Document:

exv10w31

Exhibit 10.31

EXECUTIVE EMPLOYMENT AGREEMENT (without term period)

THIS EXECUTIVE EMPLOYMENT AGREEMENT (“Agreement”) is effective (Date), by and between (NAME)
(“Executive”) and (Company Name), a [State] corporation (“Company”).

	1.	 	EMPLOYMENT.
In consideration of the terms and commitments contained in this agreement, Executive
agrees to and acknowledges the following:
	 
	2.	 	DUTIES, RESPONSIBILITIES AND TITLE.
Executive shall assume and perform such duties, functions and responsibilities relating
to Executive’s employment with Company as may be assigned from time to time by the Company.
Executive’s title shall be (Title) of Company, subject to modification as determined by the
Company’s Chief Executive Officer (“CEO”).
	 
	3.	 	COMPENSATION.
Company agrees to compensate Executive, and Executive agrees to accept as compensation
in full, a base salary. Employee will also be eligible for short-term incentive awards
pursuant to the terms of the Performance Incentive Program or any applicable successor plan
(“Bonus”) [optional: or other bonus program], and eligible to receive awards under the 2006
Equity Incentive Plan, as amended and restated, or any applicable successor plan and for
such perquisites as are from time to time received by similarly situated executives.
	 
	4.	 	COMPLIANCE WITH LAWS AND POLICIES.
Executive shall dedicate his/her full business time and attention to the performance of
duties hereunder, perform his/her duties in good faith and to a professional standard, and
fully comply with all laws and regulations pertaining to the performance of his/her
responsibilities, all ethical rules, ABM’s Code of Business Conduct and Ethics, ABM’s
Recoupment Policy as well as any and all of policies, procedures and instructions of Company
and ABM.
	 
	5.	 	RESTRICTIVE COVENANTS.
In consideration of the compensation, contract term, potential Severance
Benefits, continued employment provided by Company, as well as the access Company will
provide Executive to its Confidential Information, as defined below, and current and
prospective customers, all as necessary for the performance of Executive’s duties hereunder,
Executive hereby agrees to the following during his/her employment and thereafter as
provided:

	 	5.1	 	CONFIDENTIAL INFORMATION DEFINED. Confidential Information includes but is not
limited to (i) Company and its subsidiary companies’ trade secrets, know-how, ideas,
applications, systems, processes and other confidential information which is not
generally known to and/or readily ascertainable through proper means by the general
public; (ii) plans for business development, marketing, business plans and strategies,
budgets and financial statements of any kind, costs and suppliers, including methods,
policies, procedures, practices,

1

 

	 	 	 	devices and other means used by Company and its subsidiaries in the operation of its
business, pricing plans and strategies, as well as information about Company and
affiliated entity pricing structures and fees, unpublished financial information,
contract provisions, training materials, profit margins and bid information; (iii)
information regarding the skills, abilities, performance and compensation of other
employees of the Company or its subsidiaries, or of the employees of any company
that contracts to provide services to the Company or its subsidiaries; (iv)
information of third parties to which Executive had access by virtue of Executive’s
employment, including, but not limited to information on customers, prospective
customers, and/or vendors, including current or prospective customers’ names,
contact information, organizational structure(s), and their representatives
responsible for considering the entry or entering into agreements for those
services, and/or products provided by Company and its subsidiaries; customer leads
or referrals; customer preferences, needs, and requirements (including customer
likes and dislikes, as well as supply and staffing requirements) and the manner in
which they have been met by Company or its subsidiaries; customer billing
procedures, credit limits and payment practices,; and customer information with
respect to contract and relationship terms and conditions, pricing, costs, profits,
sales, markets, plans for future business and other development; purchasing
techniques; supplier lists; (v) information contained in Company’s LCMS database,
JDE , LMS or similar systems; (vii) any and all information related to past, current
or future acquisitions between Company or Company-affiliated entities including
information used or relied upon for said acquisition (“Confidential Information.”)
	 
	 	5.2	 	NON-DISCLOSURE. Company and Executive acknowledge and agree that Company has
invested significant effort, time and expense to develop its Confidential Information.
Except in the proper performance of this Agreement, Executive agrees to hold all
Confidential Information in the strictest confidence, and to refrain from making any
unauthorized use or disclosure of such information both during Executive’s employment
and at all times thereafter. Except in the proper performance of this Agreement,
Executive shall not directly or indirectly disclose, reveal, transfer or deliver to any
other person or business, any Confidential Information which was obtained directly or
indirectly by Executive from, or for, Company or its subsidiaries or by virtue of
Executive’s employment. This Confidential Information has unique value to the Company
and its subsidiaries, is not generally known or readily available by proper means to
their competitors or the general public, and could only be developed by others after
investing significant effort, time, and expense. Executive understands that Company or
its subsidiaries would not make such Confidential Information available to Executive
unless Company was assured that all such Confidential Information will be held in trust
and confidence in accordance with this Agreement and applicable law. Executive hereby
acknowledges and agrees to use this Confidential Information solely for the benefit of
Company and its affiliated entities.

2

 

	 	5.3	 	NON-SOLICITATION OF EMPLOYEES. Executive acknowledges and agrees that Company
has developed its work force as the result of its investment of substantial time,
effort, and expense. During the course and solely as a result of Executive’s
employment with Company, Executive will come into contact with employees of Company and
affiliated-entities, develop relationships with and acquire information regarding their
knowledge, skills, abilities, salaries, commissions, benefits, and other matters that
are not generally known to the public. Executive further acknowledges and agrees that
hiring, recruiting, soliciting, or inducing the termination of such employees will
cause increased expenses and a loss of business. Accordingly, Executive agrees that
while employed by Company and for a period of one year following the termination of
Executive’s employment (whether termination is voluntary or involuntary), Executive
will not directly or indirectly solicit, hire, recruit or otherwise encourage, assist
in or arrange for any employee to terminate employment with Company or any other
Company-affiliated entity except in the proper performance of this Agreement. This
prohibition against solicitation shall include but not be limited to: (i) identifying
to other employers or their agents, recruiting or staffing firms, or other third
parties the Company employee(s) who have specialized knowledge concerning Company’s
business, operations, processes, methods, or other confidential affairs or who have
contacts, experience, or relationships with particular customers; (ii) disclosing or
commenting to other employers or their agents, recruiting or staffing firms, or other
third parties regarding the quality or quantity of work, specialized knowledge, or
personal characteristics of any person still employed by Company or any other
Company-affiliated entity; and (iii) providing such information to prospective
employers or their agents, recruiting or staffing firms, or other third parties
preceding possible employment.
	 
	 	5.4	 	NON-SOLICITATION OF CUSTOMERS. Executive acknowledges and agrees that Company
and its subsidiaries have identified, solicited, and developed their customers and
developed customer relationships as the result of their investment of significant time,
effort, and expense and that Company has a legitimate business interest in protecting
these relationships. Executive further acknowledges that he or she would not have been
privy to these relationships were it not for Executive’s employment by Company.
Executive further acknowledges and agrees that the loss of such customers and clients
would damage Company and potentially cause Company great and irreparable harm.
Consequently, Executive covenants and agrees that during and for one year following the
termination of Executive’s employment with Company (whether such termination is
voluntary or involuntary), Executive shall not, directly or indirectly, for the benefit
of any person or entity other than the Company, attempt to seek, seek, attempt to
solicit, solicit, or accept work from any customer, client or active customer prospect
with whom Executive developed a relationship while employed by Company or otherwise
obtained Confidential Information about for the purpose of diverting business from
Company or an affiliated entity. In addition, Executive agrees that at all times after
the voluntary or involuntary

3

 

	 	 	 	termination of Executive’s employment, Executive shall not attempt to seek, seek,
attempt to solicit, solicit, or accept work from of any customer or active customer
prospect of Company or any other Company-affiliated entity through the direct or
indirect use of any Confidential Information or by any other unfair or unlawful
business practice.
	 
	 	5.5	 	POST EMPLOYMENT COMPETITION. Executive agrees that while employed by Company
and for a period of twelve months following Executive’s termination of employment
(whether such termination is voluntary or involuntary), Executive shall not work,
perform services for, or engage in any business, enterprise, or operation that calls
for, requires, or contemplates Executive providing any work, services, or effort that
(i) requires Executive to provide any work, service, or effort that could or would
require the application, disclosure, reliance, or use of the Confidential Information
or other legitimate business interest, including relationships, of Company for any
third-party, or (ii) is substantially similar to those services or work Executive
performed on the Company’s behalf which compete directly or indirectly with the
Company or any Company-affiliated entity of which Executive had information or
knowledge by providing goods, products, or services that are the same or substantially
similar to those provided by Company in the twelve month period preceding the effective
date of Executive’s termination of employment. The Executive acknowledges that the
Company and its subsidiaries are engaged in business in various states throughout the
U.S. Accordingly, and in view of the nature of Executive’s nationwide position and
responsibilities, Executive agrees that the provisions of this Section’s restrictions
shall be applicable to Executive in each state and each foreign country in which the
Executive performed work, services, or engaged in business activity on behalf of the
Company or Executive was provided confidential or proprietary information regarding the
Company’s business activities in those areas within the twelve-month period preceding
the effective date of Executive’s termination of employment. This Section 5.5 shall not
apply if the State of Employment is California.
	 
	 	5.6	 	NON-DISPARAGEMENT. During Executive’s employment with Company and thereafter,
Executive agrees not to make any statement or take any action which disparages,
defames, or places in a negative light Company, Company-affiliated entities, or its or
their reputation, goodwill, commercial interests or past and present officers,
directors and employees.
	 
	 	5.7	 	COOPERATION WITH LEGAL MATTERS. During Executive’s employment with Company and
thereafter, Executive shall cooperate with Company and any Company-affiliated entity in
its or their investigation, defense or prosecution of any potential, current or future
legal matter in any forum, including but not limited to lawsuits, administrative
charges, audits, arbitrations, and internal and external investigations. Executive’s
cooperation shall include, but is not limited

4

 

	 	 	 	to, reviewing and preparing documents and reports, meeting with attorneys
representing any Company-affiliated entity, providing truthful testimony, and
communicating Executive’s knowledge of relevant facts to any attorneys, experts,
consultants, investigators, employees or other representatives working on behalf of
an Company-affiliated entity. Except as required by law, Executive agrees to treat
all information regarding any such actual or potential investigation or claim as
confidential. Executive also agrees not to discuss or assist in any litigation,
potential litigation, claim, or potential claim with any individual (or their
attorney or investigator) who is pursuing, or considering pursuing, any claims
against the Company or a Company-affiliated entity unless required by law. In
performing the tasks outlined in this Section 5.7, Executive shall be bound by the
covenants of good faith and veracity set forth in ABM’s Code of Business Conduct and
Ethics and by all legal obligations. Nothing herein is intended to prevent
Executive from complying in good faith with any subpoena or other affirmative legal
obligation. Executive agrees to notify the Company immediately in the event there
is a request for information or inquiry pertaining to the Company, any
Company-affiliated entity, or Executive’s knowledge of or employment with the
Company. In performing responsibilities under this Section, Executive shall be
compensated for Executive’s time at an hourly rate of $250 per hour. However, during
any period in which Executive is an employee of ABM or during the severance period,
Executive shall not be so compensated.
	 
	 	5.8	 	REMEDIES AND DAMAGES. The parties agree that compliance with Sections 5.1 —
5.7 of the Agreement is necessary to protect the business and goodwill of Company, that
the restrictions contained herein are reasonable and that any breach of this Section
will result in irreparable and continuing harm to Company, for which monetary damages
will not provide adequate relief. Accordingly, in the event of any actual or
threatened breach of any covenant or promise made by Executive in Section 5, Company
and Executive agree that Company shall be entitled to all appropriate remedies,
including temporary restraining orders and injunctions enjoining or restraining such
actual or threatened breach. Executive hereby consents to the issuance thereof
forthwith by any court of competent jurisdiction.
	 
	 	5.9	 	LIMITATIONS. Nothing in this Agreement shall be binding upon the parties to
the extent it is void or unenforceable for any reason in the State of Employment,
including, without limitation, as a result of any law regulating competition or
proscribing unlawful business practices; provided, however, that to the extent that any
provision in this Agreement could be modified to render it enforceable under applicable
law, it shall be deemed so modified and enforced to the fullest extent allowed by law.

5

 

	6.	 	TERMINATION OF EMPLOYMENT.

	 	6.1	 	TERMINATION. Company may terminate Executive’s employment at any time, for any
reason, with or without notice, and with or without Cause. “Cause” means the
occurrence of one of the following: (i) Executive’s serious misconduct, dishonesty,
disloyalty, or insubordination; (ii) Executive’s conviction (or entry of a plea bargain
admitting criminal guilt) of any felony or a misdemeanor involving moral turpitude;
(iii) drug or alcohol abuse that has a material or potentially material effect on the
Company’s reputation and/or on the performance of Executive’s duties and
responsibilities under this Agreement; (iv) Executive’s failure to substantially
perform Executive’s duties and responsibilities under this Agreement for reasons other
than death or Disability, as defined below; (v) Executive’s repeated inattention to
duty for reasons other than death or Disability; and (vi) any other material breach of
this Agreement by Executive. In the event of a termination following the [for all
employees employed by a Subsidiary company, insert good faith determination of Cause by
the Board of Directors of the Subsidiary company (“Board”) in this space; for employees
of ABM, except for Section 16 officers, insert CEO’s good faith determination of Cause]
Executive shall not be eligible for a prorated Bonus, or any Severance Benefits, as
defined below in Section 6.2.
	 
	 	6.2	 	SEVERANCE BENEFITS. In the event Executive is involuntarily terminated in the
absence of a good faith determination of Cause by the Board for reasons other than
Disability or death, Executive shall be offered severance pay and other benefits in
accordance with the ABM Severance Policy in effect at the time of such termination
(“Severance Benefits”). Executive shall be required to execute, without exercising any
right of revocation, a full release of all claims within 21 days following termination
of employment in order to be eligible for Severance Benefits.
	 
	 	6.3	 	EXCESS PARACHUTE PAYMENTS. Subject to a Severance Agreement between Executive
and the Company approved by the Board of Directors or the Compensation Committee of ABM
Industries Incorporated, if any amount or benefit to be paid or provided under the ABM
Severance Policy, an equity award, and/or any other agreement between Executive and the
Company would be an Excess Parachute Payment but for the application of this sentence,
then the payments and benefits to be paid or provided under the Severance Program,
equity award(s), and/or any other agreement will be reduced to the minimum extent
necessary (but in no event to less than zero) so that no portion of any such payment or
benefit, as so reduced, constitutes an Excess Parachute Payment; provided, however,
that the foregoing reduction will not be made if such reduction would result in
Executive receiving an amount determined on an after-tax basis, taking into account the
excise tax imposed pursuant to Section 4999 of the Code, or any successor provision
thereto, any tax imposed by any comparable

6

 

	 	 	 	provision of state law and any applicable federal, state and local income and
employment taxes (the “After-Tax Amount”) less than 90% of the After-Tax Amount of
the severance payments he or she would have received under the Company’s Severance
Policy or under any other agreement without regard to this clause. Whether
requested by the Executive or the Company, the determination of whether any
reduction in such payments or benefits to be provided under this Agreement or
otherwise is required pursuant to the preceding sentence, and the value to be
assigned to the Executive’s covenants in Section 8 hereof for purposes of
determining the amount, if any, of the “excess parachute payment” as defined in
Section 280G of the Code, will be made at the expense of the Company by the
Company’s independent accountants or benefits consultant. The determination of
whether any reduction in Severance Benefits, equity award(s) and/or any other
agreement or otherwise is required pursuant to the preceding sentence will be made
at the expense of the Company by independent accountants selected by Company or the
Company’s benefits consultant. The determination of whether any reduction in
Severance Benefits, an equity award or any other agreement or otherwise is required
pursuant to the preceding sentence will be made at the expense of the Company by
independent accountants selected by Company or the Company’s benefits consultant.
The fact that Executive’s right to payments or benefits may be reduced by reason of
the limitations contained in this paragraph will not of itself limit or otherwise
affect any other rights of Executive under any other agreement. In the event that
any payment or benefit intended to be provided is required to be reduced pursuant to
this paragraph, Executive will be entitled to designate the payments and/or benefits
to be so reduced in order to give effect to this paragraph. The Company will
provide Executive with all information reasonably requested by Executive to permit
Executive to make such designation. In the event that Executive fails to make such
designation within 10 business days after receiving notice from the Company of a
reduction under this paragraph, the Company may effect such reduction in any manner
it deems appropriate. The term “Excess Parachute Payment” as used in this paragraph
means a payment that creates an obligation for Executive to pay excise taxes under
Section 280G of the Internal Revenue Code of 1986, as amended, or any successor
statute.
	 
	 	6.4	 	VOLUNTARY TERMINATION BY EXECUTIVE. At any time, Executive may terminate
employment hereunder by giving Company 60 days prior written notice. Executive may
terminate employment upon such shorter period of notice as may be reasonable under the
circumstances. For a voluntary termination for reasons other than the Executive’s
Disability, Executive will not receive any prorated Bonus. Executive shall not be
eligible for any Severance Benefits in the event of his/her resignation. Company
reserves the right to relieve Executive of his/her duties at the Company’s discretion
following notice of Executive’s intent to resign.
	 
	 	6.5	 	DISABILITY OR DEATH. Employment hereunder shall automatically terminate upon
the death of Executive and may be terminated at the Company’s discretion

7

 

	 	 	 	as a result of Executive’s Disability. “Disability” means Executive’s substantial
inability to perform Executive’s essential duties and responsibilities under this
Agreement for either 90 consecutive days or a total of 120 days out of 365
consecutive days as a result of a physical or mental illness, injury or impairment,
all as determined in good faith by the Company. Upon termination due to death or
Disability, Company shall pay when due to Executive, or, upon death, Executive’s
designated beneficiary or estate, as applicable, any and all previously earned, but
as yet unpaid, salary and reimbursement of business expenses which would have
otherwise been payable to Executive under this Agreement, through the end of the
month in which Disability or death occurs. In the event of termination due to death
or Disability, Company shall pay to Executive, or, in the event of death, to
Executive’s designated beneficiary or estate, as applicable, a prorated Bonus based
on the length of performance in the applicable performance period prior to
Disability or death. Any prorated Bonus payable under this paragraph shall be paid
at the end of the applicable performance period when such payments are made to other
participants and in accordance with the terms of the applicable plan or program.
Executive shall not be eligible for any Severance Benefits in the event of a
separation from employment due to Executive’s death or Disability.
	 
	 	6.6	 	ACTIONS UPON TERMINATION. Upon termination of employment hereunder, Executive
shall immediately resign as an officer and/or director of Company and of any Company
subsidiaries or affiliates, including any LLCs or joint ventures, as applicable. At
Company’s request, Executive also agrees to resign from the board of any Taft-Hartley
trust fund joined during his/her employment with Company. Executive shall promptly
return and release all Company property and Confidential Information, in all forms, in
Executive’s possession to Company. Company shall pay Executive when due any and all
previously earned, but as yet unpaid, salary and reimbursement of business expenses
submitted in accordance with Company policy as in effect
	 
	 	6.7	 	WITHHOLDING AUTHORIZATION. To the fullest extent permitted under the laws of
the State of Employment hereunder, Executive authorizes Company to withhold from any
Severance Benefits otherwise due to Executive and from any other funds held for
Executive’s benefit by Company, any damages or losses sustained by Company as a result
of any material breach or other material violation of this Agreement by Executive,
pending resolution of any underlying dispute.

	7.	 	GENERAL PROVISIONS.

	 	7.1	 	GOVERNING LAW. This Agreement shall be interpreted and enforced in accordance
with the laws of the State of Employment, which, for purposes of this Agreement, shall
mean the state where Executive is regularly and customarily employed and where
Executive’s primary office is located.

8

 

	 	7.2	 	NO WAIVER. Failure by either party to enforce any term or condition of this
Agreement at any time shall not preclude that party from enforcing that provision, or
any other provision of this Agreement, at any later time.
	 
	 	7.3	 	SEVERABILITY. It is the desire and intent of the parties that the provisions
of this Agreement be enforced to the fullest extent permissible under the law and
public policies applied in each jurisdiction in which enforcement is sought.
Accordingly, in the event that any provision of this Agreement would be held in any
jurisdiction to be invalid, prohibited or unenforceable for any reason, such provision,
as to such jurisdiction, shall be ineffective, without invalidating the remaining
provisions of this Agreement or affecting the validity or enforceability of such
provision in any other jurisdiction. Notwithstanding the foregoing, if such provision
could be more narrowly drawn so as not to be invalid, prohibited or unenforceable in
such jurisdiction, it shall, as to such jurisdiction, be either automatically deemed so
narrowly drawn, or any court of competent jurisdiction is hereby expressly authorized
to redraw it in that manner, without invalidating the remaining provisions of this
Agreement or affecting the validity or enforceability of such provision in any other
jurisdiction.
	 
	 	7.4	 	SURVIVAL. All terms and conditions of this Agreement which by reasonable
implication are meant to survive the termination of this Agreement, including but not
limited to the provisions of Sections 5.1 — 5.6 of this Agreement, shall remain in
full force and effect after the termination of this Agreement.
	 
	 	7.5	 	REPRESENTATIONS BY EXECUTIVE. Executive represents and agrees that Executive
has carefully read and fully understands all of the provisions of this Agreement, that
Executive is voluntarily entering into this Agreement and has been given an opportunity
to review all aspects of this Agreement with an attorney, if Executive chooses to do
so. Executive understands and agrees that Executive’s employment with the Company is
at-will and that nothing in this Agreement is intended to create a contract of
employment for any fixed or definite term. Executive understands he/she is also now
eligible for Severance Benefits to which Executive was not previously entitled and
acknowledges the value of such benefits. Executive also represents that he/she will not
make any unauthorized use of any confidential or Proprietary Information of any third
party in the performance of his/her duties under this Agreement and that Executive is
under no obligation to any prior employer or other entity that would preclude or
interfere with the full and good faith performance of Executive’s obligations
hereunder.
	 
	 	7.6	 	ENTIRE AGREEMENT. Unless otherwise specified herein, this Agreement sets forth
every contract, understanding and arrangement as to the employment relationship between
Executive and Company, and may only be changed by a written amendment signed by both
Executive and Company.

9

 

	 	7.6.a	 	NO EXTERNAL EVIDENCE. The parties intend that this Agreement
speak for itself, and that no evidence with respect to its terms and conditions
other than this Agreement itself may be introduced in any arbitration or
judicial proceeding to interpret or enforce this Agreement.
	 
	 	7.6.b	 	OTHER AGREEMENTS. It is specifically understood and accepted
that this Agreement supersedes all oral and written employment agreements
between Executive and Company prior to the date of this Agreement. However, it
is expressly understood that, notwithstanding any provision to the contrary
contained in this Agreement (whether explicit or implicit), the terms and
restrictions set forth in any Asset Purchase Agreement, Merger Agreement or
Stock Purchase Agreement or any agreements ancillary thereto, entered into by
and between Executive and any ABM-affiliated entity setting forth Executive’s
duties under a Covenant Not To Compete in connection with the sale of such
assets, shall remain in full force and effect during employment and thereafter.
	 
	 	7.6.c	 	AMENDMENTS. This Agreement may not be amended except in a
writing approved by the CEO and signed by the Executive and the President or
Chief Executive of Company.

10

 

IN WITNESS WHEREOF, Executive and Company have executed this Agreement as of the date set forth
above.

	 	 	 	 	 	 	 	 	 

	 	 	Executive:	 	(Executive Name)
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	Signature:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	Date:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	Company:	 	(Legal Company Name)
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	Signature:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	Date:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 

11Exhibit 10.1

Exhibit 10.1

AGREEMENT

This Agreement (the “Agreement”) is made as of the date indicated below by and between IASIS
Healthcare Corporation, a Delaware corporation (the “Company”) and DAVID R. WHITE (“White”), and
shall be effective as of October 31, 2010 (the “Effective Date”).

W I T N E S S E T H:

WHEREAS, the Company and White entered into an employment agreement dated May 4, 2004, which
was subsequently amended as of December 31, 2008 (as so amended, the “Employment Agreement”); and

WHEREAS, White wishes to resign from the position of Chief Executive Officer of the Company as
of October 31, 2010, and White and the Company agree that from November 1, 2010 through January 31,
2011, White shall continue as an employee of the Company to assist in the transition of certain
matters to the new Chief Executive Officer of the Company;

WHEREAS, the Company and White further agree that beginning on February 1, 2011, through
October 31, 2012, White shall provide consulting services to the Company, as mutually determined
from time to time; and

WHEREAS, the Company and White further agree that from November 1, 2010 through October 31,
2011, White shall serve as Chairman of the Board of Directors of the Company (the “Board”);

NOW, THEREFORE, in consideration of the mutual covenants, conditions and promises contained
herein and other good and valuable consideration, receipt of which is hereby acknowledged, the
Company and White agree as follows:

1. Definitions. Capitalized terms used but not defined in this Agreement shall have the
meanings assigned in the Employment Agreement.

2. Effectiveness. This Agreement shall be effective commencing on the Effective Date.

3. Transition.

(a) Termination of Service as Chief Executive Officer. The parties hereby agree that White
will resign as Chief Executive Officer of the Company as of October 31, 2010.

(b) Board Service. During the period commencing on November 1, 2010 and ending on October 31,
2011, White shall serve as Chairman of the Board, unless White is otherwise removed or resigns from
such position prior to such date. In consideration of such service, the Company shall pay White an
annual fee in the amount of $250,000, paid monthly in arrears.

 

 

 

(c) Salary and Consulting Fees. During the period commencing on November 1, 2010 and ending on
January 31, 2011, White shall continue as an employee of the Company and assist in the transition
of certain matters to the new Chief Executive Officer. In consideration of such transition
services, the Company shall pay White the amount of $70,000 in accordance with the Company’s normal
payroll practices. During the period commencing on February 1, 2011 and ending on October 31, 2012,
White shall provide consulting services to the Company, as mutually determined from time to time.
In consideration of such consulting services, the Company shall pay White a monthly fee in the
amount of $23,333.33 for the period commencing on February 1, 2011 and ending on October 31, 2011
and $20,833.33 for the period commencing on November 1, 2011 and ending on October 31, 2012, in
each case, paid monthly in arrears. White shall be reimbursed for all reasonable and necessary
business expenses incurred by him in connection with his employment or consulting services, as
applicable, upon timely submission by White of receipts and other documentation in accordance with
the Company’s normal expense reimbursement policies.

(d) Entire
Agreement — Continuing Benefits and Obligations. This Agreement contains all the
understandings between the parties hereto pertaining to the matters referred to herein, and
supersedes any other undertakings and agreements, whether oral or in writing, previously entered
into by them with respect thereto, including the Employment Agreement, except as specifically
provided herein. White represents that, in executing this Agreement, he does not rely and has not
relied upon any representation or statement not set forth herein made by the Company with regard to
the subject matter or effect of this Agreement or otherwise. Notwithstanding the foregoing, White
acknowledges and agrees that the provisions of Section 14 of the Employment Agreement shall remain
in full force and effect. Further, this Agreement does not affect any stock option grant agreements
currently in place, except that any options held by White that are vested as of October 31, 2010
shall remain outstanding until the end of their ten-year term.

4. Non-Disparagement.
White shall not make any statements, encourage others to make statements
or release information that would or is reasonably expected to disparage or defame the Company, any
of its Affiliates or shareholders or any of their respective directors or officers. Notwithstanding
the foregoing, nothing in this Section 4 shall prohibit White from making truthful statements when
required by order of a court or other body having jurisdiction or as required by law. White and the
Company shall cooperate in good faith to agree upon any press releases made regarding (i) the
transition and/or (ii) the termination of this Agreement and the arrangements described hereunder
for any reason.

5. Miscellaneous.

(a) No Assignability. This Agreement is personal to White and without the prior written
consent of the Company shall not be assignable by White otherwise than by will or the laws of
descent and distribution. This Agreement shall inure to the benefit of and be enforceable by
White’s legal representatives.

(b) Successors. This Agreement shall inure to the benefit of and be binding upon the Company
and its successors and assigns. The Company shall be entitled to assign its rights hereunder to any
of their respective Subsidiaries.

 

 

 

(c) Payments to Beneficiary. If White dies before receiving amounts to which he is entitled
under this Agreement, such amounts that accrued prior to his death shall be paid in a lump sum to
the beneficiary designated in writing by White, or if none is so designated, to White’s estate.

(d) Non-alienation of Benefits. Benefits payable under this Agreement shall not be subject in
any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, charge,
garnishment, execution or levy of any kind, either voluntary or involuntary, before actually being
received by White, and any such attempt to dispose of any right to benefits payable under this
Agreement shall be void.

(e) Severability. If any one or more articles, sections or other portions of this Agreement
are declared by any court or governmental authority to be unlawful or invalid, such unlawfulness or
invalidity shall not serve to invalidate any article, section or other portion not so declared to
be unlawful or invalid. Any article, section or other portion so declared to be unlawful or invalid
shall be construed so as to effectuate the terms of such article, section or other portion to the
fullest extent possible while remaining lawful and valid.

(f) Amendments. This Agreement shall not be altered, amended or modified except by
written instrument executed by the Company and White.

(g) Notices. All notices and other communications under this Agreement shall be in writing and
delivered by hand or by first class registered or certified mail, return receipt requested, postage
prepaid, addressed as follows:

If to White:

To the address currently on file with the Company.

If to the Company:

IASIS Healthcare Corporation 
113
Seaboard Lane
 Suite A-200

Franklin, TN 37067
 Attention:
General Counsel

with a copy to:

Robert J. Raymond

Cleary Gottlieb Steen & Hamilton LLP

One Liberty Plaza

New York, New York 10006

or to such other address as either party shall have furnished to the other in writing. Notice and
communications shall be effective when actually received by the addressee.

(h) Counterparts. This Agreement may be executed in one or more counterparts, each of which
shall be deemed an original, but all of which together constitute one and the same instrument.

 

 

 

(i) Governing Law. This Agreement shall be interpreted and construed in accordance with
the laws of the State of Delaware, without regard to its conflict of laws principles.

(j) Captions. The captions of this Agreement are not a part of the provisions hereof and shall
have no force or effect.

(k) Tax Withholding. The Company (or its designee) may withhold from any amounts payable under
this Agreement any federal, state or local taxes that are required to be withheld pursuant to any
applicable law or regulation.

(l) No Waiver. White’s or the Company’s failure to insist upon strict compliance with any
provision of this Agreement shall not be deemed a waiver of such provision or any other provision
of this Agreement. A waiver of any provision of this Agreement shall not be deemed a waiver of any
other provision and any waiver of any default in any such provision shall not be deemed a waiver of
any later default thereof or of any other provision.

 

 

 

IN WITNESS WHEREOF, the Company and White have executed this Agreement effective as of October 31,
2010 and executed on December 20, 2010.

	 	 	 	 	 
	 	IASIS Healthcare Corporation

 	 
	 	By:  	/s/ W. Carl Whitmer
 	 
	 	 	Name:  	W. Carl Whitmer  	 
	 	 	Title:  	President and CEO 	 
	 	 	 
	 	/s/ David R. White
 	 
	 	David R. White

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00182-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00182-of-00352.parquet"}]]