Document:

Exhibit

Exhibit 10.98
    
Investment Management
5780 Powers Ferry Road, Suite 300
Atlanta, GA 30327

REVISED

September 24, 2004

Christine Hurtsellers
[REDACTED]

Dear Christine,

On behalf of Stephen Gallant, it is my pleasure to offer you employment with ING Investment Management - Americas (“ING IM-AR”) on the following terms and conditions: 

1.Assignment
On a date mutually agreed upon, you will begin working for ING Investment Management in Atlanta, Georgia.  Your position will be Vice President/Senior Portfolio Manager, CMO-B, reporting to Stephen Gallant, Senior Vice President, CMO-B.

		
	2.
	Compensation

As of your start date, your annual base salary will be $190,000 paid semi-monthly.  You will be eligible for a base salary review for the first time during our annual performance appraisal period in early 2005.  

In addition, you will participate in ING IM-AR’s Annual Incentive Plan (“AIP”) with a target payout of 100% of your base salary (300% maximum).  For the 2004 performance year, you will receive a guaranteed payout of $190,000.  For the 2005 performance year, you will receive a minimum payout of your target AIP opportunity (100% of base salary).  Payment under the Annual Incentive Bonus Plan usually occurs in the early part of March of the following year. Bonus compensation is payable only if you are actively employed by the firm at the time bonuses are paid, and have not been terminated for cause.

Also, you will become a participant in ING IM-AR’s Long-Term Incentive Plan with a target economic value of $120,000 for the awards granted in early 2005. This value may consist of a combination of restricted stock, stock options, and/or Restricted Performance Units, as determined by the provisions of the compensation program and as approved by our Management Committee.  

In addition, to compensate you for any long term award that you are forfeiting by leaving your current position, you will receive a one-time award of $650,000 which will consist of cash and/or restricted stock. Vesting will occur as follows:

$150,000 on 06/01/05
$300,000 on 06/01/06
$100,000 on 06/01/07
$100,000 on 06/01/08

This award is payable only if you are actively employed by the firm at the time of vesting, and you have not been terminated for cause.

		
	3.
	Employee Benefits

You will be eligible to join ING-Americas US pension plan one year after the date of your employment. This plan is non-contributory for its participants. Also, at the start of your employment, you are entitled to enroll in the 401(k) plan offered to ING-Americas US employees on the usual conditions.  

You will further be entitled to the various benefits as they apply to the US employees of ING-Americas on the usual conditions.  These benefits are:  Group Life Insurance, Group Disability Insurance, Group Medical & Dental Insurance, and Group Personal Accident Insurance.

Deferred Compensation:  You are eligible to participate in the Company's Deferred Compensation Savings Plan (DCSP) effective on your date of hire.  This plan allows you to accumulate additional personal savings on a tax-deferred basis.  If you would like to receive a copy of the plan details and enrollment materials, please contact Paula Powell at (770) 933-3639.  You must return your enrollment form to the human resources department within 30 days of your date of hire to participate this year.  Deferrals start as soon as practical following the date of your election.

		
	4.
	Relocation

ING IM-AR will provide you with relocation assistance according to the ING IM-AR Homeowners Relocation Policy, as described in the attached document.  

		
	5.
	Paid Time Off

In addition to the standard company holidays observed by the New York Stock Exchange, you shall be entitled to 5 days of Paid Time Off (PTO) in 2004.  PTO can be used for absences for vacation, personal time, family illness and individual sick days.  In 2005, you will be entitled to earn 20 days of paid time off.

		
	6.
	Employment At Will

The letter is not intended to create an employment contract, and the terms and condition of your employment may be changed at the company’s discretion.  You may terminate your employment at any time, with or without notice, and the company may do the same.

If you are terminated without cause before the 2004 performance year bonus payout, ING IM-AR agrees to pay you the $190,000 guaranteed bonus.  In addition, if you are terminated without cause before you vest in the 6/1/05 portion of the Restricted Stock Buyout, ING-IM will agree to vest you immediately for the $150,000 award.  

		
	7.
	General

With respect to specific information regarding ING IM-AR, ING Group and ING Group affiliates and their clients, of which you may have knowledge and information in your capacity as an ING IM-AR employee, we request utmost confidentiality both towards your colleagues and other individuals.  It is further understood that you are not permitted to make use of such information in any other manner. As an ING Investment Management employee, you will also be expected to adhere to various policies and procedures, including ING’s Business Principles, a copy of which is attached for your review, and ING Investment Management’s Code of Ethics, which require that you and anyone who resides in your household fully disclose all investment accounts and/or securities holdings upon joining the firm.

		
	8.
	Contingencies

This offer is contingent upon the completion of a successful background check and verification that you are legally entitled to work in the United States.  Federal law requires all new employees to demonstrate their entitlement to work in this country.  In addition, this offer is contingent upon the satisfactory completion of the attached employee questionnaire.

ING IM-AR reserves the right to change the terms and conditions of your employment at its discretion. In addition, the benefit programs described in this letter may be changed, in whole or in part, at any time, with or without notice to you.  Your participation in any benefit programs does not ensure your continued employment or the right to any benefits, except as specifically provided in any company benefit plan.

As confirmation of your agreement with the above, we would appreciate you returning this executed letter, as well as the aforementioned questionnaire, to Nakita Hogans, Human Resources, 5780 Powers Ferry Road, Ste 300, Atlanta, GA 30327, both duly signed by you.

Sincerely,

/s/ Jacqueline Ashworth

Jacqueline Ashworth
HR Generalist
Human Resources

Acknowledged and accepted by:

/s/ Christine Hurtsellers

Christine Hurtsellers

Cc:  Stephen GallantExhibit

Exhibit 10.99
                                                                                                                  Memo
	
					
	230 Park Avenue, New York, NY 10169
	 
	 
	 

	To:
	Christine Hurtsellers
	 
	Copies to:
	Cindy Caruso

	Subject:
	Compensation
	 
	 
	Bill Delahanty

	Date:
	February 12, 2009
	 
	 
	 

	From:
	Rob Leary
	 
	Telephone:
	212-309-8294

	Department:
	Office of CEO
	 
	 
	 

Christine, this memo will confirm your new role as Chief Investment Officer of Fixed Income & Proprietary Investments.  In this role, you will report to me.  The Annual Incentive Compensation & Long Term Incentive Compensation targets laid out in this memo for 2009 are contingent on your remaining in this position.  Should you no longer hold the position of Chief Investment Officer of Fixed Income & Proprietary Investments, both your Annual Incentive Compensation and your Long Term Incentive Compensation targets may be re-set in alignment with your new role.

Base Salary:  Effective February 1st, your base salary will be $335,000 per year payable on a semi-monthly basis in accordance with ING regular payroll practices.       

Annual Incentive Compensation: 

		
	1.
	For the 2009 performance year, your target incentive will be 200% of your annual base salary of $335,000 (600% maximum).  

		
	2.
	For the 2008 performance year, your annual incentive will be $750,000.  Bonuses are payable on March 12, 2009.  Bonus compensation is payable only if you are actively employed by the firm at the time bonuses are paid.

Long Term Incentive Compensation: 

		
	1.
	Your target award for performance year 2009 will have an economic value of $295,000.  The value of this award may consist of a combination of stock options, restricted performance shares and restricted stock.  Grants are normally made in March following the performance year. 

		
	2.
	For the 2008 performance year, your long term grant will have an economic value of $225,000.  The value of this award may consist of a combination of stock options, restricted performance shares and restricted stock.  Grants will be made in March 2009. 

You must be an active employee of ING IM on the grant date in order to receive the award.

In addition, we have agreed to provide you with a retention award in the form of restricted stock, with an economic value of $1,200,000 at the time of grant.  This restricted stock award will vest in three installments over three years from the date of grant, in accordance with the following schedule, provided you are actively employed by the firm on the vesting date:

- $400,000 in initial economic value to be vested on March 1, 2010; 
- $400,000 in initial economic value to be vested on March 1, 2011; and
- $400,000 in initial economic value to be vested on March 1, 2012.

We will provide you shortly with a separate agreement which outlines all of the terms and conditions of the restricted stock retention award.

Christine, I thank you for your commitment and demonstrated professionalism.  We appreciate your continued efforts and engagement with ING Investment Management. 

Acknowledged and agreed:

By: /s/ Christine Hurtsellers                   Date:        4/27/2009Exhibit 10.75

 

Executive Park West I

4718 Gettysburg Road

Mechanicsburg, PA 17055

 

First Amendment to Lease Agreement

 

This First Amendment is made as of this 15th day of November, 2016 by and between Old Gettysburg Associates (“Landlord”), and Select Medical Corporation (“Tenant”).

 

BACKGROUND:

 

A.            Landlord and Tenant are parties to that certain Office Lease Agreement dated November 1, 2012 with an effective Commencement date of January 1, 2013 thereto, pursuant to which Landlord leased to Tenant, and Tenant leased from Landlord, approximately 30,225 rentable square feet of space consisting of the entire third floor, and Suites 101, 102, 103, 104, 201, 202, 203, 204 and 402, in the building located at 4718 Gettysburg Road, Mechanicsburg, Pennsylvania.  All capitalized terms not otherwise defined herein shall have the meanings ascribed to them in the Lease.

 

B.            Landlord and Tenant now desire to amend the Lease as hereinafter set forth.

 

NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein, and intending to be legally bound hereby, Landlord and Tenant agree as follows:

 

Effective on December 1, 2016, the following terms contained in the Basic Lease shall be amended as follows:

 

1.              Landlord and Tenant hereby agree that Tenant shall add to the Master Lease and occupy an additional 3,839 RSF of space known as Suite 405.

 

 

2.              The first month’s rent for this space will commence as of December 1, 2016 and will expire on December 31, 2022.

 

3.              The rental rate for Suite 405 shall be the same as the rental rate for the Master Lease.

 

4.              All of the Lease terms and conditions of the existing Master Lease shall be applicable to Suite 405.

 

All other terms and conditions contained in the Lease and not amended hereby remain in full force and effect.

 

Landlord and Tenant have caused this First Amendment to be duly executed.

 

	
 
    	
Landlord: OLD GETTYSBURG   ASSOCIATES
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 /s/ John M. Ortenzio
    
	
 
    	
 
    	
John M. Ortenzio,   President, Select Capital
   Commercial Properties, Inc. as Property
   Manager
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Tenant: SELECT MEDICAL   CORPORATION
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Michael E. Tarvin
    
	
 
    	
Name:
    	
Michael E. Tarvin
    
	
 
    	
Title:
    	
Executive Vice President,   General Counsel
   & Secretary

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