proceeding, be deemed eliminated from the provisions of this Section 6.  For purposes of Section 6, the term “Company” will include the Company and each subsidiary of the Company.
7.    Confidentiality, Non-Interference and Proprietary Information.
(a)    Confidentiality.  In the course of your employment by the Company hereunder, you will have access to confidential or proprietary data or information of the Company and its operations.  You 

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will not at any time divulge or communicate to any person nor will you direct any Company employee to divulge or communicate to any person (other than to a person bound by confidentiality obligations similar to those contained herein and other than as necessary in performing your duties hereunder) or use to the detriment of the Company or for the benefit of any other person, any of such data or information.  The provisions of this Section 7(a) will survive your employment hereunder, whether by the normal expiration thereof or otherwise.  The term “confidential or proprietary data or information” as used in this Agreement will mean information not generally available to the public or generally known within the relevant industry, including, without limitation, personnel information, financial information, customer lists, supplier lists, trade secrets, information regarding operations, systems, services, knowhow, computer and any other processed or collated data, computer programs, pricing, marketing and advertising data.
(b)    Proprietary Information and Disclosure.  You agree that you will at all times promptly disclose to the Company (which, for the purposes of this Section 7, will include the Company and any subsidiaries and affiliates of the Company), in such form and manner as the Company may reasonably require, any inventions, improvements or procedural or methodological innovations, programs methods, forms, systems, services, designs, marketing ideas, products or processes (whether or not capable of being trade-marked, copyrighted or patented) conceived or developed or created by you during or in connection with your employment hereunder and which relate to the business of the Company and any subsidiaries or affiliates (“Intellectual Property”).  You agree that all such Intellectual Property will be the sole property of the Company.  You further agree that you will execute such instruments and perform such acts as may reasonably be requested by the Company to transfer to and perfect in the Company all legally protectable rights in such Intellectual Property.
(c)    Return of Property.  All written materials, records and documents made by you or coming into your possession during your employment concerning any products, processes or equipment, manufactured, used, developed, investigated or considered by the Company or otherwise concerning the business or affairs of the Company, will be the sole property of the Company, and upon termination of your employment, or upon request of the Company during your employment, you will promptly deliver same to the Company.  In addition, upon termination of your employment, or upon request of the Company during your employment, you will deliver to the Company all other Company property in your possession or under your control, including, but not limited to, financial statements, marketing and sales data, patent applications, drawings and other documents.
8.    Equitable Relief.  With respect to the covenants contained in Sections 6 and 7 of this Agreement, you agree that any remedy at law for any breach of said covenants may be inadequate and that the Company will be entitled to specific performance or any other mode of injunctive and/or other equitable relief to enforce its rights hereunder or any other relief a court might award.
9.    Earlier Termination.  Your employment hereunder will terminate on the following terms and conditions:
(a)    This Agreement will terminate automatically on the date of your death.
(b)    The Company may terminate your employment upon notice if you are unable to perform your duties hereunder for 120 days (whether or not continuous) during any period of 180 consecutive days by reason of physical or mental disability.  The disability will be deemed to have occurred on the 120th day of your absence or lack of adequate performance.
(c)    This Agreement will terminate immediately upon the Company’s sending you written notice terminating your employment hereunder for Cause.  “Cause” means (i) an act or acts of fraud or dishonesty by you which results in the personal enrichment of you or another person or entity at the expense of the Company; (ii) your admission, confession, pleading of guilty or nolo contendere to, or conviction of (x) any felony (other than third degree vehicular infractions), or (y) of any other crime or offense involving misuse or misappropriation of money or other property; (iii) your continued material breach of any obligations under this Agreement 30 days after the Company has given you notice thereof in reasonable detail, if such 

3

breach has not been cured by you during such period; or (iv) your gross negligence or willful misconduct with respect to your duties or gross misfeasance of office.
(d)    This Agreement will terminate immediately upon (x) the Company’s sending you written notice terminating your employment hereunder without Cause for any reason or for no reason, or (y) your delivery to the Company of a written notice of your resignation for Good Reason.  “Good Reason” means, if without your written consent, any of the following events occurs that are not cured by the Company within 30 days of written notice specifying the occurrence such Good Reason event, which notice will be given by you to the Company within 90 days after the occurrence of the Good Reason event: (i) a material diminution in your then authority, duties or responsibilities; (ii) a material diminution in your Base Salary; (iii) a relocation of your principal business location to a location more than 50 miles outside of Boca Raton, Florida; or (iv) any material breach of this Agreement by the Company.  Your resignation hereunder for Good Reason will not occur later than 180 days following the initial date on which the event you claim constitutes Good Reason occurred.  Upon a termination of your employment by the Company without Cause, or your resignation for Good Reason, the Company’s sole obligation to you will be to pay or provide to you the Accrued Amounts (as defined below) and, subject to Section 9(f), to pay you continued payments of the Base Salary and benefits in accordance with the Company’s regular payroll practices for a period of 12 months following the date of termination (the “Severance Payment”); provided, that the first payment of the Severance Payment will be made on the 90th day after the date of termination, and will include payments that were otherwise due prior thereto.  Notwithstanding the foregoing, if you are or become eligible for severance benefits under the Company’s Executive Severance Plan (as in effect on the Effective Date, as thereafter amended, or any similar plan or arrangement adopted by the Company in replacement thereof, the “Severance Plan”) you will cease to be eligible for the Severance Payments and the Company sole obligation will be to pay you the amounts and provide you with the benefits provided in the Severance Plan subject to the terms and conditions thereof§.
(e)    Except as specifically set forth in Section 9(d) above, upon termination of your employment for any reason, the Company’s obligations hereunder will cease other than to provide you with (collectively, the “Accrued Amounts”):
(i)    any unpaid Base Salary through the date of termination payable in accordance with the Company’s regular payroll practices;
(ii)    reimbursement for any unreimbursed business expenses incurred through the date of termination paid promptly in accordance with Sections 5 and 17(b)(iv);
(iii)    payment for any accrued but unused vacation and sick time in accordance with Company policy, payable within thirty (30) days following the termination of the your employment; and
(iv)    all other applicable payments or benefits to which the you may be entitled under, and paid or provided in accordance with, the terms of any applicable compensation arrangement or benefit, equity or fringe benefit plan or program or grant or this Agreement.
(f)    The Severance Payment will only be payable to you if within 60 days following the date of termination you execute and deliver to the Company a fully effective and irrevocable release of claims against the Company and related parties, which the Company will provide to you within 7 days following the date of termination.  
10.    Representation and Warranty.  The execution, delivery and performance of this Agreement by you will not conflict with or result in a violation of any agreement to which you are a party or any law, regulation or court order applicable to you. 
11.    Effectiveness; Entire Agreement; Modification.  This Agreement constitutes the full and complete understanding of the parties and will, on the Effective Date, supersede all prior agreements between the parties with respect to your employment arrangements.  No representations, inducements, promises, agreements or understandings, oral or otherwise, have been made by either party to this Agreement, or anyone 

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acting on behalf of either party, which are not set forth herein, or any others are specifically waived.  This Agreement may not be modified or amended except by an instrument in writing signed by the party against which enforcement thereof may be sought.
12.    Severability.  Any term or provision of this Agreement which is invalid or unenforceable in any jurisdiction will, as to such jurisdiction, be ineffective to the extent of such invalidity or unenforceability without rendering invalid or unenforceable the remaining terms and provisions of this Agreement or affecting the validity or enforceability of any of the terms or provisions of this Agreement in any other jurisdiction.
13.    Waiver of Breach.  The waiver of either party of a breach of any provision of this Agreement, which waiver must be in writing to be effective, will not operate as or be construed as a waiver of any subsequent breach.
14.    Notices.  All notices hereunder will be in writing and will be sent by express mail or by certified or registered mail, postage prepaid, return receipt requested, if to you, to your residence as listed in the Company’s records, and if to the Company to:  
Cross Country Healthcare, Inc. 
6551 Park of Commerce Boulevard, N.W. 
Boca Raton, FL 33487 
Attention: General Counsel 
15.    Assignability; Binding Effect.  This Agreement is personal to you and may not be assigned by you.  This Agreement will be binding upon and inure to the benefit of you, your legal representatives, heirs and distributees, and will be binding upon and inure to the benefit of the Company, its successors and assigns.
16.    Governing Law.  All questions pertaining to the validity, construction, execution and performance of this Agreement will be construed and governed in accordance with the laws of the State of Florida, without regard to the conflicts or choice of law provisions thereof.
17.    Tax Matters.  
(a)     WITHHOLDING.  The Company may withhold from any and all amounts payable under this Agreement such federal, state and local taxes as may be required to be withheld pursuant to any applicable law or regulation.
(b)     SECTIONS 409A. 
(i)Although the Company does not guarantee the tax treatment of any payments under this Agreement, the intent of the parties is that payments and benefits under this Agreement comply with, or be exempt from, Code Section 409A and, accordingly, to the maximum extent permitted, this Agreement will be interpreted in accordance with the foregoing.  In no event whatsoever will the Company be liable for any additional tax, interest or penalties that may be imposed on the Employee by Code Section 409A or any damages for failing to comply with Code Section 409A.
(ii)Notwithstanding any provision in this Agreement or elsewhere to the contrary, if on your date of termination you are deemed to be a “specified employee” within the meaning of Code Section 409A and using the identification methodology selected by the Company from time to time, or if none, the default methodology under Code Section 409A, any payments or benefits due upon a termination of your employment under any arrangement that constitutes a “deferral of compensation” within the meaning of Code Section 409A (whether under this Agreement, any other plan, program, payroll practice or any equity grant) and which do not otherwise qualify under the exemptions under Treas. Regs. Section 1.409A-1 (including without limitation, the short-term deferral exemption 

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and the permitted payments under Treas. Regs. Section 1.409A-1(b)(9)(iii)(A)), will be delayed and paid or provided to you in a lump sum (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay), on the earlier of (i) the date which is six months and one day after your separation from service (as such term is defined in Code Section 409A) for any reason other than death, and (ii) the date of your death, and any remaining payments and benefits will be paid or provided in accordance with the normal payment dates specified for such payment or benefit.
(iii)Notwithstanding anything in this Agreement or elsewhere to the contrary, a termination of employment will not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of any amounts or benefits that constitute “non-qualified deferred compensation” within the meaning of Code Section 409A upon or following a termination of your employment unless such termination is also a “separation from service” within the meaning of Code Section 409A and, for purposes of any such provision of this Agreement, references to a “termination,” “termination of employment” or like terms will mean “separation from service” and the date of such separation from service will be the date of termination for purposes of any such payment or benefits.
(iv)Any taxable reimbursement of costs and expenses by the Company provided for under this Agreement will be made in accordance with the Company’s applicable policy and this Agreement but in no event later than December 31 of the calendar year next following the calendar year in which the expenses to be reimbursed are incurred.  With regard to any provision in this Agreement that provides for reimbursement of expenses or in-kind benefits, except as permitted by Code Section 409A, (x) the right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit, and (y) the amount of expenses eligible for reimbursement, or in-kind benefits, provided during any taxable year will not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year, provided that the foregoing clause (y) will not be violated with regard to expenses reimbursed under any arrangement covered by Section 105(b) of the Code solely because such expenses are subject to a limit related to the period the arrangement is in effect.
(v)Whenever a payment under this Agreement may be paid within a specified period, the actual date of payment within the specified period will be within the sole discretion of the Company.
(vi)With regard to any installment payments provided for under this Agreement, each installment thereof will be deemed a separate payment for purposes of Code Section 409A.
18.    Headings.  The headings of this Agreement are intended solely for convenience of reference and will be given no effect in the construction or interpretation of this Agreement.
19.    Counterparts.  This Agreement may be executed in several counterparts, each of which will be deemed to be an original but all of which together will constitute one and the same instrument.
20.    Review of this Agreement.  You acknowledge that you have (a) carefully read this Agreement, (b) had an opportunity to consult with independent counsel with respect to this Agreement and (c) entered into this Agreement of your own free will.
If this letter correctly sets forth our understanding, please sign the duplicate original in the space provided below and return it to the Company, whereupon this will constitute the employment agreement between you and the Company effective and for the term as stated herein

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CROSS COUNTRY HEALTHCARE, INC.

By:  /s/ William J. Grubbs 
                    Name:  William J. Grubbs
        Title:  President and Chief Executive Officer

Agreed as of the date
first above written:

/s/  William Burns 
William Burns

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EXHIBIT A

The Company will reimburse you for reasonable and customary home relocation expenses preapproved by the CEO for up to and including an aggregate of $100,000 inclusive of services noted below (but excluding employment taxes and temporary housing):

		
	▪
	Two house hunting trips

		
	▪
	Closing costs of sale of current home

		
	▪
	Closing costs of new home purchase

		
	▪
	Household moving expenses 

The Company has a national transportation services agreement in place with Suddath Relocation Systems of Fort Lauderdale/United Van Lines.  Your point of contact will be Bruce Smith, 954-520-2106, bsmith@suddath.com.

In addition to the foregoing, the Company will reimburse you for temporary executive housing for 90 days, not to exceed $3,500 per month.  Temporary executive housing shall be arranged with a broker under current contract by the Company.  The Company will pay invoices directly for such temporary executive housing.

8Exhibit1038

TRANSITION AGREEMENT
This Transition Agreement (this “Agreement”) is being entered into this 3rd day of March, 2014, by and between Cross Country Healthcare, Inc. (the “Company”) and Emil Hensel (“Executive”).  Except as otherwise set forth herein, defined terms shall have the meaning set forth in the Agreement, dated June 24, 1999, between the Company and Employee (the “Original Agreement”).
RECITALS
WHEREAS, Executive has been and is employed by the Company in the capacity as Chief Financial Officer;
WHEREAS, Executive has also served as a member of the Company’s Board of Directors and as an officer and director of various direct and indirect subsidiaries and controlled affiliates of the Company (“Subsidiaries”);
WHEREAS, Executive desires to terminate his employment at the Company and its Subsidiaries;
WHEREAS, the parties desire to provide for the orderly separation of Executive and the effective transition of his duties and responsibilities to a newly appointed person;
NOW THEREFORE, in consideration of the premises and the covenants contained in this Agreement, the sufficiency of which is hereby acknowledged, Executive and the Company agree as follows:
	
			
	1.
	 
	RESIGNATION:

(a)  Resignation. Effective on and as of March 31, 2014 (the “Resignation Date ”), Executive hereby resigns (i) as Chief Financial Officer of the Company; and (ii) from all other positions Executive currently holds as an officer of any of the Subsidiaries.  In addition, effective on and as of March 7, 2014, Executive hereby resigns from his position as a director of the Company and the Subsidiaries.
(b)  Transition Period.  The period commencing on the Resignation Date and ending on June 3, 2014 shall be referred to herein as the “Transition Period.”  From April 1, 2014 through April 30, 2014 (the “Initial Period”), Executive shall continue to be employed by the Company on a full-time basis and shall diligently work at the Company’s headquarters to transition his prior duties and responsibilities to a newly appointed Chief Financial Officer (CFO).  From May 1, 2014 through June 3, 2014 (the “PRN Period”), Executive shall provide transition services as requested by the Company on an as needed basis to complete the transition of the CFO functions to a newly appointed CFO.  During the Transition Period, Executive shall remain employed by the Company as a Special Advisor to William J. Grubbs, President and CEO of the Company, however, Executive shall not be an officer of the Company. 
(c)  Compliance. During the Transition Period, Executive shall comply in full with (i) all applicable laws, orders and regulations, (ii) the Company’s Code of Ethics, Policies and Guidelines; and (iii) the employee manual in effect for the Company’s employees.
(d)  Payments.  In exchange for Executive’s covenants and agreements contained in this Agreement and the Release attached hereto as Exhibit “A,” the Company shall pay Executive an aggregate amount equal to twelve (12) months of Executive’s base salary ($357,706.00), less all lawful deductions (the “Consideration”).  The Consideration shall be paid as follows:
(i)  During the Transition Period, Executive shall continue to be paid his base salary in the normal course in accordance with the Company’s payroll policy, and shall continue to receive all benefits to which Executive is entitled in his current position (but not any accrued but unpaid bonus or other incentive compensation) with the Company; and Executive shall not be entitled to participate in any bonus or incentive compensation program which may be in effect at the Company;
(ii)  After the conclusion of the Transition Period and Provided Executive executes and does not revoke the Release attached hereto as Exhibit “A”, the Company shall pay to Executive in one (1) lump sum an amount equal to the Consideration, after all lawful deductions, less any amounts paid to Executive pursuant to subparagraph (d)(i) above during the PRN Period upon expiration of the revocation period described in the Release.  For clarity purposes, the amount paid to Executive during the Initial Period shall not be deducted from the Consideration.  
 (e)  Termination of Employment. Following the last day of the Transition Period, Executive shall no longer be employed by the Company.
(f)  Accrued Vacation Pay. At the end of the Transition Period, Executive shall be compensated for all accrued but unused vacation and personal time in accordance with the Company’s policy.
(g)  Legal Fees.  The Company agrees to reimburse Executive up to $1,000.00 for legal fees to review this Agreement, subject to reasonable written documentation from a law firm evidencing such fees.
	
			
	2.
	 
	BENEFITS DUE TO RESIGNATION AND RETIREMENT:

(a)  Benefits.  At the end of the Transition Period, Employee may elect to continue medical and dental coverage under the Company’s then existing benefit plans in accordance with the continuation requirements of COBRA.  Employee shall pay for the cost of such elected coverage. 
(b)  Equity Grants. At various times during Executive’s employment by the Company, Executive was awarded restricted stock, options and SARs (the “Equity Grants ”) under the Company’s Equity Incentive Plan (the “Plan”).   The Company agrees that any portion of the Equity Grants previously scheduled to vest on or before June 2, 2014 shall vest.  Any remaining unvested portion of Equity Grants not vested on or before June 2, 2014 shall not be accelerated and shall terminate and be of no further force or effect.  Pursuant to the Plan, Equity Grants held by the Executive that have vested on or before June 2, 2014 may be exercised up to and including June 3, 2015 (one year following the end of the Transition Period).  
(c)  401(k) Plan. Executive and the Company acknowledge and agree that Executive is a participant in the Company’s 401(k) Savings Plan (the “401 (k) Plan”) and that Executive’s benefits under the 401(k) Plan shall be determined in accordance with the provisions thereof and any election related thereto. Executive’s participation in the 401(k) Plan shall end on his last day or employment.  401(k) deductions will not be deducted from, nor made by the Company with respect to, the consideration set forth in Section 1(d)(ii) above.

 (d)  No Further Benefits, Payments, Etc. Executive acknowledges and agrees that except as expressly provided herein, Executive’s coverage or participation under any voluntary deferral plan, benefit plan, program, policy or arrangement sponsored or maintained by the Company shall cease and be terminated as of the end of the Transition Period. Executive further acknowledges and agrees that no payment made by the Company pursuant to this Agreement is subject to any employer matching obligation or any other employer contribution under any benefit or deferred compensation plan, whether or not any such payment is characterized as wages or other compensation.
	
			
	3.
	 
	RELEASE.

This Agreement supercedes the Original Agreement which shall be deemed terminated in full and of no further force or effect.  
4. ON-GOING RESTRICTIONS ON EXECUTIVE’S ACTIVITIES.
(a)  Non-Compete.  During the term of your employment by the Company, and for a period of one year thereafter (June 3, 2015), Executive shall not, without the written consent of the Company’s Board of Directors, directly or indirectly become associated with, render services to, invest in, represent, advise or otherwise participate as an officer, employee, director, stockholder partner, agent of, or consultant for, any business which is conducted in any jurisdictions in which the Company’s business is conducted and which is competitive with the business in which the Company is engaged at the time your employment with the Company ceases; provided, however, that: (a) nothing herein shall prevent Executive from acquiring up to 3% of the securities of any company listed on a national exchange or quoted on the NASDAQ quotation system, provided his involvement with any such company is solely that of a stockholder.  The parties hereto intend that the covenant contained in this Section 4 shall be deemed a series of separate covenants for each country, state, county and city in which the Company’s business is conducted.  If, in any judicial proceeding, a court shall refuse to enforce all the separate covenants deemed included in this Section 4 because, taken together , they cover too extensive a geographic area, the parties intend that those of such covenants (taken in order of the countries, states, counties and cities therein which are least populous) which if eliminated would permit the remaining separate covenants to be enforced in such proceeding shall, for the purpose of such proceeding, be deemed eliminated from the provisions of this Section 4. 
(b)  Confidentiality.  In the course of Executive’s employment by the Company, Executive has had access to confidential or proprietary data or information of the Company.  Executive will not divulge or communicate to any person nor shall Executive direct any Company employee to divulge or communicate to any person (other than to a person bound by confidentiality obligations similar to those contained herein and other than as necessary in performing his duties during his employment) or use to the detriment of the Company or for the benefit of any other person, any of such data or information.   The term “confidential or proprietary data or information” as used in this Agreement shall mean information not generally available to the public or generally known within the staffing industry, including, but not limited to, personnel information, financial information, customer lists, supplier lists, trade secrets, information regarding operations, systems services, knowhow, computer and any other processed or collated data, computer programs, pricing, marketing and advertising data.
(c)  Non-Interference.  Executive will not at any time during the Transition Period or thereafter, of his own account or for the account of any other person, tortuously interfere with the Company’s relationship with any of its suppliers, customer or employees.
(d)  Property.  Executive agrees that any inventions, improvements or procedural or methodological innovations, programs methods, forms, systems, services, designs, marketing ideas, products or processed (whether capable of being trademarked, copyrighted or patented) conceived or developed by Executive during his employment and which relate to the business of the Company and/or any of the Subsidiaries, are and shall remain the sole property of the Company.   Executive will, upon request, execute any such instruments and perform such acts as may reasonably be requested by the Company to transfer and perfect in the Company all legally protective rights in such property.  In addition, Executive shall promptly deliver any and all Company related property and materials in his possession (written, electronic or otherwise) to the Company no later than the last day of the Transition Period
(e)  Equitable Relief.  With respect to the covenants contained in this Section 4, Executive agrees that any remedy at law for any breach of such covenant(s) may be inadequate and that the Company shall be entitled to specific performance or any other mode of injunctive relief and/or equitable relief to enforce its rights hereunder or any other relief a court may award.  
	
			
	5.
	 
	GENERAL PROVISIONS

(a)  Consideration. The parties to this Agreement acknowledge the receipt and sufficiency of the Consideration for both the Transition Period and the Release attached hereto as  Exhibit “A” to this Agreement and intend this Agreement to be legally binding.
(b)  Amendments and Waivers. Any provision of this Agreement may be amended or waived but only if the amendment or waiver is in writing and signed, in the case of an amendment, by all of the parties, or, in the case of a waiver, by the party that would have benefited from the provision waived.
(c)    Severability. If any provision of this Agreement is found by any court of competent jurisdiction (or legally empowered agency) to be illegal, invalid or unenforceable for any reason, then (i) the provision will be amended automatically to the minimum extent necessary to cure the illegality or invalidity and permit enforcement and (ii) the remainder of this Agreement will not be affected. In particular, it is the parties’ intention that Section 4 be enforced to the maximum extent permitted by law.  
(d)    Governing Law.  This Agreement shall be governed and conformed in accordance with the laws of the state of Florida without regard to its conflict of laws provision.  In the event Executive or the Company breaches any provision of this Agreement, Executive and the Company affirm that either may institute an action to specifically enforce any term or terms of this Agreement.  Should any provision of this Agreement be declared illegal or unenforceable by any court of competent jurisdiction and cannot be modified to be enforceable, excluding the general release language, such provision shall immediately become null and void, leaving the remainder of this Agreement in full force and effect. This Agreement may not be modified, altered or changed except upon express written consent of both parties wherein specific reference is made to this Agreement.  This Agreement sets forth the entire agreement between the parties hereto, and fully supersedes any prior obligation of Executive and the Company under any prior agreements, including the Original Agreement. 
    
[SIGNATURES ON FOLLOWING PAGE]

IN WITNESS WHEREOF, the parties have executed this Agreement as set forth below.

CROSS COUNTRY HEALHCARE, INC.        EXECUTIVE

By:  /s/ William J. Grubbs                By:  /s/ Emil Hensel
       Name:  William J. Grubbs                        Name:  Emil Hensel
       Title:  President and CEO                        Title:  Chief Financial Officer

ANNEX A

RELEASE

In exchange for the Consideration described in the Transition Agreement to which this Release is an Exhibit, (except as to the obligations set forth in the Transition Agreement, which shall survive this Release, shall not be deemed waived by this Release and shall remain binding and enforceable despite this Release), the undersigned Executive knowingly and voluntarily releases and forever discharges the Company, its parent corporation, affiliates, subsidiaries, divisions, predecessors, insurers, successors and assigns, and their current and former employees, attorneys, officers, directors and agents thereof, both individually and in their business capacities, and their employee benefit plans and programs and their administrators and fiduciaries (collectively referred to throughout the remainder of this Agreement as the “Releasees”), of and from any and all claims, known and unknown, asserted or unasserted, which Executive has or may have against the Releasees as of the date of execution of this Agreement, including, but not limited to, any alleged violation of:  

		
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	Title VII of the Civil Rights Act of 1964, as amended;

		
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	The Civil Rights Act of 1991;

		
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	Sections 1981 through 1988 of Title 42 of the United States Code, as amended; 

		
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	The Employee Retirement Income Security Act of 1974 (“ERISA”), as amended (except for any vested benefits under any tax qualified benefit plan);

		
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	The Immigration Reform and Control Act, as amended;

		
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	The Americans with Disabilities Act of 1990 (the “ADEA”), as amended;

		
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	The Age Discrimination in Employment Act of 1967, as amended;

		
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	The Family and Medical Leave Act of 1993, as amended; 

		
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	The Fair Labor Standards Act of 1938, as amended; 

		
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	The Worker Adjustment and Retraining Notification Act, as amended; 

		
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	The Occupational Safety and Health Act, as amended; 

		
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	The Sarbanes-Oxley Act of 2002;

		
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	The Florida Civil Rights Act – Fla. Stat. § 760.01, et seq.;

		
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	Florida’s Private-Sector Whistle-blower’s Act – Fla. Stat. § 448.101, et seq.;

		
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	Florida’s Public-Sector Whistle-blower’s Act – Fla. Stat. § 112.3187, et seq.;

		
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	Florida’s Statutory Provision Regarding Retaliation/Discrimination for Filing a Workers Compensation Claim – Fla. Stat. § 440.205;

		
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	Florida’s Statutory Provision Regarding Wage Rate Discrimination Based on Sex – Fla. Stat. § 448.07;

		
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	The Florida Equal Pay Act – Fla. Stat. § 725.07;

		
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	The Florida Omnibus AIDS Act – Fla. Stat. § 760.50; 

		
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	Florida’s Statutory Provisions Regarding Employment Discrimination on the Basis of and Mandatory Screening or Testing for Sickle-Cell Trait – Fla. Stat. §§ 448.075, 448.076;

		
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	Florida’s Wage Payment Laws, Fla. Stat. §§ 448.01, 448.08; 

		
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	Florida’s Domestic Violence Leave Act – Fla. Stat. §741.313;

		
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	Florida’s Preservation & Protection of Right to Keep & Bear Arms in Motor Vehicles Act – Fla. Stat. §790.251;

		
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	Florida’s Statutory Provision Regarding Termination of Employees who Testify in Judicial Proceedings – Fla. Stat. § 92.57; 

		
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	Florida’s General Labor Regulations, Fla. Stat. ch. 448;

		
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	Any other federal, state or local civil or human rights law or any other local, state or federal law, regulation or ordinance; 

		
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	Any public policy, contract, tort, or common law; or

		
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	Any claim for costs, fees, or other expenses including attorneys’ fees incurred in these matters.

Notwithstanding the foregoing, nothing in this Agreement is intended to interfere with Executive’s right to file a charge with the Equal Employment Opportunity Commission (“EEOC”) in connection with any claim Executive believes he may have against any Releasee.  However, by executing this Agreement, Executive hereby waives the right to recover in any proceeding Executive may bring before the EEOC or any state human rights commission or in any proceeding brought by the EEOC or any state human rights commission on Employee’s behalf. 

Executive acknowledges and agrees that he has been advised in writing to consult with an attorney and has had the opportunity to seek legal advice before executing this Release.  Executive acknowledges and agrees that he has been afforded at least twenty-one (21) days to consider the meaning and preclusive effect of this Release and is entering into it freely and knowingly.  Executive acknowledges and agrees that he may revoke this Release for a period of seven (7) calendar days from the day he executes this Release.  Any revocation within this period must be submitted, in writing, to Susan Ball, General Counsel for the Company and state, “I hereby revoke my Release.”  The revocation must be personally delivered or mailed and postmarked within seven (7) calendar days of execution of this Release.  This Release shall not become effective or enforceable until the revocation period has expired.  If the last day of the revocation period is a Saturday, Sunday, or legal holiday in Florida, then the revocation period shall not expire until the next following day which is not a Saturday, Sunday, or legal holiday.  

ACCEPTED AND AGREED TO THIS
___ DAY OF JUNE, 2014

EXECUTIVE

______________________________
Emil Hensel
      

1

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