Document:

ex10-2.htm

    EXHIBIT
10.2

    

    
      Amendment
No. 2

      to

      EMPLOYMENT
AGREEMENT

      

      THIS
AMENDMENT NO. 2 TO EMPLOYMENT AGREEMENT (“Agreement”) effective as of March 31,
2008, by and between Richard
Matros (“Mr. Matros”) and Sun Healthcare Group, Inc., a
Delaware corporation (“Sun”).

       

      WHEREAS,
Sun and Mr. Matros entered into an Employment Agreement dated as of October 12,
2006 and Amendment No. 1 thereto dated as of October 31, 2007 (the “Employment
Agreement”), and they desire to amend the Employment Agreement with respect to
the terms and conditions of Mr. Matros’ bonus eligibility, as set forth below
(capitalized terms used in this Agreement without definition shall have the
meanings provided in the Employment Agreement).

       

      NOW,
THEREFORE, in consideration of the above recitals and the mutual covenants and
agreements contained herein, Mr. Matros and Sun agree as follows:

       

      1.           Amendment.

       

          
(a) Section 3(b) of the Agreement is amended by deleting it in its entirety and
inserting the following in lieu thereof:

       

       

      
        	
                 
      

              	
                (b) Cash
      Bonus/Incentive Compensation. In addition to the Base Salary
      provided for in Section 3(a) above, Mr. Matros shall be entitled to
      receive an annual bonus (“Bonus”) in accordance with the SunHealthcare
      Group, Inc. Executive Bonus Plan (the “Plan”), as it may be amended from
      time to time by the Compensation Committee of the Board of Directors;
      provided, however, that no amendment shall be effective if it reduces
      the percentage of Base Salary that would constitute the
      minimum or maximum potential amount of the Bonus as compared to the
      prior year, unless such amendment has been agreed to in writing by Mr.
      Matros. 
      The Bonus shall be payable at the same time as other annual bonuses are
      paid to senior management personnel.  Subject to the provisions
      of Section 6, in order to have earned and to be paid any such Bonus, Mr.
      Matros must be employed by Sun on the date of such payment. It is intended
      that the Bonus described in this Section 3(b) qualify as "performance
      based compensation" under Section 162(m) of the Code to the extent
      necessary to preserve Sun’s ability to deduct such Bonus.  In
      the event the minimum financial performance threshold is met as set forth
      in the Plan, Mr. Matros’ minimum Bonus shall be no less than 10% of his
      Base Salary for the applicable fiscal
year.

              

      

       

       

      
        	
                 
      

              	
                (b)  Schedule
      A to the Agreement is deleted in its
entirety.

              

      

       

      2.           Miscellaneous.

       

      
        	
                (a)  

              	
                Amendments,
      Waivers, Etc.  Except as otherwise provided herein, no
      provision of this Agreement may be modified, waived or
      discharged

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	
                 

              	
                unless
      such waiver, modification or discharge is agreed to in writing signed by
      both parties.  No waiver by either party hereto at any time of
      any breach by the other party hereto of, or compliance with, any condition
      or provision of this Agreement to be performed by such other party shall
      be deemed a waiver of similar or dissimilar provisions or conditions at
      the same or at any prior or subsequent
time.

              

      

       

      
        	
                (b)  

              	
                Entire
      Agreement.  The Employment Agreement, as amended by this
      Agreement, sets forth the entire agreement and understanding of the
      parties hereto with respect to the matters covered hereby and supersedes
      all prior agreements and understandings of the parties with respect to the
      subject matter hereof.  No agreements or representations, oral
      or otherwise, express or implied, with respect to the subject matter
      hereof have been made by either party which are not expressly set forth in
      the Employment Agreement, as amended hereby, and the Employment Agreement,
      as so amended, shall supersede all prior agreements, negotiations,
      correspondence, undertakings and communications of the parties, oral or
      written, with respect to the subject matter hereof.  Except for
      the changes set forth in Section 1, the Employment Agreement shall remain
      in full force and effect.

              

      

       

      
        	
                (c)  

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

              

      

       

       

      The parties hereto have executed this
Agreement as of the date first above written.

      

      

      
        	
                     /s/   Richard
      Matros                               

              	
                March
      31, 2008

              
	
                Richard
      Matros

              	
                Date

              
	 	 
	
                SUN
      HEALTHCARE GROUP, INC.

              	 
      
	 	 
	
                By 
      /s/ L. Bryan Shaul

              	
                March
      31, 2008

              
	
                Its
      Executive Vice President

              	
                Date

              

      

      

      
        
           

        

        
          2ex10-3.htm

    

      EXHIBIT
10.3

      

      Amendment
No. 3

      to

      EMPLOYMENT
AGREEMENT

      

      THIS
AMENDMENT NO. 3 TO EMPLOYMENT AGREEMENT (“Agreement”) effective as of March 31,
2008, by and between L. Bryan Shaul (“Mr. Shaul”) and Sun Healthcare Group,
Inc., a Delaware corporation (“Sun”);

       

      WHEREAS,
Sun and Mr. Shaul entered into an Employment Agreement dated as of February 14,
2005, and amended such Employment Agreement effective as of October 12, 2006 and
October 31, 2007 (as so amended, the “Employment Agreement”), and they desire to
amend the Employment Agreement with respect to the terms and conditions of Mr.
Shaul’s bonus eligibility, as set forth below (capitalized terms used in this
Agreement without definition shall have the meanings provided in the Employment
Agreement).

       

      NOW,
THEREFORE, in consideration of the above recitals and the mutual covenants and
agreements contained herein, Mr. Shaul and Sun agree as follows:

       

      1.           Amendment.

       

          
(a) Section 3(b) of the Agreement is amended by deleting it in its entirety and
inserting the following in lieu thereof:

       

       

      
        	
                 
      

              	
                (b) Cash
      Bonus/Incentive Compensation. In addition to the Base Salary
      provided for in Section 3(a) above, Mr. Shaul shall be entitled to receive
      an annual bonus (“Bonus”) in accordance with the Sun Healthcare Group,
      Inc. Executive Bonus Plan, as it may be amended from time to time by the
      Compensation Committee of the Board of Directors; provided, however, that
      no amendment shall be effective if it reduces the percentage of Base
      Salary that would constitute the minimum or maximum potential amount
      of the Bonus as compared to the prior year, unless such amendment has been
      agreed to in writing by Mr. Shaul. 
      The Bonus shall be payable at the same time as other annual bonuses are
      paid to senior management personnel.  Subject to the provisions
      of Section 6, in order to have earned and to be paid any such Bonus, Mr.
      Shaul must be employed by Sun on the date of such payment. It is intended
      that the Bonus described in this Section 3(b) qualify as "performance
      based compensation" under Section 162(m) of the Code to the extent
      necessary to preserve Sun’s ability to deduct such
  Bonus.

              

      

       

       

      
        	
                 
      

              	
                (b)  Schedule
      A to the Agreement is deleted in its
entirety.

              

      

       

      2.           Miscellaneous.

       

      
        	
                (a)  

              	
                Amendments,
      Waivers, Etc.  Except as otherwise provided herein, no
      provision of this Agreement may be modified, waived or discharged unless
      such waiver, modification or discharge is agreed to in writing signed by
      both parties.  No waiver by either party hereto at any time
      of

              

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

         

      

      
        	
                 

              	
                any
      breach by the other party hereto of, or compliance with, any condition or
      provision of this Agreement to be performed by such other party shall be
      deemed a waiver of similar or dissimilar provisions or conditions at the
      same or at any prior or subsequent
time.

              

      

       

       

      
        	
                (b)  

              	
                Entire
      Agreement.  The Employment Agreement, as amended by this
      Agreement, sets forth the entire agreement and understanding of the
      parties hereto with respect to the matters covered hereby and supersedes
      all prior agreements and understandings of the parties with respect to the
      subject matter hereof.  No agreements or representations, oral
      or otherwise, express or implied, with respect to the subject matter
      hereof have been made by either party which are not expressly set forth in
      the Employment Agreement, as amended hereby, and the Employment Agreement,
      as so amended, shall supersede all prior agreements, negotiations,
      correspondence, undertakings and communications of the parties, oral or
      written, with respect to the subject matter hereof.  Except for
      the changes set forth in Section 1, the Employment Agreement shall remain
      in full force and effect.

              

      

       

      
        	
                (c)  

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

              

      

       

      The parties hereto have executed this
Agreement as of the date first above written.

      

      

      
        	
                /s/
      L. Bryan Shaul

              	
                March
      31, 2008

              
	
                L.
      Bryan Shaul

              	
                Date

              
	 	 
	
                SUN
      HEALTHCARE GROUP, INC.

              	 
      
	 	 
	
                By
      /s/ Richard Matros

              	
                March
      31, 2008

              
	
                Its
      Chairman and Chief Executive Officer

              	
                Date

              

      

      

      
        
           

        

        
          2

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