Document:

Horizon Health Corporation Employee Stock Purchase Plan

 Exhibit 10.14 
  
 HORIZON HEALTH CORPORATION 
 ANNUAL INCENTIVE BONUS PLAN – FISCAL 2005 
  

			
	James K. Newman:	  	 Shall have a bonus base of one hundred (100%) percent of fiscal 2005 base salary; and shall earn a bonus for fiscal 2005 from zero (0%) percent to
one hundred fifty (150%) percent of fiscal 2005 base salary based upon the Company’s actual audited fiscal 2005 earnings per share as compared to budgeted fiscal 2005 earnings per share.*
  

	 David K. White, Ph.D.
 President – Behavioral Health
Services:
	  	 Shall have a bonus base of fifty (50%) percent of fiscal 2005 base salary; and shall earn a bonus for fiscal 2005 from zero (0%) percent to seventy
(70%) percent, based upon Horizon Health Behavioral Health Services Group actual operating cash flow as compared to budgeted fiscal year 2005 operating cash flow.*
  

	 Frank J. Baumann
 President – Physical
Rehabilitation Services and ProCare One Nurses:
	  	 Shall have a bonus base of fifty (50%) percent of fiscal 2005 base salary; and shall earn a bonus for fiscal 2005 from zero (0%) percent to seventy
(70%) percent, based upon Horizon Health Physical Rehabilitation Services Group actual operating cash flow as compared to budgeted fiscal year 2005 operating cash flow.*
  

	 Jackie L. James
 President – EAP-Behavioral
Services:
	  	 Shall have a bonus base of fifty (50%) percent of fiscal 2005 base salary; and shall earn a bonus for fiscal 2005 from zero (0%) percent to seventy
(70%) percent, based upon Horizon Health EAP-Behavioral Services Group actual operating cash flow as compared to budgeted fiscal year 2005 operating cash flow.*
  

	John E. Pitts:	  	 Shall have a bonus base of fifty (50%) percent of fiscal 2005 base salary; and shall earn a bonus for fiscal 2005 from zero (0%) percent to seventy
(70%) percent of fiscal 2005 base salary based upon the Company’s actual audited fiscal 2005 earnings per share as compared to budgeted fiscal 2005 earnings per share.*
  

	Donald W. Thayer:	  	 Shall have a bonus base of fifty (50%) percent of fiscal 2005 base salary; and shall earn a bonus for fiscal 2005 from zero (0%) percent to seventy
(70%) percent of fiscal 2005 base salary based upon the Company’s actual audited fiscal 2005 earnings per share as compared to budgeted fiscal 2005 earnings per share.*
  

	David K. Meyercord:	  	Shall have a bonus base of fifty (50%) percent of fiscal 2005 base salary; and shall earn a bonus for fiscal 2005 from zero (0%) percent to seventy (70%) percent of fiscal 2005 base salary based
upon the Company’s actual audited fiscal 2005 earnings per share as compared to budgeted fiscal 2005 earnings per share.*

	*	Bonuses will be earned on a prorated basis, with zero (0%) percent of base salary earned in the event the Company achieves less than eighty (80%) percent of the budgeted performance
target for the fiscal year, twenty-five (25%) percent of base salary earned at eighty (80%) percent achievement, thereafter graduated up to fifty (50%) percent of base salary earned at one hundred (100%) percent achievement, and thereafter graduated
up to seventy (70%) percent of base salary earned in the event the Company achieves one hundred fifteen (115%) percent or more of the budgeted fiscal 2005 performance target. 

 DEFERRED INCENTIVE AWARD PLAN – FISCAL 2005 
  
 Subject to and conditioned upon approval of a new omnibus incentive plan by the shareholders
of the Company at its Annual Meeting of Stockholders to be held in January 2005, the executive officers of the Company named above have been granted deferred incentive awards on the following basis: 
  

	 	(a)	Each executive officer has a deferred incentive award base of fifty percent (50%) of 2005 base salary (except for Mr. Newman who has a bonus base of one hundred percent (100%) of
2005 base salary) and may earn from zero percent (0%) to seventy percent (70%) of fiscal 2005 base salary (one hundred fifty percent (150%) in the case of Mr. Newman) based upon the Company’s actual audited fiscal 2005 earnings per share as
compared to budgeted fiscal 2005 earnings per share. For officers other than Mr. Newman, deferred incentive awards are earned on a prorated basis, with zero percent (0%) of bonus base salary earned at achievement of eighty percent (80%) or less of
target; twenty-five percent (25%) of base salary earned at eighty percent (80%) achievement thereafter graduated up to fifty percent (50%) of base salary earned at one hundred percent (100%) achievement; and then further graduated up to seventy
percent (70%) of base salary in the event the Company achieves one hundred fifteen percent (115%) or more of the budgeted target. In the case of Mr. Newman, the deferred incentive award is earned fifty percent (50%) of base salary at eighty percent
(80%) achievement graduated up to one hundred percent (100%) of base salary at one hundred percent (100%) achievement and further graduated up to one hundred fifty percent (150%) of base salary at one hundred fifteen percent (115%) or more
achievement. 

  

	 	(b)	Deferred incentive awards are payable in four installments with the first installment due when the audited financial results and satisfaction of the performance target are
determined after the end of the 2005 fiscal year. The other three installments are payable annually thereafter subject to the continued employment of the officer by the Company. If the employment of the officer terminates for any reason other than
death, disability or retirement, any unvested, unpaid installments are forfeited. All unvested installments, become fully vested and are payable in the event of a change in control of the Company. 

  

	 	(c)	The deferred incentive award is payable one-half in cash and one-half in restricted stock. The total number of shares of restricted stock will be determined by dividing the dollar
value of one-half of the total deferred incentive award that is earned by the closing stock price of the Common Stock of the Company on the last day of its fiscal 2005 year. Each installment is payable one-half in cash and one-half in restricted
stock.Agreement dated July 1, 2004

 Exhibit 10.16 
  
 EXECUTIVE AGREEMENT 
 (Severance/Non-Competition) 
  
 This Executive Agreement (the “Agreement”) is made as of July 1, 2004, by and between Horizon Health Corporation, a Delaware corporation (hereinafter referred to as “Horizon”), and David K. Meyercord (hereinafter
referred to as “Executive”). 
  
 WHEREAS, the Executive
has accepted employment as a Senior Vice President and General Counsel of Horizon; and 
  
 WHEREAS, the Executive and Horizon have agreed to enter into a severance agreement, in part, for and in consideration of the agreement of the Executive to a non-competition agreement on the terms and conditions
hereinafter set forth; 
  
 In consideration of the premises and
the mutual terms and conditions hereinafter set forth, Horizon and the Executive hereby agree as follows: 
  
 1. Severance Agreements. In the event of the termination of employment of the Executive by Horizon without Cause (as defined in Section 2
hereof) or the termination of employment of the Executive by the Executive with Good Reason (as defined in Section 3 hereof, 
  
 a. Executive shall be entitled to severance pay in an amount equal to the Executive’s annual base salary then in effect on the date of termination of
employment plus fifty percent (50%) of the maximum annual cash bonus that the Executive was eligible to receive with respect to the fiscal year in which such termination occurs. Such severance amount shall be payable in twelve (12) equal monthly
installments payable on the first regular payroll payment date of Horizon in the calendar month after the month in which such termination of employment occurs. 
  

b. In the event such termination occurs after a Change of Control, all stock options or other equity deferred awards granted by the Company to the
Executive, all contributions made by the Company for the account of the Executive to any pension, thrift or any other benefit plan, and all other benefits or bonuses (including cash bonuses) which contain vesting or exercisability provisions
conditioned upon or subject to the continued employment of the Executive, shall become fully vested; provided, however, that, if any such amount, benefit, or payment cannot become fully vested pursuant to such plan or arrangement on account of
limitations imposed by law, the Executive shall be entitled, to the extent permitted by law, to receive from the Company an amount in cash payable within 30 days of the date of termination equal to the total amount of benefits or payments which the
Executive will have to forfeit pursuant to such plan or arrangement on account of such termination of employment. 
  
 c. The Company shall continue the participation of the Executive on the same basis as extended to senior executive officers of the Company from time to
time in all life, accident, disability, medical, dental and all other health plans maintained by the Company for its 
  

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 senior executives for a period of one year commencing with the calendar month after the month in which such termination
occurs. No severance pay shall be payable to the Executive in the event of (a) the voluntary termination of employment by the Executive without Good Reason, (b) the termination of employment of the Executive by Horizon with Cause or (c) the
termination of employment of the Executive due to death, disability or retirement. 
  
 2. Definition of Cause. For purposes of this Agreement, the term “Cause” shall mean: (i) conviction of a crime punishable by imprisonment under state or federal law; (ii) commission of any act
of dishonesty against Horizon; (iii) willful and material failure to perform the employment duties by the Executive and the continuation of such failure for at least ten days after Horizon provides written notice to the Executive specifying in
reasonable detail the nature of such failure, (iv) failure by the Executive to devote substantially all his working, time and ability exclusively to the attention of Horizon; or (v) the failure of the Executive to exercise diligence to protect the
trade secrets and confidential and proprietary information of Horizon. 
  
 3. Definition of Good Reason. For the purposes of this Agreement, the term “Good Reason” shall mean: 
  
 i. If the Company breaches any material provision of this Agreement or fails to perform any of its obligations hereunder, including,
without limitation, the failure to timely pay any amounts due hereunder, and such breach or failure continues for at least ten days after the Executive provides written notice to the Company specifying in reasonable detail the nature of such breach
or failure; or 
  
 ii. After the occurrence of a
Change of Control, the Executive is required to work at an office location outside the Dallas/Ft. Worth metropolitan area; or 
  
 iii. After the occurrence of a Change of Control, the Company materially reduces the compensation of the Executive or assigns to the
Executive any duties inconsistent in any respect with the Executive’s position (including status, office, title and reporting requirements), authority or responsibilities or take any other action which results in a material diminution in such
position, authorities, duties or responsibilities of the Executive. 
  
 4. Definition of Change of Control. For purposes of this Agreement, “Change of Control” shall mean: 
  
 a. The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as
amended (the “Exchange Act”)) (an “Acquiring Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 50% or more of either (i) the then outstanding shares of common stock of the
Company (the “Outstanding Company Common Stock”) or (ii) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting
Securities”); provided, however, that for purposes of this subsection (a), the following acquisitions shall not constitute a Change of Control: (i) any acquisition directly from the Company, (ii) any acquisition by the Company, (iii) any
acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company. 
  

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 b. Individuals who, as of the date hereof, constitute the Board (the “Incumbent Board”) cease
for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the date hereof whose election or nomination for election by the Company’s shareholders, was approved by a
vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of
office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of an Acquiring Person other than the Board;
or 
  
 c. Approval by the shareholders of the Company of a
complete liquidation or dissolution of the Company. 
  
 5.
Non-Competition and Confidentiality. 
  
 a.
Executive recognizes and understands that in performing the responsibilities of his employment, he will occupy a position of fiduciary trust and confidence, pursuant to which he will develop and acquire experience and knowledge with respect to the
business of Horizon and its confidential proprietary information. It is the express intent and agreement of Executive and Horizon that such knowledge and experience shall be used exclusively in the furtherance of the interests of Horizon and not in
any manner which would be detrimental to Horizon’s interests. Executive further understands and agrees that Horizon conducts its business within a specialized market segment throughout the United States and that it would be detrimental to the
interests of Horizon if Executive used the knowledge and experience which he acquires pursuant to his employment and position with Horizon for the purpose of directly or indirectly competing with Horizon, or for the purpose of aiding other persons
or entities in so competing with Horizon, anywhere in the United States. 
  
 Executive therefore agrees that so long as he is employed by Horizon and for a period of one (1) year from the date of termination of employment for any reason whatsoever, with or without Cause, (unless Executive
first secures the written consent of Horizon) 
  
 i. Executive shall not, directly or indirectly, as an employee, employer, consultant, agent, principal, partner, shareholder, corporate officer, director or through any kind of ownership or investment (other than ownership of securities of
publicly held corporations of which Executive owns less than four percent (4%) of any class of outstanding securities), engage in any business or render any services to any business that is in competition with the business conducted by Horizon on
the date of termination of employment; and 
  
 ii. Executive shall not encourage, solicit or induce, directly or indirectly, any manager, supervisor, officer, director or employee of Horizon to terminate his or her employment with Horizon or hire any such individual. 
  

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 The foregoing non-competition provisions are not to be construed to prohibit Executive from being
employed in the health care industry, but rather to permit him to be so employed so long as such employment does not involve Executive’s direct or indirect participation in a business which is the same or similar to Horizon’s business.

  
 b. Executive acknowledges that, in rendering his services, he
shall have access to and contact with the trade secrets and confidential and proprietary business information of Horizon. Both during the term of this Agreement and thereafter, Executive covenants and agrees as follows: 
  
 i. That he shall use his best efforts and exercise utmost
diligence to protect and safeguard the trade secrets and confidential and proprietary information of the Company; 
  
 ii. That he shall not disclose any of such trade secrets and confidential and proprietary information, except as may be required in the
course of performing his services under this Agreement; and 
  
 iii. That he shall not use, directly or indirectly, for his own benefit or for the benefit of another, any of such trade secrets and confidential and proprietary information. 
  
 All files, records, documents, memoranda, notes or other documents relating
to the business of the Company, whether prepared by the Executive or otherwise coming into his possession, shall be the exclusive property of Horizon and shall be delivered to Horizon and not retained by the Executive upon termination of employment
for any reason whatsoever. 
  
 It is expressly understood,
however, that the foregoing shall not apply to any information that was generally available to the public in a non-confidential basis prior to the date of this Agreement or was or becomes generally available to the public on a non-confidential basis
from a third-party who is not bound to keep such information confidential. 
  
 c. Executive acknowledges that the restrictions contained in Section 3 are reasonable and necessary to protect the legitimate interests of Horizon in view of the nature of the business in which Horizon is engaged.
Executive understands that the remedies at law for his violations of any of the covenants or provisions of Section 3 will be inadequate, that such violation will cause irreparable injury within a short period of time, and that Horizon shall be
entitled to preliminary injunctive relief against such violation and specific performance of such covenants. Such injunctive relief and specific performance shall be in addition to, and in no way in limitation of, any and all other remedies Horizon
shall have in law and equity for the enforcement of those covenants and provisions. 
  
 6. General Provisions. 
  
 a. Any notice to be given hereunder by either party to the other may be effected in writing by personal delivery or by mail, registered or certified, postage prepaid with return receipt requested. Mailed notices shall be addressed to the
parties at the addresses set forth below, but each party may change his or its address by written notice in accordance with 
  

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 this Section 4(a). Notice delivered personally shall be deemed communicated as of the date of actual receipt; mailed
notices shall be deemed communicated as of three days after the date of mailing. 
  

					
	 If to Executive:
	 	 David K. Meyercord
	 	 
	 	 	 5831 Meletio Lane
	 	 
	 	 	 Dallas, Texas 75230
  
	 	 
	 If to Horizon:
	 	 1500 Waters Ridge Drive
	 	 
	 	 	 Lewisville, Texas 75057-6011
	 	 
	 	 	 Attention:         President
	 	 

  
 b. If any provision in
this Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable, such provision shall be fully severable and the remaining provisions shall, nevertheless, continue in full force and without being impaired or
invalidated in any way. Furthermore, in lieu of such invalid, void or unenforceable provision there shall be added automatically as a part of this Agreement, a provision as similar in terms to such invalid, void or unenforceable provision as may be
possible and still be legal, valid and enforceable. 
  
 c. This
Agreement shall be governed by and construed in accordance with the laws of the State of Texas. 
  
 d. This Agreement constitutes the sole and complete agreement of the parties, and supersedes all other agreements and understandings, whether oral or
written, between the parties hereto with respect to the subject matter hereof. Each party to this Agreement acknowledges that no representations, inducements or agreements, oral or otherwise, not contained in this Agreement, and no other agreement,
statement or promise not contained in this Agreement, shall be valid or binding. Any modification of this Agreement will be effective only if it is in writing signed by the parties hereto. 
  
 e. This Agreement may be executed in two or more counterparts, each of which
shall constitute an original, but which together shall constitute one and the same agreement. 
  
 (Remainder of Page Intentionally Left Blank) 
  

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 IN WITNESS WHEREOF, the parties have executed this Executive Agreement as of the date first written
above. 
  

			
	 HORIZON HEALTH CORPORATION

		
	 By:
	 	 /s/ Ken Newman

	 	 	 Ken Newman, President

	
	 EXECUTIVE

	
	 /s/ David K. Meyercord

	 David K. Meyercord

  

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